Rs 14 lakh crore, 22 billion notes junked: What it means for black money

Rs 14 lakh crore or perhaps 217 thousand -- 86% of the associated with Indian currency exchange currently around circulation -- will become worthless from night of December 8 2016 as part of the administration s attack on dark-colored or unaccounted money. Rs 500 paperwork amount to Rs 7. eighty five lakh crore (approximately one hundred twenty billion) though Rs a single 000 total to Rs 6. thirty three lakh crore ( ninety seven billion) in line with the Reserve Traditional bank of China data. Allow me to share three ways whereby this proceed should impact the black income economy which will according to the following 2016 document by a fiscal research business Ambit Money forms a new fifth of your Indian economic system: 1) Typically the sudden declaration will directly impact on black funds hoarded by means of Indians all of which will possibly allow two types -- often deposit the funds after questioning themselves to be able to banks as well as exchange the funds by December 24 2016. According to standard calculations which has a daily control of Rs 4 000 a day at most Rs 59 000 may be exchanged by way of a person around 15 days coming from November twelve to Late 24. From November 24 onwards the exchange process shall be eased for convenience meaning the exchange limit will be increased. There is no limit on deposits However. 2) As the contract for people for you to declare undisclosed income -- the Profits Declaration Program -- broken on Sept. 30 2016 no unaccounted for money may be declared today. It prevents to be income instead will probably be a pointless piece of paper like Prime Minister Narendra Modi termed that in his conversation. 3) Cases of cash-for-vote rampant in Native american indian elections -- in the form of terme conseillé of cash inside deligitimised denominations -- will possibly not work any more. The new money notes connected with Rs 1 999 and Rs 500 are deprived of nano poker chips and should not be tracked since WhatsApp ahead have been saying. From night November around eight 2016 nowadays Rs 700 and Rs 1 000 notes should legal tender Modi announced within the address to help nation. The 2 highest denominations of standard bank notes applied as benefit India Rs 500 and also Rs a single 000 is not used for just about any transaction out of Wednesday. The us government had prior withdrawn previous Rs 400 notes via circulation in essence demonetising often the currency 2 years back IndiaSpend had revealed in Present cards 2014. Here's what you can do. #IndiaFightsCorruption pic. tweets. com/jtoCuXFohF PMO India (@PMOIndia) November 7 2016 Less costly money now against the law costlier income stays Typically the Rs a single 000 take note of was the most affordable note created in India. Rs 1 000 note expected only zero. 32% with its confront value to generate but any Rs a hundred note calls for 1 . 8% of their face valuation Rs 55 note several. 6% plus Rs 12 note in search of. 6% to help print. You will discover 15. several billion paperwork of Rs 500 in addition to 6. three or more billion records of Rs 1 000 in flow in Of india. Thus 22 billion notes in the national country will need to be junked after midnight. The particular move will have a optimistic byproduct: men and women and people with no accounts -- trying to keep all cash flow in hard cash and at dwellings -- will have to make bank accounts to be able to deposit worthwhile financial introduction indirectly predictable.. hthighlightswrap thicker: 40%; top: auto; background-color: #f1f1f1; font-family: Roboto Roboto Black Roboto Light Roboto Medium Roboto Thin; margin-right: 20px; margin-top: 10px; margin- bottom: 10px; border-bottom: 2px solid #40a3d3; float: eventually left. hthighlight_top thicker: 92%; background-color: #40a3d3; font-size: 110%; text-transform: lowercase; support: 4%; font-weight: 700; colouring: #FFF; move: left. hthighlight_story a thicker: 96%; margin-bottom: 5px; text-transform: non-e; text-decoration: non-e; font-weight: normal; coloring: #262626; extra padding: 4%; move: left. hthighlight_story a: fly color: #40a3d3. hthighlight_story some sort of: visited colouring: #939598 @media only tv screen and (max-width: 360px). hthighlightswrap width: completely; height: automotive; background-color: #f1f1f1; font-family: Roboto Roboto Black color Roboto Gentle Roboto Channel Roboto Skinny; border-bottom: 2px solid #40a3d3; margin-top: 5px; margin-bottom: 10px; float: still left. hthighlight_top size: 92%; background-color: #40a3d3; font-size: 110%; text-transform: lowercase; foam: 4%; font-weight: bold; coloration: #FFF; move: left. hthighlight_story a size: 96%; margin-bottom: 5px; text-transform: non-e; text-decoration: non-e; font-weight: normal; shade: #262626; extra padding: 4%; move: left. hthighlight_story a: fly color: #40a3d3. hthighlight_story a new: visited shade: #939598 continue reading Rs five-hundred Rs thousands of notes abandoned: 25 issues RBI needs you to realize how to go cashless now that Rs 500 Rs 1 000 notes are already scrapped A number of relaxations about the use of Rs 500 and also Rs a single 000 paperwork have been fond of account for specific situations such as pay the hospital bills move expenditure in addition to petrol pumping systems till December 11 2016. From November 10 2016 New notes of Rs 500 and Rs 2 000 will be introduced for circulation. Rs 2 000 notes shall be monitored and regulated by the RBI. The important that could oftimes be hit typically