Free Press Journal
  • Scramble to exchange money as March 31 deadline nears

    New Delhi: The queues at the designated RBI offices seem to be spilling over as the deadline for exchange of invalid notes by residents who were abroad during the cash ban window draws to a close on Friday.

  • PTI Photo by Mitesh Bhuvad

    Cash flow will be normal soon: Urjit Patel

    New Delhi: Reserve Bank of India (RBI) Governor Urjit Patel on Friday is learnt to have told a parliamentary committee that cash flow post demonetisation will normalise soon but might take longer in rural and remote areas.

  • Notes ban: ED arrests Surat-based Kishore Bhajiawala under PMLA

    Surat: The ED today said it has arrested city-based financer Kishore Bhajiawala on money laundering charges and for allegedly using 1,000 fake IDs to illegally convert Rs 1 crore in old notes into new post demonetisation.

  • The government gets richer, while people become poorer

    Conclusion: The finance minister is exultant. He proudly points to the surge in tax collections. He then uses these numbers to deny that demonetisation has led to any serious slowdown in the Indian economy. His government insists that the economy was still vibrant.

  • PTI Photo by Mitesh Bhuvad

    Par panel meet begins, RBI Governor to brief on demonetisation

    New Delhi, A crucial meeting of Parliament’s standing committee on finance over the demonetisation issue began here this morning with Reserve Bank of India Governor Urjit Patel expected to brief it on the matter.

  • IMF cuts India’s growth forecast due to demonetisation

    Washington, The IMF on Monday cut India’s growth forecast for the current fiscal by as much as one percentage point due mainly to the disruptions caused by demonetisation of 500 and 1,000 rupee notes.

  • Post Demonestisation: RBI raises ATM withdrawal limit to Rs 10,000

    Mumbai : With the improvement in cash situation, the Reserve Bank on Monday more than doubled the daily ATM withdrawal limit to Rs 10,000 but retained the weekly ceiling at Rs 24,000 which bankers feel will be gradually relaxed. RBI also doubled the weekly withdrawal limit from current accounts to Rs 1 lakh from Rs 50,000 – a move which will ease cash position of traders.

  • Man gets Rs 500 notes with one-side blank in MP

    Khargone: Days after a farmer in Madhya Pradesh received Rs 2,000 notes from a bank without the image of Mahatma Gandhi, an ATM at a village in Khargone district dispensed two ‘one-side blank’ currency of the new Rs 500 denomination.

  • 3-4 lakh cr of black money placed in banks post demonetisation

    New Delhi : As it analyses bank deposits post-demonetisation, the government has found that an estimated Rs 3-4 lakh crore of tax-evaded income could have been deposited during 50-day window provided to get rid of junked Rs 500/1000 notes.

  • Demonetisation: NCP hits the streets against notebandi

    Nashik : The Nationalist Congress Party (NCP) on Monday staged road blockades at all tehsil towns in Nashik district to highlight the falling prices of agriculture produce and immediate measures to alleviate the effects of demonetisation on common people and farmers.

  • No slowdown after note ban, asserts FM Arun Jaitley

    New Delhi : Dismissing slowdown concerns post demonetisation as “anecdotal”, Finance Minister Arun Jaitley on Monday said indirect tax collection grew at a decent 14.2 per cent in December buoyed mainly by excise, reflecting an uptick in manufacturing.

  • Demonetisation flops: What next?

    Modi is confronted by a lacklustre opposition that cannot even derive political advantage from the monumental note ban failure. It is for this reason that the polls in different parts of the country show that the BJP’s fortunes have not been impacted by the demonetisation woes.

  • Post demonetisation, money has lost anonymity: Arun Jaitley

    New Delhi: Describing the currency deposited with banks following demonetisation as money that has lost its earlier “anonymity”, Union Finance Minister Arun Jaitley on Sunday said such deposits do not automatically become legitimate, and can now be identified with the owner for taxation purposes.

  • Demonetisation impact: SBI Research pegs FY17 GDP down to 6.7%

    Mumbai : Even as the Central Statistics Office (CSO) today revised downwards the GDP growth estimate for the current financial year to 7.1 per cent, SBI Research pegged it further down at 6.7 per cent, citing the note-ban impact on consumption and therefore production.

  • Quash ordinance on depositing old notes, says PIL filed in Bombay HC

    Mumbai : A Public Interest Litigation (PIL) has been filed in the Bombay High Court, challenging the ordinance passed by the Union government, barring the general public from depositing their demonetised notes of Rs 500 and Rs 1000 in the branch offices of Reserve Bank of India.