Cash woes may vanish by Feb-end, 7 ways some bankers may be gaming the system

THE ECONOMIC TIMES Sat, Dec 17, 2016 | 01:22 PM IST Weekly News Platter

Government offers 'last window' to come clean with unaccounted cash The Modi government today announced a new scheme, saying that the income disclosures made under new plan will be kept secret. readmore PM Narendra Modi turns to old tricks as cash experiment hurts India's growth ​Rural India's support is important if Modi is to win elections in agrarian states including Uttar Pradesh and Punjab next year. ​ ATMs empty? That's because large banks are giving 90% cash only to wealthy customers Cos which manage India's ATM network and transport cash say they are receiving less than 10% of the currency that is being supplied into the system.

Editor's Pick Watch out black money hoarders! RBI is now tracking every new note in circulation Banks have been told to preserve CCTV recordings of operations at bank branches and currency chests for the period from November 08 to December 30, 2016. Cyrus Mistry removed as director of TCS with 93.11% shareholders voting for his ouster Mistry made an emotional appeal for a "conscience vote" in a speech read in absentia that included several scathing remarks aimed at Ratan Tata. Delhi to Mumbai for Rs 10k on private jet? JetSetGo is making it possible Started as a pure play aircraft aggregator connecting owners and customers, the company today operates India's largest private jet fleet. 7 ways some bankers may be gaming the system to launder new money post cash ban Finance Minister Arun Jaitley said unscrupulous people including some in the banking system were trying to accumulate large amounts of cash unlawfully.

Most Popular This Week Demonetisation biggest scam of the year: P Chidambaram Somebody fighting against corruption will be saluted: Kamath 20 fake accounts, Rs 60 crores found in I-T raid on Axis branch If we release data, it will create 'chaos': Hacker group Legion

Story of The Week India's crippling cash shortage could completely disappear by February end Cash disbursement to the public could touch Rs 9L cr by the second week of January. This would be more than 50% of the amount withdrawn from the system. read more

Money HNI ULIPs: Are they worth buying? For HNIs, insurers have now started offering big-ticket ULIPs that come with lower costs if held till maturity. Here's what some of them have to offer. CBDT warns of penal action if I-T returns are 'drastically' changed The CBDT said if the department notices any manipulation in income in previous year's ITR (income tax return), it will conduct scrutiny.

Stock Round Up Nifty50 forms 'Bearish Belt Hold'; 8,050, 8,055 important supports Nifty50 witnessed sustained selling pressure for most part of the session. If it stays below the 8,150 level, chances of a further decline cannot be ruled out.

More Newsletters

Daily Newsletter Special stories that round up the major developments of the day Markets Watch Round up of stock, currency, bond, money and real estate market ET Investment Opportunities Round up of stock, currency, bond, money and real estate Wealth Weekly news on personal finance, stocks, property, gold, tax planning and more. View All

Follow Us on ET:

About us|Advertise with us|Feedback|Sitemap|Code of Ethics © 2016 Times Internet Limited.

To ensure delivery directly to your inbox, please add etnotifications@indiatimes.com to your address book today. If you are having trouble viewing this newsletter, please click here

To unsubscribe or edit your subscriptions please click here