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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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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Demonetisation just a bump; India to maintain 7% GDP growth: Cisco

Demonetisation just a bump; India to maintain 7% GDP growth: Cisco

Mon, Jan 09, 2017

Describing demonetisation as only a "bump", Cisco Executive Chairman John Chambers on Monday said India is well-positioned to maintain gross domestic product (GDP) growth rate of over 7% for the next few years and it should be a "top ally" for the US in the Asia Pacific region.

Now, pay your fuel bills at 41,000 petrol pumps across 550 plus districts via Paytm

Now, pay your fuel bills at 41,000 petrol pumps across 550 plus districts via Paytm

Mon, Jan 09, 2017

In a move to provide ease to customers facing hassles at petrol pumps of tendering exact change and enable cashless payment solution, Paytm on Monday announced its partnership with over 41,000 petrol pumps across 550 plus districts in India.

Petrol pumps defer decision to not accept card payments

Petrol pumps defer decision to not accept card payments

Mon, Jan 09, 2017

Petrol pump owners yesterday deferred till January 13 their decision to not accept credit and debit card payments for fuel sales after banks put off the move to levy the transaction (MDR) charge.

Parliamentary committee to question RBI governor on cash crunch

Parliamentary committee to question RBI governor on cash crunch

Sun, Jan 08, 2017

A parliamentary committee, probing the government`s decision to scrap high-value bank notes, has sent the country`s central bank governor a list of questions on the demonetisation process and asked him to appear before it on Jan. 20.

Income Tax detects Rs 4,807 crore black income; seizes Rs 112 crore new notes

Income Tax detects Rs 4,807 crore black income; seizes Rs 112 crore new notes

Sun, Jan 08, 2017

Over Rs 4,807 crore of undisclosed income has been detected while Rs 112 crore worth new notes have been seized by the Income Tax department as part of its country-wide operations against black money hoarders post demonetisation.

Note ban pulls down air cargo traffic by 12% in November: ICRA

Note ban pulls down air cargo traffic by 12% in November: ICRA

Sun, Jan 08, 2017

The demonetisation drive has not only badly hit the air cargo market leading to a 12 percentage points slump on a month-on-month basis but has also slowed down the passenger traffic growth in November to 19 % from 22 % in the rest of the year, says a report.

Tax dept to rope in auditors to probe bank deposits

Tax dept to rope in auditors to probe bank deposits

Sun, Jan 08, 2017

With an estimated Rs 15 lakh crore back in the banking system post demonetisation, the income tax department is in talks with leading global tax consultants, including EY, KPMG and PricewaterhouseCoopers, for forensic audit of the data to see if any of it is laundered money.

IT department asks banks to report cash deposits in accounts from April-November

IT department asks banks to report cash deposits in accounts from April-November

Sun, Jan 08, 2017

The Income Tax department on Sunday asked banks to report on cash deposits in accounts from the period April 1 to November 9, 2016, Times Now tweeted.

Must Read: Article on demonetisation by Finance Minister Arun Jaitley

Must Read: Article on demonetisation by Finance Minister Arun Jaitley

Sun, Jan 08, 2017

Sunday morning, Finance Minister, Arun Jaitley penned his thoughts on the demonetisation move by the Modi-led government.

Demonetisation may pull down India's near-term economic growth

Demonetisation may pull down India's near-term economic growth

Fri, Jan 06, 2017

With India's GDP growth expected to slow down to 7.1% during 2016-17 from 7.6% in the previous fiscal, India Inc on Friday said further downward risks to growth prevail as demonetisation may pull down economic growth in the next one or two quarters.

Expert Views: India forecasts GDP growth to slow to 7.1% in 2016-17

Expert Views: India forecasts GDP growth to slow to 7.1% in 2016-17

Fri, Jan 06, 2017

The Indian government said economic growth would slow down to 7.1 % in the fiscal year ending in March from 7.6 % a year earlier.

GDP growth revised lower but doesn't factor in demonetisation

GDP growth revised lower but doesn't factor in demonetisation

Fri, Jan 06, 2017

The growth in GDP during 2016-17 is estimated at 7.1% as compared to the growth rate of 7.6% in 2015-16, Ministry of Statistics & Programme Implementation said.

Rupee to fall to Rs 69.50 against dollar value over coming year: Reuters poll

Rupee to fall to Rs 69.50 against dollar value over coming year: Reuters poll

Fri, Jan 06, 2017

The rupee is expected to fall further against the U.S. dollar this year to a record low, hit by rising global bond yields and an economic blow from New Delhi`s dramatic currency crackdown launched two months ago, a Reuters poll found.

Here's how Royal Enfield sales raced ahead in December despite demonetisation

Here's how Royal Enfield sales raced ahead in December despite demonetisation

Fri, Jan 06, 2017

Royal Enfield was the only two-wheeler company in December to register a growth in sales.

5 tips for buying property post-demonetisation

5 tips for buying property post-demonetisation

Fri, Jan 06, 2017

In a surprise move to curb black money, corruption and terrorism, prime minister Narendra Modi on November 8 announced scrapping of old currency notes of Rs 500 and Rs 1,000 as legal tender from circulation resulting in cash crunch and chaos aross various sectors including real estate.

Toyota Kirloskar Motor sales up 16% in November-December

Toyota Kirloskar Motor sales up 16% in November-December

Fri, Jan 06, 2017

Footfalls and customer enquiries, however, saw slight improvement in December.

Demonetisation impact: Banks' loan growth likely to drop by 5% in Q3FY17

Demonetisation impact: Banks' loan growth likely to drop by 5% in Q3FY17

Fri, Jan 06, 2017

Repayments from loans completing the restructuring moratorium were higher during the quarter.

Full Text: 10 things President Pranab Mukherjee's said on demonetisation

Full Text: 10 things President Pranab Mukherjee's said on demonetisation

Fri, Jan 06, 2017

President of India Pranab Mukherjee delivered his address to Governors and Lt. Governors via video conferencing on January 5, 2017 where he gave his views on demonetisation and Indian economy.

Take extra care to lessen suffering of poor post note ban, says president Pranab Mukherjee

Take extra care to lessen suffering of poor post note ban, says president Pranab Mukherjee

Thu, Jan 05, 2017

Extra care must be taken to alleviate sufferings of the poor triggered by economic slow down which has become unavoidable post demonetisation, President Pranab Mukherjee said on Thursday.

Demonetisation hits consumer buying sentiment, TRA Research says

Demonetisation hits consumer buying sentiment, TRA Research says

Thu, Jan 05, 2017

With consumers facing a severe cash crunch due to demonetisation led to lower consumer spends.

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