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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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 05, 2016
Indian services activity dived into contraction in November after Prime Minister Narendra Modi`s surprise move to withdraw high denomination banknotes led to a sharp decline in demand, a survey showed on Monday.
Sun, Dec 04, 2016
With people becoming comfortable buying even milk and bread online, e-grocery platform BigBasket on Sunday said it has seen 300% growth in revenue in the past one year and expects to cross the Rs 2,000 crore-milestone by the fiscal-end.
Reserve Bank of India (RBI) Governor Urjit Patel is expected to again go in for a 0.25% interest rate cut at its next policy review on December 7, Wednesday, with an aim to cushion the impact of demonetisation, a majority bankers feel.
With the usage of micro-ATMs and POS counters witnessing a sharp surge post demonetisation, the country's premier cyber security agency CERT-In has cautioned customers, bankers and traders against skimming and malware attacks on these systems and asked them to adopt high-end encryption to plug po
Notwithstanding economists` prediction that demonetisation would hit the country`s Gross Domestic Product (GDP) growth, Union Minister Piyush Goyal on Saturday said when informal economy goes into the formal mode with the banning of high-value currency, this will add to the GDP.
Outcome of the Reserve Bank of India's (RBI) monetary policy review, macroeconomic data and major global events would set the market tone this week, say experts.
Fintech startups are proving to be the biggest beneficiaries of the government's demonetisation move and with the rise in business, recruitment plans of these companies are likely to see significant uptrend in coming months, experts say.
Prime Minister Narendra Modi on Saturday said he "will find a way" to jail the rich who had after demonetisation stashed their ill-gotten wealth in Jan Dhan bank accounts of the poor, and let the poor retain their money.
Arguing that private consumption will take a "significant hit" at least in the next two quarters following demonetisation, Assocham on Sunday said the government should jack up its public expenditure in 2016-17.
The rates of interest and tax will soon come down mainly due to the demonetisation drive of the government, Minister of State for Finance Arjun Ram Meghwal said on Saturday.
"Interest rates and tax rates will soon decrease (after the demonetisation step)," Meghwal said.
Demonetisation will lead to a spurt in economic activity, which will in turn push gross domestic product (GDP) growth to 10%, Union minister Arjun Ram Meghwal has said.
Sat, Dec 03, 2016
Mahesh Shah, a businessman from Gujarat who made a surprising disclosure Rs 13,860 crore in unaccounted wealth under the Income Declaration Scheme (IDS) two months ago, said on Saturday he was used as a front by some businessmen and politicians to declare the money and would name them soon.
Prime Minister Narendra Modi on Saturday acknowledged the inconvenience caused to people by demonetisation and said it was a move that would end all the problems, including poverty, corruption and black money in India.
After the Government of India demonetised old banknotes of Rs 500 and Rs 1,000, Food Tech and Hyperlocal Grocery sectors have witnessed a significant growth in their online transactions in November on account of their dependency on cashless transactions, said a Bengaluru-based research and adviso
Dispelling rumours that Finance Minister Arun Jaitley was unaware of demonetisation, Power Minister Piyush Goyal on Saturday said he knew it and kept it as secret despite being "very friendly and open".
RuPay card usage jumped by over 118.6% in the week following demonetisation that took effect from November 8 mid-night while the overall debit and credit card transactions recorded an increase of 70.5%.
State Bank of India (SBI) has estimated that money worth Rs 2.5 lakh crore may not come back into the banking system post demonetisation of high-value notes.
On November 8, the government banned old banknotes of Rs 500 and Rs 1,000 worth over Rs 14 lakh crore from the economy.
The Reserve Bank of India (RBI) will come out with monetary policy review, the first after demonetisation of old Rs 500 and Rs 1,000 notes, on Wednesday amid expectations of interest rate cut.
At a time when the country is undergoing a demonetisation drive, the Reserve Bank of India (RBI), in its next policy meeting on December 7, may increase the main interest rate by 50 basis points (bps), feels Keki Mistry, Vice Chairman and CEO of HDFC.
Indian Finance Minister Arun Jaitley said on Friday that a cash crunch following the scrapping of high-value banknotes would ease by December 30 with the release of new Rs 500 and Rs 2,000 notes.
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