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2 Years After Demonetisation, Some Hits And Many Misses: Report
As the dust settles on the demonetisation episode, the data show it didn't weed out black money or cash gained through illegal means, which was a key objective of Prime Minister Narendra Modi's plan. On the plus side, there's been some widening in the country's dismal tax base, an increase in digital payments and a drop in fake notes.
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Possession Of More Than 10 Junked Notes Will Now Attract Fine
Holding of more than 10 notes of the junked Rs 500 and Rs 1,000 currency is now illegal, with a new law coming into effect after the President's assent.
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Cooperative Banks' Records Seriously Distorted After Notes Ban: Tax Officials
In an analysis report prepared by the I-T department, two specific instances in Mumbai and Pune have been reported where it was found that over Rs 113 crore "excess amount" of old demonetised notes was reported by two banks to the banking regulator in order to generate black funds.
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Last Day To Deposit Old Rs 500 And Rs 1000 Notes Before Steep Fines Kick In: 10 Facts
Fifty days after the government banned most of the cash in circulation without warning, the deadline to deposit outlawed 500 and 1,000-rupee notes ends today. From tomorrow, it will be illegal to have old notes barring exceptions. The cash crunch and queues at ATMs may continue because of the huge demand for new bills. Prime Minister Narendra Modi ...
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60 Lakh Depositors Put Rs 7 Lakh Crore In Banks Since November 8: Report
Top officials said that while the government will not hound any genuine depositor, it will not hesitate to litigate at any forum to catch any black money holder trying to convert illegal wealth into white.
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$184 Billion, 80 Per Cent Of Total Old Notes, Back In Banks, Says RBI
Banks have received 12.44 lakh crores or $184.24 billion in old 500 and 1,000-rupee notes till December 10, since the currency ban, the Reserve Bank of India said today. It also said that banks have so far issued 4.61 lakh crores in new currency to people over the counter and through ATMs. Prime Minister Narendra Modi had on November 8 announced th...
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Government Promotes Digital Transactions To Encourage Cashless Economy
Prime Minister Narendra Modi scrapped Rs 500 and Rs 1,000 banknotes on November 8 in a bid to flush out cash earned through illegal activities, or earned legally but never disclosed.
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New Rs 500 And Rs 2,000 Notes 'Illegal' In Nepal
While there is no clarity on the fate of the withdrawn Indian currency notes of Rs 500 and Rs 1,000 denominations in Nepal, new Indian Rs 500 and Rs 2,000 bank notes are deemed illegal and banned for exchange, Nepal's central bank said on Thursday.
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15 Questions Tax Officials Want Answered On Janardhan Reddy's Giant Wedding Party
Five days after the extravagant wedding of Karnataka politician and mining tycoon Gali Janardhan Reddy's daughter in Bengaluru, the Income Tax department is searching the vendors involved in it.
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Demonetisation Move Demonic And Has Led To Financial Anarchy: Shiv Sena
Despite Prime Minister Narendra Modi's emotional appeal to people to cooperate with him to eradicate illegal money, BJP's ally in the Maharashtra government Shiv Sena today described the demonetisation as "demonic and unsystematic" that has led to "financial anarchy" in the country.
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Currency Ban: Government Looking Into Sudden Spurt In Jan Dhan Account Deposits
Government is looking into sudden 'propping up' of money into zero-balance Jan Dhan accounts, after an unprecedented Rs 2 lakh crore of cash flooded the banking system within just two days of demonetisation of high value currency.
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Government Launches Raids Against Money Launderers, Jewellers, Hawala Dealers
On a day banks reopened and long lines could be seen at all branches across the country, illegal money changers sprang up offering to convert old 500 and 1000 rupee notes for smaller denominations. NDTV spoke to one such operator on condition of anonymity, in Sadar Bazar - Delhi's wholesale market where traditionally high volume trade is done in ca...
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As ATMs Run Dry, Government Considers Relaxing Operating Procedure Of Cash Vans
With cash running out fast at most ATMs across the country, the Home Ministry has asked states to provide extra protection to cash carrying vans - mostly private owned - which transport money to banks and ATMs. The advisory by the Centre comes three days after 500 and 1000-rupee notes were demonitised by the government in a move to curb black or il...
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67 Forex Dealers Swapping Old Rs 500, 1,000 Notes Under Watch
Widening the probe into illegal money changers, the Enforcement Directorate is keeping track of as many as 67 forex dealers across the country to look into foreign exchange violations and money laundering after the government scrapped old 500 and 1,000 rupee notes.
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Man Held With Scrapped Bank Notes Worth Over Rs 44 Lakhs In Raipur
Police today seized unaccounted cash worth Rs 44.25 lakhs in now-defunct Rs 500 and Rs 1,000 denomination notes from a man, who is allegedly involved in trade of fake currency and illicit drugs in insurgency-hit Kondagaon district.
