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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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.

TRENDING NOW

GDP numbers: How did cash-dominated sectors perform so well despite demonetisation?

GDP numbers: How did cash-dominated sectors perform so well despite demonetisation?

Thu, Mar 02, 2017

What is hard to believe in the given GDP numbers was the performance of cash-dominated sectors where analysts expected a significant slowdown post demonetisation, but has seen uptick compared to Q2FY17.

Banks look to charge withdrawals as cash crunch eases

Banks look to charge withdrawals as cash crunch eases

Thu, Mar 02, 2017

Prime Minister Narendra Modi-led Government is foucssed on making India a less-cash society. In this bid, the government has taken many initiatives to promote digital currency and dissuade citizens from using cash. The latest step in this direction is banks charging customers for withdrawing their own cash.

RBI data show that Indians are rushing to withdraw cash as demonetisation pain eases

RBI data show that Indians are rushing to withdraw cash as demonetisation pain eases

Wed, Mar 01, 2017

HDFC Bank in one of its report said, “With the surge in deposits growth from 9.8% in 1H-FY17 to around 13% in 2H-FY17, commercial banks in India are at the moment flush with liquidity. After a spurt in deposits post-demonetisation, there is now a trend-reversal underway.”

Demonetisation likely to be credit positive for India, Moody's says

Demonetisation likely to be credit positive for India, Moody's says

Wed, Mar 01, 2017

Progress on the pending Goods and Services Tax (GST) reform and Finance Minister Arun Jaitley's 2017 budget speech to parliament both underscore the government's commitment to reform in the wake of demonetisation.

Banks deposits soar 16% but credit fails to grow

Banks deposits soar 16% but credit fails to grow

Wed, Mar 01, 2017

RBI said, "On a year-on-year (y-o-y) basis, aggregate deposits grew at an accelerated pace in all population groups (except in metropolitan areas) and for all bank groups; on the other hand, however, bank credit decelerated across all population groups and bank groups."

India's Q3 GDP numbers may not have recorded true impact of demonetisation

India's Q3 GDP numbers may not have recorded true impact of demonetisation

Wed, Mar 01, 2017

State Bank of India (SBI) in its report said, “The Q3FY17 estimates are crucial in the sense that it should have given the impact of what happened in the economy during those two months of demonetisation.”

India's strong GDP data leaves economists scratching their heads

India's strong GDP data leaves economists scratching their heads

Wed, Mar 01, 2017

The strong data have also reignited the debate about the credibility as well as the quality of the official GDP data.

Demonetisation may lead to lower growth for cement sector, report says

Demonetisation may lead to lower growth for cement sector, report says

Tue, Feb 28, 2017

Analysts at India Ratings said, “The operating profitability of cement manufacturers in FY18 to be around the FY16 and estimated FY17 levels, due to stable demand growth, despite increase in input costs. Demand will be backed by an increase in government expenditure.”

10 lakh bankers go on strike today; will your salary credit be affected?

10 lakh bankers go on strike today; will your salary credit be affected?

Tue, Feb 28, 2017

About 10 lakh bankers have observed one-day strike across India on Tuesday to protest against the government's "anti-people banking reforms" and to press their demands to the government for compensation for the extra work done during the demonetisation period.

Demonetisation impact: Here's what experts say about India's GDP growth

Demonetisation impact: Here's what experts say about India's GDP growth

Tue, Feb 28, 2017

Soon after the announcement of the ban on Rs 500 and Rs 1000 notes, the experts and economists, who were expecting GDP around 7.6% revised the numbers to below 7%.

Magma Fincorp to sell non-performing assets up to Rs 600 crore

Magma Fincorp to sell non-performing assets up to Rs 600 crore

Mon, Feb 27, 2017

The management committee was authorised to take the decision on the proposed NPA sale.

Residential realty likely to witness weak sales, commercial & retail segment to record stable growth in 2017: Care Ratings

Residential realty likely to witness weak sales, commercial & retail segment to record stable growth in 2017: Care Ratings

Mon, Feb 27, 2017

Care Ratings has projected India's residential real estate sector to witness low sales in 2017 on back of buyers waiting for more interest rate cut from the Reserve Bank of India (RBI), deferral of house buying decision among IT professionals, among others.

CSO to unveil Q3 GDP estimate with note ban impact tomorrow

CSO to unveil Q3 GDP estimate with note ban impact tomorrow

Mon, Feb 27, 2017

The First Advance Estimates of National Income, 2016-17, did not take into account the impact of demonetisation.

We were having one of the best years of Raymond before demonetisation hit us: Sudhandhu Pokhriyal, Raymond

We were having one of the best years of Raymond before demonetisation hit us: Sudhandhu Pokhriyal, Raymond

Mon, Feb 27, 2017

Apart from demonetisation Pokhriyal further spoke on GST, Textile Minister Smriti Irani and how US President Donald Trump's decision to end the Trans-Pacific Partnership (TPP) is beneficial to them.

9 bank unions to observe one-day strike on February 28

9 bank unions to observe one-day strike on February 28

Mon, Feb 27, 2017

About nine bank unions of India will go on one-day strike on February 28 this year to protest against the government's anti-people banking reforms.

Digital payment can check black money, graft: Modi

Digital payment can check black money, graft: Modi

Sun, Feb 26, 2017

Digital payment can check black money and play a key role in fighting graft, Prime Minister Narendra Modi said today as he asked the youth to become an "anti-corruption cadre" as part of the "cleanliness" drive.

Prestige Q3 sales bookings fall 27% to Rs 429 crore

Prestige Q3 sales bookings fall 27% to Rs 429 crore

Sun, Feb 26, 2017

During April-December period of the 2016-17 fiscal, Prestige Estates Projects reported over 4 per cent decline in sales bookings at Rs 1,823.1 crore from Rs 1,908.7 crore in the corresponding period of the previous year.

Paytm throws lifeline to Snapdeal, Stayzilla ex-staffers

Paytm throws lifeline to Snapdeal, Stayzilla ex-staffers

Sun, Feb 26, 2017

Paytm founder and CEO Vijay Shekhar Sharma tweeted: "Hello, Tech/Product people in Delhi NCR, feeling heat of business restructuring. We welcome you @Paytm and @Paytm-Mall with open arms."

Demonetisation fraud: Court takes cognisance on charge sheet

Demonetisation fraud: Court takes cognisance on charge sheet

Sat, Feb 25, 2017

The charge sheet filed through Special Public Prosecutor Vikas Garg, who appeared for ED, named as accused 32-year-old Vineet Gupta, then branch manager in Axis Bank's Kashmere Gate branch here, 33-year-old Shobit Sinha, then manager (operations) in the bank, and Rajeev Kumar Kushwaha, suspected to be the mastermind behind floating of shell companies. The three accused are presently lodged in judicial custody.

Cash source of black money generation: Piyush Goyal

Cash source of black money generation: Piyush Goyal

Sat, Feb 25, 2017

Declaring that he felt disappointed about the happenings in the chartered accountant profession that he himself was earlier part of, Goyal reminded the gathering about what Finance Minister Arun Jaitley had said on the aim of demonetisation.

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