- Modi scrapped 500-rupee and 1,000-rupee banknotes on Nov. 8 in a bid to flush out cash earned through illegal activities, or earned legally but never disclosed to the taxman.
- Humsafar will have improved aesthetics with new interior and exterior colour scheme.
- Gold prices fell Rs 130 to hit a 10-month low of Rs 28,580 per 10 grams Friday amid a weakening global trend and considerable fall in demand from jewellers at the domestic spot market.
- Government has garnered Rs 146 crore by way of 'Equalisation Levy', which was introduced in this year's Budget to tap tax on income accruing to foreign e-commerce companies from India.The post Government gets Rs 146 crore from equalisation levy till Dec 2016-17 appeared first on The Financial Express..
- The Supreme Court on Friday resumed hearing on the pleas filed against government's demonetisation drive and sought to know from the government if the policy was confidential when it was being made.
- "Steps have been taken to ensure availability of cash in rural branches of Banks and 1.55 lakh Post Offices. The network of 1.2 lakh Banking Correspondents has also been activated with higher cash holding limits," the Finance Minister added.
- Currency notes are supplied by the RBI through currency chests maintained in the banks, keeping in mind the requirement in various areas and regions, he said in a written reply to Lok Sabha.
- India on Thursday scrapped its 10 percent import duty on wheat after droughts in the past two years depleted stocks and raised prices, a move traders said could lift overseas purchases to their highest in a decade.
- The impact of demonetisation will only be short-term and India's growth momentum is likely to get back on recovery path from April next year with support from consumption and exports, says a Morgan Stanley report.
The post India growth on recovery path from April next: Morgan Stanley appeared first on The Financial Express..
- India has expressed reservations on World Bank's 'Doing Business Report' where it has been ranked 172 amongst 190 countries, Finance Minister Arun Jaitley said Friday.
- A person making payment exceeding in aggregate of Rs 1 lakh a year to a non-resident, who does not has a permanent establishment in India, for online advertisement has to withhold 6 per cent of the amount paid as Equalisation Levy from June 1, 2016.
- The upcoming bank holidays for three consecutive days could further add to the woes of people amidst existing cash crunch situation in the country.
- "It has been decided to print banknotes based on plastic or polymer substrate. The process of procurement has been initiated," Minister of State for Finance Arjun Ram Meghwal said in a written reply in Lok Sabha to a query whether RBI proposes to print plastic currency notes in place of paper ones.
- 2016 was a big year for SUVs, crossovers and other utility vehicles. So what's in store for 2017?
- Possible US Fed rate hike, OPEC decision to cut crude production and redemption of FCNR deposits are causing volatility in the rupee. Here is a quick video to help you understand why the rupee is falling.
- Chinese producer prices rose at their fastest pace for five years in November, Beijing said Friday, fuelling hopes that the world`s factory can export inflation into a lacklustre global economy.
- Modi's announcement on November 8 that he was withdrawing 500 and 1,000 rupee bank notes in an attempt to curb corruption and tax evasion made it much harder for consumers to make purchases in the predominantly cash-based economy.
- There was no import of goods from Pakistan on Thursday, the second consecutive day after the suspension of work by porters at the Integrated Check Post (ICP) in Attari, as a majority of Indian traders had asked Pakistani traders to freeze the movement of trucks until cash flows normalise in India.
The post Demonetisation hits Indo-Pak trade, not a single truckload of goods at Attari appeared first on The Financial Express..
- Vijay Mallya tweeted on Friday that an outfit called Legion has hacked his emails and Twitter account.
- The idea of Ramrajya is so powerful that masses remain inspired by it even though they have been exploited and betrayed by the rulers of the past. Ramrajya, in reality, may be a utopia but masses have a fairly definitive and practical image of it.The post Demonetisation: The euphotia, pains and pitfalls of establishing Ramrajya appeared first on The Financial Express..
- The idea of Ramrajya is so powerful that masses remain inspired by it even though they have been exploited and betrayed by the rulers of the past. Ramrajya, in reality, may be a utopia but masses have a fairly definitive and practical image of it.The post Demonetisation: The euphoria, pains and pitfalls of establishing Ramrajya appeared first on The Financial Express..
- Expect the new Swift to make its global debut in the first half of 2017, with the launch in India taking place shortly after.
- The benchmark BSE Sensex advanced nearly 109 points at the start of trading today after buying by investors and foreign funds gathered momentum amid strong global cues.
- The 30-share index was trading higher by 108.98 points, or 0.40%, at 26,803.26, with sectoral indices led by IT, consumer durables, realty, capital goods, auto and metal stocks emerging as major gainers, rising by up to 1.31%.
- Prime Minister Narendra Modi handpicked a trusted bureaucrat, little known outside India`s financial circles, to spearhead a radical move to abolish 86 percent of the country`s cash overnight and take aim at the huge shadow economy.
- Fraudsters have found one more ploy for cheating people and are using demonetisation as an opportunity and attempting to extract confidential information like bank details from common public.
- Changes to the import duty framework will be in focus in the budget.There are two components of import duty: basic customs duty and countervailing duty.
