Demonitisation Move

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...

While the CPM-led government in Kerala has been protesting against the impact of the centre's notes ban move, a district in the state is making huge progress in training locals about digital transactions to counter the cash crunch.

It has been more than three weeks since India abruptly declared high-denomination currency bills to be invalid in its fight against corruption and counterfeit money, but the panic and desperation that the move generated have not abated.

The RBI's move will put further downward pressure on bank's fixed deposit rates, says global financial services major Deutsche Bank.

Prime Minister Narendra Modi's move to ban Rs 500 and Rs 1,000 notes has several supporters and also critics. The move is all the buzz on social media. Twitter user Sanjay Sipahimalani has thought of a new, funny way of describing the notes ban - and its side-effects.

In the wake of certain restrictions on money exchange norms by the government, chaos and rush at banks eased but the situation did not quite improve at ATMs as people were still seen waiting in long queues to withdraw valid currency notes.

Opposition Congress and NCP today demanded the sacking of Maharashtra Cooperative Minister Subhash Deshmukh amid reports of seizure of Rs 91 lakh from vehicle belonging to the minister.

After Parliament was disrupted over demonetisation, the Government today accused the opposition of finding excuses to scuttle a debate on the issue as it was boomeranging and going against them.

Delhi Chief Minister Arvind Kejriwal's visit to Gujarat has been postponed as he addressed a joint rally in Delhi with West Bengal Chief Minister Mamata Banerjee today, Aam Aadmi Party said here.

Before the announcement earlier this week, Paytm charged 1 percent fee from all KYC-compliant users and 4 percent from non-KYC compliant users.

Seeking to dispel rumours making the rounds, the government today said there is no intention to demonetise Rs 100 and Rs 50 notes.

An unusual trend has started at temples across the country ever since Prime Minister Narendra Modi announced the banning of Rs 500 and 1000 notes a week ago. Donation boxes at temples are now filled with high value currency - a trend never seen before.

A cash-carrying van was today attacked in Assam killing the driver and three more deaths due to apparent stress were reported as people failed to get any respite from chaotic scenes outside ATMs and banks eight days after demonetisation and struggled to secure valid currency.

A paediatrician was detained on Wednesday for allegedly possessing around Rs 70 lakhs in Rs 100 denominations in central Delhi's Paharganj area, police said.

Janata Dal (United) president Sharad Yadav on Wednesday said the government's decision to demonetise high denomination notes has hit the honest people the most and that the government would not be able to bring black money back in the next 10 years.

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...

While the CPM-led government in Kerala has been protesting against the impact of the centre's notes ban move, a district in the state is making huge progress in training locals about digital transactions to counter the cash crunch.

It has been more than three weeks since India abruptly declared high-denomination currency bills to be invalid in its fight against corruption and counterfeit money, but the panic and desperation that the move generated have not abated.

The RBI's move will put further downward pressure on bank's fixed deposit rates, says global financial services major Deutsche Bank.

Prime Minister Narendra Modi's move to ban Rs 500 and Rs 1,000 notes has several supporters and also critics. The move is all the buzz on social media. Twitter user Sanjay Sipahimalani has thought of a new, funny way of describing the notes ban - and its side-effects.

In the wake of certain restrictions on money exchange norms by the government, chaos and rush at banks eased but the situation did not quite improve at ATMs as people were still seen waiting in long queues to withdraw valid currency notes.

Opposition Congress and NCP today demanded the sacking of Maharashtra Cooperative Minister Subhash Deshmukh amid reports of seizure of Rs 91 lakh from vehicle belonging to the minister.

After Parliament was disrupted over demonetisation, the Government today accused the opposition of finding excuses to scuttle a debate on the issue as it was boomeranging and going against them.

Delhi Chief Minister Arvind Kejriwal's visit to Gujarat has been postponed as he addressed a joint rally in Delhi with West Bengal Chief Minister Mamata Banerjee today, Aam Aadmi Party said here.

Before the announcement earlier this week, Paytm charged 1 percent fee from all KYC-compliant users and 4 percent from non-KYC compliant users.

Seeking to dispel rumours making the rounds, the government today said there is no intention to demonetise Rs 100 and Rs 50 notes.

An unusual trend has started at temples across the country ever since Prime Minister Narendra Modi announced the banning of Rs 500 and 1000 notes a week ago. Donation boxes at temples are now filled with high value currency - a trend never seen before.

A cash-carrying van was today attacked in Assam killing the driver and three more deaths due to apparent stress were reported as people failed to get any respite from chaotic scenes outside ATMs and banks eight days after demonetisation and struggled to secure valid currency.

A paediatrician was detained on Wednesday for allegedly possessing around Rs 70 lakhs in Rs 100 denominations in central Delhi's Paharganj area, police said.

Janata Dal (United) president Sharad Yadav on Wednesday said the government's decision to demonetise high denomination notes has hit the honest people the most and that the government would not be able to bring black money back in the next 10 years.