Denomination

The government has asked the people to refrain from keeping or carrying Indian bank notes higher than Rs 100 denomination as it has not legalised them, The Kathmandu Post quoted Minister for Information and Communications Gokul Prasad Baskota as saying.

India's economic data not politically influenced, says Arvind Subramanian

Speaking to an investment forum in Hong Kong on Wednesday, Arvind Subramanian said India was seeking to improve its methodology, and its data should not draw the same scepticism with which some analysts treat China's economic data.

New Rs 10 notes with more security coming soon

The RBI today said the banknotes in the Mahatma Gandhi series-2005 are to carry inset letter 'L' on both number panels, bearing the signature of Governor Urjit Patel.

State elections outcome won't affect market: UBS Securities

Although he adds that investors have beem closely following Narendra Modi after his decision to ban high denomination currency last year. So, any BJP win or loss by a huge margin is likely to affect market, he adds.

Lower interest rates on home loans to boost demand

Banks are cutting lending rates after spurt in deposits following demonetisation of old high denomination currency notes of Rs 500/1,000.

Rahul Gandhi demands removal of weekly withdrawal limit

"Destroyed in the last 50 days: trust in the Prime Minister's word. Weekly cash withdrawal limits must go," Gandhi tweeted.

Note ban ordinance likely to be taken up before Cabinet today

An ordinance to extinguish the liability of the government and the RBI on the demonetised high denomination notes is likely to come up before the Union Cabinet tomorrow.

Unaccounted cash Rs 36 lakh in 2,000 notes seized in TN

Unaccounted cash to the tune of Rs 36 lakh in the denomination of Rs 2,000 notes were seized from a car in nearby Tirupur district, early today and five persons taken into custody in this connection, police said.

Cash crunch likely to end only by end Feb: SBI Research

"Nearly 50 per cent and 75 per cent of the total value of the extinguished notes can be supplied by December-end and January-end respectively, given the current phase of frantic printing," an SBI Research said today.

Cleaning system from black money very high on my agenda: PM Modi

"India is currently witnessing an economic transformation... We are now moving towards a digital and cashless economy," he said while addressing via video conferencing the 'Economic Times Asian Business Leaders Conclave 2016' in Kuala Lumpur along with his Malaysian counterpart Najib Razak.

Take steps to get smaller currency notes: Dattatreya urges RBI

Dattatreya, who held a meeting with the central bank officials and ministers of Telangana here, asked the banks to take measures for waiver of service charges to all the users of net banking and cards to encourage cashless transactions.

Inflation may cooled further in Nov after cash clampdown: Poll

Modi's announcement on November 8 that he was withdrawing 500 and 1,000 rupee bank notes in an attempt to curb corruption and tax evasion made it much harder for consumers to make purchases in the predominantly cash-based economy.

RBI to launch new Rs 100 currency note soon

"The Reserve Bank will shortly issue Rs 100 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the numbering panels," RBI said in a release.

Supreme Court to hear pleas on demonetisation on December 9

The apex court could not take up the matter, as scheduled earlier, since Chief Justice T S Thakur, who had to head the bench, did not hold the court.

Indian services activity plunges into contraction in November

The latest data, coupled with another last week that showed factory activity slumped as well, offers the first glimpse of the massive hit the economy is likely to take from Modi's demonetization drive.

India may impose curbs on domestic gold holdings: Report

Gold premiums in India jumped to two-year highs last week as jewellers ramped up purchases on fears the government might restrict imports after withdrawing higher-denomination notes from circulation in its fight against black money.

COMMENT: The Rs 21,000-cr Jan Dhan deluge and a flood of questions

The Pradhan Mantri Jan Dhan Yojana – essentially zero deposit accounts - saw this sharp jump in deposits after Prime Minister Narendra Modi announced demonetization of higher denomination Rs 500 and Rs 1,000 notes and accompanied a Rs 5 lakh crore surge in deposits overall.

Cabinet moves in to tax deposit above threshold, post note ban

The move comes amid banks reporting over Rs 21,000 crore being deposited in zero-balance Jan Dhan accounts in two weeks after the 500 and 1,000 rupee notes were banned, which authorities apprehend may be the laundered blackmoney.

Govt needs to be vigilant about sources of black economy: SBI

According to SBI Research, there is excess currency floating in the economy and the number could be as much as Rs 5 lakh crore.

Old Rs 500/1000 notes can be deposited in PO saving a/c

The ministry had yesterday said that Rs 500 and 1,000 rupee notes cannot be used for making deposits in small savings schemes.

Govt sets up panels to follow through demonetisation move

Government said it has formed committees of senior officials to visit states and UTs and report status of implementation of its decision pertaining to demonetisation.

Cannot disclose details on release of new Rs 500 notes: RBI

The submission was made by the counsel for RBI on a petition seeking a direction to the Registrar of Co-operative Societies to follow procedures laid down by RBI relating to demonetisation and permit cash withdrawal and exchange of old currencies in the societies.

India premiums surge to two-year highs on fears of import curb

Retail demand was subdued due to a cash crunch following the government's move on high-value banknotes, but dealers in the world's No.2 consumer of the metal were charging a premium of up to USD 12 an ounce this week over official domestic prices that include a 10 percent import tax.

Trade severely affected for want of smaller denominations

President of the Chamber of Commerce here K A Shenbakarajan has in his letter to the Chief Secretary to Puducherry government today focused the hardships the traders and public at large were facing both in standing in serpentine queues before the banks.

Jaitley regrets inconvenience,urges patience in changing notes

Assuring that RBI and banks have stacked up enough currency to replace the Rs 14 lakh crore worth of Rs 1000/500 notes that have been declared invalid, he said the government is constantly monitoring the situation as it is a "massive operation".