-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...
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Pulses prices fall below MSP; lifting of export Ban sought -Jayashree Bhosale
-The Economic Times PUNE: Pulses traders have demanded lifting of the decade-old Ban on export of the commodity as prices of all varieties, except chana, have fallen below the minimum support price (MSP). They have cautioned that if prices continue to remain subdued, farmers might shift to other crops. “The government should allow export of pulses to support prices,“ said Bimal Kothari, vice-president of Indian Pulses and Grains Association. India had Banned export...
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...
More »Demonetisation U-turn? RBI now turns away people wanting to exchange Rs 500, Rs 1,000 notes
-PTI New Delhi: Hundreds thronging the RBI office to exchange old Rs 500 and 1,000 notes returned empty handed as the central Bank is allowing the facility only for NRIs or those who were abroad during the 50-day demonetisation period.' Prime Minister Narendra Modi in his address to the nation on 8 November, 2016 had said, "There may be some who for some reason, are not able to deposit their old 500...
More »Note recall most hurtful: Farmers
-The Telegraph New Delhi: A nationwide network of farmers today dubbed the demonetisation exercise "the most hurtful scheme since independence" and claimed that Prime Minister Narendra Modi's pledges for the agriculture sector announced on December 31 were "a rehash of what already exists". The network of farmers' associations and representatives from across the country said in a letter sent to the Prime Minister that the demonetisation move had shown a "dismaying disregard"...
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