Reliance Jio’s free Welcome Offer will not be extended beyond Dec 31, despite widespread media reports saying that it will be. “There is practically zero chance of it getting extended,” said a marketing official working for the company in Kerala. “If there were to be any such thing, we would have got to know by […]
He may not be able to deliver the Rs 15 lakhs, but according to a media report, Narendra Modi’s government is thinking of transferring at least part of the black money destroyed through demonetization to Jan Dhan account holders. Jan Dhan accounts were opened in 2014 by economically weaker sections of the population who did […]
There will no over the counter exchange of currency tomorrow (Saturday) as banks have requested for a one-day break from the heavy workload. The only exception will be for senior citizens. Deposits and withdrawals will continue. “The entire staff of the banks have been dedicated to this for several days. Our own customers have been […]
The ministry of personnel, public grievances and pensions has refused to provide an answer to the Parliament on whether the proposed amendment to the Prevention of Corruption Act will make investigation of corruption charges against officials difficult. The ministry — which oversees all administrative matters relating to central government employees — has reportedly formulated an […]
The central government has said that it has no plans to impose any limits on the fare charged by airlines in India. The clarification has come in the context of demands in certain quarters that airlines will be the next to see curbs on surge pricing after such limits were placed on taxi services such […]
ICICI Bank Chief Executive Officer Chanda Kocchar today said the Reserve Bank of India’s currency chests have enough cash and there is no situation of scarcity for banks in securing notes. Kocchar also said that all banks including hers are bringing more and more ATMs into working mode after a change in currency put most […]
Aircel, which will merge with Reliance Communications in about six months, announced new recharge coupons that will cut outoing call rates for its Mumbai customers. The Rs 78 coupon will cut call rates to other Aircel users to 10 paise, including STD calls. Calls to non-Aircel users will cost 25 paise per minute. However, the […]
Congress Party leader Pramod Tiwari caused a flutter today in the Rajya Sabha after he compared India’s prime minister Narendra Modi to Hitler, Mussolini and Gaddafi, saying that Modi has moved from the company of great leaders like Jawaharlal Nehru to that of well-known dictators with his demonetization drive. “When history is written, and a […]
The head of the Unique Identity Authority of India has urged the public to write down the purpose and date when they submit photocopies of their Aaadhar cards to exchange currency notes to prevent misuse. “Photocopies of the Aadhaar letter are being submitted by the general public to banks. We urge them to clearly indicate […]
Nationalist Congress Party leader Praful Patel said political parties are facing a lot of problems in fighting elections due to the ongoing crack-down on cash by Narendra Modi government. “You know what is going on with fighting elections.. you have also been a treasurer,” Patel said in the Rajya Sabha today, looking at a fellow […]
Axis Bank, one of India’s top two private banks, has cut its lending rates by 0.15 percentage points in the wake of the ongoing currency exchange program. With this, the bank’s ‘marginal cost-based lending rate’ has been reduced to 9.05% for one year and 9.15% for three years. The change will come into effect from […]
A large proportion of the posts for judges in the various High Courts in India are lying vacant, resulting in painfully slow dispensation of justice, according to law ministry numbers. Out of a total of 1079 posts of judges in all the High Courts in India, a whopping 442 are lying vacant as of last […]
Razorpay, a payment processing company, announced eCOD, a new service that lets customers pay for deliveries after the delivery is actually made. Unlike other recent offerings like Wallet on Delivery etc, Razorpay has built in support for UPI — which means that you can pay directly from your bank account without using any wallet. UPI, […]
Reliance Group on Tuesday launched its Internet-of-Things offering Unlimit. IoT is jargon for a connected world in which appliances and equipment are connected to the Internet and managed remotely. Reliance Communications had announced an IoT partnership Jasper Technologies, later taken over by Cisco Systems Inc, last year. Separately, the company said it will soon add […]
It’s a question that has plagued the best minds of the country and no one has yet been able to figure out why the government came up with a 2,000-rupee note when it had got rid of the Rs 1000 note to control black money. However, Mehul Shah, a chartered accountant from Surat has come […]
Karnataka-based public sector bank Canara Bank said 75% of its ATMs have been supplied with cash and are up and working. The statement comes in the wake of widespread difficulty for people to access money via ATMs under the ongoing currency swap. India derecognized 500 and 1000 rupee notes in an effort to get everyone […]
The average deposit size for people putting their money into banks under the cash demonetization drive is Rs 45,811, according to the data released by State Bank of India. A total of 76,000 cr has been deposited via SBI branches, and close to another 3 lakh cr has been deposited via other banks. QUESTIONS The […]
Kerala’s merchants and traders union has asked its members to shut all shops from Tuesday to protest the Center’s decision to swap currency notes to control black money. The central government has withdrawn existing 500 and 1000 rupee notes and asked everyone holding the same to get them exchanged with new notes from their nearest […]
The ongoing crack down on black money alone will not be helpful to remove black money from the real estate sector, industry union ASSOCHAM said. Many buyers of real estate prefer to show lower costs on record simply to avoid the high levels of stamp duties payable on such transactions. In most states, Indians have […]
The country’s biggest bank State Bank of India saw nearly Rs 40,000 cr deposited by the public in its branches in the first two days of the ongoing currency swap. A total of Rs 1,666 cr worth of notes were exchanged. Under the ongoing currency swap, bank customers can get up to Rs 4,000 worth […]
