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Demonetisation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Mon, Jun 03, 2024

97.82 per cent of the total value of the high-value Rs 2,000 banknotes are back in the banking system by the end of May 2024.

2,000-rupee note: A barrage of memes on social media as RBI presses 'exit' on 2,000 currency bill

2,000-rupee note: A barrage of memes on social media as RBI presses 'exit' on 2,000 currency bill

Sat, May 20, 2023

Rs 2,000 withdrawal from circulation: The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.

Bye bye, Rs 2,000 banknote! 10 things to know about the bill that has been in circulation for 6 years

Bye bye, Rs 2,000 banknote! 10 things to know about the bill that has been in circulation for 6 years

Fri, May 19, 2023

BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation. But worry not! The 2,000 note will remain legal tender. You will get a chance to deposit the Rs 2,000 note at the bank, or exchange it up to 10 (Rs 20,000) at a time.

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IT dept launches 'Op Clean Money'-II; to probe 60,000 people

IT dept launches 'Op Clean Money'-II; to probe 60,000 people

Fri, Apr 14, 2017

The Income Tax department will investigate over 60,000 individuals under the second phase of the 'Operation Clean Money' which was launched today with an aim to detect black money generation post demonetisation.

Axis Bank clarifies on CBI's searches in Ahmedabad branch

Axis Bank clarifies on CBI's searches in Ahmedabad branch

Tue, Apr 11, 2017

Axis Bank on Tuesday clarified that the bank has "zero tolerance" towards any devious procedures and is fully co-operating with the Central Bureau of Investigation (CBI) during investigations at Ahmedabad Axis Bank branch.

While currency in circulation improved, ATMs still run dry

While currency in circulation improved, ATMs still run dry

Tue, Apr 11, 2017

The survey stated, RBI's move in lifting up withdrawal limit on March 13, 2017, could have attributed to the happenings.

RERA may revive real estate sector in second half: Experts

RERA may revive real estate sector in second half: Experts

Mon, Apr 10, 2017

After May 1, when the Real Estate Regulatory Authority (RERA) is in place, the realty sector will likely see an uptrend with slight price correction, say industry players and stakeholders.

Q4 results likely to show recovery as note-ban woes fade

Q4 results likely to show recovery as note-ban woes fade

Mon, Apr 10, 2017

Jeffries said that the markets are likely already factoring in potential upward revision in consensus earnings in 2017-18.

Individuals have to disclose cash payments over Rs 2 lakh made for loans, card payments in new ITR form

Individuals have to disclose cash payments over Rs 2 lakh made for loans, card payments in new ITR form

Mon, Apr 10, 2017

Individuals will have to disclose all cash payments of over Rs 2 lakh made for paying loans and credit card bills during the 50-day period post demonetisation in the new Income Tax Return (ITR) form.

Axis Bank officials come under CBI scanner for allowing deposit of Rs 100 crore during demonetisation period

Axis Bank officials come under CBI scanner for allowing deposit of Rs 100 crore during demonetisation period

Fri, Apr 07, 2017

It was also alleged that during grace period of depositing demonetised notes, huge cash deposits were made in the bank several times during a day by a single person, the release mentioned.

18 lakh accounts under scanner for large deposits: FM Jaitley

18 lakh accounts under scanner for large deposits: FM Jaitley

Fri, Apr 07, 2017

Jaitley also said that financial inclusion was a top agenda of the government and it was on a rise, particularly for women.

NEFT transfers to take half hour as RBI cuts clearance time; should you just IMPS?

NEFT transfers to take half hour as RBI cuts clearance time; should you just IMPS?

Fri, Apr 07, 2017

RBI said, “In line with the document on Vision – 2018 for Payment and Settlement System, the NEFT settlement cycle has reduced for hourly batches to half hourly batches.”

India has a strong medium-term growth outlook, Fitch Ratings says

India has a strong medium-term growth outlook, Fitch Ratings says

Fri, Apr 07, 2017

Fitch Ratings said that its continues to rate India as BBB- or 'stable' on account of strong medium-term growth outlook and favourable external balances against weak fiscal position and a business environment which is still difficult.

RBI to soon allow banks to invest in REITs, InvITs; to issue detail guidelines by end of May

RBI to soon allow banks to invest in REITs, InvITs; to issue detail guidelines by end of May

Fri, Apr 07, 2017

The Reserve Bank of India (RBI) will soon allow banks to invest in REITs and InvITs which will boost the country's real estate sector.

RBI's bi-monthly monetary policy in two minutes

RBI's bi-monthly monetary policy in two minutes

Thu, Apr 06, 2017

The Reserve Bank of India (RBI) and Monetary Policy Committee (MPC) on Thursday kept the key policy rate unchanged at 6.25% in order to achieve its medium-term CPI inflation target of 4% and to support the economic growth.

9 things to watch out for before RBI's bi-monthly monetary policy

9 things to watch out for before RBI's bi-monthly monetary policy

Thu, Apr 06, 2017

RBI's repo and reverse repo rates are kept unchanged at 6.25% and 5.75% respectively, where it has been since October 2016. Marginal standing facility (MSF) rate and bank rate at 6.75% each.

India moves further away from demonetisation; services PMI rises in March

India moves further away from demonetisation; services PMI rises in March

Thu, Apr 06, 2017

India’s service sector Purchasing Managers’ Index (PMI) for the month of March rose to 50.3, Nikkei said on Thursday.

RBI bi-monthly monetary policy: Measures to soak up excess liquidity will be keenly watched

RBI bi-monthly monetary policy: Measures to soak up excess liquidity will be keenly watched

Thu, Apr 06, 2017

Despite RBI shifting its policy stance to neutral in February, the weighted average overnight rates has floated close to the reverse repo rate of 5.73% in March 2017, as liquidity surplus reaches at Rs 4.5 lakh crore in the month.

Nearly 90% banks delayed payments to ATMs; cash logistics firms await unpaid bills of Rs 110 crore

Nearly 90% banks delayed payments to ATMs; cash logistics firms await unpaid bills of Rs 110 crore

Thu, Apr 06, 2017

Liquidity crunch at ATMs has sparked the memory of demonetisation days however cash logistics firms allege that in the process of recalibration, unpaid bills from banks has amounted to Rs 110 crore, a report by The Indian Express said on Thursday.

ITR-1 Form: Disclose information on Rs 2 lakh cash deposit or pay 77% penalty

ITR-1 Form: Disclose information on Rs 2 lakh cash deposit or pay 77% penalty

Wed, Apr 05, 2017

Thus, the only way to avoid the penalty is to disclose the details of cash deposited during the demonetisation in the tax return.

Gurugram likely to slash property circle rate by 5% in FY18 to boost real estate business

Gurugram likely to slash property circle rate by 5% in FY18 to boost real estate business

Wed, Apr 05, 2017

To boost real estate market of the city, Gurugram's district administration has suggested to reduce its property circle rate by 5% in FY18.

Rs 2000, Rs 500 now Rs 200 notes? Sources say RBI clears proposal

Rs 2000, Rs 500 now Rs 200 notes? Sources say RBI clears proposal

Tue, Apr 04, 2017

After the introduction of Rs 2000 notes and new Rs 500 notes the Reserve bank of India has now cleared the proposal of Rs 200 notes, a report by Live Mint said on Tuesday.

India Inc's credit quality improves but remains fragile

India Inc's credit quality improves but remains fragile

Tue, Apr 04, 2017

Crisil, in its report, said, "The improvement was driven by firm commodity prices, stable macros, improving capital structure and lower interest costs. Going forward, we expect the gradual improvement in credit quality to sustain."

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