Private sector Axis Bank has said it has so far suspended 50 accounts and 24 employees for suspicious activities in its operations. Axis’s retail banking head Rajiv Anand said so far the investigating agencies had visited eight branches, including five in New Delhi, and the number of employees suspended has gone…
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…
The amount of demonetized currency that has been deposited in banks has crossed Rs 12.44 lakh crore on December 10, while they have issued Rs 4.61 trillion to them since the demonetisation drive began 35 days ago. “The old notes of Rs 500 and Rs 1,000, which have been returned to the Reserve Bank and the currency…
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…
A whopping Rs. 152 crore unaccounted income, including a huge stash of new notes, bullion, jewellery, and documents pertaining to property ownership, have been seized on the premises of two chief engineers of the PWD and contractors, by the I-T officials over the last three days. “Based on the property documents and…
Officials from the Income Tax Department’s Karnataka and Goa region operationsseized Rs six crore, including Rs 4.7 crore in new Rs 2000 denomination, along with huge bullion and jewellery from four persons – two Government engineers and two contractors – following searches conducted on Wednesday and Thursday. A…
The Reserve Bank of India, issued a notification on Tuesday, said Jan Dhan account holders can withdraw only up to Rs. 10,000 per month. It added that, “Limited or Non KYC compliant account holders may be allowed to withdraw Rs. 5,000 per month from the amount deposited through SBNs after November 09, 2016 within the…
Prime Minister Narendra Modi on Tuesday asked BJP MPs, Ministers and MLAs submit their bank account statements for the period from November 8, the day he announced the demonetisation, to December 31, to the party chief Amit Shah by January 1 next year. Sources quoted Modi as saying, I will not allow the country to…
The Reserve Bank of India (RBI) on Monday notified a relaxation on the withdrawal limit of deposits from bank deposit accounts. It announced that it will extend the withdrawal amount over and above the Rs.24,000 weekly limit. “It has been decided, on careful consideration, to allow withdrawals of deposits made in…