High-value Notes Scrapped

The RBI started printing the Rs 2,000 note in November 2016 after Prime Minister Narendra Modi scrapped high-value Rs 1,000 and Rs 500 notes overnight.

Bracing for a showdown in Parliament, the BJP and Congress have instructed their members in both Houses to ensure their presence for the remainder of the Winter session which resumes today. The issue of demonetisation has cast a shadow on the winter session of Parliament with the opposition parties protesting the governments move to scrap high-valu...

Prime Minister Narendra Modi handpicked a trusted bureaucrat, little known outside India's financial circles, to spearhead a radical move to abolish 86 percent of the country's cash overnight and take aim at the huge shadow economy.

Most economists believe the RBI will follow a 25 basis points rate cut on Wednesday with at least one easing next year after the scrapping of high-value bank notes severely curbed consumer demand.

Agents offering to launder money are using creative means, including flying banned cash by the planeload to northeastern states exempt from restrictions as well as connecting people to high-turnover businesses that can deem old cash as revenue, keep a portion of it, and return the rest, according to people involved in the networks. Premiums range f...

The Delhi High Court today fixed December 8 for hearing the pleas against demonetisation which questioned the government allowing certain public utilities including hospitals and petrol pumps to use the old notes.

Nitish Kumar is resolute about standing apart from the rest of the Opposition about Prime Minister Narendra Modi's decision to outlaw 500 and 1000-rupee notes. "Prime Minister Modi is now riding a tiger which could damage his alliances, but there's great sentiment in favour of his move and we should respect that," said Mr Kumar, who is the Bihar Ch...

Cheap eateries, shops and hotels of Paharganj have always been popular among budget-tourists in Delhi. However, since the government's surprise decision to scrap high-value currency notes last week, the tourism business has faced a dip and foreign tourists are left helpless.

Amid a cash crunch in the city, after the demonetisation of high-value currency notes, a young man lost his life in a Kolkata hospital on Friday as a medical store refused to accept the scrapped notes for the critically needed medical tape.

The government announced new measures today to allow farmers and marrying couples to withdraw more money from banks, as scrapping of high-value notes have impacted weddings and the agri sector.

The Supreme Court today agreed to hear a fresh plea of the Centre seeking a stay on the proceedings before various high courts and other courts except the Supreme court against its November 8 decision to demonetise high denomination currency notes of Rs 500 and Rs 1,000. The Top Court will hear the plea tomorrow.

Mamata Banerjee, West Bengal chief minister, led parliamentarians from her party and BJP ally Shiv Sena in a 1-km march today from Parliament House to the presidential palace Rashtrapati Bhawan to petition President Pranab Mukherjee against the government's currency ban.

Millions standing in queues at banks to exchange old currency notes or withdraw cash; is that a proof of arrival of "achhe din", former Finance Minister P Chidambaram today said commenting on the problems of the common man across the country thronging banks.

Two elderly men standing in seemingly unending queues at banks suffered heart attack and died in a tragic fallout of demonetisation of high-value currency notes as hassled people continued to descend on ATMs and banks in droves leading to arguments and scuffles.

Urban local bodies in Maharashtra have collected Rs 340 crore from citizens towards payment of various bills and government dues in scrapped high-value notes of Rs 500 and Rs 1,000.

The RBI started printing the Rs 2,000 note in November 2016 after Prime Minister Narendra Modi scrapped high-value Rs 1,000 and Rs 500 notes overnight.

Bracing for a showdown in Parliament, the BJP and Congress have instructed their members in both Houses to ensure their presence for the remainder of the Winter session which resumes today. The issue of demonetisation has cast a shadow on the winter session of Parliament with the opposition parties protesting the governments move to scrap high-valu...

Prime Minister Narendra Modi handpicked a trusted bureaucrat, little known outside India's financial circles, to spearhead a radical move to abolish 86 percent of the country's cash overnight and take aim at the huge shadow economy.

Most economists believe the RBI will follow a 25 basis points rate cut on Wednesday with at least one easing next year after the scrapping of high-value bank notes severely curbed consumer demand.

Agents offering to launder money are using creative means, including flying banned cash by the planeload to northeastern states exempt from restrictions as well as connecting people to high-turnover businesses that can deem old cash as revenue, keep a portion of it, and return the rest, according to people involved in the networks. Premiums range f...

The Delhi High Court today fixed December 8 for hearing the pleas against demonetisation which questioned the government allowing certain public utilities including hospitals and petrol pumps to use the old notes.

Nitish Kumar is resolute about standing apart from the rest of the Opposition about Prime Minister Narendra Modi's decision to outlaw 500 and 1000-rupee notes. "Prime Minister Modi is now riding a tiger which could damage his alliances, but there's great sentiment in favour of his move and we should respect that," said Mr Kumar, who is the Bihar Ch...

Cheap eateries, shops and hotels of Paharganj have always been popular among budget-tourists in Delhi. However, since the government's surprise decision to scrap high-value currency notes last week, the tourism business has faced a dip and foreign tourists are left helpless.

Amid a cash crunch in the city, after the demonetisation of high-value currency notes, a young man lost his life in a Kolkata hospital on Friday as a medical store refused to accept the scrapped notes for the critically needed medical tape.

The government announced new measures today to allow farmers and marrying couples to withdraw more money from banks, as scrapping of high-value notes have impacted weddings and the agri sector.

The Supreme Court today agreed to hear a fresh plea of the Centre seeking a stay on the proceedings before various high courts and other courts except the Supreme court against its November 8 decision to demonetise high denomination currency notes of Rs 500 and Rs 1,000. The Top Court will hear the plea tomorrow.

Mamata Banerjee, West Bengal chief minister, led parliamentarians from her party and BJP ally Shiv Sena in a 1-km march today from Parliament House to the presidential palace Rashtrapati Bhawan to petition President Pranab Mukherjee against the government's currency ban.

Millions standing in queues at banks to exchange old currency notes or withdraw cash; is that a proof of arrival of "achhe din", former Finance Minister P Chidambaram today said commenting on the problems of the common man across the country thronging banks.

Two elderly men standing in seemingly unending queues at banks suffered heart attack and died in a tragic fallout of demonetisation of high-value currency notes as hassled people continued to descend on ATMs and banks in droves leading to arguments and scuffles.

Urban local bodies in Maharashtra have collected Rs 340 crore from citizens towards payment of various bills and government dues in scrapped high-value notes of Rs 500 and Rs 1,000.