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bank notes

RBI to procure 50 note verifying machines

RBI to procure 50 note verifying machines

Sun, Jul 30, 2017

As per the Request for Proposal (RFP), the machines should be computer based and microprocessor controlled and capable of processing, counting, sorting and authenticating banknotes into 'fit for circulation', 'unfit for circulation', 'reject notes', 'suspect/forged notes', and 'emission-wise sorting on design and series', among other categories.

Only 7% rise in transactions through cards post Demonetistion

Only 7% rise in transactions through cards post Demonetistion

Sun, Jul 16, 2017

Officials from various ministries gave a presentation to the Parliamentary Standing Committee on Finance on 'Demonetisation and Transformation towards Digital Economy'.

Rs 200 notes to be a reality soon; RBI places printing order

Rs 200 notes to be a reality soon; RBI places printing order

Tue, Jul 04, 2017

After introducing new notes of Rs 2000 and Rs 500, the RBI is all set to introduce new Rs 200 notes in the country.

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Cash source of black money generation: Piyush Goyal

Cash source of black money generation: Piyush Goyal

Sat, Feb 25, 2017

Declaring that he felt disappointed about the happenings in the chartered accountant profession that he himself was earlier part of, Goyal reminded the gathering about what Finance Minister Arun Jaitley had said on the aim of demonetisation.

India's credit growth projected to remain weak in range of 5-6% in FY17: ICRA

India's credit growth projected to remain weak in range of 5-6% in FY17: ICRA

Mon, Jan 30, 2017

ICRA has projected India's credit growth to remain at similar levels in the range of 5% to 6% in FY17 on the back of muted credit demand.

40% of all notes must go to rural areas, RBI tells banks

40% of all notes must go to rural areas, RBI tells banks

Tue, Jan 03, 2017

RBI said, "On observing that bank notes, being supplied to rural areas, at present, are not commensurate with the requirements of rural population, some steps have already been initiated."

Can't give info if Arun Jaitley, Arvind Subramaniam consulted before demonetisation: RBI

Can't give info if Arun Jaitley, Arvind Subramaniam consulted before demonetisation: RBI

Sun, Jan 01, 2017

Whether views of the Chief Economic Advisor and the Finance Minister were taken before the sudden announcement of demonetisation of high-value currency notes by Prime Minister Narendra Modi on November 8, the Reserve Bank of India (RBI) feels this query cannot be answered under the Right to Infor

RBI's latest figures: The math still doesn't add up

RBI's latest figures: The math still doesn't add up

Thu, Dec 22, 2016

RBI's latest release on banknotes issued to public till December 19, has brought in many questions. Parliament reply is the only place where the government has given a break up of the high denomination notes supplied. The RBI has never given this break up -- and that`s where the problem lies.

Nearly Rs 6 lakh crore withdrawn up to December 19, RBI says

Nearly Rs 6 lakh crore withdrawn up to December 19, RBI says

Wed, Dec 21, 2016

In this period, the Reserve Bank has issued to the banks and their branches, for distribution to the public, a total of 22.6 billion pieces of notes of various denominations of which 20.4 billion pieces belonged to small denominations of ₹ 10, 20, 50 and 100s and 2.2 billion belonged to higher denominations of ₹ 2000 and ₹ 500.

Did Arun Jaitley just hint at lower income taxes rates?

Did Arun Jaitley just hint at lower income taxes rates?

Tue, Dec 13, 2016

Jaitley said, "Future transaction would be substantially digital and once they are substantially digital, they would come in the tax net. Therefore, the future taxation level would be much higher than what is currently being collected."

RBI to soon issue new Rs 20, Rs 50 banknotes; old currency to remain legal tender

RBI to soon issue new Rs 20, Rs 50 banknotes; old currency to remain legal tender

Sun, Dec 04, 2016

Reserve Bank of India (RBI) announced on Sunday that it will soon issue new banknotes of Rs 50 and Rs 20 denomination.

Demonetization aftermath: SBI records nearly Rs 40,000 crore cash deposits so far

Demonetization aftermath: SBI records nearly Rs 40,000 crore cash deposits so far

Fri, Nov 11, 2016

Till Thursday, SBI saw cash deposits of Rs 31000 crore out of which Rs 700 crore were exchanged. In its Q2 review meeting held today, the bank said on Friday till now it has received Rs 22,000 crore of cash deposits and out of which Rs 723 crore were exchanged.

Banknotes ban effect: Transactions via RuPay cards nearly doubled

Banknotes ban effect: Transactions via RuPay cards nearly doubled

Fri, Nov 11, 2016

National Payments Corporation of India (NPCI) on Friday said “RuPay usage on Point Of Sale (PoS) / e-Commerce was around 8 lakh transactions a day compared with a daily average of 4 lakh transactions earlier. The value of transactions almost doubled.”

Currency demonetisation: Housing prices may see correction, says Knight Frank

Currency demonetisation: Housing prices may see correction, says Knight Frank

Wed, Nov 09, 2016

In a move to curb black money, Prime Minister Narendra Modi's on Tuesday said that Rs 500 and Rs 1000 currency notes will cease to be legal tender. India's real estate sector, the biggest generator of black money, is already feeling the pinch.

Elimination of high-denomination notes is a good thing; here's why

Elimination of high-denomination notes is a good thing; here's why

Wed, Nov 09, 2016

Kotak Institutional Equities said, “We see the government’s move as a positive for the economy in the medium term. The latest step appears to be the final one in the government’s systematic approach to remove black money from the economy.”

RBI issues new series of Rs 500, Rs 2,000 currency notes

RBI issues new series of Rs 500, Rs 2,000 currency notes

Wed, Nov 09, 2016

Hours after Prime Minister Narendra Modi on Tuesday announced the demonetisation of high value notes, the Reserve Bank of India (RBI) on Tuesday issued new series of notes for the Rs 500 and Rs 2,000 denomination with improved features and newer sizes.

Demonetisation of Rs 500 and 1,000 currency welcome: JD(U)

Demonetisation of Rs 500 and 1,000 currency welcome: JD(U)

Wed, Nov 09, 2016

The Centre's decision to do away with Rs 500 and Rs 1000 currency notes from midnight Tuesday to fight against black money was welcomed by the Janata Dal United JD (U) on Wednesday.

India abolishes larger banknotes in fight against graft, 'black money'

India abolishes larger banknotes in fight against graft, 'black money'

Wed, Nov 09, 2016

Prime Minister Narendra Modi on Tuesday announced that 500 and 1,000 rupee banknotes would be withdrawn from circulation at midnight to crack down on rampant corruption and counterfeit currency

RBI to issue Rs 20 notes with Urjit Patel’s signature

RBI to issue Rs 20 notes with Urjit Patel’s signature

Fri, Sep 16, 2016

Urjit Patel took charge as the 24th governor of the Reserve Bank of India (RBI) on September 5, after serving as the deputy governor since January 2013.

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