Prime Minister Narendra Modi on Sunday appealed the people, particularly the youths, to embrace e-banking and mobile banking for cashless transactions. "I need your support," Modi said in his monthly radio broadcast "Mann Ki Baat"
Following the demonetisation of 500 and 1000 rupee notes worth over Rs 14 lakh crore, new notes worth only Rs 1.5 lakh crore have come into circulation so far.
Blasting the over "poor implementation" of the demonetisation of high value currency notes, Bahujan Samaj Party (BSP) chief Mayawati today accused Prime Minister Narendra Modi of "blackmailing citizens by getting emotional everytime". She also said
Noted industrialist Ratan Tata today lauded Prime Minister Narendra Modi’s decision to ‘demonetise’ high-denomination currency notes and asked the countrymen to support his courageous initiative.
A Hanuman temple in Vijaywada city of Andhra Pradesh has received a whopping amount of Rs.1 crore and 5 lakh as donation in last one month after the central government scrapped high-denomination currencies.
The government is planning to levy a minimum of 50 per cent tax on unexplained bank deposits made using the scrapped currency notes up to December 30.
The Reserve Bank of India (RBI) today said that the facility to exchange old Rs 500 and Rs 1,000 notes will continue to be available at its counters, but not at those of commercial banks.
The central government today told the Supreme Court that the real intent behind ‘demonetisation’ is to fight ‘black money’ and ‘corruption’.
Prime Minister Narendra Modi on Wednesday claimed that over 90 per cent of the 5,00,000 people who participated in an online poll supported the Centre’s demonetisation move.
Jan Dhan bank accounts, opened under the government’s financial inclusion scheme, have seen a spurt in transactions post demonetisation with a whopping Rs 21,000 crore being deposited to these accounts.
The tax revenue of 47 municipalities this month is over two and a half times the amount collected in November last year as they continue to accept cash in demonetised Rs 500 and Rs 1000 notes.
Prime Minister Narendra Modi’s ‘demonetisation’ move has shocked a number of corrupt government officials who had stashed ‘black money’ in their homes and other places.
The National Association of Software and Services Companies (NASSCOM) has said that the government’s ‘demonetisation’ move will benefit the Indian IT industry in a big way.
More than Rs 6 lakh crore have been deposited so far in banks after the announcement of the demonetisation move, the government told the Supreme Court today.
Union Finance Minister Arun Jaitley today lauded Prime Minister Narendra Modi for the demonetisation move, saying that it was a courageous step and one that had created a new normal by disrupting the normal for the past 70 years.
The government has constituted a committee comprising Additional Secretaries, Joint Secretaries and Directors to know the status of implementation of its recent decision to scrap Rs 500 and 1,000 notes.
The government is working round the clock to reduce the transportation time of cash from printing to the main distribution centres from 21 to just six days.
Ten days after demonetisation of Rs 500 and Rs 1,000 notes was announced, the Income Tax department has started cracking the whip on people depositing huge amount of cash using scrapped notes.
Union Home Minister Rajnath Singh today once again lauded Prime Minister Narendra Modi’s demonetisation policy saying the ‘action will bring probity in political and administrative works besides reducing the gap between rich and poor’.
Many banks have now started witnessing shorter queues following some restrictions on exchange of scrapped Rs 500 and Rs 1,000 notes, but people were still seen waiting in frustration at ATMs due to cash scarcity.
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