RBI has cited at least 10 areas where it has no control over PSBs.
SC asked AG to file an affidavit about the measures undertaken by the govt and RBI to minimise public inconvenience.
What dos and don'ts should people in Maharashtra follow with the state government notifying The Epidemic Diseases Act, 1897 lockdown orders?
Rediff readers share their Cash Crisis experiences.
Cheque payments will be safer; the limit for contactless card transactions hiked.
'Villages are much better prepared than towns as far as COVID-19 is concerned.'
In a set of FAQs on applicability of Goods and Services Tax on banking, insurance and stock brokers sectors, the revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.
The current limit of Rs 24,000 per week has been raised to Rs 50,000 for savings accounts.
For the urban population, recalibration of ATMs has already started and they will start dispensing the new Rs 2,000 currency notes from Monday or Tuesday.
Six Indian women have made it to Asia's most powerful women list released by Forbes.
As many as 641 customers across 19 banks have been duped of Rs 1.3 crore using stolen debit card data
A senior finance ministry source said making the use of debit cards and e-wallets compulsory across the board is legally untenable, but banks have been asked to insist their account holders use these instruments
What's the real reason behind ATMs running dry even in states that are not election-bound, wonders Nivedita Mookerji.
The WB CM visited three banks and several ATMs at Sarat Bose Road, Bhawanipore and Chowringhee and spoke to the people there. "These are all common people. Let the government nab the real culprits," Banerjee said.
The guidelines listed several services including government and private offices that will be out of bounds during the period, while exempting establishments such as hospitals, ration shops, dairies, banks, insurance offices, and print and electronic media. Delivery of all essential goods including food, pharmaceuticals, medical equipment through e-commerce has also been exempted from the purview of the lockdown.
Demonitisation will facilitate transparency in the real estate industry, which has had a notorious reputation as a safe locker for black money, says Saket Mohta.
'The experience so far is a shocking example of how critical scheme of national importance can be brought into disrepute by inefficient and badly designed implementation,' says Dr Madhav Godbole, the former Union home secretary.
The government could carry out the demonetisation exercise over periodic intervals along with its surprise element, says Soumya Kanti Ghosh.
Taxi booking, shopping and transfer of money will be easy.
MGNREGA scheme: A significant Rs 17,370.58 crore has been carried forward over to the next financial year as unpaid dues as demand for work continued unabated for the scheme in rural areas.
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
The economy of Jammu and Kashmir is largely based on agriculture and tourism. The state produced 19.56 lakh MT of fresh fruits in 2018-19.
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
Multiple levels of integrations with the bank servers are required for enabling transactions.
Currently the currency in stock is about Rs 2 lakh crore and the reserves are adequate to meet any unusual spurt in demand
'Reports of hitherto 'atmanirbhar' breadwinners having to stand in line for a plastic bag of khichdi or, travelling thousands of kms with nothing but packets of biscuits, have not moved the prime minister,' observes Jyoti Punwani.
Any liquid money that gold replaces for CRR or SLR compliance will allow banks to use this 'extra' cash for lending to borrowers
'Our future is in limbo. The government saved us with Operation Ganga; now, they must save our careers.'
Under KV Kamath's leadership, ICICI Bank's revenues grew multi-fold.
'Most of the measures the finance minister announced will take effect after the lockdown.' 'By that time, millions of people will be starving.'
Tightening restrictions further in select urban areas to help prevent the spread of Covid-19, Tamil Nadu Chief Minister K Palaniswami on Friday announced a complete shutdown beginning Sunday in Chennai, Coimbatore and Madurai for four days, disallowing grocery shops as well and fully curtailing the movement of public. Also, Salem and Tirupur in western Tamil Nadu will be shut similarly, albeit for three days from April 26, and Palaniswami assured people that vegetables and fruits shall reach their doorsteps via mobile outlets.
Cash withdrawal limits likely to continue
While Bihar and J&K have the least proportion of bank account holders using debit cards at PoS machines, Telangana's record is the highest.
The demonetisation move will force the Modi government to battle with a policy dichotomy, says N Sathiya Moorthy.
Bhatnagar is expected to take charge of the CRPF later this week as he is on an official assignment in Indonesia in the capacity of NCB DG.
The proposed lockdown, sans present relaxations, will be implemented from June 19 to 30 and on two Sundays (June 21 and 28) there shall be a full scale shutdown without any relaxations.
The HC asked the investigators to look beyond their current line of probe to apprehend the culprits.
'You may show at the end of December how much money has come into the system, but none would be the wiser because most of see only what we want to see and believe.' 'Some of us will see through it and you will make your proxies call us enemies of the State.' 'I was somewhat with you till here. But we diverge from here on until you can do something which will veer through my cynicism brought about by your policy,' says Harsh N Gokhale.
Swiss entities keen to invest in India, says envoy .
With cash -- the primary medium of exchange -- all but disappearing, it is now unlikely that the expected fillip to demand on account of a good monsoon and proceeds from the Seventh Pay Commission payout will materialise.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances