A former bureaucrat turned politician puts the spin on the demonetization narrative. Black money is like a chameleon. Its multiple forms — in cash, real estate and gold, in tax havens, shell companies and benami properties — make its detection difficult. That is why when asked the reason for frequently changing goalposts after demonetisation, Prime […]
Demonetisation of high value currency notes of Rs 1000 and Rs 500 on 8 November 2016 shook India, disrupting normal behaviour in Indian politics, economy and society. The ‘ruling coalition’ tom-tomed about this ‘big-bang step to unearth black money’, impair terrorism funding and weed out ‘fake currency’ from the system. The opposition on the other […]
NEW DELHI: The central bank will soon issue 200-rupee note the Finance Ministry has confirmed today. The move will help fill the vast demand for cash after the notes ban, which wiped out over 85 per cent of the cash in circulation. The Finance Ministry, in a notification, said that on the recommendations of the […]
Seema Kumari asks whether the banks are out to rob the poor and profit the rich. Bihar is one of the poorest states in India. There are many people who earn less than Rs 3000 per month. They live from hand to mouth. Some of them even don’t get two square meals in a day. […]
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 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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
