Rbi Demonetisation

The Reserve Bank of India (RBI) plays an important role in shaping the country's economy, and courts should refrain from delving into the monetary regulatory framework, the Bombay High Court said.

The Reserve Bank of India (RBI) today told the Delhi High Court that withdrawal of Rs 2000 notes is not demonetisation but a statutory exercise, and the decision to enable their exchange was taken for operational convenience.

The bank clarified that the Rs 2000 notes will continue to be legal tender even after September 30.

The Reserve Bank of India (RBI) does not have a plan to reintroduce Rs 1,000 bank notes to ease the impact following the withdrawal of Rs 2,000 notes, RBI governor Shaktikanta Das said today, calling reports on the subject "speculative".

The Congress targeted the prime minister on Friday over the RBI announcement on the withdrawal of Rs 2,000 currency notes from circulation, saying the move was "typical of our self-styled vishwaguru" and his method of "first act, second think".

The Supreme Court on Wednesday directed the Centre and the Reserve Bank of India (RBI) to put on record relevant records relating to the government's 2016 decision to demonetise currency notes of Rs 1,000 and Rs 500 denomination for its perusal.

The Reserve Bank of India and the Centre on Monday defended the Centre's decision to demonetise the old currency notes of Rs 500 and Rs 1,000 before the Supreme Court of India as it said that procedure was followed.

The 2016 demonetisation was a "well-considered" decision and part of a larger strategy to combat the menace of fake money, terror financing, black money and tax evasion, the Union government has told the Supreme Court.

RBI Monetary Policy Committee (MPC) member Ashima Goyal has attributed the rise in tax collections to demonetisation and said that it will help the nation move towards the ideal situation where low taxes are levied on a large base.

Trinamool Congress leader Derek O'Brien took a swipe at Prime Minister Narendra Modi over his claim that demonetisation would push digital transactions and wipe out fake currency

The value and volume of bank notes in circulation had increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21

India's dependency on cash may slow the country's transition to digital payments despite large numbers of internet and mobile phone users.

Congress president Sonia Gandhi sent across a scorching message to the central government on the third anniversary of its demonetisation initiative today, promising to ensure that the people neither forgive nor forget the "Tughlaqi blunder" that had brought the nation's economy to its knees.

Former Reserve Bank of India governor Raghuram Rajan in his latest criticism seen to be directed at the centre has warned of the ill effects of "divisive, populist majoritarianism". The former RBI governor whose policy thinking differs from that of the government led by Prime Minister Narendra Modi - Mr Rajan is a big critic of demonetisation - has...

The Reserve Bank will soon introduce varnished banknotes of Rs 100 denomination on a field trial basis to increase the life of the banknotes and also look at ways to make them disabled-friendly in FY20.

The Reserve Bank of India (RBI) plays an important role in shaping the country's economy, and courts should refrain from delving into the monetary regulatory framework, the Bombay High Court said.

The Reserve Bank of India (RBI) today told the Delhi High Court that withdrawal of Rs 2000 notes is not demonetisation but a statutory exercise, and the decision to enable their exchange was taken for operational convenience.

The bank clarified that the Rs 2000 notes will continue to be legal tender even after September 30.

The Reserve Bank of India (RBI) does not have a plan to reintroduce Rs 1,000 bank notes to ease the impact following the withdrawal of Rs 2,000 notes, RBI governor Shaktikanta Das said today, calling reports on the subject "speculative".

The Congress targeted the prime minister on Friday over the RBI announcement on the withdrawal of Rs 2,000 currency notes from circulation, saying the move was "typical of our self-styled vishwaguru" and his method of "first act, second think".

The Supreme Court on Wednesday directed the Centre and the Reserve Bank of India (RBI) to put on record relevant records relating to the government's 2016 decision to demonetise currency notes of Rs 1,000 and Rs 500 denomination for its perusal.

The Reserve Bank of India and the Centre on Monday defended the Centre's decision to demonetise the old currency notes of Rs 500 and Rs 1,000 before the Supreme Court of India as it said that procedure was followed.

The 2016 demonetisation was a "well-considered" decision and part of a larger strategy to combat the menace of fake money, terror financing, black money and tax evasion, the Union government has told the Supreme Court.

RBI Monetary Policy Committee (MPC) member Ashima Goyal has attributed the rise in tax collections to demonetisation and said that it will help the nation move towards the ideal situation where low taxes are levied on a large base.

Trinamool Congress leader Derek O'Brien took a swipe at Prime Minister Narendra Modi over his claim that demonetisation would push digital transactions and wipe out fake currency

The value and volume of bank notes in circulation had increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21

India's dependency on cash may slow the country's transition to digital payments despite large numbers of internet and mobile phone users.

Congress president Sonia Gandhi sent across a scorching message to the central government on the third anniversary of its demonetisation initiative today, promising to ensure that the people neither forgive nor forget the "Tughlaqi blunder" that had brought the nation's economy to its knees.

Former Reserve Bank of India governor Raghuram Rajan in his latest criticism seen to be directed at the centre has warned of the ill effects of "divisive, populist majoritarianism". The former RBI governor whose policy thinking differs from that of the government led by Prime Minister Narendra Modi - Mr Rajan is a big critic of demonetisation - has...

The Reserve Bank will soon introduce varnished banknotes of Rs 100 denomination on a field trial basis to increase the life of the banknotes and also look at ways to make them disabled-friendly in FY20.