- "Our 2017 outlook on more than three-quarters of the banks in the region is negative. Though earnings and capital buffers are generally strong enough to withstand these trends, we expect viability ratings to remain under pressure in China and India," Fitch said in a report.
- "The GST roll-out in itself is destabilising but for a good cause. It is destabilising on the exchequer of all states," West Bengal finance minister Amit Mitra told reporters at the state secretariat.
- Modest relaxation on withdrawal limits post December 30 is on cards, but relief depends on how much more currency is pumped into the system.
- The pilot project will be started at airports in Delhi, Mumbai, Kolkata, Chennai, Hyderabad and Bengaluru.
- "The much-awaited package for the made ups sector approved by the Union Cabinet with the primary objective of creating large scale direct and indirect employment to employ upto 11 lakh persons over the next three years in this sector," the Cotton Textiles Export Promotion Council (TEXPROCIL) Chairman Ujwal Lahoti said here.
- Less than a month after the government demonetised old Rs 500 and 1000 notes in its biggest step to fight black money, corruption and counterfeit currency, nearly Rs 11.85 lakh crore out of the Rs 15.44 lakh crore junked notes were back into the system.
- The Indian economy in the past 10 years has well been brought back on track by Prime Minister Narendra Modi, from where former BJP Prime Minister Atal Bihari Vajpayee had left, he said in a recorded message to IIT Jodhpur students on the occasion of its third convocation.
- RBI has said that the Sovereign Gold Bonds (SGBs) issued on November 17 will become eligible for trading on stock exchanges from Friday onwards.
- There is a need to convince the public to take the digital route for making transactions, says Arvind Panagariya, Vice Chairman of NITI Aayog. But the issue of cyber security remains and will be looked into, he adds.
- Hasmukh Adhia, the bureaucrat, and five others privy to the plan were sworn to utmost secrecy, say sources with knowledge of the matter. They were supported by a young team of researchers working in two rooms at Modi's New Delhi residence, as he plotted his boldest reform since coming to power in 2014.
- The partnership will endure due to the commitment to building on the tremendous progress already made to help make India's cities smart, efficient, and prepared for sustainable growth in the decades ahead, Carlson said.
- The old high denomination notes were demonetised from November 9. Since then long queues are being witnessed at bank branches and outside ATMs for cash withdrawal.
- Asian shares flatlined on Friday but were on track for robust weekly gains, while the euro caught its breath after sliding when the European Central Bank trimmed the size of its asset purchase program
The post Asian shares flat but on track for weekly gains appeared first on The Financial Express..
- The Employees’ Provident Fund Organisation has asked the labour ministry to raise the wage ceiling for mandatory EPF cover to R25,000 a month from R15,000 now for organised-sector workers.The post EPFO asks labour ministry to raise mandatory wage ceiling to Rs 25,000 per month appeared first on The Financial Express..
Demonetisation: Nabard to support banks in drive to install 2 PoS devices per village in over 100,000 villagesNabard on Thursday announced that it will extend support to banks for deployment of two PoS devices per village in one lakh villages of Tier 5 and 6 areas having a population of up to 10,000.
The post Demonetisation: Nabard to support banks in drive to install 2 PoS devices per village in over 100,000 villages appeared first on The Financial Express..
- The government has sent officials to various textile and garment clusters across the country to facilitate the opening of bank accounts for workers, including the casual ones.
The post Govt rushes officials to textile hubs to ease demonetisation pain of workers appeared first on The Financial Express..
- A month after it revoked the legal tender character of specified series of banknotes — all of Rs 500 and Rs 1,000 denominations — and in view of the resultant persistent pain to people at large and undermining of economic activities, the government on...
The post Demonetisation: Arun Jaitley gives e-payments a boost, makes petrol to railways services cheaper appeared first on The Financial Express..
- Foreign portfolio investors net sold Indian paper worth $305.1 million on Wednesday, taking their net sell-off for the quarter to $6.2 billion, according to data published by National Securities Depository.
The post FPIs sell $6.2-billion debt so far in December quarter appeared first on The Financial Express..
- RBI surprised with a status quo on policy, premised on upside risk to Q4FY17 inflation and limited transient growth drag owing to demonetisation.
The post RBI rate cut: 25-50 bps reduction in CY17 possible, says Kotak appeared first on The Financial Express..
- Digital payments and commerce platform Paytm's founder and CEO Vijay Shekhar Sharma has sold 1% of his holding in One97 Communications to raise about Rs 325 crore.
- Prime Minister Narendra Modi handpicked a trusted bureaucrat, little known outside India's financial circles, to spearhead a radical move to abolish 86 percent of the country's cash overnight.
The post Who knew? PM Narendra Modi’s black money move kept a closely guarded secret appeared first on The Financial Express..
- RBI today said that currency notes worth over Rs 4.27 lakh crore have been issued to public through banks and ATMs following the demonetisation of old high value bills.
The post Issued Rs 4.27 lakh crore notes post demonetisation: RBI appeared first on The Financial Express..
Cheaper petrol, free insurance for e-rail bookings: Government&#039;s 11 incentives to promote digital paymentsCentral Government has decided on a package of incentives and measures for promotion of digital and cashless economy in the country.
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