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Topic result for demonetisation

Currency management exercise
Currency management exercise, not demonetisation: RBI to Delhi HC on 2K note issue

The central bank defended its decision on a PIL filed by petitioner lawyer Rajneesh Bhaskar Gupta challenging RBI's decision. The PIL argued that it lacks the independent authority, as per the RBI Act, to make such a decision.

Rs 2000 note exchange: Special arrangements at bank branches across Odisha
Rs 2000 note exchange: Special arrangements at bank branches across Odisha

As per SBI’s latest notification, special arrangements have been made for exchanging the big denomination currency notes with small denomination notes at around 890 branches across Odisha. 

  • Tuesday, 23 May 2023
  • SBI
Supreme Court
SC declines to consider individual cases for accepting demonetised notes

A bench of Justices BR Gavai and Vikram Nath said after the constitution bench judgment, the court does not think to exercise its jurisdiction under Article 142 of the Constitution in individual cases to accept demonetised currency notes.

Supreme Court upholds 2016 demonetisation
Big win for Centre, Supreme Court upholds 2016 demonetisation

A five-judge constitution bench pronounced the judgment on a clutch of petitions challenging the Centre's 2016 decision to demonetise currency notes of Rs 1,000 and Rs 500 denominations.

Supreme Court
Demonetisation 'one of critical steps in series of transformational economic policy': Centre to SC

The Centre has told the Supreme Court that the November 2016 decision to withdraw Rs 500 and 1,000 currency notes was "one of the critical steps in the series of transformational economic policy steps"

Supreme Court
SC to consider on Oct 12 pleas challenging Centre's 2016 decision on demonetisation

The three-judge bench had then said that assuming that the 2016 notification has been validly issued under the Reserve Bank of India Act, 1934 whether it is ultra vires Articles 14 and 19 of the Constitution.

Demonetised Rs 500 Note Can Be A Cash Fetching Deal, Know How
Demonetised Rs 500 Note Can Be A Cash Fetching Deal, Know How

The Reserve Bank of India (RBI) prints all banknotes with a unique pattern as well as serial numbers. Though you won’t find any variation in the notes except the serial numbers, every note has its unique pattern. However, while printing the notes, some mistake occurs. Such errors while printing the currency makes it invaluable.

fake currency notes
Fake Currency Notes: An Expert's Insight

Bhubaneswar: The recent seizure of fake Indian currency notes (FICN) with a face value of a whopping Rs 7.9 crore in Koraput district of Odisha has sent the police as well as public into tizzy. Why craze for fake notes? While the circulation of fake banknotes has now become a major concern, experts opine that […]

Small Firms Fear Rs 2,000 Note Ban, Ask Cashiers To Deposit In Banks

New Delhi: Amid rumours about demonetisation of Rs 2,000 banknotes, some companies have advised their cashiers to not accept the high-value pink notes from the customers. They have also directed their accountants to deposit cash balances of Rs 2,000 notes in banks. An internal advisory by a Karnataka-based logistics firm on the possible demonetisation has […]

No Levying Of Charges On NEFT Payment From January: RBI To Banks

Mumbai: Come January 2020, and customers may not have to pay any charges for transactions done through the popular NEFT system. A proposal in this regard has been mooted by the RBI to give impetus to digital transactions on the third anniversary of demonetisation. The central bank has also proposed that FASTags would be enabled […]

Pro-active Odisha Police hit FICN jackpot in 2019; seizures touch a record Rs 7.3 cr till date!

Bhubaneswar: Fake currency circulation is still posing a real challenge in Odisha. Post dipping to a historic low in the demonetisation year, the total seizure value of Fake Indian Currency Notes (FICN) has again picked up pace to a record seizure of over Rs 7.3 crore in mere 9-months of 2019. However, the paradigm shift […]

Minister heckled as delayed effect of DeMo blamed for slowdown
Minister heckled as delayed effect of DeMo blamed for slowdown

New Delhi: In a minor heckling, Union Minister Anurag Thakur on Friday was confronted at the industry event here with allegation that government’s demonetisation exercise was to blame for the current slowdown that has impacted the economy. Speaking at the ACMA (Automobile Components Manufacturers Association) annual convention here on Friday, Minister of State for Finance […]

Tharoor uses cricket analogy to criticise Union Budget

New Delhi: The Union Budget has “unnecessarily defensive strokes, drop catches and quite a few no balls”, Congress leader Shashi Tharoor said in Lok Sabha on Monday, slamming the government for allegedly not addressing key issues facing the economy, including farm distress, and raising fuel prices. Tharoor, who was initiating discussion on the Union Budget […]

Ministry forms working group for WPI revision

New Delhi: The Commerce Ministry on Thursday formed an 18-member working group under the chairmanship of Ramesh Chand, member, Niti Aayog, for revision of the current series of the Wholesale Price Index (WPI). The base year for the current series is 2011-12 and since then significant structural changes have taken place in the economy, which […]

Demonetisation, Aadhaar spurred digital payments growth: RBI

New Delhi: After the demonetisation of Rs 500 and Rs 1000 notes in 2016 pushed digital payments, Aadhaar-enabled electronic know your customer (eKYC) resulted in an exponential growth of such payments in the country, according to a new report by the Reserve Bank of India. Transactions in which both the payer and the payee use […]

Cash deeply embedded in payment systems in India, says RBI

New Delhi: Despite a large growth in digital payments after demonetisation of Rs 500 and Rs 1,000 notes in 2016, cash is “deeply embedded” in the payment system in India, according to a new report from the Reserve Bank of India. At 11.59 per cent of Gross Domestic Product (GDP) India had a high cash […]

  • Friday, 30 Apr 2021
  • Cash
e-Money share in India's payment systems reaches 21.5%: RBI

New Delhi: Getting a leg-up from the demonetisation of Rs 500 and Rs 1,000 currency notes in November 2016, the share of e-Money in India’s payment systems grew to 21.5 per cent in 2017 from 0.8 per cent in 2012, according to a new report prepared by the Reserve Bank of India (RBI). With Rs […]

No decision on phasing out Rs 2,000 note: Top official

New Delhi: Amid reports of gradual phasing out of Rs 2,000 notes, the government on Friday clarified that there had been no decision on the printing of the high denomination note “recently”, while hinting that their printing has been stopped as there is “more than adequate” stock in circulation. Economic Affairs Secretary Subhash Chandra Garg […]

Govt indicates printing of Rs 2000 note stopped for now; sufficient currency in circulation
Govt indicates printing of Rs 2000 note stopped for now; sufficient currency in circulation

New Delhi: The government Friday indicated that printing of Rs 2,000 bank notes, introduced post-demonetisation in November 2016, has been stopped for now as there is enough stock in circulation. In a tweet, Economic Affairs Secretary Subhash Chandra Garg said printing of notes is planned as per the projected requirement. “We have more than adequate […]

Demonetisation threw up political, economic puzzles: Arvind Subramanian

New Delhi: Drawing the link between demonetisation and GDP numbers, former Chief Economic Advisor Arvind Subramanian has said the puzzle thrown up by the note ban has a dual aspect – whether its impact as seen in the GDP numbers reflects a resilient economy, and if the growth figures pose questions about the official data […]