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Tag Archives: demonetisation

500, 2000 Rupee Notes To Get New Security Features Every 3-4 Years

To check fraud, the government plans to change the security features of higher denomination banknotes of Rs. 2,000 and Rs. 500 every 3-4 years in accordance with global standards. The move comes in the wake of recovery of a large amount of fake Indian currency notes in last four months ... Read More »

Rs 6,000 crore and counting: Windfall from tax on stashed cash after note ban

NEW DELHI: Vice-chairman of the special investigation team (SIT) on black money, Justice Arijit Pasayat, said on Friday that after demonetisation, the Centre has collected around Rs 6,000 crore as tax on unexplained cash deposits so far, and the amount could go up. Tax authorities sought explanation from individuals, who ... Read More »

Govt notifies law to make banned note possession punishable

New Delhi : The government has notified the law that makes holding of more than 10 scrapped notes punishable with a minimum fine of Rs 10,000. The Specified Bank Notes (Cessation of Liabilities) Act, 2017, was passed by Parliament last month with a view to eliminating the “possibility of running a ... Read More »

BMC poll results: BJP’s win in civic polls a mandate on transparency, says Fadnavis

MUMBAI: As it put up a sterling performance in civic polls across Maharashtra including the cash-rich BMC, Chief Minister Devendra Fadnavis today said BJP’s victory resulted from a vote for transparency and demonetisation. A jubilant Fadnavis, who spearheaded BJP’s poll campaign, said the party’s core committee will decide the future course of action in Brihanmumbai […] Read More »

India’s GDP projected to slow to 6.6 pc post-demonetisation, says IMF

WASHINGTON: India’s growth is projected to slow to 6.6 per cent in 2016-17 fiscal due to the strains that have emerged in the economy as a result of “temporary disruptions” caused by demonetisation, the IMF said today. In its annual report, however, the International Monetary Fund (IMF) said demonetisation would have only short term impact […] Read More »

No plans to introduce Rs 1,000 notes: Shaktikanta Das

NEW DELHI: The government has no plans to re-introduce Rs 1,000 and will focus instead on issuing lower denomination currency notes, Economic Affairs Secretary Shaktikanta Das said on Wednesday. “(There are) no plans to introduce Rs 1,000 notes. Focus is on production and supply of Rs 500 and lower denomination notes,” Das tweeted. His clarification […] Read More »

Huge amount of fake Rs 2,000 notes seized from Bangla border in WB

Kolkata: BSF on Wednesday seized 100 fake Rs 2,000 currency notes from Malda district in West Bengal, making it the biggest such haul from the Indo-Bangla border region post demonetisation. Officials said a Border Security Force search party laid a trap at about 2 am in a mango orchard in the Churiantpur area and found […] Read More »

Seetaphal growers in tribal area least worried of demonetisation drive

Udaipur : While the liquidity crisis is deeply affecting industries, trade and commerce in the urban areas,  Seetaphal (custard apple) growers/ pluckers in the tribal areas of Udaipur region seem to have discovered some sort of immunity against the cash crunch. At a time when sales are dipping, each tribal household ... Read More »