https://www.stage32.com/profile/575728/about the worst inside the short-term will be the bullion and also real estate since two cope with a lot of deals in funds. Read | Take a look at the revolutionary Rs 600 Rs 2100 notes to generally be circulated shortly Written by Harish Damodaran | Updated: The fall of 9 2016 7: forty-one am If told how the Rs 600 Rs thousands of notes on you will be pointless overnight until exchanged by using smaller denominations it would instantly translate into sizeable queues ahead of banks plus post office buildings. (Source: Reuters) Prime Minister Narendra Modi s declaration to refuse use of recent Rs 600 and Rs 1 000 notes because of this midnight found everyone by big surprise. Here s i9000 some speedy numbers about the implications on this move. As per Reserve Traditional bank of The indian subcontinent data the whole outstanding currency exchange in movement in the Native indian economy like on July 28 was standing at Rs 17. seventy seven lakh crore. We add t discover how much of the following comprises Rs 500 in addition to Rs one particular 000 insights. But an sign of actually could be can be found from the RBI s newest Annual Document. This records shows that out of your total Rs 16. 49 lakh crore value of traditional bank notes inside circulation like on Drive 31 2016 as much as Rs 14. 20 lakh crore i. age. over ninety per cent contains Rs 400 and Rs 1 000 notes. With regard to volumes out of your total 9026. 6 crore banknote parts 2 203 crore as well as 24 for every cent-plus have been of Rs 500 plus Rs just one 000 denomination. PM Modi scarps Rs 500 Rs 1000 notices: Here are often the highlights via his handle Simply put the particular de-monetisation with Rs five-hundred and Rs 1 000 notes and that is what Leading Minister Narendra Modi features announced you can do from Sunday night will mean more than Rs 15 lakh crore worthy of of high-value legal tender getting withdrawn out of circulation. Most likely the bulk of this may simply be lodged by men and women http://www.dance.net/u/offantivirus in finance institutions rather than always be exchanged intended for lower denomination notes: Downright replacement of 3 300 crore banknote parts will be a best logistical major problem. The people would you be actually hit are classified as the ones diagnosed with stored all their ill-gotten riches in the these days useless Rs 500 in addition to Rs just one 000 denomination notes. It will probably be virtually not possible for them to change all this income or even money these in banking companies as getting wads connected with Rs you 000 notices day after day will probably at some point suggest to questions with the taxman. Properly it means copy much of this specific black currency the form of stashed cash nugatory as there are restraints to often exchanging or perhaps depositing records whose price may go to crores regarding rupee. But for the Aam Aadmi there will be issues even. If the Rs 500 notices with him/her are looked at as worthless until re-deposited or maybe exchanged together with smaller denominations it would in any case translate into significant queues just before banks in addition to post practices. The short term disruption to be able to trade we live not chatting here involving just real estate investment transactions acquiring significant black color component yet even everyday purchases connected with vegetables as well as other essentials throughout markets normally dealing with funds may not be smaller. The American native indians Express On the net Media Pvt Ltd Tag cloud: Rs five-hundred Rs thousands of notes demonetised NEW DELHI: By midday Wednesday the exact BSE standard may have hauled over half the losses previously suffered sooner in the moment but value investors possessed lost a new whooping Rs 77 000 lakh crore on top twelve blue food bets like TCS Reliability Industries HDFC Bank ITC and ONGC. At 10. 15 pm hours the BSE Sensex seemed to be trading nine hundred points reduce at 28 691 over day ings low involving 25 902. By this right time the top 10 stocks had taken a big hit in terms of market capitalisation. TCS the largest detailed company with regards to market capitalization alone witnessed Rs 21 years of age 418 crore of riches erosion by means of 12. 18 am. At the right time of writing of this report the market-cap of the company stood at Rs 4. 28 lakh crore. HDFC the third largest firm by simply market-cap possessed taken your Rs being unfaithful 457 crore hit that will Rs two . 10 lakh crore. Infosys and ITC tanked up to 4 per cent. While ITC s m-cap fell by way of Rs 6 600 crore for Infosys the minimize was regarding Rs 7 406 crore. ONGC (down by Rs 6 844 crore) Reliability Industries (Rs 5 500 crore) Hindustan Unilever (Rs 4 912 crore) SBI (Rs 4912 crore) Fossil fuel India (Rs 3 916 crore) and also HDFC Traditional bank 3 300 crore) were being other prime stocks this took huge hits very own market prices. By: PARMI Economic Department | Brand-new Delhi | Published: Don't forget national 9 2016 1: 00 am Regardless of a decent increased the top path growth around profit within the operating stage remained moderate due to the rise in expenses. On Tuesday reported a 23 Interglobe Aviation which owns IndiGo Airlines. 6 percent year-on-year rise in its world wide web profit during Rs 139. september 30 on the back of increased revenues and other income 84 crore for the quarter ended. The biggest low-cost carrier of the http://besttodolistapp.suomiblog.com/best-to-do-list-apps-how-to-cope-with-distractions-when-working-the-home-business-768697 national country reported a 17. 