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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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
Fri, Nov 25, 2016
The Cabinet on Thursday discussed amending laws to levy close to 60% income tax on unaccounted deposits in banks above a threshold post demonetisation of high-denomination currency notes.
Cellular operators association of India (COAI) on Thursday said government's decision to allow old Rs 500 notes to be used for pre-paid mobile recharges will address difficulties being faced by consumers, and allow them to continue using mobile services without disruption.
The Bank Employees Federation of India (BEFI) on Thursday said currency note shortage will continue for another four to five months even if the country's all four currency press facilities work at optimum capacity.
Thu, Nov 24, 2016
As per the Ministry, the suspension decision was taken after considering decline in trend.
The card system is similar to credit and debit cards and will work on all online platforms and POS machines.
Finance Minister said there are 14 lakh POS machines which are there at retail level and this figure has to be expanded manifold.
Ratan Tata call for implementation of special relief measures for the poorer segments similar to that when national calamities have hit, especially for medical treatment.
During the week of announcement, the consumer sentiments rose nearly to 98.8, the data showed.
As per earlier announcement, today was the last day of the suspension of the fee collection.
Demonetisation will "significantly disrupt economic activity" and lead to weaker growth in near-term, though in the long run it can boost tax revenues and translate into faster fiscal consolidation, Moody's Investors Service said on Thursday.
The current size of digital banking is around Rs 1.2 lakh crore and this has to reach at least Rs 3 lakh crore.
These innovative start-ups have emerged during the demonetisation process to ease the troubles of people facing the cash crunch.
With an aim to support the government's ongoing move to shift Indians to cashless payments system, State Bank of India (SBI) launched an 'SBI Pay' app on Wednesday.
India's economic growth is expected to fall by up to 1% points over the next 12 months in the wake of demonetisation, says HSBC.
Those who say demonetisation is good in the long run should recall quote "In the long run we are all dead", Singh said.
Is India doing enough to detect fake notes, cited by the Prime Minister Narendra Modi as a significant reason for withdrawing 86 % of India`s currency, a process popularly known as `demonetisation`?
Days after Prime Minister Narendra Modi signalled that rates are on the way down, State Bank of India (SBI) on Wednesday slashed bulk deposit rates by up to 1.9% taking advantage of the surge in deposits following demonetisation.
Wed, Nov 23, 2016
The government on Wednesday told a central team visiting the state to study the impact of demonetisation that the state may suffer a revenue loss of Rs 540 crore every month.
The impact of tight liquidity is likely to cripple the road logistics sector in the near-term and would prompt the transport community to put their vehicle replacement or addition plans on the back burner, added the report.
From banks to airlines, all are coming out with new ad campaigns to attracting the customers to buy their products or services using digital transactions.
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