Rs 500 Notes Banned

Gwalior police caught a man with Rs 47 lakhs of banned currency notes of Rs 500 and Rs 1,000 in the district, a police official said on Monday.

The RBI started printing the Rs 2,000 note in November 2016 after Prime Minister Narendra Modi scrapped high-value Rs 1,000 and Rs 500 notes overnight.

Prime Minister Narendra Modi's shock decision to ban Rs 1,000 and Rs 500 notes in November 2016, was not flawed or unlawful, the Supreme Court said today in a majority 4:1 verdict.

The Supreme Court today upheld the demonetisation of Rs 1,000 and Rs 500 currency notes. Justice BV Nagarathna dissented as the four other judges of the five-judge bench ruled in favour of the Centre's 2016 exercise.

The Supreme Court will today pronounce its verdict on a batch of petitions challenging the Union Government's 2016 decision to demonetise the currency bills of Rs 500 and Rs 1,000 denominations.

The Supreme Court is likely to give its verdict today on petitions challenging the centre's decision of November 2016 to ban Rs 1,000 and Rs 500 currency notes. Rs 10 lakh crore was wiped out of circulation overnight because of the move.

Calling the demonetisation of Rs 500 and Rs 1000 currency notes "deeply flawed", senior lawyer P Chidambaram told the Supreme Court on Thursday the Union government cannot on its own initiate any proposal relating to legal tender.

The Supreme Court on Wednesday deferred to November 24 the hearing on a batch of pleas challenging the Centre's 2016 decision to demonetise currency notes of denomination of Rs 500 and Rs 1000.

Nepal's central bank has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations, a move that could affect Indian tourists visiting the Himalayan nation where Indian currency is widely used.

The Assam government on Wednesday announced that it would deposit Rs 2,500 each to over seven lakh bank accounts of tea garden workers that were opened just after the notes ban two years ago.

The Nepal government has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations, according to a media report.

DMK President MK Stalin and PMK Founder S Ramadoss on Thursday criticised the centre for banning Rs 500 and Rs 1,000 rupee notes in 2016.

As the dust settles on the demonetisation episode, the data show it didn't weed out black money or cash gained through illegal means, which was a key objective of Prime Minister Narendra Modi's plan. On the plus side, there's been some widening in the country's dismal tax base, an increase in digital payments and a drop in fake notes.

The Shiv Sena on Friday again attacked the BJP for demonetising Rs 500 and Rs 1,000 bank notes in 2016, calling it a "butchering of the Indian economy" which it said even the Reserve Bank Of India (RBI) had conceded.

Finance Minister Arun Jaitley on Thursday said the demonetisation of Rs 500/1,000 notes led to formalisation of economy, more tax collection and higher growth.

Gwalior police caught a man with Rs 47 lakhs of banned currency notes of Rs 500 and Rs 1,000 in the district, a police official said on Monday.

The RBI started printing the Rs 2,000 note in November 2016 after Prime Minister Narendra Modi scrapped high-value Rs 1,000 and Rs 500 notes overnight.

Prime Minister Narendra Modi's shock decision to ban Rs 1,000 and Rs 500 notes in November 2016, was not flawed or unlawful, the Supreme Court said today in a majority 4:1 verdict.

The Supreme Court today upheld the demonetisation of Rs 1,000 and Rs 500 currency notes. Justice BV Nagarathna dissented as the four other judges of the five-judge bench ruled in favour of the Centre's 2016 exercise.

The Supreme Court will today pronounce its verdict on a batch of petitions challenging the Union Government's 2016 decision to demonetise the currency bills of Rs 500 and Rs 1,000 denominations.

The Supreme Court is likely to give its verdict today on petitions challenging the centre's decision of November 2016 to ban Rs 1,000 and Rs 500 currency notes. Rs 10 lakh crore was wiped out of circulation overnight because of the move.

Calling the demonetisation of Rs 500 and Rs 1000 currency notes "deeply flawed", senior lawyer P Chidambaram told the Supreme Court on Thursday the Union government cannot on its own initiate any proposal relating to legal tender.

The Supreme Court on Wednesday deferred to November 24 the hearing on a batch of pleas challenging the Centre's 2016 decision to demonetise currency notes of denomination of Rs 500 and Rs 1000.

Nepal's central bank has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations, a move that could affect Indian tourists visiting the Himalayan nation where Indian currency is widely used.

The Assam government on Wednesday announced that it would deposit Rs 2,500 each to over seven lakh bank accounts of tea garden workers that were opened just after the notes ban two years ago.

The Nepal government has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations, according to a media report.

DMK President MK Stalin and PMK Founder S Ramadoss on Thursday criticised the centre for banning Rs 500 and Rs 1,000 rupee notes in 2016.

As the dust settles on the demonetisation episode, the data show it didn't weed out black money or cash gained through illegal means, which was a key objective of Prime Minister Narendra Modi's plan. On the plus side, there's been some widening in the country's dismal tax base, an increase in digital payments and a drop in fake notes.

The Shiv Sena on Friday again attacked the BJP for demonetising Rs 500 and Rs 1,000 bank notes in 2016, calling it a "butchering of the Indian economy" which it said even the Reserve Bank Of India (RBI) had conceded.

Finance Minister Arun Jaitley on Thursday said the demonetisation of Rs 500/1,000 notes led to formalisation of economy, more tax collection and higher growth.