Cash

Govt seeks Parliament's nod for over Rs 87K crore extra expenditure

It includes Rs 6,593 cr towards fertiliser subsidy scheme, around Rs 9K cr for agriculture, and Rs 8K cr for defence

Trading waters turn rough: Mkt swells drag cash and F&O volumes downstream

Not the time to raise the sail as investors batten down the hatches

As poor nations' sovereign default wave peaks, cash shortage may follow

The US Treasury's top economic diplomat has called for new ways to provide short-term liquidity support

Restrictions on cash transaction: Know details before making any payment

The government's intention is to curb black money, promote digital transactions, and ensure tax compliance

Watch: How to get cash delivered to your doorstep

Aiims Delhi smart card to cover all departments, no cash payment from April

The AIIMS Smart Card started on a pilot basis in some departments of the premier health institute here would be rolled out across all sections by March 31 for enabling all kinds of payments, the AIIMS Delhi said on Wednesday. Subsequently, no cash payment shall be accepted at any counters other than at the 'AIIMS Smart Card' top-up counters which shall be operationalised in multiple locations and shall operate on 24x7 basis, it said. The AIIMS Smart Card will be the only way to make payments for all investigations and procedures other than electronic payments via UPI, debit cards, credit cards, etc, the AIIMS said. In the order, its Director Dr M Srinivas referred to an office memorandum issued on November 17, 2022, advising that 'AIIMS Smart Card' facility for patients and attendants be started with effect from April 15, 2023 in collaboration with SBI Bank. This was done to move to digital payments mode and to improve patient convenience so that they don't have to stand in queues

TMS Ep582: North-South divide, govt's cash outgo, markets, interim budget

Is the North-South divide real? What will higher cash outgo mean for govt finances? What will keep the markets busy this week? What is an interim budget? All answers here

Odisha I-T raid: Officials to deposit all cash at Balangir SBI branch

Income Tax officials however continue to conduct the survey at properties linked to Dheeraj Sahu with documentation process still on

Odisha cash haul set to be 'highest-ever' with Rs 290 crore seizure

The seizure of "unaccounted" cash after Income Tax department raids against an Odisha-based distillery group and its linked entities is expected to reach Rs 290 crore, making it the "highest-ever" black money haul by any agency in a single operation, official sources said Saturday. The tax department has deployed about 40 large and small machines to count currency notes and brought in more department and bank staffers to finish the counting process, which began on December 6 following raids against Boudh Distillery Pvt Ltd and others, they said. Besides these, more vehicles have also been requisitioned by the department to transport the seized cash to government banks in the state. A premises linked to Congress' Rajya Sabha MP from Jharkhand, Dhiraj Prasad Sahu, were also covered as part of the searches, the sources said. Efforts to seek a response from the MP and an e-mail sent by PTI to the distillery group did not fructify. Tax sleuths are now recording the statements of variou

Cash questions

Increased currency circulation is intriguing

Problem of plenty for Indian companies as cash pile keeps growing

New investments haven't kept pace with money flowing in from operations

Adani Group touts enough cash, profit to service debts in coming decade

In a credit report released Thursday, the power-to-port conglomerate said its cash flow generated from business operation and balances stood at 778.9 billion rupees ($9.4 billion) by the end of March

Adani Group touts enough cash, profit to service debts in coming decade

In a credit report released Thursday, the power-to-port conglomerate said its cash flow generated from business operation and balances stood at 778.9 billion rupees ($9.4 billion) by the end of March

Cash transactions dramatically spike at petrol pumps, online orders: Report

One of major benefits of Centre's decision to withdraw the Rs 2,000 currency note might be the immediate uptick in consumption demand, according to State Bank of Indias Economic Research Department

People buying fuel, jewellery, grocery to offload Rs 2,000 notes: Survey

Fuel, jewellery and daily groceries are the top three preferred items for people to offload their Rs 2,000 currency notes post the RBI's announcement of withdrawing the currency note from circulation, revealed a new survey. The pan-India survey, conducted by location-based social network Public App, also found out that a whopping 55 per cent of people are planning to deposit their currency notes at the bank, while 23 per cent and 22 per cent are planning to spend them and get them exchanged, respectively. The Reserve Bank of India (RBI) on May 19 made a surprise announcement of the withdrawal of Rs 2,000 currency notes but gave the public time till September 30 to either deposit the Rs 2,000 notes in accounts or exchange them at banks. In about two weeks, almost half of the Rs 2,000 currency notes in circulation, worth around Rs 1.8 lakh crore, came back to the banking system, the RBI informed recently. The poll results, shedding light on the citizens' perspective and providing ...

