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Remonetisation News

Goods and Services Tax

09 Oct 2017

DBS sees more policy fine-tuning from govt in weeks ahead

The index of industrial production for August -- due this week -- is poised to extend gains from July's 1.2 percent, said DBS in its daily economic report on Monday.

India's GDP Growth

30 May 2017

'Recovery in growth ahead; policy rates to be on hold in June'

According to Japanese financial services major Nomura, demonetisation effect is expected to slow GDP growth to 7.2 percent in the January-March quarter of this year (from a revised 7.6 percent in October-December 2016).

India's GDP Growth

29 May 2017

FY17 GDP growth likely to be revised to 7.6%: SBI Research

India's GDP numbers for the fiscal 2015-16 and 2016-17 are expected to be revised to 8.3 percent and 7.6 percent, respectively, because of new IIP and GDP series, says a report.

25 May 2017

Icra expects gradual pick up in GDP growth in Q4FY17 to 7.1%

Domestic ratings agency Icra on Thursday said it expects GDP growth to rise marginally to 7.1 percent for the fourth quarter on a gradual remonetisation, up from the preceding quarter's 7 percent.

08 May 2017

Remonetisation to expand tax base, says FM Jaitley

Finance Minister Arun Jaitley on Monday said remonetisation, following the world's largest note ban, has been substantially completed and the move will result in expansion of the tax base in the country.

T M Thomas Isaac

02 May 2017

Remonetisation has not solved currency shortage: Kerala FM T M Thomas Isaac

Kerala government today said the remonetisation process of the Centre has not resolved the currency shortage felt in the state and demanded that the union government correct its policy.

13 Apr 2017

India's GDP growth may slip to 6.7% in March quarter: Nomura

India's GDP growth is likely to decelerate to 6.7 percent in March quarter but it will gradually recover to around 7.7 percent in 2018 supported by higher consumption and public spending, says a report.

06 Apr 2017

Accelerated remonetisation to spur consumer spending: RBI

The Reserve Bank today said accelerated pace of remonetisation will spur consumer spending over the next several quarters pushing growth.

Non-banking finance companies

09 Mar 2017

NBFC cash loan against gold restricted to Rs 25,000

Non-Banking Finance Companies (NBFCs) cannot lend more than Rs 25,000 in cash against gold, the Reserve Bank said Thursday.

06 Mar 2017

Demonetisation impact on GDP may be seen this quarter; remonetisation should be completed in 2-3 months: RBI

Demonetisation impact on GDP may be seen in the current quarter in some segments, while the remonetisation excersise should be completed in 2-3 months, RBI Deputy Governor Viral V Acharya said on Monday.

01 Mar 2017

Possession of more than 10 junked Rs 500 and Rs 1,000 notes will now attract fine

Holding of more than 10 notes of the junked Rs 500 and Rs 1,000 currency is now illegal, with a new law coming into effect after the President's assent.

Saving bank cash limit

20 Feb 2017

Cash withdrawal limit for savings accounts increased to Rs 50,000 from Rs 24,000 per week

The remonetisation excercise is taking place fast as part of government's plan subsequent to the withdrawal of the specified bank notes of Rs 5,00 and Rs 1,000 from circulation on Novemenr 8, 2016.

17 Feb 2017

It's important one grows a thick skin fast, says RBI Guv Urjit Patel

Unfazed by criticism of the way the note ban was handled, RBI Governor Urjit Patel on Friday said the central bank has grown a thick skin fast doing its job and stressed that the economy will make a "sharp V" recovery after a short drop.

17 Feb 2017

Cash position in economy may not be enough till March: Nomura

The impact of demonetisation is still visible and cash levels in the economy are not expected to be sufficient until March, which may keep trade volumes depressed for the next two months, says a Nomura report.

17 Feb 2017

Remonetisation: There is no shortage of currency, says FM Jaitley

There is no currency shortage in the country as printing presses of RBI, SPMCIL have ensured normalcy within a few weeks of demonetisation, Finance Minister Arun Jaitley said on Friday.

16 Feb 2017

Remonetisation: RBI closely monitoring cash position on a daily basis, says FM Jaitley

Finance Minister Arun Jaitley on Thursday said that situation is normal as far as remonetisation is concerned.

03 Feb 2017

RBI to soon take call on lifting weekly withdrawal limit from savings A/c

Shaktikanta Das has said that the remonetisation exercise is nearly complete.

01 Feb 2017

No limits on cash withdrawals through ATMs, current a/cs from today

In a big relief to people and small businesses, RBI has announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts from Wednesday but the weekly limit of Rs 24,000 on savings bank accounts will continue.

01 Feb 2017

Economic Survey 2017: Remonetisation to revive economic growth, says CEA

Confident of economic recovery post demonetisation, Chief Economic Adviser Arvind Subramanian on Tuesday said remonetisation will be completed in a month or two and growth will pick up once the process is over.

30 Jan 2017

No ATM withdrawal limit from February 1, cap on savings accounts to continue

In a big relief to people and small businesses, RBI on Monday announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts but the weekly limit of Rs 24,000 on savings bank accounts will continue.

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