1000 Rupees Notes

The government had on November 8, 2016, announced ban on old 500 and 1000 rupee notes, to curb black money in the system.

Of the Rs 15.41 lakh crore worth 500 and 1,000 rupee notes in circulation before November 8, 2016, notes worth Rs 15.31 lakh crore have been returned, said RBI.

Four sacks full of shredded pieces of scrapped currency notes of Rs 500 and Rs 1,000 denominations were found in a pile of garbage here, police said.

Prime Minister Narendra Modi last year in a surprise move banned Rs 500 and Rs 1,000 notes to counter black money, with the high denomination notes losing their legal tender status from midnight of November 8.

The Reserve Bank on August 25 had launched a bright yellow Rs 200 notes to ease pressure on lower-denomination currency bills and also fill the "missing link" between Rs 100 and Rs 500 currency.

Opposition in the Rajya Sabha today sought to know why the Reserve Bank of India has not yet provided the number of demonetised 500 and 1000 rupee notes returned in the banking system, even after nine months of the note ban decision.

The relaxation comes against the backdrop of reports that many district co-operative banks did not have enough cash to disburse to farmers.

Economic Affairs Secretary Shaktikanta Das had last month said that the government has no plans to re-introduce 1,000 rupee notes.

The government has notified the law that makes holding of more than 10 scrapped notes punishable with a minimum fine of Rs 10,000.

From February 20, the limits from cash withdrawal from savings bank accounts were increased to Rs 50,000 per week. And effective March 13, 2017, there will be no limits on cash withdrawal from savings bank accounts.

The government has no plans to introduce 1,000-rupee notes - abolished last year - but is focusing on ramping up production of 500-rupee and other lower denomination notes, Economic Affairs Secretary Shaktikanta Das tweeted today, scotching rumours that currency printing presses had started printing a new version of the Rs 1,000 note.

Demonetisation has burnt a Rs 350 crore-hole in West Bengal Chief Minister Mamata Banerjee's state budget. That money will be given to "victims", as it were, of the centre's move last November to abruptly scrap Rs 500 and 1,000 rupee notes: migrant workers who lost jobs in other states and had to return home and farmers and sharecroppers hit by the...

Former Prime Minister Manmohan Singh today reserved his critique on the budget but questioned Finance Minister Arun Jaitley's statement on the impact of demonetization being transient.

India's economy is expected to grow by between 6.75 and 7.5 percent in the coming fiscal year, roughly in line with this year's expected 7.1 percent, says the Economic Survey, a report card prepared by the government before Finance Minister Arun Jaitley presents the Union Budget tomorrow. The survey said the economy should steady after the hit from...

Reserve Bank of India Governor Urjit Patel is expected to appear before a parliamentary panel today, which has asked him to explain the decision of demonetisation and its effect on economy. He is also expected to be asked about the steps the nation's Central bank took to counter the cash crunch that followed the sudden withdrawal of 500- and 1000-...

The government had on November 8, 2016, announced ban on old 500 and 1000 rupee notes, to curb black money in the system.

Of the Rs 15.41 lakh crore worth 500 and 1,000 rupee notes in circulation before November 8, 2016, notes worth Rs 15.31 lakh crore have been returned, said RBI.

Four sacks full of shredded pieces of scrapped currency notes of Rs 500 and Rs 1,000 denominations were found in a pile of garbage here, police said.

Prime Minister Narendra Modi last year in a surprise move banned Rs 500 and Rs 1,000 notes to counter black money, with the high denomination notes losing their legal tender status from midnight of November 8.

The Reserve Bank on August 25 had launched a bright yellow Rs 200 notes to ease pressure on lower-denomination currency bills and also fill the "missing link" between Rs 100 and Rs 500 currency.

Opposition in the Rajya Sabha today sought to know why the Reserve Bank of India has not yet provided the number of demonetised 500 and 1000 rupee notes returned in the banking system, even after nine months of the note ban decision.

The relaxation comes against the backdrop of reports that many district co-operative banks did not have enough cash to disburse to farmers.

Economic Affairs Secretary Shaktikanta Das had last month said that the government has no plans to re-introduce 1,000 rupee notes.

The government has notified the law that makes holding of more than 10 scrapped notes punishable with a minimum fine of Rs 10,000.

From February 20, the limits from cash withdrawal from savings bank accounts were increased to Rs 50,000 per week. And effective March 13, 2017, there will be no limits on cash withdrawal from savings bank accounts.

The government has no plans to introduce 1,000-rupee notes - abolished last year - but is focusing on ramping up production of 500-rupee and other lower denomination notes, Economic Affairs Secretary Shaktikanta Das tweeted today, scotching rumours that currency printing presses had started printing a new version of the Rs 1,000 note.

Demonetisation has burnt a Rs 350 crore-hole in West Bengal Chief Minister Mamata Banerjee's state budget. That money will be given to "victims", as it were, of the centre's move last November to abruptly scrap Rs 500 and 1,000 rupee notes: migrant workers who lost jobs in other states and had to return home and farmers and sharecroppers hit by the...

Former Prime Minister Manmohan Singh today reserved his critique on the budget but questioned Finance Minister Arun Jaitley's statement on the impact of demonetization being transient.

India's economy is expected to grow by between 6.75 and 7.5 percent in the coming fiscal year, roughly in line with this year's expected 7.1 percent, says the Economic Survey, a report card prepared by the government before Finance Minister Arun Jaitley presents the Union Budget tomorrow. The survey said the economy should steady after the hit from...

Reserve Bank of India Governor Urjit Patel is expected to appear before a parliamentary panel today, which has asked him to explain the decision of demonetisation and its effect on economy. He is also expected to be asked about the steps the nation's Central bank took to counter the cash crunch that followed the sudden withdrawal of 500- and 1000-...