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99.3 Per Cent Of Demonetised Notes Returned To Banks: RBI
As much as 99.3 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, the RBI said today, indicating that just a miniscule percentage of currency was left out of the system after the government's unprecedented note ban aimed at curbing black money and corruption.
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Summoned To Explain Notes Ban, Here's What RBI Governor Urjit Patel Said
Urjit Patel, the Governor of the Reserve Bank of India, today told a parliamentary committee that since the notes ban was introduced in November, 9.2 lakh crores (about $135 billion dollars) of new currency notes have been introduced to help replace the bills that were abolished. He also established that "The proposal to ban Rs 500- and 1000-rupee ...
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Won't Interfere, Says Arun Jaitley After Complaints Of RBI Refusing Old Notes
Clarifying the government's stand on the December 30 deadline for the deposit of banned 500 and 1000-rupee notes, Finance Minister Arun Jaitley said Prime Minister Narendra Modi had specifically said that the central bank RBI will fix "terms and conditions" for the same.
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PM Narendra Modi's 5 Key Announcements In New Year Eve Address To Nation
Thanking people for their support and cooperation to his demonetisation drive, Prime Minister Narendra Modi today made a series of announcements reiterating his government's focus on the welfare of farmers and the poor. He was making a televised address to the nation on new year's eve and said he was grateful for the patience that people had shown ...
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Hyderabad Businessman Arrested For 98 Crores 'Black Money' Deposits In Banks
A city-based businessman was arrested on Wednesday for allegedly cheating and generating 'fake and fictitious' advance payment receipts to deposit "black money" to the tune of Rs 98 crore in banks following the ban of 500 and 1000-rupee notes last month.
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Why Not Deposit All In One Go, Says Finance Minister Arun Jaitley, On New Rs 5,000 Rule
After tightening rules for depositing old 500 and 1000-rupee notes, Finance Minister Arun Jaitley said on Monday evening that no questions will be asked if any amount of scrapped currency is deposited in one go but repeated deposits may raise queries.
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Petrol, Diesel Cheaper If You Pay By Card, Says Finance Minister Arun Jaitley: Highlights
It's been a month since the government banned old 500 and 1000-rupee notes as part of its fight against unaccounted or black money. Finance Minister Arun Jaitley today announced 11 measures that the government has taken to expedite the digital switchover, including a 0.75 per cent discount for those who purchase petrol or diesel through digital pay...
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Reserve Bank To Announce Monetary Policy Decision On December 7, 1st Since Notes Ban
The Reserve Bank will come out with monetary policy review, the first after demonetisation of old 500 and 1000-rupee notes, on Wednesday amid expectations of interest rate cut.
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PM Narendra Modi's Notes Ban Neither Intelligent Nor Humane: Amartya Sen To NDTV
"Despotic and authoritarian" is how Nobel Laureate and Bharat Ratna Amartya Sen describes the decision to abruptly ban 500- and 1000-rupee notes.
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Opening A Bank Account In Rural India: A Reality Check
A fortnight after announcing its bold move to ban old 500 and 1000-rupee notes as part of its battle against black or unaccounted money, the government on Friday said that the barred currency can no longer be exchanged and must be deposited in banks.
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For Overstretched Bank Staff, End Of Currency Exchange Comes As A Relief
These notes can now be exchanged from the counters of the Reserve Bank of India alone, or can be deposited in banks.
-
PM Modi's Cash Ban Is Bonanza For These Struggling Companies
Electricity consumers who hadn't paid their bills for months are queuing up to square their accounts as the old bills can still be used to pay charges until Nov. 24.
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What Next For Cancelled Notes? Landfill, Paper Weights, Briquettes Are Options
Described as the world's most sweeping currency policy change in decades, the step has earned the government both admiration for its boldness and criticism for its execution.
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Cash Withdrawal For Marriage And Latest On Deposit, Exchange Of Notes
The RBI in its latest update has said that banks have exchanged and got deposits of nearly 5.5 lakh crore in scrapped notes of Rs 500/1,000 denomination. Banks also disbursed Rs 1.03 lakh crore via ATMS and over the counter between November 10 and November 18, the RBI said.
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Foreign Media On India's Cash Chaos, Why This Clampdown Is Different
PM Modi's decision rattled the world's second-most populous nation, where cash dominates day-to-day life.
