000 Notes

RBI Governor Shaktikanta Das said on June 8 that the central bank received Rs 1.8 lakh crore worth of Rs 2,000 notes, which was 50 percent of the notes in circulation

Fuel, jewellery, grocery top 3 preferred items for people offloading Rs 2,000 notes: Survey

In about two weeks, almost half of the Rs 2,000 currency notes in circulation, worth around Rs 1.8 lakh crore, came back to the banking system, the RBI informed recently.

Rs 2,000 notes: Most banks insist on customers filling separate forms for note exchange

Banks want to track multiple exchanges of Rs 2,000 notes in case of future enquiries.

Kharge hits out at PM Modi over withdrawal of Rs 2,000 notes, says he is 'troubling' people

Calling the newly formed Congress government in Karnataka as "a government of love", he assured that all the five promises made to the people ahead of polls will be implemented.

PIL questioning use of Devanagari numerals in Rs 2,000 notes

A Madras High Court bench here today dismissed a PIL questioning the central government's decision to use Devanagari numerals on the new Rs 2,000 notes.

Jan Dhan A/c deposits double to Rs 87K cr, I-T dissects data

Deposits in Jan Dhan account have more than doubled to Rs 87,000 crore in 45 days post demonetisation, prompting the tax department to "dissect" information relating to such deposits, a top government official said.

PM Modi to address nation on new year's eve

Modi last addressed the nation on November 8 to announce demonetisation of old Rs 500 and Rs 1,000 notes to root out corruption and black money from the country.

RBI seeks details of Rs 500/1,000 deposits from banks today

"With the closure of the facility of exchange of SBNs (defunct notes) as at the close of business on December 30, 2016, all banks should report information on collection of SBNs on December 30, 2016, itself at e-mail," the central bank said in a notification.

PM Narendra Modi's 50-day deadline ends today

However, the cash crunch and queues outside ATMs and banks continue as currency printing presses have failed to meet the huge demand for new bills.

Prospects of rate cut bleak as dollar, crude rise: Assocham

Prospects of interest rate cut in near future may be bleak due to factors like continuous pressure on rupee against dollar, firming of the US rates and hardening of crude oil prices, according to a report.

No regulatory obstacles for NRIs depositing banned notes: Bank

The banking authority's chief stressed the issue was a matter for the Indian government, who must give consent for such action to ease the "potential ramifications for British Indians and Non-Resident Indians in UK".

Demonetisation may erode 4.7 lakh cr from GDP: Amit Mitra

The old high denomination notes were demonetised from November 9. Since then long queues are being witnessed at bank branches and outside ATMs for cash withdrawal.

Banks get about Rs 8.45 lakh cr worth of scrapped notes

The banks also disbursed over 2.16 lakh crore over the counter and via ATMs between November 10 and November 27, the Reserve Bank said in a statement.

Demonetisation to slow down PC, phone sales in Q4: IDC

The ongoing cash crisis is expected to pull down feature phone shipments sharply by 24.6 percent and that of smartphone by 17.5 percent during the quarter compared to the previous three-month period.

Govt extends exemptions on use of old Rs 500 note till Dec 15

From now on payment of fees up to Rs 2,000 per student has been allowed in schools and colleges run by central and states governments, municipalities and local bodies.

Demonetisation: This startup wants to ease last-mile trade‘s cash woes

Distributors usually transact in cash with retailers and in turn pay manufacturers via bank accounts. BeatRoute Innovations, a startup that focuses on facilitating last-mile trade between packaged goods companies, distributors and neighbourhood stores, is launching a cashless transaction service for traders and distributors to ease their hardship.

No intention to demonetise Rs 100/50 notes: Govt

Seeking to dispel rumours making the rounds, the government today said there is no intention to demonetise Rs 100 and Rs 50 notes.

Innovative policies for real estate need of hour: Vinod Rai

The government, however, needs to put in place policies that ensure that black money generation doesn‘t happen in future, Banks Board Bureau Chairman Vinod Rai said.

Scrapping of notes will not root out corruption: Guy Sorman

"The bank notes exchange is a smart move from a political perspective. However, it could disrupt commercial transactions for a while and slow down the economy. Moreover, this does not eradicate the deep roots of corruption.

For cashless economy, UPI needs an Aakash-like touch

Unified Payments Interface is key to Digital India mission and the government should look to ensure that each household has a smartphone. It may choose to tie-up with handset-makers — just like it did for Aakash tablet — to develop a cost-effective smartphone meant for digital transactions.

SBI gets deposits of Rs 83,702 crore in five days

The country's largest lender exchanged Rs 4,146 crore of scrapped notes between November 10 and November 14 up to 5 pm, the bank said.

Recalibrating ATMs to new currency notes will take 2-3 weeks: FM

More than Rs 2 lakh crore deposits mobilised in last two days; RBI currency chests have sufficient cash, Finance Minister Arun Jaitley said on Saturday.

PM hints at more action to unearth black money

Hinting at more action to unearth black money, Prime Minister Narendra Modi On Saturday said those holding unaccounted money will not be spared and there is no "guarantee" that no further steps would be taken after December 30 till when people can deposit the demonetised notes.

Your wait for new currency will be longer, here is why

Sources in the Reserve Bank of India (RBI) and the State Bank of Patiala told News18 that customers will have to wait for a while more for a smooth transition to the new notes because ATMs will take some more time to adjust to the new Rs 2,000 notes.

Airlines won't refund tickets bought with Rs 500, Rs 1,000 notes

Even as people lined up at airline counters to buy tickets using Rs 500 and Rs 1,000 notes, airlines said that tickets sold for the demonetised currency will be “strictly non-refundable”, according to a report in The Times of India.