Amethi: With ATMs suddenly running dry in several states, Congress President Rahul Gandhi on Tuesday slammed Prime Minister Narendra Modi for what he described as destroying India’s banking system by ushering in “acchhe din” for fugitive jewellers Nirav Modi and Mehul Choksi. Gandhi also criticised Modi for his silence on[Read More…]
Tag: Cash crunch
There is more than adequate currency in circulation: Jaitley
New Delhi: Allaying fears of currency shortage in the country, Finance Minister Arun Jaitley on Tuesday said the government has reviewed the situation and “there is more than adequate currency in circulation”. “Have reviewed the currency situation in the country. Overall there is more than adequate currency in circulation and[Read More…]
RBI gets govt nod to print Rs 10 plastic notes
No proposal to withdraw Rs 2000 currency notes, says Jaitley
Finance Minister Arun Jaitley on Friday said there is no proposal to withdraw the Rs 2,000 notes that were introduced post-demonetisation. The Rs 2,000 banknotes were introduced along with new Rs 500 currency following the withdrawal of old Rs 500 and Rs 1,000 notes from November 9, 2016. “There is[Read More…]
‘It costs Rs 2.87 and Rs 3.77 to print new currency notes’
Demonetisation briefing: Manmohan Singh saved Patel from grilling by MPs
Former Prime Minister Manmohan Singh saved RBI Governor Urjit Patel on Wednesday from the possible grilling by a parliamentary committee over the demonetisation issue. While Patel was struggling with the tough questions by MPs, Singh intervened and said that the central bank and the Governor’s position as an institution should[Read More…]
Demonetisation: Cash crunch to normalise by February 2017: Report
Over 75 per cent of the total value of scrapped notes is expected to be back in the system by January-end and complete normalcy is likely in next two months, says a report. According to SBI’s research report Ecowrap, given the current phase of frantic printing, 50 per cent and[Read More…]
Venezuela delays demonetisation amid protests, looting
Venezuela government on Saturday extended the use of its 100-Bolivar bill until January 2, after its decision to demonetise the largest bill left the country to cash shortage, and sparked protests and looting. President Nicolas Maduro said the decision was pulled out because the promised higher-denomination were still unavailable because[Read More…]
Old Rs 500 notes valid till Dec 2 for fuel, air ticket purchase
The government on Thursday cut short the deadline of using old ₹500 notes at petrol pumps and for buying airline tickets at airports till December 2 instead of December 15 announced earlier. With effect from December 3, 2016, old ₹500 notes cannot be used for the purchase of petrol, diesel[Read More…]
Cash crunch may end soon with RBI substantially increasing supply of notes
Considering the current cash crunch situations at banks and ATMs, the government increased the printing of ₹ 500 notes. The officials are hopeful that the new stock of the elusive currency will ease the situation in the next few days. Banks across the nation continued to face cash scarcity with[Read More…]