Prime Minister Narendra Modi on Friday urged the nation to embrace digital payment methods to ensure that corruption and black money is rooted out of the country. Briefing the media about Prime Minister Modi’s assertion at the Bharatiya Janata Party (BJP) parliamentary party meeting, Union Parliamentary Affairs…
All Government exemptions provided for the use of old Rs 500 notes for utility payments will come to an end at the midnight of Thursday (December 15), not December 14, as a section of media claimed, the Finance Ministry said on Wednesday. “Exemptions for the use of old Rs 500 notes will end on 15 December…
Mahesh Shah, a businessman from Gujarat who made a surprising disclosure Rs 13,860 crore in unaccounted wealth under the Income Declaration Scheme (IDS) two months ago, said on Saturday he was used as a front by some businessmen and politicians to declare the money and would name them soon. “This is not a…
It is Prime Minister Narendra Modi’s dream to see the nation doing cashless transactions and riding on the road to cashless economy the Defence Minister Manohar Parrikar while addressing the media said, “As per PM Modi’s call for a cashless economy, I think Goa is a place where the cashless economy can be…
Unaccounted deposits made in old currencies up to December 30 will attract a 50 per cent tax and a lock-in about four years if it is declared to the Income Tax Department, sources in the government said on Friday, as the central government continues to plug holes 20 days after it announced that high-value currency…
SBI Chairperson, Arundhati Bhattacharya, said on Thursday, , “Digital transactions have really gone up in the sense that if you look at my PoS transactions, it is 300 per cent up in numbers and 200 per cent by value. If you take a look at the wallet, the wallet download is hugely up. In fact, we have never seen so…
The finance ministry on Thursday had relaxed the rules for wedding and farm withdrawals, with the ceiling fixed at Rs 2.5 lakh per wedding, per family. “In absence of operational guidelines from the RBI, we are unable to give Rs 2.5 lakh for marriage purposes. We are awaiting direction from the RBI,” said Punjab…
The Income Tax Department has begun to send notices to those who made deposits at banks that exceeded Rs 2.5 lakh. Hundreds of notices seeking the source of the money were issued after banks reported cases of “unusual or suspicious volumes of cash deposits” since the Centre’s decision to demonetise Rs 500 and…