Old 500 And 1000 Rupee Notes

The government had on November 8, 2016, announced ban on old 500 and 1000 rupee notes, to curb black money in the system.

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.

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 notified the law that makes holding of more than 10 scrapped notes punishable with a minimum fine of Rs 10,000.

Indians have deposited nearly all the currency bills outlawed at the end of the deadline last year, according to people with knowledge of the matter, dealing a blow to Prime Minister Narendra Modi's drive to unearth unaccounted wealth and fight corruption.

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 Pradhan Mantri Garib Kalyan Yojana provides last chance to holders of undisclosed income in the form of old 500 and 1,000 rupee notes to come clean.

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.

The old 500, 1000 rupee notes having gone out of circulation, a cooperative bank in Kerala's Kozhikode district has broken new grounds by launching its own digital app. The Thenipalam Co-operative Rural Bank, located in Thenipalam panchayat, has around 21,000 savings accounts and the app has been downloaded over 1,000 times in the last 20 days.

The government has in new restrictions said that deposits of more than 5,000 rupees in old 500 and 1,000-rupee notes can be made in a bank account only once from today till December 30, the deadline for depositing old notes. The Finance Ministry said any deposit of over Rs 5,000 will be subject to questioning by two bank officials, who have to be g...

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 ...

Multiple lockers of a Bank of Maharashtra branch in Pune were searched today by the Income Tax Department after a tip off that a private firm might have deposited nearly Rs 10 crores in them, both in new and old currency, post the November 8 announcement of the banning of old 500 and 1,000-rupee notes.

Old 500 rupee notes will not be accepted anywhere from Friday, the government has said. The notes can be deposited in banks till December 30.

The government is likely to amend the Reserve Bank of India Act to extinguish the validity of Rs 500 and Rs 1,000 printed before November 9 and a reference to this effect would be made in the upcoming Budget.

Income Tax officers have in a raid allegedly unearthed 44 fake accounts at a branch of Axis Bank in central Delhi's Chandni Chowk. Tax officials said about Rs 100 crore in old notes have been deposited in these accounts since November 8, when Prime Minister Narendra Modi banned 500 and 1000 rupee notes to combat black money and money laundering.

The government had on November 8, 2016, announced ban on old 500 and 1000 rupee notes, to curb black money in the system.

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.

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 notified the law that makes holding of more than 10 scrapped notes punishable with a minimum fine of Rs 10,000.

Indians have deposited nearly all the currency bills outlawed at the end of the deadline last year, according to people with knowledge of the matter, dealing a blow to Prime Minister Narendra Modi's drive to unearth unaccounted wealth and fight corruption.

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 Pradhan Mantri Garib Kalyan Yojana provides last chance to holders of undisclosed income in the form of old 500 and 1,000 rupee notes to come clean.

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.

The old 500, 1000 rupee notes having gone out of circulation, a cooperative bank in Kerala's Kozhikode district has broken new grounds by launching its own digital app. The Thenipalam Co-operative Rural Bank, located in Thenipalam panchayat, has around 21,000 savings accounts and the app has been downloaded over 1,000 times in the last 20 days.

The government has in new restrictions said that deposits of more than 5,000 rupees in old 500 and 1,000-rupee notes can be made in a bank account only once from today till December 30, the deadline for depositing old notes. The Finance Ministry said any deposit of over Rs 5,000 will be subject to questioning by two bank officials, who have to be g...

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 ...

Multiple lockers of a Bank of Maharashtra branch in Pune were searched today by the Income Tax Department after a tip off that a private firm might have deposited nearly Rs 10 crores in them, both in new and old currency, post the November 8 announcement of the banning of old 500 and 1,000-rupee notes.

Old 500 rupee notes will not be accepted anywhere from Friday, the government has said. The notes can be deposited in banks till December 30.

The government is likely to amend the Reserve Bank of India Act to extinguish the validity of Rs 500 and Rs 1,000 printed before November 9 and a reference to this effect would be made in the upcoming Budget.

Income Tax officers have in a raid allegedly unearthed 44 fake accounts at a branch of Axis Bank in central Delhi's Chandni Chowk. Tax officials said about Rs 100 crore in old notes have been deposited in these accounts since November 8, when Prime Minister Narendra Modi banned 500 and 1000 rupee notes to combat black money and money laundering.