Demonitised Currency

Currency with the public has jumped to a new high of Rs 30.88 lakh crore as of October 21, illustrating that cash usage is still robust even six years after the demonetisation move.

The government today said demonetisation of high-value currency notes in November 2016 achieved the objectives "quite substantially", even as the RBI report outlined that 99.3 per cent of junked notes came back to banks.

A former sugar mill manager allegedly shot himself after being pressured by a retired IAS officer to get demonetised currency notes worth Rs 10 crore exchanged in a village in Shamli district, police said today.

The Crime Branch personnel seized Rs 1.68 crore in old notes in Rs 500 and Rs 1,000 denominations from the accused

The returned Rs 500 and Rs 1,000 bills are being "processed in all earnest," the apex bank said.

The RBI in its annual report yesterday said banks received Rs 15.28 lakh crore, or 99 per cent of the currency invalidated.

The Reserve Bank had received the last tranche of scrapped currency notes of Rs 500 and Rs 1,000 in July.

The Congress took a swipe at the government for the central bank still counting currency notes banned last year, with Rahul Gandhi suggesting that the government needed lessons in mathematics. Former Finance Minister P Chidambaram too wondered why the bank wanted to buy more currency counting machines when it could lease them.

The government today informed Parliament that it is not considering any proposal to introduce Rs 21 and 51 currency notes.

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.

Economic Affairs Secretary Shaktikanta Das had last month said that the government has no plans to re-introduce 1,000 rupee notes.

Rajiv Bajaj, Managing Director, Bajaj Auto India criticised the idea of demonetisation in India saying that the idea itself was 'wrong'. He also mentioned that it was incorrect to blame only the execution. The ban on 86% of the total currency worth Rs. 15.55 trillion in circulation impacted economic activity across sectors with the consumption-driv...

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.

Three persons have been detained in Ghaziabad on Thursday with scrapped currency notes of Rs 500 and Rs 1,000 worth 31.65 lakh rupees, the city police said.

A day after Prime Minister Narendra Modi appealed to banks to make loans easily available to "the poor, lower middle class and the middle class," three public sector banks lowered their lending rates.

Currency with the public has jumped to a new high of Rs 30.88 lakh crore as of October 21, illustrating that cash usage is still robust even six years after the demonetisation move.

The government today said demonetisation of high-value currency notes in November 2016 achieved the objectives "quite substantially", even as the RBI report outlined that 99.3 per cent of junked notes came back to banks.

A former sugar mill manager allegedly shot himself after being pressured by a retired IAS officer to get demonetised currency notes worth Rs 10 crore exchanged in a village in Shamli district, police said today.

The Crime Branch personnel seized Rs 1.68 crore in old notes in Rs 500 and Rs 1,000 denominations from the accused

The returned Rs 500 and Rs 1,000 bills are being "processed in all earnest," the apex bank said.

The RBI in its annual report yesterday said banks received Rs 15.28 lakh crore, or 99 per cent of the currency invalidated.

The Reserve Bank had received the last tranche of scrapped currency notes of Rs 500 and Rs 1,000 in July.

The Congress took a swipe at the government for the central bank still counting currency notes banned last year, with Rahul Gandhi suggesting that the government needed lessons in mathematics. Former Finance Minister P Chidambaram too wondered why the bank wanted to buy more currency counting machines when it could lease them.

The government today informed Parliament that it is not considering any proposal to introduce Rs 21 and 51 currency notes.

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.

Economic Affairs Secretary Shaktikanta Das had last month said that the government has no plans to re-introduce 1,000 rupee notes.

Rajiv Bajaj, Managing Director, Bajaj Auto India criticised the idea of demonetisation in India saying that the idea itself was 'wrong'. He also mentioned that it was incorrect to blame only the execution. The ban on 86% of the total currency worth Rs. 15.55 trillion in circulation impacted economic activity across sectors with the consumption-driv...

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.

Three persons have been detained in Ghaziabad on Thursday with scrapped currency notes of Rs 500 and Rs 1,000 worth 31.65 lakh rupees, the city police said.

A day after Prime Minister Narendra Modi appealed to banks to make loans easily available to "the poor, lower middle class and the middle class," three public sector banks lowered their lending rates.