Demonetization Effects

Timelines
Amid economic slowdown, Anurag Thakur faces embarrassment at auto event

06 Sep 2019

Amid economic slowdown, Anurag Thakur faces embarrassment at auto event

On Friday, Minister of State for Finance Anurag Thakur addressed the slowdown in the auto industry at the Automotive Component Manufacturers Association of India (ACMA) annual summit in New Delhi.

May need more currency as GDP size increasing: RBI official

17 Jan 2019

May need more currency as GDP size increasing: RBI official

With the country's Gross Domestic Product (GDP) size increasing in quantitative terms, there could be a need for more currency in the economy, a Reserve Bank of India official said today.

#Demonetization: Who benefited? India or the Modi government?

08 Nov 2018

#Demonetization: Who benefited? India or the Modi government?

Two years have passed since Prime Minister Narendra Modi, in an unprecedented move, announced a ban on high-denomination notes.

99.3% of demonetized-notes worth Rs. 15.31-lakh-crore returned to banks: RBI

29 Aug 2018

99.3% of demonetized-notes worth Rs. 15.31-lakh-crore returned to banks: RBI

As many as 99.3% of the old Rs. 500 and Rs. 1,000 notes, that were banned overnight in November 2016, have been returned, the Reserve Bank of India said in its annual report.

Demonetization: Hyderabad firm that deposited Rs. 3,000cr missing from registered-address

31 Jul 2018

Demonetization: Hyderabad firm that deposited Rs. 3,000cr missing from registered-address

A Hyderabad-based company that suspiciously deposited and withdrew Rs. 3,178cr during demonetization is nowhere to be found at its registered address, TOI reports.

Did demonetization boost Digital-India? Currency with public crosses pre-November'16 levels

10 Jun 2018

Did demonetization boost Digital-India? Currency with public crosses pre-November'16 levels

There were two prime goals of demonetization- removal of black money and advancing towards a cashless economy.

What is RBI doing with old Rs. 500/1,000 notes?

18 Mar 2018

What is RBI doing with old Rs. 500/1,000 notes?

The demonetized Indian currency notes of denomination Rs. 500 and Rs. 1,000 are being shredded and briquetted before being disposed of through a tendering process, explained the Reserve Bank of India (RBI) in reply to an RTI query.

15 months later, RBI still processing demonetized notes

11 Feb 2018

15 months later, RBI still processing demonetized notes

Fifteen months after demonetization, the RBI is still processing deposited bank notes in an "expedited manner" and doesn't have updated information on the number of demonetized notes.

Trouble for people depositing more than Rs. 15lakh during demonetization

03 Feb 2018

Trouble for people depositing more than Rs. 15lakh during demonetization

Indians who bank-deposited unaccounted cash over Rs. 15 lakh during demonetization are now under government scanner.

Indian real estate: Should you invest now or not?

08 Jan 2018

Indian real estate: Should you invest now or not?

2017 was one of the worst phases for India's realty sector; even before it could recover from the Nov'16 demonetization blow, a slew of reforms like Real Estate Regulation Act and GST slowed the business.

#IndiaDecidesOn18th: What's behind BJP's diminished vote-share?

18 Dec 2017

#IndiaDecidesOn18th: What's behind BJP's diminished vote-share?

The BJP is all set to win Gujarat with a lead in about 99 seats (2pm).

RTI: Rs. 2000 notes are here to stay

12 Dec 2017

RTI: Rs. 2000 notes are here to stay

Recently, there were rumors regarding the demonetization of Rs. 2000 notes. To put them to rest, a Pune-based activist, Prafful Sarda filed an RTI. The RTI query clarified the status of Rs. 2000 notes.

Hiring, hikes finally set to improve after demonetization lull

10 Dec 2017

Hiring, hikes finally set to improve after demonetization lull

There's good news for employees. The lull in the job sector post demonetization has finally started on an upward trend and is set to continue on the path in 2018.

India's GDP growth surges to 6.3% after months of decline

30 Nov 2017

India's GDP growth surges to 6.3% after months of decline

India's GDP data for the September quarter showed positive trends: growth had surged by 6.3%, signaling the country has shaken off the effects of demonetization and GST rollout.

Bitcoins are the new "black" in real estate post-demonetization

23 Nov 2017

Bitcoins are the new "black" in real estate post-demonetization

Over the last one year, the value of Bitcoin -the oldest and largest cryptocurrency- has skyrocketed globally.

300% jump in PAN applications since demonetization: CBDT

15 Nov 2017

300% jump in PAN applications since demonetization: CBDT

Despite widespread criticism, demonetization has had some benefits, like a 300% jump in the number of applications received for Permanent Account Numbers (PAN).

Yashwant Sinha: Tughlaq had also implemented the note ban

15 Nov 2017

Yashwant Sinha: Tughlaq had also implemented the note ban

Senior BJP leader Yashwant Sinha does it again!

#Demonetization: One year on, here's looking at India in numbers

11 Nov 2017

#Demonetization: One year on, here's looking at India in numbers

It's been a year since PM Narendra Modi discarded the currency notes of denominations Rs. 500 and Rs. 1000. A lot has happened since then.

Demonetization plays cupid, inspires couple to have cashless wedding

09 Nov 2017

Demonetization plays cupid, inspires couple to have cashless wedding

Despite it being an unwelcome struggle for most, demonetization has affected people's lives in several unexpected, unique ways.

