NOTE BAN
CM Chandrababu Naidu wants to scrap Rs 500 notes, wants only currency like 100 and Rs 200 in circulation to help tackle corruption
Indian rupees news: N Chandrababu Naidu has reiterated his demand to withdraw high-denomination currency notes like Rs 500. He believes that limiting circulation to Rs 100 and Rs 200 can help tackle corruption effectively. While the Reserve Bank of India is exploring plastic notes for lower denominations, no proposals exist to replace paper currency entirely. Additionally, discussions around digital payments highlight their complementary relationship with physical banknotes.
Gold biscuit recovery from Maoist supply dumps: Risking life but not wealth, rebels picked safe haven asset
A Maoist dump is a concealed underground cache, usually deep in the forest and sometimes placed in plastic drums or other containers before being camouflaged with soil, wood and fallen leaves. From these dumps, authorities have recovered at least 8 kg of gold in the past two years.
Paytm bets on workplace AI agents in pivot beyond payments
In an exciting new venture, Paytm is venturing beyond its established digital payments realm to launch Pi, an innovative service offering artificial intelligence agents specifically tailored for enterprise clients. This strategic move will focus on financial institutions in India and the UAE. After dedicating two years to perfecting a financial services AI model, Paytm hopes this expansion will significantly elevate revenue and profitability.
Your cheque book could be the next casualty in Modi govt's push for digital transactions
The Centre's next disruptive digital step could well spell the end of the good old cheque book. That's what a high functionary of a prominent trade body says.
Note ban helps Visa grow fastest in 5 years
According to the Registrar of Companies, the FY17 revenue of Visa’s Indian arm increased by 29% from a year ago to Rs 449 crore, while its net profit touched Rs 69 crore.
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6,000 companies with 'withdrawal syndrome' post demonetisation under government scanner
IDBI Bank held a major chunk of the a/cs under probe. They belonged to 3,330 companies. The govt has called this likely scam 'just the tip of the iceberg'.
Shell firms made huge deposits in multiple accounts post note ban
There are about 5,800 shell companies whose near zero-balance accounts saw nearly Rs 4,574 crore of deposits post note ban.
Short-term note ban costs to outweigh long-term benefits: Raghuram Rajan
Rajan said he had handed over a note to the government outlining the potential cost and benefits of note ban as well as alternatives to achieve similar aims.
Here's why you had to stand in queues for so long after note ban
The day note ban was announced, RBI didn't had a single Rs 500 note and only had a stock of around Rs 5L cr of Rs 2,000 notes. Situation stabilised only by Dec-end.
House panel seeks details from RBI, bankers on note ban outcome
The government on November 8 last year had demonetised Rs 500 and Rs 1,000 notes with the stated objective to fight corruption, black money and counterfeit notes.
Parliamentary panel summons Urjit Patel again on note ban issue
Patel has been asked to appear again before it to brief the members about demonetisation as discussion on it is yet to be concluded.
Currency in circulation at two thirds the pre-note ban levels in early November
Total currency in circulation amounted to Rs 11.98 lakh crore, as of March 03,’17, according to the latest reserve money data released by the Reserve Bank of India.
Private engineering medical colleges hit hard by note ban: India Ratings
The impact of demonetisation on the education sector has been mixed, said India Ratings and Research (Ind-Ra) report, while maintaining a stable outlook on the education sector for 2017-18.
Q3 FY16 revision helped GDP, note ban impact at 1%: Analysts
Numbers in a slew of activities like construction being at a 7-quarter and finance at record low are "some of the numbers beneath the surface however signify the impact of note ban".
GDP growth rate plays down note ban worry, 7% growth recorded in Q3
India's growth slowed to 7% in three months through December from a revised 7.4% expansion in the previous quarter, but it was much stronger than expected.
Income Tax department asks taxpayers to e-verify deposits post note ban
The department is using data analytics for comparison of deposits made after the November 8 decision to scrap high-value banknotes with information in its database.
Note-ban aimed at saving financially-distressed banks: CPM
The Modi Government had claimed the currency de- legalisation exercise will stop circulation of fake notes and also their printing, said Subhashini Ali.
Currency situation to normalise by end of Feb 2017: SBI Economic Research
‘What Is Cooking In Currency Printing Presses,’ put up by the Economic Research Department of State Bank of India.
Note ban to benefit jewellery sector in long run: Industry
In the 50 days after the note ban, which was also the peak wedding season, recycling went up by three times.
Note ban fails to dampen spirit of New Year party-goers
It, however, noted that the move hasn't had too much impact on people's party budget with over half the over 5,500 respondents planning to spend higher than last year.
Note ban impact: Jobs market slows, but no disaster yet
Among sectors, there will be no major growth in hiring focus at conventional businesses but it will be different in areas of digital disruption.
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