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The Bhartiya Reserve Bank Note Mudran (P) Limited, a wholly owned subsidiary of the Reserve Bank of India (RBI), claimed that the printing of currency and related activities cannot be shared with people as it will result in "proliferation of counterfeit currency and economic chaos, it observed.
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Based on source information, the CBI had carried out a surprise check in the Civil Lines branch of State Bank of India in Uttar Pradesh's Bareilly on January 2.
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Customs officials have registered a few cases, where demonetised banknotes were sent abroad by courier, and seized over Rs 1 lakh in such notes, a senior official said today.
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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.
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In a series of tweets, Economic Affairs Secretary Shaktikanta Das said the focus is on increasing production and supply of Rs 500 and lower denomination currencies, while complaints of cash shortage are being looked into.
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Last week, Finance Minister Arun Jaitley said the remonetisation situation with regard to replenishing the scrapped currency is "almost normal" now and the Reserve Bank is monitoring the supply on a daily basis.
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The Lok Sabha today passed a bill which makes holding of more than 10 old notes of Rs 500/1000 denomination punishable with a minimum fine of Rs 10,000, with the government saying the aim was to check parallel economy using the scrapped notes.
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The design of new banknotes of Rs 500 and Rs 2000 denominations was approved at the May 19, 2016 meeting of the Central Board of RBI, an RTI query has revealed.
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The report said that on account of non-availability of cash post demonetisation, the borrowers were not in a position to service their loans which led to delay and drop in collection rates.
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Government sources today revealed that deposits close to Rs 15 lakh crore is back in the banking system up to December 31, 2016.
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Following the tough decision to demonetise Rs 500 and Rs 1000 currency notes, Prime Minister Narendra Modi today thanked citizens for undertaking a yagna (sacrifice) to cleanse the economy of black money
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On the eve of New Year, all eyes in the country will be glued to Prime Minister Narendra Modi's televised address to the nation at 7.30 pm.
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With the 50-day period window for exchanging/depositing old notes of Rs 500 and Rs 1000 getting over on December 30, here‘s a look at all the steps taken by the Reserve Bank of India to ensure enough cash is available in the banking system
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Making a pitch for cashless transactions, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan today said there has been a phenomenal growth of about 25 per cent in digital payments for buying petroleum products at petrol pumps across the country post demonetisation.
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The Cabinet today approved promulgation of an ordinance to impose a penalty, including a jail term, for possession of the scrapped 500 and 1,000 rupee notes beyond a cut-off.
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Bhartiya Reserve Bank Note Mudran
Private Limited (BRBNMPL) is printing each new Rs 500 note at
the old cost of Rs 3.09, while the cost of Rs 2,000 currency
note is Rs 3.54.
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In a clarification, the RBI said these specified bank notes (SBNs) would also include pre-2005 banknotes in the denominations of Rs 500 and Rs 1,000.
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Since the ban of high-value currency notes on November 8, close to Rs 14 lakh crore is back in the banking system, said sources.
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Prospects of interest rate cut in
near future may be bleak due to factors like continuous
pressure on rupee against dollar, firming of the US rates and
hardening of crude oil prices, according to a report.
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Observing that the Centre was sensitive enough to the situation, a bench headed by the Chief Justice of India T.S. Thakur said the government will consider and take appropriate decision from time-to-time to ease the hardships being faced by the people.
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Yesterday, the court had said that the Centre should adhere to its notification that allowed withdrawal of Rs 24,000 per week from bank accounts after demonetisation of high-value currency notes.
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It has been felt necessary to put in place an appropriate reporting system to keep track of issuance of these banknotes by the currency chests, RBI said in a statement.
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Pawar, however, refrained himself from launching a direct attack on Modi, even as his nephew and party stalwart Ajit Pawar took a dig at the Prime Minister for calling himself a "fakir", at a gathering of NCP workers here with his uncle in attendance.
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All toll plazas on National Highways have been equipped with card swipe (PoS) machines through which people can make payments using their credit or debit cards, although people will be allowed to use old 500 notes for paying toll above Rs 200 or for purchasing FASTags from midnight of December 2.
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Amid salary day blues, Mamata Banerjee today alleged her state West Bengal and some others were being discriminated against in supply of new currency notes and demanded that RBI furnish details of bills distributed to each state.
