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.
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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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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.
Tue, Apr 04, 2017
While automobile companies had a good year at the start, the move to demonetise high currency notes in November hit their sales in the next few months.
Mon, Apr 03, 2017
State Bank of India, in a research report said, “It may be also noted that with the implementation of ban on cash transactions of over Rs 2 lakh from April 1, further decline in cash withdrawals may be a possibility.”
The government plans to change the security features of currency notes including the new Rs 2,000 and Rs 500 notes introduced post demonetisation era as they haven’t been changed in more than a decade a report by
Sun, Apr 02, 2017
It's passenger vehicle sales declined by 6% as it dropped to 25,352 units in FY17 from 26,885 units in FY16. UV sales too declined by 6% as it stood at 23,827 units in FY17 from 25,436 units in FY16.
After demonetisation failed to stop counterfeiting of Indian currency, the government now plans to change the security features every 3-4 years.
Car companies post a growth in sales in FY17.
Sat, Apr 01, 2017
The government waived the service charges after demonetisation in November last year to encourage digital modes of booking.
Fri, Mar 31, 2017
Currency in circulation as on March 24, 2017, was Rs 13.12 lakh crore, Rs 4.85 lakh crore less from total currency of Rs 17.97 lakh crore which stood at pre-demonetisation level.
The Reserve Bank of India (RBI) offices have turned down several Indians including NRIs went for exchanging old currency notes as the deadline ends on March 31, 2017.
It said 100 days of the DigiDhan melas will end with a mega draw on April 14.
Thu, Mar 30, 2017
A latest study has revealed that high housing loan interests and reluctance to borrow are dissuading Indian buyers who have to dig into savings to own a house.
Bank of America Merrill Lynch (BofAML) in its recent research note has said that RBI is likely to keep key interest rates unchanged on April 6 with further 25 basis points rate cut expectations in its next monetary policy meet on August 2.
Wed, Mar 29, 2017
Even though sudden demonetisation drive announced by Prime Minister Narendra Modi on November 8, 2016 was expected to hit tourism sector hard, it hasn't been the case. In November foreign tourist arrivals (FTAs) amounted to 8.9 lakh compared to 8.1 lakh the previous year.
Data show that although from October to November 2016 saw an over Rs 30,000 crore rise in deposits in Jan Dhan accounts, withdrawals are slowly inching up,
The central bank refused to accept his money saying that the exchange facility is available only to the Non-Resident Indians, the report added.
Mon, Mar 27, 2017
Under the PMGKY scheme, out of the total amount deposited 50% of the amount is taxed and 25% of the amount is kept with the government or Reserve Bank of India as non-interest bond for four year.
The Indian government`s November 8 move to demonetise Rs 500 and 1,000 bank notes has caused inconvenience to many Nepalis, especially daily-wage earners and labourers working in India.
Sun, Mar 26, 2017
In hallmark style, the banker swiftly set out to remake India's second-largest private-sector bank into the digital spot for anything money-related, it said.
It had also refused to allow access to minutes of the meetings held to decide on the issue of demonetisation of Rs 1,000 and Rs 500 notes.
"Net travel has registered the incremental increase of USD 1,469 million in the quarter, which is an all-time high (at least since 2000-01)," the report said.
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