The AIADMK has lowered its flag at its headquarters, setting off a frenzy of sorry in Tamil Nadu as desperate followers of Chief Minister J Jayalalitha broke down in tears. UPDATE: The AIADMK has rehoisted its flag after bringing it down initially. There were wailings and sobbings around the Apollo Hospital in Chennai, where Jayalalitha […]
Opening a new front in the fight against black money, Prime Minister Narendra Modi today said people who were forced or tricked into depositing other people’s money into their bank accounts may be allowed to keep the entire sum for themselves. “Do not touch that money,” Modi said, addressing a rally in UP. “I am […]
As part of the ongoing crackdown on tax evasion and illicit funds, the Bharatiya Janata Party has asked all its MPs and MLAs to submit the full details of their banking transactions from Nov 8 onwards. The central leadership of the party will examine the bank statements of these representatives to check for any illegal […]
For long, the Bharatiya Janata Party held the upper hand on Twitter — which — along with comment boards on news websites — forms the ‘wild west’ of political online campaigning in India with large-scale manipulation, ‘fake’ accounts, bullying and targeted attacks. Not to be outdone, the Aam Aadmi Party — or some of its […]
The government has banned over-the-counter exchange of old 500- and 1000-rupee notes due to suspected gaming of the system by those with black money. According to banking industry sources, the over-the-counter exchange system was being massively misused by hawala operators and others who had illegal funds to convert their old currency into new notes. “The system […]
Despite a moderation in India’s GDP growth rate in the short term due to cash crunch, the Indian economy will still grow faster than that of China, global ratings agency Fitch said. “We still expect India’s GDP growth to trend higher than China’s in the medium term,” said the agency, whose primary job is to […]
Ratan Tata, one of the most respected business figures in India and the chairman of Tata Trusts, has drawn attention to the practical difficulties faced by ordinary citizens in dealing with the ongoing currency exchange program. Tata, who was one of the first business leaders to extend a hand of friendship to Narendra Modi when […]
Law and Justice minister said that reservations to Dalits and backward communities was essential to ensuring equality of opportunity in government jobs. Delivering a talk on the concepts of freedom and equality in the Indian constitution, Prasad said it was wrong to think that reservations — based on caste and community — was against the […]
Congress Vice President Rahul Gandhi dismissed charges that the opposition was not speaking in one voice on demonetization and said the entire opposition is united in their demands. Asked whether the opposition parties wanted a roll-back, Gandhi said there were only two demands — one that Modi should speak in Parliament, and the secondly that […]
Banks have recalibrated 82,000 out of a little over 2 lakh ATMs in the country, economic affairs secretary Shaktikanta Das. “It will be only a matter of a few days (more) till all the ATMs are recalibrated,” Das said. To ease cash supply to the agricultural sector, a total of Rs 21,000 cr of new […]
The Muthoot Group said its broking and wealth management division, Muthoot Securities Limited, launched iWill — a service which offers online will writing in just 30 minutes. Muthoot Securities has launched this product in association with WillJini Succession Services Private Limited. “iWill enables customers using a smart phone to make a will online in just […]
Bookmychotu.com, which providers helpers and handymen for various household and other chores, is now offering to send people to stand in queues in front of ATMs at Rs 90 per hour. An eight-hour shift for a ‘chotu’ costs Rs 550, or Rs 69 per hour. “Are you short of cash? Need a Helper to stand […]
The Supreme Court on Monday dismissed the petition filed by the Income-Tax Department against Reliance Communications on taxing of the proceeds of Foreign Currency Convertible Bonds (FCCBs), said the telecom operator. The Supreme Court order has quashed contingent tax liability of RCOM for about Rs 4,800 crore. During Financial Year 2006-07, Reliance Communications had issued […]
Hiring activity fell 8% October this year compared to the same month a year ago, according to Naukri.com’s Job Speak Index. This dip was primarily caused by the festive season which saw Dussehra, Durga Pooja and Diwali fall in October, the company said. “Hiring activity generally tends to slow down around these festivals as recruiters […]
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 […]
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 […]
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 […]
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 […]
