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cash crunch

Beware! Your bank ATM will shut down soon! Know when, why and how

Beware! Your bank ATM will shut down soon! Know when, why and how

Wed, Nov 21, 2018

Currently, the country has approximately 2,38,000 installed ATMs, as per the latest publicly available figures.

Exclusive! On ATM cash crisis, 2600 entities under scanner; govt targets those responsible

Exclusive! On ATM cash crisis, 2600 entities under scanner; govt targets those responsible

Fri, Apr 20, 2018

ATM cash crunch: The FIU has upgraded its FINEX server in recent past, which will help it by sending alerts related to real-time transactions as well as suspicious transactions. In addition, the Income Tax department, which is in action has been raiding and surveying at several states that are suffering from the cash crisis.

Beat cash crunch at ATMs Rs 2,000 at a time: Here is how

Beat cash crunch at ATMs Rs 2,000 at a time: Here is how

Fri, Apr 20, 2018

To ease the cash crunch at ATMs that has caused pain to the public in some parts of the nation, SBI has launched a new initiative that allows people in smaller towns to withdraw cash through this rarely used method. Check it out:

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Note ban has caused Rs 20,000-50,000 per acre loss to farmers

Note ban has caused Rs 20,000-50,000 per acre loss to farmers

Sun, Jan 22, 2017

India`s cash-driven agri sector continues to reel under the effects of demonetisation, with farmers growing fruits and vegetables suffering "huge losses," say farm leaders who want the Union budget to "compensate" them for these losses.

Toyota sees flat sales in India this year on note ban blues

Toyota sees flat sales in India this year on note ban blues

Sun, Jan 22, 2017

Japanese carmaker Toyota is expecting its vehicle sales in India to remain flat during the current year mainly on account of uncertainty in the market post demonetisation.

Over 3 lakh consumers & 20,000 merchants receive prizes worth nearly Rs 61 crore in govt's digital payment schemes

Over 3 lakh consumers & 20,000 merchants receive prizes worth nearly Rs 61 crore in govt's digital payment schemes

Thu, Jan 19, 2017

Over 3 lakh consumers and more than 20,000 merchants have received prizes worth nearly Rs 61 crore at the government's recently started digital payments scheme titled 'Digi-Dhan Melas'.

RBI may go for 25 basis points rate cut on February 8, in April: BofA-ML

RBI may go for 25 basis points rate cut on February 8, in April: BofA-ML

Wed, Jan 18, 2017

The Reserve Bank of India (RBI) is expected to go in for a 25 basis points (bps) rate cut at its next monetary policy meet on February 8 -- as also in April -- says a Bank of America Merrill Lynch (BofA-ML) report.

India's cash crunch seen biting into economic growth- Reuters poll

India's cash crunch seen biting into economic growth- Reuters poll

Wed, Jan 18, 2017

Inflation hit a two-year low in December, with consumer prices rising 3.41%, well below the RBI`s near-term target of 5% by March 2017.

Note ban to benefit jewellery sector in long run: Industry

Note ban to benefit jewellery sector in long run: Industry

Tue, Jan 17, 2017

The jewellery industry, which suffered and saw about 80% drop in demand following the demonetisation, is slowly recovering, although it may take over a year for things to become normal, market experts said.

Over 50% people switched to online grocery shopping after demonetisation: Survey

Over 50% people switched to online grocery shopping after demonetisation: Survey

Mon, Jan 16, 2017

A major reason for people to order grocery products online was the cash free transactions.

India's current account deficit likely to be 1.3% of GDP in 2017: Nomura

India's current account deficit likely to be 1.3% of GDP in 2017: Nomura

Mon, Jan 16, 2017

India's current account deficit (CAD) is expected to be around 1.3% of GDP in 2017 as against a deficit of 0.8% in 2016, says a report.

Realty hit hard by demonetisation, awaits 'white money' buyers

Realty hit hard by demonetisation, awaits 'white money' buyers

Sun, Jan 15, 2017

Property market, long considered a black money safe haven, seems to have taken a big hit from demonetisation, with developers seeing their sales drop by about 50 % in the last three months and now pinning their hopes on buyers coming to market with 'white money'.

