Government on Tuesday said sufficient cash is available with Reserve Bank of India and banks, and it is not considering extending the deadline of December 30 for deposit of invalid Rs 500 and Rs 1,000 notes.

The statement was made in the Rajya Sabha even as people queued up at banks to deposit old high value notes and withdraw new cash.

MUMBAI: The benchmark BSE Sensex climbed 109 points early on Tuesday after investors buying gained steam amid mixed Asian cues.

The 30-share index was trading higher by 108.84 points, or 0.41 per cent, at 26,459.01, with sectoral indices led by metal, oil & gas, PSU, consumer durables, capital goods and realty stocks trading in the positive zone, rising by up to 1.10 per cent.

New Delhi: Japanese automaker Suzuki Motor Corp. plans to invest Rs2,600 crore through its unit Suzuki Motor Gujarat (SMG), to build its second assembly plant in India and an engine and transmission unit.

The units, in Mehsana in Gujarat, will become operational in 2019 and serve Indian and export markets.

ICICI Bank on Monday announced an initiative to digitise 100 villages in as many days to enable smoother commercial transactions in the wake of demonetisation of high-value currency notes.

Managing director and chief executive Chanda Kochhar said, “This encompasses digitisation of transactions and commercial activities in the villages. It includes vocational training and formation of sustainable livelihood groups in the villages.

L&T Technology Services Limited (NSE: LTTS), a leading global pure-play Engineering R&D Services company, announced a partnership with the Centre for Nano Science and Engineering (CeNSE), Indian Institute of Science (IISc), Bangalore to jointly work towards innovations in the areas of Sensors and Energy Efficient Systems based on Nanotechnology.

The agreement was signed between CeNSE, IISc and L&T Technology Services at the IISc campus in Bangalore.

India’s fastest growing digital payments platform FreeCharge has announced that it has partnered with all the three Oil Marketing Companies in India and will soon be available at all petrol pumps of IOCL, BPCL and HPCL across the country. The list includes nearly 26,000 petrol pumps of IOCL, nearly 13,500 petrol pumps of HPCL and nearly 13,800 petrol pumps of BPCL.

Markets regulator Securities and Exchange Board of India (Sebi) on Monday issued a new framework for functioning of stock exchanges and clearing corporations that are setting up their operations in international financial services centres (IFSCs).

The Securities and Exchange Board of India (Sebi) said all categories of exchange-traded products currently available for trading in stock exchanges will be eligible for trading in bourses operating in IFSCs. However, this is subject to prior approval of the market watchdog.

New Delhi: The Employees’ Provident Fund Organisation (EPFO) will mandatorily seed all 81 million provident fund (PF) accounts with Aadhaar by 31 December to make its online transactions smoother and help track an employee if he/she switches jobs.

The move comes after Prime Minister Narendra Modi reviewed the functioning of EPFO sometime ago and asked it to become more user-friendly and make its online interface more robust.

NEW DELHI: The Centre on Monday tabled amendments to the Income Tax Amendment Bill in its bid to check large, unaccounted cash deposits post demonetisation.

According to reports, the government has proposed 30% tax on undisclosed income, along with 10% penalty and 33% surcharge.

Mumbai: Shares of banking stocks on Monday fell after the Reserve Bank of India (RBI) ordered banks to deposit extra cash with it. The move came in order to absorb over Rs5 trillion excess liquidity generated by the banks due to the government’s demonetisation scheme to curb black money and circulation of fake currency.

On Saturday, the RBI said that the banks need to transfer 100% of their cash under its cash reserve ratio (CRR) from deposits generated between 16 September to 11 November.

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