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.
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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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.
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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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.
Fri, Dec 09, 2016
Mahindra which saw a 33% decline in November was one of the worst hit due to demonetisation and as a result has decided to halt production on certain days during December.
There has been a surge in funding seen in fintech start-ups in Q3 however the funding during the year falls short the levels of 2015.
Despite the turmoil following the cash clampdown, India`s central bank surprised markets by eschewing a rate cut and leaving its key policy rate unchanged at 6.25 % this week, choosing to wait for more information before judging the full effects of the demonetization.
Prime Minister Narendra Modi handpicked a trusted bureaucrat, little known outside India`s financial circles, to spearhead a radical move to abolish 86 % of the country`s cash overnight and take aim at the huge shadow economy.
RBI today said that currency notes worth over Rs 4.27 lakh crore have been issued to public through banks and ATMs following the demonetisation of old high value bills.
Thu, Dec 08, 2016
94% of the respondents believe the private sector should be covered under the amendments proposed in the Prevention of Corruption Act.
Key Highlights:
"The RBI is testing our patience," C.H.Venkatachalam added.
The Government is now considering waiving off service tax on debit and credit card transactions up to Rs 2000.
PM Narendra Modi on Thursday posted a host of tweets on Twitter speaking about his move to demonetise higher denominations.
Goenka says that there has been a sudden interest for bitcoins ever since demonetisation. He explains how the digital asset can be used by investors.
He mentioned that it will take few months to recover from this event.
The night that PM Narendra Modi announced the withdrawal of higher denominations was the night that saw nearly one-fifth of monthly gold sales that reached 15 tonnes.
Wed, Dec 07, 2016
The Ministry also said that the Income Tax Department has identified the local clusters and bank branches where the inflow of Jan Dhan deposits have been more than normal.
The extension of Reliance Jio's welcome offer and demonetisation has hit the telecom industry which has already reeling from the mounting debts.
People have resorted to PM Modi’s much advocated ‘cashless’ transactions wherein high amount of payments are being made via credit or debit cards but this is slowing recovery of sales in other segments.
The RBI in its bi-montly policy review said that industrial production will remain disrupted till December due to the impact of demonetisation.
Inflation may come down marginally due to the withdrawal of higher denominations in November.
The Central Bureau of Investigation (CBI) has registered case against senior branch manager and other unknown officials of Central Bank of India and two directors of private firm in Bengaluru on Tuesday in an alleged notes violation norms of RBI.
While the Reserve Bank of India (RBI) on Wednesday did not change the existing Repo and reverse repro rate, Urjit Patel, RBI governor said that Rs 11.85 lakh crore has come back into the system.
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