the government has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more on credit card bills.
In a move aimed at pushing cashless transactions and expanding its ambit of bringing more transactions into the formal economy, the government is learnt to be considering a cut in the current limit of quoting PAN number for cash transactions.
Launching a nationwide campaign against the government’s demonetisation drive, Congress workers today staged protests at Reserve Bank of India (RBI) offices at several locations across the country.
Capital market regulator SEBI on Tuesday said It would be "too early" to hold the central government's demonetisation move responsible for the massive pullout of foreign portfolio investment from India during the October-December quarter
Indian consumers remain the most optimistic in the Asia-Pacific region and their outlook on economy and stock market showed highest levels of confidence even after their government's recent demonetisation measure, a report said on Monday.
The RBI has admitted that it has no details of any irregularities or scams in the exchange of the demonetised currency notes of Rs 500 and Rs 1,000 by the cooperative banks, a reply under RTI revealed on Monday.
Despite a fall in demand after the Central government’s demonetisation move, sales of automobiles have not come down but has actually gone up for the company, said a Maruti Suzuki India Ltd Chairman R.C Bhargava.
Nobel Laureate Kailash Satyarthi has expressed his disappointment saying that he had expected that demonetisation would restrain human trafficking but no significant effort has been seen yet.
In a stinging criticism, a leading US daily has said the "atrociously planned and executed" demonetisation in India has made peoples life increasingly difficult
The World Bank today decelerated India's growth for 2016-17 fiscal to a "still robust" 7 per cent from its previous estimate of 7.6 due to demonetisation
The government’s analysis of bank deposits post-demonetisation so far show an estimated Rs 3-4 lakh crore of tax-evaded income deposited in old notes during the 50-day window provided to get rid of junked Rs 500/1000 notes.
India, one of the world's fastest growing economies, is in an "exciting but challenging time" and has massive potential to become an "economic powerhouse", RBI's newly-appointed Deputy Governor and noted economist Viral Acharya said here.
Ever since the announcement of scrapping of old Rs 500 and Rs 1,000 notes was done by Prime Minister Narendra Modi, the government has suggested that the decision came from the RBI.
Finance Minister Arun Jaitley on Monday said that the tax collection has gone up in nine months from April 2016 to December 2016, indicating a robust gain despite demonetisation.
With only a month left for Uttar Pradesh assembly elections, an opinion poll from an Indian weekly has suggested that the Bharatiya Janata Party may sweep to power in the politically-crucial state.
Australia seems to be inspired with the move as it is also reportedly mulling over the idea of demonetising its highest denomination note.
In a massive crackdown on black money hoarders across the country, the Income Tax Department has detected over Rs 4,663 crore of undisclosed income post the demonetisation of two high-value currencies by the government.
Prime Minister Narendra Modi has strongly defended his move to demonetise higher currency denominations, calling it a "difficult" but apolitical decision
In yet another shocking revelation related to black money hoarding post demonetisation, it has been found that launderers and arms suppliers are pumping illegal wealth into tax-exempt bank accounts of local tribes and even as investments in guns in N
Banks have collected Rs 14 lakh crore of the Rs 15.4 lakh crore worth of Rs 500 and Rs 1,000 notes that were scrapped as a result of Prime Minister Narendra Modi’s November 8 declaration.
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