-The Financial Express Thiruvananthapuram: Ration shops in Kerala are readying to go the ATM way soon. As many as 14,500 ration retail shops in Kerala will soon be equipped with electronic point of sale (ePoS) machines, which would work as micro-ATMs. The Kerala State IT Mission has been asked to hasten a connectivity survey in rural areas to ensure uninterrupted internet connection, before introducing micro-ATM facility at all fair-price shops. Although the...
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Explain demonetisation, your role, flip-flops, secrecy: Parliament panel to RBI Governor Urjit Patel -Anand Mishra
-The Indian Express Urjit Patel to appear before PAC on January 28, list of 10 questions sent New Delhi: THE PUBLIC Accounts Committee (PAC) headed by senior Congress leader K V Thomas, which has asked Reserve Bank of India (RBI) Governor Urjit Patel to appear before it on January 28, has asked him 10 probing questions on the demonetisation issue — from the decision-making process to the level of RBI’s involvement, impact...
More »Report cash deposits between April 1 and November 9, 2016, Income Tax Department asks banks
-PTI NEW DELHI: The Income Tax Department has asked banks to report cash deposits in savings accounts between April 1 and November 9, 2016. The move seeks to analyze the banking transactions carried out in months before the demonetisation decision was announced on November 8. Besides, banks have also been directed to ask the account holders, who did not furnish PAN (Permanent Account Number) or Form 60 (for those without PAN) at the...
More »Govt wants details of cash deposited before note ban -Aanchal Magazine
-The Indian Express Finance Ministry says Bank Account holders must submit PAN by Feb 28 New Delhi: IN A new set of rules notified on Saturday, the Ministry of Finance has asked banks and post offices to furnish details of cash deposits made during April 1-November 9 last year for amounts adding up to Rs 2.5 lakh or more per person, in all accounts other than current accounts. For current accounts, banks and...
More »What the RBI Should Do to Minimise the Impact of Demonetisation -Surajit Das
-TheWire.in People have lost their jobs, small businesses are closing down and the agricultural sector has been hit hard as a result of demonetisation. The RBI must increase the supply of cash to curb further fallout. Money is not cash. In fact, cash in circulation was just 14% of all money in 2015-16 according to the Reserve Bank of India (RBI). Measures of money also count close substitutes of cash including the...
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