Notes Ban Panel

The National Commission for Women (NCW) on Wednesday took cognisance of Delhi's Jama Masjid putting up notices outside its main gates banning the entry of 'girls', whether alone or in groups.

The RBI Governor appeared before the panel days after the central bank's face-off with the finance ministry.

A parliamentary panel today sought to know from finance ministry officials if the objectives of note ban could have been achieved by other means, and also decided to call representatives of union ministries and states to assess the impact of demonetisation, sources said.

Unfazed by the November 8 protest call by the Congress on the first anniversary of demonetisation, Prime Minister Narendra Modi today said burning effigies will not deter him from carrying forward the fight against corruption and black money.

The parliamentary panel on finance is likely to finalise its report on demonetisation of high value currency notes tomorrow, sources said.

Reserve Bank of India Governor Urjit Patel today told a parliamentary panel that old notes deposited after demonetisation are still being counted by a special team working round the clock, with people getting no off-days except a Sunday, sources said today.

The panel wants to know from the RBI governor as well as the finance ministry officials the number of junked currency that was deposited in bank accounts post November 8, 2016 decision to demonetise higher denomination notes.

The Reserve Bank of India will soon issue Rs 10 denomination notes with enhanced security features for circulation. The RBI today said the banknotes in the Mahatma Gandhi series-2005 are to carry inset letter 'L' on both number panels, bearing the signature of Governor Urjit Patel.

Countering the charge that notes ban had slowed down India's economic growth, BJP's NK Singh, who also heads the centre's Fiscal Responsibility and Budget Management Review Panel, said: "Distinguished economists owe an explanation for having traumatised the nation falsely on the likely negative impact of demonetisation".

Black money worth Rs 70,000 crore has been unearthed through different schemes of the government, said Deputy Chairman of the Supreme Court-appointed SIT on black money, Justice Arijit Pasayat today. The sixth report on it will be submitted to the Supreme Court in April.

The Reserve Bank of India will lower the repurchase rate to 6 percent from 6.25 percent, according to 34 of 39 economists in a Bloomberg survey.

Finance Minister Arun Jaitley is likely to borrow more than originally planned when he presents the budget on February 1, senior aides and officials said, despite counting on revenues from a national sales tax whose launch date is still unknown.

A cash transaction tax on withdrawals of Rs 50,000 and above in banks as well as a Rs 1,000 subsidy for purchase of smartphones by non-tax assesses and small merchants have been recommended by a Chief Ministers' panel today to encourage digital payments.

The Committee of Chief Ministers on demonetisation, headed by Andhra Pradesh's N Chandrababu Naidu, constituted to prepare a roadmap for transition to digital economy will submit its interim report to Prime Minister Narendra Modi in New Delhi tomorrow.

Urjit Patel, the chief of the Reserve Bank of India, confronted questions from a parliamentary committee on the sudden ban on 500 and 1,000 rupee notes in November and said the cash situation would return to normal soon. Millions were left facing a severe crunch after 86 per cent of the cash in circulation was outlawed overnight in a massive anti-c...

The National Commission for Women (NCW) on Wednesday took cognisance of Delhi's Jama Masjid putting up notices outside its main gates banning the entry of 'girls', whether alone or in groups.

The RBI Governor appeared before the panel days after the central bank's face-off with the finance ministry.

A parliamentary panel today sought to know from finance ministry officials if the objectives of note ban could have been achieved by other means, and also decided to call representatives of union ministries and states to assess the impact of demonetisation, sources said.

Unfazed by the November 8 protest call by the Congress on the first anniversary of demonetisation, Prime Minister Narendra Modi today said burning effigies will not deter him from carrying forward the fight against corruption and black money.

The parliamentary panel on finance is likely to finalise its report on demonetisation of high value currency notes tomorrow, sources said.

Reserve Bank of India Governor Urjit Patel today told a parliamentary panel that old notes deposited after demonetisation are still being counted by a special team working round the clock, with people getting no off-days except a Sunday, sources said today.

The panel wants to know from the RBI governor as well as the finance ministry officials the number of junked currency that was deposited in bank accounts post November 8, 2016 decision to demonetise higher denomination notes.

The Reserve Bank of India will soon issue Rs 10 denomination notes with enhanced security features for circulation. The RBI today said the banknotes in the Mahatma Gandhi series-2005 are to carry inset letter 'L' on both number panels, bearing the signature of Governor Urjit Patel.

Countering the charge that notes ban had slowed down India's economic growth, BJP's NK Singh, who also heads the centre's Fiscal Responsibility and Budget Management Review Panel, said: "Distinguished economists owe an explanation for having traumatised the nation falsely on the likely negative impact of demonetisation".

Black money worth Rs 70,000 crore has been unearthed through different schemes of the government, said Deputy Chairman of the Supreme Court-appointed SIT on black money, Justice Arijit Pasayat today. The sixth report on it will be submitted to the Supreme Court in April.

The Reserve Bank of India will lower the repurchase rate to 6 percent from 6.25 percent, according to 34 of 39 economists in a Bloomberg survey.

Finance Minister Arun Jaitley is likely to borrow more than originally planned when he presents the budget on February 1, senior aides and officials said, despite counting on revenues from a national sales tax whose launch date is still unknown.

A cash transaction tax on withdrawals of Rs 50,000 and above in banks as well as a Rs 1,000 subsidy for purchase of smartphones by non-tax assesses and small merchants have been recommended by a Chief Ministers' panel today to encourage digital payments.

The Committee of Chief Ministers on demonetisation, headed by Andhra Pradesh's N Chandrababu Naidu, constituted to prepare a roadmap for transition to digital economy will submit its interim report to Prime Minister Narendra Modi in New Delhi tomorrow.

Urjit Patel, the chief of the Reserve Bank of India, confronted questions from a parliamentary committee on the sudden ban on 500 and 1,000 rupee notes in November and said the cash situation would return to normal soon. Millions were left facing a severe crunch after 86 per cent of the cash in circulation was outlawed overnight in a massive anti-c...