New Rs 500 Notes

RBI declares to withdraw all Rs 2,000 currency notes: All your queries answered

The Reserve Bank of India (RBI) on May 19 said it is withdrawing Rs 2,000 notes from circulation based on a review. However, the banknotes of Rs 2,000 denomination will continue to be legal tender, the central bank said in a release.

Demonetisation: Last day to deposit scrapped Rs 500, Rs 1,000 notes

After March 31, holding demonetised notes would be illegal and could invite hefty fines and even jail, according to an ordinance passed by the Union Cabinet on Wednesday.

Bank unions write to RBI Governor over cash shortage

Two bank unions today urged RBI Governor Urjit Patel to ensure adequate supply of the new Rs 500 notes and bills of lower denominations to tide over the prevailing cash crunch.

Banks with currency chest need to boost supply for crop: RBI

To ensure adequate allocation of banknotes is made for rural branches, post offices and DCCBs, banks are advised to involve the district co-ordinators (Lead District Managers) functioning under State Level Bankers' Committee (SLBC) in facilitating/planning distribution of currency from currency chests, RBI said in a notification.

RBI places order to print currency as per requirement: Govt

Replying to questions in Lok Sabha, Minister of State for Finance Arjun Ram Meghwal said the new series of bank notes have been introduced with effect from November 10 after the cancellation of legal tender character of the old high denomination notes.

Impact analysis of demonetization in India

The term demonetization is not new to the Indian economy. The highest denomination note ever printed by the Reserve Bank of India was the Rs 10,000 note in 1938 and again in 1954. But these notes were demonetized in January 1946 and again in January 1978, according to RBI data.

Taxation Laws: Why they are a positive stroke for the nation

Further to the announcement of demonetization by way of withdrawal of bank notes of Rs. 500 and Rs. 1000 denomination, the government has taken a step forward to curb black money. Concerns were raised that some of the existing provisions of the Income-tax Act, 1961 (the Act) can possibly be used for concealing black money.

RBI may front-load rate cut to December to support growth: DBS

According to the global financial services major, following the demonetisation move, the dampening impact on economic activity is clear, especially on consumption, supply chain and cash dependent businesses and inflation over this quarter and the next.

Indian expats in UAE affected due to demonetisation

The families are facing a tough situation after Prime Minister Narendra Modi announced the demonetisation move, the Gulf News reported.

Banks get about Rs 8.45 lakh cr worth of scrapped notes

The banks also disbursed over 2.16 lakh crore over the counter and via ATMs between November 10 and November 27, the Reserve Bank said in a statement.

Opposition seeks apology from PM for his remarks on blackmoney

Immediately after the House mourned the death of its former member Dipen Ghosh, Mayawati (BSP) was up on her feet saying the Prime Minister had this morning "wrongly accused opposition of holding blackmoney" and demanded that he should apologise for his remarks.

PM Modi hits out at critics of demonetisation scheme

"Some people are criticising saying the government did not make ample preparation. I think that is not the issue that the government did not make ample preparation. I think the pain of such people is that the government did not give a chance to make any preparation," he said at a book launch function.

Gave corrupt no time to prepare, says PM,pitches for digital eco

â€œEveryone has the right to use their money, but the world is changing today. Money is not available physically. We must move towards a cashless economy,â€ the PM said at a book launch function in Parliament House Annexe in the run up to Constitution Day on Saturday.

PM to attend Rajya Sabha as centre scrambles to end logjam

The logjam has kept Parliament from transacting any meaningful business since the Winter Session started a week ago.

India's demonetisation drive to help dictate BJP, Modi's fortune

The November 8 ban on high-value currency notes has sent India's economy into a tailspin, as citizens struggle to get their hands on new bills, hindered by a limited stock of freshly-printed notes, daily account withdrawal restrictions, long queues at banks and empty ATM machines.

Opposition running away from debate on demonetisation: Prasad

Prasad said there should be a debate on the issue and the government is willing to listen to the Opposition's viewpoint and also respond.

Banks got Rs 5.45 trillion of high value cash from Nov 10-18:RBI

The total amount includes Rs 5.12 trillion of deposits and Rs 330 billion as exchange of old notes with new ones.

Bonds defy global rout as note ban brings Dec rate cut into view

Since Prime Minister Narendra Modi announced the sudden removal of 500 and 1,000 rupee notes on November 8 to crack down on corruption and forgeries, banks have been awash in liquidity as households rushed to tender their old bills - putting the brakes on a cash-reliant economy.

Long queues outside banks a 'serious issue', says Supreme Court

"It is a serious issue which requires consideration," a bench comprising Chief Justice T S Thakur and Justice A R Dave said, while asking the parties to be ready with data and other issues in writing.

Oppn insists on adjournment motion over currency issue in LS

As soon as the House met for the day, Leader of Congress in the Lok Sabha Mallikarjun Kharge demanded that the issue of scrapping of Rs 1000 and Rs 500 denomination notes be discussed through an adjounment motion and not the rule proposed by the government.