In one of its reports, the Reserve Bank of India, on Wednesday revealed the demonetisation data that stated that 6.7 billion pieces of Rs 1000 notes, 89 million pieces didn’t come back. The apex bank added that 7.62 lakh pieces of counterfeit currency notes were detected in the financial year[Read More…]
Tag: RBI
New Rs 50 note seen in Mumbai before official release
Even before the Reserve Bank of India( RBI) released the new Rs 50 denomination notes, a man was seen in possession of them in Mumbai. The incident is seen as a matter of security breach. It is still not clear how and from where did the man get the notes.[Read More…]
Rs 200 notes to be issued on Friday: RBI
The new Rs 200 notes will be in circulation from Friday, the Reserve Bank of India (RBI) announced on Thursday. The Rs 200 denomination banknote in the Mahatma Gandhi (New) series will bear the signature of RBI Governor Urjit R. Patel and will be initially issued by select RBI offices[Read More…]
RBI likely to introduce Rs 200 notes by August end
The Reserve Bank of India (RBI) is set to introduce Rs 200 notes by end of August or early September, as reported by Economic Times. The Rs 200 notes aim to bridge the gap between Rs 100 and Rs 500 notes. As quoted by a source of the Economic Times,[Read More…]
How PM Modi got demonetisation figures when RBI is still counting?
The Congress party on Wednesday took a jibe at PM Modi over the figures quoted in his Independence Day speech on demonetization asking him how he knew that Rs 3 lakh crore had come into the banking system when the RBI was still counting seized notes. “The Prime Minister said[Read More…]
Rs 200 notes to hit market by Deepawali
The finance ministry had given the go-ahead to print Rs 200 notes in July. It was also said that the Rs 2,000 were no longer being printed in a bid to push more of the Rs 200 notes into the market. Rs 200 note will be smaller in size and[Read More…]
No more printing of Rs 2000 notes by Reserve Bank of India
It is reported that The Reserve Bank of India stopped printing Rs 2000 notes in March this year. The federal bank is also not likely to print any more Rs 2,000 notes in the current financial year. The RBI, meanwhile, has shifted its focus on printing the newly approved denomination of[Read More…]
A single sentence from the Essar verdict can ruin Urjit Patel’s war against loan defaulters
Even though Raghuram Rajan, former RBI governor, co-wrote the influential 2003 book, “Saving Capitalism From the Capitalists,” it has fallen upon his successor at the Reserve Bank of India to actually attempt such a thing. By the looks of it, Urjit Patel has a hard slog ahead. For now, the[Read More…]
RBI to introduce Rs 200 notes; printing order has been placed
In a first such move, the Reserve Bank of India (RBI) will soon introduce Rs 200 notes. Reportedly, the printing order for the new Rs 200 notes has been placed already. Recently, reports surfaced that Reserve Bank of India has cleared a proposal to introduce new lower denomination currency notes[Read More…]
GST to reduce tax burden: Urjit Patel
On Thursday, the Reserve Bank Governor Urjit Patel said that to be implemented goods and services tax (GST) will not only create a national market but will also broaden the tax base which in turn will lower the overall taxes in the long-term. “The prudent point is that GST itself[Read More…]
RBI introduces ‘Financial literacy programme’ to educate masses
In order to create awareness about financial literacy, Reserve Bank of India (RBI) has decided to observe ‘Financial Literacy week’ every year. RBI will reach out to people, especially in rural areas and will educate them on financial matters. Regional Director, Amarnath, said, “The week will be observed from June[Read More…]
Manmohanomics comes true, GDP slows down post demonetisation
India’s Gross Domestic Product (GDP) witnessed a sharp slowdown of 6.1% in Q4 from 7% in the previous quarter, said the data released by the government on Wednesday. Over the quarters of FY2017, GDP growth has spotted a downtrend from 7.9% in Q1 to 7.5% in Q2 to 7.0% in[Read More…]
75 per cent currency back in circulation: RBI
Post the demonetisation move that came with its fair set of pros and cons, the market is back to running on currency notes now. But only 75 per cent of the currency is back in circulation, as per a recent statistical data released by the Reserve Bank of India( RBI).[Read More…]
RBI to issue new ₹5 and ₹10 coins
The Reserve Bank of India is soon to issue new Rs 10 and Rs 5 coins to honor the 125th year of National Archives of India. In order to celebrate the 150th anniversary of Allahabad High Court, the central bank will put new Rs 5 coins into circulation. As per[Read More…]
RBI gets govt nod to print Rs 10 plastic notes
No proposal to withdraw Rs 2000 currency notes, says Jaitley
Finance Minister Arun Jaitley on Friday said there is no proposal to withdraw the Rs 2,000 notes that were introduced post-demonetisation. The Rs 2,000 banknotes were introduced along with new Rs 500 currency following the withdrawal of old Rs 500 and Rs 1,000 notes from November 9, 2016. “There is[Read More…]
‘It costs Rs 2.87 and Rs 3.77 to print new currency notes’
No cash withdrawal limit on savings accounts
Centre opposes petitions questioning the restrction on depositing banned notes
The central government on Friday opposed in the Apex Court petitions that challenged the Centre’s decision to restrict the deposit of demonetised currency till December 30, 2016. However, it is to be noted that the Prime Minister had earlier said that old notes could be deposited till March 31, 2017. Attorney[Read More…]
New Rs 10 notes coming soon
Demonetisation to impact GDP in this quarter: RBI
Culprit who sent threat mail to RBI Governor arrested
RBI sets up a committee to review cyber threats
No plans to introduce Rs 1,000 notes, says government
The government has no intentions of introducing new currency of Rs 1000 denomination, confirmed economic affairs secretary Shaktikanta Das in a tweet. He also added that he added that government is rather focusing on the production and supply of Rs 500 currency notes and those of lower denomination. In a[Read More…]
Rs 1,000 note will be back, but we don’t know when
RBI is set to launch a new series of Rs 1,000 notes soon. These new notes will successfully replace the earlier note of Rs 1,000 which were seized during the demonetisation drive reported a senior government to The Indian Express. The Indian Express. As per the official the Reserve Bank of[Read More…]