Swiss entities keen to invest in India, says envoy .
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
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.
'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.
The cap of Rs 10,000 on daily withdrawal has also been removed.
'Nobody will wait now. Everyone will come to deposit their old notes. The confidence is shaken.'
With the first salary date after demonetisation around the corner, will India's labourers be able to take their hard-earned wages home?
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
While some are relatively new in this business, Vodafone, which has 1.8 million touch points in the country, has been offering basic banking and payment services through its pre-paid mobile digital semi-closed wallet called M-Pesa since 2012.
The RBI fell short of pumping Rs 150 billion into the economy at the beginning of 2018-2019.
For the first time, the value of card and mobile payments of Rs 10.57 trillion was more than ATM withdrawals of Rs 9.12 trillion in Q4 of fiscal 2019-20. In the months of lockdown, the gap may have widened further, but cash could be back in vogue when the situation normalises.
Even if the government didn't plan for demonetisation properly, it could have taken steps on a war footing later to ensure the situation improves.
RBI data on Dec 2014 showed 1.05 million PoS machines in the country.
A task force will speed up the recalibration of 200,000 ATMs so these can dispense the new Rs 2,000 notes.
'Today may be the last day for depositing old notes, but tomorrow all the worries of the banks will not go away.' 'As long as there is cash shortage, banks will not be able to function normally.' 'Nobody knows when the shortage will be over.'
Another 8 pm prime ministerial speech. Will this one too lead to a scramble and chaos like his previous 8 pm telecasts?
Ruling out a cut in lending rates, bankers said the status quo policy stance of the Reserve Bank will be followed by them, at least in the near-term.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
'We are not getting any clear guidance on what to do. Initially, we were asked to move to the bunker...when we packed our bags and reached there, our university head asked to go back to our hostel room. So we came back. Movement is very risky these time'
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.
In the fifth of a six-part series on the impact of demonetisation, Avishek Rakshit senses a storm brewing over the 850-odd tea gardens in the north eastern state, which have a weekly and fortnightly payment cycle.
SC asked AG to file an affidavit about the measures undertaken by the govt and RBI to minimise public inconvenience.
Twenty years after the burning of a train in Godhra killed 59 'karsevaks' and triggered one of India's worst post-Partition riots, the poll-scape reflects the yawning gulf between the two communities.
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.
As many as 641 customers across 19 banks have been duped of Rs 1.3 crore using stolen debit card data
Cheque payments will be safer; the limit for contactless card transactions hiked.
Rediff readers share their Cash Crisis experiences.
RBI has cited at least 10 areas where it has no control over PSBs.
'The government and railways are looking after us, but I just want to get home.'
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.
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
Taxi booking, shopping and transfer of money will be easy.
What's the real reason behind ATMs running dry even in states that are not election-bound, wonders Nivedita Mookerji.
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.
The government could carry out the demonetisation exercise over periodic intervals along with its surprise element, says Soumya Kanti Ghosh.
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.
'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.
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.
More people will be literate, on the Internet, linked to the national identification scheme and likely to receive electricity, especially from alternative-energy sources.
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