The government has no plans to re-introduce 1,000 rupee notes and is focusing to increase production of lower denomination currencies to address cash shortage, Economic Affairs Secretary Shaktikanta Das said today.
Reliance Jio made yet another big announcement on Tuesday with the launch of the new Jio Prime subscription plan. In a move that is set to rattle Jio rivals like Idea, Airtel, and Vodafone, the new Prime plan continues the unlimited free services that Reliance Jio has offered since launch at a nominal price.
Bengaluru: India is probably one of the places in the world where the entrepreneurial energy is able to scale up, not just start, Microsoft's India-born CEO Satya Nadella said on Monday.
Tata Consultancy Services Ltd (TCS) today announced Rs 16,000 crore share buyback- biggest in the Indian capital market, looking to return surplus cash to shareholders.
The Supreme Court on Monday attached Sahara group's Aamby Valley property in Pune for the recovery of Rs 14,799 crore that the group's two companies involved in real estate have to pay investors. The property is worth Rs 39,000 crore.
Noida: Hard to believe but a 26-year-old BTech graduate has tricked more than 6 lakh people into giving him their money through a Ponzi scheme that promised big returns for hitting 'likes' online. In about a year, Anubhav Mittal's Social Trade committed fraud of a whopping Rs 3,700 crore.
Beleaguered liquor baron Vijay Mallya has lashed out at BJP-led NDA and Congress-led UPA, saying, he is a 'football' and the two 'fiercely competitive' political entities have been playing against each other using 'media' as the 'pitch.'
Finance Minister Arun Jaitley on Wednesday announced the Union Budget 2017. In a big step, the Finance Minister announced the reduction of the existing rate of taxation for individuals with income ranging between Rs 2.5 lakh to Rs 5 lakh to 5% instead of 10%.
The government is reportedly planning to bring down the threshold of cash transactions to Rs 30,000 from Rs 50,000 currently which would require quoting PAN card details.
Reserve Bank of India (RBI) Governor Urjit Patel will appears before the Parliament's standing committee on finance on Wednesday where he will face questions on demonetisation and its aftermath.
Apple will decrease its iPhone production in the first financial quarter of 2017, a new report has suggested. The decision could have been the result of lukewarm iPhone 7 and iPhone 7 plus sales last quarter.
50 days since demonetisation came into effect got over on Friday, December 30th, and in order to alleviate the suffering of people a little bit, Modi government has decided to increase the ATM withdrawal limit.
Tata Steel on Thursday said its independent director Nusli Wadia has been removed from the company's board, with 90.8 per cent of shareholders present at Wednesday's EGM voting in favour of his ouster.
In a sharp U-turn, the Reserve Bank of India has withdrawn the restrictions imposed on bank deposits exceeding Rs 5000 in old notes. In a circular issued to banks on Wednesday, the RBI said it was revoking the restrictions after reviewing the case.
Finance minister Arun Jaitley on Tuesday said the government's decision to tweak the presumptive income norms would reduce the tax liability by up to 30 per cent for those small traders opting for digital transactions.
The Reserve Bank of India (RBI) Monday announced fresh restrictions on bank deposits till December 30. For amounts exceeding Rs 5000 in old Rs 500 and Rs 1000 notes, they can now be deposited only once per bank account.
The government today said any unaccounted cash or deposit in a bank account before April 1, 2017, can be disclosed under a new disclosure scheme that comes with 50 per cent tax and penalty.
The Supreme Court on Friday refused to pass any interim order extending exemptions permitting the use of scrapped currency notes for essential services, even medical, and left it to the Centre to take the call.
Offering a window to black money holders, the Modi government on Monday proposed to levy a total tax, penalty and surcharge of 50 per cent on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85 per cent await those who don't disclose but are caught.
The Union Cabinet late on Thursday cleared a proposal to amend the Income Tax (I-T) Act to levy close to 60% deduction on unaccounted deposits in banks above a threshold, reports say.
There is some relief for those frustrated by long queues outside banks and ATMs as from today you can drive into a petrol pump to draw cash. Just swipe your debit card at petrol stations run by state-run oil companies...
Ruling BJP legislator Bhawani Singh Rajawat has caused quite a controversy by criticising the Narendra Modi government's decision to ban Rs 500 and Rs 1,000 notes and alleging that industrialists Gautam Adani and the Ambanis had prior information of the demonetisation decision and all this has been caught on camera.
While long queues continue to form outside banks and ATMs the government today announced another set of measures to ease the huge cash crunch after the sudden currency ban last week. Farmers and families organizing weddings have got some reprieve in the latest announcement.
The Supreme Court on Tuesday refused to stay the demonetiosation of Rs 500 and 100 currency notes by Narendra Modi government announced on the night of November 8 purportedly to curb the menace of black money.
Economic Affairs Secretary Shaktikanta Das, in a press meet on Tuesday, made a few announcements to deal with the crisis of cash crunch. Das said from today indelible ink would be used at banks to ensure people don't go for multiple withdrawals.
As banks opened on Tuesday after remaining closed on Monday on account of Guru Nanak Jayanti, people in large numbers started queuing up outside them as well as outside ATMs to withdraw valid currency notes from vending machines and exchange demonetised bills.
Amidst reports of people facing hardships all over the country, in trying to convert their currency at banks and in withdrawals at ATMs, Finance Minister Arun Jaitley said around Rs 2 lakh crore has been deposited till 12.15 pm on Saturday in banks across the country, following demonetisation of Rs 500 and Rs 1,000 notes.
Making their next move against Cyrus Mistry, the Tatas have removed him as chairman of group company Tata Consultancy Services or TCS. They have also sought a special meeting of the board of another group company, Indian Hotels, to remove Mistry as its director.
Markets showed a recovery after latest election results indicate that Hillary Clinton has narrowed the gap with Donald Trump in the race for the presidency.
With the aim of curbing the menace of black money and fake currency, Prime Minister Narendra Modi has announced the decision to ban existing 500- and 1000-rupee notes from midnight today.