Page 85 - Demonetisation

Tactical shift from consumer to industrial stocks playing out

Foreign investors are also getting cautious on emerging markets including India

Currency purge robs advantage given to exports by falling rupee

While a weaker rupee makes India an attractive import destination, production loss in the cash-strapped economy to slow down November export growth

Modi's demonetisation stunner to cost Rs 1.28 lakh cr: CMIE

The Centre for Monitoring Indian Economy (CMIE) has estimated Rs 1.28 lakh crore as the cost to the economy during the 50-day period till December 30 by when people may deposit old Rs 500 and 1,000 currency notes with banks. This does not include many indirect costs, such as those from disturbing the supply chain, says the study by its managing director, Mahesh Vyas.These 50 days are a little more than half of the third quarter of the current financial year. Gross Domestic Product (GDP) was Rs 34.8 lakh crore in the same quarter of 2015-16. Nominal GDP grew by Rs 2.9 lakh crore during that period, year-on-year. The highest immediate cost, at Rs 61,500 crore, would be borne by the enterprise sector, says the paper. This covers all businesses that produce goods and services and are involved in the entire supply chain of these -- farmers, input suppliers, transporters, retailers, manufacturers, stockists, distributors, malls and other retail outlets. In comparison, CMIE says the ...

RBI opens vaults for banks to keep old notes

For specified bank notes deposited, the Central bank will afford credit to banks' current accounts

Union Cabinet mulls ways to promote cashless transactions

Cabinet wants to promote cashless transactions by various ministries, which have been directed to promote the use of e-wallet and unified payments interface

The curious case of Jan Dhan deposits spiking in West Bengal

West Bengal has the third highest number of Jan-Dhan accounts among all states, next to Uttar Pradesh and Bihar

Demonetisation: investors to wait for stability, says Raj Balakrishnan

Modi govt's decision to demonetise Rs 500 and Rs 1,000 notes took investors off guard, just Trump's US election win did, says BofA-ML India head for investment banking

Demonetisation: Govt extends Rs 500 use till Dec 15, stops over-the-counter exchange

The govt demonetised Rs 1,000 and Rs 500 notes on Nov 8 but provided a number of exemptions

You may have to pay 60% tax for unaccounted deposits in banks post Nov 8

Modi called for a Cabinet meet amid banks reporting over Rs 21,000 cr being deposited in Jan Dhan accounts in two weeks after the ban

Ramakrishnan T S: Moving from cash to cashless

The focus should shift to encouraging cashless transactions with the framework of command and control and incentives

Demonetisation: Delhiites throng to petrol pumps, cooperative stores to use

As the exemption on use of old Rs 500 and Rs 1,000 notes at public utilities was to come to an end today

Arun Jaitley asks banks to promote digital banking in mission mode

Finance Minister said the politicians need to accept that habits of the people are changing and they are frequently using cards for payments

Ratan Tata asks govt to consider special relief measures for poor

Earlier, Tata had hailed the government's move to demonetise high-value currency notes as a bold

Nepal bans new Indian Rs 500 and Rs 2,000 notes

Nepal last year allowed people to carry Indian Rupees of higher denominations upto Indian Rs 25,000

Use relief measures to ease hardship due to demonetisation: Ratan Tata

According to Tata, the present note ban implementation is said to be causing great hardship to the common man

Exchange of old currency notes over the counter to stop from tomorrow

Govt extends usage of old notes for payment in public utilities till December 15

Demonetisation: What UPI can learn from Paytm to become WhatsApp for payments

The mobile platform for real-time transfer of money could do with better positioning and user experience

Demonetisation hits the status of rupee as a storehouse of value

The fear of appropriation by the government could force savers to move away from rupee to gold, real estate and dollar assets

PM calls Cabinet meet, may take up penalty on high deposits

Sources said the government wants all of the 500 and 1,000 banknotes to be deposited and not burnt or destroyed for the fear of penal action

Nepali migrant workers unwitting victims of India cash crackdown

There are estimates that dud banknotes worth as much as Rs 1,000 cr may be held by individuals and the informal sector