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Latest Articles in black money

Note Ban Gains 'Highly Uncertain', Says Fitch

Benefits of demonetisation are "highly uncertain" and the potential positives are unlikely to be strong or last long enough to make a significant difference to government finances or medium-term growth prospects

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Board Recommended Note Ban After Govt Advice: RBI To Parliamentary Panel

Contrary to popular belief, it was the Government which had "advised" the Reserve Bank to junk Rs 500/1000 notes on November 7 and the board of the central bank the very next day recommended the demonetisation

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Tax Evasion Suspected In Rs 3-4 Lakh Crore Deposits Post Note Ban

As it analyses bank deposits post- demonetisation, the government has found that an estimated Rs 3-4 lakh crore of tax-evaded income could have been deposited during 50-day window provided to get rid of junked Rs 500/1000 notes

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Playing Pro-poor Card Ahead Of Assembly Polls, PM Modi Says Note Ban To Lift Their Life

Playing the pro-poor card, Prime Minister Narendra Modi has said they are the focus of his government and projected demonetisation as a long-term tool to fight black money and corruption to improve their lives

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Note Ban Most Disruptive Policy Innovation Since 1991, Says RBI Chief D Subbarao

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

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Demonetisation: Alternate Measures Could Have Adopted To Tackle Black Money

Implementation of stricter laws and regulations such as imposing much higher tax rates on black money coupled with civil punishments

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Black Money In Polls: Election Commission To Deploy 400 Observers In 5 States

The Election Commission will deploy about 400 expenditure observers, drawn from the IRS and other central services, to check use of black money and other illegal inducements in the Assembly polls in five states

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NRIs Need To Show Old Notes To Customs At Airport

Non resident Indians and Indian nationals abroad can deposit up to Rs 25,000 of the demonetised currency during the 3-6 month grace period, but only if they show the junked notes to Customs officials at the airport and get declaration form stamped

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PM Modi Defends Note Ban, Announces Sops

Prime Minister Narendra Modi announced a slew of incentives to the poor, farmers, women and small businesses on Saturday in a special New Year's address, and defended his shock decision to abolish high denomination bank notes

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RBI Raises ATM Withdrawal Limit To Rs 4,500 From Rs 2,500 Per Day From January 1

In a relief to common man, the Reserve Bank has said cash withdrawal limit from ATMs will be increased to Rs 4,500 per day from the current Rs 2,500 from January 1

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Ordinance Criminalising Holding Junked Notes Gets President's Assent

In a bid to check a parallel economy being run on junked currency, the government on Friday made holding, transfer and receiving of the demonetised note a criminal offence, punishable with a minimum fine of Rs 10,000

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People Line Up At Banks To Deposit Savings Or See Them Disappear

Indians lined up outside banks across the country on Friday, the last day for them to deposit their savings or see them become worthless after large denomination notes were scrapped in a bid to fight corruption

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Demonetisation: Deadline To Deposit Junked Notes Ends Today

People will have time to exchange the currency notes at designated RBI counters till March 31 after giving valid reasons for not depositing defunct notes in their accounts by December 30

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Demonetisation To Have Transformative Effect On Economy, Says RBI Governor Urjit Patel

RBI Governor Urjit Patel on Thursday said the demonetisation exercise will have "far reaching changes" towards a transformative effect on the economy going forward, despite some short-term disruptions and "public hardship"

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Minimum Rs 10,000 Fine For Holding Old Notes, No Jail Term

The government has made holding of more than 10 junked Rs 500/1000 notes a penal offence punishable with a minimum Rs 10,000 fine, but the harsher four-year jail term has been dropped

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