It is not clear whether the two judgements will be concurring or dissenting.
The Centre has also filed a caveat in the registry saying it should be heard if the bench agrees to hear and pass orders on any such plea
"You (banks) can go get clarification from the apex court. If SC says there is no stay, then we will hear this matter. But till then it would not be proper for us to hear the petitions or grant any relief as the apex court is already seized of the issue," Justice Oka said.
The cap of Rs 10,000 on daily withdrawal has also been removed.
The government needs to announce a cut-off date (say March 31, 2011) about 2-3 months in advance for scrapping the big bills. In this 2- to 3-month period, people can go to banks (authorised for this purpose) with their existing bills of Rs 1,000 and Rs 500, and exchange them for the bills of Rs 100 denomination.
The jury is still out on the decision to demonetise high value currency notes on November 8, 2016, with the government claiming it has helped greater formalisation of the economy while critics saying it has failed to curb black money and reduce dependence on cash. On November 8, six years ago, Prime Minister Narendra Modi had announced the demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key objectives of the unprecedented decision was to promote digital payments and curb black money, besides eliminating terror funding. As per a Reserve Bank data, currency with the public has jumped to a new high of Rs 30.88 lakh crore an October 21, indicating that cash usage is still substantial even six years after the demonetisation move.
The Special Investigation Team probing the fake stamp paper racket had recently seized fake adhesive stamps worth Rs 72 lakh from the town.
Govt sets up task force to monitor circulation of fake currency; suspicious Jan Dhan accounts under scanner.
The sleuths of the department seized over Rs 4 crore in new currency, mostly in denomination of Rs 2000, some notes of Rs 100, demonetized notes of Rs 500 and a few gold biscuits
Banks were given 15 days to increase dispensation of Rs 100 banknotes through ATMs which are "widely used"
Taking advantage of bad weather marked by incessant rainfall and poor visibility, a group of armed terrorists attempted to infiltrate across the LoC, he said.
The sudden move to demonetise Rs 500 and Rs 1,000 currency notes is not new. Rs 1,000 and higher denomination notes were first demonetised in January 1946 and again in 1978.
In Reserve Bank offices, 59 CVPS machines are used and each machine is operated by a set of five persons under a supervisor who supervises a cluster of machines
Banana fibre can be used to make currency notes that last for about a century.
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.
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
There will be a lot to repair and rejuvenate -- if that opportunity even presents itself, warns Rathin Roy.
A bench comprising Chief Justice T S Thakur and Justice D Y Chandrachud said, "We will examine both aspects (inconvenience and constitutional validity) of the matter. Come on Friday at 2 pm".
Management commentary on demand environment, and forward guidance will be in focus when Indian IT services players declare their September quarter results for financial year 2024-25 (Q2FY25). The industry is exepected to have continued on the path of recovery in Q2, similar to the preceding quarter, rather than sprint towards growth. The top four firms likely grew between 0 per cent and 4 per cent year-on-year (Y-o-Y), according to consensus estimates.
Such a move will help bring clarity to the Centre's estimates of the demonetised amount
Following the surge in demand, Bitcoin is being quoted on Indian exchanges at 25-28 per cent higher than the international price, reports Rajesh Bhayani.
Currently the currency in stock is about Rs 2 lakh crore and the reserves are adequate to meet any unusual spurt in demand
The interchange fee -- paid by the card-issuing bank when a customer swipes at another bank's ATM, including at white-label ATMs -- may be raised to Rs 20 to Rs 23.
'...because it is still a legal tender.'
IT Department asks car dealers to furnish ledgers of all customers who have booked vehicles from November 1.
SC asked AG to file an affidavit about the measures undertaken by the govt and RBI to minimise public inconvenience.
Munich-based Giesecke and Devrient supplies security features to the RBI for currency notes, and machines to bank branches across the country to detect counterfeits.
A Congress-led opposition on Tuesday came together seeking to pin down the government on the demonetisation issue in the winter session of Parliament beginning tomorrow but a consenses eluded on Trinamoll Congress's proposed march to Rashtrapati Bhawan for meeting the President.
Abul Kalam Azad chose not to contest Congress Presidency and to throw his weight behind Nehru, instead of Patel, a decision he would come to regret. Patel would have seen his plan through, while Nehru, in Azad's opinion 'gave Jinnah the opportunity to sabotage' it, notes Aakar Patel.
India and Russia on Tuesday set a target of $100 billion in annual trade volume by 2030 and vowed to develop a robust bilateral payment settlement mechanism using national currencies. The two sides also inked a total of nine agreements to further broadbase cooperation in a range of areas including in the economic domain following summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin.
An estimated Rs 39 crore in cash and over 1.67 lakh litres of illicit liquor has been seized by Election Commission-appointed teams in the Bihar assembly elections till now.
Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
Pre-2005 banknotes are being withdrawn from circulation since January 2014 by RBI and a large percentage of these notes have already been withdrawn
The finance ministry has issued a note which says that the government and the RBI's move to take out Rs 500 and Rs 1,000 banknotes from circulation will help India towards cash-less economy where most transactions are done electronically and that can be tracked.
The SC sought response of all the petitioners who have challenged demonetisation.
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?
Six people have been detained in various raids.
The Supreme Court in a 4:1 majority verdict upheld the government's 2016 decision to demonetise Rs 1,000 and Rs 500 denomination notes, saying the decision-making process was not flawed.
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.
Another trend: A preference for coloured diamonds among brides, who are pairing them with their groom's birthstone. So, along with yellow or white diamonds, they are choosing pink, green, blue sapphires, emeralds or red rubies.
