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DEMONETISED NOTES
Axis Bank ordered to pay ₹3.19 crore for refusing demonetised notes in 2016Axis Bank must pay Procure Logistics Services Pvt Ltd Rs 3.19 crore. The National Consumer Disputes Redressal Commission found the bank def...- Post demonetisation, notes in circulation on rise; so are digital paymentsOn November 8, five years ago, Prime Minister Modi had announced the demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key...
- Demonetised notes are being shredded, briquetted: RBIThe central bank had earlier estimated the value of old Rs 500 and Rs 1,000 notes received, as on June 30, 2017, at Rs 15.28 trillion.
- Some nations still have old notes, exchange unlikelyThe discussion on demonetised currency still held abroad provided an interesting twist to the deliberations of the committee, which is prep...
- 66 machines being used for counting demonetised notes: RBIIn its annual report for 2016-17 released on August 30, it had said Rs 15.28 lakh crore, or 99 per cent of the demonetised Rs 500 and Rs 1,...
- View: New window to exchange old notes a welcome suggestionThe government should respond positively to the suggestion. Indian residents had a 50-day window up to December 30 last year to deposit the...
- 15 Army teams to be deployed in major RBI offices by ThursdayArmy sources said two teams had already been working with the RBI and the additional manpower will help the bank in shredding of the demone...
- People sending demonetised notes abroad by courier: CustomsCustoms officials have registered a few cases, where demonetised banknotes were sent abroad by courier, and seized over Rs 1 lakh in such n...
- Orphaned siblings write to PM for exchange of Rs 96,500 in old notesThe cash was found in a box earlier this month during a police survey at one of their locked paternal houses in Sarawada village.
- Honest citizens will not be harassed by Income-tax Department: CBDT chiefThe dept has used an in-house software to analyse and segregated deposits, particularly those over Rs 1 crore not matching with returns fil...
- Estimates of demonetised notes back with banks may be incorrect: RBIAccording to a Bloomberg report, nearly 97% of the banned notes may have been deposited, dealing a blow to Prime Minister Narendra Modi’s d...
- No jail term for holding demonetised notes; minimum fine to be Rs 10,000Earlier, the Cabinet approved the promulgation of an ordinance extinguishing the Reserve Bank of India's liability for cancelled Rs 500 and...
- Up to Rs 50,000 fine for holding old notes after December 30The penalties have been set out to prevent exploitative distribution of old money as wages and payments to the poor.
- Worry, collectors of demonetised currencyWill making papier-mâché out of defunct Rs 500 and Rs 1,000 notes be punishable?
- Retailers asked to accept old Rs 500 note for recharges: COAIOperators have provided strict guidelines to their distributors and retailers for accepting and processing Rs 500 demonetised notes, said R...
- Over half of the demonetised notes are exchanged; bank queues to ease soonOf the Rs 10-11 lakh crore worth of demonetised notes expected to be surrendered by December 31, cash worth Rs 5.4 lakh crore has already b...
- Demonetisation: Karnataka CM urges Jaitley to allow DCC banks to accept notes from farmersSince DCC banks are debarred from accepting the demonetized notes, farmers are unable to remit cash.
- Venkaiah Naidu writes to Rajnath to probe illegal exchange of demonetised notesI&B minister M Venkaiah Naidu has written to Home Minister for a probe following a media sting claiming that demonetised notes of Rs 1000/5...
- Indians in China should demonetise notes in India: EmbassySeveral Indian banks branches and representative offices are present in China and Hong Kong but they deal with bilateral trade.
- What happens to the demonetised notesGlobally, central banks destroy mutilated notes through various means, including setting them on fire to heat buildings.
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