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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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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Note ban most disruptive policy innovation since 1991, says former RBI governor D Subbarao

Note ban most disruptive policy innovation since 1991, says former RBI governor D Subbarao

Thu, Jan 05, 2017

Former Reserve Bank of India (RBI) governor D Subbarao on Thursday termed demonetisation as "creative destruction and the most disruptive policy innovation since 1991 reforms" that has helped destroy blackmoney.

MobiKwik plans to achieve target of Rs 1,000 crore GMV in 2017

MobiKwik plans to achieve target of Rs 1,000 crore GMV in 2017

Thu, Jan 05, 2017

MobiKwik also announced that it is investing over Rs 50 crore in setting up new offices and will be hiring over 1,000 employees.

GDP may slump to 5% in Dec quarter, says HSBC

GDP may slump to 5% in Dec quarter, says HSBC

Thu, Jan 05, 2017

"We expect GDP to grow 5.0% in the October- December quarter and 6.0% in the January-March quarter, about 2 percentage points lower than we had expected before the demonetisation was announced," HSBC said in a research note.

97% of demonetised notes are back? RBI says don't know yet

97% of demonetised notes are back? RBI says don't know yet

Thu, Jan 05, 2017

RBI said, "We would like to clarify that the periodical Specified Bank Notes (SBN) figures released by us were based on aggregation of accounting entries done at the large no of Currency Chests all over the country. Now that the Scheme has come to an end on December 30, 2016, these figures would need to be reconciled with the physical cash balances to eliminate accounting errors/ possible double counts etc."

Interest Rate Cut: Real estate companies expect more to boost demand for housing

Interest Rate Cut: Real estate companies expect more to boost demand for housing

Thu, Jan 05, 2017

After all leading banks lowered their home loan rates, real estate developers are now expecting further rate cuts in order to boost demand for housing.

Demonetisation will help Indian economy tremendously, says Anil Agarwal, Chairman, Vedanta Ltd

Demonetisation will help Indian economy tremendously, says Anil Agarwal, Chairman, Vedanta Ltd

Thu, Jan 05, 2017

In conversation with Chairman of Vedanta, Anil Agarwal, Manoj Dharra talks about expectations from Budget 2017, Vedanta's performance impact due to demonetisation.

A road full of potholes for carmakers in 2017

A road full of potholes for carmakers in 2017

Thu, Jan 05, 2017

While automobile companies battling with demonetisation at the end of 2016 till currently, there are other roadblocks such as GST, emission norms, etc. which can bring the auto industry to grinding halt.

Tax collection to exceed budget estimates this fiscal: Arun Jaitley

Tax collection to exceed budget estimates this fiscal: Arun Jaitley

Wed, Jan 04, 2017

Finance Minister Arun Jaitley on Wednesday expressed confidence that direct and indirect tax mop-up will surpass Budget estimate of Rs 16.3 lakh crore by March-end.

Govt likely to meet fiscal deficit target of 3.5% of GDP in FY17: DBS

Govt likely to meet fiscal deficit target of 3.5% of GDP in FY17: DBS

Wed, Jan 04, 2017

Government is expected to meet the fiscal deficit target of 3.5% of GDP in the current financial year, despite recent demonetisation move and potential delay in roll out of the Goods and Services Tax (GST), says a report.

FMCG firms to see 5-6% drop in bottomline due to note ban

FMCG firms to see 5-6% drop in bottomline due to note ban

Wed, Jan 04, 2017

For the consumer goods sector as a whole, sales are down a whopping 40-70%, according to analysts.

Mahindra tractor, pick-up sales buck demonetisation impact

Mahindra tractor, pick-up sales buck demonetisation impact

Wed, Jan 04, 2017

Tractor sales grew by a large 9%, while pick-ups grew by 14% year-on-year despite demonetisation

Industry concerned over economic revival post demonetisation

Industry concerned over economic revival post demonetisation

Tue, Jan 03, 2017

Industrialists on Tuesday expressed their concerns about the revival of the economy post demonetisation in a closed-door meeting with Union Coal Minister Piyush Goyal in Kolkata. The minister met the country's top industrialists at the CII national council meeting.

Ad spends will stablise by the third quarter of 2017: SK Swamy, ASCI

Ad spends will stablise by the third quarter of 2017: SK Swamy, ASCI

Tue, Jan 03, 2017

The banking sector has lowered their ad spends in the two months since demonetisation, says Swamy.

Two-wheeler sales continue to suffer post demonetisation

Two-wheeler sales continue to suffer post demonetisation

Tue, Jan 03, 2017

Two-wheeler sales, specially those of motorcycles, have taken a beating in the aftermath of demonetisation as demand from the widely cash-based rural market nosedived.

Gujarat plant to cut waiting period for Baleno, Brezza: Maruti Suzuki

Gujarat plant to cut waiting period for Baleno, Brezza: Maruti Suzuki

Tue, Jan 03, 2017

With parent Suzuki's Gujarat plant set for commissioning later this month, the country's largest carmaker Maruti Suzuki India (MSI) expects to significantly reduce the waiting period for its high selling models Vitara Brezza and Baleno.

Paytm adds UPI to its digital wallet

Paytm adds UPI to its digital wallet

Tue, Jan 03, 2017

With the government pushing the use of UPI, Paytm has added the UPI feature on its app to enable users to transfer money to their digital wallets.

Here's why demonetisation did not dent sales of Tata Motors, Volkswagen, Renault, Nissan

Here's why demonetisation did not dent sales of Tata Motors, Volkswagen, Renault, Nissan

Tue, Jan 03, 2017

While many car companies posted a decline in car sales in December, which signifies the impact of demonetisation hitting the sales during the month.

End of Reason Sale: Myntra plans to deliver 50 lakh products

End of Reason Sale: Myntra plans to deliver 50 lakh products

Tue, Jan 03, 2017

Myntra's ‘biggest fashion sale of the country' which began on January 3 will last till January 5 and is the fifth edition of Myntra’s ‘End of Reason sale’ and has nearly 3.5 lakh products up for grabs at up to 80% discount.

Govt keeps inflation pressure at bay in 2016, but hiccups loom

Govt keeps inflation pressure at bay in 2016, but hiccups loom

Mon, Jan 02, 2017

In spite of a smooth transition to a new inflation-targeting mechanism, crude price rearing its ugly head is a grim reminder that it will be a tough job ahead to keep retail price increase at the 2016 level of around 5 %.

India's economy trumped Britain in 2016

India's economy trumped Britain in 2016

Mon, Jan 02, 2017

It is no mean achievement when Indian economy flexed its muscles in 2016 and briefly nosed ahead of Britain -- its once colonial master.

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