INDIA

Demonetisation

RBI Annual Report

98.96% of banned Rs 1000, Rs 500 notes returned after demonetisation: RBI

30.08.17 - TEAM PT

Reserve Bank of India’s annual report shows that 98.96% of Rs 1000 notes and Rs 500 notes that were banned on 8 November had returned to it by the end of June.

According to RBI estimates, a total of Rs. 15.28 lakh crore in banned 500- ...

No plan to re-introduce Rs. 1,000 note; don't withdraw more money than needed: Govt.

22.02.17 - TEAM PT

The government has no plans to re-introduce 1,000 rupee notes and is focusing to increase production of lower denomination currencies to address cash shortage, Economic Affairs Secretary Shaktikanta Das said today.

"No plans to introduce Rs 1000 notes. Focus is on production and supply of Rs ...

Manmohan Singh comes to rescue of RBI Governor as House panel criticises him

18.01.17 - Agencies

Members of the Parliamentary Standing Committee on Finance on Wednesday criticised Reserve Bank of India Governor Urjit Patel for his inability to answer queries related to demonetisation.

"Patel was unable to tell us how much money has come back to the banks," said Trinamool Congress MP ...

ATM withdrawal limit raised from Rs. 4,500 To 10,000 a day,says RBI

16.01.17 - TEAM PT

The Reserve Bank of India on Monday increased the withdrawal limit from ATM's from Rs 4,500 to Rs 10,000 per day per card. However, the weekly withdrawal limit from banks remain at Rs 24,000 per week.

"The limit on withdrawals from ATMs has been enhanced from ...

PM Modi thinking of next generation, Rahul Gandhi of disrupting next Parliament session: Arun Jaitley

08.01.17 - TEAM PT

Ahead of the budget session of parliament, Union finance minister Arun Jaitley has attacked Rahul Gandhi, saying he is interested only in disrupting parliament. In his blog today on the ban on 500 and 1000 rupee notes announced on November 8, Mr Jaitley also used ...

President Mukherjee says demonetisation may lead to temporary slowdown of economy

05.01.17 - TEAM PT

In his first remarks after the 50-day deadline to deposit old notes lapsed on December 30, President Pranab Mukherjee on Thursday warned that Prime Minister Narendra Modi’s demonetisation drive may lead to a temporary slowdown of the economy. "Demonetisation, while immobilising black money and fighting ...

Rahul, Mamata call for Modi's resignation 'if note ban situation doesn’t improve after 50 days'

27.12.16 - TEAM PT

A group of opposition parties, including the Congress, wondered on Tuesday if Prime Minister Narendra Modi would resign if a nationwide financial chaos following the recall of high-value didn’t normalise after the December 30 deadline set by him.

Addressing a joint press conference of eight Opposition ...

Demonetization a short-term pain, won't shy away from taking tough decisions: Modi

24.12.16 - TEAM PT

Prime Minister Narendra Modi on Saturday said that his government would not shy away from taking more tough steps to tackle black money, while speaking at the National Institute of Securities Markets (NISM) in Raigad.

Addressing a gathering, Modi said that the demonetization is a short-term ...

One more Shocker: Now you CAN'T Deposit above Rs5000 more than once

19.12.16 - TEAM PT

On the 41st day of Prime Minister Narendra Modi’s 50-day promise to get back normalcy in common man’s life post 8 November demonetisation announcement, yet another promise is broken.

The government has in new restrictions said that deposits of more than 5,000 rupees in old 500 ...

Buying petrol, insurance via digital mode to be cheaper: Arun Jaitley

08.12.16 - TEAM PT

In bid to promote less-cash economy, the government today announced discount on an array of services from buying petrol to insurance and railway tickets through the digital mode and waived service tax on card transactions of up to Rs 2,000.

The government said for those using ...

Cash crunch will ease by year end: Arun Jaitley

02.12.16 - TEAM PT

Finance Minister Arun Jaitley said on Friday that the cash crunch that followed the scrapping of Rs. 500 and Rs. 1,000 notes would ease by December 30 with the release of new Rs. 500 and Rs. 2,000 notes.

Mr. Jaitley, however, said the amount of new ...

