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Indian economy, financial sector stood strong, resilient amidst unprecedented global headwinds, Reserve Bank of India governor Shaktikanta Das says
A vacation bench of justices Sudhanshu Dhulia and K V Vishwanathan took note of the submissions for urgent hearing of lawyer Ashwini Updhyay, and said it will not be taking up such pleas during the summer vacation.
Central bank's annual report says new stress events in global financial system could pose downside risks to growth
The Reserve Bank of India (RBI) has defended before the high court its notification, saying it is not demonetisation but a statutory exercise.
Money exchangers said that none of the customers are willing to buy the Rs 2000 notes they hold.
The court was hearing a plea by lawyer Ashwini Kumar Upadhyay that the notifications by the RBI and SBI enabling exchange of Rs 2000 banknotes without proof were arbitrary and against the laws enacted to curb corruption.
Onmanorama answers some of the frequently asked questions about the exchange process of Rs 2000 notes.
Most of the Rs 2,000 notes that were withdrawn expected to be returned by September 30 deadline, says Shaktikanta Das
Public can exchange Rs 2,000 notes up to a limit of Rs 20,000 at a time without a requisition slip, State Bank of India said
The decision comes following the Reserve Bank of India's statement directing all banks to halt the circulation of Rs 2,000 currency notes.
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