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Surprise! Forget Rs 2,000 notes, Rs 1,000 notes still in India's currency chest; So, what's really cooking? Find out

Surprise! Forget Rs 2,000 notes, Rs 1,000 notes still in India's currency chest; So, what's really cooking? Find out

Fri, Jan 04, 2019

Firstly, many blamed demonetisation for being an unplanned procedure. Secondly why bring in Rs 2000 notes, which is higher than the banned Rs 1000 notes if the agenda was to curb black money?

No counting machines, but sophisticated currency verification units being used for scrapped notes: RBI

No counting machines, but sophisticated currency verification units being used for scrapped notes: RBI

Mon, Sep 11, 2017

Rather, it is using "sophisticated Currency Verification and Processing (CVPS) machines for checking the numerical accuracy and genuiness of the currency notes, including SBNs (Specified Bank Notes that have been scrapped)", the RBI clarified later this evening.

How demonetisation dented the RBI

How demonetisation dented the RBI

Tue, Sep 05, 2017

On November 08, 2016, PM Narendra Modi announced the demonetisation of high denomination notes old Rs 500 and Rs 1000 to tackle black money and terror financing.

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Use of old Rs 500 notes for mobile top ups to help users: COAI

Use of old Rs 500 notes for mobile top ups to help users: COAI

Fri, Nov 25, 2016

Cellular operators association of India (COAI) on Thursday said government's decision to allow old Rs 500 notes to be used for pre-paid mobile recharges will address difficulties being faced by consumers, and allow them to continue using mobile services without disruption.

Govt extends exemptions on use of old Rs 500 note till December 15

Govt extends exemptions on use of old Rs 500 note till December 15

Fri, Nov 25, 2016

Facing severe attack in the wake of difficulties thrown up by demonetisation, government from Thursday night extended till December 15 the facility of using old Rs 500 notes in public utilities and included more services like mobile recharge but stopped the over-the-counter exchange of defunct cu

Exchange of old notes over the counter ends today

Exchange of old notes over the counter ends today

Thu, Nov 24, 2016

As per the Ministry, the suspension decision was taken after considering decline in trend.

Only 16 of every 250 fake notes detected in India

Only 16 of every 250 fake notes detected in India

Thu, Nov 24, 2016

Is India doing enough to detect fake notes, cited by the Prime Minister Narendra Modi as a significant reason for withdrawing 86 % of India`s currency, a process popularly known as `demonetisation`?

Modi's demonetisation process becomes nightmare for farmers in short-term

Modi's demonetisation process becomes nightmare for farmers in short-term

Thu, Nov 24, 2016

After conducting a discussion from many agriculture-dealing companies Ambit stated that given this is a relatively lean season as Kharif is behind and rabi is just starting, most companies haven’t yet rolled out any major help to dealers.

9 steps to tell PM Modi what you think about demonetisation

9 steps to tell PM Modi what you think about demonetisation

Tue, Nov 22, 2016

Prime Minister's Office (PMO), in a statement said, "People can submit their views through a survey consisting of 10 questions, which is available through the Narendra Modi App."

Harvard Professor Larry Summers says demonetisation costs exceed benefits

Harvard Professor Larry Summers says demonetisation costs exceed benefits

Tue, Nov 22, 2016

Surprised by the 'dramatic' Indian decision to ban higher currencies in India, Harvard Professor, Lawrence Summers (Larry) and PhD candidate Natasha Sarin said in a blog post on Monday that this was the ‘most sweeping change in currency policy that has occurred anywhere in the world in decades.’

Ready for discussion on demonetisation: Jaitley

Ready for discussion on demonetisation: Jaitley

Tue, Nov 22, 2016

"The whole country welcomed the step taken to curb the black money... We are ready to hold discussion on demonetisation," Jaitley said at a media briefing after the Bharatiya Janata Party`s (BJP) parliamentary body met.

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.

Rate, amount of black money regeneration to define ‘new normal’ of GDP growth

Rate, amount of black money regeneration to define ‘new normal’ of GDP growth

Mon, Nov 21, 2016

Demonetisation of higher denominations in India has led to a short term state of paralysis as in the fight against black money, the purchasing power of the people has also been curtailed.

Demonetisation: Decision-a-day betrays lack of preparedness

Demonetisation: Decision-a-day betrays lack of preparedness

Sat, Nov 19, 2016

Announcing the move on November 8, Prime Minister Narendra Modi said it was a "secret operation" and declared that it was a matter of inconvenience for just a "few days" -- unmindful, perhaps, that India is a country where 78% of transactions happen in cash.

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.

Demonetisation effect: Cash withdrawal at POS to be Rs 2000 across all centres

Demonetisation effect: Cash withdrawal at POS to be Rs 2000 across all centres

Sat, Nov 19, 2016

As an another customer-centric move in the times of demonetisation, the Reserve Bank of India (RBI) has now made the limit for cash withdrawal at point of sale (POS) - for debit cards and open system prepaid cards issued by banks in India, uniform at Rs 2000 per day available at all centres.

Banks to serve only their customers for exchange of notes tomorrow

Banks to serve only their customers for exchange of notes tomorrow

Fri, Nov 18, 2016

However, senior citizens are exempted and they can go to any bank branch to exchange notes tomorrow.

Demonetisation: SBI cash deposits cross Rs 1.2 lakh crore in 7 days

Demonetisation: SBI cash deposits cross Rs 1.2 lakh crore in 7 days

Fri, Nov 18, 2016

Cash deposits in State Bank of India reach Rs 1.27 lakh crore Exchange of old note transactions reach Rs 6,477 crore, says SBI SBI says cash withdrawal transactions amount to Rs 23,337 crore

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.

No plan to reissue Rs 1,000 note, ATMs being recalibrated: FM Jaitley

No plan to reissue Rs 1,000 note, ATMs being recalibrated: FM Jaitley

Thu, Nov 17, 2016

The Finance Minister also said that 22,500 ATMs would be re-calibrated 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.

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