Demonetisation: Govt not planning to extend Dec 30 cut-off for cash deposits

29.11.16 - TEAM PT

Government today said sufficient cash is available with RBI and banks, and it is not considering extending the deadline of December 30 for deposit of invalid Rs 500 and Rs 1,000 notes.

The statement was made in the Rajya Sabhaeven as people queued up at banks ...

Demonetisation: Usage of old Rs 500 notes extended till December 15.

24.11.16 - TEAM PT

The Centre on Thursday extended the usage of old Rs 500 notes for payment of public utilities bill till December 15, but people cannot exchange the banned notes any longer. Also, the Rs 1000 notes has been banned from public use from now on including ...

Toll Exemption on National Highways Extended Till December 2

24.11.16 - TEAM PT

To ensure smooth traffic flow and mitigate currency hardships, the government has further extended the date for toll exemption on national highways till the midnight of December 2.

The government said Rs 500 notes will be accepted at toll plazas on national highways from December 2 ...

Demonetization: Relief for farmers ahead of Rabi season, old currency can be used to buy seeds

21.11.16 - TEAM PT

Days after allowing farmers to make cash withdrawals up to Rs 25,000 per week against sanctioned crop loans, the Centre on Monday announced that they will now be allowed to use old high denomination notes for purchasing seeds. Farmers can now use old Rs 500 ...

Demonetisation: No Plan To Seal Bank Lockers Or Confiscate Jewellery, Clarifies Finance Ministry

18.11.16 - TEAM PT

Scotching rumours, the Finance Ministry said on Friday there is no move to seal bank lockers and neither it is true that the ink of the new Rs 2,000 notes has been bleeding in some cases.

"Myth: Next move is to seal bank lockers and confiscate ...

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Demonetisation

Reserve Bank of India’s annual report shows that 98.96% of Rs 1000 notes and Rs 500 notes that were banned on 8 November had returned to it by the end of June. According to RBI estimates, a total of Rs. 15.28 lakh crore in banned 500- ...

The government has no plans to re-introduce 1,000 rupee notes and is focusing to increase production of lower denomination currencies to address cash shortage, Economic Affairs Secretary Shaktikanta Das said today. "No plans to introduce Rs 1000 notes. Focus is on production and supply of Rs ...

Members of the Parliamentary Standing Committee on Finance on Wednesday criticised Reserve Bank of India Governor Urjit Patel for his inability to answer queries related to demonetisation. "Patel was unable to tell us how much money has come back to the banks," said Trinamool Congress MP ...

The Reserve Bank of India on Monday increased the withdrawal limit from ATM's from Rs 4,500 to Rs 10,000 per day per card. However, the weekly withdrawal limit from banks remain at Rs 24,000 per week."The limit on withdrawals from ATMs has been enhanced from ...

Ahead of the budget session of parliament, Union finance minister Arun Jaitley has attacked Rahul Gandhi, saying he is interested only in disrupting parliament. In his blog today on the ban on 500 and 1000 rupee notes announced on November 8, Mr Jaitley also used ...

Prime Minister Narendra Modi on Saturday said that his government would not shy away from taking more tough steps to tackle black money, while speaking at the National Institute of Securities Markets (NISM) in Raigad. Addressing a gathering, Modi said that the demonetization is a short-term ...

On the 41st day of Prime Minister Narendra Modi’s 50-day promise to get back normalcy in common man’s life post 8 November demonetisation announcement, yet another promise is broken. The government has in new restrictions said that deposits of more than 5,000 rupees in old 500 ...

In bid to promote less-cash economy, the government today announced discount on an array of services from buying petrol to insurance and railway tickets through the digital mode and waived service tax on card transactions of up to Rs 2,000. The government said for those using ...

Finance Minister Arun Jaitley said on Friday that the cash crunch that followed the scrapping of Rs. 500 and Rs. 1,000 notes would ease by December 30 with the release of new Rs. 500 and Rs. 2,000 notes.Mr. Jaitley, however, said the amount of new ...

Government today said sufficient cash is available with RBI and banks, and it is not considering extending the deadline of December 30 for deposit of invalid Rs 500 and Rs 1,000 notes. The statement was made in the Rajya Sabhaeven as people queued up at banks ...