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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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

Service sector still facing demonetisation impact, Nikkei PMI drops in April

Thu, May 04, 2017

The seasonally adjusted Nikkei India Composite PMI Output Index was down from 52.3 to 51.3 in April, and therefore signalled only a slight rate of expansion.

India continues to pull sluggish global gold demand higher

India continues to pull sluggish global gold demand higher

Thu, May 04, 2017

World Gold Council said, "The steady state of global demand concealed a more varied country-level picture. Gains were concentrated in India, Iran and the US, just outweighing modest losses elsewhere."

Did demonetisation hurt job creation? The answer may surprise you

Did demonetisation hurt job creation? The answer may surprise you

Tue, May 02, 2017

Third quarter of a financial year is between October 1 to December 31. PM Modi had announced demonetisation on November 8, 2016 which falls in the third quarter.

Akshaya Tritiya overcomes note-ban shadow, sees jump in gold sales

Akshaya Tritiya overcomes note-ban shadow, sees jump in gold sales

Fri, Apr 28, 2017

Gold price hovered around Rs 29,000 per 10 grams for 24-carat purity in the national capital on Friday.

Bank credit growth will inch up this year but will still remain weak

Bank credit growth will inch up this year but will still remain weak

Fri, Apr 28, 2017

Madan Sabnavis and Anuja Shah economists at Care Rating said, “Performance of in FY18 will depend on how the manufacturing sector fares as this is required for revival in growth in bank credit. With a share of above 40%, it is the driving force."

Paytm to pump in Rs 10,000 crore into banking, financial services

Paytm to pump in Rs 10,000 crore into banking, financial services

Thu, Apr 27, 2017

Paytm has been one of the biggest beneficiaries of the government move to scrap old notes of Rs 500 and Rs 1,000 in November last year.

Income tax filing: 9 changes that came into effect from April 1

Income tax filing: 9 changes that came into effect from April 1

Tue, Apr 25, 2017

Now every person will be asked to quote his Aadhaar details while filing taxes starting July 1st.

Public sector banks merger could help banking system: RBI Governor

Public sector banks merger could help banking system: RBI Governor

Tue, Apr 25, 2017

Patel said that divestment in public sector banks would have a positive role for the sector. "Divestment measures would improve overall banking sector health," he said.

Why are ATMs in India suddenly running dry again?

Why are ATMs in India suddenly running dry again?

Fri, Apr 21, 2017

As per LocalCircles survey, from April 13 - April 16, nearly 46% of Indian citizens could not find ATMs dispensing cash. In the first week of April 2017, about 36% of citizen has reported the similar problem.

Even without El-Nino possibility, these factors may keep inflation at 5%

Even without El-Nino possibility, these factors may keep inflation at 5%

Fri, Apr 21, 2017

Michael Debabrata Patra, member of MPC, in minutes of meeting of the RBI policy meet said, "True to projections made at the time of the last meeting of the Committee, inflation is turning up. It seems to me that it is coming out of the U-shaped compression imposed by demonetisation and is now positioned on the rising slope. Several factors merit pre-emptive concern."

Demonetisation still pulling Indian economy down

Demonetisation still pulling Indian economy down

Thu, Apr 20, 2017

Need to boost financial stability through full recognition of non-performing loans and raising public sector banks’ capital buffers, the rating agency said.

There is still room for banks to cut lending rates: RBI Governor Patel

There is still room for banks to cut lending rates: RBI Governor Patel

Thu, Apr 20, 2017

Vegetable prices, which had declined sharply during November 2016 to January 2017, seem to have stabilised but may go up in the coming months due to a seasonal pick up, Patel said.

India returned to fiscal consolidation in 2016-17: IMF

India returned to fiscal consolidation in 2016-17: IMF

Wed, Apr 19, 2017

Overhauling India's food and fertiliser subsidy regime through better targeting and efficiency could generate substantial fiscal gains, it said.

Is "liquidity" actually helping in reviving Indian markets?

Is "liquidity" actually helping in reviving Indian markets?

Wed, Apr 19, 2017

The market often confuses liquidity with institutional activity (net purchase or sale), in our view, Prasad added.

Digital payments in India reverse trend, grow in March

Digital payments in India reverse trend, grow in March

Wed, Apr 19, 2017

Vivek Kaul, author of Easy Money trilogy said, "There is a seasonality factor as well. March is the last month of the financial year and digital payments seem to go up during the course of the month, as people pay their taxes (advance income tax and service tax) as well as settle business payments between them."

Real Estate: No new launches in Mumbai, Gurugram & Noida as unsold houses peak

Real Estate: No new launches in Mumbai, Gurugram & Noida as unsold houses peak

Wed, Apr 19, 2017

India's cities like Mumbai, Gurugram and Noida have witnessed a minimum new launches of housing during the first quarter of 2017.

60-year low credit growth is a warning bell for banks

60-year low credit growth is a warning bell for banks

Tue, Apr 18, 2017

The outlook on the asset quality of the banking sector seems to be weak even as the fresh non-performing asset (NPA) generation rate continues to show signs of moderation.

Mumbai most keen to 'buy' while Delhi turns frugal, report shows

Mumbai most keen to 'buy' while Delhi turns frugal, report shows

Mon, Apr 17, 2017

As per the data released, Delhi came in last as its BPI in Q4FY17 stood at 0.27 -- lowest among eight major cities in India. Mumbai's BPI was highest at 0.58.

Withdrawal trend reverses in Jan Dhan accounts; deposits up Rs 1000 crore

Withdrawal trend reverses in Jan Dhan accounts; deposits up Rs 1000 crore

Sun, Apr 16, 2017

PMJDY was launched in August 2014 to increase banking penetration and promote financial inclusion in the country.

Demonetisation, BS III ban, raw material costs to play spoilsport in Q4 automobile results

Demonetisation, BS III ban, raw material costs to play spoilsport in Q4 automobile results

Sat, Apr 15, 2017

Passenger vehicles were the least impacted due to these headwinds and could post strong results in Q4.

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