In order to solve the confusion regarding cash payment, the Central Board of Direct Taxes (CBDT) clearly mentioned when it is needed to report
Now, the Reserve Bank of India (RBI) has decided to revoke the circular regarding ₹5000 deposit limit.
If anyone wants to deposit more amount than ₹5000, the account holder should do so under the Pradhan Mantri Garib Kalyan Yojna.
The RBI has been planning to introduce plastic currency for many years in the country after a field trial.
In the first meeting in October, RBI cut the repo rate. That is the short-term lending rate.