Demonetisation Of 1000 Rupee Notes

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.

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.

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.

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.

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-...

Ahead of the budget session of parliament, Union finance minister Arun Jaitley has attacked Rahul Gandhi, saying he is interested only in disrupting parliament. In a Facebook post today on the ban on 500 and 1000 rupee notes announced on November 8, Mr Jaitley also used Mr Gandhi's example to draw a parallel with Prime Minister Narendra Modi and wh...

The next real test of the cash shortage fallout will be held through the five assembly elections, including most populous state Uttar Pradesh, expected by April.

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 ...

The decision to withdraw the legal tender character of the 500 and 1000 rupee notes to the central government was taken at 5:30 p.m. on Nov. 8 at a board meeting, the RBI said in its responses.

Frequent changes to the rules governing demonetisation is a sign of a responsive government - this is how Prime Minister Narendra Modi on Sunday responded to critics who have questioned the often-changing rules about the government's abrupt decision to scrap old 500 and 1,000-rupee notes to combat corruption and black money.

At a meeting of BJP lawmakers this morning, Prime Minister Narendra Modi made a strong pitch for a digital economy as a way of life and accused the opposition of being against the government's war of corruption. Union minister Ananth Kumar said after the meeting that PM Modi also exhorted the BJP to continue putting the nation before party, critici...

The government is now focusing on printing 500 rupee notes, Economic Affairs Secretary Shaktikanta Das said on Thursday, hours before a deadline for using old 500 and 1000 rupee notes at petrol pumps and some other facilities ended. From midnight to December 30, old notes can only be deposited in banks. Prime Minister Narendra Modi had on November ...

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.

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.

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.

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.

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-...

Ahead of the budget session of parliament, Union finance minister Arun Jaitley has attacked Rahul Gandhi, saying he is interested only in disrupting parliament. In a Facebook post today on the ban on 500 and 1000 rupee notes announced on November 8, Mr Jaitley also used Mr Gandhi's example to draw a parallel with Prime Minister Narendra Modi and wh...

The next real test of the cash shortage fallout will be held through the five assembly elections, including most populous state Uttar Pradesh, expected by April.

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 ...

The decision to withdraw the legal tender character of the 500 and 1000 rupee notes to the central government was taken at 5:30 p.m. on Nov. 8 at a board meeting, the RBI said in its responses.

Frequent changes to the rules governing demonetisation is a sign of a responsive government - this is how Prime Minister Narendra Modi on Sunday responded to critics who have questioned the often-changing rules about the government's abrupt decision to scrap old 500 and 1,000-rupee notes to combat corruption and black money.

At a meeting of BJP lawmakers this morning, Prime Minister Narendra Modi made a strong pitch for a digital economy as a way of life and accused the opposition of being against the government's war of corruption. Union minister Ananth Kumar said after the meeting that PM Modi also exhorted the BJP to continue putting the nation before party, critici...

The government is now focusing on printing 500 rupee notes, Economic Affairs Secretary Shaktikanta Das said on Thursday, hours before a deadline for using old 500 and 1000 rupee notes at petrol pumps and some other facilities ended. From midnight to December 30, old notes can only be deposited in banks. Prime Minister Narendra Modi had on November ...