Demonetisation fallout: ATM makers get a big boost in new orders

Demonetisation fallout: ATM makers get a big boost in new orders

Sun, Jan 15, 2017

The government`s November 8move last year to demonetise higher-denomination currencies was said to be aimed at tackling the issues of black money and counterfeit notes.

Government fully respects independence and autonomy of RBI: Finance Ministry

Government fully respects independence and autonomy of RBI: Finance Ministry

Sat, Jan 14, 2017

It said in a release, "There has been a report in sections of the Press that some unions have alleged infringement of the autonomy of the Reserve Bank of India. It is categorically stated that the Government fully respects the independence and autonomy of the Reserve Bank of India."

RBI employees urge governor to protect autonomy

RBI employees urge governor to protect autonomy

Sat, Jan 14, 2017

The RBI`s employee union in a letter to the governor dated January 13 said it was "painful" the central bank was being criticised despite its staff successfully carrying out the "humongous task" of replacing the old bills.

Post demonetisation organised retail sector likely to post low single digit growth in Q3 FY17: India Ratings

Post demonetisation organised retail sector likely to post low single digit growth in Q3 FY17: India Ratings

Fri, Jan 13, 2017

Post demonetisation organised retail sector is expected to post low single digit growth with varying impact across different sub-sectors in the October-December quarter of fiscal year 2016-17 (FY17), said India Ratings and Research (Ind-Ra) in its latest report on Friday.

RBI may cut repo rate by 25 basis points in February: HSBC report

RBI may cut repo rate by 25 basis points in February: HSBC report

Fri, Jan 13, 2017

With uncertanity over implementation of GST, rising crude oil prices and the challenging 4% CPI in medium term, Reserve Bank of India (RBI) may cut repo rate for the final time by a 25 basis points (bps) in the February policy, says a report.

Shut down SBI branches till cash flow improves, says trade union

Shut down SBI branches till cash flow improves, says trade union

Thu, Jan 12, 2017

"We have suggested to the SBI management to down the branch shutters till the supply of cash gets normalised. It is better to close down the branches for some time than the staff face the ire of the public for no fault of theirs," D. Thomas Franco Rajendra Dev, Senior Vice President of the All India Bank Officers Confederation (AIBOC), told IANS.

India to see lower GDP growth for two quarters on cash crunch: HSBC

India to see lower GDP growth for two quarters on cash crunch: HSBC

Thu, Jan 12, 2017

India's GDP growth numbers are expected to see a decline of 2% in the third and fourth quarters of the current fiscal, as effective currency in circulation has contracted significantly, says an HSBC report.

Demonetisation or not, new notes were needed anyway: RBI

Demonetisation or not, new notes were needed anyway: RBI

Wed, Jan 11, 2017

The Government of India's recent demonetisation decision, which grabbed news headlines across media resulting in cash crunch and chaos across the country last year, was in the making since 2014.

About 66% Indians support PM Narendra Modi's demonetisation move: Survey

About 66% Indians support PM Narendra Modi's demonetisation move: Survey

Wed, Jan 11, 2017

About 66% of Indians surveyed online showed support to prime minister Narendra Modi's demonetisation decision to curb black money, corruption and terrorism into the country, according to Nihilent Analytics.

'Used car sales dip 42% in November post notes ban, recover in December'

'Used car sales dip 42% in November post notes ban, recover in December'

Tue, Jan 10, 2017

Demonetisation led to over 42% drop in used car sales volumes in November as customers postponed purchases but the organised segment of the trade stands to gain in the long-term from the junking of old Rs 500 and Rs 1,000 banknotes, according to a study.

Demonetisation: Residential property sales in Mumbai region fall over 50%

Demonetisation: Residential property sales in Mumbai region fall over 50%

Tue, Jan 10, 2017

Residential and office segment of Mumbai Metropolitan Region (MMR) have recorded worst fall in the second half (H2) of 2016 on the back of the government's demonetisation drive and other economic events resulting in fall in sales volume and new launches in the fourth quarter (Q4) of last year, sa

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