Exchange of Rs 2,000 notes: SC refuses plea challenging RBI decision

The Supreme Court on Friday refused urgent hearing on a plea challenging the notifications enabling exchange of Rs 2,000 currency notes without any requisition slip and ID proof. A vacation bench of justices Aniruddha Bose and Rajesh Bindal perused the report filed by the registry, and said there is no urgency in the matter. The top court directed that the matter be placed before Chief Justice D Y Chandrachud after summer vacations. The petitioner advocate Ashwini Upadhyay submitted that it was very unfortunate that the top court is not taking up such an important matter. The apex court said this is a court and not a public platform and the matter has to end somewhere. This is second time that the apex court has refused an urgent hearing on the issue. On June 1, the top court had refused to list for urgent hearing Upadhyay's plea challenging the notifications and said it would not be taking up such pleas during the summer break. The lawyer had earlier submitted that Rs 2,000 ban

Volume of Rs 500 fake notes detected up 14.6% on-year in FY23, says RBI

The number of counterfeit currency notes of Rs 500 denomination detected by banking system, rose by 14.6 per cent to 91,110 pieces in 2022-23 compared to last year, according to RBI's annual report

Volume of bank notes in circulation increased by 4.4% during 2022-23: RBI

The value and volume of banknotes in circulation increased by 7.8 per cent and 4.4 per cent, respectively, during 2022-23 as compared with 9.9 per cent and 5 per cent, respectively, in 2021-22, revealed the RBI annual report released on Tuesday. In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 87.9 per cent of the total value of banknotes in circulation as on March 31, 2023, as compared to 87.1 per cent a year ago. The Reserve Bank has announced withdrawal of Rs 2,000 notes, and holders of the highest value currency have been given time till September 30 to exchange or deposit them. "In volume terms, Rs 500 denomination constituted the highest share at 37.9 per cent, followed by Rs 10 denomination banknotes which constituted 19.2 per cent of the total banknotes in circulation as on March 31, 2023," said the report. There were 5,16,338 lakh pieces of Rs 500 denomination notes totalling Rs 25,81,690 crore at end-March 2023. The number of Rs 500 notes

HC dismisses plea challenging RBI move on Rs 2,000 note exchange without id

The Delhi High Court on Monday dismissed a petition challenging the notifications enabling the exchange of Rs 2,000 denomination currency notes without any requisition slip and ID proof, saying it has been done to avoid inconvenience to citizens, and the court cannot sit as an appellate authority on a policy decision. The high court maintained it cannot be said that the government's decision is perverse or arbitrary or it encourages black money, money laundering, profiteering or abets corruption. A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad said this is purely a policy decision of the government and courts should not sit as an appellate authority over the decision taken by the government. The high court said the Public Interest Litigation (PIL) is devoid of merits and dismissed the petition filed by advocate Ashwini Kumar Upadhyay who challenged the notifications by the RBI and SBI enabling exchange of Rs 2,000 banknotes without requisition slip and

Rs 2,000 currency note withdrawal creating chaos for Indians in Gulf

Several Indians in the Gulf nations are having a harrowing time ever since the Indian government decided to withdraw the Rs 2,000 notes from circulation, with a lot of them saying that the banking institutions in the region are claiming to be not aware of the policy change. On May 19, the Reserve Bank of India (RBI) made a surprise announcement of the withdrawal of Rs 2,000 currency notes but gave the public time till September 30 to either deposit the Rs 2,000 notes in accounts or exchange them at banks. The RBI said it had asked banks to stop issuing Rs 2,000 notes with immediate effect. In the UAE, Indians are facing a tough time getting Rs 2,000 notes exchanged. Among many is Firoza Sheikh (name changed on request) who landed in Dubai last week with her two children to join her husband for a month-long break. Days later, as she heard the announcement of the Rs 2,000 currency withdrawal, she rushed to an exchange centre to get the local currency equivalent of the eight notes of