Prime Minister Narendra Modi on Friday listed demonetisation as one of the successful measures taken by the government to tackle black money as he urged the tax officials to improve India’s tax administration by 2022. His statement comes two days after the Reserve Bank of India released data which showed[Read More…]
Tag: Demonetisation
Cash deposits of Rs 2.89 lakh crore post demonetisation under radar: I-T dept
The Central Board of Direct Taxes (CBDT) on Thursday said that cash deposits of Rs 2.89 lakh crore, deposited after demonetisation, is under the radar of the income tax department. As many as 9.72 lakh persons have deposited the stated cash in 13.33 lakh accounts, the department said. Around 14,000[Read More…]
Viral image of new Rs 50 notes makes internet go crazy
Photos to unveiled Rs 50 denomination notes is going viral on the internet. However, there is no official word on these images that have gone viral. In December last year, the Reserve Bank of India(RBI) had said that it will issue Rs 50 and Rs 20 notes with numerals in[Read More…]
How PM Modi got demonetisation figures when RBI is still counting?
The Congress party on Wednesday took a jibe at PM Modi over the figures quoted in his Independence Day speech on demonetization asking him how he knew that Rs 3 lakh crore had come into the banking system when the RBI was still counting seized notes. “The Prime Minister said[Read More…]
GST and demonetisation will be part of NCERT textbooks from 2018
The National Council of Educational Research and Training (NCERT) on Thursday decided to incorporate content on GST and demonetisation in the reprint editions of economics, business studies, accountancy and political science books from 2018, as per the reports. “NCERT has decided to incorporate the contents related to GST and demonetisation[Read More…]
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…]
No more printing of Rs 2000 notes by Reserve Bank of India
It is reported that The Reserve Bank of India stopped printing Rs 2000 notes in March this year. The federal bank is also not likely to print any more Rs 2,000 notes in the current financial year. The RBI, meanwhile, has shifted its focus on printing the newly approved denomination of[Read More…]
Another 5.56 lakh people found to have inconsistent tax profiles with money deposited post demonetisation
The Income Tax Department has identified another 5.56 lakh people whose tax profiles are found to be inconsistent with the money deposited by them post demonetisation in October last year. With an aim to detect black money generation post demonetisation, the I-T department carried out the second phase of ‘Operation[Read More…]
Modi govt looking for math tutor, Rahul Gandhi mocks govt as RBI still counting demonetised notes
Taking a jibe at the Centre, Congress vice-president, Rahul Gandhi, on Thursday slammed the RBI governor, Urjit Patel, as he defended the delay in the counting of old demonetised notes of Rs 500 and Rs 1,000. He took to Twitter to slam the RBI chief. He wrote, “Government of India[Read More…]
Allow people with valid reasons to deposit demonetised notes: SC asks govt
The Supreme Court has asked the government and Reserve Bank of India (RBI) on Tuesday to provide an opportunity to the people who couldn’t submit demonetised bank notes before the December 30, 2016 deadline. “If someone has a genuine reason, you cannot deny him the opportunity to deposit the money,” a[Read More…]
Post demonetisation drive, police seizes fake currency from BJP leader’s house
While BJP’s one of the main agenda is to drive away ‘black-money’ from the country which is why PM Modi chose to ban currencies overnight, Kerala Police seized fake currency notes and printing machines from the house of a BJP local leader at Sree Narayanapuram near Kodungallur in the district.[Read More…]
FY17 started even before demonetisation, says Arun Jaitley on slowdown of GDP
Finance Minister Arun Jaitley indicated that it may take long for the people to know the actual deposits received in old notes post-demonetization. However, he said that there can be no deadline as the RBI has to count deposits in the range of Rs 14-15 lakh crore. “Let us be[Read More…]
Chidambaram slams government, says demonetisation made economy worse
Senior Congress leader P. Chidambaram on Thursday said he was right in predicting slow growth of the economy and that demonetisation made it worse. “I had said demonetisation will affect growth by 1-1.5 per cent. Spot on. GVA down by 1.3 per cent,” said the former finance minister. “The economy[Read More…]
Manmohanomics comes true, GDP slows down post demonetisation
India’s Gross Domestic Product (GDP) witnessed a sharp slowdown of 6.1% in Q4 from 7% in the previous quarter, said the data released by the government on Wednesday. Over the quarters of FY2017, GDP growth has spotted a downtrend from 7.9% in Q1 to 7.5% in Q2 to 7.0% in[Read More…]
75 per cent currency back in circulation: RBI
Post the demonetisation move that came with its fair set of pros and cons, the market is back to running on currency notes now. But only 75 per cent of the currency is back in circulation, as per a recent statistical data released by the Reserve Bank of India( RBI).[Read More…]
Corruption thriving after demonetisation: Yechury
Demonisation won, not demonetisation: Kapil Sibal
New India is the dream of 125 crore Indians: PM Modi
Prime Minister Narendra Modi on Sunday said that New India is not a government scheme or a political idea but a unified call of 125 crore Indians. “New India is not a government scheme or a matter of politics. It manifests the strength of each and every Indian, who will[Read More…]
CBI books two SBI officers for illegal currency conversion
Deadline for returning old notes could be extended
Demonetised notes worth Rs 46.5 lakh seized in UP
RBI gets govt nod to print Rs 10 plastic notes
No direct link between demonetisation and agricultural prices: Radha Mohan Singh
Central government on Friday said that there is no “direct link” between demonetisation and the prices of agricultural commodities. “There is no direct link between demonetisation and the prices of agricultural commodities,” Agriculture Minister Radha Mohan Singh said in Rajya Sabha. He added that the government had taken enough steps[Read More…]
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…]