Note ban has and may continue to result in a slowdown: SBI

Note ban has and may continue to result in a slowdown: SBI

New Delhi: Country’s largest lender State Bank of India (SBI) has expressed apprehensions that demonetisation may continue to result in slowing down of the economy, and adversely affect its business. The government had discontinued Rs500 and Rs1,000 banknotes from 9 November 2016 and issued new Rs500 and Rs2,000 currency notes in exchange for the discontinued […]

USD 770 billion black money entered India in 2005-2014: Report

USD 770 billion black money entered India in 2005-2014: Report

New Delhi: An estimated USD 770 billion in black money entered India during 2005-2014, US-based think tank Global Financial Integrity (GFI) has said in its latest report. Nearly USD 165 billion in illicit money exited the country during the same period, the global financial watchdog said. During 2014 alone, about USD 101 billion black money […]

JK bank to install ePoS machines in urban Fair Price Shops

JK bank to install ePoS machines in urban Fair Price Shops

JAMMU: Fair Price Shops (FPS) under the of Food, Civil Supplies and Consumer Affairs (FCS&CA) in the urban areas would be equipped with electronic Point of Sale (ePoS) machines Jammu and Kashmir Bank has assured Minister for (FCS&CA) Choudhary Zulfkar Ali . The assurance came through during the Minister’s meeting with the concerned officials from […]

Minister for making systems transparent through ‘cashless economy’

Minister for making systems transparent through ‘cashless economy’

JAMMU: Minister for Food, Civil Supplies and Consumer Affairs Choudhary Zulfkar Ali Monday called making economy cashless to ensure transparent systems and strengthen the economy. The Minister said while speaking at the inaugural function of “Training on Digital Payment”- capacity building State level workshop for small and medium businesses, organized by National Institute of Electronics […]

People sending demonetised notes abroad by courier: Customs

People sending demonetised notes abroad by courier: Customs

New Delhi: The customs department has unearthed a new modus operandi of sending demonetised Rs500 and Rs1,000 notes abroad by courier in a bid to get them converted in the city later. After these high denomination notes were taken out of circulation by the government in November last, Non-Resident Indians (NRIs) were given a longer […]

DDC emphasizes fast-tracking cashless payment system

DDC emphasizes fast-tracking cashless payment system

RAMBAN:  District Development Commissioner Mohammad Aijaz Firday convened a meeting of all stake holders and concerned officers to review progress on implementation of cashless transaction system in various departments and business establishments in the district. DDC instructed bankers to speed up process of covering all shopkeepers and customers under cashless payment systems along with Aadhaar […]

Note ban woes over, SME credit growth picks up

Note ban woes over, SME credit growth picks up

NEWDELHI: Small businesses which were hit the hardest during demonestisation are bouncing back smartly, at least if their demand for credit is anything to go by. Bankers say that unsecured business loans portfo­lio, which is a lifeline for these small business entities, is showing a 15-18% growth over the past three months. “After demonetisation, there […]

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