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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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
Wed, Nov 23, 2016
Only 7% Indians over the age of 15 received their wages of government transfers into their bank accounts.
We are seeing initial hiccups but we expect it to even out, says Sarfraz Rumane of Himalaya. Adding that the there will be impact on winter products.
Paytm founder and CEO Vijay Shekhar on said that user base on its platform now stands at 150 million.
Just a week after PM Modi’s announcement the company’s user base touched 75 million with 700% increase in overall traffic and 1000% increase in money transactions on its platform.
Department of Economic Affairs Secretary, Shaktikanta Das, on Wednesday spoke of the new initiatives taken by Reserve Bank of India (RBI) and the government to help smooth the ongoing battle of a cashless society on account of demonetisation.
Tue, Nov 22, 2016
The Mini ATM facility is similar to banks ATMs.
While mobile wallet companies are in an overdrive to capitalise on demonetisation by large marketing campaigns, many have not create a solution for feature phone users in India.
Today, the rupee opened nearly 5 paise up at 68.11 and closed at 68.22 against dollar.
The Reserve Bank of India (RBI) on Monday added further terms and conditions to the government’s rule to allow wedding ceremonies to proceed as ‘business as usual.’
The aim for withdrawing the notes was to curb black money, which is in line with government's agenda.
Dealerships have seen very low to zero sales since demonetisation was announced by the government. The dealership association expects at least a 30% decline in auto sales in November.
Surprised by the 'dramatic' Indian decision to ban higher currencies in India, Harvard Professor, Lawrence Summers (Larry) and PhD candidate Natasha Sarin said in a blog post on Monday that this was the ‘most sweeping change in currency policy that has occurred anywhere in the world in decades.’
Amul Chairman Jethabhai Patel on Monday said that the group will credit payments to its milk producers directly through the bank.
Mon, Nov 21, 2016
The application for withdrawal should also provide names of bride and groom, their identify proofs, addresses and date of marriage.
It has received several representations for some more time for small borrowers to pay their loan dues after demonetisation
Exports of 1 million bales of cotton from top producer India have been delayed after a government move to ban high-value currency notes prompted farmers, who prefer cash payments, to postpone sales, industry officials told Reuters.
Luxury products will bear the brunt of the recent demonetisation move by the government. The cash crunch has impacted the demand side and the supply chain of the economy, placing luxury commodities in a pretty tight situation.
The head of All India Bank Officer’s Confederation, D Thomas Franco, on Monday called for the resignation of Reserve Bank of India (RBI) governor, Urjit Patel, on moral grounds.
Demonetisation of higher denominations in India has led to a short term state of paralysis as in the fight against black money, the purchasing power of the people has also been curtailed.
Public have withdrawn amount upto Rs 1.03 lakh crore from their accounts.
The Ministry has ensured that the farmers will be suitably facilitated during the Rabi season.
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