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SBI cuts FD rates on select maturities by 0.15% SBI cuts FD rates on select maturities by 0.15%

Flush with cash due to the demonetisation exercise of the government, State Bank of India (SBI) today slashed fixed deposit rates on select maturities by up to 0.15 percent.

Demonetisation: Half of ATMs to be recalibrated by next week to dispense the new Rs 500 and Rs 2,000 notes Demonetisation: Half of ATMs to be recalibrated by next week to dispense the new Rs 500 and Rs 2,000 notes

Currently, the ATM withdrawal limit from savings bank accounts stands at Rs 2,500 a day, but most ATMs are dispensing only Rs 2,000 notes or Rs 100.

Government to demonetise Rs 100/50 notes too? Know the truth! Government to demonetise Rs 100/50 notes too? Know the truth!

Seeking to dispel rumours making the rounds, the government Wednesday said there is no intention to demonetise Rs 100 and Rs 50 notes.

PAN must for cash deposits exceeding Rs 50,000: RBI to banks PAN must for cash deposits exceeding Rs 50,000: RBI to banks

RBI Wednesday asked banks to ensure customers submit a copy of PAN card for any cash deposit exceeding Rs 50,000, if it is not already seeded with the account, to ensure tax rule compliance in the wake of the recent decision to abolish Rs 500 and Rs 1,000 notes.

Axis Bank cuts cost of lending rate by 0.15-0.20% from Friday Axis Bank cuts cost of lending rate by 0.15-0.20% from Friday

Private sector Axis Bank on Wednesday announced a cut in its marginal cost of fund-based lending rate (MCLR) by 0.15-0.20 percent effective coming Friday.

Demonetisation: Home Ministry reviewing situation every 2 hours Demonetisation: Home Ministry reviewing situation every 2 hours

With demonetisation of Rs 1,000 and Rs 500 notes creating a cash crunch, the Home Ministry is reviewing the situation across the country every two hours and has advised the states to take all precautions.

Depositing cash over Rs 2.5 lakh? Banks, Post Offices will report it to Income Tax Depositing cash over Rs 2.5 lakh? Banks, Post Offices will report it to Income Tax

The government has asked banks and post offices to report to the I-T Department all deposits above Rs 2.50 lakh in savings accounts, and more than Rs 12.50 lakh in current accounts, made during the 50-day window provided to tender the scrapped 500 and 1000 rupee notes.

Abolish income tax - proposes team that advised Modi government to demonetise Abolish income tax - proposes team that advised Modi government to demonetise

The Modi government could be thinking about abolishing the Income Tax completely and replacing them with flat tax on banking transaction only.

Demonetisation: No need to submit photocopy of I-cards for exchanging old currency notes Demonetisation: No need to submit photocopy of I-cards for exchanging old currency notes

The customers are only required to be present at the bank and show valid proof – photocopies are not required.

Demonetisation: Banks start using indelible ink to check repeat money exchange Demonetisation: Banks start using indelible ink to check repeat money exchange

The move, which comes a week after PM Modi`s surprise decision to invalidate 500 and 1,000 rupee notes, is also aimed at preventing large queues at banks and stop people from exchanging more than the permissible limit of money.

EPF accounts: Now earn interest on inoperative A/Cs EPF accounts: Now earn interest on inoperative A/Cs

The government has relaxed the "inoperative" accounts wherein it paves the way for  retirement fund body EPFO to pay interest for such accounts.

From Wednesday, banks to use indelible ink to check repeat money exchangers From Wednesday, banks to use indelible ink to check repeat money exchangers

The move, which comes a week after PM Modi`s surprise decision to invalidate 500 and 1,000 rupee notes, is also aimed at preventing large queues at banks and stop people from exchanging more than the permissible limit of money.

Searching for ATMs with cash? This website help you locate one! Searching for ATMs with cash? This website help you locate one!

www.cashnocash.com updates real time statistics based on the users' feedback and lets you know which ATM has cash, which has long queues and which has gone cash-dry.

Union Budget preponed by a month, to be presented on February 1 Union Budget preponed by a month, to be presented on February 1

The Union Budget for the financial year 2017-18 has been preponed by a month and will be presented on February 1.

Govt to use indelible ink to crack down repeated exchanges at banks, not ATMs withdrawal Govt to use indelible ink to crack down repeated exchanges at banks, not ATMs withdrawal

Government has taken some more practical measures to manage the rush at banks, and plans to use indelible ink marks as used in election voting, to crack down on cheats and others being used for carrying out  multiple exchanges.

'SBI to dispense more 20, 50 rupee notes to help public' 'SBI to dispense more 20, 50 rupee notes to help public'

Maintaining that the state of panic among people is on the decline following the constant flow of cash at banks and ATMs, State Bank of India (SBI) chairperson Arundhati Bhattacharya said the bank will soon start dispensing Rs.50 and Rs.20 currency notes to further help the public.

Queues outside banks, ATMs may get longer today Queues outside banks, ATMs may get longer today

The rush outside ATMs and banks may get heavier on Tuesday as the cash points reopen after Monday's bank holiday for Guru Nanak Jayanthi across 18 states. 

82% Indians favour demonetisation, says a survey; do you?

As many as 82 percent Indians favour the government`s decision to demonetise Rs 500 and Rs 1,000 denomination currency notes, a survey has said.

Demonetisation: SBI gets deposits of Rs 83,702 crore in five days Demonetisation: SBI gets deposits of Rs 83,702 crore in five days

State Bank of India Monday said it has collected Rs 83,702 crore in deposits in the last five days following the government's decision to demonetise the old Rs 500 and Rs 1,000 notes.