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A year on, RBI waits for note counting machines

DNMUM392594 | 7/17/2017 | Author : Manju AB | WC :552


Mumbai: Almost a year after placing an order, Reserve Bank of India (RBI) is still waiting for 10 note counting machines to arrive from abroad.
RBI is yet to get delivery of the heavy-duty counting machines, for which it had floated global tenders in August 2016. This has slowed down the counting of the demonetized notes, sources said.
On November 8, 2016, notes of Rs 500 and Rs 1,000 denomination were declared invalid. These notes formed 86% of the Rs 17 lakh crore of cash in circulation. The deadline for residents to submit old currency notes was on December 31, 2016. Indians who were travelling abroad as well as non-resident Indians were given time till March 31, 2017, to exchange the old notes from the RBI counter
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RBI saw inflation rise, but chose to cut rates
DNMUM394642 | 8/17/2017 12:00:00 AM | Author : DNA Money Correspondent | WC :591

Mumbai: Despite risks to inflation, Reserve Bank of India (RBI) governor Urjit Patel and his deputy Viral Acharya voted for a 0.25% rate cut in the Monetary Policy Committee (MPC) meeting this month.
Patel said inflation expectations of household
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Retail investors eye NCDs as deposit rates fall
DNMUM394643 | 8/17/2017 12:00:00 AM | Author : Kumar Shankar Roy | WC :800

Kolkata: It’s not just equity markets that are on fire.
Thanks to the increase in participation from retail investors, corporate debt issuances in the form of non-convertible debentures (NCD) are on the rise.
The development comes as investors
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CIL net worth drops `10K cr on dividends
DNMUM394644 | 8/17/2017 12:00:00 AM | Author : Sumit Moitra | WC :432

Kolkata: Policy of excessive dividend payout is taking a toll on Coal India’s financial health.
In the last fiscal, the networth of world’s largest coal miner has depreciated by close to Rs 10,000 crore to Rs 24,507 crore. It was Rs 34,815 crore
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Allocate assets instead of tracking market trend
DNMUM394645 | 8/17/2017 12:00:00 AM | Author : Jharna Agarwal | WC :310

Picking up the right investments is often tricky. There are a number of products available in the market like stocks, bonds, mutual funds, private equity, structured products, and so on. However, having the correct knowledge to invest into the same i
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