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Currency Ban

Parliamentary committee to question RBI governor on cash crunch

Parliamentary committee to question RBI governor on cash crunch

Sun, Jan 08, 2017

A parliamentary committee, probing the government`s decision to scrap high-value bank notes, has sent the country`s central bank governor a list of questions on the demonetisation process and asked him to appear before it on Jan. 20.

Tax dept to rope in auditors to probe bank deposits

Tax dept to rope in auditors to probe bank deposits

Sun, Jan 08, 2017

With an estimated Rs 15 lakh crore back in the banking system post demonetisation, the income tax department is in talks with leading global tax consultants, including EY, KPMG and PricewaterhouseCoopers, for forensic audit of the data to see if any of it is laundered money.

IT department asks banks to report cash deposits in accounts from April-November

IT department asks banks to report cash deposits in accounts from April-November

Sun, Jan 08, 2017

The Income Tax department on Sunday asked banks to report on cash deposits in accounts from the period April 1 to November 9, 2016, Times Now tweeted.

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Must Read: Article on demonetisation by Finance Minister Arun Jaitley

Must Read: Article on demonetisation by Finance Minister Arun Jaitley

Sun, Jan 08, 2017

Sunday morning, Finance Minister, Arun Jaitley penned his thoughts on the demonetisation move by the Modi-led government.

Demonetisation effect: Average e-wallet spends to touch Rs 10,000 next year

Demonetisation effect: Average e-wallet spends to touch Rs 10,000 next year

Fri, Dec 30, 2016

Post-demonetisation, e-wallet or mobile-wallets (m-wallet) started gaining momentum due to the severe cash crunch on account of 86% of currency being made illegal overnight.

Average balance in a Paytm account since demonetisation? Rs 59

Average balance in a Paytm account since demonetisation? Rs 59

Thu, Dec 29, 2016

Average balance in a Paytm wallet since demonetisation drive that began on November 8, 2016 has been around Rs 59.

Year of exits at RBI: First Rajan, then old notes!

Year of exits at RBI: First Rajan, then old notes!

Wed, Dec 28, 2016

First, it was outspoken Raghuram Rajan and then old Rs 500/1,000 notes, including those bearing his signature -- 2016 saw them exit the Mint Street riding such big waves of controversies that their ripple effect is bound to be felt in the new year.

Demonetisation: Approval rate remains high as 50-day window nears end

Demonetisation: Approval rate remains high as 50-day window nears end

Fri, Dec 23, 2016

People affected by the currency ban have continued to give PM Modi a big thumbs up for his decision to demonetise higher denominations on November 8.

Here are 4 ways to get cash without standing in ATM, bank queues

Here are 4 ways to get cash without standing in ATM, bank queues

Fri, Dec 23, 2016

With the existing cash crunch after demonetisation blues hit Indian markets, retailers and e-commerce platforms found a way around the mess.

Employment edges higher in FY16, but demonetisation may slow it down

Employment edges higher in FY16, but demonetisation may slow it down

Fri, Dec 23, 2016

Aggregate employment for the 2,112 sample companies increased from 5.63 million in FY15 to 5.72 million in FY16 resulting in growth of 1.6%. However, with demonetisation next year' s employment level could slow down considerably.

BMW to have petrol options for all cars; rolls out new model

BMW to have petrol options for all cars; rolls out new model

Thu, Dec 15, 2016

The third largest luxury carmaker BMW India, which today launched the fourth model from its Mini stable here, hopes to have petrol variants for all its nearly a dozen models by next year.

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.

India's demonetisation drive drags down Nepal's economy

India's demonetisation drive drags down Nepal's economy

Thu, Dec 15, 2016

India`s scrapping of high-value bank notes last month has dragged down economic growth in neighbouring Nepal with trade, remittances and tourist numbers all down, BMI Research, a group company of the Fitch rating agency, said on Wednesday.

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.

India's fuel demand rose 12% year-on-year in November

India's fuel demand rose 12% year-on-year in November

Tue, Dec 13, 2016

India`s fuel demand rose 12.1 % in November compared with the same month last year. Consumption of fuel, a proxy for oil demand, totalled 16.64 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.

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.

Venezuela's Maduro orders 100-unit banknotes out of circulation

Venezuela's Maduro orders 100-unit banknotes out of circulation

Mon, Dec 12, 2016

Venezuelan President Nicolas Maduro on Sunday signed an emergency decree ordering the country`s largest banknote, the 100 bolivar bill, taken out of circulation to thwart "mafias" he accused of hoarding cash in Colombia.

Is Modi's demonetisation killing Modi's Make in India programme?

Is Modi's demonetisation killing Modi's Make in India programme?

Mon, Dec 12, 2016

Self-advocated PM Narendra Modi's 'Make in India' campaign maybe endangered with his latest move to demonetise higher currency as manufacturers' future investment plans are now looking bleak.

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.

India inflation likely cooled further in November after cash clampdown: Reuters poll

India inflation likely cooled further in November after cash clampdown: Reuters poll

Fri, Dec 09, 2016

Despite the turmoil following the cash clampdown, India`s central bank surprised markets by eschewing a rate cut and leaving its key policy rate unchanged at 6.25 % this week, choosing to wait for more information before judging the full effects of the demonetization.

Historic opportunity to embrace increased cashless payments, PM Modi tweets

Historic opportunity to embrace increased cashless payments, PM Modi tweets

Thu, Dec 08, 2016

PM Narendra Modi on Thursday posted a host of tweets on Twitter speaking about his move to demonetise higher denominations.

15 tonnes of gold worth Rs 5,000 crore sold in 6 hours on November 8

15 tonnes of gold worth Rs 5,000 crore sold in 6 hours on November 8

Thu, Dec 08, 2016

The night that PM Narendra Modi announced the withdrawal of higher denominations was the night that saw nearly one-fifth of monthly gold sales that reached 15 tonnes.

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