Page 41 - Demonetisation

Banks to report cash payment of Rs 1 lakh on credit card bills to I-T Dept

CBDT listed cash transactions that need to be reported to tax authorities and set up an e-platform

I-T dept writes to RBI; says co-op banks' cash records tampered with

The Income Tax Department has written to the RBI informing it about alleged illegal malpractices being deployed by a number of cooperative banks after its probe found "serious" difference in accounts, to the tune of multi-crore rupees, in the aftermath of the notes ban. In an analysis report prepared by the department, also accessed by PTI, two specific instances in Mumbai and Pune have been reported where it was found that over Rs 113 crore "excess amount" of old demonetised notes was reported by two banks to the banking regulator in order to generate black funds. "In the Pune bank case, the reported amount (to the RBI) was Rs 242 crore while physical stock was of Rs 141 crore, showing clearly that the cooperative bank had reported to the RBI excess Specified Bank Notes (old currency) as on December 23, 2016 to the tune of Rs 101.07 crore. In the case of a similar bank in Mumbai, the excess amount of such notes was Rs 11.89 crore," it said. The department had conducted surveys o

New notes worth Rs 9.2 lakh cr issued, note ban talks begin last Jan

He told the panel that talks with govt on demonetisation began early last year

I-T dept raids 64 premises of jewellers across Maharashtra

Surveys were conducted on 54 entities covering 64 premises in 16 cities across the state

Manmohan Singh to the rescue: How he saved Urjit Patel from House Panel

Patel could not give a definite number of old notes returned as RBI was still tabulating those

Note ban: Currency in circulation shows rise after 9 weeks of fall

This may temper the surge in payments made through digital banking

RBI replaces 60% of banned currency: Rs 9.2 lakh cr remonetised till date

Parliamentary panel members say governor was silent on the amount that has come back

Too many vegetables, too little money: Prices crash after note ban

Tomato farmers in Karnataka and Tamil Nadu were the worst hit since prices fell by 60-85%

In first address, Patel asks staff to guard RBI reputation

A few senior RBI employees were held for money laundering and illegal exchange of banned notes

'Full demonetised amount to take time'

It is a difficult process as there are rooms filled with extinguished notes, said an RBI official

India's 'dynamic economy' to grow at 7.7%: UN

It expects a slight pick-up in investment demand supported by monetary easing

Economy isn't a trained monkey to jump if you lower rates: Aswath Damodaran

New York University professor on why note ban may not destabilise the economy as some experts expect

Parliament panel meet begins, Urjit Patel to brief on demonetisation

Former PM Manmohan Singh is one of the members of Parliament's standing committee on finance

DDA's new housing scheme likely to be launched in February

The scheme was earlier expected to be launched around January 26

Shiv Sena likens demonetisation to atom bomb attack on Hiroshima, Nagasaki

The party accused Modi of not listening to the RBI also

Parliament panel to grill RBI governor Urjit Patel over note ban today

Standing committee on finance to also focus on RBI autonomy and citizen's rights

RBI Guv to brief par panel on demonetisation on Wednesday

Meeting will discuss the demonetisation of Indian currency notes and its impact

Note ban to benefit jewellery sector in long run: Jewellery Industry

This move is encouraging people to use plastic money, says GJF Chairman Nitin Khandelwal

Punjab: Decline in earnings doesn't translate into anti-note ban sentiment

Most people supported the aim of fighting black money but believe that the rich got away

Used car sales dip 42% in Nov post note ban, recover in Dec

Cash crunch induced by demonetisation has led to consumers postponing their decision to buy