-The Hindu Business Line Remonetisation taking place at a good pace, RBI Governor tells House panel New Delhi: RBI Governor Urjit Patel told the Parliamentary Standing Committee on Finance that the non-availability of the currency verification processing system (CVPS) machines is one reason why the counting of demonetised notes is not yet done. Though he painted a rosy picture of the digitisation process in the country post-demonetisation before the panel, figures presented by...

-The Times of India NEW DELHI: As much as Rs 110 crore of the Rs 610 crore of unaccounted money seized in raids during demonetisation was in new Rs 2,000 and Rs 500 notes, indicating misuse of windows offered by the government to change old currency. The new currency seized by police and income tax officials was partly generated through routes such as petrol pumps, railway and airline ticketing and toll plazas...

-NDTV Profit The relaxation comes against the backdrop of reports that many district co-operative banks did not have enough cash to disburse to farmers. The Finance Ministry on Tuesday allowed banks, post offices and district central cooperative banks to deposit the scrapped Rs. 500 and 1,000 rupee notes with the Reserve Bank of India within 30 days and exchange the value of notes deposit with the new notes. In an official notification...

-The Hindu Business Line Recent macro data hint at delayed second-order impacts from note ban Did the Indian economy suffer only temporary hiccups from the abrupt withdrawal of high-value currency notes in November 2016? Until recently, the Government and quite a few commentators were convinced that it did. Macro-economic data releases such as the first advance GDP estimates (which retained real gross value added, or GVA, growth at 7 per cent for...

Paytm's founder Vijay Shekhar Sharma was in the news recently for signing a deal to purchase a Rs. 82 crore worth property in Lutyens’ Delhi. He is credited with the growth of Paytm's mobile wallet services, which is currently being used by over 220 million users across the country. Although Paytm was launched in 2010, the popularity of its mobile wallet services and payment gateway among the ordinary citizens grew...