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99.3 Per Cent Of Demonetised Notes Returned To Banks: RBI
As much as 99.3 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, the RBI said today, indicating that just a miniscule percentage of currency was left out of the system after the government's unprecedented note ban aimed at curbing black money and corruption.
-
Summoned To Explain Notes Ban, Here's What RBI Governor Urjit Patel Said
Urjit Patel, the Governor of the Reserve Bank of India, today told a parliamentary committee that since the notes ban was introduced in November, 9.2 lakh crores (about $135 billion dollars) of new currency notes have been introduced to help replace the bills that were abolished. He also established that "The proposal to ban Rs 500- and 1000-rupee ...
-
Won't Interfere, Says Arun Jaitley After Complaints Of RBI Refusing Old Notes
Clarifying the government's stand on the December 30 deadline for the deposit of banned 500 and 1000-rupee notes, Finance Minister Arun Jaitley said Prime Minister Narendra Modi had specifically said that the central bank RBI will fix "terms and conditions" for the same.
-
PM Narendra Modi's 5 Key Announcements In New Year Eve Address To Nation
Thanking people for their support and cooperation to his demonetisation drive, Prime Minister Narendra Modi today made a series of announcements reiterating his government's focus on the welfare of farmers and the poor. He was making a televised address to the nation on new year's eve and said he was grateful for the patience that people had shown ...
-
Hyderabad Businessman Arrested For 98 Crores 'Black Money' Deposits In Banks
A city-based businessman was arrested on Wednesday for allegedly cheating and generating 'fake and fictitious' advance payment receipts to deposit "black money" to the tune of Rs 98 crore in banks following the ban of 500 and 1000-rupee notes last month.
-
Why Not Deposit All In One Go, Says Finance Minister Arun Jaitley, On New Rs 5,000 Rule
After tightening rules for depositing old 500 and 1000-rupee notes, Finance Minister Arun Jaitley said on Monday evening that no questions will be asked if any amount of scrapped currency is deposited in one go but repeated deposits may raise queries.
-
Petrol, Diesel Cheaper If You Pay By Card, Says Finance Minister Arun Jaitley: Highlights
It's been a month since the government banned old 500 and 1000-rupee notes as part of its fight against unaccounted or black money. Finance Minister Arun Jaitley today announced 11 measures that the government has taken to expedite the digital switchover, including a 0.75 per cent discount for those who purchase petrol or diesel through digital pay...
-
Reserve Bank To Announce Monetary Policy Decision On December 7, 1st Since Notes Ban
The Reserve Bank will come out with monetary policy review, the first after demonetisation of old 500 and 1000-rupee notes, on Wednesday amid expectations of interest rate cut.
-
PM Narendra Modi's Notes Ban Neither Intelligent Nor Humane: Amartya Sen To NDTV
"Despotic and authoritarian" is how Nobel Laureate and Bharat Ratna Amartya Sen describes the decision to abruptly ban 500- and 1000-rupee notes.
-
Opening A Bank Account In Rural India: A Reality Check
A fortnight after announcing its bold move to ban old 500 and 1000-rupee notes as part of its battle against black or unaccounted money, the government on Friday said that the barred currency can no longer be exchanged and must be deposited in banks.
-
For Overstretched Bank Staff, End Of Currency Exchange Comes As A Relief
These notes can now be exchanged from the counters of the Reserve Bank of India alone, or can be deposited in banks.
-
PM Modi's Cash Ban Is Bonanza For These Struggling Companies
Electricity consumers who hadn't paid their bills for months are queuing up to square their accounts as the old bills can still be used to pay charges until Nov. 24.
-
What Next For Cancelled Notes? Landfill, Paper Weights, Briquettes Are Options
Described as the world's most sweeping currency policy change in decades, the step has earned the government both admiration for its boldness and criticism for its execution.
-
Cash Withdrawal For Marriage And Latest On Deposit, Exchange Of Notes
The RBI in its latest update has said that banks have exchanged and got deposits of nearly 5.5 lakh crore in scrapped notes of Rs 500/1,000 denomination. Banks also disbursed Rs 1.03 lakh crore via ATMS and over the counter between November 10 and November 18, the RBI said.
-
Foreign Media On India's Cash Chaos, Why This Clampdown Is Different
PM Modi's decision rattled the world's second-most populous nation, where cash dominates day-to-day life.
