It has been one month since the time PM Modi announced the Demonetisation of Rs 500 and Rs 1000 notes. Since that time Indian Banks have released currency worth Rs 1.36 lakh crore, which is about 10 per cent of the total currency withdrawn, according to a report in Times of India. The report
Year 2016 has been a roller coaster ride for the entire world. There were a number of incidents and developments which marked the year. From Trump becoming the President-Elect of the United States of America to the demise of Cuban leader Fidel Castro, to the Brexit, a lot happened in the international arena.
<p>[vc_row][vc_column][vc_column_text] Since the time PM Modi announced that notes of Rs 500 and Rs1, 000 will be rendered illegal, there was a huge outcry in the entire country. People had mixed reactions to this announcement. The main aim to go ahead with Demonetisation was to curb the flow of black money in the country altogether. […]</p>
State Bank of India has lowered rates on bulk deposits between 125 basis and 190 basis points or bps (one bps is 0.01%). This means that the rates have been slashed by 1.9 percent. The bank has taken advantage of the situation in which there was a surge in deposits following Demonetization, which was announced.
Bringing some relief to the banks and nonbanking finance companies (NBFCs) from Demonetisation, the Reserve Bank of India has relaxed certain asset classification and provisioning norms in certain cases. Consequent on withdrawal of Rs 500 and Rs 1,000 notes small borrowers may need some more time to repay their loan dues. Taking representations into consideration,
The banking sector is expected to gain from both Demonetisation and relaxation in debt recast rules by the Reserve Bank of India. Modi government’s drive to check black money in the economy by banning currency notes of Rs 500 and Rs 1,000 denominations has considerably increased the daily deposits in banks and Demonetisation is
The e-kyc form is a paperless and forgery-proof method which helps to verify customer’s details online and it is based on Aadhar card. It is more like a service where you authorize and permit the KYC process to be performed electronically. Due to the introduction of e – KYC, the document verification time has
Once the demonetisation of currency notes of Rs 500 and Rs 1,000 was announced several businessmen, especially the ones in the small and medium enterprise sector (SME) has been badly disrupted because of the unavailability of cash. The central government is now mulling whether to show some leniency towards the classification of loans or
In most cases getting a loan might not be that difficult, what is difficult is paying the monthly EMIs. Paying EMI can be a huge financial burden and will always be around you till the time your loan is matured. Now you must be wondering whether EMI free loan is a reality or not
Since the time Prime Minister Narendra Modi has announced demonetization of Rs 500 and Rs 1,000 currencies, it seems as if the entire nation has gone into a frenzy. It was done in order to curb the usage of black money. This will also give a boost to cashless transactions. Here we are going .
Know your currency When on the evening of November 8th Prime Minister Narendra Modi announced the demonetization of Rs 500 and Rs 1,000 notes in order to curb the rampant use of Black Money, it took everyone by surprise. It was also announced that RBI was going to release new currency notes. The banking
Since PM Modi’s announcement of making Rs 500 and Rs 1,000 notes illegal in order to curb the black money. The RBI too announced a big change in the current monetary system, which will impact the high denomination currency notes. Here are a few things which you need to know End of road for
Subscribe our monthly newsletter to know more about offers and new tips we share on how to manage your finance.
