Demonetiation

For many citizens living in rural areas, cash is still the bedrock of daily existence because of a lack of facilities.

Roasted by Congress chief Rahul Gandhi's at an election rally in Chhattisgarh over, the BJP hit back today with a biting retort of its own. "Today Rahul ji in Chhattisgarh asked 'did anyone see any rich black money-holder get out of a big car and stand in the line during demonetisation'? I would like to tell him yes we saw you get out of your 4 cro...

"Is BJP government only for the rich," Congress Vice President Rahul Gandhi tweeted today as he asked the seventh question as a part of his "a question a day" campaign.

Dena Bank is the latest to reduce interest rate on savings bank account for balance up to Rs 25 lakh to 3.5% per annum from the existing rate of 4% per annum.

Prime Minister Narendra Modi on November 8 had announced demonetisation of Rs 1,000 and Rs 500 notes valued at Rs 15.4 lakh crore

Switzerland today ratified automatic exchange of financial account information with India and 40 other jurisdictions to check black money deposits. The Swiss Federal Council in a statement said the protocol will be implemented in 2018, and the first set of data will be exchanged in 2019.

Excess funds are limiting the central bank's ability to intervene in the foreign-exchange market to rein in the rupee's rally.

Mansukh Makwana (55), who mends shoes for a living on M G Road in Junagadh received the notice on Saturday, asking to divulge the source of a Rs 10 lakh deposit in his account during the notes ban.

On the sectoral impact of demonetisation, the survey said agriculture, cement, fertilizers, automobile, textiles, real estate and retail will have negative impact.

Two months into Narendra Modi's demonetisation, the Opposition looks like it is still flailing for a response - at least in the short term. Speaking at the giant rally in Lucknow that revitalised his party's campaign, the Prime Minister wasn't shy about repeating the virtues of note-bandi, as he saw them: it was, he said a transfer from the corrupt...

A 16-year-old boy in Hyderabad hanged himself on Wednesday after allegedly being harassed by his school as his fees were not paid on time.

Clarifying the government's stand on the December 30 deadline for the deposit of banned 500 and 1000-rupee notes, Finance Minister Arun Jaitley said Prime Minister Narendra Modi had specifically said that the central bank RBI will fix "terms and conditions" for the same.

"RBI will decide by assessing market situation. Many a time, actions are taken in phases, so relaxations are also done in phases," Mr Jaitley said

The decision comes on the day when the enhanced limit from Rs 10,000 to Rs 20,000 came to an end. At present, 47 non-bank entities and 45 banks are operating payment systems for PPI.

In 1978, a similar ordinance was issued to end the government's liability after Rs 1,000, Rs 5,000 and Rs 10,000 notes were demonetised by the Janata Party government under Morarji Desai.

For many citizens living in rural areas, cash is still the bedrock of daily existence because of a lack of facilities.

Roasted by Congress chief Rahul Gandhi's at an election rally in Chhattisgarh over, the BJP hit back today with a biting retort of its own. "Today Rahul ji in Chhattisgarh asked 'did anyone see any rich black money-holder get out of a big car and stand in the line during demonetisation'? I would like to tell him yes we saw you get out of your 4 cro...

"Is BJP government only for the rich," Congress Vice President Rahul Gandhi tweeted today as he asked the seventh question as a part of his "a question a day" campaign.

Dena Bank is the latest to reduce interest rate on savings bank account for balance up to Rs 25 lakh to 3.5% per annum from the existing rate of 4% per annum.

Prime Minister Narendra Modi on November 8 had announced demonetisation of Rs 1,000 and Rs 500 notes valued at Rs 15.4 lakh crore

Switzerland today ratified automatic exchange of financial account information with India and 40 other jurisdictions to check black money deposits. The Swiss Federal Council in a statement said the protocol will be implemented in 2018, and the first set of data will be exchanged in 2019.

Excess funds are limiting the central bank's ability to intervene in the foreign-exchange market to rein in the rupee's rally.

Mansukh Makwana (55), who mends shoes for a living on M G Road in Junagadh received the notice on Saturday, asking to divulge the source of a Rs 10 lakh deposit in his account during the notes ban.

On the sectoral impact of demonetisation, the survey said agriculture, cement, fertilizers, automobile, textiles, real estate and retail will have negative impact.

Two months into Narendra Modi's demonetisation, the Opposition looks like it is still flailing for a response - at least in the short term. Speaking at the giant rally in Lucknow that revitalised his party's campaign, the Prime Minister wasn't shy about repeating the virtues of note-bandi, as he saw them: it was, he said a transfer from the corrupt...

A 16-year-old boy in Hyderabad hanged himself on Wednesday after allegedly being harassed by his school as his fees were not paid on time.

Clarifying the government's stand on the December 30 deadline for the deposit of banned 500 and 1000-rupee notes, Finance Minister Arun Jaitley said Prime Minister Narendra Modi had specifically said that the central bank RBI will fix "terms and conditions" for the same.

"RBI will decide by assessing market situation. Many a time, actions are taken in phases, so relaxations are also done in phases," Mr Jaitley said

The decision comes on the day when the enhanced limit from Rs 10,000 to Rs 20,000 came to an end. At present, 47 non-bank entities and 45 banks are operating payment systems for PPI.

In 1978, a similar ordinance was issued to end the government's liability after Rs 1,000, Rs 5,000 and Rs 10,000 notes were demonetised by the Janata Party government under Morarji Desai.