-PTI India is projected to achieve a 7.3 per cent growth in 2017, down from the 7.7 per cent predicted in January United Nations: The United Nations has revised downward India's economic growth forecast for 2017 but predicted an increased 7.9 per cent GDP growth next year as it cautioned that stressed balance sheets in the banking sectors will prevent strong investment rebound in the near term. The UN World Economic Situation...

-The Hindu PoS devices’ demand falls on remonetisation, user charges Cash transactions are beginning to trump almost every form of digital payment alternative with April clocking a decline in volumes as well as value of transactions conducted through cards, mobile banking and the Unified Payment Interface (UPI). The trend assumes significance six months after the Centre announced demonetisation of ?500 and ?1,000 notes on November 8. The near-completion of the remonetisation process and merchants...

-The Hindu Business Line Need to assess impact of demonetisation on banks, says ICAI chief Vikamsey New Delhi: The CA Institute has urged the Finance Ministry and the Reserve Bank of India (RBI) to allow its members to undertake focused “special audit” of deposit flows into the banking system during the demonetisation period, which started on November 8 and ended on December 31 last year. There is a need to assess the demonetisation...

-The Telegraph New Delhi: The Union home ministry has asked nearly 6,000 of the 13,000 registered NGOs in the country receiving foreign donations to open accounts in nationalised banks to facilitate constant surveillance of their activities. The NGOs have accounts in cooperative banks or state-owned banks, which do not have core-banking facilities. "To maintain surveillance on the activities of NGOs receiving foreign funds, the ministry wants all NGOs registered under the Foreign Contribution...

-The Indian Express Given the slow pace of currency printing and indications from govt sources, it is unlikely that there will be full replacement of banned notes As currency in circulation is about 20 per cent lower than the levels at the beginning of November 2016, the sharp decline in the pace of remonetisation over the past few weeks and indications from government officials suggest that the government and the Reserve Bank...