RBI revises Market Stabilisation Scheme (MSS), raises ceiling to Rs. 6L crore

In a major move to deal with extra liquidity created in the system due to the demonetisation drive, the Central government as per the directions of the Reserve Bank of India raised the ceiling on Market Stabilization Scheme from Rs. ..

Union Cabinet approved proposal to levy 60% deduction on accounted deposits

The Union Cabinet has approved a proposal to levy close to 60% deduction on unaccounted deposits in banks above a threshold by amending the Income Tax (I-T) Act. The move was taken amid banks reporting over Rs 21,000 crore being deposited in ..

Bharat Bandh on Nov 28 against demonetisation

United Opposition consisting of major political parties like Congress, Trinamool Congress, and the BSP have given a call for nationwide Bharat Bandh to escalate their protest over the demonetisation drive of the union government. They said they will observe November ..

Government denies intentions to demonetise 100 and 50 rupee notes

The union government has categorically said that it has no intention to demonetise Rs 100 and Rs 50 notes to dispel rumours which are making rounds in various platforms like social media. It has issued a series of tweets to ..