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The Central Bureau of Investigation (CBI) had registered the case on the Madras High Court's directions against Padmaadevi Sugars Limited (PSL) for allegedly causing a loss of Rs 120 crore to the Indian Overseas Bank (IOB).
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The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, declined to Rs 6,691 crore at the close of business on December 31, 2024, RBI said.
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The sharp jump in fake 500-rupee currency notes came in the year 2021-2022 when the number doubled to 79669 mpcs from 39453 mpcs in the previous fiscal year
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In her viral video, the woman reveals the hidden cash from a plastic bag, which has been kept a secret for years. There were several Rs 500 and Rs 1000 notes in obsolete currency.
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Kayo Kayo Colour? (What Colour?), by Shahrukhkhan Chavada, an independent filmmaker from Ahmedabad, is a stirring poetic ode to the ordinariness of his community’s life rarely seen on the big screen in India.
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Truth be told, we weren’t supposed to stay around for a long while. We were a stop-gap arrangement to speed up the remonetization of the economy after the 2016 demonetization exercise
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According to a survey, 76 percent of those who bought a property in the last 7 years had to pay a component of the price in cash.
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The momentum in hearings and deciding important cases continued until the courts closed for the summer vacation in June.
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Sitharaman was responding to comments by P Chidambaram that the introduction and withdrawal of the Rs 2,000 note has cast doubt on the integrity and stability of Indian currency
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On May 23, lawyer Ashwini Upadhyay, who filed the plea, appeared in person and argued that the notifications by the RBI and SBI in this regard are arbitrary, irrational, and offend Articles 14 of the Constitution of India.
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According to a survey by LocalCircles, 6 percent of respondents held more than Rs 1 lakh in the soon-to-be-withdrawn currency note
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The Reserve Bank of India (RBI) said that people can visit bank branches from May 23 to exchange or deposit their Rs 2,000 notes. So, on the first day of it, Moneycontrol hit the streets of Mumbai and Delhi to find out what people are facing to get their notes exchange. Watch the full report
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Ashwani Mahajan, National Co-convener of the Swadeshi Jagran Manch, says that the withdrawal of the high denomination notes is the logical follow up to demonetisation.
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RBI on Friday in a surprise move announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks.
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According to Gandhi, who handled RBI's currency management department, the introduction of the Rs 2,000 note in 2016 was a 'short-term tactical decision' to quickly remonetise the economy post-demonetisation
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From its glitchy issuance in 2016 to the stopping of printing in 2018-19 and now finally to its recall, the Rs 2,000 note had a rough ride while in existence. All through the way, RBI has been sparing in its communication, leaving citizens with more questions than answers
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The latest release by the RBI showed the total value of Rs 2,000 banknotes was Rs 3.62 lakh crore constituting only 10.8 percent of notes in circulation as on March 31, 2023.
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Recall of the 2,000-rupee note has set off another round of consternation about currency management in the country. Banks could have been told to silently keep depositing the Rs 2,000 notes with the RBI whenever they get it instead of the convoluted rules that will de facto end its legal tender status today onwards, instead of September 30
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The RBI has advised citizens to deposit Rs 2,000 banknotes into their bank accounts or exchange them into banknotes of other denominations at any bank branch.
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The weighted average call rate, an overnight funding cost rate that the central bank monitors, have climbed almost 30 basis points since the start of the year. At 6.78% on Wednesday, it’s just hovering above the upper band of the Reserve Bank of India’s interest-rate corridor of 6.75%.
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The majority judgment upheld demonetisation after considering six primary issues. Justice B.V. Nagarathna wrote a dissenting opinion holding the demonetisation notification to be unlawful.
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The Supreme Court has dismissed the petitions against demonetisation and held it was legal and constitutional. Six years after the event, one wonders what impact any ruling could have. By holding the demonetisation as valid in law, this ruling has created a precedent for future demonetisation
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The verdict has nothing to say on whether the stated objectives of demonetisation were met, AICC general secretary Jairam Ramesh said.
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NCP national spokesperson Clyde Crasto said the move failed in exposing black money as 99 per cent of demonetised notes came back to the banks.
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The dissenting judgement will rank among the famous dissents recorded in the history of the Honorable Supreme Court, says former Finance Minister P Chidambaram.
