Tag: Demonetisation
ED seized Rs 7.3 crore, 5.5 kg gold post demonetisation: Centre
Rs 7.3 crore in currency and 5.5 kg gold have been seized by Enforcement Directorate (ED) during search operations post demonetisation, the government said on Tuesday. 18 persons were arrested and 17 other where identified in relation with the alleged money laundering activities following demonetisation move, Finance Minister Arun Jaitley[Read More…]
RBI saved rupee from being unstable says NITI
Modi justifies demonetisation in Lok Sabha
Note-ban contributed to domestic violence
Implementing demonetisation on the night of November 8 saw a sudden rise in cases of domestic violence over the next few weeks as men discovered that their wives had saved money without their knowledge, an analysis of complaints at the country’s first One Stop Crisis Centre (OSCC) in Bhopal has[Read More…]
Indian housewives’ years of saving added to junk
Demonetisation has affected normal life says Chidambaram
BJP government’s demonetisation scheme of scrapping high-value currency notes in order to solve the problem of black money in India had a critical impact on the majority of the population in the country, said former Union minister P Chidambaram. Addressing a discussion on ‘Demonetisation scheme’, he claimed that the ban on high-value currency[Read More…]
Possession of scrapped notes to be punishable
The government on Friday introduced a bill in Lok Sabha that provides for holding, transfer and receiving of old Rs 500 and Rs 1000 currency notes a criminal offence, punishable with a minimum fine of Rs 10,000. Holding of more than 10 scrapped notes of Rs 500/1000 denomination will be[Read More…]
Rs 94cr spent to popularize digital payments: Govt
ED files chargesheet against Axis Bank officials in money laundering case
RBI to launch new Rs. 100 currency note soon
The Reserve Bank on Thursday said it will soon put into circulation new Rs. 100 denomination notes in market. New Rs 100 notes will be similar to the design of the ones in Mahatma Gandhi Series-2005. “The Reserve Bank will shortly issue Rs 100 denomination banknotes in the Mahatma Gandhi[Read More…]
RBI may soon lift weekly withdrawal limit
Bank staff colluded to exchange old notes worth Rs 71.5 cr: Centre
IT department asks taxpayers to verify online deposits made post demonetisation
Income Tax department on Thursday asked taxpayers to verify online the deposits they have made in their accounts post demonetisation and respond to queries of any mismatch. The department is using data analytics for comparison of deposits made after the November 8 decision to scrap high-value banknotes with information in[Read More…]
Demonetisation great move in the longer term, says Apple CEO
Apple Inc CEO Tim Cook lauded the demonetisation drive taken by Centre as a “great move” in the longer term. “Despite the demonetisation move in India that created lots of economic pressure there last quarter, despite that, we had all-time record revenue results, and so we were very happy about[Read More…]
I-T dept to send SMSes, emails to 18 lakh suspicious cash depositors
18 lakh people, who made suspicious cash deposits post demonetisation, have been identified by the Income Tax department. I-T department will send emails and SMSes seeking explanation about their source of funds. Those who deposited over Rs 5 lakh will also come under the I-T scanner. These people will have[Read More…]
Black money could be Rs 3 lakh crore or Rs 7.3 lakh crore, says Economic Survey
The Economic Survey, tabled in Parliament on Tuesday, said that the amount of potential black money in the system could be Rs 3 lakh crore or Rs 7.3 lakh crore. The survey has used assumption of soil rates- rate at which notes are considered to be too damaged to use[Read More…]
RBI removes cash withdrawal limits from ATMs
RBI rejects EC’s proposal to hoist cash withdrawl limits
The Reserve Bank of India has rejected the Election Commission’s proposal to increase the weekly withdrawal limit for those contesting the Assembly elections. There will be no change in the withdrawal limit till March 11, when the poll results would be declared. Currently, ATM withdrawal limit stands at Rs 10,000 a[Read More…]
RBI rejects EC’s plea for raising withdrawal limit for candidates
UP Polls not a referendum on demonetisation drive: Amit Shah
BJP President Amit Shah said that up coming UP Assembly Polls will not exactly be a referendum on the demonetisation move of the Narendra Modi Government but if the Opposition wants to play it that way then the BJP is game for it. In an exclusive interview with CNN-News 18,[Read More…]
Scrapped notes for PM funds leave vigilance department clueless
Frauds use PM’s name for fake digital transaction
All eyes on Union Budget 2017
After the Supreme Court dismisses the plea seeking to reschedule the date of budget on Monday, now all eyes are on Union Budget 2017 as alot sops are expected to woo the voters ahead of Assembly elections in five states. This Union budget 2017 is the first budget after demonetisation,[Read More…]
Modi’s new budget prioritises consumers before taxes
As Indian economy struggles with low consumer rate post demonetisation, PM Modi is expected to lower taxes in the Feb. 1 budget to spur consumption. The risk is that a cut in tax will rob Modi of a short-term revenue rush, which his administration had been endorse as proof of[Read More…]