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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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Wholesalers suffer but impact on inflation yet to be seen

Wholesalers suffer but impact on inflation yet to be seen

Thu, Dec 15, 2016

In the fast moving consumer goods (FMCG) sector, wholesalers have a direct distribution of nearly 42% and have seen a considerable decline in sales after demonetisation of higher currency.

Consumers' choice to minimise discretionary purchases pulls down inflation

Consumers' choice to minimise discretionary purchases pulls down inflation

Wed, Dec 14, 2016

Consumers are choosing to minimise discretionary spends after PM Modi's demonetisation move and that is what brought down inflation rates in November.

Yes Bank partners with Grofers to get cash delivered at home

Yes Bank partners with Grofers to get cash delivered at home

Tue, Dec 13, 2016

E-commerce food delivery website announced its partnership with Yes Bank on Tuesday to start a home delivery service for cash.

Stand in line at ATMs get a laddoo from BJP govt

Stand in line at ATMs get a laddoo from BJP govt

Tue, Dec 13, 2016

One laddoo per family to ‘thank’ the people for their ‘patience,’ is what the the Delhi Bharatiya Janata Party troops will get cracking on to refresh Indian palates with a sweet taste after the bitter cash crunch swept pockets dry.

Fruit, veggie vendors may shut shop as cash crunch continues

Fruit, veggie vendors may shut shop as cash crunch continues

Tue, Dec 13, 2016

Local fruit and vegetable vendors are planning on shutting shop on account of the cash crunch that is prevailing due to the withdrawal of higher denomination currencies.

ED arrests 7 middlemen; seizes Rs 93 lakh new notes in Karnataka

ED arrests 7 middlemen; seizes Rs 93 lakh new notes in Karnataka

Tue, Dec 13, 2016

Unearthing a racket involved in illegal conversion of demonetised notes, the ED has arrested seven alleged middlemen and seized Rs 93 lakh in new currency in Karnataka as part of its money laundering probe.

Support for demonetisation declining among citizens: Survey

Support for demonetisation declining among citizens: Survey

Mon, Dec 12, 2016

36% of respondents rated the scheme as being poorly implemented against only 25% 3 weeks ago.

Bank unions AIBEA, AIBOA write to RBI Governor Urjit Patel over cash shortage

Bank unions AIBEA, AIBOA write to RBI Governor Urjit Patel over cash shortage

Sat, Dec 10, 2016

Two bank unions on Friday urged Reserve Bank of India (RBI) Governor Urjit Patel to ensure adequate supply of the new Rs 500 notes and bills of lower denominations to tide over the prevailing cash crunch.

India's demonetisation drive hitting budget preparations

India's demonetisation drive hitting budget preparations

Fri, Dec 09, 2016

PM Modi's decision to demonetise higher denominations to curb black money may now disrupt 2017 budget preparations.

Tractor sales to grow by 17% in FY17 if demand normalises

Tractor sales to grow by 17% in FY17 if demand normalises

Mon, Dec 05, 2016

Tractor sales are expected to take a hit in the short-term period due to demonetisation impacting farmers' seeds and fertiliser purchases.

Yes Bank partners with Ola to set up mobile ATMs in 10 cities

Yes Bank partners with Ola to set up mobile ATMs in 10 cities

Mon, Dec 05, 2016

On account of the cash crunch prevailing in India after PM Modi's decision to demonetise higher currency notes, Yes Bank announced on Monday a partnership with Ola cabs to set up mobile ATMs in 10 cities.

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.

Cash crunch to ease by December 30; no GST delay: Arun Jaitley

Cash crunch to ease by December 30; no GST delay: Arun Jaitley

Sat, Dec 03, 2016

Indian Finance Minister Arun Jaitley said on Friday that a cash crunch following the scrapping of high-value banknotes would ease by December 30 with the release of new Rs 500 and Rs 2,000 notes.

Government wants Aadhaar-enabled payment to replace debit, credit cards

Government wants Aadhaar-enabled payment to replace debit, credit cards

Fri, Dec 02, 2016

The Unique Identification Authority of India has planned to increase biometric authentication capacity through Aadhaar to 40 crore a day from 10 crore to encourage more use of the platform for realising a cashless society.

Almost 90% ATMs re-caliberated but cash crunch still prevails

Almost 90% ATMs re-caliberated but cash crunch still prevails

Thu, Dec 01, 2016

Nearly 90 % of the 2 lakh ATMs deployed across the country have been re-calibrated to dispense the new 500 and 2,000 rupee notes, says a key maker of the machines even as millions of people continue to face acute cash shortages in the aftermath of demonetisation last month.

MobiKwik Lite crosses 20 lakh downloads in just 2 days as cash crunch prevails

MobiKwik Lite crosses 20 lakh downloads in just 2 days as cash crunch prevails

Thu, Dec 01, 2016

Mobile wallet and online payment system, MobiKwik’s mobile app – MobiKwik Lite registered 20 lakh downloads in the first two days after its launch owing to demonetisation and the current cash crunch.

Demonetisation: Reliance Jio may extend 'Welcome Offer' beyond December

Demonetisation: Reliance Jio may extend 'Welcome Offer' beyond December

Wed, Nov 30, 2016

The extension of the Welcome Offer by Reliance Jio is expected to impact on its Q4 results.

Demonetisation: India cash ban slims down big fat weddings

Demonetisation: India cash ban slims down big fat weddings

Wed, Nov 30, 2016

Jatin Pal`s wedding was just days away and his family were finalising plans for an extravagant multi-day celebration -- then Indian Prime Minister Narendra Modi banned high denomination notes overnight, casting a dark shadow over the festivities.

RBI relaxes withdrawal norms, nudges retailers to deposit cash

RBI relaxes withdrawal norms, nudges retailers to deposit cash

Wed, Nov 30, 2016

Nudging retailers such as malls and shop owners to deposit their daily collections with banks, Reserve Bank of India (RBI) has said they would be allowed to withdraw the deposited sum in Rs 2,000 and Rs 500 notes, irrespective of the existing withdrawal limits.

Chilled by demonetisation, India to take cold comfort from strong GDP

Chilled by demonetisation, India to take cold comfort from strong GDP

Wed, Nov 30, 2016

India can ill-afford to take much pride in having the world`s fastest growing large economy when it releases September quarter data on Wednesday, with businesses, farmers and families all suffering after the government`s sudden demonetisation drive.

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