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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.

CBDT detects over 30 tax irregularity cases, seizes over Rs130 crore

CBDT detects over 30 tax irregularity cases, seizes over Rs130 crore

Tue, Dec 06, 2016

Detecting ‘serious’ irregularities while disclosing income, the Central Board of Direct Taxes (CBDT) on Tuesday said that over 30 such cases have been reported to the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).

Indian services activity plunges into contraction in November on cash crackdown

Indian services activity plunges into contraction in November on cash crackdown

Mon, Dec 05, 2016

Indian services activity dived into contraction in November after Prime Minister Narendra Modi`s surprise move to withdraw high denomination banknotes led to a sharp decline in demand, a survey showed on Monday.

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Queues outside banks, ATMs were expected, says FM Jaitley

Queues outside banks, ATMs were expected, says FM Jaitley

Fri, Dec 02, 2016

Speaking at an event in New Delhi, Finance Minister, Arun Jaitley on Friday said that queues outside banks and ATMs were factored in while making plans to ban higher denomination currency.

Almost 90% ATMs re-caliberated but cash crunch still prevails

Almost 90% ATMs re-caliberated but cash crunch still prevails

Thu, Dec 01, 2016

Nearly 90 % of the 2 lakh ATMs deployed across the country have been re-calibrated to dispense the new 500 and 2,000 rupee notes, says a key maker of the machines even as millions of people continue to face acute cash shortages in the aftermath of demonetisation last month.

Demonetisation: A timeline of flip-flops since November 8

Demonetisation: A timeline of flip-flops since November 8

Mon, Nov 28, 2016

Prime Minister Narendra Modi shocked the country on November 8 by abolishing 500 and 1,000 rupee notes, which accounted for 86% of the cash in circulation. The move was aimed at cracking down on the shadow economy, but has brought India`s cash economy to a virtual standstill.

Getting married soon? Can withdraw cash only if pandits, florists don’t have bank accounts

Getting married soon? Can withdraw cash only if pandits, florists don’t have bank accounts

Tue, Nov 22, 2016

The Reserve Bank of India (RBI) on Monday added further terms and conditions to the government’s rule to allow wedding ceremonies to proceed as ‘business as usual.’

Demonetisation chaos: Urjit Patel should resign, bank union chief demands

Demonetisation chaos: Urjit Patel should resign, bank union chief demands

Mon, Nov 21, 2016

The head of All India Bank Officer’s Confederation, D Thomas Franco, on Monday called for the resignation of Reserve Bank of India (RBI) governor, Urjit Patel, on moral grounds.

Income Tax Dept may assess only 1% tax assesses on staff shortage

Income Tax Dept may assess only 1% tax assesses on staff shortage

Mon, Nov 21, 2016

The Income Tax department has come under tremendous pressure on account of shortage of staff and they may only focus on catching the big time tax evaders in the country.

Everything you need to know about demonetisation in just 2 minutes

Everything you need to know about demonetisation in just 2 minutes

Sat, Nov 19, 2016

Following the government’s announcement on the currency ban of Rs 500 and Rs 1,000 notes, a series of new developments and improvisations were declared.

Demonetisation turns bitter for Bengal's famed sweet shops

Demonetisation turns bitter for Bengal's famed sweet shops

Sat, Nov 19, 2016

Bengal's sweet tooth is set to turn bitter as makers of the popular rosogolla (rasgulla) and sandesh have been left battered by the central government`s decision to ban Rs 500 and Rs 1,000 currency notes in a bid to weed out black money.

Helping out a friend curtail black money? You could be penalised

Helping out a friend curtail black money? You could be penalised

Sat, Nov 19, 2016

The Ministry of Finance, on Friday said that persons agreeing to deposit other people's black money into their accounts, will also be liable to income tax and subject to penalties.

Demonetisation: India gold premiums surge to two-year highs on fears of import curb

Demonetisation: India gold premiums surge to two-year highs on fears of import curb

Fri, Nov 18, 2016

Gold premiums in India jumped to two-year highs this week as jewellers ramped up purchases on fears that the government might put curbs on imports after withdrawing higher-denomination notes from circulation in its fight against black money.

Cash crunch to hurt Indian palm oil imports

Cash crunch to hurt Indian palm oil imports

Fri, Nov 18, 2016

India's palm oil imports are expected to slip next month by up to a fifth, including from the top two producers Indonesia and Malaysia, as New Delhi`s removal of high-value rupee notes from circulation disrupts distribution systems and curbs demand.

Indian farmers fear lost crops, income after 'black money' move

Indian farmers fear lost crops, income after 'black money' move

Fri, Nov 18, 2016

For Indian farmer Buddha Singh, who works a small plot of land in the village of Bajna south of New Delhi, the government`s decision to abolish 500 and 1,000 rupee bank notes to crush the shadow economy could hardly have come at a worse time.

Now, get Rs 2,000 cash from petrol pumps

Now, get Rs 2,000 cash from petrol pumps

Fri, Nov 18, 2016

With long queues continuing at banks and ATMs, now petrol pumps will also dispense Rs 2,000 cash per person per day, state-run Doordarshan announced in a tweet on Thursday.

Pay IT dues in advance to avoid last minute rush, says RBI

Pay IT dues in advance to avoid last minute rush, says RBI

Thu, Nov 17, 2016

Reserve Bank has asked income tax assessees to pay their dues in advance for December quarter and has designated a total of 29 banks at which the payments can be done.

Facts vs Myth: Govt clarifies your doubts about demonetisation

Facts vs Myth: Govt clarifies your doubts about demonetisation

Thu, Nov 17, 2016

There have been a lot of rumours going around about the demonetisation move of PM Narendra Modi and the government sought to put them to rest with a series of tweets on Wednesday night.

Demonetisation: RBI lays down 6-step procedure for banks to use indelible ink

Demonetisation: RBI lays down 6-step procedure for banks to use indelible ink

Wed, Nov 16, 2016

The Reserve Bank of India (RBI) on Wednesday laid down a standard operating procedure to ensure the smooth transaction of money and application of indelible ink on people’s fingers.

NHAI may compensate concessionaires for loss in toll money

NHAI may compensate concessionaires for loss in toll money

Tue, Nov 15, 2016

With government's decision to stop toll collection till November 18 hitting concessionaires, National Highways Authority of India (NHAI) has proposed to compensate up to 75 % of the losses due to the move resulting from demonetisation.

Paytm records 700% increase in overall traffic, crosses 50 million downloads

Paytm records 700% increase in overall traffic, crosses 50 million downloads

Tue, Nov 15, 2016

Paytm on Monday said its overall traffic has increased by 700% with over 1000% growth in the amount of money added to its account after the government’s demonetisation move.

Demonetisation aftermath: No charges on ATM transactions till December 30

Demonetisation aftermath: No charges on ATM transactions till December 30

Tue, Nov 15, 2016

In yet another move to lessen woes of people facing cash crunch, the RBI directed banks to waive ATM charges on all transactions done by savings bank customers till December 30.

Currency ban: Modi directs steps to disburse more money in rural India

Currency ban: Modi directs steps to disburse more money in rural India

Mon, Nov 14, 2016

In a bid to ensure that people in rural areas are able to get access to cash, the government has enhanced the currency limits of banking correspondents, allowed them multiple visits to banks and disburse more money through branch post offices.

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