Cash Chaos

The demonetisation exercise proved detrimental to toll collections which dropped a sharp 20 percent year-on-year in the three months to December 2016, reports Financial Express.

Key announcements from PM Modi's New Year's Eve speech

Following the tough decision to demonetise Rs 500 and Rs 1000 currency notes, Prime Minister Narendra Modi today thanked citizens for undertaking a yagna (sacrifice) to cleanse the economy of black money

Coimbatore's jewellery industry loses shine due to note ban

Coimbatore, with close to 55,000 goldsmiths and over 3,000 jewellery manufacturing companies, had to bear the brunt of Prime Minister Narendra Modi's demonetisation drive. A CNBC-Tv18 report brings to light how the city is coping with the note ban.

Earnings growth of ex-financials may come down to 0% in Q3 & Q4

The demonetisation drive has taken a toll on the market and Anish Damania of IDFC Securities says that the market may not see recovery soon and there will be three quarters of dismay.

Lower gold import duty good sign, may curb smuggling: Titan CFO

Reports indicate that government is likely to lower import duty on gold to 6 percent from 10 percent. Speaking to CNBC-TV18, S Subramaniam, CFO, Titan Company says it will be a good sign if the government takes this decision as it will curb smuggling of gold in a big way.

See no fall in Q3 sales; cashless purchase doubled: HPCL Chief

To promote its 'go cashless campaign', the government is leaving no stone unturned and in a similar effort, HPCL is giving cashback and rewards on fuel purchases for payments made by cards. Speaking to CNBC-TV18, MK Surana, CMD of the company said that cashless purchase has doubled from what it was before the roll-out of demonetisation.

Biz in Chennai cripples on cash crunch, Vardah double blow

The cash crunch in Chennai has worsened due to the cyclone Vardah, which has caused a massive power and network outage in the city. This has thrown a lot of the progress made in the digital payments space for a loop.

Industry capacity may hit 150 MT in couple of years: Steel Secy

Government extended minimum import price (MIP) on 19 products for two months to protect domestic steel industry from below-cost imports. Steel Secretary Aruna Sharma believes that steel capacity will reach 150 MT in couple of years.

E-wallets may drop bank transfer charges

According to a report in DNA, e-wallet companies charge customers when they transfer money from their wallet to banks. The fee ranges from 1-3 percent. The charges are for non-KYC users. Wallet biggies are taking steps to waive them off.