Thu, Jan 05, 2017
Ashu Suyash, Managing Director & CEO, CRISIL, said,"MSMEs located in Tier 2 cities and smaller towns have witnessed a significant shift (42% of respondents) to cheque or electronic payments, indicating that the transition is geography agnostic, and, therefore, has greater implications in the way transactions take place in small cities and towns.”
More >
Thu, Dec 22, 2016
Prime Minister Narendra Modi shocked the country on Nov. 8 by abolishing 500 and 1,000 rupee notes, which accounted for 86% of the cash in circulation. The move was aimed at cracking down on the shadow economy, but has brought India`s cash economy to a virtual standstill.
Wed, Dec 21, 2016
In this period, the Reserve Bank has issued to the banks and their branches, for distribution to the public, a total of 22.6 billion pieces of notes of various denominations of which 20.4 billion pieces belonged to small denominations of ₹ 10, 20, 50 and 100s and 2.2 billion belonged to higher denominations of ₹ 2000 and ₹ 500.
He said, "It has been decided to substitute section 6 of the Act so as to enable the employer to pay the wage to the employed person also by cheque or crediting it to their bank account."
Tue, Dec 20, 2016
The cost of going digital for small businesses, SMEs and MSMEs are borderline prohibitive. This is the reason why even as the Government is giving incentives for businesses to go digital, some small players are skeptical.
After demonetisation, Government of India is currently mooting several proposals to push the country towards being less-cash. Apart from giving discounts on using debit or credit cards, there is a possibility that using cash may be taxed, Aseem Manchanda reports.
By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
