Cash Free Economy

Leading private bank HDFC has announced savings account customers will have to pay a Rs 150 charge for cash deposits or withdrawals in excess of four free transactions at bank branches. The development puts the HDFC's charges for transactions at par with its two competitors - ICICI and Axis banks - that had also suspended charges to be paid for cus...

Tata Sons Chairman Ratan Tata today hailed the government's move to demonetise high-value currency notes as a bold act and it will eliminate black money and corruption.

Reserve Bank of India Governor Raghuram Rajan said on Tuesday that he had doubts "helicopter money", or free cash given directly to citizens to stimulate growth, would be successful if adopted by developed world policymakers.

Interest rates on retail loans are unlikely to go down despite the Reserve Bank's decision to cut cash reserve ratio today. CRR is the amount of deposits that lenders must keep with the central bank. The RBI cut the cash reserve ratio by 25 basis points (0.25 per cent) to 4.25 per cent freeing up about Rs 17,500 crore into the banking system.

Leading private bank HDFC has announced savings account customers will have to pay a Rs 150 charge for cash deposits or withdrawals in excess of four free transactions at bank branches. The development puts the HDFC's charges for transactions at par with its two competitors - ICICI and Axis banks - that had also suspended charges to be paid for cus...

Tata Sons Chairman Ratan Tata today hailed the government's move to demonetise high-value currency notes as a bold act and it will eliminate black money and corruption.

Reserve Bank of India Governor Raghuram Rajan said on Tuesday that he had doubts "helicopter money", or free cash given directly to citizens to stimulate growth, would be successful if adopted by developed world policymakers.

Interest rates on retail loans are unlikely to go down despite the Reserve Bank's decision to cut cash reserve ratio today. CRR is the amount of deposits that lenders must keep with the central bank. The RBI cut the cash reserve ratio by 25 basis points (0.25 per cent) to 4.25 per cent freeing up about Rs 17,500 crore into the banking system.