The cap of Rs 10,000 on daily withdrawal has also been removed.
From farmers to cement, steel, logistics, transportation and automobiles, the back-end is struggling to get going due to the liquidity crisis.
A key operative of terror outfit Indian Mujahideen was on Friday arrested from Indira Gandhi International airport in New Delhi by the National Investigating Agency.
Assuming that demonetisation had not happened, the value of notes in circulation this year could have increased to Rs 19.3 lakh crore. But what we have, instead, by the end of August is a 20 per cent lower figure for currency notes in circulation, says A K Bhattacharya.
In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
The Supreme Court-appointed Special Investigations Team on black money has also proposed that holding more than Rs 15 lakh in cash be made illegal for individuals and for companies, report Tinesh Bhasin and Sanjay Kumar Singh.
The investor education and protection fund authority (IEPFA) has reached out to top hundred companies to reduce the documentation required for individuals trying to claim their shares, according to a senior government official. Recently, the Supreme Court-appointed expert panel on the Adani-Hindenburg case had raised issues such as capacity constraints faced by IEPFA in clearing these claims which are over Rs 5,000 crore. "Our immediate priority is to ensure that claims of those investors whose application was approved a year ago but the transfer has not gone through yet are settled first.
Nilekani said new-age technology markets work on a winner-takes-all basis.
Delhi Police on Monday arrested one of National Investigation Agency's (NIA) most wanted terrorists Mohammad Shahnawaz Alam and his two associates who were part of an Inter-Services Intelligence (ISI)-sponsored module 'disguised' as an Islamic State (IS) module and seized incriminating material, including those suspected to be used in an improvised explosive device (IED) fabrication, officials said.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
Political funding of elections has led to the rise in black money in the economy.
The government on Tuesday night announced that Rs 500 and Rs 1,000 will be no longer legal tender after November 8, midnight. Here are the details you need know
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
According to the Reserve Bank of India's data, cash still accounts for 90 per cent of all monetary transactions in India.
Watal panel had suggested an independent payments regulator be set up.
The government is planning to extend the electronic modes of tax payment to its own payments platform, Unified Payments Interface (UPI), credit cards of banks, or even a mobile wallet like Paytm.
Here's the full text of Prime Minister Narendra Modi's address to the nation where he announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight on November 8-9.
'The no-rate cut policy and preference to wait for the Budget and clarity on the fiscal front demonstrate RBI Governor Shaktikanta Das is maturing in his new role,' notes Tamal Bandyopadhyay.
Investors must withdraw funds, open a new trading account and transfer assets.
'There has been a marked increase in four types of cases.' 'One is fraud related to online deliveries, online shopping and online groceries and liquor.' 'Second fake news, third hate speech and fourth sextortion.'
The high-level panel also asked the government to work towards re-orienting subsidies in a targeted manner from the crop sector to the non-crop sector and redesign the electronic National Agriculture Market.
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
Timely payment under the MGNREGA is essential as it is a demand-driven scheme.
Continuing its probe into covert activities of Lashkar-e-Tayiba, the National Investigation Agency has arrested a man hailing Bihar in the national capital,
India's cumulative COVID-19 vaccination coverage was recorded at over 28.36 crore since January 16, according to the data from the Co-WIN portal.
The Supreme Court on Monday said it would hear on July 20 a plea by Alt News co-founder Mohammed Zubair, seeking to quash FIRs lodged against him in Uttar Pradesh for allegedly outraging religious feelings, and directed that no precipitative steps be taken against him in the meantime.
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
Kharola leads from the front. As a team player, he also uses technology to improve processes whether it is training or assessing metrics, a key trait that would help to improve service quality of the national carrier.
'It is common knowledge that cash is anonymous.' 'When demonetisation was implemented, one of the intended objectives was to put identity on the cash holdings in the economy.' 'With the return of Rs 15.28 lakh crore in the formal banking system, the almost entire cash holding of the economy now has an address.' 'It is no more anonymous,' says Arun Jaitley.
Speaking at CNBC TV 18's business leadership awards event, Sitharaman made it clear that she was not expecting a jump in the number either.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
The deduction will be higher and net take-home pay will fall.
He suggested evolving specific plans for cooperation with the 10-memeber grouping in key areas of maritime security, counter-piracy and humanitarian and disaster relief.
The court referred the NCRB data and said 38,947 women were raped in India in 2016. "What is to be done? Girls and women are getting raped left, right and centre," the bench said."
'Our priority will be to settle land disputes in Bihar, which I believe is the root cause of almost all crime in the state.'
'Leaders of the Indian community in Hong Kong had broached the idea of developing the Andaman and Nicobar islands for investment and setting up manufacturing units,' points out Rup Narayan Das.
2017 saw the highest-ever mobilisation by way of IPOs of close to Rs 700 billion. The momentum is expected to continue this year as well.
He endorsed transparency and financial stability in addition to issues related to inclusive growth and development, write Puran Singh and Nupur Pavan Bang.
There cannot be a 'blanket ban' on media reporting on cases of rape and sexual abuse, it said.
The agreement would divert China's attention and keep them busy in the Pacific theatre, probably resulting in a reduction in threat perception in our area of interest in the Indian Ocean, notes Commodore Venugopal Menon (retd).
