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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`?

Harvard Professor Larry Summers says demonetisation costs exceed benefits

Harvard Professor Larry Summers says demonetisation costs exceed benefits

Tue, Nov 22, 2016

Surprised by the 'dramatic' Indian decision to ban higher currencies in India, Harvard Professor, Lawrence Summers (Larry) and PhD candidate Natasha Sarin said in a blog post on Monday that this was the ‘most sweeping change in currency policy that has occurred anywhere in the world in decades.’

Demonetisation chaos: Urjit Patel should resign, bank union chief demands

Demonetisation chaos: Urjit Patel should resign, bank union chief demands

Mon, Nov 21, 2016

The head of All India Bank Officer’s Confederation, D Thomas Franco, on Monday called for the resignation of Reserve Bank of India (RBI) governor, Urjit Patel, on moral grounds.

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Rate, amount of black money regeneration to define ‘new normal’ of GDP growth

Rate, amount of black money regeneration to define ‘new normal’ of GDP growth

Mon, Nov 21, 2016

Demonetisation of higher denominations in India has led to a short term state of paralysis as in the fight against black money, the purchasing power of the people has also been curtailed.

Everything you need to know about demonetisation in just 2 minutes

Everything you need to know about demonetisation in just 2 minutes

Sat, Nov 19, 2016

Following the government’s announcement on the currency ban of Rs 500 and Rs 1,000 notes, a series of new developments and improvisations were declared.

Demonetisation turns bitter for Bengal's famed sweet shops

Demonetisation turns bitter for Bengal's famed sweet shops

Sat, Nov 19, 2016

Bengal's sweet tooth is set to turn bitter as makers of the popular rosogolla (rasgulla) and sandesh have been left battered by the central government`s decision to ban Rs 500 and Rs 1,000 currency notes in a bid to weed out black money.

Demonetisation: SBI cash deposits cross Rs 1.2 lakh crore in 7 days

Demonetisation: SBI cash deposits cross Rs 1.2 lakh crore in 7 days

Fri, Nov 18, 2016

Cash deposits in State Bank of India reach Rs 1.27 lakh crore Exchange of old note transactions reach Rs 6,477 crore, says SBI SBI says cash withdrawal transactions amount to Rs 23,337 crore

Indian farmers fear lost crops, income after 'black money' move

Indian farmers fear lost crops, income after 'black money' move

Fri, Nov 18, 2016

For Indian farmer Buddha Singh, who works a small plot of land in the village of Bajna south of New Delhi, the government`s decision to abolish 500 and 1,000 rupee bank notes to crush the shadow economy could hardly have come at a worse time.

Now, get Rs 2,000 cash from petrol pumps

Now, get Rs 2,000 cash from petrol pumps

Fri, Nov 18, 2016

With long queues continuing at banks and ATMs, now petrol pumps will also dispense Rs 2,000 cash per person per day, state-run Doordarshan announced in a tweet on Thursday.

Pay IT dues in advance to avoid last minute rush, says RBI

Pay IT dues in advance to avoid last minute rush, says RBI

Thu, Nov 17, 2016

Reserve Bank has asked income tax assessees to pay their dues in advance for December quarter and has designated a total of 29 banks at which the payments can be done.

Demonetisation: Govt reduces withdrawal limit, eases rules for farmers

Demonetisation: Govt reduces withdrawal limit, eases rules for farmers

Thu, Nov 17, 2016

Department of Economic Affairs (DEA)'s Secretary, Shaktikanta Das on Thursday announced new rules pertaining to the demonetisation move by the government. The rules include the following: 1. Exchange of old currencies have been reduced to Rs 2000 from Rs 4500 from November 18.

Facts vs Myth: Govt clarifies your doubts about demonetisation

Facts vs Myth: Govt clarifies your doubts about demonetisation

Thu, Nov 17, 2016

There have been a lot of rumours going around about the demonetisation move of PM Narendra Modi and the government sought to put them to rest with a series of tweets on Wednesday night.

Demonetisation: RBI lays down 6-step procedure for banks to use indelible ink

Demonetisation: RBI lays down 6-step procedure for banks to use indelible ink

Wed, Nov 16, 2016

The Reserve Bank of India (RBI) on Wednesday laid down a standard operating procedure to ensure the smooth transaction of money and application of indelible ink on people’s fingers.

NHAI may compensate concessionaires for loss in toll money

NHAI may compensate concessionaires for loss in toll money

Tue, Nov 15, 2016

With government's decision to stop toll collection till November 18 hitting concessionaires, National Highways Authority of India (NHAI) has proposed to compensate up to 75 % of the losses due to the move resulting from demonetisation.

Paytm records 700% increase in overall traffic, crosses 50 million downloads

Paytm records 700% increase in overall traffic, crosses 50 million downloads

Tue, Nov 15, 2016

Paytm on Monday said its overall traffic has increased by 700% with over 1000% growth in the amount of money added to its account after the government’s demonetisation move.

Demonetisation aftermath: No charges on ATM transactions till December 30

Demonetisation aftermath: No charges on ATM transactions till December 30

Tue, Nov 15, 2016

In yet another move to lessen woes of people facing cash crunch, the RBI directed banks to waive ATM charges on all transactions done by savings bank customers till December 30.

RBI told banks to recaliberate ATMs with Rs 100-notes before demonetisation

RBI told banks to recaliberate ATMs with Rs 100-notes before demonetisation

Mon, Nov 14, 2016

In anticipation of the huge demand for lower currency notes, ahead of the demonetisation move, the Reserve Bank of India (RBI) had asked banks to set up Automated Teller Machines which dispensed only Rs 100 notes.

Currency ban: Modi directs steps to disburse more money in rural India

Currency ban: Modi directs steps to disburse more money in rural India

Mon, Nov 14, 2016

In a bid to ensure that people in rural areas are able to get access to cash, the government has enhanced the currency limits of banking correspondents, allowed them multiple visits to banks and disburse more money through branch post offices.

10 more days to use Rs 500, 1000 notes at Govt hospitals, petrol pumps

10 more days to use Rs 500, 1000 notes at Govt hospitals, petrol pumps

Mon, Nov 14, 2016

Finance Ministry on Sunday late night said that old currencies of Rs 500 and Rs 1,000 denominations will be accepted for another 10 days at government hospitals, petrol pumps and toll booths. Exchange of these notes at specified places was earlier allowed only up till November 11.

Booked railway tickets with old notes: Railways won't give you cash refunds

Booked railway tickets with old notes: Railways won't give you cash refunds

Fri, Nov 11, 2016

Indian Railways on Thursday announced that people will no longer receive cash transfers on cancellation of tickets booked on November 9 and November 11.

Money-changers make merry as people flock to convert black money

Money-changers make merry as people flock to convert black money

Thu, Nov 10, 2016

Where there's a will, there's a way. This adage could not have been more true given how desperately people in metros like New Delhi and Mumbai are reaching out to money-changers and middle-men to convert their ill-gotten wealth into legal tender.

SBI says has sufficient Rs 100 notes in ATMs, branches

SBI says has sufficient Rs 100 notes in ATMs, branches

Wed, Nov 09, 2016

State Bank of India said on Wednesday that its branches will remain open tomorrow with extended hours of work up till 6 pm.

Have been printing new currency for the past few months, FM Jaitley says

Have been printing new currency for the past few months, FM Jaitley says

Wed, Nov 09, 2016

Finance Minister of India Arun Jaitley has said most of illicit money was in Rs 500 and Rs 1000 denominations.

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