Impact of demonetisation News

Former Prime Minister Manmohan Singh is a member of the committee headed by senior Congress leader and former Union Minister M Veerappa Moily.

The standing committee is also expected to disuss administrative reforms that should be implemented at the Central Bank.

The standing committee is also expected to disuss administrative reforms that should be implemented at the Central Bank.

Fitch Ratings on Friday said repayment of Indian auto loans got affected by demonetisation and it would take a couple of months for collections to come back to normal levels.

Top CEOs and delegates from over 51 countries including UK and UAE would participate in the two day CII's partnership summit, which will be inaugurated by Union Finance Minister Arun Jaitley here on Friday.

Property market, long considered a black money safe haven, seems to have taken a big hit from demonetisation, with developers seeing their sales drop by about 50 percent in the last three months and now pinning their hopes on buyers coming to market with 'white money'.

The government is absolute clear from day one that it would move against the shadow economy and black money, said Finance Minister Arun Jaitley on Sunday, adding the period of pain and inconveniences post demonetisation is getting over and economic activity is being restored.

Fitch Ratings has lowered India`s GDP outlook for the current year to 6.9 percent from the 7.4 percent estimated earlier.

The demonetisation of old Rs 500 and Rs 1000 by the Modi government on November 8 has drawn different views from various experts, economists, political parties and even rating agencies.

Stamp duty collection in Maharashtra has dropped by 37 percent after the Centre demonetised high-value notes, a senior official said today.