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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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 21, 2016
The Income Tax department has come under tremendous pressure on account of shortage of staff and they may only focus on catching the big time tax evaders in the country.
The government has acknowledged that the disruption would last weeks because of delays in note printing and technical problems with ATM machines, but Modi has made a plea for patience until Dec. 30. The government said it could not have printed new notes or recalibrated cash machines in advance for fear of the move leaking out.
Sun, Nov 20, 2016
Such instances where the suspicion is found to be true will be prosecuted under the Benami Property Transactions Act, 1988.
Some affluent buyers have reportedly been paying almost twice the market value for gold in old notes.
SBI's cash deposits have swollen by over Rs 1.27 lakh crore as on November 17.
He added that the brand 'Made in India' is weak, which does not help exports.
All the petrol pumps in Goa were committed to accept old currency notes till November 24 as notified by the government.
As of March-end 2015, individual (excluding corporates and institutions) deposit values in banks stood at around Rs 50.6 lakh crore.
HSBC's forex strategists see the rupee weakening versus the USD to 68.0 by end-2016 and 69.5 by end-2017.
The wallet-to-wallet transactions would also see a big growth, the report said.
Sat, Nov 19, 2016
Massive outflow of foreign funds, along with rupee depreciation and political bickering over the government`s recent demonetisation move, plunged the key Indian equity markets by around 2.50 % during the just-concluded week.
Following the government’s announcement on the currency ban of Rs 500 and Rs 1,000 notes, a series of new developments and improvisations were declared.
Bengal's sweet tooth is set to turn bitter as makers of the popular rosogolla (rasgulla) and sandesh have been left battered by the central government`s decision to ban Rs 500 and Rs 1,000 currency notes in a bid to weed out black money.
Fri, Nov 18, 2016
However, senior citizens are exempted and they can go to any bank branch to exchange notes tomorrow.
The GDP growth is expected to contract in the third quarted of this fiscal.
To secure the POS system, any Wi-Fi systems should be password-protected.
GVA or Gross Value Added is a measure of the value of all goods and services produced in an economy.
Gold premiums in India jumped to two-year highs this week as jewellers ramped up purchases on fears that the government might put curbs on imports after withdrawing higher-denomination notes from circulation in its fight against black money.
India's palm oil imports are expected to slip next month by up to a fifth, including from the top two producers Indonesia and Malaysia, as New Delhi`s removal of high-value rupee notes from circulation disrupts distribution systems and curbs demand.
The company has seen a sudden surge in retail store transactions after the demonetisation of Rs 500, Rs 1,000 notes.
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