The Reserve Bank of India (RBI) has come out with conditions for exchange of defunct notes for those, including non-resident Indians, who failed to do so till Friday, the last day for depositing the invalid currency notes in banks.
State Bank of India, the country`s biggest lender by assets, said on Sunday it had cut its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits.
Now one can withdraw more from cash from banks ATMs. The Reserve Bank of India, via a circular on Friday, had announced increase in cash withdrawal limit per day per card from ATMs from January 1, 2017 .
Simplifying the process, pension fund regulator PFRDA has dispensed with the requirement of submission of physical application form for NPS account opening if done through Aadhaar verification and e-Signature.
Deposits in Jan Dhan account have more than doubled to Rs 87,000 crore in 45 days post demonetisation, prompting the tax department to "dissect" information relating to such deposits, a top government official said.
Finance Minister Arun Jaitley should double the basic income tax exemption limit to Rs 5 lakh per year and raise the ceiling for claiming deduction under Section 80C to Rs 2.50 lakh, according to a survey by tax consultant Deloitte.
People still have time to exchange the currency notes at designated RBI counters till March 31 after giving valid reasons for not depositing defunct notes in their accounts by December 30.
President Pranab Mukherjee on Friday promulgated the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016, which criminalises holding of Rs 5,00 and Rs 1,000 notes, and makes holding, transferring and receiving of these specified bank notes illegal and punishable with imposition of penalty.
Just a few days ago of the demonetisation of rupees 5,00 and 1,000 notes, Twitter was abuzz with images of the pink coloured Rs 2000 note bundles.
Prime Minister Modi is soon going to announce lucky draws for boosting cashless transactions.
The information was sought by an RTI activist Venkatesh Nayak.
While many expect the government to extend the deadline of December 30 for deposit of invalid Rs 500 and Rs 1,000 notes, the government has time and again reiterated that it has no plans to do the same.
The Ordinance approved by the Union Cabinet on Wednesday to make holding of old 1,000 and 500 rupee notes after March 31 beyond a threshold amount a criminal offence will attract a minimum monetary fine of Rs 10,000.
As the 50-day deadline for completion of demonetisation process draws near, people have just Friday to deposit old Rs 500, Rs 1,000 notes, pinning their hope on an extension of the date.
No one will be able to pay tax, surcharge, penalty and deposits under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) scheme in demonetised notes after December 30, even though the scheme will continue till March 31, 2017, an Income Tax official said on Wednesday.
In view of cash crunch being faced by borrowers, the RBI on Wednesday provided additional 90 days for repayment of housing, car, farm and other loans worth up to Rs 1 crore.
The Union cabinet on Wednesday approved the Ordinance on deadline to deposit old notes.
Eazypay offers customers the improved convenience of paying by using their mobile phone through Unified Payment Interface (UPI), any credit or debit card or Internet banking.
With the old Rs 500 and Rs 1000 currency notes set to become completely illegal post December 30, the government is likely to come up with a new ordinance in regards to the usage of the old notes.
In its bid to optimise the retirement income of the New Pension System (NPS) members, PFRDA is exploring alternative mechanisms for introducing different variants of the withdrawal options, a senior official said.