Teamlease's Manish Sabharwal tackles 5 criticisms of demonetisation.Illustration: Uttam Ghosh/Rediff.com One of the most interesting bets in Mumbai's financial community earlier this month was about the percentage of Rs 12 lakh crore -- the total physical currency of Rs 17 lakh crore less Rs 3.5 lakh crore with banks and Rs 1.5 lakh crore in small notes -- that will not be exchanged by or deposited in banks by December 30. This demonetisation is only the 10th of the 25 things needed, because ... Rediff.com, 5 days ago
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'The true fruits of the attack on black money, what Raghuram Rajan did for the banking system, and what technology is doing for us will come in FY19, which, not surprisingly, is the year running up to the next Lok Sabha elections.' 'I expect at least half of today's Sensex companies to be out of the index in the next decade as the structure of the economy changes and the informal sector gradually dies away or becomes much smaller.'Illustration: Uttam Ghosh/Rediff.com To help understand the ...Rediff.com, 3 hours ago
Rediff.com's Prasanna D Zore reports from Akodara village that went cashless and digital on January 2, 2015. The foot soldiers of Modi's cashless India IMAGE: Prime Minister Narendra Modi dedicated ICICI Bank's Digital Village to the nation on January 2, 2015.To Modi's left is Maharashtra Chief Minister Devendra Fadnavis and ICICI Bank MD and CEO Chanda Kochhar.Photograph: Kind courtesy narendramodi.in Even as India is coping with long bank queues to withdraw and deposit demonetised ...Rediff.com, 7 hours ago The foot soldiers of Modi's cashless India Rediff.com, 3 days ago
It was found the declarants were persons of suspicious nature and very small means, and the declarations could have been misused.Business Standard's Dilasha Seth reports from New Delhi.Illustration: Uttam Ghosh/Rediff.com The final figures for disclosure of previous hidden income or wealth under the Income Declaration Scheme are only slightly higher than the provisional estimates. Two high value declarations of around Rs 2 lakh crore were excluded from the figures declared. These included Rs ...Rediff.com, 11 hours ago Doubts over new Income Declaration Scheme Rediff.com, 5 days ago If you find a bag of money on the road, don't pick it! Rediff.com, 1 week ago
Sale of commercial vehicles witnessed a fall of 15-17% in November as buyers struggled to meet margin money requirements, reports Swaraj Baggonkar. It is not only the cash-dependent truck and bus rental segment that has been hit hard by demonetisation but manufacturers of commercial vehicles, too, have witnessed a fall of 15-17 per cent in the last month as buyers struggled to meet margin money requirements. Some of India’s largest CV companies such as Tata Motors, VE Commercial Vehicles ...Rediff.com, 6 hours ago
The Enforcement Directorate has arrested two officials of Axis bank in New Delhi in connection with its money laundering probe for alleged irregularities in the conversion of old currency and supply of new notes leading to blackmoney generation.Officials identified the two managers as Shobit Sinha and Vineet Sinha, working as managers in the Kashmere Gate branch of Axis bank, and said they were arrested late Sunday under the provisions of the Prevention of Money Laundering Act.They will be ...Rediff.com, 7 hours ago
Family of Mahesh Shah, the Gujarat businessman who had gone missing after he disclosed Rs 13,860 crore under Centre's Income Disclosure Scheme, has been given police protection.Shah had appeared before the media on Saturday and claimed that he had made the disclosure at behest of some people in the greed for commission."It is not my money. The money belongs various people including politicians, babus and builders,'' he told ETV Gujarati channel.Later police and I-T officials arrived at the ...Rediff.com, 1 day ago Did it for commission, says Guj businessman who disclosed Rs 13,860 crore black money Rediff.com, 1 day ago I-T raids unearth massive black money -- and almost Rs 6 cr in new notes! Rediff.com, 3 days ago Demonetisation in Kerala: Terror outfits use contraband money to indoctrinate youths Firstpost.com, 1 week ago
'In addition Chapecoense will receive the two million dollars in prize money.' IMAGE: Crystal Palace supporters hold a banner to commemorate the victims of the plane crash involving the Brazilian club Chapecoense prior to the English Premier League match between Crystal Palace and Southampton in London. Photograph: Bryn Lennon/Getty Images Five days after most of their squad were killed in an air crash in Colombia, Chapecoense have been told they will be named Copa Sudamericana ...Rediff.com, 1 day ago
Prime Minister Narendra Modi on Friday said that large volumes of cash are a big source of corruption and black money.In an article posted on social media, Prime Minister Modi said corruption slows down growth and takes a toll on the dreams of the poor, neo-middle class and middle class."In the 21st century India, there is no place for corruption," he said.Prime Minister Modi also appealed to the people to lead the change towards cashless transactions and to lay the strong foundations ...Rediff.com, 3 days ago Modi takes to LinkedIn to pitch for cashless transactions Rediff.com, 3 days ago 'Should I not go after the corrupt?' Modi defends demonetisation Rediff.com, 1 day ago
'The whole country supports the government.''The exceptions are only two -- those who thrived on black money and those who are inimical to Indian interests,' argues Major General Mrinal Suman. Life is full of surprises, nay shocks. When Manmohan Singh slammed demonetisation as 'organised loot and legalised plunder,' one did not know how to react. The man who facilitated the generation of maximum black money was accusing the Modi government of 'monumental mismanagement' -- some brazenness! ...Rediff.com, 4 days ago Deposited black money after Nov 8? Pay 50% tax. If not, 85% Rediff.com, 1 week ago Demonetisation to eradicate black money, to benefit all: Govt to SC Rediff.com, 1 week ago
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