Ordinance soon to impose penalty for holding old notes after Dec 30

The crucial cabinet meeting of the Union Government on Wednesday approved an ordinance that would end the government’s and the RBI’s liability on demonetised notes after the end of the March 31, 2017 deadline, according to reports. After December 30, the banned notes could be deposited only through RBI-specified…

Demonetisation: Old Rs 500 notes not acceptable from Dec 15 mid-night

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…

Rs 152 Cr unaccounted income detected in I-T raids from Bengaluru, TN; two Karnataka officials suspended

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…