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Demonetisation

2,000-rupee note: A barrage of memes on social media as RBI presses 'exit' on 2,000 currency bill

2,000-rupee note: A barrage of memes on social media as RBI presses 'exit' on 2,000 currency bill

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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.

Bye bye, Rs 2,000 banknote! 10 things to know about the bill that has been in circulation for 6 years

Bye bye, Rs 2,000 banknote! 10 things to know about the bill that has been in circulation for 6 years

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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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.

Finance Minister Nirmala Sitharaman says govt hasn't stopped banks from filling Rs 2000 notes in ATMs

Finance Minister Nirmala Sitharaman says govt hasn't stopped banks from filling Rs 2000 notes in ATMs

Mon, Mar 20, 2023

The finance minister says banks make assessment of amount and denominational requirements for ATMs on the basis of past usage

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Mercedes hits currency recall speed bump, lowers sales target

Mercedes hits currency recall speed bump, lowers sales target

Mon, Dec 12, 2016

The automaker always looks for double-digit growth, provided there are no disruptive surprises.

Bajaj Finance's two-wheeler loan collection drop by a fifth in November

Bajaj Finance's two-wheeler loan collection drop by a fifth in November

Mon, Dec 12, 2016

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.

Is Modi's demonetisation killing Modi's Make in India programme?

Is Modi's demonetisation killing Modi's Make in India programme?

Mon, Dec 12, 2016

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.

Headed Home: Workers abandon building sites after cash crackdown

Headed Home: Workers abandon building sites after cash crackdown

Mon, Dec 12, 2016

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.

Fortune favoured only a few new cars as demonetisation strikes

Fortune favoured only a few new cars as demonetisation strikes

Mon, Dec 12, 2016

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.

Banks must keep deposits record of scrapped, valid notes: Finance Ministry

Banks must keep deposits record of scrapped, valid notes: Finance Ministry

Mon, Dec 12, 2016

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 likely to miss April 1 deadline for GST

India likely to miss April 1 deadline for GST

Mon, Dec 12, 2016

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.

GST Council meeting commences in the shadow of demonetisation

GST Council meeting commences in the shadow of demonetisation

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.

SBI Card to launch Rs 25,000 limit credit cards soon

SBI Card to launch Rs 25,000 limit credit cards soon

Sun, Dec 11, 2016

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.

23% Jan Dhan accounts still without balance; deposit surge abates

23% Jan Dhan accounts still without balance; deposit surge abates

Sun, Dec 11, 2016

Despite a huge surge in total deposits in Jan Dhan accounts following demonetisation, about one-fifth of these still continue to have no balance.

Government to amend RBI Act to annul old Rs 500, Rs 1000 currency notes

Government to amend RBI Act to annul old Rs 500, Rs 1000 currency notes

Sun, Dec 11, 2016

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.

Demonetisation: I-T dept seizes Rs 2.6 crore in new notes among Rs 13.5 crore from raids at Delhi law firm

Demonetisation: I-T dept seizes Rs 2.6 crore in new notes among Rs 13.5 crore from raids at Delhi law firm

Sun, Dec 11, 2016

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.

Demonetisation to strengthen hands of poor, says PM Narendra Modi

Demonetisation to strengthen hands of poor, says PM Narendra Modi

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.

Demonetisation: I-T department seizes fresh Rs 24 crore of new currency notes in Chennai

Demonetisation: I-T department seizes fresh Rs 24 crore of new currency notes in Chennai

Sat, Dec 10, 2016

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.

IT raid unearths 44 fake accounts at Axis Bank branch in Delhi

IT raid unearths 44 fake accounts at Axis Bank branch in Delhi

Fri, Dec 09, 2016

It has warned of high penalties if people are found depositing larger amounts without informing the IT department.

Demonetisation impact: Direct, indirect tax collections in November drop

Demonetisation impact: Direct, indirect tax collections in November drop

Fri, Dec 09, 2016

The Central Board of Excise and Customs (CBEC), also released indirect tax collection data.

Indian banks' loans rose over 6% in just two weeks post demonetisation

Indian banks' loans rose over 6% in just two weeks post demonetisation

Fri, Dec 09, 2016

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.

No demonetisation blues for Ford Mustang

No demonetisation blues for Ford Mustang

Fri, Dec 09, 2016

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.

India's demonetisation drive hitting budget preparations

India's demonetisation drive hitting budget preparations

Fri, Dec 09, 2016

PM Modi's decision to demonetise higher denominations to curb black money may now disrupt 2017 budget preparations.

Mahindra first automaker to announce production shutdown due to demonetisation

Mahindra first automaker to announce production shutdown due to demonetisation

Fri, Dec 09, 2016

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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