Economy News, Policy, Lending Rates, GDP and Taxes

People queue up with old banknotes outside an SBI branch in NewDelhi on Monday. Photo: Sushil Kumar Verma

Rs. 35,000 cr. to ease rural cash crunch

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Rs. 35,000 cr. to ease rural cash crunch Manojit Saha Vikas Vasudeva Centre relaxes curbs, allows farmers to buy seeds with old Rs. 500 notes.

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Economy

Demonetisation won’t have lasting benefits: Larry Summers

Internet Desk “Most sweeping change in currency policy that has occurred anywhere in the world in decades,” he says.

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Business

Give tax breaks for digital payments, says Niti Aayog

Monu Rajan Niti Aayog has proposed giving tax breaks to consumers and merchants for debit or credit card payments. The government think-tank has also suggested levying surcharge for cash transactions beyond a set limit to encourage electronic transactions.At a recent meeting with Prime Minister Narendra Modi, Niti Aayog Chief Executive Officer Amitabh Kant pitched for encouraging e-payments for driving online commerce as well as bringing in greater transparency and higher tax collection for the governmen

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Economy

RBI sets stiff riders for Rs. 2.5 lakh withdrawal for weddings

PTI The amount can be withdrawn only if the date of marriage is on or before December 30, 2016.

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Other Articles

Demonetisation Economy Borrowers get additional 60 days to repay loans, says RBI

Economy Banks get scrapped notes worth Rs. 5.44 lakh crore

Business Mounting NPAs nix dividends in 16 of 22 public sector banks

Business Demonetisation hits buffalo meat exporters

'Financial inclusion has received a boost' Demonetisation has turned out to be positive for financial inclusion, according to Axis Bank MD & CEO, Shikha Sharma. In a conversation, she elabo

Designer clothes to watches, luxury goods feel cash pinch : For the fashion and luxury goods segment in India, the massive cash crunch triggered by the government’s decision to demonetise high denomination cu

‘Panic following withdrawal of notes has largely faded’ PNB CMD Ananthasubramanian says Rs.500 notes will further ease situation

Did an RBI circular on the Rs.100 note portend the demonetisation? Was a November 2 notification from the Reserve Bank of India (RBI) a harbinger of the demonetisation that followed within a week? With the benefit of

Demonetisation good in the long run: Cummins While the government’s move to demonetise old Rs.500 and Rs.1000 notes may negatively impact businesses in the short-term, Cummins Inc has said it di

‘About 47,000 ATMs have been recalibrated’ About 25 per cent of the country’s automated teller machines (ATMs), or 47,000, have been recalibrated since the exercise began last Wednesday, to en

HSIL eyes 10 per cent sales from consumer business HSIL (formerly Hindustan Sanitaryware and Industries) expects its consumer products division, which includes air purifiers and water heaters, to accou

Carlson Rezidor to expand to State capitals Carlson Rezidor Hotel Group with brands such as Radisson Blu, Radisson, Radisson Red, Park Plaza, Park Inn and Country Inns & Suits, said it woul

Double whammy: Banks’ customers to earn less on FDs Bank customers, who have been struggling to access funds from savings accounts in the wake of the demonetisation, now face the prospect of earning le

Centre, RBI in firefighting mode PMO takes stock, assures banks of more currency notes to tide over cash shortage

Mistry-Tata may face off at Tata Sons board meet Tata Sons, the holding company of the $103 billion salt-to-software conglomerate, has convened a meeting of the board of directors on Thursday, the fi

E-commerce firms see 30% decline in cash on delivery orders post demonetisation However, they believe that demonetisation and the push for digital payments will boost the sector in the long run.