-
2 Years After Demonetisation, Some Hits And Many Misses: Report
As the dust settles on the demonetisation episode, the data show it didn't weed out black money or cash gained through illegal means, which was a key objective of Prime Minister Narendra Modi's plan. On the plus side, there's been some widening in the country's dismal tax base, an increase in digital payments and a drop in fake notes.
-
Possession Of More Than 10 Junked Notes Will Now Attract Fine
Holding of more than 10 notes of the junked Rs 500 and Rs 1,000 currency is now illegal, with a new law coming into effect after the President's assent.
-
Cooperative Banks' Records Seriously Distorted After Notes Ban: Tax Officials
In an analysis report prepared by the I-T department, two specific instances in Mumbai and Pune have been reported where it was found that over Rs 113 crore "excess amount" of old demonetised notes was reported by two banks to the banking regulator in order to generate black funds.
-
Last Day To Deposit Old Rs 500 And Rs 1000 Notes Before Steep Fines Kick In: 10 Facts
Fifty days after the government banned most of the cash in circulation without warning, the deadline to deposit outlawed 500 and 1,000-rupee notes ends today. From tomorrow, it will be illegal to have old notes barring exceptions. The cash crunch and queues at ATMs may continue because of the huge demand for new bills. Prime Minister Narendra Modi ...
-
60 Lakh Depositors Put Rs 7 Lakh Crore In Banks Since November 8: Report
Top officials said that while the government will not hound any genuine depositor, it will not hesitate to litigate at any forum to catch any black money holder trying to convert illegal wealth into white.
-
$184 Billion, 80 Per Cent Of Total Old Notes, Back In Banks, Says RBI
Banks have received 12.44 lakh crores or $184.24 billion in old 500 and 1,000-rupee notes till December 10, since the currency ban, the Reserve Bank of India said today. It also said that banks have so far issued 4.61 lakh crores in new currency to people over the counter and through ATMs. Prime Minister Narendra Modi had on November 8 announced th...
-
Government Promotes Digital Transactions To Encourage Cashless Economy
Prime Minister Narendra Modi scrapped Rs 500 and Rs 1,000 banknotes on November 8 in a bid to flush out cash earned through illegal activities, or earned legally but never disclosed.
-
New Rs 500 And Rs 2,000 Notes 'Illegal' In Nepal
While there is no clarity on the fate of the withdrawn Indian currency notes of Rs 500 and Rs 1,000 denominations in Nepal, new Indian Rs 500 and Rs 2,000 bank notes are deemed illegal and banned for exchange, Nepal's central bank said on Thursday.
-
15 Questions Tax Officials Want Answered On Janardhan Reddy's Giant Wedding Party
Five days after the extravagant wedding of Karnataka politician and mining tycoon Gali Janardhan Reddy's daughter in Bengaluru, the Income Tax department is searching the vendors involved in it.
-
Demonetisation Move Demonic And Has Led To Financial Anarchy: Shiv Sena
Despite Prime Minister Narendra Modi's emotional appeal to people to cooperate with him to eradicate illegal money, BJP's ally in the Maharashtra government Shiv Sena today described the demonetisation as "demonic and unsystematic" that has led to "financial anarchy" in the country.
-
Currency Ban: Government Looking Into Sudden Spurt In Jan Dhan Account Deposits
Government is looking into sudden 'propping up' of money into zero-balance Jan Dhan accounts, after an unprecedented Rs 2 lakh crore of cash flooded the banking system within just two days of demonetisation of high value currency.
-
Government Launches Raids Against Money Launderers, Jewellers, Hawala Dealers
On a day banks reopened and long lines could be seen at all branches across the country, illegal money changers sprang up offering to convert old 500 and 1000 rupee notes for smaller denominations. NDTV spoke to one such operator on condition of anonymity, in Sadar Bazar - Delhi's wholesale market where traditionally high volume trade is done in ca...
-
As ATMs Run Dry, Government Considers Relaxing Operating Procedure Of Cash Vans
With cash running out fast at most ATMs across the country, the Home Ministry has asked states to provide extra protection to cash carrying vans - mostly private owned - which transport money to banks and ATMs. The advisory by the Centre comes three days after 500 and 1000-rupee notes were demonitised by the government in a move to curb black or il...
-
67 Forex Dealers Swapping Old Rs 500, 1,000 Notes Under Watch
Widening the probe into illegal money changers, the Enforcement Directorate is keeping track of as many as 67 forex dealers across the country to look into foreign exchange violations and money laundering after the government scrapped old 500 and 1,000 rupee notes.
-
Man Held With Scrapped Bank Notes Worth Over Rs 44 Lakhs In Raipur
Police today seized unaccounted cash worth Rs 44.25 lakhs in now-defunct Rs 500 and Rs 1,000 denomination notes from a man, who is allegedly involved in trade of fake currency and illicit drugs in insurgency-hit Kondagaon district.
