Following the government's warning that action would be taken against those using their Jan Dhan accounts to convert black money into white, deposits into such accounts have reportedly decelerated.
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The Indian government's decision to delegalise high denomination currency notes may hurt growth in short-term, but in the medium- to long-term it will have positive macroeconomic implications, former RBI Governor D Subbarao has said.
In a bid to speed up small value online transactions, the RBI today relaxed norms for additional factor of authentication (AFA) for payments up to Rs 2,000.
Following the demonetisation move and the cash crunch that follow, the government has encourage the public to go cashless, a move that will even prevent corruption.
As banks continue to be flushed with deposits thanks to demonetisation move of the Modi government, state-owned Bank of Baroda has cut benchmark lending rates by 0.2 percent.
The RBI is all set to issue new Rs 100 banknotes in the Mahatma Gandhi Series-2005 without inset letter in both the numbering panels, bearing the signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India.
Following the demonetisation move, over Rs 130 crore in cash and jewellery has been siezed while taxpayers have admitted Rs 2,000 crore undisclosed income, the Central Board of Direct Taxes (CBDT) informed on Tuesday.
Three Indian men have been accused of stealing 1 million dirhams by hacking into a Dubai businessman's mobile banking application after obtaining a duplicate SIM card using forged papers.
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Government is considering a proposal to hike wage ceiling for coverage under social security schemes run by the retirement fund body EPFO to Rs 25,000 per month from the existing Rs 15,000, Parliament was informed on Monday.
Old currency notes printed before the year 2005 can be be deposited in banks and exchanged at RBI offices. Post demonetisation, some banks were reportedly refusing to accept these currency notes creating confusing among common public.
Even those handling wads of notes on a daily basis are a harried lot. The reference is to bank employees. The struggle to manage the cash requirement of common public has raised their stress level. They would like the Reserve Bank of India( RBI)to close bank branches until sufficient quantities of currency notes supplies reach banks.
With the usage of micro-ATMs and POS counters witnessing a sharp surge post demonetisation, the country's premier cyber security agency CERT-In has cautioned customers, bankers and traders against skimming and malware attacks on these systems and asked them to adopt high-end encryption to plug possible breaches.
The figure of black money disclosed under Income Declaration Scheme (IDS) was revised to Rs 67,382 crore by the Finance Ministry on Sunday. This is Rs 2,000 crore highe than the earlier number.
The Reserve Bank of India will shortly issue Rs 20 and Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, bearing signature of Urjit R Patel, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote, RBI said in a statement on Sunday.
Central government employees were not satisfied with the 2 percent Dearness Allowance(DA) announced by the government for July to December 2016 period. A discussion among the employees has begun what could be the expected DA in January 2017.
Undisclosed amount of approximately Rs 1.64 crore have been deposited by people who never filed income returns into Jandhan accounts in Kolkata, Bihar, Kochi and Varanasi.
Check out the picture of the new Rs 1,000 currency note.
The government on Thursday decided to discontinue use of demonetised currencies for purchase of fuel and airline tickets at airport counters.