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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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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Every person has a right to spend his or her money: PM Modi

Every person has a right to spend his or her money: PM Modi

Fri, Nov 25, 2016

Prime Minister Narendra Modi while speaking at a programme in the run up to the Constitution Day said on Friday that those accusing government of not being prepared for demonetisation were themselves not ready for the move, PTI reported.

Unaccounted deposits post demonetisation to attract 60% tax

Unaccounted deposits post demonetisation to attract 60% tax

Fri, Nov 25, 2016

The Cabinet on Thursday discussed amending laws to levy close to 60% income tax on unaccounted deposits in banks above a threshold post demonetisation of high-denomination currency notes.

Use of old Rs 500 notes for mobile top ups to help users: COAI

Use of old Rs 500 notes for mobile top ups to help users: COAI

Fri, Nov 25, 2016

Cellular operators association of India (COAI) on Thursday said government's decision to allow old Rs 500 notes to be used for pre-paid mobile recharges will address difficulties being faced by consumers, and allow them to continue using mobile services without disruption.

Cash shortage to continue for 4 to 5 months: BEFI

Cash shortage to continue for 4 to 5 months: BEFI

Fri, Nov 25, 2016

The Bank Employees Federation of India (BEFI) on Thursday said currency note shortage will continue for another four to five months even if the country's all four currency press facilities work at optimum capacity.

Exchange of old notes over the counter ends today

Exchange of old notes over the counter ends today

Thu, Nov 24, 2016

As per the Ministry, the suspension decision was taken after considering decline in trend.

Demonetisation: MobiKwik launches virtual card system for payments to retailers

Demonetisation: MobiKwik launches virtual card system for payments to retailers

Thu, Nov 24, 2016

The card system is similar to credit and debit cards and will work on all online platforms and POS machines.

FM Jaitley asks banks to promote digital banking in 'mission mode'

FM Jaitley asks banks to promote digital banking in 'mission mode'

Thu, Nov 24, 2016

Finance Minister said there are 14 lakh POS machines which are there at retail level and this figure has to be expanded manifold.

Demonetisation: Ratan Tata calls for govt to implement special relief measures for poor

Demonetisation: Ratan Tata calls for govt to implement special relief measures for poor

Thu, Nov 24, 2016

Ratan Tata call for implementation of special relief measures for the poorer segments similar to that when national calamities have hit, especially for medical treatment.

Unemployment rate drops post demonetisation announcement, shows BSE survey

Unemployment rate drops post demonetisation announcement, shows BSE survey

Thu, Nov 24, 2016

During the week of announcement, the consumer sentiments rose nearly to 98.8, the data showed.

Demonetisation: Govt further extends suspension of toll collection till Dec 2

Demonetisation: Govt further extends suspension of toll collection till Dec 2

Thu, Nov 24, 2016

As per earlier announcement, today was the last day of the suspension of the fee collection.

Notes ban to significantly disrupt economic activity: Moody's

Notes ban to significantly disrupt economic activity: Moody's

Thu, Nov 24, 2016

Demonetisation will "significantly disrupt economic activity" and lead to weaker growth in near-term, though in the long run it can boost tax revenues and translate into faster fiscal consolidation, Moody's Investors Service said on Thursday.

Govt needs to be vigilant about sources of black economy: SBI Research

Govt needs to be vigilant about sources of black economy: SBI Research

Thu, Nov 24, 2016

The current size of digital banking is around Rs 1.2 lakh crore and this has to reach at least Rs 3 lakh crore.

Demonetisation: Jugaad start-ups find a convenient solution to long queues at ATMs

Demonetisation: Jugaad start-ups find a convenient solution to long queues at ATMs

Thu, Nov 24, 2016

These innovative start-ups have emerged during the demonetisation process to ease the troubles of people facing the cash crunch.

State Bank of India launches 'SBI Pay' app

State Bank of India launches 'SBI Pay' app

Thu, Nov 24, 2016

With an aim to support the government's ongoing move to shift Indians to cashless payments system, State Bank of India (SBI) launched an 'SBI Pay' app on Wednesday.

Demonetisation: Modi's move put India's GDP at stake

Demonetisation: Modi's move put India's GDP at stake

Thu, Nov 24, 2016

India's economic growth is expected to fall by up to 1% points over the next 12 months in the wake of demonetisation, says HSBC.

Demonetisation could hurt India's GDP by 200 basis points, says Manmohan Singh

Demonetisation could hurt India's GDP by 200 basis points, says Manmohan Singh

Thu, Nov 24, 2016

Those who say demonetisation is good in the long run should recall quote "In the long run we are all dead", Singh said.

Only 16 of every 250 fake notes detected in India

Only 16 of every 250 fake notes detected in India

Thu, Nov 24, 2016

Is India doing enough to detect fake notes, cited by the Prime Minister Narendra Modi as a significant reason for withdrawing 86 % of India`s currency, a process popularly known as `demonetisation`?

Demonetisation: SBI cuts bulk deposit rates by up to 1.9%

Demonetisation: SBI cuts bulk deposit rates by up to 1.9%

Thu, Nov 24, 2016

Days after Prime Minister Narendra Modi signalled that rates are on the way down, State Bank of India (SBI) on Wednesday slashed bulk deposit rates by up to 1.9% taking advantage of the surge in deposits following demonetisation.

Telangana to suffer Rs 3,000 crore loss due to demonetisation

Telangana to suffer Rs 3,000 crore loss due to demonetisation

Wed, Nov 23, 2016

The government on Wednesday told a central team visiting the state to study the impact of demonetisation that the state may suffer a revenue loss of Rs 540 crore every month.

Truck sales growth to slowdown, ICRA believes

Truck sales growth to slowdown, ICRA believes

Wed, Nov 23, 2016

The impact of tight liquidity is likely to cripple the road logistics sector in the near-term and would prompt the transport community to put their vehicle replacement or addition plans on the back burner, added the report.

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