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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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, Nov 28, 2016
From assuring constant supervision to reassuring honest taxpayers, and justifying demontization and why it was so chaotic, the RBI Governor finally opened up on demonetisation.
To decongest storage facility of banks of old Rs 500 and Rs 1,000 notes, RBI on Sunday allowed lenders to park such currencies at currency chests at the district level in view of mounting deposits due to the demonetisation drive.
Sun, Nov 27, 2016
Patel said that according to bankers the situation is getting better and in the metros things are stabilising but the remote locations are still feeling some pain.
The Union MSME minister assured that there will be no impact to the jobs in the sector.
"This is a big decision... It is BSP and SP that appear to be more worried by it," he Mahendra Singh, adding that people were minutely watching the panic situation of political parties.
Many economists say that the move will result in a slowing down of the economy in the near term.
Sat, Nov 26, 2016
Alleging that the Reserve Bank of India (RBI) was kept in the dark by the government about its surprise demonetisation move, the Congress on Saturday said the central bank's Governor Urjit Patel has sacrificed its autonomy.
After calling for special relief measures for poor hit by demonetisation, industrialist Ratan Tata on Saturday termed the move as one of the three most important economic reforms that will help fight black money.
Even as the sale of pre-owned houses and developer-built small properties have come to a standstill, the realty industry hopes the quantum of home loans will pick up after stability returns and eventually lift its fortunes.
The demonetisation of Rs 500 and Rs 1,000 notes will have an impact on growth in the current quarter but the economy will gradually come back to the 'new normal', Commerce and Industry Minister Nirmala Sitharaman said.
Fri, Nov 25, 2016
These include jewellers and those dealing in furniture, and sanitaryware, among other items, the survey said.
Seeking to know the ground reality, the court said that the hearing on the validity of the note ban could take place later.
The Government of India's ongoing demonetisation drive is likely to slow down personal computer (PC) and mobile devices market in the fourth quarter (Q4) of 2016 due to cash crunch in the country, said a global market intelligence and advisory company IDC India on Friday.
In October 2016, Fitch forecast 7.4% growth for the current fiscal for India.
The company added that the facility will be available across 17 properties starting today.
Consumer sentiments and unemployment rates took a leap for the positive as PM Modi announced the demonetisation of higher currency, Centre for Monitoring Indian Economy (CMIE) and BSE data show.
Paytm had said it expects 10 million app POS to be downloaded before the weekend.
The big debate on whether the government’s bold move of demonetisation has affected India’s GDP in a drastic way was taken up in the conference on consumer sentiments and unemployment rate at Bombay Stock Exchange on Thursday.
Large companies don't react quickly to problems like demonetisation and expect smart innovative people to address it, Hewlett Packard Enterprise Group India R&D President Naresh Shah said.
Prime Minister Narendra Modi while speaking at a programme in the run up to the Constitution Day said on Friday that those accusing government of not being prepared for demonetisation were themselves not ready for the move, PTI reported.
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