Any liquid money that gold replaces for CRR or SLR compliance will allow banks to use this 'extra' cash for lending to borrowers
Multiple levels of integrations with the bank servers are required for enabling transactions.
Kanika Datta reflects on Indians and our relationship with snaking queues from the license raj to demonetisation.
'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.
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.
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.
Cash withdrawal limits likely to continue
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
'Most of the measures the finance minister announced will take effect after the lockdown.' 'By that time, millions of people will be starving.'
The demonetisation move will force the Modi government to battle with a policy dichotomy, says N Sathiya Moorthy.
Obscenity, cheating and sexual exploitation are India's leading cyber crimes, reports Chaitanya Mallapur.
Distress sales, market closures and anchoring of fishing fleets have been reported from West Bengal, Andhra Pradesh, Tamil Nadu and Kerala.
Bollywood and black money go a long way.
If you miss the July 31 deadline, there is a late filing fee of up to Rs 10,000. Also, you cannot file returns beyond March 31, 2019.
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.
He also sought to know if Modi, during his recent meeting with Chinese President Xi Jinping, asked the latter about the 2017 Doklam standoff.
'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.
The second fortnight of September saw Rs 3 lakh crore of time deposits, something unique, followed by liquidation of Rs 1.2 lakh crpre of these right after.
Any forced attempt to achieve anything, however lofty the goal, will result in distortions and undesired outcomes, say Anshuman Gupta and Karunakar Jha.
'India cannot expect to be insulated from the crisis. Europe is India's biggest trading partner with two-way trade of E72.5 billion or Rs 530,000 crore last year,' says Paranjoy Guha Thakurta.
Opposition parties are holding nation-wide protests against the currency ban on Monday as part of the Jan Aakrosh Diwas to agitate against demonetisation.
Whether India can create labour-intensive factory jobs instead that it needs to put millions to work in the next few years looks very unlikely.
With Narendra Modi about to make his first Independence Day speech, there is a buzz in Delhi that Modi will make some big announcements to signal major reforms and directional shifts. But we have to wait and see if it happens, says Mohan Guruswamy.
The specifics will also cover what's fit and proper to be a chest manager; the insurance and re-insurance aspects; and the new capital threshold, which is Rs 100 crore now.
Finance Minister Arun Jaitley witll spearhead the campaign with BJP President Amit Shah as its chief strategist.
Some banks might charge you a nominal amount of Rs 100-150 for issuing the card.
Days after the PM announced a financial inclusion package, a look at how banks and insurance firms are going about it and what lies ahead.
Budget announcements will come right before five states, with population of around 250 million, go to polls.
The old note will continue to be accepted for other utility bill payments as well as at railway ticketing counters and counters of government or public sector undertaking buses for purchase of bus tickets till December 15
The SC sought response of all the petitioners who have challenged demonetisation.
Launching a scathing attack on Prime Minister Narendra Modi, Opposition parties on Wednesday alleged that selective leak of information on demonetisation of 500 and 1000 rupee notes to 'friends of BJP' and demanded making public the names of those who had bought gold and foreign exchange of over Rs 1 crore since April.
10 central trade unions have called a nationwide shutdown against 'anti-worker policies' of the central government. Apart from being successful in Bengal, Kerala and NE states, the bandh has also got support from Cong leader Rahul Gandhi and Shiv Sena in Maharashtra.
India must first improve working condition, then it can concentrate on Make in India concept.
'A bit of foresight would have helped.' 'Isn't it common sense that this is sowing and wedding season?' 'The plan is indeed unquestionably revolutionary, but better preparedness could have avoided such teething troubles.'
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 minders of the Modi government's economic policy believe it would take 7 to 8 quarters -- or till around late 2018 -- for the economy to reap the rewards of demonetisation.
"Our government does not delay decisions. We neither nurse problems nor keep them pending," Modi said.
"Our agenda is to fight for a country free of corruption and black money. But their agenda is to close (disrupt) Parliament...I am puzzled," Modi said.
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.
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