The Reserve Bank of India has asked all banks to send details of fake notes detected during exchange and deposits and also main records of new bank notes in view of seizures by Income Tax Department.
While there is no denying that the government is making all efforts to fight black money and corruption through demonetisation and make India a cashless economy, one must also accept the fact that the move has been misused by many.
To tap opportunities arising out of limited cash supply following demonetisation, SBI Cards will soon launch credit cards aimed at the lower income group who have the capacity to pay but don't have cards, besides quickening card delivery period to 2-3 days.
It may sound relief to all those tax dodgers who lost the opportunity offered by Income Disclosure Scheme that allowed black money hoarders to turn their black money white by paying tax on it.
The government is soon going to make it compulsory to make salary payments to industrial workers only in cheque or direct bank transfers..
In order to nab culprit bank officials who connived with black money hoarders and help them in converting their black money into white, Finance Ministry has conducted sting operations in around 500 bank branches to expose corrupt bank employees.
The government on Sunday asked state-run banks to maintain records of deposits made in denomination of Rs 500 and Rs 1000 and other valid currencies.
After a TV channel and a website to promote digital payments, a nationwide toll-free helpline number '14444' will be launched soon to educate people and provide support related to cashless mode of transactions.
In wake of shortage of change after centre's demonetisation move, Delhi Metro has decided to temporarily hike the ceiling of smart card recharge from Rs 1,000 to Rs 2,000 from Sunday onwards.
The Finance Ministry has sent a strong message to banks, saying that no official will be spared if found involved in wrongdoing.
It was informed in Parliament on Friday that around 85 percent of ATMs in the country have been recaliberated by November 30 for the new currency notes.
Plastic currency notes will soon become a reality in India. The Parliament was informed on Friday that procurement process for required material has already begun.
I-T department discovered 15 fake accounts and found over Rs 450 crores.
The upcoming bank holidays for three consecutive days could further add to the woes of people amidst existing cash crunch situation in the country.
Fraudsters have found one more ploy for cheating people and are using demonetisation as an opportunity and attempting to extract confidential information like bank details from common public.
Even as banks and ATMs across the country continue to remain dry and millions are cashless, one will believe how much cash the Reserve Bank of India has issued post demonetisation – a huge Rs 4.27 lakh crore.
In what could be a major boost for gender equality and mothers in particular, Finance Minister Arun Jaitley is likely hike allocation for the Ministry of Women and Child Development by 20 percent with an emphasis on universalising the maternity benefit scheme.
In a bid to promote cashless economy in the wake of demonetisation move, Finance Minister Arun Jaitley on Thursday announced discount on array of services.
Central Government has decided on a package of incentives and measures for promotion of digital and cashless economy in the country.
The government has cut short the deadline of using old Rs 500 notes at railways, bus and metros. After December 10, old Rs 500 will not be accepted.