90 per cent y-o-y increase in revenues on the relative back of a 32. 6 per cent upsurge in the number of people carried in those times compared with the identical period recently. The other income of the airline increased by 63. 14 per cent y-o-y Rs 168. 76 crore. Despite a reliable increase in the superior line growing in earnings at the performing level continued muted a result of the increase in expenditures. Fuel associated with the air travel during the 1 fourth increased by simply 25 percent y-o-y while aircraft renting increased simply by 28. 29 per cent y-o-y to Rs 772. 09 crore as a total result of the increase in fleet size. The no frills airline saw a rise in the employee cost as well also. Because of this the EBITDAR (earnings previous to interest income tax depreciation amortisation and plane rentals) greater by 10. 08 percent y-o-y for you to Rs 977. 43 crore. Due to increased capacity in addition to expenses the particular yield and also the revenue each seat km (RSK) lessened by 13. 1 percent to Rs 3. 35 compared with Rs 3. sixty-eight. We are very happy to report yet another profitable one fourth and a targeted visitors growth of thirty two. 7 percent and at the same time all of our cost removing from the total fuel possesses reduced by way of 32. 8 per cent even with operating in a great inflationary surroundings said Aditya Ghosh chief executive Interglobe Flying. The fast size of often the low-cost air fare now holders at 118 planes plus the aircraft relevant debt endured at Rs 2 742. 80 crore during the fraction. FE BRAND-NEW DELHI: Shree Cement about Monday described a 20. 3 percentage rise in it has the standalone world-wide-web profit with Rs 291. september 30 2016 as against Rs 246 5 crore for the quarter ended. a few crore online clocked inside the year-ago interval. Total standalone income of the ongoing company was up 17. half a dozen % during Rs 2254 crore inside the July-September one fourth this money compared to Rs 1915. several crore inside corresponding time previous money. Total bills in the fraction under overview was increased at Rs 2029. hunting for crore next to Rs 1743. 8 crore in the previous similar period. Purchase approving typically the unaudited July-September results the exact board regarding directors in addition cleared this company s business proposal to enhance it is cement delivering capacity for earnings investment regarding Rs 652 crore. Often the exercise that is funded by means of internal accruals involves establishing of new not one but two plants in addition to revising the ability expansion ideas. Elaborating Shree Cement officials said the ongoing company plans to set up a 3. half a dozen million centaines per annum (MTPA) grinding model at Sriganganagar in Rajasthan with an original plan to established a alternating unit. Full outlay in the project will be estimated from Rs 600 crore. Often the project is usually expected to end up being completed by simply April-June 2017-18. We have adjusted the business expansion plans regarding Bihar. Of expanding the exisiting cement grinding capacity from 3 Instead. 6 mtpa to 5. 6 mtpa we propose to set up a new 5 now. 5 mtpa unit around Bihar for the total expenditure of Rs 335 crore The undertaking is required to get accomplished by January-March 2017-18. The current capacity coming from 3. a few mtpa to be able to 4. some mtpa thru installation of joining equipment and also de-bottlenecking. The exercise will cost about Rs 17 crore said a ongoing company official. The company s produces 27 Presently. 2 mtpa of cement in plants spread across Rajasthan Uttarakhand Bihar Harayana Uttar and Chhattisgarh Pradesh. Besides within the power generation capacity involving 627 the mega watt (MW). NEW DELHI: Low-cost transporter IndiGo put up a web profit with Rs 139. 8 crore in the three months ended about September fifty 2016 in place 24% by Rs 113. 1 crore reported inside same time last economic. The LCC saw it is total detailed revenue go up to Rs 4 166. 9 crore in Q2 while past fiscal similar period the exact figure seemed to be Rs three or more 539. 93 crore. The particular increased gain came for back of better passenger earnings even as it has the total fees shot up that will Rs 5 090. a couple of crore inside Q2. With the quarter voyager revenues were being Rs three or more 597. in search of crore a raise of 18% while new revenues were being Rs 558. 4 crore a rise connected with 17. 7 percent compared with a similar period not too long ago the medical history said. We are pleased to report another profitable traffic and quarter growth of 32. 7%. Also our component cost taking out fuel features reduced simply by 9. 7 percent despite in an inflationary environment explained IndiGo whole-time director in addition to president Aditya Ghosh. Often the stock finished at Rs 924. on Tuesday down 0 50 on BSE. 3%. Of September IndiGo s total cash balance stood at Rs 6 857 At the end. 2 crore comprising Rs 2 386. 5 Rs and crore 4 470. six crore with restricted dollars. During the identical period the overall debt i visited Rs 3 742. 7 crore. Your entire debt to get IndiGo will be aircraft linked. IndiGo is deficient in any seed money debt often the airline mentioned in a BSE filing reported. IndiGo said it expects to have a fleet of 136 aircraft at the final end of the current financial year. It has 118 aircraft currently. The airline said it was impacted by operational issues arising out of A320 neo engines adversely.