8.9 crore Rs. 1000 currency note have not been returned post demonetisation, says RBI
New Delhi, Aug 30 (IBNS): The Reserve Bank of India on Wednesday said 8.9 crore pieces of Rs. 1,000 notes have not returned till March 2017.
ASSOCHAM seeks RBI nudge to banks for full transmission of interest cuts, post- note ban
ew Delhi, Feb 5 (IBNS): As the Monetary Policy Committee of the Reserve Bank of India meets on February 7 and 8 for next bi-monthly credit policy, apex industry body ASSOCHAM has impressed upon the central bank and the Finance Ministry to ensure adequate transmission of cuts in the interest rates even as the industry would seek at least 50 -75 basis point reduction in the benchmark lending rates, post demonetization.
Note ban has negative impact on SMEs; large firms can benefit in long run: ASSOCHAM Bizcon
Chennai, Jan 23 (IBNS): Demonetisation of high value currency notes would leave quite a negative impact on small and medium enterprises, rural consumption and job creation in the immediate run while the large and well organised sectors of the corporate India stand to benefit in the long term horizon, the latest ASSOCHAM Bizcon Survey pointed out.
Note scrapping can do little to stop future generation of black money: ASSOCHAM study
New Delhi, Jan 18 (IBNS): Demonetisation may wipe out the stock of black money held in cash but can do little about the ill-gotten wealth converted to assets like gold and real estate and the scrapping of high value notes does not prevent the future generation of unaccounted money, said an ASSOCHAM study on Currency Demonetisation.
Government respects independence and autonomy of RBI, says Finance Ministry
New Delhi, Jan 14 (IBNS): The Ministry of Finance on Saturday said the government respected the 'independence and autonomy' of the Reserve Bank of India.
Currency Ban: Arun Jaitley says that difficult decisions initially pass through difficult phases
Gandhinagar, Jan 11 (IBNS): Union Finance Minister Arun Jaitley on Wednesday reiterated the advantage of taking bold and courageous decisions to transform Indian economy.
Growth will be lower because of demonetisation: Chidambaram
New Delhi, Jan 7 (IBNS): Congress leader P Chidambaram on Saturday attacked the Centre over the note ban issue and said the move will lower India's growth.
Out of those who tried, 43% found ATMs non-functional past weekend, says survey
New Delhi, Nov 29 (IBNS): The availability of functioning ATMs doesn’t seem to be improving. Banks have been claiming that most of their ATM network is back online but if the citizen pulse is to be believed, 43% people who tried to withdraw money from an ATM were unable to get money between Nov 25-28th, compared to the 39% between Nov 18-20th.
MDR waived for debit card transactions at ICICI Bank merchants
Mumbai, Nov 23 (IBNS): ICICI Bank on Wednesday announced that its merchant acquiring arm, ICICI Merchant Services Ltd (IMSL) has waived the Merchant Discount Rate (MDR) on debit card transactions at all merchants serviced by IMSL.
Demonetisation: Rahul Gandhi demands a joint Parliament committee to probe move
New Delhi, Nov 23 (IBNS): Congress Vice President Rahul Gandhi on Wednesday said that the move by Prime Minister Narendra Modi to demonetise INR 500 and 1000 notes is a scam and demanded a joint Parliament committee to probe it.
New Delhi, Nov 21 (IBNS): In order to further support farmers for the current Rabi crop, the Government on Monday said it has decided to allow farmers to purchase seeds with the old high denomination bank notes of Rs.500 from the Centres, Units or outlets belonging to the Central or State Governments, Public Sector Undertakings, National or State Seeds Corporations, Central or State Agricultural Universities and the Indian Council of Agricultural Research (ICAR), on production of proof of identity.
686 petrol pumps starts dispensing cash against swiping of debit cards
New Delhi, Nov 18 (IBNS): Cash dispensing facility had become operational at 686 retail outlets by 4 p.m on Friday, of which 350 belonged to IOCL, 266 to BPCL and 70 to HPCL, officials said.