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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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: ED arrests two private bank officers for money laundering

Demonetisation: ED arrests two private bank officers for money laundering

Mon, Dec 05, 2016

Two private bank officials were arrested in connection with the laundering of money during the demonetisation drive.

Indian services activity plunges into contraction in November on cash crackdown

Indian services activity plunges into contraction in November on cash crackdown

Mon, Dec 05, 2016

Indian services activity dived into contraction in November after Prime Minister Narendra Modi`s surprise move to withdraw high denomination banknotes led to a sharp decline in demand, a survey showed on Monday.

BigBasket eyes Rs 2,000-crore revenue by end of FY17; expects to become profitable by March 2018

BigBasket eyes Rs 2,000-crore revenue by end of FY17; expects to become profitable by March 2018

Sun, Dec 04, 2016

With people becoming comfortable buying even milk and bread online, e-grocery platform BigBasket on Sunday said it has seen 300% growth in revenue in the past one year and expects to cross the Rs 2,000 crore-milestone by the fiscal-end.

RBI Governor Urjit Patel may cut rate by 0.25% in policy review on December 7

RBI Governor Urjit Patel may cut rate by 0.25% in policy review on December 7

Sun, Dec 04, 2016

Reserve Bank of India (RBI) Governor Urjit Patel is expected to again go in for a 0.25% interest rate cut at its next policy review on December 7, Wednesday, with an aim to cushion the impact of demonetisation, a majority bankers feel.

Demonetisation: Micro-ATMs, POS asked to guard against cyber attacks

Demonetisation: Micro-ATMs, POS asked to guard against cyber attacks

Sun, Dec 04, 2016

With the usage of micro-ATMs and POS counters witnessing a sharp surge post demonetisation, the country's premier cyber security agency CERT-In has cautioned customers, bankers and traders against skimming and malware attacks on these systems and asked them to adopt high-end encryption to plug po

Demonetisation will push India's GDP growth: Piyush Goyal

Demonetisation will push India's GDP growth: Piyush Goyal

Sun, Dec 04, 2016

Notwithstanding economists` prediction that demonetisation would hit the country`s Gross Domestic Product (GDP) growth, Union Minister Piyush Goyal on Saturday said when informal economy goes into the formal mode with the banning of high-value currency, this will add to the GDP.

RBI policy, macro data, global cues to dictate market trend this week

RBI policy, macro data, global cues to dictate market trend this week

Sun, Dec 04, 2016

Outcome of the Reserve Bank of India's (RBI) monetary policy review, macroeconomic data and major global events would set the market tone this week, say experts.

Fintech startups likely to witness rise in hiring post demonetisation

Fintech startups likely to witness rise in hiring post demonetisation

Sun, Dec 04, 2016

Fintech startups are proving to be the biggest beneficiaries of the government's demonetisation move and with the rise in business, recruitment plans of these companies are likely to see significant uptrend in coming months, experts say.

Will find way to let poor retain Jan Dhan deposits: PM Modi

Will find way to let poor retain Jan Dhan deposits: PM Modi

Sun, Dec 04, 2016

Prime Minister Narendra Modi on Saturday said he "will find a way" to jail the rich who had after demonetisation stashed their ill-gotten wealth in Jan Dhan bank accounts of the poor, and let the poor retain their money.

Govt must up public expenditure to push consumption: Assocham

Govt must up public expenditure to push consumption: Assocham

Sun, Dec 04, 2016

Arguing that private consumption will take a "significant hit" at least in the next two quarters following demonetisation, Assocham on Sunday said the government should jack up its public expenditure in 2016-17.

Interest, tax rates to go down post demonetisation: Arjun Ram Meghwal

Interest, tax rates to go down post demonetisation: Arjun Ram Meghwal

Sun, Dec 04, 2016

The rates of interest and tax will soon come down mainly due to the demonetisation drive of the government, Minister of State for Finance Arjun Ram Meghwal said on Saturday. "Interest rates and tax rates will soon decrease (after the demonetisation step)," Meghwal said.

Demonetisation will push GDP growth to 10%: Arjun Ram Meghwal

Demonetisation will push GDP growth to 10%: Arjun Ram Meghwal

Sun, Dec 04, 2016

Demonetisation will lead to a spurt in economic activity, which will in turn push gross domestic product (GDP) growth to 10%, Union minister Arjun Ram Meghwal has said.

Rs 13,860 crore declared in IDS ''not mine'': Mahesh Shah

Rs 13,860 crore declared in IDS ''not mine'': Mahesh Shah

Sat, Dec 03, 2016

Mahesh Shah, a businessman from Gujarat who made a surprising disclosure Rs 13,860 crore in unaccounted wealth under the Income Declaration Scheme (IDS) two months ago, said on Saturday he was used as a front by some businessmen and politicians to declare the money and would name them soon.

PM Narendra Modi says demonetisation will end all problems

PM Narendra Modi says demonetisation will end all problems

Sat, Dec 03, 2016

Prime Minister Narendra Modi on Saturday acknowledged the inconvenience caused to people by demonetisation and said it was a move that would end all the problems, including poverty, corruption and black money in India.

Food Tech, Hyperlocal Grocery witness significant growth in online payments in Nov: RedSeer

Food Tech, Hyperlocal Grocery witness significant growth in online payments in Nov: RedSeer

Sat, Dec 03, 2016

After the Government of India demonetised old banknotes of Rs 500 and Rs 1,000, Food Tech and Hyperlocal Grocery sectors have witnessed a significant growth in their online transactions in November on account of their dependency on cashless transactions, said a Bengaluru-based research and adviso

FM Arun Jaitley knew about demonetisation in advance: Piyush Goyal

FM Arun Jaitley knew about demonetisation in advance: Piyush Goyal

Sat, Dec 03, 2016

Dispelling rumours that Finance Minister Arun Jaitley was unaware of demonetisation, Power Minister Piyush Goyal on Saturday said he knew it and kept it as secret despite being "very friendly and open".

RuPay card usage jumps nearly 119% in first week of demonetisation

RuPay card usage jumps nearly 119% in first week of demonetisation

Sat, Dec 03, 2016

RuPay card usage jumped by over 118.6% in the week following demonetisation that took effect from November 8 mid-night while the overall debit and credit card transactions recorded an increase of 70.5%.

Rs 2.5 lakh crore won't come back into banking system: SBI

Rs 2.5 lakh crore won't come back into banking system: SBI

Sat, Dec 03, 2016

State Bank of India (SBI) has estimated that money worth Rs 2.5 lakh crore may not come back into the banking system post demonetisation of high-value notes. On November 8, the government banned old banknotes of Rs 500 and Rs 1,000 worth over Rs 14 lakh crore from the economy.

RBI to announce monetary policy decision on December 7

RBI to announce monetary policy decision on December 7

Sat, Dec 03, 2016

The Reserve Bank of India (RBI) will come out with monetary policy review, the first after demonetisation of old Rs 500 and Rs 1,000 notes, on Wednesday amid expectations of interest rate cut.

RBI may hike interest rate by 50 bps on December 7: HDFC's Keki Mistry

RBI may hike interest rate by 50 bps on December 7: HDFC's Keki Mistry

Sat, Dec 03, 2016

At a time when the country is undergoing a demonetisation drive, the Reserve Bank of India (RBI), in its next policy meeting on December 7, may increase the main interest rate by 50 basis points (bps), feels Keki Mistry, Vice Chairman and CEO of HDFC.

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