While RBI is yet to come out with a clear regulatory framework for bitcoins, which have been gaining currency across the world over the past few months, it has issued an advisory cautioning general public against use of bitcoins and other virtual currencies.
Commercial papers, certificates of deposit also dry up
India has asked refiners that owe about $6.5 billion to Iran for oil imports to build up dollar and euro balances to avoid downward pressure on the rupee if six world powers and Tehran reach a final nuclear deal.
'If development, investment, employment, implementation, credibility and commitment are ensured, security will automatically improve and subversive and militant elements will lose ground and be neutralised by the people themselves,' says B S Raghavan, the distinguished civil servant.
Some banks might charge you a nominal amount of Rs 100-150 for issuing the card.
India still has to go a long way to implement reforms in various sectors.
Finance Minister must be hoping that Indians get over gold-addiction.
The CAG audit may look into expenditure on printing of notes, RBI dividend payout and banking transaction data.
Raghuram Rajan is correct -- the RBI's monetary response to inflation in the past has been too weak.
'When an institution believes its knowledge and capability is superior to everyone, it behaves like a frog in the well.' 'And this is precisely the cause for the mess,' says J N Gupta.
The official twists and turns have raised questions on the government's credibility and its ability to pull the nation out of the demonetisation quagmire. To keep up with the new rules, the government has issued an updated FAQ on demonetisation.
The Indian rupee slumped to a record low near 69 to the dollar on Wednesday on growing worries that foreign investors will continue to sell out of a country facing stiff economic challenges and volatile global markets.
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
'Flypasts, bands, helicopters dropping flowers over hospitals treating coronavirus patients are cute ideas for an Akshay Kumar film.' 'But when lakhs of workers at the lowest rung of the employment ladder would still be walking back home, this is the true 2020 equivalent of 'let them eat cake,' notes Shekhar Gupta.
At ATMs, as a step to avoid getting Rs 2,000 notes, people are withdrawing Rs 1,900 in Rs 100 notes and then putting another request for the balance Rs 600, so that they remain within the limit of Rs 2,500 per day of withdrawal.
Launching a scathing attack on Prime Minister Narendra Modi, Opposition parties on Wednesday alleged that selective leak of information on demonetisation of 500 and 1000 rupee notes to 'friends of BJP' and demanded making public the names of those who had bought gold and foreign exchange of over Rs 1 crore since April.
The 30-share Sensex ended down 604 points at 28,845 and the 50-share Nifty ended down 181 points at 8,757. The Bank Nifty ended down 602 points at 19,146.
'People are trying to save money because of uncertainty and insecurity.'
The crux of the problem is change, specifically the Rs 500 note, which India's presses cannot, currently, print in adequate number, says Sahil Kini/IndiaSpend.
'To consider BRICS anything more than a temporary club with some common interests would be folly. The goal should be to induce others (Japan, ASEAN, South Africa) to align with us -- a non-threatening, democratic nation, rather than with malevolent China or waning America. For us to consider aligning with either China or the US would be absurd. India is just too big to be a sidekick,' says Rajeev Srinivasan.
The Finance Ministry has sought comments from stakeholders.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
To manage anxious crowds, as many as 3,400 personnel of paramilitary and Delhi Police along with 200 quick reaction teams have been deployed at ATMs and banks.
The biggest lesson China can teach India is that when it comes to sustaining a love affair with investors, nothing works better than an undervalued currency and its by-product: a current-account surplus.
Will the AIADMK acknowledge the role of CAA and the anti-CAA protests, both inside the state and outside, as among the causes for the current electoral reversal, as many in the party now want? It is unlikely to be so, but then the pressure will increase on the leadership to reassess the BJP alliance at one level and the 'blind support' for Prime Minister Narendra Modi's controversial policies on the other, says N Sathiya Moorthy.
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
The breadth was neutral with 1,329 advances and 1,320 declines.
The concept of gold as an asset capable of getting anytime money is evaporating.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
The govt would also be coming out with more measures to deal with inflation.
Jaitley said the Opposition has been using the zero hour to raise the issue for 'getting footage on TV'.
'When I met the prime minister on November 15 there was no RBI report with the prime minister as to why this was done.' 'When I asked the PMO officer about this, he said the RBI did not bring this to the PM and did it independently.' 'When I asked how could the RBI ban DCCBs from accepting deposits from farmers in old notes when the government gazette released on November 9 allowed them to do so, this officer told me that not even senior PMO officials had any idea about this RBI ban.'
With the first salary date after demonetisation around the corner, will India's labourers be able to take their hard-earned wages home?
StanChart India CEO Zarin Daruwala is building a culture of 'celebrating liabilities,' the tough negotiator tells Niraj Bhatt and Anup Roy over lunch.
'If we play our cards right, we may even benefit from the competition between the US and China as seen from increased investment from each of these countries into India.' 'The size of our market gives us an important lever of power which we shall have to play adroitly and intelligently,' points out Ambassador Gautam Bambawale -- who served as India's envoy to China -- in the Professor V M Dandekar Memorial Lecture 2019, delivered on March 8, 2019 in Pune.
Moving ahead with their new mantra -- Chalein Saath Saath: Forward Together We Go -- Prime Minister Narendra Modi and United States President Barack Obama on Tuesday vowed to deepen cooperation in every sector for the benefit of global stability and people's livelihoods over the next ten years.
This is the joint statement issued by the ministry of external affairs on the visit of US President Barack Obama to India.
Indian economy about to take-off
Keep exit plans handy, D-day could be the second week of August, writes Sonali Ranade in Market Notes.
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