A man counting Rs 2,000 notes. Photo: Shutterstock

Banks continue to use discretion on filling up forms

The cash in circulation in the Indian economy has more than doubled since demonetisation

War on money laundering: Cash deals exceeding Rs 500,000 to come under PMLA

CPI MP Binoy Viswam on Friday hit out at the government over the RBI's announcement to withdraw Rs 2,000 currency notes from circulation, saying a white paper on the country's economy should be brought out to show the effects of demonetisation.
The Rs 2,000 denomination bank note was introduced in November 2016, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of legal tender status of all Rs 500 and Rs 1,000 bank notes in circulation at that time.
"Tuglakhs control the financial sector of the country. They have withdrawn the Rs 2,000 notes. They may argue that this shows the strength of the economy under Modi. Are they dare enough to bring out a white paper on Indian economy after the demonetisation?" Viswam said in a tweet.
The Reserve Bank of India (RBI) on Friday announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank accounts or exchanged by Septemb

Withdrawing without debit or credit cards reduces chances of transaction failure due to wrong PINs, or lost or stolen cards; note, however, that very few banks offer UPI-based withdrawals currently

digital payments

The India Post Payments Bank has increased charges for the Aadhaar Enabled Payment System service. The revised AePS Issuer transaction charges will be effective from December 1, 2022

Nirmala Sitharaman

Also, there is no GST on crematorium, funeral, burial, or mortuary services, the minister said and explained the Goods and Service Tax has been levied on the construction of new crematoriums.

ATM, DEMONETISATION, Rs 500, currency notes

NPCI advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks.

RBI, Reserve Bank of India

NPCI has been advised to facilitate Unified Payments Interface integration with all banks and ATM networks, says RBI

Chart

This is expected to enhance ease of transactions and eliminate frauds at the same time

SBI, State Bank of India

SBI will charge Rs 15 plus GST per cash withdrawal beyond 4 free cash withdrawals.

State Bank of India raises cash withdrawal limits at non-home branches

State Bank of India has increased the cash withdrawal limits through cheques and withdrawal forms for its customers at non-home branches

TDS on Rs 1-crore cash withdrawal aimed at cracking down on black money

The department has facilitated a new functionality for banks and post offices through which they can ascertain the TDS applicability rates

PMC Bank

On September 23, the RBI had imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities

How to defuse the co-operative bomb

This is the fifth increase in withdrawal limit since the bank was placed under its direct control with an administrator on September 23

Cash withdrawal seeing a rapid declining trend, post cash ban

Decline in cash withdrawals is intriguing even as limits on withdrawals were removed from March 13

A bank officer in Jammu displays a bunch of new ~2000 notes, while customers queue up to withdraw cash. Photo: PTI

Business Standard Twitter poll saw 78 per cent disagreeing with imposition of this fee by some banks

Long queues witnessed outside an ATM in New Delhi (Pic: Sanjay K Sharma)

Police arrangements commenced from 9 am in the morning

Valuations are expensive but will likely remain so, says the brokerage

Nomura

Senco Gold hit a new high of Rs 590.55, rallied 11% on the BSE in Wednesday's intra-day trade and now quotes at a hefty 86% premium over its issue price in little more than 2 months.

Jewellery, Art Work

Data Patterns (India) and Godfrey Phillips are the other two stocks which seem to be favourably placed on the charts, thus making a case for lower-risk at current levels.

Markets, bulls, bears, stocks, trading, technicals, market technical, technical analysis

Closing Bell on September 27, 2023: Among sectors, most of the key indices settled in the positive zone with the Nifty Pharma index gaining the most, up 1.2 per cent

BSE, NSE, Sensex, Nifty, stock markets

Stocks to watch on Wednesday, September 27, 2023: Shares of SignatureGlobal (India) and Sai Silk (Kalamandir) to debut on the bourses today.

Sensex, Nifty, BSE, NSE, stock market

Shubman Gill showed his insatiable hunger for runs with fifth hundred of the year while Shreyas Iyer hit a timely ton under pressure to set up a series sealing 99-run win for India in the second ODI against Australia here on Sunday.
Gill (104 off 97 balls) and Iyer (105 off 90 balls) shared a stroke-filled 200-run stand off 164 balls before Suryakumar Yadav (72 not out off 37 balls) unleashed carnage to fire India to 399 for five, the hosts' highest total against Australia in ODIs.
Skipper K L Rahul chipped in with 52 off 38 balls.
Rain stopped play for the second time in the game when Australia were 56 for two in nine overs. With the revised target of 317 in 33 overs, they fell further behind in the game and ended with 217 all out in 28.2 overs.
David Warner (53 off 39), who batted right-handed against R Ashwin (3/41), and Sean Abbott (54 off 36), had a good hit in the middle.
The series win without their five main players in the squad was a big boost for India ahead of the World

Shreyas Iyer, Shubman Gill

Here is the best of Business Standard's opinion pieces for today

Bond yields slide as reports tout progress in global listing of Indian debt

Government bonds, bond yield

According to Ravi Nathani, an independent technical analyst, break of 19,336 on the Nifty could usher in a bearish trend.

NSE, national stock exchange, nifty50

The Congress will hold press conferences in 21 cities on Monday in which 21 women leaders will "expose the Modi government" on the issue of women's reservation, the party said.
While MP Rajani Patil will hold a press conference in Ahmedabad, Mahila Congress chief Netta D'Souza will hold a presser in Hyderabad.
Ranjeet Ranjan will hold a press conference in Bhubaneswar, Alka Lamba in Jaipur, Amee Yagnik in Mumbai, Ragini Nayak in Ranchi and Shama Mohamed in Srinagar, among others.
Congress' media and publicity department head Pawan Khera said press conferences will be held in 21 cities by 21 women leaders.
"Agenda - to expose the treachery by the Modi government in the name of women's reservation," he said in a post on X.

