The demonetisation camp remains devided, while some feel the exercise is a total flop, others feel the government should be given some more time
Many countries advised the return the high-denomination notes to the central bank for destruction, but these continued to be legal tender. This and the introduction of a new Rs 2,000 note in India are the two major differences between Indian demonetisation and those of other countries.
Terming Prime Minister Narendra Modi's demonetisation move as "very bold", China's official media on Saturday said it was a "gamble" that would create a precedent irrespective of whether it succeeds or fails and China will draw lessons from its impact on corruption.
The SC sought response of all the petitioners who have challenged demonetisation.
About 200,000 ATMs can dispense the new series of Rs 500 notes
Work in mandis across UP and in northern India which till Tuesday, witnessed heavy arrivals of newly harvested paddy, saw a steep decline.
On a daily basis, an average cash logistics company transports Rs 5,000-8,000 crore worth of cash nationwide.
The new requirements include a shift to cassette swap system, mandate armed guards while transferring money as well as a host of other measures that would require huge investments.
'In the coming months, expect more government action that will be packaged as an assault on black money,' warns A K Bhattacharya.
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.
With a staff crunch, it seems the I-T department would now target only the big fish rather than go after small assessees.
He will be the first bureaucrat to head the central bank in almost five years.
He, however, did not make it clear what aspects he wanted Modi to admit as the "mistake"
Following demonetisation, the Reserve Bank had also introduced new Rs 500 and Rs 2,000 notes.
The tax department will analyse mismatches in income declarations and spending patterns to trace tax evasions and black money.
Ban on high-value currency sends advertising industry into a tailspin.
She said the situation arising out of demonetisation has triggered a sort of constitutional crisis.
'As people have moved from cities to small towns and villages, they have carried the infection into new territories.' 'Poor healthcare infrastructure in these places should be a big worry in the days to come.'
It has the potential to burnish his image as a strong leader, bring down inflation and could turn out to be common man-friendly.
Here's the full text of Prime Minister Narendra Modi's address to the nation where he announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight on November 8-9.
A sharp decline in sales and prospects of a grim future have resulted in a fall in jewellery stocks.
James Wilson explains why Indians are destined to silently suffer the cash shortage for half a dozen more months.
According to ICRA, even in a high-growth scenario, wherein the second half of FY20 sees the incremental bank credit rise to Rs 6.5-7 trn, there will still be a 40-45% year-on-year decline.
Central bank moves to infuse liquidity into bond market to help boost sentiment.
The minister said demonetisation has increased the tax return filings and also increased the revenue of the states and the Centre immensely.
The group has been encouraging people to sign a petition calling for the withdrawal of the notes as vegans and vegetarians continued to express outrage at the use of tallow, a substance derived from animal fat.
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.
Govt sets up task force to monitor circulation of fake currency; suspicious Jan Dhan accounts under scanner.
If GDP growth in Q2FY18 remains below 7%, the outlook for Samvat 2074 would remain uncertain at best, says Nitin Desai.
Details on the Swadheen Bharat Vidhik Satyagrah aka Swadheen Bharat Subhash Sena, the outfit responsible for the violence that claimed 24 lives in Mathura, Uttar Pradesh, including that of two police officials, are slowly emerging.
Finance Minister Arun Jaitley should not drop the ball on continuing the battle against black money and move towards digital transactions to reduce the preponderance of cash in the economy, says A K Bhattacharya.
Tax administration could be improved to reduce discretion and improve accountability
Piyush Goyal's comments about Amazon founder Jeff Bezos's investment in India reveals an inability to understand how businesses function, says Kanika Datta.
The move may release funds locked in government securities and add to liquidity. With inflation expectations lowered, this should not impact bond sentiment in the short run
The Opposition on Thursday hit out at Prime Minister Narendra Modi saying his note ban decision was "reckless".
With GDP down by 2 per cent, while 99 per cent of banned notes make way back to the banking system, whom did demonetisation benefit?
Rediff.com's Prasanna D Zore spoke with vegetable vendors, fruit sellers, those selling clothes in shops and streets, and a retired school teacher.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
Months before 8/11, MP, Haryana probed note ban
It's been 15 days since Prime Minister Narendra Modi sent ripples across the nation when he announced that Rs 500 and Rs 1000 notes would be demonetised immediately. Here are some of the protests that the country has witnessed since then.
