Economy News

India: After effects of demonetisation of high value currency notes

Hundreds of Indian banks reopened on 10 November and are finding it difficult to tackle the huge crowd that has queued up to exchange the defunct currency notes. The banks and ATMs were shut for a day to stock up the new currency denominations after Prime Minister Narendra Modi’s government withdrew the 500 and 1,000 rupee bank notes earlier this week.

Nov 10, 2016

How Snapdeal addresses cash-on-delivery woes after Rs 500, Rs 1,000 currency ban in India

Snapdeal and FreeCharge introduce Wallet-on-Delivery to fight Cash-on-Delivery challenges.

Nov 10, 2016

Rs 500, Rs 1000 currency notes banned: Major fintech companies show support

Here are the responses from major tech companies following the scrapping of Rs 500 and Rs 1,000.

Nov 10, 2016

Rs 500 and Rs 1,000 notes scrapped: Restless people queue up in droves as banks open

While most people waited patiently, some got restless and made the task of bank officials a little more difficult.

Nov 10, 2016

Certain features of (old) Rs 500, Rs 1,000 notes had been compromised: Report

"The supplier of raw currency, the ink and the silver thread is same for India and Pakistan," a security officials tells a newspaper.

Nov 10, 2016

UPDATES: 'Rs 500 and 1000 notes may have an impact on elections,' says Defence Minister Manohar Parrikar

A PIL has been filed in the High Court of Judicature in Hyderabad challenging the government's decision to demonetise Rs 500 and 1,000 notes.

Nov 10, 2016

New Rs 500 and Rs 1,000 notes to have special features: Economic Affairs Secretary Shaktikanta Das

"In the next few months, Rs 1,000 notes will be brought in with a new dimension and design," Das said.

Nov 10, 2016

Rs 500, Rs 1,000 currency notes scrapped: 2 dead; PIL filed in SC to quash ban

While it was certain on Tuesday that the common man would face hardship, people did not anticipate that it would also cost lives.

Nov 10, 2016

Rs 500 and Rs 1,000 notes scrapped: Banks open today, will work through the weekend

The RBI has ordered banks to not only work on Saturday and Sunday but also ensure that they give priority to exchanging currency notes.

Nov 10, 2016

Deposits above Rs. 2.5 lakh to be taxed, penalised in case of income mismatch

If you're buying jewelry in cash you will have to give your pancard details.

Nov 10, 2016

Remains of burnt sacks full of Rs 500 and Rs 1,000 notes found in Bareillly

Police said the notes were damaged, cut and then burned and added that they have informed the RBI about it.

Nov 9, 2016

Rs 500 and Rs 1,000 scrapped: Chidambaram differs from Rahul Gandhi; exposes rift in Congress?

The difference of opinion may not bode well for Rahul Gandhi, who was recently urged by the top party leaders to take reins of the party.

Nov 9, 2016

State Bank of India branches to remain open till 6 pm on November 10

In a communication, State Bank of India says all branches of the bank will remain open till 6 pm for withdrawing money.

Nov 9, 2016

India reacts to ban on Rs 500, Rs 1,000 notes announced by PM Modi [PHOTOS]

Long queues at cash depositing machines of banks, curious boards at shops/stores marked the day after the ban.

Nov 9, 2016

Analysts, industry experts react to ban on Rs 500, Rs 1,000 currency notes

The immediate ban on Rs 500 and Rs 1,000 currency notes announced by PM Narendra Modi took everyone by surprise.

Nov 9, 2016