Congress, Congress manifesto

He made the remarks during a press conference at the United Nations headquarters in New York. Lavrov said that his upcoming visit to North Korea follows the agreement between Putin and Kim Jong Un

Russian Foreign Minister Sergei Lavrov speaks at a press conference, during the G20 summit, in New Delhi, Photo: Reuters

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India Canada

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

The National Stock Exchange (NSE) has already submitted a proposal to the market regulator Securities and Exchange Board of India (SEBI)

NSE, Stock market

India is considering importing cheetahs from northern Africa due to concerns that these big cats from Namibia and South Africa have developed a winter coat in the Indian summer, officials said on Wednesday.
According to the officials, one of the significant challenges faced during the first year of managing cheetahs in India was the unexpected development of winter coats by some cheetahs during the Indian summer and monsoon, in anticipation of the African winter (June to September).
Even African experts did not anticipate this, a senior forest official said.
The winter coat, combined with high humidity and temperatures, caused itching, leading the animals to scratch their necks on tree trunks or the ground. This scratching resulted in bruises and exposed skin, where flies laid their eggs, leading to maggot infestations and, ultimately, bacterial infections and septicemia, resulting in the deaths of three cheetahs, the official explained.
"Considering that cheetahs in northern and .

Cheetah, Kuno National Park, Madhya Pradesh

Google turned 25 on Wednesday and marked the silver jubilee occasion with a special doodle that depicted the journey of the company from its humble origin in a rented garage in the US to becoming a global search giant.
The 25th anniversary doodle also visually portrayed the evolution of the software bellwether's logo over these years.
The firm is recognised around the world for its vibrant logo that embrace colours and simplicity.
On Wednesday, visitors to Google's homepage were welcomed with a dynamically changing logo with one of these being 'G25GLE', the numerals 25 being interlooped in a way that it formed the two 'Os' in the company's name.
On a note shared on its website on Wednesday, the search giant said," Today's Doodle celebrates Google's 25th year. And while here at Google we're oriented towards the future, birthdays can also be a time to reflect. Let's take a walk down memory lane to learn how we were born 25 years ago...".
By fate or luck, doctoral students Sergey Bri

Google

Prime Minister Narendra Modi on Wednesday urged YouTube content creators to spread awareness on cleanliness, digital payment and the 'vocal for local' campaign through their work.
"Awaken the nation, initiate a movement," he said, noting that for 15 years he has been connecting to the country and the world through a YouTube channel.
Addressing the nearly 5,000 content and aspiring content creators, he said their product impacts people and they have an opportunity to make it even more effective.
"Together, we can easily teach and make crores of people understand important matters. Friends, although there are thousands of videos on my channel, the most satisfying for me has been when I talked to lakhs of students in our country through YouTube on subjects like exam stress, expectation management, productivity," he said.
Highlighting some topics, he said cleanliness (Swachh Bharat) became a big campaign in the last nine years with everyone contributing to it and children bringing an .

PM Modi addresses media on the first day of the special session of Parliament, in New Delhi, Monday, Sept. 18, 2023. (PTI Photo/Manvender Vashist Lav)

Reliance Brands Ltd in collaboration with Indian designer Rahul Mishra has launched a new global luxury label, AFEW Rahul Mishra.
The inaugural easy-to-wear collection was presented on Wednesday at the Palais de Tokyo in Paris among global retailers, fashion press and celebrities, Reliance Brands said in a statement.
Curated by renowned stylist Jenke Tailly, this collection features a lineup of women's clothing, complemented by a selection of jewellery, bags, and shoes.
In the coming months, AFEW Rahul Mishra will be available on AFEW.RahulMishra.in and at Rahul Mishra flagship stores, followed by exclusive AFEW Rahul Mishra stores in key fashion cities.
"The launch during Paris Fashion Week propels the brand onto a global stage, reaching the most discerning global audience looking for functional everyday pieces elevated by a couturier's touch," said Darshan Mehta, MD of Reliance Brand.
RBL is a subsidiary of Reliance Retail Ventures Ltd (RRVL), the holding company of Reliance ...

Reliance Retail

Why are business families in acquisition mode? How does Krishna Ella view Bharat Biotech's future? Is it time to bottom-fish in stock market? What happens when sports associations are suspended?

Cash withdrawal

Changing of Rs 2,000 currency notes off to a slow yet smooth start

Debit card-based ATM withdrawals up 235% since demonetisation: Report

CPI MP hits out at govt over withdrawal of Rs 2,000 notes from circulation

A step-by-step guide on withdrawing cash from ATM using UPI apps

IPPB revises charges for Adhaar enabled payments; here all you need to know

No GST on chequebooks for customers, only on bank buying from printer: FM

RBI asks for option of interoperable card-less cash withdrawal at ATMs

RBI seeks option of interoperable card-less cash withdrawal at ATMs

Monetary policy review: Soon, withdraw cash from any ATM using UPI

SBI to levy charges for cash withdrawal beyond 4 free transactions a month

State Bank of India raises cash withdrawal limits at non-home branches

Banks, post offices can now find out TDS on large cash withdrawals

Bombay HC junks PMC Bank depositors' plea for lifting withdrawal cap

RBI enhances withdrawal limit for PMC Bank depositors to Rs 50,000

Cash withdrawal seeing a rapid declining trend, post cash ban

Cash withdrawal fee: 78 per cent disagree with banks' move

Delhi Police to be present at all banks, ATMs on Thursday