Snehal khanna Blog

Centre has two weeks to respond; apex court says people cannot be made to suffer Latest news : In a big relief to all those who are bearing the brunt of demonetisation , the Supreme Court on Tuesday rapped the Centre and asked them to give another chance to "genuine people to deposit old notes". The Centre has been given two weeks to respond. Rebuking the Centre for setting up a deadline for depositing demonetised currency, the apex court observed, "One cannot make people suffer if they have genuine reasons, should be allowed to deposit old notes". The Supreme Court today asked the Central government and the Reserve Bank of India (RBI), whether a window can be provided to the people who could not deposit their old Rs. 500 and 1,000 currency notes. The Central government told the division bench of the Apex Court today that it would file an affidavit in the case The apex court was hearing a petition filed by advocate Sudha Mishra and others...

Also says that note ban's impact could adversely affect its business Latest news : The country's largest lender, the 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 Rs 500 and Rs 1,000 banknotes from November 9, 2016, and issued new Rs 500 and Rs 2,000 currency notes in exchange for the discontinued ones. The long-term impact of this move on the Indian economy and the banking sector is uncertain, SBI told institutional investors prior to its Rs 15,000-crore share sale through private placement. The effects of India's recent demonetisation decision are uncertain, which may adversely affect the bank's business, results of operations and financial condition, the bank said in the Preliminary Placement Document to investors while flagging the 'risk factors'. "The demonetisation has and may co...