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Tag: Demonetisation

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

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 […]

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

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 […]

Congress crying over demonetisation as it has lost money: Modi

Shahdol (Madhya Pradesh): Stepping up his attack on the Congress and the Gandhi family, Prime Minister Narendra Modi on Friday said the Gandhis are crying even two years after demonetisation as they have “lost” ill-gotten money. “These days people are discussing development. People are discussing how in 55 years the four generations of a family could […]

Demonetisation biggest scam in independent India: Rahul Gandhi

Sagar:Congress president Rahul Gandhi Friday termed demonetisation as the biggest scam in the history of independent India, adding it would be proved that Prime Minister Narendra Modi had “robbed the poor of their hard-earned money and given it away to a few rich”. Addressing a campaign rally for the November 28 Madhya Pradesh Assembly polls, […]

Rahul Gandhi slams Modi over demonetisation, calls him a 'thief'

New Delhi: Taking a jibe at Prime Minister Narendra Modi for his comment that demonetisation led to crackdown on shell firms, Congress President Rahul Gandhi on Monday said it takes a “thief to know a thief”. Gandhi’s remarks came after Modi targeted the Congress for criticising demonetisation, saying the move had let to closure of […]

PM Narendra Modi attacks Rahul, Sonia over demonetisation

Bilaspur (Chhattisgarh): Hitting back at Rahul Gandhi who questioned him on demonetisation, Prime Minister Narendra Modi on Monday said that the Congress President and his mother Sonia Gandhi were out on bail but issuing “honesty certificates” to others. “The mother-son duo who are out on bail are giving me a certificate and asking from me […]

Congress flays demonetisation on 2nd anniversary

New Delhi: Hundreds of Delhi Congress workers marched to the Reserve Bank of India office here on Friday on the occasion of the second anniversary of demonetisation, denouncing the great note-change exercise as “ill-fated” and “destructive” to the economy and the people of the country. Addressing party workers, Congress leader Ajay Maken said that Prime […]

Op-Ed: The Common Man Has Given A Resounding Thumbs Down to DeMo

Utterances by politicians – and economists – on the second ‘death anniversary’ of the Rs. 1000 note have been on predictable lines. Depending on which side of the political divide they are, these wise heads have either been heaping praise on the Modi government for this ‘bold’ move that allegedly marked a ‘turning point’ in […]

Rahul Gandhi
Note ban a conspiracy, money laundering scheme: Rahul

New Delhi: Attacking Narendra Modi on the second anniversary of demonetisation, Congress President Rahul Gandhi on Thursday called the note ban a “cruel conspiracy” and a “scam”. “Note ban was a planned and cruel conspiracy. This scam was a scheme to launder black money of the Prime Minister’s cronies,” Gandhi tweeted in Hindi. “There was […]

Narendra Modi
Opposition parties attacks Narendra Modi over demonetisation

New Delhi: The opposition on Thursday attacked the Narendra Modi government for unleashing “destruction” on every citizen of India with its 2016 demonetisation move that only helped the Prime Minister’s cronies. On the second anniversary of the ban on Rs 500 and Rs 1,000 currency notes, the Congress called it a “black day” for the […]

Centre cheated nation with demonetisation scam: Mamata

Kolkata: On the second anniversary of demonetisation, West Bengal Chief Minister Mamata Banerjee on Thursday slammed the central government under Prime Minister Narendra Modi for cheating the nation with the note-ban “scam”. Calling it a dark day, Banerjee tweeted: “The government cheated our nation with this big #Demonetisation scam. It ruined the economy and the […]

Odisha Elections 2019
2 years of demonetisation: Congress to stage dharna in front of RBI office tomorrow

Bhubaneswar: The Odisha Congress has decided to stage demonstration in front of the Reserve Bank of India (RBI) office building as part of its nation-wide protest on the second anniversary of demonetisation tomorrow. Slamming the Centre, the Congress alleged the BJP government at the Centre has ruined the economy of the country through demonetisation. Besides, […]

Rahul launches direct attack on PM Modi over Demonetisation, Rafale

New Delhi: An aggressive Rahul Gandhi today launched a two-pronged offensive against Prime Minister Narendra Modi on demonetisation and Rafale deal, terming them as huge scams which were committed to help his “crony capitalist friends”. In a no-holds-barred attack on Modi, the Congress President alleged that the noteban “scam” was deliberately inflicted on common people […]