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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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
Sat, Dec 03, 2016
The Reserve Bank of India (RBI) is expected to cut interest rates next week and economists are set to chop growth and inflation forecasts after Prime Minister Narendra Modi`s currency crackdown rattled the economy and severely hurt consumption, a Reuters poll showed.
Fri, Dec 02, 2016
The judges dismissed the petition on the ground that it was "devoid of merit" as there were "no restrictions" for operating the bank account by "non-cash transactions".
Passenger vehicles sales in November of many automobile companies saw a double-digit growth despite the demonetisation impact.
The Ministry also warned individuals involved in unauthorised activities.
Speaking at an event in New Delhi, Finance Minister, Arun Jaitley on Friday said that queues outside banks and ATMs were factored in while making plans to ban higher denomination currency.
In a statement, Meenakshi J Goswami, I-T Commissioner and Spokesperson of the Central Board of Direct Taxes (CBDT), clarified that jewellery bought from disclosed income will not be taxed under existing or proposed amended provisions.
The Unique Identification Authority of India has planned to increase biometric authentication capacity through Aadhaar to 40 crore a day from 10 crore to encourage more use of the platform for realising a cashless society.
The company said, "... saw a drop in retail sales after the demonetisation initiative when the entire industry also witnessed decline in sales."
The company said that its domestic sales dropped 12% with exports falling maximum (17%), at 97,992 units. Domestic two-wheeler sales stood at 1,39,765 units as against 1,52,663 units in the same month of last year.
Thu, Dec 01, 2016
While companies such as Maruti Suzuki India, Toyota, Tata Motors and Renault saw a double digit growth in sales in November, auto companies say that they have been seeing an impact of
The government had last week extended the time period of use of invalid currency notes for making payment of public utility bills.
Speaking on the GST, he said the law has to be implemented latest by September 16, 2017.
Nearly 90 % of the 2 lakh ATMs deployed across the country have been re-calibrated to dispense the new 500 and 2,000 rupee notes, says a key maker of the machines even as millions of people continue to face acute cash shortages in the aftermath of demonetisation last month.
The passenger car sales continued its growth momentum due to strong demand for the Tata Tiago, the company said.
We are well placed with our various on line payment initiatives, George Alexander Muthoot said.
Mobile wallet and online payment system, MobiKwik’s mobile app – MobiKwik Lite registered 20 lakh downloads in the first two days after its launch owing to demonetisation and the current cash crunch.
PM Modi’s demonetisation of higher currency move has shaved two points off India’s Purchasing Manufacturing Index (PMI) in November.
Nikkei India’s report on PMI, on Thursday showed that the index was lower in November to 52.3 from 54.4 in October last year.
Wed, Nov 30, 2016
The extension of the Welcome Offer by Reliance Jio is expected to impact on its Q4 results.
The Lok Sabha on Tuesday passed by a voice vote a bill to amend the income tax laws.
According to the median consensus of 35 economists, GDP was forecasted ranged from 6.5% to 8.7%.
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