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Cash ban leads to less cash withdrawal, trouble ahead?

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Cash ban leads to less cash withdrawal, trouble ahead?

New Delhi: Cash withdrawal has been falling rapidly, post demonetisation, as borne out by the fact that it is down to Rs 32,500 crore in the week to March 24 from a peak of Rs 52,800 crore for the week ended January 13, says a report. According to SBI research report Ecowrap, even in the […]

New Income Tax return form, e-filing starts Saturday

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New Income Tax return form, e-filing starts Saturday

New Delhi, Mar 31 (PTI) The government on Friday notified a simpler, one-page form for filing income tax returns while making it mandatory to quote Aadhaar number and disclose bank deposits of more than INR 2 lakh post demonetisation. The Income Tax Return Form-1 (Sahaj) will replace the 7-page form, removing a plethora of columns […]

Nestle lost 100 crore due to Cash Ban

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Nestle lost 100 crore due to Cash Ban

New Delhi:  FMCG major Nestle says  it has taken Rs 100 crore hit on sales due to demonetisation and the sector will take another six months to overcome the impact of the government’s move to scarp old high value notes, according to a PTI report. “We took an impact in November. If you look on […]

RBI vs EC:  RBI Refuses to raise cash limit for Assembly contestants

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RBI vs EC: RBI Refuses to raise cash limit for Assembly contestants

New Delhi: Is it the Chief Election Commissioner versus the Governor of the Reserve bank? The EC asked the Reserve Bank to raise the cash withdrawal limit for those contesting Assembly Polls. RBI refused point blank! The Reserve Bank of India (RBI) has rejected the request of the Election Commission to enhance the weekly cash-withdrawal […]

CBI, NIA in banknote fix!

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CBI, NIA in banknote fix!

New Delhi: Demonetisation has proved to be a major headache for the law enforcement agencies. The money that was seized as evidence will be worthless if not deposited in banks … but how then will they produce the evidence(the same bank notes) in court during trial? Probe agencies like CBI and NIA have found themselves […]

‘We owed Demonetisation to the Nation’

‘We owed Demonetisation to the Nation’

Davos, Jan 19 (PTI) The Modi government “owed” demonetisation to the nation and it had to do it to eradicate black money menace and to bring hoarded cash back into the banking system, Union Minister Nirmala Sitharaman said on Thursday. Speaking at a panel decision at WEF on India’s Time to Transform, she said it […]

India has ‘Mass corruption’ and we can address it: Paytm Chief

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India has ‘Mass corruption’ and we can address it: Paytm Chief

Davos:  India is a country with “corruption at mass level”, Paytm chief Vijay Shekhar Sharma said (Jan 19) Digitisation would lead to a process where the money trail would ensure that people would be asked to pay tax on the money they have earned. He said the Paytm business model could help address this corruption. […]

No more ‘cashless’ at Petrol Pumps in India?

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No more ‘cashless’ at Petrol Pumps in India?

Petrol pump owners late on Jan 8 night deferred till January 13 their decision to not accept credit and debit card payments for fuel sales after banks put off the move to levy the transaction (MDR) charge. To promote cash-less transactions, the government had waived the Merchant Discount Rate (MDR) on fuel purchase post demonetisation […]

Oz warns Aussie Tourists on Cash Ban fallout!

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Oz warns Aussie Tourists on Cash Ban fallout!

Melbourne: The Government of Australia has advised its citizens travelling to India to not to bank heavily on cash, even 100 dollar notes! It advised Aussie tourists to use electronic payments. It said that some visitors are facing difficulties in exchanging 100 dollar notes in India after demonetisation. In the latest advisory issued yesterday, Department […]

Ghost shopper uses debit card to leave man almost ‘cashless’!

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Ghost shopper uses debit card to leave man almost ‘cashless’!

Thane, Bombay (Mumbai): He woke up one morning to find almost rupees two lakh deducted from his debit account by a ‘ghost shopper’, who apparently went on a shopping spree! He stared at his debit card in his hand, scratching his head in disbelief, after which he let out a yell and a torrent of […]

Parl Committee Questions ‘Cashless’ Security

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Parl Committee Questions ‘Cashless’ Security

New Delhi: Is all this shoving the country towards a cashless economy really safe? That’s the question thrown up by a Parliamentary Standing Committee. Is data transfer on these new ‘pockets’ and ‘wallets applications really safe, or will new users find that their bank accounts are broken into by hackers? Do we have proper laws […]

‘Old note’ holders will be punished: new proposal!

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‘Old note’ holders will be punished: new proposal!

New Delhi, Dec 28: This cash ban soap opera  never ends the twists and turns ! The government has come up with a new rule once again! Two days before the deadline for depositing old 500 and 1,000 rupee notes expires, the Cabinet today approved promulgation of an Ordinance to make possession of a large […]

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