Currency Ban Effect In India
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Government Will Explore Blockchain for Digital Economy, Union Minister Says About India's Own Cryptocurrency
The government will explore the use of blockchain technology for digital economy, Minister of State for Finance Anurag Singh Thakur said on Tuesday. The latest comments come just days after the government listed a bill titled “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021” that is to provide a framework for creation ...
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Supreme Court Lifts RBI Ban On Trading In Cryptocurrency: 10 Points
The Supreme Court on Wednesday allowed dealing in cryptocurrency, quashing an earlier ban imposed by the Reserve Bank of India (RBI) on trading in virtual currencies such as Bitcoin. The development came as a major relief for the sector, as the RBI ban restricted lenders from facilitating banking transactions for cryptocurrency exchanges and trader...
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Real Effective Depreciation Of 6-7% In Rupee, Says IMF
Rupee Vs US Dollar: Economy is recovering from two transitory disruptions - Goods and Services Tax and notes ban, says IMF spokesperson Gerry Rice.
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'Night We Can Never Forget': Jewellers Recall 8 November, 2016
For jewelers in the world's second-largest gold market, business is yet to recover from the slump that followed India's decision to ban high-value currency notes a year ago.
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Notes Ban No Ground For Banking Ombudsman To Handle Complaints: RBI
During the demonetisation period, people had to face various problems in form of restrictions on withdrawal of currency notes and exchanging of old Rs 500 and Rs 1,000 notes that were withdrawn with immediate effect from midnight of November 8, 2016.
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Overnight Queues At RBI Offices As Note Exchange Deadline Nears
People are leaving nothing to chance and lining up at the RBI office in the national capital from the night itself so that they get to deposit the currency next day.
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Banned Notes: Holders Of Overseas Indian Citizen Cards Express Concern
Many PIOs or persons of Indian Origin and OCIs or Overseas Citizens of India were under the impression that they could exchange their old currency until the end of March. But they were in for a shock when they realised that only NRIs were allowed to do so.
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Minimum 10,000 Fine For Possession Of More Than 10 Banned Notes: 10 Updates
An ordinance or executive order was sent by the government today to President Pranab Mukherjee, which makes it a punishable offence to possess more than 10 banned notes of Rs 500 and Rs 1000. Any violation will be punished with a steep fine. Once signed off by the President, the new rule will come into effect from December 31. The 500- and 1,000-ru...
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3 Arrested For Cheating Man Of 16 Lakh In Banned Notes In Delhi
Three people have been arrested for duping a Kolkata-based businessman of Rs 16 lakh on the pretext of getting his demonetised currency exchanged from a private bank in Delhi.
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After Notes Ban, New Law Against 'Benami' Properties Soon, Says PM Narendra Modi
In his last 'Mann Ki Baat' address this year, Prime Minister Narendra Modi said his government will soon bring in a strong law to effectively deal with 'benami' or proxy-owned properties. "This is just the beginning of our fight," he said, asserting that there is no going back on the fight against corruption and black money after the notes ban.
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Protests At RBI Office In Kolkata Against Notes Ban
The Trinamool Congress and Left parties held separate protests outside the Reserve Bank of India office in Kolkata today as RBI Governor Urjit Patel held meetings inside.
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At Axis Bank Noida Branch, 20 Fake Accounts Found With Over 60 Crore Deposits Since Notes Ban
In raids at an Axis bank branch today, tax officials found fake accounts where over 60 crores had been deposited since the notes ban was announced last month.
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Note Ban To Have Minimal Negative Effect On Rising Deposits
Data on deposits/withdrawals/ cash exchanges show that the effective currency in circulation has fallen by 60 per cent between November 8 and December 8.
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Cash Worth Nearly 1.5 Crore Seized In Odisha's Sambalpur
In a major seizure, police have recovered cash worth Rs 1.43 crores in new and old currency notes from a car in Odisha's Sambalpur today.
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With Wages Unpaid, Bastar Labourers Stop Work At Construction Sites
In the Naxal stronghold of Chhattisgarh's Bastar, the tribal population working at construction sites has been struck hard by the currency ban.
