Government Scraps Old Notes

Freecharge also reported a sharp 12X overnight jump in the average wallet balance as consumers loaded up their wallets to face a cashless day across India.

Currency ban: Startups go on a marketing drive in cyberspsace

Digital companies went on an overdrive sending emailers and SMSes to consumers to shift online even for basic services such as home repairing.

Ban on notes: E-commerce logistics hurt; e-wallets to gain

Fintech startups are the most to gain with Modi‘s surgical strike against black money. VC money in such startups is likely to flow in the coming weeks, as more people are likely to adopt digital wallets.

PM Narendra Modi‘s move may come as a shot in arm for e-commerce

In a bid to curb black money, Prime Minister Narendra Modi on Tuesday announced that Rs 500 and Rs 1000 denomination notes will not be legal tender.

Twitterati welcome & raise concerns on PM's surprise

The late-night announcement by Prime Minister Narendra Modi on black money brought some genuine concerns on implementation and the Opposition was not behind in pointing them out.

Weeding out big notes will hurt wedding spend, gold buying

The government‘s decision to ban large denomination Rs 500 and Rs 1,000 notes from midnight tonight will likely have a bearing on the current wedding season spending, mainly gold buying.

Full text of govt's statement on banning Rs 500 & Rs 1,000 notes

Here is the full text of the press release issued by the Government of India, Finance Ministry and Department of Economic Affairs which entails the government's rationale behind the move to invalidate Rs 500 and Rs 1,000 notes and bring in new notes of Rs 500 and Rs 2,000.

Ban on notes could impact spending in UP, Punjab polls

India‘s electoral funding is largely opaque. According to the Association for Democratic Reforms (ADR) parties receive up to 75 percent of their funds from unknown sources.

Govt renews clamp down on parallel cash economy

The government on Tuesday scrapped Rs 500 and Rs 1,000 notes from midnight as part of the strategy to clamp down on India‘s bustling parallel cash economy. New Rs 500 and Rs 2,000 notes will be issued shortly.

Rs 500, Rs 1,000 notes no more valid: What you should do

In a bold move to curb counterfeit currency and a renewed push to tackle black money, the government has decided to scrap Rs 500 and Rs 1,000 notes. The decision is unprecedented but here are the measures the government has introduced to mitigate any problems a common man would face. Here's what you need to know