Adequate currency in circulation, temporary shortage to be tackled quickly, says FM
US tech giant IBM is betting big on the India growth story and plans to open more software development centres in the country as it looks to partner with the government in its digitisation journey, its chairman and CEO Arvind Krishna said on Friday. On a visit to India, Krishna met Finance Minister Nirmala Sitharaman, Telecom Minister Ashwini Vaishnaw and Minister of State for IT Rajeev Chandrasekhar to discuss deeper collaboration including skilling and workforce development. The firm that originally designed the technology and system behind ATMs, barcodes and the US social security net, is greatly enthused with the speed at which the Indian government is willing to make decisions and where it is moving, he told a select media briefing.
Investment advisor Harsh Roongta will answer your queries on the ban on Rs 500 and Rs 1000 notes and what you should be doing.
The 50-day deadline to deposit the old Rs 500/1,000 notes in banks comes to an end on Friday but the cash crunch and queues before ATMs are likely to continue for some more time as currency printing presses have failed to meet the huge demand for new bills.
'There is a healthy culture of learning.'
Sandeep was nabbed from the same house where LeT commander Bashir Lashkari was killed on July 1. His arrest led to Shah being caught.
The last few months have been hard on digital wallets which had a short-lived dream run post-demonetisation.
'Our future is in limbo. The government saved us with Operation Ganga; now, they must save our careers.'
Total payments in the economy grew 24.08 per cent to Rs117.43 trillion in value terms in June, compared to Rs94.64 trillion in May.
In addition to the problem of long queues at automated teller machines, there would be the problem of guiding new cardholders, especially in rural and semi-urban areas, on how to use those cards, some bankers told Business Standard.
Friendships are not merely severed, but built over scuffles. And just about anything can stir things up -- a long-standing feud, a pointless stare, a disrupted moral stance, a fist that ricochets off a face and smacks another face in the near vicinity, observes Sreehari Nair.
Rediff readers tell us how they are beating the heat this summer.
The RBI 'assured people' that enough cash in small denominations is also available at banks.
'It will cause problems for people who deal in small amounts of cash.' 'I hope it does not cause law and order problems.'
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
Did your employer credit your salary this month? Are you still struggling with cash? Tell us.
Rajya Sabha was informed that both RBI and banks have enough cash
Explosive devices including battery and red wire, a .32 bore pistol, seven live cartridges, cash, PAN card, four ATM cards, pen drives, metro card, driving licenses and Aadhar cards were recovered from their possession, he said.
Economic activity has regained momentum from late-May after the dent caused by the second wave of COVID-19, and the pandemic's impact on the overall asset quality has been less than expected, Reserve Bank Governor Shaktikanta Das said on Thursday. However, Das flagged rising data breaches and cyber-attacks as among the risks for the recovering economy, along with others like firming global commodity prices. The governor also said the second wave had a "grievous toll" on the country.
Another 8 pm prime ministerial speech. Will this one too lead to a scramble and chaos like his previous 8 pm telecasts?
The economic affairs secretary said that the focus is on production and supply of Rs 500 and lower denomination notes.
The facility is now available at 258 Big Bazaar and fbb stores in over 115 cities and towns across the country
India Post may be keen to apply for payment bank licence.
The money was allegedly diverted by an ATM servicing company in criminal conspiracy with bank officials.
Arundhati Bhattacharya, chairman of country's largest lender State Bank of India said demonetisation of high value notes won't be a problem as the bank has done it before.
The currency ban has changed the lives of the people facilitating this move across India.
The ambiguity arose after notices were sent to lenders for non-payment of service tax under the pre-GST regime
Promising swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das on Friday said there was no need to panic over the feared security breach that affected over 32 lakh cards.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
The driver was arrested in the wee hours of Friday from a godown in Okhla area where he was hiding
These include all kinds of ATM transactions. In short, you will be allowed eight free transactions, after which there would be a levy, which should suffice for most people.
Reports from Ludhiana, Coimbatore, Moradabad, Tirupur, Indore, Surat, Delhi, Mumbai, Kolkata, Chennai and Hyderabad, suggest the impact of demonetisation is worsening.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
'What the RBI is doing is trying to catch the mouse when they have to catch the tiger.'
No untoward incident has been reported from the district over the past three days.
The home ministry has deputed three top officials to be in touch with state governments to ensure security of banks, ATMs and cash transporting vehicles.
'The credibility of the messenger here is highly suspect. This is something which the global community is aware of'
We sifted through the complaints that landed on our desks and dug out the issues that were most striking and uncommon when it came to debit cards.
Eco affairs secretary says double counting possible; cash availability to improve in three weeks.
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