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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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Booked railway tickets with old notes: Railways won't give you cash refunds

Booked railway tickets with old notes: Railways won't give you cash refunds

Fri, Nov 11, 2016

Indian Railways on Thursday announced that people will no longer receive cash transfers on cancellation of tickets booked on November 9 and November 11.

Demonetisation impact: Car, bike sales to feel the heat

Demonetisation impact: Car, bike sales to feel the heat

Fri, Nov 11, 2016

Automobile sales could be impacted in the coming month as sales in many rural parts of India was done earlier using cash transactions.

Banknotes ban effect: Transactions via RuPay cards nearly doubled

Banknotes ban effect: Transactions via RuPay cards nearly doubled

Fri, Nov 11, 2016

National Payments Corporation of India (NPCI) on Friday said “RuPay usage on Point Of Sale (PoS) / e-Commerce was around 8 lakh transactions a day compared with a daily average of 4 lakh transactions earlier. The value of transactions almost doubled.”

Nepal's banking system holds banned Indian currency notes

Nepal's banking system holds banned Indian currency notes

Fri, Nov 11, 2016

Nepal`s banking system has held banned Indian currency (IC) Rs 500 and Rs 1,000 notes worth Rs 35 million ($524,737).

Cash management agencies hope to normalise ATMs operations in 2 weeks

Cash management agencies hope to normalise ATMs operations in 2 weeks

Fri, Nov 11, 2016

Cash management agencies that move billions of rupees in and out of over 2.2 lakh ATMs across the country have started a major exercise that may see Rs 40,000 crore worth of notes being shifted around and hope to normalise operations for the public in two weeks.

Now, you can pay water, electricity bills using old Rs 500, Rs 1,000 notes

Now, you can pay water, electricity bills using old Rs 500, Rs 1,000 notes

Thu, Nov 10, 2016

The old notes can be used for making payment of utility services such as water, electricity, taxes, charges, penalties to central and state governments.

Not mobile wallets, cash will still be king in India

Not mobile wallets, cash will still be king in India

Thu, Nov 10, 2016

While mobile wallets came out immediately with figures of how much people have increased using their services after PM Modi's announced, the fundamental question still remains whether people will revert to buying using cash once they have exchanged their currency.

Money-changers make merry as people flock to convert black money

Money-changers make merry as people flock to convert black money

Thu, Nov 10, 2016

Where there's a will, there's a way. This adage could not have been more true given how desperately people in metros like New Delhi and Mumbai are reaching out to money-changers and middle-men to convert their ill-gotten wealth into legal tender.

Deposits above Rs 2.5 lakh to face tax, 200% penalty on mismatch

Deposits above Rs 2.5 lakh to face tax, 200% penalty on mismatch

Thu, Nov 10, 2016

Further dangling the stick, government on Wednesday warned that cash deposits above Rs 2.5 lakh threshold under the 50-day window could attract tax plus a 200% penalty in case of income mismatch.

Rs 500, Rs 1000 ban: Banks to remain open on Saturday, Sunday, says RBI

Rs 500, Rs 1000 ban: Banks to remain open on Saturday, Sunday, says RBI

Wed, Nov 09, 2016

Prime Minister Narendra Modi had announced that Rs 500, Rs 1000 notes will no longer be a legal tender.

Currency demonetisation: Housing prices may see correction, says Knight Frank

Currency demonetisation: Housing prices may see correction, says Knight Frank

Wed, Nov 09, 2016

In a move to curb black money, Prime Minister Narendra Modi's on Tuesday said that Rs 500 and Rs 1000 currency notes will cease to be legal tender. India's real estate sector, the biggest generator of black money, is already feeling the pinch.

SBI says has sufficient Rs 100 notes in ATMs, branches

SBI says has sufficient Rs 100 notes in ATMs, branches

Wed, Nov 09, 2016

State Bank of India said on Wednesday that its branches will remain open tomorrow with extended hours of work up till 6 pm.

Have been printing new currency for the past few months, FM Jaitley says

Have been printing new currency for the past few months, FM Jaitley says

Wed, Nov 09, 2016

Finance Minister of India Arun Jaitley has said most of illicit money was in Rs 500 and Rs 1000 denominations.

Will people take to e-wallets like Paytm, Freecharge as Govt scraps some notes?

Will people take to e-wallets like Paytm, Freecharge as Govt scraps some notes?

Wed, Nov 09, 2016

The demonetisation move by the government which left old Rs 500 and Rs 1,000 notes illegal tenders from midnight of November 8 made people switch preferences to e-wallets like Paytm and debit or credit card transactions.

Elimination of high-denomination notes is a good thing; here's why

Elimination of high-denomination notes is a good thing; here's why

Wed, Nov 09, 2016

Kotak Institutional Equities said, “We see the government’s move as a positive for the economy in the medium term. The latest step appears to be the final one in the government’s systematic approach to remove black money from the economy.”

Black money crackdown: Rs 500, 1000 demonetisation causes useless panic

Black money crackdown: Rs 500, 1000 demonetisation causes useless panic

Wed, Nov 09, 2016

The decision of PM Modi to demonetise Rs 500 and Rs 1,000 notes surely caused a lot of useless worry among the people and a ton of jokes on social media platforms.

New Rs 500, Rs 2000 notes: Here are the new features

New Rs 500, Rs 2000 notes: Here are the new features

Tue, Nov 08, 2016

Patel said that RBI was concerned about growing menace of fake Indian currency notes which has been increasing in numbers.

Rs 500, Rs 1000 notes expiry: Will domestic stock market bleed in tomorrow's trade?

Rs 500, Rs 1000 notes expiry: Will domestic stock market bleed in tomorrow's trade?

Tue, Nov 08, 2016

Bhattacharya also mentioned that the SBI will work round-the-clock to meet the demand.

9 steps you must take to exchange your old Rs 500, Rs 1,000 notes

9 steps you must take to exchange your old Rs 500, Rs 1,000 notes

Tue, Nov 08, 2016

For those who are worried what will happen their money, the government has given guidelines on how they can convert this money and not suffer any financial losses.

Everything you need to know about PM Modi's historic announcement

Everything you need to know about PM Modi's historic announcement

Tue, Nov 08, 2016

The Government has accepted the recommendations of the RBI to issue Two thousand rupee notes.

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