NRIs can exchange old currency notes by June 30, 2017: RBI

Sun, 01/01/2017 - 00:04

New Delhi, Jan 1 (IANS) The Reserve Bank of India (RBI) on Saturday said that it will introduce a facility for exchange of old specified bank notes for Indian residents and NRIs, who were abroad from November 9 to December 30.


Demonetisation stymied GST roll-out by April 2017

Sat, 12/31/2016 - 12:36

New Delhi, Dec 31 (IANS) The year was supposed to be that of final preparations for rolling out the comprehensive reform of India's indirect tax system through the Goods and Services Tax(GST), but progress towards meeting the government's implemention target of April 2017 was stymied by its November move to demonetise high-value currency.


2016: Year when a disunited opposition tried, but could not strike

Sat, 12/31/2016 - 11:10

New Delhi, Dec 31 (IANS) The Narendra Modi government came under increasing attack by opposition parties through the year over a range of issues, including demonetisation, but larger opposition unity remained elusive due to the competing interests of political outfits opposed to the ruling BJP-led alliance.


Why continue restrictions on withdrawing money: Chidambaram

Sat, 12/31/2016 - 10:38

New Delhi, Dec 31 (IANS) Congress leader and former Finance Minister P. Chidambaram on Saturday targeted Prime Minister Narendra Modi and asked the Centre why restrictions continued on withdrawing money after the deadline of December 30 for restoring order post-demonetisation had past.


2016: The most momentous year for RBI since Independence

Fri, 12/30/2016 - 12:34

Mumbai, Dec 30 (IANS) The year 2016 has been the most momentous since India's Independence for the Reserve Bank on account of a trinity of events -- Raghuram Rajan's exit from the governorship, the decision on interest rates for the first time by a Monetary Policy Committee and the demonetisation of high-value currency last month.


On last day of Modi's 50-day grace period, cash woes continue

Fri, 12/30/2016 - 12:04

New Delhi, Dec 30 (IANS) On the last day of Prime Minister Narendra Modi's 50-day grace period to set right the demonetisation woes, the same set of problems continues to trouble people across the country over access to cash on Friday.


Demonetisation: Last day to deposit scrapped notes

Fri, 12/30/2016 - 10:26

New Delhi, Dec 30 (IANS) The deadline to deposit old Rs 500 and Rs 1,000 notes in banks ends on Friday. From next week onward, those still holding the scrapped currency can deposit it only with the Reserve Bank of India till March 31, 2017.


Demonetisation will transform Indian economy: RBI governor

Fri, 12/30/2016 - 00:48

Mumbai, Dec 30 (IANS) On the eve of the deadline for citizens to deposit demonetised currency in banks, Reserve Bank of India (RBI) Governor Urjit Patel said that demonetisation will have a transformative effect on the economy going forward, despite some short-term disruptions and "public hardship".


Demonetisation a tough but apolitical decision: PM Modi

Thu, 12/29/2016 - 22:58

New Delhi, Dec 29 (IANS) Prime Minister Narendra Modi has strongly defended his widely-criticised demonetisation move, calling it a "difficult" but apolitical decision that was taken to rid the Indian economy and society of the "menace" of black money, corruption, and terrorism.


Demonetised notes ordinance should not impact common man: Mamata

Wed, 12/28/2016 - 22:18

Kolkata, Dec 28 (IANS) Terming the proposed ordinance on the possession of demonetised currency post March 31 as "forceful", West Bengal Chief Minister Mamata Banerjee on Friday said such laws should not impact the life of common man.


Keeping banned notes after March 31 to be criminal offence

Wed, 12/28/2016 - 21:40

New Delhi, Dec 28, The cabinet on Wednesday approved an ordinance which makes possession of demonetised Rs 500 and Rs 1,000 notes beyond March 31, 2017 illegal, providing for a jail term for violators.


50 days of demonetisation: Modi continues to face opposition fire

Wed, 12/28/2016 - 20:46

New Delhi, Dec 28 (IANS) Fifty days after Prime Minister Narendra Modi announced the scrapping of old Rs 500 and Rs 1,000 currency notes, he continued to be in the firing line of the opposition on Wednesday. If the Congress demanded a White Paper on the November 8 note ban, the CPI-M said Modi had a lot to hide.