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Government Will Explore Blockchain for Digital Economy, Union Minister Says About India's Own Cryptocurrency
The government will explore the use of blockchain technology for digital economy, Minister of State for Finance Anurag Singh Thakur said on Tuesday. The latest comments come just days after the government listed a bill titled “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021” that is to provide a framework for creation ...
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Supreme Court Lifts RBI Ban On Trading In Cryptocurrency: 10 Points
The Supreme Court on Wednesday allowed dealing in cryptocurrency, quashing an earlier ban imposed by the Reserve Bank of India (RBI) on trading in virtual currencies such as Bitcoin. The development came as a major relief for the sector, as the RBI ban restricted lenders from facilitating banking transactions for cryptocurrency exchanges and trader...
-
Real Effective Depreciation Of 6-7% In Rupee, Says IMF
Rupee Vs US Dollar: Economy is recovering from two transitory disruptions - Goods and Services Tax and notes ban, says IMF spokesperson Gerry Rice.
-
'Night We Can Never Forget': Jewellers Recall 8 November, 2016
For jewelers in the world's second-largest gold market, business is yet to recover from the slump that followed India's decision to ban high-value currency notes a year ago.
-
Notes Ban No Ground For Banking Ombudsman To Handle Complaints: RBI
During the demonetisation period, people had to face various problems in form of restrictions on withdrawal of currency notes and exchanging of old Rs 500 and Rs 1,000 notes that were withdrawn with immediate effect from midnight of November 8, 2016.
-
Overnight Queues At RBI Offices As Note Exchange Deadline Nears
People are leaving nothing to chance and lining up at the RBI office in the national capital from the night itself so that they get to deposit the currency next day.
-
Banned Notes: Holders Of Overseas Indian Citizen Cards Express Concern
Many PIOs or persons of Indian Origin and OCIs or Overseas Citizens of India were under the impression that they could exchange their old currency until the end of March. But they were in for a shock when they realised that only NRIs were allowed to do so.
-
Minimum 10,000 Fine For Possession Of More Than 10 Banned Notes: 10 Updates
An ordinance or executive order was sent by the government today to President Pranab Mukherjee, which makes it a punishable offence to possess more than 10 banned notes of Rs 500 and Rs 1000. Any violation will be punished with a steep fine. Once signed off by the President, the new rule will come into effect from December 31. The 500- and 1,000-ru...
-
3 Arrested For Cheating Man Of 16 Lakh In Banned Notes In Delhi
Three people have been arrested for duping a Kolkata-based businessman of Rs 16 lakh on the pretext of getting his demonetised currency exchanged from a private bank in Delhi.
-
After Notes Ban, New Law Against 'Benami' Properties Soon, Says PM Narendra Modi
In his last 'Mann Ki Baat' address this year, Prime Minister Narendra Modi said his government will soon bring in a strong law to effectively deal with 'benami' or proxy-owned properties. "This is just the beginning of our fight," he said, asserting that there is no going back on the fight against corruption and black money after the notes ban.
-
Protests At RBI Office In Kolkata Against Notes Ban
The Trinamool Congress and Left parties held separate protests outside the Reserve Bank of India office in Kolkata today as RBI Governor Urjit Patel held meetings inside.
-
At Axis Bank Noida Branch, 20 Fake Accounts Found With Over 60 Crore Deposits Since Notes Ban
In raids at an Axis bank branch today, tax officials found fake accounts where over 60 crores had been deposited since the notes ban was announced last month.
-
Note Ban To Have Minimal Negative Effect On Rising Deposits
Data on deposits/withdrawals/ cash exchanges show that the effective currency in circulation has fallen by 60 per cent between November 8 and December 8.
-
Cash Worth Nearly 1.5 Crore Seized In Odisha's Sambalpur
In a major seizure, police have recovered cash worth Rs 1.43 crores in new and old currency notes from a car in Odisha's Sambalpur today.
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With Wages Unpaid, Bastar Labourers Stop Work At Construction Sites
In the Naxal stronghold of Chhattisgarh's Bastar, the tribal population working at construction sites has been struck hard by the currency ban.
