President Pranab Mukherjee on Wednesday warned that the Centre’s move to demonetise 86 per cent of total cash in circulation may lead to temporary slowdown of the economy.
Reserve Bank of India on Thursday said such estimates may not be correct as it is still in the process of counting scrapped notes of Rs 500 and Rs 1000 which have been deposited to banks.
Nearly 97 per cent of scrapped Rs 500 and Rs 100 notes have been deposited in the banks, a media report said today.
The Congress on Wednesday urged the Election Commission to ensure free and fair polls while the BJP exuded confidence of victory due to the positive undercurrent post demonetisation.
A frustrated poor woman who was unable to get a few junked currency notes exchanged became topless in front of the RBI’s regional office in the capital on Wednesday. The woman, who was with her
States on Tuesday asked for more compensation to deal with revenue loss estimated at Rs. 90,000 crore post demonetisation and sought an increase in the number of items on which cess is to be levied for the purpose.
As banks move to reduce benchmark lending rates after spurt in deposits following demonetisation, housing, auto and corporate loans are all set to become cheaper.
A survey conducted by the Directorate General of Central Excise Intelligence (DGCEI) has found that over four tonnes of gold worth over Rs 1,250 crore was sold within 48 hours of the announcement of the ‘demonetisation’ drive.
Arvind Panagariya, vice chairperson of Niti Aayog, is learnt to have written to the Prime Minister’s Office stressing on the need to specify rules to ensure that people, especially women, are not made to suffer for having deposited old notes
50 days after the decision to demonetise high-value currency notes of Rs 500 and Rs 1000 notes were announced by Prime Minister Narendra Modi on November 8, the Reserve Bank of India continues to maintain
The deposits in Jan Dhan account have more than doubled to Rs 87,000 crore in 45 days post-demonetisation.
Prime Minister Narendra Modi is addressing the nation on New Year’s eve. According to reports, the Prime Minister is expected to spell out the post-demonetisation roadmap.
The 50-day deadline to deposit the old Rs 500 and Rs 1,000 notes in banks comes to an end today. However, people will still have time to exchange the currency notes at designated RBI counters till March 31 after giving valid reasons for not depositin
RBI Governor Urjit Patel today said the demonetisation exercise will have "far reaching changes" towards a transformative effect on the economy going forward, despite some short-term disruptions and "public hardship".
If there is one thing that has gripped the attention and discourse across the country, it is demonetization. On November 8, Prime Minister Narendra Modi announced the government’s decision to scrap 500- and 1000-rupee notes.
Fifty days after the government’s decision of demonetisation, India's central banker Reserve Bank of India (RBI) declined to give reasons behind the scrapping of Rs 500 and 1000 old notes, saying that the purposes for
A section of employees at West Bengal's Salboni currency printing press have decided to not work beyond nine hours shift citing health issues, a move that is likely to impact the printing of currency notes.
Government today clarified that payment towards tax, surcharge, penalty and deposit under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) can be made with demonetised high value notes.
West Bengal Chief Minister Mamata Banerjee today announced the launch of Modi Hatao Desh Bachao campaign in all districts of West Bengal from January 1.
Congress vice-president Rahul Gandhi on Wednesday targeted Prime Minister Narendra Modi over the demonetisation of Rs 500 and Rs 1000 notes saying that the move was aimed to waive off loans of rich people by taking money from the poor.
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