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Latest Articles in demonetization

Govt Detects Counterfeit Notes Of Rs 28 Crore Face Value In 2016

The government on Friday said it has unearthed Rs 5 and Rs 10 fake coins with a face value of about Rs 6.37 lakh and detected counterfeit notes of face value of Rs 27.79 crore till September this year

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Demonetisation To Drag Down FY18 GDP Growth At 5.8%, Says Report

The cash crunch arising out of demonetisation is expected to paralyse economic activity in the short-term, and the 2017-18 GDP growth is likely to be 5.8 per cent, says a report

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Gold Premiums Surge To Two-year Highs On Fears Of Import Curb

Gold premiums in India jumped to two-year highs this week as jewellers ramped up purchases on fears that the government might put curbs on imports after withdrawing higher-denomination notes from circulation in its fight against black money.

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No Respite From Queues, Chaos; ATMs Grapple With Cash Shortage

Chaotic scenes could still be seen at banks and ATMs as people queued up for hours to get valid currency notes to meet their daily expenses, even as the government on Thursday lowered the exchange limit of defunct bills and eased certain restrictions on withdrawal norms

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Demonetisation Effect: Maharashtra Stamp Duty Collection Drops 37%

Stamp duty collection in Maharashtra has dropped by 37 per cent after the Centre demonetised high-value notes, a senior official said on Friday

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Congress-BJP Clash In Rajya Sabha Over Ghulam Nabi Azad's Expunged Remarks

Congress and BJP members on Friday clashed in Rajya Sabha over Leader of Opposition Ghulam Nabi Azad's remarks during demonetisation debate yesterday, forcing adjournment of the House thrice in quick succession

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Now Select Petrol Pumps Will Dispense Cash Of Up To Rs 2,000

In a bid to ease cash crunch, the government has allowed dispensing cash of up to Rs 2,000 through debit card swipe at select petrol pumps

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Cash Flood: ICICI, HDFC Bank, Canara, United Bank Cut Fixed Deposit Rates By Up To 1%

Taking advantage of the surge in deposits following demonetisation, several banks including ICICI Bank, HDFC Bank and Canara slashed their FD rates by up to 1 per cent.

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Don’t Hoard, Sufficient Notes In Supply, Says RBI As Banks Face Cash Crunch

The Reserve Bank on Thursday asked people not to hoard currency as there is sufficient supply of notes, even as banks struggled to manage the rush of people thronging branches across the country to exchange the scrapped high denomination 1,000 and 500 rupee notes

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Government Acts To Help Farmers Hit By Black Money Crackdown

The government on Thursday announced immediate steps to ease a cash crunch for farmers amid widespread criticism of Prime Minister Narendra Modi's shock decision to withdraw high-value bills in the middle of the sowing and wedding season

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Government Tightens Notes Exchange Norms, Lowers Limit To Rs 2,000

The government on Thursday lowered the exchange limit for now-defunct 500 and Rs 1,000 notes to Rs 2,000 from the existing cap of Rs 4,500, effective tomorrow

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Demonetisation | Banks Face Problem Of Plenty

While banks are facing a problem of plenty on the deposit front, credit growth has been anemic. Corporate credit growth has been negative due to an over-capacity in the economy

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Gold Traders On Edge As PM Narendra Modi Fights 'Black Money'

Some Indian gold traders are placing bulk, short-term import orders on fears that Prime Minister Narendra Modi might soon add curbs on overseas purchases of the metal to his withdrawal of high-denomination banknotes in his fight against 'black money', traders and jewellers said

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No Action Against Modi's 'Industrialist Friends', Says Rahul Gandhi

Sharpening his attack on Narendra Modi over demonetisation, Rahul Gandhi on Wednesday charged that no action was being taken against the "real black marketeers" and the "industrialist friends" of the Prime Minister

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Chaos, Long Queues Continue At Banks; Most ATMs Run Out Of Cash

Chaotic scenes and seemingly never-ending queues can still be seen outside banks and ATMs as people hustled to get valid currency notes for meeting their daily expenses after the Centre last week demonetised the old higher value bills

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