Note Ban

Petrol pumps fall short of change as customers rush to exchange Rs 2,000 notes

Petroleum dealers’ associations say the situation has become similar to the 2016 demonetisation drive as customers are rushing to petrol pumps to get rid of notes.

RBI to withdraw Rs 2,000 notes: Here is what data shows on currency denominations in circulation

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.

News Updates : 'Terror epicentre located close to India': S Jaishankar's veiled attack on Pakistan in Vienna

Business and political news updates: "We spoke at length on the threats to international peace and security that are posed by terrorism, including its cross-border practices, violebt extremism, radicalisation and fundamentalism," he stated.

Note ban, GST ruined ease of doing business: Rahul Gandhi

On the first day of his three-day campaign tour of south Gujarat, Gandhi also hit out at Prime Minister Narendra Modi on the issue of black money and said demonetisation had destroyed the country's economy.

RBI says sharing note ban process details will affect India's economic interests

The Reserve Bank of India (RBI) was asked to provide a copy of the minutes of the meetings held in its office during which the decision to demonetise Rs 500 and Rs 1,000 notes was taken.

Remonetisation to expand tax base, says Arun Jaitley

In November 2016, the government junked 500 and 1,000 rupee notes, which made up 86.4 per cent of the country's circulating currency.

Currency with public declines slightly as ATMs run dry

According to the RBI data, there was a 4 percent increase in currency in the hands of the public at Rs 12.64 lakh crore as on March 31, as against a 7 percent rise a fortnight ago .

Honest taxpayers, rural household hardest hit due to demonetisation: Parliamentary Panel

India services activity expands again in March, index reaches five-month high

The Nikkei/IHS Markit Services Purchasing Managers' Index rose to 51.5 in March, its highest level since October, from February's 50.3. A reading above 50 indicates expansion.

India 10-year benchmark bond rallies on repo squeeze

The scramble for bonds came after some traders on Friday shorted the 6.97 percent bond due in 2026 and needed to secure the bonds on Monday to settle their trades.

Did an online fund transfer of over Rs 2.5 lakh? You may face tax enquiry

Online fund transfers worth over Rs 2.5 lakh will now be under the tax department’s scanner.

Note ban has not affected prices of essential items: Ram Vilas Paswan

Food and Consumer Affairs Minister Ram Vilas Paswan said changes in prices of the 22 items including pulses, onion and tomato vis-a-vis on the day of demonetisation are being monitored on a daily basis.

PayU plans Digibank, aims $100 mn revenue by March 2018

PayU at present provides financial technology to merchants for facilitating online payments.

RBI refuses to answer why it didn't allow exchange of old notes till Mar 31

The Reserve Bank of India (RBI) has refused to answer the question under the Right to Information (RTI) Act claiming the query does not come under the definition of "information" as per the transparency law.

Note ban may have affected Current Account Deficit, says SBI Research

The upward revision in services exports is one of the main reasons in containing CAD, says the report.

CAG to audit fallout of demonetisation

The Comptroller and Auditor General of India (CAG) plans to audit the impact of note ban and the affect it has had on government tax revenues, said CAG Shashi Kant Sharma.

Demonetisation: Has it delivered?

The success that Narendra Modi and BJP have tasted in the recent state elections reveal people's support for the withdrawal of high denomination notes but the jury is still out on its efficacy.

Gujarat govt distances itself from minister's remarks on note ban

Gujarat Minister Rohit Patel faced embarrassment when Deputy Chief Minister Nitin Patel disowned his comments made today in the Assembly about note ban, following which the Speaker expunged his comments from the records.

India's GDP growth appears solid, says noted US economist

Noted American economist Steve H Hanke has said that India's economic growth for 2016-17 is appearing 'solid' because the GDP figures did not take into account adverse impact of demonetisation on informal economy.

India will achieve 8% growth despite note ban: Oil Minister

India's economy will continue its momentum despite demonetisation and achieve an eight per cent growth next year, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan has said.

Q3 FY16 revision helped GDP, note ban impact at 1%: Analysts

Even though a 7 percent headline growth number for Q3 suggests resilience in the economy despite note ban, analysts today said a sharp cut in the year ago's data helped achieve it, while demonetisation led to an impact of over 1 percentage point on GDP expansion.