The minister asked jewellers not to recover transaction charges for use of debit or credit cards from customers.
Open loop pre-paid cards come with a two-factor authentication. One for ATMs and PoS transactions, and the other for online transactions
Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible.
A post in Humans of Bombay's Facebook page from a manager of a bank will give you an insight of what the bankers are going through and will urge you to cooperate with them.
'The finance ministry and public sector banks have tried to keep the names of wilful defaulters secret.' 'Secrecy and concealing information are inbred among banks and even the RBI,' observes Debashis Basu, editor, www.moneylife.in.
Readers tell us how they are managing without cash since November 8.
We're an educated family, I said, let's not act like the mindless hordes who spread misinformation over WhatsApp, says Kishore Singh.
ICICI bank waives ATM charges.
The industry was expecting to sell 3 million passenger vehicles for the first time in 2016-17, but now it seems a moot possibility.
When banks deposit their money with RBI, the central bank offers government securities of equal value. But now, it could be running out of enough securities to offer banks against the overnight deposits.
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.
The CBDT has begun the process of matching the deposits in accounts opened under the Pradhan Mantri Jan-Dhan Yojana (PMJDY), or Jan-Dhan accounts, with the profile of the depositors.
Former India captain Anil Kumble on Tuesday pulled out of the cash-rich Indian Premier League citing business commitments, the decision coming barely three days before the players' auction.
Experts claim impact of breather limited as most hybrid vegetable seeds are sold by private companies.
Your nearest grocery shop might soon become a one-stop shop for depositing and withdrawing money.
If you are travelling internationally in the next two months, it's a good time to exchange your currency.
Interacting with the locals, Rahul asked them about the inconvenience they were facing and called on them to voice their indignation against the Centre's move of demonetisation, saying that it has become a major hassle in day to day life for the common man.
A government can't just take away public money, and the RBI can't extinguish its liability. 'The RBI has to honour the value any time a person with legal and taxed money lays claim on the value.'
The net cash raked in by developed market-focused funds was $49.44 billion in the January-June period of the year, compared to an outflow of $34.81 billion in the year-ago period, according to international fund tracking firm EPFR.
The biggest-ever seizure of cash in new currency grew to over Rs 5 crore on Friday even as the Income Tax department said it detected unaccounted income worth Rs 152 crore after it conducted searches in a dozen premises in Bengaluru and other locations.
Snapdeal said it will give its users the option to defer the delivery by a few days till new currency notes become easily available.
Terming the train fare hike as "shocking", Shiv Sena president Uddhav Thackeray on Saturday said he will speak to Prime Minister Narendra Modi and request him to roll it back.
As much as Rs 583 crore (Rs 5.83 billion) was collected from the Fringe Benefit Tax and Rs 20 crore (Rs 200 million) from Banking Cash Transaction Tax during the first quarter of this fiscal, the Lok Sabha was informed on Tuesday.
Attacking Modi, who is set to address the nation after end of the 50-day period he had sought from the people to ease their problems due to cash crunch, Congress's chief spokesperson Randeep Surjewala said that the PM is good at making announcements that are far from reality.
The Election Commission has reduced maximum number of campaigners for the recognised parties to 30 while for the unrecognised parties it would be not more than 20 in view of coronavirus pandemic, Additional Chief Electoral Officer (ACEO) Sanjay Kumar Singh said on Friday. The maximum number was earlier fixed at 40 for everybody.
Farmers in Nashik district, Maharashtra - a major producer of onion - have started harvesting the premature crop to cash in on the high prices in mandis. Good-quality onion was quoted at Rs 93.50 a kg on the higher side. However, the poorest-quality onion was selling at Rs 25.50 a kg on Wednesday as against Rs 20 a kg on Tuesday. Thus, the model price of onion works out to Rs 70-75 a kg in Lasalgaon, translating into Rs 100-125 a kg in the retail markets of the country.
The government is also considering mandating payments beyond a prescribed threshold only in card/digital mode.
Another 8 pm prime ministerial speech. Will this one too lead to a scramble and chaos like his previous 8 pm telecasts?
The accounts were hacked during April and May, police said, adding that the Axis Bank had contacted Mumbai police and informed that they had set up a committee to probe the matter.
The pandemic should force you to take a hard look at the downside risks that could jeopardise your finances.
Foreign Portfolio Investors purchased stocks worth about Rs 56,123 crore in 2016-17
The finance minister also hinted that not all of the Rs 15.44 lakh crore worth of currency junked will be remonetised through issuance of new notes as he said digital currency will fill the gap.
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
Apart from this, employers may be allowed to deduct EPF contributions only on the basic pay of up to Rs 15,000, even if the employees' basic pay is above this ceiling. While on one hand this will allow companies to lower their wage bills, employees can also get a higher salary in hand.
The Central Bureau of Investigation has closed the case of disproportionate assets against Congress President Sonia Gandhi's aide and former personal secretary Vincent George as it could not get enough evidence.
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
Videos of the alleged heated argument between Gaikwad, his supporters and police personnel at Latur in Marathwada region, have gone viral on social media.
Details of identity and residence will not be required for exchange of notes between April 1 and June 30.
The Department of Posts was one of the 11 entities to get the in-principle nod from the Reserve Bank of India in 2015 for setting up a payments bank.
Maytas had moved the court challenging termination of its contract by Utility Energytech and Engineers last month. Maytas had also sought a temporary stay to the termination, but Justice Anup Mohta of Bombay High Court last week refused to pass any interim order.
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