Tag Archives: ‘Demonetisation

Tim Cook on Apple’s Plans to ‘Invest Significantly’ in India, Retail Stores, and Demonetisation

Apple reported strong holiday quarter earnings on Tuesday with both revenue and iPhone unit sales at record levels, and the profit just shy of the record numbers seen in the same quarter last two years. Revenues from all markets except China were at an all-time high as well, and this strong showing by Apple was also reflected in its India ... Read More »

Demonetisation Triggers 30.5 Percent Drop in Smartphone Sales in India: IDC

Owing to demonetisation and subsequent cash crunch, smartphone sales fell by a whopping 30.5 percent (month-on-month) in November over the October festive season, market research firm International Data Corporation (IDC) revealed on Tuesday. Indian vendors were hit most due to demonetisation with a drop of 37.2 percent in November as compared to Chinese players with 26.5 percent drop and global ... Read More »

Gionee Says Firm on Manufacturing Plans Post Demonetisation

Handset maker Gionee today said it is firm on its plans manufacturing mobile phones in India despite disruptions due to demonetisation. “Yes of course, we are committed to Make in India and planning to set up a manufacturing unit spread across 50 acres in Faridabad at a cost of Rs. 500 crores,” Gionee India CEO and Country Head Arvind Vohra ... Read More »

Can’t Give Info If Finance Minister Was Consulted Before Demonetisation

New Delhi: Whether views of the Chief Economic Advisor and the Finance Minister were taken before the sudden announcement of demonetisation of high-value currency notes by Prime Minister Narendra Modi on November 8? The Reserve Bank of India feels this query cannot be answered under the Right to Information Act as it does not comes under the definition of information ... Read More »

Demonetisation: RBI Seeks Details Of Fake Currency From Banks

Mumbai: To ascertain the amount of counterfeit currency, the Reserve Bank has asked all banks to send details of all fake notes detected during exchange and deposits of defunct old high-value notes post demonetisation. Banks are required to send details of fake currencies in three different dates, the first of which is December 16. The RBI in an advisory issued ... Read More »

Demonetisation: Sales Down 25-30 Percent, Says Micromax

Consumer sales have seen a 25-30 percent hit in past few weeks due to twin impact of demonetisation and seasonal slowdown post Diwali, country’s third largest handset maker Micromax said today. While online sales suffered due to cash crunch in the aftermath of demonetisation, the company’s supply chain saw a 15-18 percent decline in sales in the last few weeks. ... Read More »

Demonetisation: Ola Partners With Banks, Oil Companies to Help Drivers Go Cashless to Buy Fuel

Cab aggregator Ola on Wednesday announced that it has joined hands with leading banks and oil and gas companies to help driver-partners fight cash crunch post demonetisation of high value currency notes. In Bengaluru, Ola has partnered with BPCL to facilitate the process of obtaining fuel e-vouchers across all BPCL petrol pumps in the city, Ola said in a statement ... Read More »

Demonetisation: Rs. 500, 1000 Notes Should Be Allowed for Purchase of Mobiles, Says ICA

Mobile phone industry body Indian Cellular Association has asked the government to allow use of old Rs. 500 and Rs. 1000 notes for the purchase of handsets and claimed that their sales have come down by 50 percent due to cash crunch post demonetisation. In a letter to Finance Minister Arun Jaitley, the association said, “The mobile handset sales have ... Read More »

Demonetisation To Have Temporary Impact On Microfinance Institutions: India Ratings

Mumbai: The Centre’s decision to demonetise Rs. 500 and Rs. 1,000 currency notes may impact microfinance institutions (MFIs) and their borrowers on short term, with the latter likely to face high overdoes. The Narendra Modi-led government on November 8 had announced demonetising notes of Rs. 500 and Rs. 1,000 in a clampdown on black money and counterfeit notes. “(Post demonetisation) ... Read More »

Demonetisation To Impact Small Firms, Rural Demand: Tata Steel

  New Delhi: The government’s move to demonetise currency will impact the secondary steel sector as most of the business conducted by these mini mills and rolling factories is cash-based, which in turn would help the large producers, Tata Steel said. Counted among the top 10 steel makers globally, the Mumbai-based firm said that demonetising will also temporarily impact steel ... Read More »