Chennai, (IANS) : Bridging the Rs 3 lakh crore gap of the actual currency in circulation and the required amount through digital banking requires a massive investment in infrastructure, says a report by the State Bank of India (SBI). According to the report prepared...
Thiruvananthapuram, (IANS) : Kerala Finance Minister Thomas Issac on Thursday said investments will suffer following demonetisation of high-value currency but conceded that the move will lead to lower prices and interests on loan in the long term. Addressing media...
New Delhi, (IANS) : Post demonetisation, a whopping Rs 21,000 crore has been deposited in Jan Dhan bank accounts. The money has come in after November 8 when Prime Minister Narendra Modi declared 500 and 1,000 rupee notes would no more be legal tender. The maximum...
New Delhi, (IANS) : The government on Wednesday sanctioned Rs 21,000 crore from the National Bank for Agriculture and Rural Development (Nabard) to district cooperatives, which will be used towards crop loans for farmers with some cash component for payment of wages...
Bhubaneswar, (IANS) : Odisha Chief Minister Naveen Patnaik on Wednesday said 11.61 lakh farmers across the state will get Rs 1,776 crore in crop insurance for Kharif season of 2015. The state government has started the process for disbursal of crop insurance amounts...
By Bappaditya Chatterjee, Kolkata, (IANS) : Demonetisation of high-value notes has led to an over 50 per cent downslide in the average overall forex sales following a sharp crunch of foreign currencies in the market, money changers said. Across cities, stores and...
New Delhi, (IANS) : Indelible ink will henceforth be used, as is done during elections, to prevent people from making cash withdrawals more than the permissible limit from bank counters, the government announced on Tuesday. Economic Affairs Secretary Shaktikanta Das...
By Amiya Kumar Kushwaha, New Delhi, (IANS) : Demonetisation has hit hard the mostly cash-based retail businesses in India, witnessing an estimated sharp plunge of 25 per cent since the government banned 500 and 1,000 rupee currency notes, according to traders. The...
New Delhi, (IANS) : With reports of Jan-Dhan accounts being used by other people to deposit their unaccounted cash, the Finance Ministry on Tuesday set an upper limit of Rs 50,000 for deposits into these accounts. "Some people are using Jan-Dhan accounts to deposit...
Chennai, (IANS) : Global credit rating agency Fitch Ratings on Monday forecast that inflation in India would touch Reserve Bank of India's (RBI) medium term target range of two-six per cent by end 2018. In its bi-monthly newsletter the rating agency said: "Fitch...