Feb 26, 2020
New Delhi Finance Minister Nirmala Sitharaman on Wednesday said that no instructions have been given to banks on stopping issuing notes of Rs 2000 denomination.
“As far as I know, no such instruction has been given to the banks (on stopping issue of Rs 2000 notes),” she said at a meeting with heads of PSU banks.
The Minister’s comments come after reports of ATM recalibration to phase out of Rs 2,000 notes and that the largest currency denomination will remain legal tender, but would be gradually phased out of public circulation. IANS
More Indians now invest in equities as financialization of household savings rises: SBI
New Delhi: The financialization of household savings in India has gained significant momentum as equities as percentage of household savings in the country has increased from 2.5 per cent in...
‘GoIStats’ mobile app launched for real-time access to official statistical data
New Delhi: The government on Sunday launched the 'GoIStats' mobile application that will help every stakeholder seamlessly access official data on the go. The initiative by the National Sample Survey...
Indo-Saudi economic ties get a major boost as Malabar opens its largest jewellery showroom in Riyadh
RIYADH: Indo-Saudi relations got a major boost following the opening of the largest jewellery showroom by India’s Malabar Gold & Diamond Group in Riyadh recently. The opening of this...
India curbs jute imports from Bangladesh as dumping hurts local farmers and mills
New Delhi: India on Saturday decided to impose port restrictions, with immediate effect, on the import of jute and allied fibre products from Bangladesh to check influx of cheap, subsidised...
Sensex surges 1,000 points, banking and heavyweight stock gain
Mumbai: The Indian stock markets closed on a strong note on Thursday, with benchmark indices Sensex and Nifty surging over 1 per cent each, led by gains in banking and...
Saudi Arabia, Russia offer oil supply continuity for India amid Iran’s Hormuz uncertainty
New Delhi: For India, which reportedly holds crude reserves for 90 days, Saudi Arabia’s ability to reroute crude exports via the Red Sea offers a layer of supply continuity amid...
Lilavati Trust files Rs 1,000 crore defamation case against HDFC Bank CEO Jagdishan
New Delhi: In a major development, the Lilavati Kirtilal Mehta Medical Trust, which runs Mumbai's Lilavati Hospital, has filed a Rs 1,000 crore defamation case against HDFC Bank's Managing Director...
Silver hits fresh all-time high on MCX amid geopolitical tensions
Mumbai: Silver futures on the Multi Commodity Exchange (MCX) touched a new all-time high of Rs 1,09,250 per kilogram on Tuesday, as investors rushed to safe-haven assets amid rising tensions...
Centre cuts customs duty on crude edible oils to bring down prices in local market
New Delhi: The Centre has reduced the basic customs duty on crude edible oils, including crude sunflower, soybean, and palm oils, from 20 per cent to 10 per cent to...
RBI pegs India’s GDP growth at 6.5 pc for 2025-26
Mumbai: The RBI has projected India’s GDP growth at 6.5 per cent for 2025-26, with domestic economic activity showing resilience on the back of a strong agriculture sector, industry picking...
RBI cuts repo rate by 50 basis points to 5.5 pc, changes policy stance to neutral
Mumbai: RBI Governor Sanjay Malhotra on Friday announced a jumbo 50 basis points cut in the repo rate from 6 per cent to 5.5 per cent to spur growth in...
Nifty Bank hits record high of 56,161.40 ahead of RBI MPC
Mumbai: The Nifty Bank index touched a record high of 56,161.40 on Tuesday ahead of the crucial RBI MPC meeting. The surge was driven by strong buying in select banks...
