Jaitley said future transactions would be substantially digital as India moves towards a less-cash society
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.
Terming demonetisation as a historic and brave step, he said, black money constitutes 80-85 per cent of the economy and Modiji has taken bold step to solve the issue
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
The government has been taking steps to promote cashless or digital transactions to take India towards a less-cash economy
China's GDP jumped a record 18.3 per cent in the first quarter of 2021, riding on strong domestic and foreign demand and aided by recovery from a low base in early 2020 when Covid-19 stalled the world's second-largest economy, according to statistics released on Friday.
Gold demand appears to be positive in India as the consumer sentiment is likely to recover in 2021, from its dismal performance due to the coronavirus pandemic-related disruptions and volatile price movement, according to a report by the World Gold Council (WGC). Initial data about the Dhanteras festival in November suggest that while jewellery demand was still below average, it had substantially recovered from the lows seen in the second quarter (April-June 2020) of last year, according to the report.
RIL plunged around 4% after scaling its life-time high of Rs 1,978.50 as investors rushed to book profits after the company's AGM. Bharti Airtel, ONGC, IndusInd Bank, Bajaj Finance and SBI were also among the laggards. On the other hand, shares of Infosys rallied around 6 per cent ahead of its quarterly earnings. HCL Tech, TCS, Tech Mahindra, Axis Bank and HUL too ended with robust gains.
Pakistan-born Canadian writer Tarek Fatah on Saturday said the Modi government's decision to demonetise 500 and 1000 rupee currency notes has hit Pakistan-sponsored terror activities against India and flow of counterfeit currency has been terminated.
The Chinese currency too is expected to continue its fall.
'The robust tax collections give the finance minister a fair amount of headroom for an expansionary fiscal policy.'
Political compulsions have led to a change of narrative. But, in the ministry of finance, senior management ought to be looking at more serious issues than 'digitally cashless' India, says Rahul Khullar.
Netflix has unveiled a line-up of 15 original series as well as returning seasons of popular shows.
There was an uptick in clients' spends in the digital segment.
Leadership, teamwork, communication, productivity, and wellness skills are essential for every employee's success.
According to analyst firm RedSeer, the absence of cash on delivery has hit daily e-commerce sales by 30% over the past few days.
The old note will continue to be accepted for other utility bill payments as well as at railway ticketing counters and counters of government or public sector undertaking buses for purchase of bus tickets till December 15
The thrust, they feel, remains on design thinking, AI and digital besides enhanced focus on investing in selling and marketing efforts, expanding local talent base and re-skilling staff
India's state-owned institutes have literally been forced to embrace technologies to go digital - however reluctantly. Till the museum reopen, the magic mantra has been "online", "cyber", "virtual" - a transition that has been less smooth for most art institutions than one might have hoped. The first of a four-part series, Kishore Singh turns the gaze to some of India's leading art institutions to see how they are keeping the show going.
Zomato's initial public offer (IPO) is scheduled to open for subscription on July 14 and is priced between Rs 72 - 74 per share. At the upper end of the price band of the offering, the company aims to raise Rs 9,350 crore. Most analysts have given a 'subscribe' rating to the issue for listing gains.
"If the money is legitimate which had been previously withdrawn from bank or earned legally and saved and had been disclosed, there is nothing to worry about," Jaitley said.
The Hyderabad-born Nadella says it's not the AI engine, but the teams that build it as well as the algorithms to make it intelligent have to be diverse and inclusive, so that the solutions they build do not show up any sort of 'unconscious bias' that they may have.
Infosys, HCL might fare marginally better than TCS.
Investors are already factoring in the impact. The IT Index on the BSE exchange dipped 2.5 per cent, with Infosys, Wipro and TCS showing a decline.
Craig Wright identified himself as Satoshi Nakamato, the pseudonym he says he created when launching the currency in 2009.
For the entire 2016-17, TCS saw its net profit growing 8.3 per cent to Rs 26,289 crore while revenue was up 8.6 per cent at Rs 117,966 crore
It had reorganised its India business by carving out public sector undertaking and government businesses. Besides the company had also split its India and West Asia businesses.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
'Today, there is no easy money to be made after the run-up in equities.'
Most positives seem to be factored into current valuations.
The industrial production grew by two per cent in September, mainly on account of better performance by power and mining sectors.
IT industry body Nasscom on Tuesday said the sector will regain double-digit growth from April next year leaving behind the prolonged recession.
Earnings growth in the early-bird sample has been driven by banks and iron & steel companies.
'The mindset of people needs to change.' 'We still believe in accepting cash when we can do business with digital money as well.'
Will Infosys, which will announce its Q2 results on Tuesday, be able to break away from the single-digit growth rates the IT services sector has been seeing?
A modern economy with strong global linkages must switch to million, billion and so on, says T N Ninan.
'What's the point in lamenting widespread toxic work culture, and the capitalist system that gives rise to it if there is no alternative?' 'Actually, there is,' says Ashish Sharma.
Snapdeal said it will give its users the option to defer the delivery by a few days till new currency notes become easily available.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
"The theme of tomorrow's meeting is 'Economic Policy Reform, Road Ahead'. The prime minister will make opening remarks. There are 15 invitees who will make their presentations before the prime minister," a senior government official said.
