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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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
Tue, Nov 28, 2017
The tax department has combed as many as 18 lakh people who had deposited junked 500 and 1000 rupee currency notes of over Rs 2.5 lakh each post demonetisation.
Mon, Nov 27, 2017
The CBDT has earlier directed the assessing officers to check the “genuineness and creditworthiness” of those people to whom the assessee has reported the additional sales in the revised returns, after the note ban.
Sun, Nov 26, 2017
The Indian government on November 8, 2016 started the demonetisation drive by banning high denomination Rs 500 and Rs 1,000 currency notes.
"Now you can say the Chinese imports have become less than half. During the demonetisation month (November 2016), it dropped by 20 per cent. GST coupled with anti-dumping duty, it has started to sink further," ATMA chairman Satish Sharma told reporters here.
Sat, Nov 25, 2017
Demonetisation were meant for flushing out black money, eliminate Fake Indian Currency Notes (FICN), to strike at the root of financing of terrorism and to give a big boost to digitalisation of payments to make India a less cash economy.
Speaking at a State Bank of India (SBI) event here, he said India is seeing "the replacement of a cash dominated economy with a more formal and digitised economy. One of the great changes will be the way India spends its money".
The government had on November 8 last year surprisingly cancelled all the banknotes in the Rs 1,000 and 500 denominations, which was around 86% of the money in circulation, with multiple objectives.
Fri, Nov 24, 2017
The government has clarified that it has no plans on scrapping the cheque book facility of banks.
Thu, Nov 23, 2017
The demonetisation exercise undertaken by the government last year has resulted in 56 lakh people joining the ranks of Income Tax payees, Vice President Venkaiah Naidu said here today.
Wed, Nov 22, 2017
Benami Transactions (Prohibition) Act forbids certain types of financial transactions. The 'benami' is defined as any transaction in which property is transferred to a person for certain consideration by another person.
Tue, Nov 21, 2017
Talking on list of factors in regards to Indian economy, the CEA Arvind Subramanian laid out various measures which the government can adapt for the country's long term prosperity.
After more than a decade, India witnessed first upgrade by Moody's Investor service on its economic outlook. This is expected to be followed by another two major rating agencies.
Sun, Nov 19, 2017
In an interview to PTI, Moody's Investors Service V-P (Sovereign Risk Group) William Foster said the agency believes that the government's commitment to fiscal consolidation remains and sustained growth would help it reduce debt burden.
The transaction volume at all points of sale (POSes) clipped higher by 86% to 378 million in September this year over the same period last year when it stood at 203 million, European payment solutions provider Worldline said in a weekend report quoting the Reserve Bank data.
Sat, Nov 18, 2017
The current BJP-led government has been pushing for the Aadhaar card to be mandatory and linked to everything including the pan card, bank account, mobile phones, drivers license and even for children admission into schools.
Fri, Nov 17, 2017
Recent reforms undertaken by the government of India provided 'greater confidence' that the high level of public indebtedness which is India's principal credit weakness will remain stable, Moody's said.
Wed, Nov 15, 2017
Prominent builders including Logix, Supertech, Sikka and Aims Gardenia will be audited in the first phase. Noida Authority CEO said the process will complete in 40 to 45 days.
Banks started scanning all the account details of directors who were disqualified by the Ministry of Corporate Affairs as part of alleged shell companies.
There was a 300 per cent jump in the number of applications for PAN (Permanent Account Number) post demonetisation, the CBDT said today.
Tue, Nov 14, 2017
Sushil Chandra, chairman, Central Board of Direct Taxes (CBDT) said despite closing of I-T returns filing time period, a number of entities and individuals failed to file their tax returns, as required under the 'Operation Clean Money' (OCM) initiated by the government to check black money post demonetisation.
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