Demonetisation

RBI Withdraws Rs.2,000 Denomination Notes

May 20, 2023

The Reserve Bank of India (RBI) has recently taken a significant step by withdrawing the Rs 2000 banknotes from circulation. Reasons for the Withdrawal The RBI has decided to withdraw Rs.2,000 notes as it has fulfilled the currency requirement objective ..

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Supreme Court Verdict on Demonetisation Case

January 2, 2023

The Supreme Court of India has upheld the 2016 decision of the Narendra Modi government to demonetize currency notes of INR 500 and INR 1,000 denominations. The decision, which was taken by a 4:1 majority of the Constitution Bench, stated ..

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Fifth anniversary of Demonetisation- Economic impacts

November 8, 2021

India is observing the fifth anniversary of demonetisation on November 8, 2021. Demonetisation was announced by Prime Minister Narendra Modi in 2016. Background With this move, Rs 500 and Rs 1,000 currency notes were withdrawn as a legal tender across ..

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RBI launches MANI application for visually challenged

January 2, 2020

On January 01, 2020, the Reserve Bank of India launched the MANI application for visually challenged persons to identify new currency notes that were launched after demonetization. MANI is Mobile Aided Note Identifier. Highlights MANI application scans currency notes using ..

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Automobiles Sales in India fall for the 9th straight month

August 13, 2019

As per the data released by the Society of Indian Automobile Manufacturers (SIAM), the sales of domestic passenger vehicles has fallen down by 30.9% in the month of July. This is the 9th straight decline in monthly sales. The domestic ..

Benchmarking India s Payment Systems

June 5, 2019

The Reserve Bank of India (RBI) report “Benchmarking India s Payment Systems” provides a comparison of the payment ecosystem in India with the payment systems and usage trends in other major countries. Findings of the Report Even though there was ..