Tag: Currency

Sensex down 150 points, rupee at 73

Despite falling rupee, India in exceptional period of stability: Finance Ministry official

As the Indian rupee plunged to a fresh record low of 70.60 to a US dollar on Wednesday, a top government official said there is no need to be alarmed as despite the short-term volatility, the country is going through “an exceptional period of stability”. The official said if one takes the long-term view, the rupee is not depreciating[Read More…]

Myanmar condemns false news of demonetisation

Myanmar condemns false news of demonetisation

Myanmar’s Presidential Office has denied that it has issued an executive order to demonetise banknotes, saying that legal action will be taken against perpetrators of the fake news, media reported on Wednesday. Director-General and Spokesman of the President’s Office U Zaw Htay refuted the false executive order proliferating on Facebook,[Read More…]

US dollar rises against most currencies

The US dollar index increased against most other major currencies as investors bought the dip after the previous day’s sharp decline. In late New York trading on Monday, the euro fell to $1.1691 from $1.1725 in the previous session, and the British pound was down to $1.3101 from $1.3135 in[Read More…]

Rs 200 notes to hit market by Deepawali

Rs 200 notes to hit market by Deepawali

The finance ministry had given the go-ahead to print Rs 200 notes in July. It was also said that the Rs 2,000 were no longer being printed in a bid to push more of the Rs 200 notes into the market. Rs 200 note will be smaller in size and[Read More…]

Demonetisation: Indian services output shrinks

Indian services activity contracted in November dragged demand lower after dmonetisation , a private survey showed on Monday. The Nikkei India Services Business Activity Index slumped to 46.7 in November from October’s 54.5, data compiled by IHS Markit show. This is the first contraction since June 2015 and the sharpest[Read More…]

PM seeks views of people on demonetisation

Prime Minister Narendra Modi on Tuesday asked the people to directly convey their views to him on demonetisation via his App. He asked the public to participate in a survey where a number of questions have been posed with regard to scrapping of old ₹ 500 and ₹ 1000 currency[Read More…]

Uncritical compliance isn’t a desirable trait

It is disturbing to see how readily people comply with whatever it is the State has to order. And when I speak of compliance, it is not that there be an attempt to scuttle every move, but that there at least be made some critical evaluation of an order/ regulation.[Read More…]

‘Indelible ink removal’ trends on Google

Following the government’s decision to mark bank users’ fingers using hard-to-remove ink to stop multiple visits to exchange currency, ‘Indelible ink removal’ was trending on Google. With motive to reduce the crowd at banks to exchange the demonetization, the Economic affairs secretary Shaktikanta Das, on Nov 15, said banks will[Read More…]

Goa government employees demand salary in cash

Goa government employees have demanded that their salary for the current month be paid in cash rather than be deposited in bank accounts, considering the difficulties faced to withdraw money. Goa Government Employees Association (GGEA), in a written communication to Chief Minister Laxmikant Parsekar, said, “to make the withdrawal of[Read More…]

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