As we celebrate India's 77th Independence Day in a few days, I am happy to note that the Indian economy is exuding enhanced strength and stability despite the massive shocks to global economy in recent years.
Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.
88% of the ₹2000 banknotes in circulation as on May 19, 2023, have since been returned
On 27th July the Reserve Bank of India (RBI) clarified that banknotes with a star (*) symbol are legal and valid currency.
The Reserve Bank of India (RBI) has received ₹2.72 lakh crore in ₹2000 notes since May 19, 2023. This is about 76% of the ₹2,000 banknotes that were in circulation as on May 19.
RBI on Sunday refuted reports that Rs 88,032.5 crore worth of Rs 500 notes have gone missing. The RBI said that all the banknotes supplied from printing presses to the central bank are properly accounted for.
Rs.2000 Denomination BanknotesWithdrawal from Circulation; Will continue as Legal Tender
Finance Minister Nirmala Sitharaman stressed the government’s priority to incentivise and encourage expenditures in India through production-linked incentive (PLI) schemes
RBI has informed all financial institutions including banks and NBFCs to treat informal micro enterprises (IMEs) not covered under the GST regime or exempted from the CGST Act, 2017, but having the Udyam Assist Certificate (UAC) as micro enterprises
The Reserve Bank has undertaken a comprehensive review of the system of processing of applications for registration as Core Investment Companies (CICs) to make the registration process smoother and hassle free.
CAclubindia
