The Income Tax department estimates that an astounding Rs. 3-4 lakh crore of tax evaded income, black money in common jargon, may have been deposited after demonetisation was announced on November 8 last year and Rs. 500 and 1000 currency notes were rendered illegal tender. The report comes in the wake of information that suggests 97% of the total money …

In the midst of demonetisation probe, Union Cabinet today gave a final nod and approved the authoritative body to penalise public who possess old notes of Rs. 500 and Rs. 1000 after December 30th, 2016. The ordinance has been passed to prevent future litigations against the note ban. It holds a cap of near about 10 notes of each higher-denomination …

Post demonetisation on the 8th of November, India’s $2 trillion economy is expected to undergo a sea change with a bold plan laid down by PM Narendra Modi and the Central Government. In a move that could see the end of corruption and red-tapism, the Central Government plans to shift all official government purchases, from the tiniest item like a …

The Prime Minister Narendra Modi will visit the city od Varanasitomorrow as the battle for the Hindi heartland continues. As the UP elections 2017 starts to heat up, all four major contenders have jumped into the fray and the BJP is doing so as well, it seems. Varanasi is the constituency of PM Modi and he will make a visit …

In the ongoing saga of demonetisation, the judiciary has stepped in, with the Supreme Court declaring that a five-judge bench will decide if the controversial move by the government is legally valid. With parliament in limbo amidst the chaos between the treasury benches and the opposition and the common man engulfed in confusion, this development will surely put the centre …

In a move towards the establishment of a cashless experience and a digital experience, Paytm has announced a formal partnership with major NHAI (National Highways Authority of India) toll concessionaires that includes the likes of Reliance Infra, Sadhbav, IRB, MEP, L&T and GMR to enable cashless payments at all state, national and city toll plazas. Commuters across the country who …

Some time has passed since Legion, the self-described hacking group, broke through the cyber defences of Congress VP Rahul Gandhi, fugitive tycoon Vijay Mallya and journalists like Barkha Dutt and Ravish Kumar. In light of a recent threat by the group to its plans to break into theIndian Government’s domains likeSansad.nic.in, the IT ministry led by Ravi Shankar Prasad has …

Amidst intense public and government scrutiny across the country as more and more accounts are seized and officials are suspended, an Axis Bank branch in Noida was handed a notice by the Enforcement Directorate (ED) after it was accused under the Prevention of Money Laundering Act or PMLA of illegallytrading new notes for old scrapped notes andalleged forging a customer’s …

Afte partnering with Ola to ensure doorstep cash-on-demand,Yes Bank has tied-up with e-grocer Grofers in allowing customers to get cash of up to Rs2,000 if and when they order grocery online, via Grofers. The service has started inMumbai, Gurugram and Bengaluru as of today. The only caveat for the customer is that they will need to buy groceries worth a …

In a glancing blow to the common man of the country, especially the elderly and the retired who survive on interest garnered on bank deposits and small savings schemes, the Public Provident Fund, the Kisan Vikas Patra, the Sukanya Samriddhi Account and the Senior Citizens Savings Scheme are set to earn less as the government is mulling an interest rate …

Prime Minister Narendra Modi‘s ambitious demonetisationdrive has been getting enthusiastic reactions across the country, although there has been criticism from certain quarters too. Now it seems that this ‘surgical strike’ on black money and counterfeit currency will impact Central Government employees too.They may now have to wait longer than they had anticipated for a decision on the implementation of hikes …

As if the demonetisation move wasn’t enough to cause for concern, the ordinary citizen is now learning that the new Rs. 500 notes, introduced weeks ago to replace the scrapped ones, have defects. Early reports suggest that two different versions of the same currency note have surfaced with discrepancies in design, size and even shape. In addition to further adding …

The Reserve Bank of India in a move to curb the black money menace and in order to prevent the ‘Jan Dhan‘ accounts of the poor to be used to launder money, has issued directives on Wednesday, pegging the withdrawal limits at Rs. 10,000 per month. Earlier this month, the Finance Ministry had set an upper limit of Rs 50,000 …