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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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 12, 2016
The automaker always looks for double-digit growth, provided there are no disruptive surprises.
Last month, the passenger car sales stood at 1,73,606 units which was just 495 cars more than the same month of last year.
Self-advocated PM Narendra Modi's 'Make in India' campaign maybe endangered with his latest move to demonetise higher currency as manufacturers' future investment plans are now looking bleak.
Hundreds of thousands of construction workers have returned home since Prime Minister Narendra Modi abolished high-denomination banknotes, leaving some building sites across the country facing costly delays.
While VW Ameo saw a high 48.8% decline in month-on-month sales during November, Renault Kwid's sales slumped by 19.9%. Even Maruti Suzuki's top selling new car Vitara Brezza posted a 3.4% decline in sales during November. Tata Motors' Tiago saw a smaller 1.6% decline in sales during the month. Datsun RediGo too saw a 37.7% decline in sales.
To avoid any malpractices, the government on Sunday asked all public sector banks to strictly maintain record of deposits made through both old Rs 500 and Rs 1,000 notes and other valid currencies.
India is likely to miss a self-imposed deadline to launch the Goods and Services Tax (GST) from April 1 next year after a meeting of federal and state officials ended on Sunday without deciding who would administer the tax.
Sun, Dec 11, 2016
The sixth meeting of the Goods and Services Tax (GST) Council commenced in New Delhi on Sunday in the shadow of demonetisation, whose fallout has put a serious question mark on implementing GST by the central government`s targeted deadline of April 1, next year.
To tap opportunities arising out of limited cash supply, SBI Card will soon launch a credit card with a cap of Rs 25,000 for those at the lower strata of the society, who have the capacity to pay but don't have cards, a top company official said.
Despite a huge surge in total deposits in Jan Dhan accounts following demonetisation, about one-fifth of these still continue to have no balance.
The government is likely to amend the Reserve Bank of India (RBI) Act to extinguish the validity of Rs 500 and Rs 1,000 notes printed before November 9 and a reference to this effect would be made in the upcoming Budget 2017-18.
The total amount of seizure in the raid by the city police at a law firm in southeast Delhi's Greater Kailash-I area on Sunday neared Rs 13.5 crore, of which Rs 2.6 crore was in new banknotes released after demonetisation, a senior police official said.
Sat, Dec 10, 2016
Prime Minister Narendra Modi said on Saturday that the decision to ban old Rs 500 and 1,000 notes was taken to strengthen the hands of the nation`s poor.
A fresh seizure of Rs 24 crore cash in new notes was on Saturday made by the Income Tax department (I-T), adding to the biggest haul of cash and gold post demonetisation, in which over Rs 142 crore unaccounted assets have been recovered in tax operations so far in Chennai.
Fri, Dec 09, 2016
It has warned of high penalties if people are found depositing larger amounts without informing the IT department.
The Central Board of Excise and Customs (CBEC), also released indirect tax collection data.
Indian banks` loans rose 6.6 % in the two weeks to November 25 from a year earlier, while deposits rose 15.9 %, the Reserve Bank of India`s weekly statistical supplement showed on Friday.
Sales of the iconic American muscle car zoomed in November despite expectations of sales of premium cars expected to take a large hit due to demonetisation.
PM Modi's decision to demonetise higher denominations to curb black money may now disrupt 2017 budget preparations.
Mahindra which saw a 33% decline in November was one of the worst hit due to demonetisation and as a result has decided to halt production on certain days during December.
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