Tag Archives: demonetisation

Demonetisation Loophole Lies in Exemption of Political Funds

The loophole in the entire gamut of demonetisation is out finally and the political parties are exempted from restrictions on depositing old currency notes in their bank accounts, said Revenue Secretary Hasmukh Adhia. It means all the black money not returning to the system in the form of individual accounts may as well return in the form of funding to ...

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Now Opposition United Against Rahul Gandhi

Delhi chief minister and Aam Aadmi Party chief Arvind Kejriwal who stood behind Rahul Gandhi was taken aback when the Congress vice-president met Prime Minister Narendra Modi with his own party members bereft of any opposition member and discussed the so-called farmers’ woes and sought waiver of loan repayments. Kejriwal Tweeted immediately after the news broke out saying Rahull Gandhi ...

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Finally, Modi Meets Rahul Gandhi, Opposition Unity a Farce?

When Rahul gandhi told media that his information on personal corruption of Prime Minister Narendra Modi would trigger an earthquake, not many took it seriously but the PM himself came down finally to meet the Congress leader and his team, bereft of other opposition leaders. One thing is clear that there is more to what Rahul Gandhi said on TV ...

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Finance Minister Warns Strict Action on Cash Diversions from Banks

Finance Minister admitted that some unscrupulous people including some in the banking system have been trying to subvert the system once again and accumulating large amount of cash unlawfully. "Obviously, there is a breach of law in this and this is a step which hurts the economy. And therefore, all agencies are keeping an eye on this. They will investigate ...

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Demonetisation: Ministry Thanks Banks Which Failed People, Diverted New Notes to Black Money Holders

The Finance Ministry has appreciated the role played by the banks post-demonetisation especially when the old currency was accepted and till 24th November, 2016, when exchange of old currency to specified limit was also permitted, despite the fact that crores of new currency notes were diverted by corrupt bank officials and IT raids have made it clear that the demonetisation ...

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Cash Crunch, Future Lending Dominate Financial Inclusion Summit 2016

The two-day Inclusive Finance India Summit, formerly known as Microfinance India Summit, concluded on Tuesday with bankers and lenders vowing to stem the cash crunch that is hitting the industry across the country due to demonetisation. Two important reports by organisers Access India were released – The Inclusive Finance State of the Sector Report by Prof M S Sriram (IIM-B) ...

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Earn Honestly, Pay Taxes Honestly, says Minister

Union Minister (IC) for Power, Coal, New & Renewable Energy and Mines, Shri Piyush Goyal, addressing a gathering comprising of the trader fraternity at the Less-Cash India Summit, said the demonetisation will bring a change in the way people think and work as it makes the honest feel respected for the first time. It was an idea whose time had ...

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RBI Cracks Whip on Jan Dhan Yojana Bank Accounts, Now it Takes 2 Years to Get Back Rs.2 Lakh Deposited

As Jan Dhan Yojana accounts meant for the unbanked rural people came under the black money purview with mysterious increase of 60% after demonetisation amounting to Rs.72,834 crore worth deposits since Nov. 8. Now the Reserve Bank of India has cracked the whip limiting withdrawals in these accounts to Rs 10,000 per month. That too only fully KYC compliant holders ...

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Bharat Bandh Tomorrow Over Demonetisation: Schools May be Closed in Bangalore, BMTC, KSRTC Buses Off Roads

As opposition continued its war against the government move to demonetise Rs.500 and Rs.1000 notes by declaring a nation-wide bandh, support from Congress-ruled states and in West Bengal and Kerala, the effect is likely to be maximum. In Kerala, the ruling left front supported the move and all shutters will be down with the exception of marriages and essential supplies, ...

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JNU Alumni, BJP Minister Nirmala Sitharaman Speaks Out

Whether you are from Congress or BJP, a JNU alumni speaks out from heart and not from position once inside the red brick walls of JNU in New Delhi. So did Commerce Minister Nirmala Sitharaman on an NDTV program held inside JNU interacting with students. While a Congress supporting JNU student asked her repeated questions raising the West Bengal BJP ...

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Shaktikanta Das Lists Govt Measures on ATMs, Rural Cash, RUPAY, and More

Economic Affairs Secretary Shaktikanta Das said the government has sanctioned Rs. 21,000 crore NABARD keeping in mind the farmers and promoting digital transactions in rural areas. It entails district cooperative banks to pass on the money to primary agricultural farmers for the current Rabi season, he said. He said farmers will get credit as the rural banks, NABARD and RBI ...

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Demonetisation: Railway Ticket Online Reservation to be Rs.40 Less Until Dec.31, Other Measures at Glance

In view of ongoing cash crunch, the Railway ministry has accepted a proposal to repeal service charges on train tickets booked on its portal irctc.co.in to encourage credit or debit card payments instead of cash by people. However, the facility will be in effect until the end of December 31, 2016. Now train tickets online could save general passengers Rs.40 ...

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Declaration of Undisclosed Black Money far less than what’s declared after Demonetisation

A total number of 64,275 declarants have made declaration of undisclosed income of Rs.65,250 crore under the Income Declaration Scheme, 2016, which is far less than what’s been unearthed in the form of legal declaration as deposits at around Rs.1 lakh crore in the last 14 days. Under the Income Declaration Scheme, 2016 the amount of tax, surcharge and penalty ...

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IFFI: Cinema in 1946 Portrayed Demonetisation, Recollects Venkaiah Naidu

  M. Venkaiah Naidu, Minister of Information & Broadcasting has recalled the 1946 film titled “Vijayalakshmi” produced in 1946 on demonetisation during the British rule and praised the creativity of the film world reflecting the social concerns. Produced and directed by late B.R.Pantulu which was based on the first demonetization in India and it had brilliantly presented the negative role ...

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Demonetisation Temporary Solution to End Black Money: Prof. Yunus

As experts are cautiously making their views known about the demonetisation move of India, microfinance founder and Nobel laureate Prof. Muhammad Yunus said on Saturday that it was a temporary solution and not long lasting as expected. Unless sustainable process is put in place, the system will remain locked in for black money as ever, he told ET. “Demonetisation does ...

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