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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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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Jan Dhan deposits rose Rs 29,000 crore in month post-note ban

Jan Dhan deposits rose Rs 29,000 crore in month post-note ban

Mon, Jan 30, 2017

Deposits in Jan Dhan accounts have grown by more than 50% since the demonetisation announcement.

Himalya International unhurt by note ban, clocks 80% growth in December quarter

Himalya International unhurt by note ban, clocks 80% growth in December quarter

Sun, Jan 29, 2017

Himalya International Ltd, a diversified food processing company, today said the "tumultuous phase" of demonetisation did not have any impact on the firm as it posted an 80 per cent growth in the December quarter against the corresponding period a year ago.

Tax dept leans on 'Big Data' to mark out multiple PAN holders

Tax dept leans on 'Big Data' to mark out multiple PAN holders

Sun, Jan 29, 2017

To plug tax loopholes, the I-T department will use Big Data analytics to track down evaders by collecting information such as common address, mobile number and e-mail to establish relationship between their multiple PANs.

RBI may push back AQR exercise by few months on Demonetisation impact

RBI may push back AQR exercise by few months on Demonetisation impact

Sun, Jan 29, 2017

The Reserve Bank is expected to extend the deadline for asset quality review (AQR) of lenders by a few months because of the unusual situation in the financial sector following demonetisation, bankers said.

Trumponomics, cash ban take Foreign Portfolio Invt outflow to Rs 5,600 crore in Jan

Trumponomics, cash ban take Foreign Portfolio Invt outflow to Rs 5,600 crore in Jan

Sun, Jan 29, 2017

Foreign investors have pulled out a little over Rs 5,600 crore from the Indian capital market so far this month, concerned about "lower prospects" of economic growth compared with other emerging markets.

L&T Q3 net up 39% at Rs 972 crore, company says note ban 'a disruptor'

L&T Q3 net up 39% at Rs 972 crore, company says note ban 'a disruptor'

Sat, Jan 28, 2017

Larsen & Toubro (L&T), which today reported a 38.85 % jump in its consolidated net profit at Rs 972 crore for the December quarter, said the government's "cashless economy" efforts have caused "disruption" and its impact on business is yet to be assessed.

Movement towards digital transactions to continue: Modi

Movement towards digital transactions to continue: Modi

Sat, Jan 28, 2017

Prime Minister Narendra Modi on Saturday said India would continue moving towards digital transactions to make the country a less cash society -- an initiative following the spiking of old 500 and 1,000 rupee notes.

Budget 2017: IT companies expect govt to support R&D practices, Digital India, tax rebates

Budget 2017: IT companies expect govt to support R&D practices, Digital India, tax rebates

Fri, Jan 27, 2017

IT companies expect the government to announce support for research and development (R&D) practices, Digital India, tax rebates and concessions for new-age technological innovations, among others in Budget 2017.

Budget 2017: Infra, housing to be in focus; see top stock picks

Budget 2017: Infra, housing to be in focus; see top stock picks

Fri, Jan 27, 2017

Analysts believe that this Union Budget 2017 will focus on reviving infrastructure and housing sector to offset the impact of demonetisation.

Rural wage growth defies demonetisation, rises to 7.3% in November: Nomura

Rural wage growth defies demonetisation, rises to 7.3% in November: Nomura

Fri, Jan 27, 2017

India's nominal rural agricultural wages growth rises to 7.3% in November on the back of hike in minimum wages announced by the government in September last year.

From reviving consumption to creating jobs: These are 5 key themes of Modi's Budget 2017

From reviving consumption to creating jobs: These are 5 key themes of Modi's Budget 2017

Fri, Jan 27, 2017

Budget 2017 will be based on five key themes right from reviving the capex cycle, rural economy to creating jobs.

Enrolment doubled post demonetisation; 111 crore Indians now have Aadhaar numbers

Enrolment doubled post demonetisation; 111 crore Indians now have Aadhaar numbers

Fri, Jan 27, 2017

111 crore out of 125 crore Indians now have Aadhaar numbers, Ravi Shankar Prasad, Minister of Electronics & IT and Law & Justice said in New Delhi today.

Colgate Palmolive's Q3 net profit declines by 23%

Colgate Palmolive's Q3 net profit declines by 23%

Fri, Jan 27, 2017

Issam Bachaalani, Managing Director at Colgate-Palmolive (India) said, “In the awake of the liquidity crunch during the quarter, we took proactive measures to support our business partners to ensure ease of business. We extended credit to our customers, provided additional incentives, accelerated processing of trade claims and advanced payments to our supply chain partners to address liquidity issues.”

Budget 2017: Govt should announce policies to support sectors with immense job growth potential, says Crisil

Budget 2017: Govt should announce policies to support sectors with immense job growth potential, says Crisil

Fri, Jan 27, 2017

Crisil expects government to announce supportive policies sectors in Budget 2017 to create jobs.

Demonetisation bites: Oberoi Realty's Q3 net profit declines 60%

Demonetisation bites: Oberoi Realty's Q3 net profit declines 60%

Fri, Jan 27, 2017

Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, "While initially demonetisation did its short-term consequences, we are confident that the sales volume will be more than restored in coming quarters of 2017."

Demonetisation affected repayment of auto loans: Fitch Ratings

Demonetisation affected repayment of auto loans: Fitch Ratings

Fri, Jan 27, 2017

According to Fitch, small auto loan borrowers have been affected the most but that would not impact credit ratings as there are sufficient external credit enhancement to cover the likely short-term impact on the lenders rated by it.

Demonetisation: Government may offer second chance to deposit old notes of Rs 500 & Rs 1,000

Demonetisation: Government may offer second chance to deposit old notes of Rs 500 & Rs 1,000

Thu, Jan 26, 2017

The Government of India may give a second chance to citizens of the country to deposit old currency notes of Rs 500 and Rs 1,000.

Unilever ends 2016 with fourth quarter sales growth below estimates in India, Brazil

Unilever ends 2016 with fourth quarter sales growth below estimates in India, Brazil

Thu, Jan 26, 2017

Unilever has reported below estimated sales growth for the fourth quarter (Q4) of 2016 in India and Brazil.

FMCG companies expect Budget 2017 to be growth oriented to boost demand

FMCG companies expect Budget 2017 to be growth oriented to boost demand

Thu, Jan 26, 2017

After taking a demonetisation hit, fast moving consumer goods (FMCG) companies are pinning hopes on a growth oriented Budget to see a revival in consumer confidence and create demand both in urban and rural markets.

Make in India: 75% of smartphones sold in India since September 2016 were made locally

Make in India: 75% of smartphones sold in India since September 2016 were made locally

Thu, Jan 26, 2017

More than 83 million smartphones sold in India in 2016 were 'Made in India'. In Q4 2016, 3 out of 4 smartphones sold in the country were manufactured domestically, a Counterpoint Research report said.

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