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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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 18, 2016
Cash deposits in State Bank of India reach Rs 1.27 lakh crore
Exchange of old note transactions reach Rs 6,477 crore, says SBI
SBI says cash withdrawal transactions amount to Rs 23,337 crore
Thu, Nov 17, 2016
The Finance Minister also said that 22,500 ATMs would be re-calibrated on Thursday.
Reserve Bank has asked income tax assessees to pay their dues in advance for December quarter and has designated a total of 29 banks at which the payments can be done.
The RBI released a notification where it requested that there is no need to panic or hoard currency notes.
Branded retail segments have outperformed the new entrants and online fashion retailers as Indian consumers are seen to upgrade to the big players.
The industry is in talks with the Reserve Bank of India and Finance Ministry to allow MFIs to collect discontinued currency.
There have been a lot of rumours going around about the demonetisation move of PM Narendra Modi and the government sought to put them to rest with a series of tweets on Wednesday night.
The barometer 30-scrip sensitive index (Sensex) dipped by 5.94 points or, 0.02 per cent at the closing. In the day`s trade, the index touched a high of 26,621.40 points and a low of 26,239.21 points. The Nifty, was up by 3.15 points, or 0.04 per cent.
Wed, Nov 16, 2016
The opposition leaders in the Rajya Sabha on Wednesday demanded the presence of Prime Minister Narendra Modi in the upper house of Parliament to listen to their views on demonetisation.
Retailers in India have seen a 50-70% drop in sales within the first 5 days as an impact of demonetisation, said RAI.
The Reserve Bank of India (RBI) on Wednesday laid down a standard operating procedure to ensure the smooth transaction of money and application of indelible ink on people’s fingers.
Experts expect investments in FDs to rise as banks offer better-than-savings interest rates for a limited time.
Tue, Nov 15, 2016
With government's decision to stop toll collection till November 18 hitting concessionaires, National Highways Authority of India (NHAI) has proposed to compensate up to 75 % of the losses due to the move resulting from demonetisation.
Under the so-called demonetisation scheme, people are allowed to exchange up to 4,500 rupees once only.
Paytm on Monday said its overall traffic has increased by 700% with over 1000% growth in the amount of money added to its account after the government’s demonetisation move.
In yet another move to lessen woes of people facing cash crunch, the RBI directed banks to waive ATM charges on all transactions done by savings bank customers till December 30.
Mon, Nov 14, 2016
While the Rs 2,000 note`s paper is in magenta, the Rs 500 note is in stone gray.
In anticipation of the huge demand for lower currency notes, ahead of the demonetisation move, the Reserve Bank of India (RBI) had asked banks to set up Automated Teller Machines which dispensed only Rs 100 notes.
As per RBI, re-calibration of ATMs involves multiple agencies – banks, ATM manufacturers, NPCI, Switch Operators.
Finance Ministry on Sunday late night said that old currencies of Rs 500 and Rs 1,000 denominations will be accepted for another 10 days at government hospitals, petrol pumps and toll booths.
Exchange of these notes at specified places was earlier allowed only up till November 11.
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