Demonetization anniversary: Chidambaram says RBI should release demonetization-related documents

08 Nov 2017

Demonetization anniversary: Chidambaram says RBI should release demonetization-related documents

As opposition celebrates "black day," former finance minister P Chidambaram slammed the Modi government for the demonetization move.

Demonetization anniversary: How has India changed in the last year?

08 Nov 2017

Demonetization anniversary: How has India changed in the last year?

This day last year, as citizens were settling down for dinner, PM Narendra Modi dropped a bomb on unsuspecting Indians: Rs. 500/1,000 notes were suddenly dead.

Manmohan Singh: Accept demonetization was a blunder, let's rebuild economy

06 Nov 2017

Manmohan Singh: Accept demonetization was a blunder, let's rebuild economy

In an interview to BloombergQuint, former PM Manmohan Singh said that demonetization's impact on the weaker sections is "more damaging" than is indicated by economic indicators.

Demonetization anniversary: I-T gears up to catch the "big fish"

06 Nov 2017

Demonetization anniversary: I-T gears up to catch the "big fish"

As the demonetization anniversary nears, I-T is actively engrossed in bringing into its net the "big fish" owning unexplained wealth.

Digital transactions have shot up by 77 times since demonetization

06 Nov 2017

Digital transactions have shot up by 77 times since demonetization

PM Modi's demonetization drive may not have been as effective in tackling black money as it intended to, but it has served as a definitive catalyst in pushing India towards being a cashless economy.

AAP to stage nationwide protests on first demonetization anniversary

05 Nov 2017

AAP to stage nationwide protests on first demonetization anniversary

The Aam Aadmi Party will observe November 8, the day PM Narendra Modi demonetized Rs. 500 and Rs. 1000 currency notes last year, as 'Fraud Day'.

Demonetization: SC disposes petitions seeking permission to deposit notes

03 Nov 2017

Demonetization: SC disposes petitions seeking permission to deposit notes

The SC today disposed of 14 petitions seeking permission to deposit demonetized notes. Petitioners had submitted they couldn't deposit them in banks within the prescribed deadline (December 31, 2016) due to unavoidable reasons.

Spike in credit card use and outstanding amount after demonetization

02 Nov 2017

Spike in credit card use and outstanding amount after demonetization

Indians are using credit cards a lot more after demonetization. They also collectively owe the banks 39% more money than they did a year ago, the Reserve Bank of India recently revealed.

Rahul: GST, note ban have ruined ease of doing business

01 Nov 2017

Rahul: GST, note ban have ruined ease of doing business

The day after World Bank (WB) noted that India's business climate has improved, Congress VP Rahul Gandhi said that demonetization and goods and services tax (GST) have ruined ease of doing business.

RBI is still verifying post-demonetization returned currency

29 Oct 2017

RBI is still verifying post-demonetization returned currency

With the first anniversary of the demonetization approaching, the banned notes recovered post-demonetization are still being "processed in all earnest", said the RBI in response to a RTI query.

Demonetization: Number of ATMs fall by 0.16% in rare trend

28 Oct 2017

Demonetization: Number of ATMs fall by 0.16% in rare trend

A new trend in ATMs shows how Indians are going for cashless payments, particularly after demonetization.

BJP plans 'Anti-Black Money Day' on demonetization anniversary

25 Oct 2017

BJP plans 'Anti-Black Money Day' on demonetization anniversary

A day after opposition parties announced they would mark November 8, the first anniversary of demonetization, as 'Black Day', Finance Minister Arun Jaitley talked about BJP's planned 'Anti-Black Money Day'.

Forget Black Friday, opposition to protest demonetization on "Black" Thursday

24 Oct 2017

Forget Black Friday, opposition to protest demonetization on "Black" Thursday

The opposition has decided to mark November 8, demonetization's first anniversary, by observing "Black Day" across the country.

GST, demonetization may impact wedding season: ASSOCHAM report

23 Oct 2017

GST, demonetization may impact wedding season: ASSOCHAM report

The Indian economy has slowed down on the back of demonetization and GST. But now that the wedding season is about to start, the ramifications will likely appear with full force.

IMF cuts India's growth forecast, but expects a medium-term recovery

11 Oct 2017

IMF cuts India's growth forecast, but expects a medium-term recovery

The International Monetary Fund (IMF) in its World Economic Outlook (WEO) report trimmed Indian economy's growth forecast to 6.7% from earlier 7.1% citing the disruptions caused by government's decisions of demonetization and introduction of good and services tax (GST).

Several companies owned hundreds of bank accounts during demonetization!

06 Oct 2017

Several companies owned hundreds of bank accounts during demonetization!

The government has said that 13 banks have furnished information regarding post-demonetization transactions by a whopping 5,800 suspicious companies.

Do you know where your old Rs. 500/1,000 notes are?

09 Sep 2017

Do you know where your old Rs. 500/1,000 notes are?

Currency in circulation still hasn't reached pre-demonetization levels. Apart from the fact that enough notes haven't been printed yet, there's another reason behind the shortage of currency, one you probably never imagined.

Demonetization: Printing presses add bill worth crores to RBI's losses

06 Sep 2017

Demonetization: Printing presses add bill worth crores to RBI's losses

RBI has suffered severe losses due to demonetization. Earlier, it said 99% of demonetized Rs. 1,000 notes had returned, thus defeating the whole purpose of the move which was to eradicate black money.