Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
All investors should ideally have a 10 to 15 per cent allocation to gold. Whether they invest in gold ETFs or SGBs should depend on their investment horizon.
Many banks are contemplating to set up additional counters for withdrawal to meet the rush
The 50-day window for depositing the old notes in bank accounts and post offices expires on Friday.
A look at the current contenders International Bank Note Society's Banknote of the Year
If struggling with dealing with queues of people asking for new notes wasn't enough, banks are now facing the challenge of storing the old notes in their strong rooms.
Congress chief spokesperson Randeep Surjewala released a list of 55 persons who lost their lives while standing in queues at banks and ATMs in the wake of demonetisation and demanded compensation to their families besides probe into their death.
Currently the currency in stock is about Rs 2 lakh crore and the reserves are adequate to meet any unusual spurt in demand
What was recovered from Bhajiawala family: Rs 1.45 crore cash, of which about Rs 1.05 crore was in new currency notes, bullion worth Rs 1.49 crore, gold jewellery valued at Rs 4.92 crore, other ornaments worth Rs 1.39 crore and silver ingots priced at Rs 1.28 crore.
With this amount, the total seizure in the case has now gone upto Rs 166 crore in a single case.
The tax department has deployed about 40 large and small machines to count currency notes and brought in more department and bank staffers to finish the counting process, which began on December 6 following raids against Boudh Distillery Pvt Ltd and others, they said.
The cash was found in a box earlier this month during a police survey at one of their locked paternal houses in Sarawada village.
The PIL filed by Delhi-based lawyer Vivek Narayan Sharma has termed the notification of DEA as "dictatorial" claiming it did not grant reasonable time to citizens for exchanging the specified bank notes
73-year-old dies in Mumbai, 75-year-old in Kerala.
Demonetisation should be judged to have delivered some immediate gain if at least around Rs 2 trillion gets immobilised.
If GDP growth in Q2FY18 remains below 7%, the outlook for Samvat 2074 would remain uncertain at best, says Nitin Desai.
James Wilson explains why Indians are destined to silently suffer the cash shortage for half a dozen more months.
James Wilson tracks down discrepancies in the much-hailed demonetisation policy and the subsequent statements of the government and the Reserve Bank of India.
According to the NIPFP, there is the possibility that even if the banking system matures over time, some transactions could bypass the system so as not to pay the BTT.
About 200,000 ATMs can dispense the new series of Rs 500 notes
ArthaKranti wants the government to abolish income tax and 56 other taxes and replace it by a banking transaction tax.
The International Monetary Fund (IMF) warned on Tuesday that India's general government debt (comprising both central and state government debt) could exceed 100 per cent of gross domestic product (GDP) in the medium term. It also cautioned that long-term debt sustainability risks are high due to the significant investment required to meet India's climate change mitigation targets. The Indian government, however, disagreed, arguing that risks from sovereign debt are extremely limited as it is predominantly denominated in domestic currency.
Following the demonetisation of 500 and 1,000 notes in a bid to crack down on black money, there were apprehensions among people that the government might impose some kind of restrictions on gold holding by individuals.
'My turnover is in crores. I am not going to sit down with IT officials, explaining where I got the notes from.' 'I would rather wait a few days for business to come back to normal.'
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.
Jaitley said note ban has compelled people to deposit money into bank accounts.
The printing of one-rupee notes was discontinued in 1994.
If the high security notes introduced in 2015 were kept in the system, the pain due to demonetisation can be ameliorated to a certain extent. But unfortunately, such thought process have no place in the hasty demonetisation decision.
Satish Kumar, a resident of Uttam Nagar and who used to work as a vegetable vendor in Keshopur Mandi, collapsed outside an Oriental Bank of Commerce branch, on Najafgarh road, while he was standing in a queue with his friends.
The premises are alleged to be of the domestic help of Jharkhand Rural Development Minister Alamgir Alam's personal secretary Sanjiv Lal.
Rajya Sabha was informed that both RBI and banks have enough cash
With GDP down by 2 per cent, while 99 per cent of banned notes make way back to the banking system, whom did demonetisation benefit?
'If the RBI now only prints Rs 100 in small denomination notes and the remaining amount is printed in Rs 500 and Rs 2,000 denominations, then by March-end the central bank can completely normalise the cash crunch situation.'
Many PSBs are in the process of rationalisation of ATMs
Demonetisation of the high value currency notes of Rs 500 and Rs 1,000 did not have any discernible impact on currency in circulation (CIC) in the country, which has soared by almost 83 per cent since its announcement on November 8, 2016. The Supreme Court on Monday upheld the decision of the government on demonetisation. On November 8, 2016 Prime Minister Narendra Modi had announced demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key objectives of the unprecedented decision was to promote digital payments and curb black money flows.
Many sections of the society including small traders, restaurant owners, transporters started feeling the heat as the dependence on cash is very high
'They are not tom-tomming what a great thing the Supreme Court decision is.' 'If they say it was a great thing, the public will react because people suffered and are still suffering.'
Details of identity and residence will not be required for exchange of notes between April 1 and June 30.
Advocating the move, home ministry officials said most of the developed countries change the security features of their currency notes every 3-4 years and therefore, it is absolutely necessary for India to follow this policy.
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