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Demonetisation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Mon, Jun 03, 2024

97.82 per cent of the total value of the high-value Rs 2,000 banknotes are back in the banking system by the end of May 2024.

2,000-rupee note: A barrage of memes on social media as RBI presses 'exit' on 2,000 currency bill

2,000-rupee note: A barrage of memes on social media as RBI presses 'exit' on 2,000 currency bill

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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.

Bye bye, Rs 2,000 banknote! 10 things to know about the bill that has been in circulation for 6 years

Bye bye, Rs 2,000 banknote! 10 things to know about the bill that has been in circulation for 6 years

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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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.

TRENDING NOW

Brands go for cashless ads to attract cash-crunched consumers

Brands go for cashless ads to attract cash-crunched consumers

Wed, Nov 23, 2016

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.

Is India ready to go cash-less?

Is India ready to go cash-less?

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 from demonetisation: Sarfraz Rumane, Himalaya

We are seeing initial hiccups from demonetisation: Sarfraz Rumane, Himalaya

Wed, Nov 23, 2016

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's user base doubles in just two weeks

Paytm's user base doubles in just two weeks

Wed, Nov 23, 2016

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.

Shaktikanta Das says more initiatives to ease cash crunch, 82,000 ATMs recalibrated

Shaktikanta Das says more initiatives to ease cash crunch, 82,000 ATMs recalibrated

Wed, Nov 23, 2016

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.

Why to stand outside ATMs when you can withdraw cash at BigBazaar

Why to stand outside ATMs when you can withdraw cash at BigBazaar

Tue, Nov 22, 2016

The Mini ATM facility is similar to banks ATMs.

Digital wallets on an offensive but how do people with feature phones benefit?

Digital wallets on an offensive but how do people with feature phones benefit?

Tue, Nov 22, 2016

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.

Dollar strengthened post Trump's win; Rupee saw median change

Dollar strengthened post Trump's win; Rupee saw median change

Tue, Nov 22, 2016

Today, the rupee opened nearly 5 paise up at 68.11 and closed at 68.22 against dollar.

Getting married soon? Can withdraw cash only if pandits, florists don’t have bank accounts

Getting married soon? Can withdraw cash only if pandits, florists don’t have bank accounts

Tue, Nov 22, 2016

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.’

Positive impact of demonetisation not 'strong' enough, says Fitch

Positive impact of demonetisation not 'strong' enough, says Fitch

Tue, Nov 22, 2016

The aim for withdrawing the notes was to curb black money, which is in line with government's agenda.

Demonetisation: Car dealerships see near zero sales

Demonetisation: Car dealerships see near zero sales

Tue, Nov 22, 2016

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.

Harvard Professor Larry Summers says demonetisation costs exceed benefits

Harvard Professor Larry Summers says demonetisation costs exceed benefits

Tue, Nov 22, 2016

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.’

Will credit payments to milk producers through banks, says Amul

Will credit payments to milk producers through banks, says Amul

Tue, Nov 22, 2016

Amul Chairman Jethabhai Patel on Monday said that the group will credit payments to its milk producers directly through the bank.

RBI sets stiff riders for Rs 2.5 lakh withdrawal for weddings

RBI sets stiff riders for Rs 2.5 lakh withdrawal for weddings

Mon, Nov 21, 2016

The application for withdrawal should also provide names of bride and groom, their identify proofs, addresses and date of marriage.

RBI gives 60 days additional time before a small loan classified as NPA

RBI gives 60 days additional time before a small loan classified as NPA

Mon, Nov 21, 2016

It has received several representations for some more time for small borrowers to pay their loan dues after demonetisation

Cash crunch puts brake on India's cotton exports; rivals to gain

Cash crunch puts brake on India's cotton exports; rivals to gain

Mon, Nov 21, 2016

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.

Cash crunch may push demand for luxury products to revive only next year

Cash crunch may push demand for luxury products to revive only next year

Mon, Nov 21, 2016

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.

Demonetisation chaos: Urjit Patel should resign, bank union chief demands

Demonetisation chaos: Urjit Patel should resign, bank union chief demands

Mon, Nov 21, 2016

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.

Rate, amount of black money regeneration to define ‘new normal’ of GDP growth

Rate, amount of black money regeneration to define ‘new normal’ of GDP growth

Mon, Nov 21, 2016

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.

Demonetisation: Deposits soar by Rs 5.44 lakh; withdrawals cross Rs 1 lakh crore

Demonetisation: Deposits soar by Rs 5.44 lakh; withdrawals cross Rs 1 lakh crore

Mon, Nov 21, 2016

Public have withdrawn amount upto Rs 1.03 lakh crore from their accounts.

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