Govt sets up task force to monitor circulation of fake currency; suspicious Jan Dhan accounts under scanner.
Mutual funds breathed easy today, with the flow into liquid and liquid-plus schemes soaring to Rs 30,000-35,000 crore. This is in contrast to the situation over the past few days when a liquidity squeeze caused by the Coal India issue soaking up cash forced companies and banks to withdraw money from mutual funds.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
RBI said the outlook for economic growth for 2016-17 has turned uncertain after the unexpected loss of momentum by 50 basis points in Q2 and the effects of the withdrawal of banned notes
Sports Minister Vijay Goel on Monday made it clear that the government will not allow any bilateral cricket between India and Pakistan till the time 'cross-border terrorism' does not stop.
Deadline to submit convincing reform plans is this week.
With enough liquidity in the system, lending and deposit rates are likely to fall further
'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.'
Harsh Roongta, Mahesh Padmanabhan, Anil Rego answer the most sought after questions on Budget Day.
HSBC's Swiss bank routinely allowed clients to withdraw "bricks" of cash
In the next few days, use credit/debit cards wherever possible or download your bank's mobile banking app or a mobile wallet.
Congress leader Rahul Gandhi alleged that Modi's move was aimed at helping a few of his 'crony capitalist friends' and had 'destroyed' the Indian economy, prompting a strong response from the BJP which said the exercise was an 'attack' on corruption and black money that were rampant during the 'lost decade' of the Congress-led United Progressive Alliance government.
Gujarat police opposed in the Supreme Court the anticipatory bail plea of Teesta Setalvad.
00 hours. The overall investors' wealth, measured in terms of valuation of all listed stocks, was down by nearly Rs 6 lakh crore in early morning trade, from nearly Rs 111.44 lakh crore at the end of Tuesday's trade.
'Those who looted the nation have fled the country.' 'Those with rooms full of cash have already converted their cash into gold and property.'
Roy was allowed by the Supreme Court to use the jail's conference room to negotiate sale of his hotels in order to collect Rs 10,000 crore (Rs 100 billion) for his bail.
Children need to learn to handle money first, before they spend.
The IL&FS group has a complicated structure, with the holding company owning stakes in its financial services arm as well as the subsidiaries that operate its infrastructure assets.
Branch additions for most major banks in the current financial year do not correspond to the number of the past two years.
'It could take 12 months or more for hiring to get back on track.' 'New opportunities would come up and there will be demand for skillsets that can help dealing with the current situation.'
'This way, you'll maintain our glorious traditional values and get more efficient governance as well.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'There has been a marked increase in four types of cases.' 'One is fraud related to online deliveries, online shopping and online groceries and liquor.' 'Second fake news, third hate speech and fourth sextortion.'
Those who withdrew called off the blockade on the Sarita Vihar-Kalindi Kunj road and alleged "politicisation" of their "peaceful protest".
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.
A recent KPMG survey highlights the huge potential for banks to grow their market with the rise in mobile phone subscribers in India. The most profound impact of mobile banking and payment services is that they provide the non-banking population with access to modern financial services, giving them tools to improve their living standards. Innovative m-banking services are fast arriving in the market.
Readers share their bitter-sweet experiences at the ATM.
Retirees must also try and purchase a senior citizens' policy, despite steep premiums.
The mismatch between PMI and core sector could also be due to the fact that while core sector is calculated year-on-year, PMI is calculated month-on-month.
More people will be literate, on the Internet, linked to the national identification scheme and likely to receive electricity, especially from alternative-energy sources.
After the lock-in, ELSS investments should be en-cashed only when an important financial goal has arrived or there is a medical or other financial emergency in the family, says Anil Chopra -- Group CEO & Director, Bajaj Capital.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'It is like bombing a building with 200 people to kill 5 terrorists.'
If used without much care credit cards can become debt traps. But there are ways to use them to your advantage, says Rajiv Raj
It looks as if competing political parties in Tamil Nadu have not grasped the full impact and import of a sizable section of voters possibly staying away from voting -- voters, supposedly with a predictable polling pattern -- owing to the Covid second wave and more so, how it could affect the outcome in individual constituencies and even booths, says N Sathiya Moorthy.
He said it may take up to 3 weeks for all the 2 lakh cash vending ATMs to operate normally as each one has to be calibrated individually to dispense new sized notes of Rs 2000 and Rs 500 besides lower denomination currency of Rs 100.
'How can you ask the common man alone to suffer when the rich is not doing any sacrifice?' 'To take out 10% of black money, you are punishing 90% of the public who have genuine white money.'
While FMCG companies lose Rs 98,928 crore in m-cap, consumer durables stocks are down Rs 20,673 crore since November 8.
'Initially, most people willingly stood for hours in queues to withdraw cash because they believed that after 50 days, black money would come out, some big men would be punished and perhaps jailed. Again, nothing happened.' 'Now the talk is that small people have been punished while the rich and the powerful have got away.' 'The RSS is not going out of its way to counter the view. Let the BJP explain.'
The currency ban has changed the lives of the people facilitating this move across India.
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