Currency Exchange

Demonetisation strains: IMF sees India's GDP slowing to 6.6% in FY17, bouncing back to 7.2% in FY18

Post-8 November, cash shortages and payment disruptions caused by the currency exchange initiative have undermined consumption and business activity, posing a new challenge to sustaining the growth momentum, the IMF said in its annual country report on India.

Utiba Announces International Remittance Clearinghouse Service

Offers a neutral corridor routing and currency exchange clearinghouse for mobile and traditional money remittances.

Demonetisation: Bank officers union calls for Urjit Patel's resignation; focus on RBI's role

The debate is now on Urjit Patel's role as the RBI governor in the demonetisation

Demonetisation: Govt eases restrictions on farmers, allows withdrawal up to Rs 50,000 per week

With cash crunch following demonetisation impacting agri sector, the government on Thursday eased guidelines for farmers by allowing them to withdraw up to Rs 50,000 cash per week from bank.

Demonetisation: Exchange limit cut to Rs 2,000 from Friday, more steps for farmers

For wedding pruposes, one family member can withdraw up to Rs 2.5 lakh from one account. All accounts being transacted have to be KYC-compliant

Rs 500, Rs 1,000 note ban: Chaos reigns supreme as banks scramble to meet note demand

Frustration and anger boiled over amid chaos and serpentine queues at banks on 11 November as less than half of ATMs were functional for only a few hours and banks struggled to cope with the rush for new currency notes

Here's what you can still do with your old Rs 500, Rs 1,000 notes

While one can exchange the banned notes by depositing it with the banks till 30 December 2016, the government, however, in order to avoid inconvenience to common public has also provided a 72 hour window to use the banned currency denomination at places other than the banks

Rs 500, Rs 1,000 note ban: Black money hoarders in Indore use railways help to bypass demonetisation

It seems black money hoarders may be making use of railways ticket reservation services to convert black money it into white money.

Earnings: Cognizant Q4 net up 12%; expects currency to affect revenues

IT services major Cognizant today said its net profit rose 12 perent to $362.89 million for the quarter ended December 31, helped by increased traction from consulting, digital and business segments.