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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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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Reserve Bank of India may consider a rate cut in first half of 2017: DBS

Reserve Bank of India may consider a rate cut in first half of 2017: DBS

Tue, Jan 17, 2017

The Reserve Bank of India (RBI) is expected to go for a rate cut in the first half of this year, largely owing to 'below estimate' inflation, says a DBS report. Rising prices of petrol and diesel fuelled Wholesale Price Index (WPI) inflation to 3.39% in December 2016.

Note ban can do little to stop future black money flow: Assocham

Note ban can do little to stop future black money flow: Assocham

Tue, Jan 17, 2017

The study pointed out that high denomination currency withdrawal is not without some inherent problems.

MobiKwik registers 10 times growth in oil, gas sector

MobiKwik registers 10 times growth in oil, gas sector

Tue, Jan 17, 2017

Domestic mobile wallet major MobiKwik on Tuesday announced that it registered 10 times growth within the past week in transactions from the oil and gas sector.

Mini ATMs, e-payments boost Future Retail's sales post demonetisation

Mini ATMs, e-payments boost Future Retail's sales post demonetisation

Tue, Jan 17, 2017

The sales volume of fashion and lifestyle retailer Future Retail registered a boost of 20% after demonetisation, a report by The Times of India said, quoting CEO Kishore Biyani.

Cashless transactions in IOC petrol pumps rise to 27% in Bengal

Cashless transactions in IOC petrol pumps rise to 27% in Bengal

Tue, Jan 17, 2017

Already, 19.5 lakh LPG connections has been release so far.

Indian CEOs most confident on short-term revenue growth: Survey

Indian CEOs most confident on short-term revenue growth: Survey

Tue, Jan 17, 2017

Around 29% believe that global economic growth would pick up in 2017.

Over 50% people switched to online grocery shopping after demonetisation: Survey

Over 50% people switched to online grocery shopping after demonetisation: Survey

Mon, Jan 16, 2017

A major reason for people to order grocery products online was the cash free transactions.

SBI Card says note-ban pushes up spends by 30%

SBI Card says note-ban pushes up spends by 30%

Mon, Jan 16, 2017

The second largest credit card player SBI Card on Monday said post-noteban, the total spends on its cards have increased by 25-30%, despite fall in certain segments like fuel, jewellery and other discretionary spending.

IMF cuts India's GDP forecast for FY17 to 6.6%

IMF cuts India's GDP forecast for FY17 to 6.6%

Mon, Jan 16, 2017

The International Monetary Fund (IMF) cut India's growth forecast for the current financial year (FY17) by 1% and cut it by 0.4% for the next fiscal year. The reason for this is primarily due to the demonetisation move taken by the government in November 2016.

Demonetisation: United Bank of India sees credit growth at 7-8% by end of FY17

Demonetisation: United Bank of India sees credit growth at 7-8% by end of FY17

Mon, Jan 16, 2017

Credit growth of United Bank of India (UBI) at the end of financial year 2016-17 (FY17) will be as low as 7-8% due to demonetisation impact, its MD and CEO P Bajaj said.

India's current account deficit likely to be 1.3% of GDP in 2017: Nomura

India's current account deficit likely to be 1.3% of GDP in 2017: Nomura

Mon, Jan 16, 2017

India's current account deficit (CAD) is expected to be around 1.3% of GDP in 2017 as against a deficit of 0.8% in 2016, says a report.

Indian consumers most optimistic in Asia Pacific: Mastercard

Indian consumers most optimistic in Asia Pacific: Mastercard

Mon, Jan 16, 2017

Notwithstanding demonetisation, Indian consumers are the most optimistic in the Asia Pacific region and their outlook on economy and stock market showed highest levels of confidence, says a report.

RBI may hike weekly cash withdrawal limit to Rs 40,000: Source

RBI may hike weekly cash withdrawal limit to Rs 40,000: Source

Mon, Jan 16, 2017

The hike in the cash withdrawal limit also comes ahead of the presentation of the annual budget on February 1.

Limited room to reduce fiscal deficit to 3% in FY18: Moody's

Limited room to reduce fiscal deficit to 3% in FY18: Moody's

Mon, Jan 16, 2017

The government is likely to achieve its fiscal deficit target of 3.5% of GDP in the current fiscal but higher infrastructure spending will limit the room to reduce it further to 3% in 2017-18, Moody's said on Monday.

Luxury car sales zoom in December despite demonetisation

Luxury car sales zoom in December despite demonetisation

Mon, Jan 16, 2017

Luxury cars priced under Rs 25 lakh saw a over 230% growth in sales in December compared to the same month last year.

RBI has no data on scams in co-op banks post demonetisation: RTI

RBI has no data on scams in co-op banks post demonetisation: RTI

Mon, Jan 16, 2017

Six days after the demonetisation, the Centre had abruptly overturned its decision to permit note exchanges.

Wholesale inflation rises to 3.39% in December

Wholesale inflation rises to 3.39% in December

Mon, Jan 16, 2017

Wholesale Price index (WPI) or Wholesale inflation rose to 3.39% (provisional) for the month of December, 2016 (over December, 2015) as compared to 3.15% (provisional) for the previous month and -1.06% during the corresponding month of the previous year, said Ministry of Commerce and Industry.

Wholesale inflation data for December today

Wholesale inflation data for December today

Mon, Jan 16, 2017

This time, the wholesale inflation numbers will be crucial as it will give a clear picture of impact of demonetisation.

Finance Ministry finalising fund infusion for PSBs to exceed Rs 25,000 crore

Finance Ministry finalising fund infusion for PSBs to exceed Rs 25,000 crore

Sun, Jan 15, 2017

The Finance Ministry is likely to finalise capital infusion plan for public sector banks (PSBs) this week based on the request of various lenders which have been impacted by demonetisation amid rising bad loans.

Realty hit hard by demonetisation, awaits 'white money' buyers

Realty hit hard by demonetisation, awaits 'white money' buyers

Sun, Jan 15, 2017

Property market, long considered a black money safe haven, seems to have taken a big hit from demonetisation, with developers seeing their sales drop by about 50 % in the last three months and now pinning their hopes on buyers coming to market with 'white money'.

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