Tag Archives: DeMonetisation

Meeting of SIT on Black Money begins in Cuttack

SIT

The high-level meeting of the Special Investigating Team (SIT) on the issues of black money headed by former Supreme Court Judge Justice Arijit Pasayat begins at Cuttack today. Senior Officer of the Income Tax department, Shyama Prasad Choudhury, DGP KB Singh, Vigilance DG RP Sharma and many other Government officers are also present at theContinue Reading…

Economic Growth will make Sharp Recovery, says RBI Governor

RBI Governor

Reserve Bank of India (RBI) Governor Urjit Patel on Friday said India’s economic growth will make a sharp recovery following the recall of old 500 and 1,000 rupee notes, in an interview to CNBC-TV18. Patel pitched a strong case for continuing with globalisation, even in the face of a potential shift to trade protectionism underContinue Reading…

RBI raises ATM withdrawal limit to Rs 10,000 from Rs 4,500

atm

The Reserve Bank of India (RBI) on Monday increased the daily limit for ATM withdrawals from current Rs. 4,500 to Rs 10,000 per day with immediate effect. Overall Weekly Withdrawal Limit remains Rs 24,000. However, limit on withdrawal from current accounts increased from current limit of Rs 50,000 per week to Rs 1 lakh perContinue Reading…

Debate on President Mukherjee’s Observation on Demonetisation

Pranab Mukherjee

Do you agree with President Pranab Mukherjee’s observation that #Demonetisation drive is good for fighting black money and corruption, but may lead to temporary economic slowdown and could aggravate the suffering of the poor? Sai Papu: Yes. Agree with the views of President. Debi Prasanna Mohapatra: He is just reiterating what most of people areContinue Reading…

PM Modi announces New Housing Schemes for Poor, Middle Class

pm

Wishing the Nation on New Year, Prime Minister Narendra Modi dedicated a slew of development projects including two new housing schemes which will benefit the economically backward sections as well as pregnant women. PM Modi, in his address congratulated people for backing the Government’s demonetisation exercise. Highlights: * Under PM Awaas Yojana in urban areas,Continue Reading…

Deadline to deposit junked Rs 500, Rs 1000 Notes ends today

money

The deadline to deposit the old Rs 500, 1,000 notes in banks comes to an end today. The Reserve Bank of India (RBI) on Friday notified the closure of the deposit and exchange of the demonetised Rs 500 and Rs 1,000 currency notes in banks. RBI has asked bank branches to deposit all old RsContinue Reading…

Debate on Ordinance related to Demonetisation

modi-demonetisation

As said by PM Modi on Nov 8, all old Rs 500 and Rs 1,000 Notes would become a piece of paper without any value. Then, why this Ordinance with the provisions of fine (jail term decision was reversed) for those who possess these “worthless papers”? Vijaya Singh: Because these notes are like promissory notesContinue Reading…

No Jail term for holding Old Notes; minimum fine to be Rs 10,000

old-notes

A day after the Cabinet promulgated an ordinance for holding more than 10 junked Rs 500 and Rs 1000 notes an offence, government officials on Thursday cleared that there will be no jail term for holding demonetised notes and the minimum fine will be Rs 10,000. Yesterday the Cabinet headed by Prime Minister Narendra ModiContinue Reading…

Cabinet promulgates Ordinance with 4yr Jail term for holding Old Notes

old-rs-500-1000-notes

Government promulgated an ordinance with a provision of 4-year jail term for holding the junked Rs 500 and Rs 1000 notes after December 30. According to the new rule approved by the Government today, a person will be allowed to hold maximum 10 number of banned currency notes. Having more than 10 banned notes willContinue Reading…

Centre allows Payments to PMGKY in old Demonetised Currency till Dec 30

money

The Central Government has issued a notification stating that the payment towards tax, surcharge, penalty and deposit under the Pradhan Mantri Garib KalyanYojana (PMGKY) can be made in Old Bank Notes of Rs. 500 and Rs.1,000 till 30th December, 2016. The Taxation and Investment Regime for Pradhan Mantri Garib KalyanYojana (PMGKY), 2016 has commenced onContinue Reading…


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