• No reply to I-T query could get a 'non-statutory' letter

    The I-T department is "verifying" over Rs 4.5 lakh crore of suspicious deposits made by 18 lakh people post note ban and will send ‘non-statutory’ letters to those who have not responded to its SMS and e-mail queries seeking explanation

  • Rs 65 lakh in old notes seized from south Mumbai jeweller

    He was nabbed by crime branch officials posing as money exchangers

  • Amartya Sen, Shourie slam govt on demonetisation

    The note ban is an unguided 'missile' fired 'unilaterally' without adhering to democratic norms, Nobel laureate Amartya Sen said during a talk in the city on Saturday, severely criticising the NDA government which was also targeted by former Union Minister and eminent journalist Arun Shourie who said the stick is being wielded here when black money is lying in foreign shores

  • Note ban has caused Rs 20,000-50,000 per acre loss to farmers

    India's cash-driven agri sector continues to reel under the effects of demonetisation, with farmers growing fruits and vegetables suffering 'huge losses', say farm leaders who want the Union budget to 'compensate' them for these losses

  • Notes ban stopped fake currency flow: Kiren Rijiju

    Terming demonetisation as a revolutionary step taken by Prime Minister Narendra Modi to curb black money and crackdown on terror activities, Union Minister Kiren Rijiju yesterday claimed printing of fake currency across the border stopped abruptly post November 8

  • Video: Vadodara school teaches deaf and dumb students to go cashless

    A school in Vadodara is teaching their deaf and dumb students to go cashless. A seminar was recently held, in which special classes were taken for these children to teach them about using the cashless system

  • Banks told to report deposits over Rs 10 lakh a year

    In yet another measure related to the recent demonetisation, the government has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more on credit card bills

  • Note ban a 'nuclear bomb' strike on country: Shiv Sena targets Narendra Modi

    In a vitriolic attack on Prime Minister Narendra Modi over demonetisation, the Shiv Sena said he had dropped a "nuclear bomb" on the country through the decision and turned the economy into "Hiroshima- Nagasaki", the Japanese cities devastated by the US during the World War II

  • Indian consumers most optimist in region despite note-ban

    Indian consumers remain the most optimistic in the Asia-Pacific region and their outlook on economy and stock market showed highest levels of confidence even after their government's recent demonetisation measure, a report said on Monday.

  • RBI's own figures indicate return of 15 lakh crore of banned notes

    Despite the Reserve Bank of India dismissing reports that suggested 97 per cent of the demonetised currency had returned to the bank's coffers by December 30, its own weekly figures on "currency in circulation" indicate that this number is correct.

  • BMC bans Sunburn organisers from holding events in Mumbai

    Taking note of non-payment of charges for a concert in the city that caused it revenue loss, the Brihanmumbai Municipal Corporation (BMC) has banned Percept Live, the live entertainment division of Percept Limited, from holding any events in its jurisdiction

  • 'RBI board recommended note ban after govt advice'

    Contrary to popular belief, it was the government which had “advised” the Reserve Bank to junk Rs 500/1000 notes on November 7 and the board of the central bank the very next day recommended the demonetisation

  • Note ban may slow down economy in short run: President Pranab Mukherjee

    Demonetisation may lead to a temporary slowdown in the economy, President Pranab Mukherjee said on Thursday. "Demonetisation, while immobilising black money and fighting corruption, may lead to temporary slowdown of the economy," he said

  • Cash crunch to affect salary withdrawal, says Kerala minister

    With the Reserve Bank of India (RBI) indicating that there is going to be a shortage of currency notes, Kerala Finance Minister Thomas Issac on Friday said the withdrawal of December salaries could be a problem

  • Demonetisation: Last day to deposit scrapped notes

    The deadline to deposit old Rs 500 and Rs 1,000 notes in banks ends on Friday. From next week onward, those still holding the scrapped currency can deposit it only with the Reserve Bank of India till March 31, 2017

  • Banned Indian notes with special numbers could fetch a fortune, Indian expats told

    Amid the rush among Indian expatriates scurrying home to exchange the demonetised Rs 500 and Rs 1,000 notes before the December 30 deadline, a Dubai-based numismatist who hails from India, has advised his compatriots to "hold onto their old currency notes"

  • Demonetised currency haul: ED arrests Delhi lawyer Rohit Tandon

    The ED arrested controversial lawyer Rohit Tandon here in connection with a money laundering probe in a case of seizure of Rs 13.6 crore after police raided a law firm premises as part of an anti-black money operation post demonetisation

  • Note ban won't affect BJP's chances in Maharashtra civic polls: Party MP Chintaman Wanga

    BJP MP Chintaman Wanga has said that the Centre's demonetisation move will not have an adverse effect on the party's prospects in the forthcoming civic elections in Maharashtra

  • Narendra Modi promises more reforms, says note ban short-term pain

    Prime Minister Narendra Modi today hinted at unleashing more radical reforms, saying his government will not shy away from taking difficult decisions that are in national interest and admitted the note ban caused "short-term pain"

  • Notes ban: I-T detects Rs 3,590 crore undisclosed income

    Income Tax department has detected over Rs 3,590 crore of un-disclosed income while more than Rs 93 crore in new notes have been seized as part of its country-wide operations against black money hoarders post the demonetisation of two high value currencies by the government