Based on source information, the CBI had carried out a surprise check in the Civil Lines branch of State Bank of India in Uttar Pradesh's Bareilly on January 2.
Customs officials have registered a few cases, where demonetised banknotes were sent abroad by courier, and seized over Rs 1 lakh in such notes, a senior official said today.
The Lok Sabha today passed a bill which makes holding of more than 10 old notes of Rs 500/1000 denomination punishable with a minimum fine of Rs 10,000, with the government saying the aim was to check parallel economy using the scrapped notes.
While rushing in to deposit old notes, individuals have brought higher ticket products boosting revenue growth and in turn profits.
Government sources today revealed that deposits close to Rs 15 lakh crore is back in the banking system up to December 31, 2016.
Union leaders say said that in November itself, some clerical staff in banks being paid overtime of as much as Rs 50,000, whereas officers were not paid any such amount.
Following the tough decision to demonetise Rs 500 and Rs 1000 currency notes, Prime Minister Narendra Modi today thanked citizens for undertaking a yagna (sacrifice) to cleanse the economy of black money
On the eve of New Year, all eyes in the country will be glued to Prime Minister Narendra Modi's televised address to the nation at 7.30 pm.
With the 50-day period window for exchanging/depositing old notes of Rs 500 and Rs 1000 getting over on December 30, here‘s a look at all the steps taken by the Reserve Bank of India to ensure enough cash is available in the banking system
Making a pitch for cashless transactions, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan today said there has been a phenomenal growth of about 25 per cent in digital payments for buying petroleum products at petrol pumps across the country post demonetisation.
The Cabinet today approved promulgation of an ordinance to impose a penalty, including a jail term, for possession of the scrapped 500 and 1,000 rupee notes beyond a cut-off.
Since the ban of high-value currency notes on November 8, close to Rs 14 lakh crore is back in the banking system, said sources.
Amid salary day blues, Mamata Banerjee today alleged her state West Bengal and some others were being discriminated against in supply of new currency notes and demanded that RBI furnish details of bills distributed to each state.
"American citizens who are working and living in India, I think have the proper information now to exchange those notes or to get new notes, and it's a little bit of an adjustment, just as it was an inconvenience, I'm sure, for many Indians, but I think a necessary one to address corruption," Toner said in response to a question.
Joining the crusade against the currency ban, Mitra said the government was not prepared to implement this scheme. Due to the cash clean-up, informal sector in all states is in deep trouble, he said.
In wake of the government's move to demonetise Rs 500 and Rs 1,000 currency notes, small and medium enterprises (SMEs) are facing temporary difficulties for making payments but are coping with the fall out of demonetisation.
The bank is also reaching out to residential societies and foreign nationals post ban on Rs 500 and Rs 1000 notes.
Abhishek Lodha, MD of Lodha Developers says that it is unlikely to see overall decline in realty prices.
The Prime Minister posed questions like, Do you have any suggestions/ideas or insights you would like to share with PM Narendra Modi.
"This decision is taken in the interest of the country, to bring black money into mainstream...It is the biggest assault on terror funding so far. We congratulate the Prime Minister for taking such a tough decision," Ramdev told reporters along with other religious leaders attached to Hindu Dharma Acharya Sabha here.
The union government’s recent decision to demonetise Rs 500 and Rs 1,000 notes, has hit stamp duty collection in Maharashtra, which is already down by 37% across the state, the Inspector General of Registration R
An analysis of data from the Ministry of Urban Development, for 22 corporations across the country, revealed that there was 312.04% increase in revenues in November 2016 (till 19th November), over the receipts they R
Analysts and economists have pointed out that this is a well-planned â€˜Surgical Strike on Cash‘, which could lead to a significant evolution of India to a less cash-dependent country.
Ever since PM Modi has announced demonetisation of Rs 500 and Rs 1000 notes, long queues have become a norm outside ATMs and banks.
As people are settling in with government's decision to ban Rs 500 and Rs 1000 notes, Vijayaraghavan G, Analyst - Agri-inputs, Midcaps, IDFC Securities, says government is taking initiatives to normalise the situation.