India has a brand new currency note – a ₹2,000 note – the highest denomination in circulation currently. The new currency note was introduced in the backdrop of a massive disruption of India’s Financial System – with the demonetisation of existing ₹ 500 and ₹ 1,000 currency notes, which formed[Read More…]
Tag: Currency
Opposition parties ganged up against Modi: BJP
BJP on Tuesday said while Prime Minister Narendra Modi is working to curb black money and corruption with his demonetisation exercise, rival parties have “ganged up” against him. Terming demonetisation as a ‘surgical strike’ on black money, BJP National Secretary Shrikant Sharma claimed that the general public is in the[Read More…]
Supreme Court refuses to stay demonetisation notification
The Supreme Court on Tuesday refused to stay the Nov 8 government notification demonetising ₹ 500 and ₹1,000 currency and asked the Centre to take immediate measures to alleviate the hardships and sufferings of the traumatised common man who is “forced” to stand in queues to withdraw a little[Read More…]
Demonetisation takes toll on cash-strapped people
Following its demonetisation decision on Nov 8, government claims that the inconvenience is temporary but harsh reality is that the decision has taken toll on people. Ironically, Prime Minister Modi also claimed that his demonetisation decision was somewhat ‘kadak’ (strong) linking it to his ‘chaiwallah’ background. “When I was young,[Read More…]
Cong, 7 oppn parties meet to formulate joint strategy
Seeking to corner the government in Parliament on the demonetisation issue, major opposition parties, including arch rivals TMC and CPI(M), on Monday held deliberations to finalise a common strategy alleging that the decision was a “scripted scam” which was leaked to the ruling BJP much in advance. The meeting, held[Read More…]
Parking fee at Airports waived for a week: Govt
Government on Monday said parking charges at airports across country are being waived till the midnight of November 21, as people continue to face difficulties in tendering change following the demonetisation of Rs 500 and Rs 1,000 notes. The directive would be applicable on both Airports Authority of India (AAI)[Read More…]
My decision is Karak (strong): PM
Lashing out at Congress and other parties for criticizing government’s decision to demonetise Rs ₹ 500 and ₹ 1000 notes, PM Modi said his decision is a little “karak” (strong). He was drawing an analogy with his early days as a tea vendor. Prime Minister said “My decision is a[Read More…]
‘3 lakh cr old notes deposited post demonetisation, ATM withdrawal limit increased’
Around ₹ 3 lakh crore of old ₹ 500 and ₹ 1000 notes were deposited in banks post demonetisation while ₹ 50,000 crore has been dispensed to public, Finance Ministry said. The banking system has handled about 18 crore transactions during the period, it said on Sunday, adding that issuance[Read More…]
Banks closed on Guru Nanak Jayanthi; queues get longer at ATMs
Cash-strapped people started making beeline outside ATMs from early morning on Monday but with limited success as most of cash vending machines are running dry and banks remained closed in many parts of the country due to Guru Nanak Jayanthi. Scuffle and heated exchanges were reported from ATMs and banks[Read More…]
Demonetisation: People loot ration stores, pelt stones on banks, collapse
In view of demonetization, the government has extended working hours of banks and claimed that inconvenience is temporary but the condition on the ground is worst as cash-strapped people looted ration stores, pelted stones on banks and some of them collapsed out of exhaustion and stress across the country. Following[Read More…]
Except design, nothing changed in new notes: official
Putting speculations to rest, an official on Friday said no new security features has been added to newly designed currency note ₹ 2000 . “Since the decision to introduce the new notes was taken only six months ago, there was no time to alter the security features. Only the design[Read More…]
Demonetisation is huge scam: Kejriwal
Delhi Chief Minister Arvind Kejriwal on Saturday alleged demonetistaion of ₹500 and ₹1,000 is huge scam and it should be roll back immediately. “Before the PM announced the move on Tuesday, the BJP and its friends had been alerted and they had already stashed their cash,” he said. He further[Read More…]
People point out typos on new currency notes
As soon as people got their hands on the new notes, a lot of them started pointing out an apparent typo in it and circulated images on social media. On November 8, it was announced that all ₹500 and ₹1,000 notes would be considered illegal currency in India, and that[Read More…]
Put Bose’s image on currency: Netaji Kin
Family members of Netaji Subhash Chandra Bose have appealed to Prime Minister Modi that Bose’s image must also be used in new notes. They say it has been a long standing request which went unnoticed during and the previous Congress regime. “The demand to have Netaji Subhash Chandra Bose’s photograph on[Read More…]
Don’t panic, your hard earned money is safe: Govt
Finance Ministry on Friday said there is no need to panic and depositing junked ₹ 500 or 1,000 notes of up to ₹ 2.50 lakh in bank accounts will not be reported to the tax department. It also cautioned people against depositing the money of unknown people in their own[Read More…]
Tragic! Senior citizen dies while waiting in line to exchange currency notes
In a tragic incident, a 73-year-old man, who was standing in a queue to exchange his old currency notes, collapsed and died in suburban Mulund on Friday afternoon, police said. Vishwanath Vartak, a senior citizen, was standing in a queue outside a branch of the State Bank of India in[Read More…]
PM loses 3 lakh twitter followers post demonetization
A day after Prime Minister announced the withdrawal of Rs 500 and Rs 1,000 notes from circulation, he lost over 3 lakh followers on twitter. On Nov 8th, Modi, in a shock announcement, ordered the withdrawal designed to tackle widespread corruption and tax evasion. Following the announcement, on 9 November,[Read More…]
Snatchers find ₹ 500 notes in purse, return it
In a rare case, robbers returned purse to victim after they found denominations of ₹ 500 and slapped him for not keeping ₹ 100 notes. Two bike-borne robbers snatched purse containing ₹ 1,500 from Vikas Kumar, a labourer, who works at a construction site in Greater Noida. Kumar said he[Read More…]
Sex workers, escorts take the digital route, use Paytm, MobiKwik
A day after Prime Minister Narendra Modi announced that notes of ₹500 and ₹1,000 will become “illegal”, sex workers and escorts alike have taken to mobile wallets in accepting money, according to news report published in the Hindustan Times. “Only Paytm users call or message me, otherwise don’t disturb …[Read More…]