With an aim to weed out black money and corruption from public life, the government on Friday said in Lok Sabha that it wanted a reduction in the use of physical currency in the economy,
Despite a slowdown in India's GDP growth in short run due to cash crunch, India's growth rate will still be higher than China's in the medium term, according to Fitch Ratings. In a statement, the
Demonetisation will prompt weaker growth in the short term and "significantly disrupt economic activity" but can be useful in boosting tax incomes and convert into quicker fiscal consolidation, Moody's Investors Service said on Thursday.
With the huge influx of cash following demonetisation drive of Narendra Modi government, SBI on Wednesday slashed bulk deposit rates by up to 1.9 per cent taking advantage of the surge in deposits following demonetisation.
India’s one per cent of richest population now hold 58.4 per cent of country’s entire wealth, according to a report by the Credit Suisse Research Institute.
Noted Indian Yoga guru Baba Ramdev on Wednesday said that he will make 20,000 employments by putting billions of rupees in Nepal as he initiated a new venture to create organic medicine and other items.
The Centre is planning to introduce three bills related to the GST as money bills to ensure they are not stuck in the Rajya Sabha where the ruling NDA does not have a majority.
In a move to help farmers facing problems in sowing winter crops like wheat, the government has now permitted NABARD (National Bank for Agriculture and Rural Development) to dispense Rs. 21,000 crore to money-starved agriculturists,
In one of the largest retrenchment in the country, Engineering giant Larsen and Toubro has laid off 14,000 employees, which is around 11.2 % of its total workforce, across businesses during April-September period this year.
India's household wealth has fallen by USD 26 billion (Rs 1.7 lakh crore) to USD 3 trillion (over Rs 200 lakh crore) in the current year, a research report by global financial services major Credit Suisse has found
Banks have received Rs 5.44 lakh crore worth of old high denomination currency, Rs 33,006 crore of which was exchanged with valid notes, the Reserve Bank of India informed today.
The Narendra Modi government today allowed farmers to purchase seeds with the old high denomination bank notes of Rs.500 from the state-run outlets. In a series of posts, the finance ministry said: “To further support
With China and the US pumping in massive foreign capital into India's digital economy, a top Indian investor and educationist has warned that the country could become a "digital colony" unless Indian businesses start investing
The recent Rs 7000 crore waiver to the corporate honchos including that of Vijay Mallya have not gone down well with many citizens. A sanitation worker in Maharashtra’s Nashik has written to the State Bank
India's central banking institution Reserve Bank of India (RBI) has proposed opening of "Islamic window" in ordinary banks for "gradual" introduction of Sharia-compliant or interest-free banking in the nation. Both the Centre and RBI are
Sachin Bansal, co-founder and Executive Chairman of e-commerce giant Flipkart, has praised the demonetisation drive of the central government but added that its execution could have been better. "The intent is very good, and I
With huge inflow of cash due to the demonetisation drive of the government, State Bank of India (SBI) Wednesday slashed fixed deposit rates on select maturities by up to 0.15 percent. Term deposit of
The government today put an and end to rumours doing the rounds about demonetisation of Rs 500 and 1000 notes, saying there is no such intention to scrap such notes. In a series of tweets,
Amidst the scramble for money across the country, the Reserve Bank of India (RBI), Bhubaneswar, on Wednesday said that the new Rs. 500 notes will be available from November 17, 2016 crosswise over Odisha. “We
The operations of scrapping of 500 and 1000 rupee notes will end on December 30, but the government will continue to monitor your bank accounts for large cash transactions and beyond that. The government has
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