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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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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Deposit in bank acounts of political parties exempt from tax, says Hasmukh Adhia

Deposit in bank acounts of political parties exempt from tax, says Hasmukh Adhia

Sat, Dec 17, 2016

As it levies stiff penalties on unaccounted cash in banks, the government on Friday said political parties depositing old Rs 500 and Rs 1,000 notes in their accounts will be exempt from income tax.

I-T department sends 3,000 notices for high bank deposits post notes ban

I-T department sends 3,000 notices for high bank deposits post notes ban

Sat, Dec 17, 2016

Income Tax department (I-T) has issued around 3,000 notices to assessees for unmatched deposits in bank accounts, while it has seized a total of Rs 393 crore in cash and jewellery over the past five weeks.

The whole process of remonetisation will not take long time: Arun Jaitley

The whole process of remonetisation will not take long time: Arun Jaitley

Sat, Dec 17, 2016

Finance Minister Arun Jaitley on Saturday hinted that not all of the Rs 15.44 lakh crore worth of currency junked will be remonetised through issuance of new notes as he said digital currency will fill the gap.

CBI registers cheating case against 15 customers on Paytm's complaint

CBI registers cheating case against 15 customers on Paytm's complaint

Sat, Dec 17, 2016

Acting on a complaint from digital wallet company Paytm, Central Bureau of Investigation (CBI) has registered a case against 15 customers of the company over allegations of cheating it to the tune of Rs 6.15 lakh.

RBI lowers MDR charges for up to Rs 2,000 payments via debit card

RBI lowers MDR charges for up to Rs 2,000 payments via debit card

Sat, Dec 17, 2016

To encourage digital transactions, the Reserve Bank of India (RBI) on Friday decided to slash MDR charges on payments made through debit cards and do away with levies on small transactions through mobile phones and Internet from January 1 to March 31.

Cess on cash handling, levy on digital payments minimal, says Amitabh Kant

Cess on cash handling, levy on digital payments minimal, says Amitabh Kant

Sat, Dec 17, 2016

Cash shortage following the demonetisation of high value currency notes will end by mid-January, NITI Aayog CEO Amitabh Kant said on Friday while hinting that cash handling would be dearer in future by way of a cess.

Undisclosed income of Rs 2600 crore unearthed since November 8

Undisclosed income of Rs 2600 crore unearthed since November 8

Fri, Dec 16, 2016

The Ministry said that while the searches have been carried out in 291 cases across the country, 295 cases have been covered by survey action.

Countless hours lost over demonetisation; parliament sees least productive session in 15 years

Countless hours lost over demonetisation; parliament sees least productive session in 15 years

Fri, Dec 16, 2016

In what has proven to be the ‘least productive session’ in parliament in 15 years, the issue of demonetisation disrupted the parliament repeatedly this winter.

Five ideas for tax saving if you have deposited idle cash

Five ideas for tax saving if you have deposited idle cash

Fri, Dec 16, 2016

This money deposited by you may have been received as gift or held by you as a reserve to meet exigencies.

Digital economy remains a 'no-show' as transactions fails to gain momentum

Digital economy remains a 'no-show' as transactions fails to gain momentum

Fri, Dec 16, 2016

As per RBI, in the month of November 2016, a total of 671.5 million transactions took place with a total value of Rs 94,004.2 billion.

Loans against property pose increased risk as demonetisation exposes quality risk

Loans against property pose increased risk as demonetisation exposes quality risk

Fri, Dec 16, 2016

With the availability of credit, it is easy for borrowers to refinance their debt.

BMW to have petrol options for all cars; rolls out new model

BMW to have petrol options for all cars; rolls out new model

Thu, Dec 15, 2016

The third largest luxury carmaker BMW India, which today launched the fourth model from its Mini stable here, hopes to have petrol variants for all its nearly a dozen models by next year.

Govt is emphasising on providing cash to rural areas, says Shaktikanta Das

Govt is emphasising on providing cash to rural areas, says Shaktikanta Das

Thu, Dec 15, 2016

He said notes seized from illegal accumulations are being put back into the circulation as soon as possible.

Govt announces 'Christmas Gift' of Rs 340 crore to spur digital payments

Govt announces 'Christmas Gift' of Rs 340 crore to spur digital payments

Thu, Dec 15, 2016

Amitabh Kant announced schemes which incentivise transactions as small as Rs 50 to Rs 3,000 to encourage digital payments.

Income Tax raids Axis Bank branch, seizes 20 fake accounts

Income Tax raids Axis Bank branch, seizes 20 fake accounts

Thu, Dec 15, 2016

IT officials also recovered over Rs 100 crore from 44 suspect accounts in an Axis Bank branch in Chandni Chowk area in Delhi.

Rs 13 lakh crore in old notes deposited in banks post demonetisation, says Govt

Rs 13 lakh crore in old notes deposited in banks post demonetisation, says Govt

Thu, Dec 15, 2016

The government on Thursday informed the Supreme Court that Indian banks have received Rs 13 lakh crore old notes in cash deposits after the demonetisation announcement on November 8.

Petrol exports in November lowest since April, shows Petroleum Ministry data

Petrol exports in November lowest since April, shows Petroleum Ministry data

Thu, Dec 15, 2016

In the month of April, the diesel exports were 20.61 lakh metric tonne.

Wholesalers suffer but impact on inflation yet to be seen

Wholesalers suffer but impact on inflation yet to be seen

Thu, Dec 15, 2016

In the fast moving consumer goods (FMCG) sector, wholesalers have a direct distribution of nearly 42% and have seen a considerable decline in sales after demonetisation of higher currency.

India's demonetisation drive drags down Nepal's economy

India's demonetisation drive drags down Nepal's economy

Thu, Dec 15, 2016

India`s scrapping of high-value bank notes last month has dragged down economic growth in neighbouring Nepal with trade, remittances and tourist numbers all down, BMI Research, a group company of the Fitch rating agency, said on Wednesday.

RBI should give details of notes supply to banks daily basis: Bank staff unions

RBI should give details of notes supply to banks daily basis: Bank staff unions

Wed, Dec 14, 2016

RBI governor Urjit Patel will attend the central board meet.

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