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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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

India's second quarter GDP growth slows down

India's second quarter GDP growth slows down

Wed, Nov 30, 2016

According to the median consensus of 35 economists, GDP was forecasted ranged from 6.5% to 8.7%.

Demonetisation: Paytm records over 35 million online recharge transactions

Demonetisation: Paytm records over 35 million online recharge transactions

Wed, Nov 30, 2016

Paytm has recorded over 35 million online recharge transactions in the last few days after the Government of India started its demonetisation drive few weeks back which forced mobile users to shift their recharge transactions from offline to online ones.

Small cars, two-wheelers, CV sales to stabilise quickly after demonetisation

Small cars, two-wheelers, CV sales to stabilise quickly after demonetisation

Wed, Nov 30, 2016

However, the sale of luxury cars is expected to be hit the hardest and may take a while for it to recover.

Demonetisation: India cash ban slims down big fat weddings

Demonetisation: India cash ban slims down big fat weddings

Wed, Nov 30, 2016

Jatin Pal`s wedding was just days away and his family were finalising plans for an extravagant multi-day celebration -- then Indian Prime Minister Narendra Modi banned high denomination notes overnight, casting a dark shadow over the festivities.

RBI lowers cash withdrawal limit from Jan-Dhan accounts to Rs 10,000 per month

RBI lowers cash withdrawal limit from Jan-Dhan accounts to Rs 10,000 per month

Wed, Nov 30, 2016

In an attempt to protect the innocent farmers and rural account holders of Pradhan Mantri Jan-Dhan Yojana (PMJDY) scheme from money laundering and legal consequences, the Reserve Bank of India (RBI) on Tuesday announced restrictions on cash withdrawal limit to Rs 10,000 per month.

RBI relaxes withdrawal norms, nudges retailers to deposit cash

RBI relaxes withdrawal norms, nudges retailers to deposit cash

Wed, Nov 30, 2016

Nudging retailers such as malls and shop owners to deposit their daily collections with banks, Reserve Bank of India (RBI) has said they would be allowed to withdraw the deposited sum in Rs 2,000 and Rs 500 notes, irrespective of the existing withdrawal limits.

Chilled by demonetisation, India to take cold comfort from strong GDP

Chilled by demonetisation, India to take cold comfort from strong GDP

Wed, Nov 30, 2016

India can ill-afford to take much pride in having the world`s fastest growing large economy when it releases September quarter data on Wednesday, with businesses, farmers and families all suffering after the government`s sudden demonetisation drive.

IRDAI warns insurers not to accept defunct Rs 500/1000 notes towards premium

IRDAI warns insurers not to accept defunct Rs 500/1000 notes towards premium

Tue, Nov 29, 2016

Irdai warned that insurers that they cannot accept old Rs 500 or Rs 1,000 notes for insurance premium.

Demonetisation: 28% citizens yet to deposit old currency in bank, says Survey

Demonetisation: 28% citizens yet to deposit old currency in bank, says Survey

Tue, Nov 29, 2016

While 28% indicated they were yet to deposit their old currency, approximately 60% indicated that they have already deposited their old currency in the bank.

Notes Ban: Fitch cuts India's FY17 growth forecast to 6.9%

Notes Ban: Fitch cuts India's FY17 growth forecast to 6.9%

Tue, Nov 29, 2016

Fitch Ratings on Tuesday lowered India's gross domestic product (GDP) growth forecast for the current fiscal to 6.9% from 7.4%, saying there will be "temporary disruptions" to economic activity post demonetisation.

Direct tax collection will get a long-term boost, Franklin Templeton says

Direct tax collection will get a long-term boost, Franklin Templeton says

Tue, Nov 29, 2016

There is a likely structural improvement in tax to GDP ratio in Indian economy, the report said.

RBI may front-load rate cut to December to support growth: DBS

RBI may front-load rate cut to December to support growth: DBS

Tue, Nov 29, 2016

While global uncertainties and rupee volatility suggest first quarter (Q1) of 2017 is a better time to ease rates, the Reserve Bank of India (RBI) may bring forward the rate cut to December to support growth and tap favourable inflation outlook, says a DBS report.

Demonetisation impact: Bharat Financials collections peaked at 159% by Nov 18

Demonetisation impact: Bharat Financials collections peaked at 159% by Nov 18

Tue, Nov 29, 2016

Most of the Microfinance institutions (MFIs) have stopped disbursement either due to shortage of currency or due to fear of misuse.

India's GDP growth likely picked up in July-Sept but demonetisation to dent future growth: Reuters poll

India's GDP growth likely picked up in July-Sept but demonetisation to dent future growth: Reuters poll

Tue, Nov 29, 2016

India's economy probably picked up steam in the July-September quarter on strong demand, but Prime Minister Narendra Modi`s surprise currency crackdown this month will likely dent growth in coming months, a Reuters poll found.

Demonetisation: Bank withdrawals stand at 20% of total deposits

Demonetisation: Bank withdrawals stand at 20% of total deposits

Tue, Nov 29, 2016

On the evening of November 8, Prime Minister Narendra Modi in a televised address said that nearly 86% of Rs 16 lakh crore that oiled the Indian economy by way of Rs 500 and Rs 1000 notes were illegal tender from midnight.

Demonetisation to push digital economy: Nandan Nilekani

Demonetisation to push digital economy: Nandan Nilekani

Tue, Nov 29, 2016

Demonetisation would see a massive activation of digitisation of financial services in the country, although there will be some amount of "short-term pain" in the coming weeks, former UIDAI Chairman Nandan Nilekani said on Monday.

Income Tax: This is how the new amnesty scheme looks like

Income Tax: This is how the new amnesty scheme looks like

Tue, Nov 29, 2016

The Government on Monday introduced a new Bill in Lok Sabha to tax newly deposited undeclared income as part of demonetisation drive.

Will banks delay lending rates cut post RBI's CRR move?

Will banks delay lending rates cut post RBI's CRR move?

Mon, Nov 28, 2016

Because of this move, the total CRR requirement of the banks would be around Rs 8 lakh crore.

HUL says demonetisation, GST win-win for India

HUL says demonetisation, GST win-win for India

Mon, Nov 28, 2016

Indian consumer goods company, Hindustan Unilever in an investor presentation on Monday said that the demonetisation move by the government and the upcoming Goods and Service Tax (GST) bill will be a ‘win-win’ situation for all.

Income Tax: Govt introduces new Bill to tax newly declared money

Income Tax: Govt introduces new Bill to tax newly declared money

Mon, Nov 28, 2016

The Taxation Laws (Second Amendment) Bill, 2016, proposes to make some changes in the Act.

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