'During the transition process, we have some control over the withdrawals.' 'In terms of your wealth, the money in your deposit account is where it is.'
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
The report cautioned that low capacity utilisation and stressed balance sheets of banks and businesses will prevent a strong investment revival in the short term.
Without naming India, S&P said it expects that in regions where inflation already exceeds targets, or which are vulnerable to capital flight, central banks will be forced to raise interest rates.
People depositing money with banks in legal tender are allowed to withdraw the equivalent amount without any restriction.
The currency with the public is 10.3 per cent higher than it was in the week preceding November 8, 2016 - from Rs17.97 trillion to Rs18.76 trillion.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
'How can you ask the common man alone to suffer when the rich is not doing any sacrifice?' 'To take out 10% of black money, you are punishing 90% of the public who have genuine white money.'
The Supreme Court says the 'whole exercise appears to be an eyewash'.
While some criticise the government, others, despite the inconvenience, hail demonetisation as revolutionary.
The disclosures will enjoy immunity from wealth tax, civil and other taxation laws but there will be no immunity from FEMA, PMLA, narcotics and black money laws.
Modi attended the House during Question Hour as Thursday is the day of questions listed against the PM's name.
A year's print run has been shortened to 5 months.
'The execution has been 100 per cent faulty.' 'The scheme is also a stupid one, a real Tuglaq Darbar scheme.' 'This way of attacking black money is the most ineffective one.'
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.
A week after Prime Minister Narendra Modi announced that the Rs 500 and Rs 1,000 notes are illegal tender, at least 33 people have been reported dead in demonetisation-related incidents.
Some initial reactions to Prime Minister Narendra Modi's announcement of demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight.
The humble Rs 100 bill had several takers on an otherwise normal weekday evening across the country on Tuesday night, even as police had to be deployed outside ATMs to control the crowd waiting eagerly to get their hands on the banknote.
Tax wing scanning cash deposits between Rs 5-10 lakh
The corporate sector took production cuts, conducted inventory management and reduced staff to meet challenges following the govt's note ban decision
In continued post-demonetisation crackdown on black money, stashes of new notes continue to be seized in several states, including Rs 1.05 crore from a tea seller-turned-financier in Gujarat and nearly Rs 90 lakh in Andhra Pradesh.
Budget announcements will come right before five states, with population of around 250 million, go to polls.
Political funding of elections has led to the rise in black money in the economy.
There was no let up in Opposition's protest over the demonetisation issue in the second week of the winter session of Parliament as parties insisted that no discussion on demonetisation would take place till the House mourns the nearly 70 deaths caused by hardships due to the withdrawal of higher denomination currency notes.
A classic example of a leader who has chosen to risk everything for his vision.
Sun Pharma dipped 2% to Rs 615 on the BSE, its lowest level since November 9, 2016
Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible.
Demonetisaton has left many daily wage earners scrambling for a living.
The economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions, an RBI article on Tuesday said. Observing that the retreat of the second wave of coronavirus pandemic has been slow, the RBI in an article on the 'State of Economy' said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace. "Reaffirming the traction that the economy is gaining, the manufacturing activity is gradually turning around, while contraction in services has moderated.
Watal panel had suggested an independent payments regulator be set up.
As people wait in long queues outside banks, they appear happy that the ban on Rs 500 and Rs 1,000 notes will unearth black money and root out corruption.
Offshore rupee debt was likely to attract good demand
It had upped India's rating to Baa2 from Baa3 and changed its rating outlook to 'stable' from 'positive', saying the reforms would help stabilise rising levels of debt.
Christopher Wood, global head of equity strategy at Jefferies reiterate his bullish view on Indian equities on the back of a steady fall in Covid cases coupled with a sharp economic recovery in India, reports Puneet Wadhwa.
'I feel now we have a leader who is non-corruptible.' 'But he needs time as corruption is deep-rooted in our society, and people have no shame about being corrupt.' 'It will take at least 7 years to make some changes.'
'It is like bombing a building with 200 people to kill 5 terrorists.'
'Alas, in this scheme there is nothing to stop the black money flows of the future.' 'On the contrary Modi has sown the seeds of more, through the issue of Rs 2,000 notes.' 'But have you heard one politician decrying this aspect of the scheme?' 'They must be secretly rejoicing that while Modi is taking away their past, he has not shut the door on their future,' says banker S Muralidharan.
Hence, the claims by the Government that this will end the menace of black money and corruption are simply outlandish. Also, the simultaneous introduction of Rs 2,000 note undermines their claim and it simply does not fit the storyline of an attack on black money and corruption.
Rediff.com's Prasanna D Zore spoke with vegetable vendors, fruit sellers, those selling clothes in shops and streets, and a retired school teacher.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances