New Delhi: New coins in the denomination of Rs 100 and Rs 5 will soon be issued by the government to commemorate the birth centenary of the late Chief Minister M.G. Ramachandran of Tamil Nadu, according to an official announcement here. “The coins of the denominations (Rs 100 and Rs 5) shall also be coined […]
New Delhi: Former RBI Governor Raghuram Rajan said on Thursday that he would have resigned if the demonetisation decision was thrust on him but made it clear that the government can bypass the central bank if it wants to push ahead with such a decision. “It (demonetisation) happened in 1978. Government brought in demonetisation through an […]
New Delhi: Rajiv Kumar, who took over as Vice Chairman of NITI Aayog on Friday, rejected criticism that demonetisation was responsible for the fall in Gross Domestic Product growth and said it cannot be blamed for that. “Demonetisation should not be seen as the reason for the fall in GDP. There was a six-week period […]
New Delhi: Denying that demonetisation failed to achieve its objectives, Finance Minister Arun Jaitley on Wednesday said the measure had succeeded in reducing cash in the economy, increasing digitisation, expanding the tax base, checking black money and in moving towards integrating the informal economy with the formal one. “The objective of demonetisation was that India is […]
New Delhi: Listing the achievements of the NDA government in curbing black money, including demonetisation, Prime Minister Narendra Modi on Tuesday said that authorities had confiscated black money worth over Rs 1 lakh crore and around Rs 3 lakh crore had been brought into the banking system. “In the last three years, more than Rs […]
New Delhi: Post demonetisation, there has been a visible channelising of money towards financial assets like insurance and mutual funds, Reserve Bank of India (RBI) Deputy Governor Viral Acharya said on Saturday. “It will take us many years to understand the outcome of demonetisation. I sense that in financial assets, something has changed as black money […]
New Delhi: RBI Governor Urijit Patel on Wednesday told a parliamentary committee that the amount of junked notes deposited after demonetisation was still being counted. Patel gave this information at a meeting of the Parliamentary Standing Committee on Finance when a member specifically asked him to give details of the value of the Rs 500 […]
New Delhi: The World Bank on Monday projected a 7.2 per cent growth rate for India in 2017-18 due to the impact of demonetisation and protracted investment recovery. In its bi-annual economic India Development Update, the World Bank said the growth will accelerate to 7.2 per cent from 6.8 per cent in 2016-17. “Economic activity […]
New Delhi: Sixty-one per cent of some 200,000 citizens surveyed across the country say they are satisfied with the performance of the Narendra Modi government as it completes three years in office. This is, however, down from the 68 per cent approval after its first year and 64 percent approval after its second year. Forty-four […]
New Delhi: Terming demonetisation and Goods and Services Tax (GST) as “two historic decisions” of the Narendra Modi government, Union Minister Nitin Gadkari on Monday said the revenue receipt will rise to Rs 30 lakh crore in the coming years. Participating in India TV’s ‘Samvaad’ programme, the Road Transport, Highways and Shipping Minister said that […]
New Delhi: The Indian government’s demonetisation measures did not impede future black money flows in new denominations, a UN report said on Monday. According to UN Economic and Social Survey of Asia and the Pacific 2017, complementary measures to demonetisation would be required to target all forms of undeclared wealth and assets. “Broader structural reforms […]
New Delhi/Yokohama: It will still be a few months before the total amount of old currency notes deposited with banks post-demonetisation is known since the RBI is doing a thorough physical verfication, Economic Affairs Secretary Shaktikanta Das said on Thursday. “I expect the process of counting to get completed in the next few months. Counting […]
New Delhi: The Reserve Bank of India (RBI) is still calculating and taking stock of the currency that was returned to banks post demonetisation, Finance Minister Arun Jaitley said on Tuesday. In response to a question by Samajwadi Party leader Naresh Agarwal in the Rajya Sabha, Jaitley said that the RBI was taking stock of […]
New Delhi: Finance Minister Arun Jaitley on Friday said post the November 8 demonetisation, around 18 lakh bank accounts have been found where the amount deposited does not match with the income profile of the account holder. Replying to questions in the Lok Sabha on Friday, Jaitley said data mining was used to find such […]
Mumbai: The RBI needs to print an additional Rs 1.15 lakh crore-worth of currency notes to reach a level of optimal remonetisation, with Rs 13.12 lakh crore already in circulation as on March 24, the State Bank of India (SBI) said on Friday. “We believe Reserve Bank of India (RBI) should only print Rs 1.15 lakh […]
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