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Note Ban

Don't believe fake news! Rs 2000 notes printing stopped? Currency to be banned? Here is truth

Don't believe fake news! Rs 2000 notes printing stopped? Currency to be banned? Here is truth

Mon, Mar 16, 2020

The Modi government on Monday made it clear that no decision has been taken to discontinue printing of Rs 2,000 banknotes, and state-owned SBI and Indian Bank are reconfiguring ATMs for Rs 500 and Rs 200 notes.

Demonetisation: Revealed! Who placed government's proposal to ban Rs 500, Rs 1000 notes before RBI Board?

Demonetisation: Revealed! Who placed government's proposal to ban Rs 500, Rs 1000 notes before RBI Board?

Wed, Mar 13, 2019

Demonetisation, Note Ban: The government's proposal to ban Rs 500 and 1000 notes was placed by the then RBI Deputy Governor Rama Subramaniam Gandhi before its board, which resolved to back the move in "larger public interest" though some directors raised concerns about short-term negative impact

Demonetisation threw up political, economic puzzles: Arvind Subramanian

Demonetisation threw up political, economic puzzles: Arvind Subramanian

Mon, Dec 10, 2018

Subramanian, currently teaching at Harvard Kennedy School, and here for the launch of his book "Of Counsel: The Challenges of the Modi-Jaitley Economy", published by Penguin, referred to the chapter "The Two Puzzles of Demonetisation -- Political and Economic".

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Prime Minister Narendra Modi says cash crackdown is a fight for the poor

Prime Minister Narendra Modi says cash crackdown is a fight for the poor

Tue, Feb 07, 2017

Prime Minister Narendra Modi on Tuesday defended his decision to abolish high denomination bank notes that has left the economy reeling, calling it a "fight" for the poor.

Deposits in lakhs made post-note ban under tax scanner: Officials

Deposits in lakhs made post-note ban under tax scanner: Officials

Thu, Feb 02, 2017

The first phase data from the government`s "Operation Clean Money", launched earlier this week, has revealed deposits worth lakhs of crores in old notes made after demonetisation into accounts and are being scrutinised by Indian tax authorities, senior officials have said.

Note ban: Govt spent Rs 94 crore on ads to popularise e-payments

Note ban: Govt spent Rs 94 crore on ads to popularise e-payments

Thu, Feb 02, 2017

Nearly Rs 94 crore has been spent by the government for spreading awareness about digital payments and popularising less-cash economy post demonetisation, the Rajya Sabha was informed today.

Demonetisation to impact banks' asset quality: Fitch

Demonetisation to impact banks' asset quality: Fitch

Tue, Jan 31, 2017

Stressed-asset ratio for Indian bank predicted to increase to 12% for the current fiscal earlier, is expected to go up further.

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.

Jan Dhan deposits rose Rs 29,000 crore in month post-note ban

Jan Dhan deposits rose Rs 29,000 crore in month post-note ban

Mon, Jan 30, 2017

Deposits in Jan Dhan accounts have grown by more than 50% since the demonetisation announcement.

Smartphone sales fall 30% in top 50 Indian cities in November: IDC

Smartphone sales fall 30% in top 50 Indian cities in November: IDC

Tue, Jan 24, 2017

Smartphone sales in the top 50 Indian cities fell sharply by 30.5 % in November 2016 over the previous month, hit by double whammy of liquid cash crunch and cyclical softness post festive season, research firm IDC said today.

Note ban negative for jobs, SMEs, rural demand: Assocham

Note ban negative for jobs, SMEs, rural demand: Assocham

Mon, Jan 23, 2017

Demonetisation will leave a negative impact on small and medium enterprises (SMEs), rural consumption and job creation while the large organised sectors stand to benefit in the long term, industry chamber Assocham said on Sunday.

