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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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Banks still grapple with huge rush, most ATMs run dry

Banks still grapple with huge rush, most ATMs run dry

Thu, Nov 17, 2016

Queues at some branches in the metros cities were seen slightly shorter for exchange of old currencies as the process of putting indelible ink has started from yesterday. As a result of this, those who have already exchanged old currency notes are unable to interchange again on the same day due to the ink mark.

Demonetisation: Govt reduces withdrawal limit, eases rules for farmers

Demonetisation: Govt reduces withdrawal limit, eases rules for farmers

Thu, Nov 17, 2016

Department of Economic Affairs (DEA)'s Secretary, Shaktikanta Das on Thursday announced new rules pertaining to the demonetisation move by the government. The rules include the following: 1. Exchange of old currencies have been reduced to Rs 2000 from Rs 4500 from November 18.

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.

NBFC shares suffer as Govt goes in demonetisation drive

NBFC shares suffer as Govt goes in demonetisation drive

Wed, Nov 16, 2016

“We believe companies which have lower exposure to the LAP books and low LTVs of around 60-65% would be in a better position to handle the deterioration in property prices. However, the near term demand for real estate is expected to be impacted,” Pandya said.

Demonetisation: Highway toll collection to drop by a third

Demonetisation: Highway toll collection to drop by a third

Wed, Nov 16, 2016

Shubham Jain, Vice-President, ICRA, said, “Most road projects have been operating on a low buffer over DSCR, owing to various factors like low base traffic/ traffic growth, high premium payments and modest toll rate hikes on account of the prevailing low wholesale price inflation over the past few years.

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.

Demonetisation may not harm wholesale inflation

Demonetisation may not harm wholesale inflation

Tue, Nov 15, 2016

Anushka Sawarkar – Associate Economist at Care Ratings said, “In terms of effect of the recent demonetisation, certain sectors could face fall in demand owing to the cash crunch. Demand for food would have limited impact.”

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.

Demonetisation effects: Can higher tax collection lead to improved GDP ratio, fiscal situation?

Demonetisation effects: Can higher tax collection lead to improved GDP ratio, fiscal situation?

Tue, Nov 15, 2016

Finance Minister Arun Jaitley believes that tax collection will increase. He said, "In the medium and long term, direct and indirect tax collection will increase. Lot of currency outside the banking system perforce will have to get into the system."

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.

RBI told banks to recaliberate ATMs with Rs 100-notes before demonetisation

RBI told banks to recaliberate ATMs with Rs 100-notes before demonetisation

Mon, Nov 14, 2016

In anticipation of the huge demand for lower currency notes, ahead of the demonetisation move, the Reserve Bank of India (RBI) had asked banks to set up Automated Teller Machines which dispensed only Rs 100 notes.

Demonetisation impact: India's manufacturing output may take a hit

Demonetisation impact: India's manufacturing output may take a hit

Mon, Nov 14, 2016

Suvodeep Rakshit, Economist of Kotak Institutional Equities said, “ While a gradual improvement in consumer sector production can be expected on the back of 7 Pay Commission payouts and monsoon-led rural demand, we need to be cautious on the degree of demand slowdown due to the recent demonetisation measures in a significantly high cash economy.”

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.

10 more days to use Rs 500, 1000 notes at Govt hospitals, petrol pumps

10 more days to use Rs 500, 1000 notes at Govt hospitals, petrol pumps

Mon, Nov 14, 2016

Finance Ministry on Sunday late night said that old currencies of Rs 500 and Rs 1,000 denominations will be accepted for another 10 days at government hospitals, petrol pumps and toll booths. Exchange of these notes at specified places was earlier allowed only up till November 11.

Demonetisation aftermath: Rs 3 lakh crore collected so far

Demonetisation aftermath: Rs 3 lakh crore collected so far

Mon, Nov 14, 2016

During the first four days - from November 10 – November 13, 2016 till 5 pm, nearly Rs 3 lakh crore of old notes have been deposited in the banking system, Ministry of Finance said.

Demonetisation aftermath: Jan Dhan accounts being used to convert black money

Demonetisation aftermath: Jan Dhan accounts being used to convert black money

Sat, Nov 12, 2016

More than 25 crore accounts created under the Jan Dhan scheme for below the poverty line families are being used to convert black money.

Demonitisation aftermath: Chaos grows, queues get longer at banks, ATMs on weekend

Demonitisation aftermath: Chaos grows, queues get longer at banks, ATMs on weekend

Sat, Nov 12, 2016

Virually every bank and ATM in India is seen filled with people and long queues snaking as people jostle to exchange or deposit Rs 500 and Rs 1,000 notes that have been demonetised.

Notes Exchange Facility: Here are key things you should know

Notes Exchange Facility: Here are key things you should know

Fri, Nov 11, 2016

If you are heading to ATMs or bank branches for exchange or deposit of your old Rs 500 and Rs 1,000 notes, here are important things that you should know.

Demonetization aftermath: SBI records nearly Rs 40,000 crore cash deposits so far

Demonetization aftermath: SBI records nearly Rs 40,000 crore cash deposits so far

Fri, Nov 11, 2016

Till Thursday, SBI saw cash deposits of Rs 31000 crore out of which Rs 700 crore were exchanged. In its Q2 review meeting held today, the bank said on Friday till now it has received Rs 22,000 crore of cash deposits and out of which Rs 723 crore were exchanged.

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