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Demonetisation aftermath

RBI's own figures indicate return of 15 lakh crore of banned notes

RBI's own figures indicate return of 15 lakh crore of banned notes

Sat, Jan 14, 2017

More worryingly, this figure has been arrived at on the assumption that no new notes were issued after December 19 -- a near impossibility. This could well open up the intriguing possibility that more banned notes may have returned than were said to be in circulation.

MUDRA loan disbursals take a hit due to demonetisation

MUDRA loan disbursals take a hit due to demonetisation

Sat, Jan 07, 2017

"We have disbursed Rs 80,000 crore (from April 1 to December 31, 2016). There have been some lull during the last two months because of currency exchanges and those kind of things," Jiji Mammen, CEO of MUDRA, said.

Court seeks police report on Axis Bank's branch manager plea to surrender

Court seeks police report on Axis Bank's branch manager plea to surrender

Sat, Jan 07, 2017

32-year-old Vineet Gupta, suspended branch manager in Axis Bank's Kashmere Gate branch here, pleaded the court to issue his production warrant for his appearance before it from jail, saying that he wanted to surrender in the cheating case lodged by Delhi Police to show his "bonafide".

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7.1% GDP estimate erroneous, says Icra

7.1% GDP estimate erroneous, says Icra

Sat, Jan 07, 2017

"Given the impact of demonetisation on actual activity from mid-November 2016 onward, projecting GDP growth for the full year by extrapolating the trends up to October 2016 for several sectors, may introduce more errors than in earlier years. This would be particularly apt for cash intensive sectors such as construction," Icra said in a statement.

Nepal to get Rs 1 billion in 100 rupee notes from India

Nepal to get Rs 1 billion in 100 rupee notes from India

Sat, Jan 07, 2017

The NRB`s plan to import Rs 100 denomination notes was delayed due to the Indian government`s move to demonetise Rs 500 and Rs 1,000 currency notes on November 8, reports said, adding the RBI had earlier told the Nepali counterpart to wait till the situation normalises.

Note-ban impact: SBI Research pegs FY17 GDP down to 6.7%

Note-ban impact: SBI Research pegs FY17 GDP down to 6.7%

Sat, Jan 07, 2017

"Our assessment of a 6.7 per cent GDP growth (in FY17) with a downward bias is based on the premise that the liquidity shock has led to a drastic consumer spending shock," an SBI Research's Ecowrap report said.

Demonetisation aftermath: Almost 41% MSMEs saw rise in cheque and e-payment

Demonetisation aftermath: Almost 41% MSMEs saw rise in cheque and e-payment

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.”

POS machines likely to outshine ATMs as India hurries towards less-cash

POS machines likely to outshine ATMs as India hurries towards less-cash

Tue, Dec 20, 2016

M B Mahesh, Nischint Chawathe and Abhijeet Sakhare of Kotak Institutional Equities said, “With 0.2 million ATMs and 1.4 million POS machines, Indian banks are getting an unexpected benefit coming through demonetisation as the bulk of 0.6 billion debit cards and 0.02 million credit card holders have started to look seriously at newer channels of payment.”

RBI's senior official arrested for illegal exchange of new currency

RBI's senior official arrested for illegal exchange of new currency

Tue, Dec 13, 2016

A PTI report revealed that one of the senior offical named K Micheal of the Reserve Bank of India was also involved in the seizure of Rs 5.70 crore in new currency.

Nearly Rs 1.5 crore of new currencies seized in Assam

Nearly Rs 1.5 crore of new currencies seized in Assam

Tue, Dec 13, 2016

"We received a tip off that huge amount of black money was hidden in Bedi`s house. We raided his house at Beltola area," he said adding that they seized Rs 1,54,61,000.

Demonetisation aftermath: Jan Dhan accounts being used to convert black money

Demonetisation aftermath: Jan Dhan accounts being used to convert black money

Sat, Nov 12, 2016

More than 25 crore accounts created under the Jan Dhan scheme for below the poverty line families are being used to convert black money.

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