Note ban has caused Rs 20,000-50,000 per acre loss to farmers

Note ban has caused Rs 20,000-50,000 per acre loss to farmers

Sun, Jan 22, 2017

India`s cash-driven agri sector continues to reel under the effects of demonetisation, with farmers growing fruits and vegetables suffering "huge losses," say farm leaders who want the Union budget to "compensate" them for these losses.

Toyota sees flat sales in India this year on note ban blues

Toyota sees flat sales in India this year on note ban blues

Sun, Jan 22, 2017

Japanese carmaker Toyota is expecting its vehicle sales in India to remain flat during the current year mainly on account of uncertainty in the market post demonetisation.

Congress demands RBI Governor Urjit Patel's resignation, holds protests at RBI offices

Congress demands RBI Governor Urjit Patel's resignation, holds protests at RBI offices

Wed, Jan 18, 2017

The Congress on Wednesday held nation-wide protests against "poor implementation" of demonetisation and protested RBI offices in different state capitals demanding restoration of the apex bank`s autonomy and resignation of Reserve Bank of India (RBI) Governor Urjit Patel.

India's GDP growth to drop, but rebound likely in second half of 2017: Nomura

India's GDP growth to drop, but rebound likely in second half of 2017: Nomura

Wed, Jan 18, 2017

India's growth numbers are likely to slide in the next two quarters, but a sharp rebound is expected in the second half (H2) of 2017 as the demonetisation impact will be transitory and not long lasting, says a Nomura report.

Note ban to benefit jewellery sector in long run: Industry

Note ban to benefit jewellery sector in long run: Industry

Tue, Jan 17, 2017

The jewellery industry, which suffered and saw about 80% drop in demand following the demonetisation, is slowly recovering, although it may take over a year for things to become normal, market experts said.

Post demonetisation, consumer demand likely to be normal by April-June quarter of 2017: CII

Post demonetisation, consumer demand likely to be normal by April-June quarter of 2017: CII

Fri, Jan 13, 2017

Terming demonetisation as a right long-term decision despite short-term "disruptions", CII President Naushad Forbes has said consumer demand is expected to return to full normalcy in April-June quarter after seeing a 20% fall in the 50-day period after the note ban.

HSBC pegs India's GDP growth at 6.3% in 2016-17 on note ban pains

HSBC pegs India's GDP growth at 6.3% in 2016-17 on note ban pains

Mon, Jan 09, 2017

Foreign brokerage HSBC on Monday projected sharply lower growth numbers for the year at 6.3%, way lower than the official CSO estimate of 7.1% for 2016-17.

Income Tax detects Rs 4,807 crore black income; seizes Rs 112 crore new notes

Income Tax detects Rs 4,807 crore black income; seizes Rs 112 crore new notes

Sun, Jan 08, 2017

Over Rs 4,807 crore of undisclosed income has been detected while Rs 112 crore worth new notes have been seized by the Income Tax department as part of its country-wide operations against black money hoarders post demonetisation.

Take extra care to lessen suffering of poor post note ban, says president Pranab Mukherjee

Take extra care to lessen suffering of poor post note ban, says president Pranab Mukherjee

Thu, Jan 05, 2017

Extra care must be taken to alleviate sufferings of the poor triggered by economic slow down which has become unavoidable post demonetisation, President Pranab Mukherjee said on Thursday.

Note ban most disruptive policy innovation since 1991, says former RBI governor D Subbarao

Note ban most disruptive policy innovation since 1991, says former RBI governor D Subbarao

Thu, Jan 05, 2017

Former Reserve Bank of India (RBI) governor D Subbarao on Thursday termed demonetisation as "creative destruction and the most disruptive policy innovation since 1991 reforms" that has helped destroy blackmoney.

Digital transactions not short-term substitute for cash: PM Modi

Digital transactions not short-term substitute for cash: PM Modi

Thu, Dec 29, 2016

"They also deliver greater tax compliance," Modi added.

Note ban policy: RBI's autonomy under threat, say experts

Note ban policy: RBI's autonomy under threat, say experts

Thu, Dec 29, 2016

"It all depends on the chemistry between the finance minister and the governor".

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