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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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

BJP win people's endorsement of demonetisation: FM Jaitley

Sun, Mar 12, 2017

He however admitted that in Punjab, the two-term anti-incumbency had taken its toll.

RBI says note-ban impact on GDP over; warns of inflation spike

RBI says note-ban impact on GDP over; warns of inflation spike

Sat, Mar 11, 2017

The report also said the overall business climate should improve with the medium-term positive effects of demonetisation starting to gain traction.

Factory output bounces back in Jan, expands by 2.7%

Factory output bounces back in Jan, expands by 2.7%

Sat, Mar 11, 2017

Some important items that have registered high negative growth include 'HR Sheets', 'ship building and repairs', 'sugar', and 'PVC pipes and tubes'.

Why are two-wheeler sales struggling but car sales aren't?

Why are two-wheeler sales struggling but car sales aren't?

Fri, Mar 10, 2017

Two-wheelers continue to reel under demonetisation impact as February 2017 saw sales decline by 0.01% decline in comparison to the same month last year.

Unlike Paytm, MobiKwik says no to 2% fee for recharging wallets using credit cards

Unlike Paytm, MobiKwik says no to 2% fee for recharging wallets using credit cards

Thu, Mar 09, 2017

Post demonetisation, in order to boost the government’s vision of cash-less India, MobiKwik had a stated policy of revoking fees on uploading money through credit cards and the company reiterated its policy of continuity.

India's gold demand may touch up to 950 tonnes level by 2020 on economic growth, greater transparency says WGC

India's gold demand may touch up to 950 tonnes level by 2020 on economic growth, greater transparency says WGC

Wed, Mar 08, 2017

World Gold Council on Wednesday said India's gold demand may go up to 950 tonnes level by 2020 on back of economic growth and greater transparency.

Demonetisation impacts billionaire club; Mukesh Ambani richest

Demonetisation impacts billionaire club; Mukesh Ambani richest

Tue, Mar 07, 2017

India's billionaire club has shrunk by 11 people since the demonetisation last November, while Mukesh Ambani remains the richest Indian with a net worth of $ 26 billion, a study showed today.

Domestic tractor manufacturers to register 16 to 18% sales growth in FY17: Crisil

Domestic tractor manufacturers to register 16 to 18% sales growth in FY17: Crisil

Tue, Mar 07, 2017

Crisil Research on Tuesday said domestic tractor manufacturers are projected to record 16 to 18% growth in sales of tractors for FY17 on account of revival of sales due to good monsoon which offset the impact of demonetisation on demand in the second half of the fiscal.

Here are 5 key things you should look forward to in India's real estate sector this week

Here are 5 key things you should look forward to in India's real estate sector this week

Tue, Mar 07, 2017

From DLF negotiating agreement with GIC Singapore for 40% equity sale to Videocon selling Fort House for Rs 300 crore to Dawat-e-Hadiyah to Mutual Funds (MFs) to give 15 days for exit option to REITs, InvITs investors and much more happenings in India's real estate sector this week.

Rupee back to pre-demonetisation levels; what's next?

Rupee back to pre-demonetisation levels; what's next?

Tue, Mar 07, 2017

Rupee, on Tuesday, was trading at Rs 66.64 -- a level previously seen before Prime Minister Narendra Modi's demonetisation drive in the first week of November 2016.

India's GDP to grow at 7.1% in FY17 and 7.7% in FY17-18: Fitch

India's GDP to grow at 7.1% in FY17 and 7.7% in FY17-18: Fitch

Tue, Mar 07, 2017

The formal sector also remained surprisingly robust.

SC notice to Centre, RBI over cash deposit deadline

SC notice to Centre, RBI over cash deposit deadline

Tue, Mar 07, 2017

During the hearing, the bench observed: "Despite postulations, no individual has been permitted to deposit after December 31, 2016."

Charge on cash deposit: Why blame the banks when RBI approved move

Charge on cash deposit: Why blame the banks when RBI approved move

Mon, Mar 06, 2017

One of the reasons could be the rise in cash withdrawals since January 2017. RBI data show that people have already started withdrawing cash from their bank accounts in large numbers which has led to slowdown in digital transactions.

Can't disclose if Jaitley was consulted on notes ban: FinMin

Can't disclose if Jaitley was consulted on notes ban: FinMin

Sun, Mar 05, 2017

The Finance Ministry has taken refuge under the exemption clause of section 8(1)(a) of the Act to deny the information.

Two-wheeler February sales shows signs of gradual recover post demonetisation

Two-wheeler February sales shows signs of gradual recover post demonetisation

Sat, Mar 04, 2017

Domestic two-wheelers companies continued with the volume decline in the range of -5% to -6% YoY in February 2017 except Royal Enfield.

Benami Act violators to face double whammy of legal action: Income Tax Department

Benami Act violators to face double whammy of legal action: Income Tax Department

Fri, Mar 03, 2017

The Income Tax Department on Friday warned that those who undertake Benami transactions would invite Rigorous Imprisonment (RI) of up to seven years and such violators would also stand to be charged under the Income Tax Act (I-T Act).

China's technology firm LeEco fires 85% employees of Indian unit; may exit from India in next few months

China's technology firm LeEco fires 85% employees of Indian unit; may exit from India in next few months

Fri, Mar 03, 2017

China's technology company LeEco is reported to have fired 85% of its staff in India and may exit from its operations in the country in next few months.

Rs 70,000 crore black money detected so far: Justice Pasayat

Rs 70,000 crore black money detected so far: Justice Pasayat

Fri, Mar 03, 2017

"One of our proposals, on cash holding of Rs 15 lakh or more to be presumed as undisclosed, is under serious consideration of the central government," Justice Pasayat said, adding that on the SIT's recommendation the government has already declared that cash transaction beyond Rs 3 lakh will be treated as illegal and punishable under law.

To discourage cash transactions, HDFC Bank & others begin minimum levy of Rs 150 on cash deposits & withdrawals

To discourage cash transactions, HDFC Bank & others begin minimum levy of Rs 150 on cash deposits & withdrawals

Thu, Mar 02, 2017

To discourage cash transactions and boost the digital payments, banks like HDFC Bank and others have started charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.

Gap between India's GDP and GVA widens further

Gap between India's GDP and GVA widens further

Thu, Mar 02, 2017

Teresa John of Nirmal Bang in a report said, “Our earlier estimates had assumed no significant difference between GVA and GDP as both had exhibited a converging trend in the earlier quarters. However, the CSO believes that higher indirect tax collection and lower subsidies have pushed up the indirect tax component of GDP, resulting in divergence between GVA and GDP. “

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