Government sources tell CNBC-TV18 that the ordinance will mention until when the old notes can be used as legal tender and is speculated to change the deposit timeline from the earlier December 30 deadline.
There are estimates that it will take anywhere between 4 months to one year to remonetise the economy, Former RBI Deputy Governor KC Chakrabarty told CNBC-TV18.
In stark contrast to Prime Minister Narendra Modi who has made six appearances since November 8, Reserve Bank of India Governor Urjit Patel has spoken only once since the currency overhaul was launched.
P Chidambaram criticised PM Narendra Modi's demonetisation decision saying it was a knee-jerk reaction with no thought process on actions involved and thinks none of the government's objectives of this scheme have been met.
About 15-20 National Company Law Tribunals will be set up to hear insolvency cases. The first case can come within a year itself, says MR Umarji, Member, Bankruptcy Law Committee.
With the issue of good governance at the helm of corporate India affairs the Gatekeepers of Governance – a corporate governance summit brought together all the stakeholders to discuss and deliberate pertinent matters regarding good corporate governance practises.
With Narendra Modi government's focus on banking for all, with the launch of the Jan Dhan Yojana, financial inclusion is indeed on top of the mind of bankers across the country. CNBC-TV18s Surabhi Upadhyay and Radhika Dave talk to bankers and policy makers to find out what this new government initiative means for them.
RBI Governor Raghuram Rajan has been repeatedly assuring that some concrete action will be taken on issuing new bank licences before the end of the term of deputy governor Anand Sinha, who is in charge of banking department, in early February.
With a view to stimulate demand, the Government is working with RBI to prod state-run banks to lend at lower rates by increasing capital infusion.
RBI Deputy Governor KC Chakrabarthy speaks on the importance of financial inclusion. He stresses on the importance of this element as inclusive growth cannot happen without this.
Rupe has hit a one-year low and the key psychological level of 57 against dollar. Reacting to this RBI deputy governor KC Chakrabarty said that the regulator will do everything to minimise foreign exchange volatility.
Deputy governor of the Reserve Bank of India KC Chakrabarty asked the banks to adopt a camp approach to open a large number of accounts to capture everybody's bank account first.
It would be a complete travesty if the CobraPost sting on India‘s three biggest private banks – HDFC Bank, Axis Bank and ICICI Bank – ends up stinging either the wrong people or some scapegoats.
iNDXTb an orngansiation of the Government of Gujarat and Confederation of Indian Industry (CII) organized a series of forums to discuss sustainability as a run-up to the Vibrant Gujarat 2013 Summit.
The Reserve Bank of India on Tuesday added some additional portfolios to its existing deputy governors. Apropos Dr Subir Gokarn's term as deputy governor having come to a close on December 31, 2012, the portfolios of deputy governors have been reallocated, the central bank said in a release.
A day after Lok Sabha passed the Banking Laws (Amendment) Bill, RBI deputy governor KC Chakrabarty on Wednesday said the process for issuing new banking licences will be expedited
RBI Deputy Governor KC Chakrabarty has said risk assessment capability of state-run banks is lower than private sector banks and asked PSBs to develop the habit of saying "no" to unviable proposals.
The Reserve Bank expects inflation to moderate further in the next two-three months that may lead to cut in interest rates by the Central Bank, RBI Deputy Governor KC Chakrabarty said.
RBI Deputy Governor K C Chakrabarty has come down heavily on banks showing higher profits without providing adequately for bad loans, and said if need be, the central bank may hike provision coverage ratio (PCR) levels.
The Reserve Bank today set up two supervisory bodies for State Bank of India and ICICI Bank to ensure compliance of global prudential norms and reduce supervisory overlap.
Holding corporates responsible for a major part of the rising bad loans, RBI Deputy Governor K C Chakrabarty today said honest borrowers are paying for the sins of "inefficient".
RBI Deputy Governor KC Chakrabarty today conceded that monetary policy is partly responsible for not being able to contain inflation and arrest slowdown in growth.
Indicating that the reduction in key interest rate would depend upon price situation, RBI Deputy Governor KC Chakrabarty today said its comfort level for inflation is 4-5 per cent.
The Reserve Bank Of India has released a report assessing the performance of banks in FY12 and also on the road ahead for banks in the coming days, reports CNBC-TV18's Gopika Gopakumar.
Banks are not passing on the benefit of cut in policy rates to the borrowers, Reserve Bank Deputy Governor KC Chakrabarty said today while asking lenders to undertake reforms and bring down their operation costs.