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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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.

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Demonetisation Data: On Banned Rs 500, Rs 1000 Currency Notes, Here's Latest RBI Answer

Demonetisation Data: On Banned Rs 500, Rs 1000 Currency Notes, Here's Latest RBI Answer

Sun, Mar 10, 2019

The RBI in reply to an RTI query said it has no data on the old 500 and 1,000 rupee notes used to pay for utility bills such as fuel at petrol pumps, which are believed to have formed a good part of the demonetised currency that returned to the banking system.

Where is Black Money? Report reveals this location, two years after demonetisation

Where is Black Money? Report reveals this location, two years after demonetisation

Fri, Feb 22, 2019

Contrary to the popular belief, reports of three studies commissioned by the government say that 90-97.2% of the black money is inside the country while only 2.8-19% has been taken out of the country.

PM credits noteban for bringing down house prices

PM credits noteban for bringing down house prices

Wed, Jan 30, 2019

Prime Minister Narendra Modi on Wednesday credited the demonetisation exercise by his government for bringing down prices of houses and making them affordable for the youth.

India needs more currency, says source, reveals why

India needs more currency, says source, reveals why

Thu, Jan 17, 2019

With the country's GDP size increasing in quantitative terms, there could be need for more currency in the economy, a source said here Thursday.

Rs 2000 note printing stopped? Will it remain valid? Here's government's response

Rs 2000 note printing stopped? Will it remain valid? Here's government's response

Fri, Jan 04, 2019

Over two years after the launch of new Rs 2000 currency notes post the shock demonetisation decision, the government is said to have stopped printing them, according to a media report.

Narendra Modi’s first interview of 2019

Narendra Modi’s first interview of 2019

Tue, Jan 01, 2019

In an interview with ANI on the first day of the New Year, PM Narendra Modi spoke on a range of topics—from the Ram Mandir issue to Pakistan, surgical strikes and 2019 Lok Sabha elections.

PM Modi defends govt on criticism over demonetisation, Urjit Patel's resignation as RBI governor

PM Modi defends govt on criticism over demonetisation, Urjit Patel's resignation as RBI governor

Tue, Jan 01, 2019

Prime Minister Narendra Modi on Wednesday said that the demonetisation drive announced by him on November 8, 2016 was not a shock as the government had warned people having black money a year ago. Responding to criticism over surprise resignation of Urjit Patel as RBI Governor, PM Modi said that the former requested to resign on personal reasons, adding that there was no political pressure on him.

Liquidity crunch, affordable housing mark Indian realty's revival year

Liquidity crunch, affordable housing mark Indian realty's revival year

Wed, Dec 26, 2018

The year turned out to be an eventful one for the Indian real estate marked by the improvement in sales and its return to stability after the double blow of GST and demonetisation.

Demonetisation slowed down GDP by 2 percentage points in Q4 2016, says economist Gita Gopinath

Demonetisation slowed down GDP by 2 percentage points in Q4 2016, says economist Gita Gopinath

Tue, Dec 18, 2018

India-born Harvard professor Gopinath, 46, is set to take charge as the chief economist at the International Monetary Fund (IMF) next month. The paper further said that districts experiencing more severe demonetisation had relative reductions in economic activity, faster adoption of alternative payment technologies and lower bank credit growth.

Kotak Mahindra Bank chief Uday Kotak says demonetisation was poorly executed

Kotak Mahindra Bank chief Uday Kotak says demonetisation was poorly executed

Mon, Dec 10, 2018

The outcome of the controversial demonetisation drive would have been "significantly better" if "simple things" like introducing Rs 2,000 currency notes were avoided, banker Uday Kotak has said.

Demonetisation threw up political, economic puzzles: Arvind Subramanian

Demonetisation threw up political, economic puzzles: Arvind Subramanian

Mon, Dec 10, 2018

Subramanian, currently teaching at Harvard Kennedy School, and here for the launch of his book "Of Counsel: The Challenges of the Modi-Jaitley Economy", published by Penguin, referred to the chapter "The Two Puzzles of Demonetisation -- Political and Economic".

India a cashless economy? Digital transactions continue to rise, UPI gains popularity; know how digital payment industry see ache din

India a cashless economy? Digital transactions continue to rise, UPI gains popularity; know how digital payment industry see ache din

Fri, Nov 30, 2018

Not many regions especially the rural areas, have been comfortable in using digital portals. However, electronic payment system has been a success story for the NDA government.

Demonetisation a massive, draconian, monetary shock: Arvind Subramanian

Demonetisation a massive, draconian, monetary shock: Arvind Subramanian

Thu, Nov 29, 2018

Breaking his silence on the November 8, 2016 decision of PM Modi, Arvind Subramanian says that he does not have a strongly-backed empirical view apart from the fact that the welfare costs, especially on the informal sector, were substantial.

SBI, HDFC, ICICI, Axis, PNB, other bank's customers, you may face ATM cash crunch soon

SBI, HDFC, ICICI, Axis, PNB, other bank's customers, you may face ATM cash crunch soon

Sat, Nov 24, 2018

The country may face massive cash crunch like post demonetisation period as half of India's ATMs could shut down by March 2019.

Two years of Demonetisation: Did India become a cashless economy? Impact of notebandi decoded

Two years of Demonetisation: Did India become a cashless economy? Impact of notebandi decoded

Thu, Nov 08, 2018

Two years ago on this day, 8th November, 2016, some must still remember how they stood in long bank ATM queues, desperately hoping to remove some cash - from their own accounts! Cash, that had suddenly been banned by an edict from PM Narendra Modi.

Demonetisation of Rs 500, Rs 1,000 notes anniversary: On Facebook, Arun Jaitley lists achievements; top 10 quotes

Demonetisation of Rs 500, Rs 1,000 notes anniversary: On Facebook, Arun Jaitley lists achievements; top 10 quotes

Thu, Nov 08, 2018

Today is the anniversary of demonetisation of old Rs 500 and Rs 1000 currency notes that constituted 86 per cent of the currency in circulation. In effect, Rs 500 and Rs 1000 notes were banned.

Demonetisation anniversary: Arun Jaitley defends PM Modi; read full text of Facebook blog

Demonetisation anniversary: Arun Jaitley defends PM Modi; read full text of Facebook blog

Thu, Nov 08, 2018

Demonetisation anniversary: While we continue to celebrate the festive season across India, yesterday was Diwali itself, it should be remembered that today is the day when demonetisation was announced, which undoubtedly left everyone thunderstruck and dealt a massive blow to your bank ATM card, cash in hand and a whole 86% of the country's currency chest.

Battle for Dignity or Power Play? It is RBI vs Govt; Urjit Patel, Viral Acharya at center stage

Battle for Dignity or Power Play? It is RBI vs Govt; Urjit Patel, Viral Acharya at center stage

Tue, Oct 30, 2018

Government officials may blame RBI for talking about regulatory matters openly, but in a big relief for Governor Urjit Patel, the central bank’s union has taken up cudgels on his behalf.

Demonetisation of Rs 500, Rs 1000 currency notes failed to throw up black money

Demonetisation of Rs 500, Rs 1000 currency notes failed to throw up black money

Thu, Aug 30, 2018

Demonetisation of Rs 500, Rs 1000 currency notes: About 99.3% of high value currency banned in Nov 2016 has returned, says RBI.

MSMEs export hit more by GST issues than note ban: Report

MSMEs export hit more by GST issues than note ban: Report

Sat, Aug 18, 2018

Micro, Small and Medium Enterprises (MSMEs), considered a powerful engine of the country's economic growth, are contributing around 40 per cent of the overall shipments from India.

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