Sat, May 20, 2023
Rs 2,000 withdrawal from circulation: The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.
Fri, May 19, 2023
BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation. But worry not! The 2,000 note will remain legal tender. You will get a chance to deposit the Rs 2,000 note at the bank, or exchange it up to 10 (Rs 20,000) at a time.
Mon, Mar 20, 2023
The finance minister says banks make assessment of amount and denominational requirements for ATMs on the basis of past usage
Mon, Dec 19, 2016
It asked IT companies to identify and volunteer employees for digital India initiative and to teach citizens on cashless transactions.
Legislative amendment in this regard would be carried out through the Finance Bill, 2017, the CBDT added.
Gangu Kundaikar is a small-framed, sari-clad woman who rises at 3 a.m. every day, wraps a cloth around her waist so fish do not soil her sari, and takes a rented vehicle to the Malim jetty in Panaji, North Goa, 8 km from her village in one of Indias most prosperous and literate states.
Government's exemption for citizens to buy airline tickets with old currency notes seems to have pushed up passenger traffic in November to 23.10%.
A move toward PM Modi's much advocated cashless society could push digital transactions to grow to $470 billion from $190 billion in just 4 years.
Till now, the Government had allowed citizens to allow as much in their bank accounts.
PM Modi's demonetisation move pushed e-wallet app downloads to grow four-fold in the midst of a cash crunch.
India`s shock move to abolish high-value banknotes was expected to deliver a windfall to lenders, and banks have indeed seen coffers swell after people deposited Rs 12,40,000 crore ($183 billion) in cash into the system.
Sun, Dec 18, 2016
Trend in global markets and crude oil prices are expected to set the market trend in the week, while a bit of recovery is likely on the back of attractive valuations, say experts.
"Embarrassed and upset" over the conduct of a handful of employees bringing the organisation into disrepute, Axis Bank MD and CEO Shikha Sharma said on Sunday the bank has hired KPMG to conduct a forensic audit for enhanced due diligence and building more safeguards.
After a challenging year amid global headwinds and cash-crunch back home, the job market is heading for yet another gloomy year with employers already on 'wait and watch' mode and pay hikes indicating a weak trend, say experts.
Coal imports, which dropped by 16% to 14 million tonnes (MT) in November, are likely to decline this month as well due to factors like demonetisation and higher prices in global markets.
In a bid to clear the air on tax exemption to political parties, Finance Minister Arun Jaitley said on Saturday they can not accept donations in old Rs 500 and Rs 1,000 notes since these bills were junked last month and clarified that there is no new exemption granted.
Union Minister Santosh Kumar Gangwar has said the government never talked of going 100% cashless, but even if the country achieves 15-20% success in going cashless it will be a big achievement.
Sat, Dec 17, 2016
After the government announced that political parties depositing old notes post demonetisation will be exempted from income tax, the CBDT issued a clarification on Saturday stating that the exemption from income tax is given to only registered political parties subject to certain conditions which
The Enforcement Directorate (ED) has registered a money laundering case in the alleged forging of a customer's identity to conduct huge illegal transactions in an Axis Bank branch in Noida for conversion of black funds into white post demonetisation.
Either the Reserve Bank of India (RBI) is uncharacteristically cavalier with the demonetisation-related figures it has given out periodically since November 8 or, more worryingly, its number crunchers are getting their math mixed up.
The Reserve Bank of India (RBI) on Saturday flew in Rs 5,000 crore in a heavily guarded cargo plane to cash parched Uttar Pradesh (UP), an official said.
The decision of demonetising higher currency notes was not taken in a hurry, Bharatiya Janata Party (BJP) President Amit Shah has said, adding that the decision was taken in consultation with Reserve Bank of India (RBI).
As it levies stiff penalties on unaccounted cash in banks, the government on Friday said political parties depositing old Rs 500 and Rs 1,000 notes in their accounts will be exempt from income tax.
By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.