Petrol Pumps, Airlines Will Not Take Old Notes From Saturday | DEMONETIZATION

Old notes will no longer be accepted at petrol pumps and airline ticket counters starting from Saturday, according to sources. So far, petrol pumps and airlines had been given an exemption from demonetization of 500 and 1000 rupee notes. However, in an effort to control the widespread ‘whitening’ of black money, the government is gearing […]

Fitch revises US growth estimates on Trump election, says protectionism to rise

The surge in populism and anti-establishment sentiment witnessed in the Brexit vote and Donald Trump’s victory in the US presidential election seem likely to push structural policies in the direction of economic nationalism, said Fitch Ratings in its latest global economic outlook (GEO). This will result in a reduction in trade openness and international labour […]

DEMONETIZATION: How some earned lakhs standing in queues

The government has banned over-the-counter exchange of old 500- and 1000-rupee notes due to suspected gaming of the system by those with black money. According to banking industry sources, the over-the-counter exchange system was being massively misused by hawala operators and others who had illegal funds to convert their old currency into new notes. “The system […]

Despite Demonetization, India will beat China in GDP growth: Fitch Ratings

Despite a moderation in India’s GDP growth rate in the short term due to cash crunch, the Indian economy will still grow faster than that of China, global ratings agency Fitch said. “We still expect India’s GDP growth to trend higher than China’s in the medium term,” said the agency, whose primary job is to […]

Hiring slows in October due to festival effect – Naukri.com

Hiring activity fell 8% October this year compared to the same month a year ago, according to Naukri.com’s Job Speak Index. This dip was primarily caused by the festive season which saw Dussehra, Durga Pooja and Diwali fall in October, the company said. “Hiring activity generally tends to slow down around these festivals as recruiters […]

Chidambaram says Congress didn’t demonetize because it was costly

Former finance minister P Chidambaram said the previous Congress governments had also considered attacking black money by swapping currency notes, but decided against it as it was considered too costly. Talking to mediapersons, Chidambaram said the cost of swapping the notes would be between Rs 15,000-20,000 cr and the benefit should at least be equal […]

RBI’s OFFICIAL GUIDE on how to exchange currency notes of 500, 1000

The Reserve Bank of India has released the following question and answers to alleviate citizens’ doubts about the new ban on 500 and 1000 rupee notes.We are reproducing the entire FAQ below for readers’ convenience. Why is this scheme? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the […]

India-Pakistan invisible trade worth $5 bln a year – study

Informal trade or smuggling of goods between India and Pakistan is estimated at over USD five billion, almost double the official two-way commerce between the two neighbours with history of chequered ties, said an ASSOCHAM study. There are more exports from India than imports through the smuggling route. The official Indo-Pak trade is only USD […]

India’s GDP grows by 7.1% in Apr-June quarter

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product(GDP) for the first quarter (April-June) Q1, of 2016-17, both at constant (2011-12) and current prices, along with the corresponding quarterly estimates of expenditure components of the GDP. GDP at constant (2011-12) prices in Q1 of 2016-17 […]

India’s GDP to grow a robust 7.7% this year: FICCI survey

The results of latest round of FICCI’s Economic Outlook Survey puts across a median GDP growth forecast of 7.7% for the fiscal year 2016-17. The growth in 2016-17 is expected to be supported by an improvement in the agricultural and industrial sector performance. Prediction of a good monsoon after two consecutive years of sub-optimal rainfall […]

Exit mobile version