Cash Economy

Currency with the public, as a percentage of nominal GDP, is back to where it was before demonetisation

SBI will be global player after merger with associates: Jaitley

SBI will be a global player, controlling 25 percent of the Indian banking industry, after the merger with its associate and subsidiary units, Finance Minister Jaitley said in an exclusive interview to CNBC-TV18.

Govt working to expand digital transaction at great pace: FM

Asserting that the government is working to expand digital transaction at a great pace despite criticism, Finance Minister Arun Jaitley today asked Opposition not to eulogise the virtues of cash as it leads to temptation for shadow economy.

India's crackdown on cash imperils pivotal national tax reform

Modi's government already had its work cut out to finalise a deal with India's 29 federal states to launch a Goods and Services Tax (GST) on April 1 that would transform Asia's third largest economy into a single market for the first time.

India takes steps to ease impact from ban on banknotes

Prime Minister Narendra Modi shocked the country on November 8 by abolishing 500 and 1,000 rupee notes, which accounted for 86 percent of the cash in circulation. The move was aimed at cracking down on the shadow economy, but has brought India's cash economy to a virtual standstill.