Tag: currency notes

  • Rs 2000 note exchange begins today

    Express News Service

    MUMBAI:  A day before the Reserve Bank of India opens the window for exchange of Rs 2,000 denomination currency notes, RBI governor Shaktikanta Das on Monday dismissed rumours of a new Rs 1,000 currency note being in the works. “There’s no such proposal right now,” he told reporters here on Monday in his first media interaction after the decision to withdraw the highest denomination note from circulation last Friday.

    As the window for customers to exchange Rs 2,000 notes in their possession will start on Tuesday, Das said there is no need to panic. Urging the public not to rush to banks, he said enough time has been given to exchange the notes. He reiterated the notes will remain legal tender (valid for transaction). The RBI governor’s comments came after reports said people and businesses have stopped accepting Rs 2,000 notes as a mode of payment.

    “Let me clarify and re-emphasise that it is a part of the currency management operations of the Reserve Bank. For a long time, the Reserve Bank has been following a clean note policy,” he said, adding: “From time to time, RBI withdraws notes of a particular series and issues fresh notes. We are withdrawing the Rs 2,000 notes from circulation but they continue as legal tender.”

    He expects most of the notes to be returned to the exchequer by the deadline of September 30 and no scarcity of other notes. “We have given a deadline so that the process will be taken seriously. We can’t leave it open-ended,” he said.

    RBI has urged the public to exchange or deposit these notew by September 30. “We have more than adequate quantities of printed notes already available in the system, not just with RBI but with currency chests operated by banks. There is no reason for worry. We have sufficient stocks, no need to worry,” Das clarified.

    The impact of the withdrawal on the economy will be “very very marginal”, he said, adding Rs 2,000 currency notes made up for just 10.8% of the total currency in circulation. While the withdrawn Rs 2,000 rupee notes can either be deposited in bank accounts or exchanged for other denomination notes, banks have been advised to make necessary arrangements for exchange.

    MUMBAI:  A day before the Reserve Bank of India opens the window for exchange of Rs 2,000 denomination currency notes, RBI governor Shaktikanta Das on Monday dismissed rumours of a new Rs 1,000 currency note being in the works. “There’s no such proposal right now,” he told reporters here on Monday in his first media interaction after the decision to withdraw the highest denomination note from circulation last Friday.

    As the window for customers to exchange Rs 2,000 notes in their possession will start on Tuesday, Das said there is no need to panic. Urging the public not to rush to banks, he said enough time has been given to exchange the notes. He reiterated the notes will remain legal tender (valid for transaction). 
    The RBI governor’s comments came after reports said people and businesses have stopped accepting Rs 2,000 notes as a mode of payment.

    googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });

    “Let me clarify and re-emphasise that it is a part of the currency management operations of the Reserve Bank. For a long time, the Reserve Bank has been following a clean note policy,” he said, adding: “From time to time, RBI withdraws notes of a particular series and issues fresh notes. We are withdrawing the Rs 2,000 notes from circulation but they continue as legal tender.”

    He expects most of the notes to be returned to the exchequer by the deadline of September 30 and no scarcity of other notes. “We have given a deadline so that the process will be taken seriously. We can’t leave it open-ended,” he said.

    RBI has urged the public to exchange or deposit these notew by September 30. “We have more than adequate quantities of printed notes already available in the system, not just with RBI but with currency chests operated by banks. There is no reason for worry. We have sufficient stocks, no need to worry,” Das clarified.

    The impact of the withdrawal on the economy will be “very very marginal”, he said, adding Rs 2,000 currency notes made up for just 10.8% of the total currency in circulation. While the withdrawn Rs 2,000 rupee notes can either be deposited in bank accounts or exchanged for other denomination notes, banks have been advised to make necessary arrangements for exchange.

  • Bundles of currency notes found floating in Bihar drain

    By IANS

    PATNA: What would you do if bundles of currency notes are dumped in bulk in a drain? A similar thing happened in Bihar’s Rohtas district where a number of people fished out currency notes from a drain in Moradabad village on Saturday.

    A video of the incident went viral on social media where a number of people could be seen entering the drain and collecting currency notes in the denomination of Rs 2,000, Rs 500, Rs 100 and Rs 10.

    The local villagers claimed that early in the morning, they saw bags containing currency notes inside the drain. Soon, a large number of people jumped in and started collecting the notes. They also claimed that the notes were genuine.

    The district administration is probing if the currency notes are genuine and who dumped them in the drain.

    PATNA: What would you do if bundles of currency notes are dumped in bulk in a drain? A similar thing happened in Bihar’s Rohtas district where a number of people fished out currency notes from a drain in Moradabad village on Saturday.

    A video of the incident went viral on social media where a number of people could be seen entering the drain and collecting currency notes in the denomination of Rs 2,000, Rs 500, Rs 100 and Rs 10.

    The local villagers claimed that early in the morning, they saw bags containing currency notes inside the drain. Soon, a large number of people jumped in and started collecting the notes. They also claimed that the notes were genuine.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });

    The district administration is probing if the currency notes are genuine and who dumped them in the drain.

  • Kejriwal writes to PM Modi, reiterates demand for Lakshmi-Ganesh photos on currency notes

    By PTI

    NEW DELHI: Delhi Chief Minister Arvind Kejriwal, who created a political flutter with his appeal to incorporate images of Goddess Lakshmi and Lord Ganesha on currency notes, has written a letter to Prime Minister Narendra Modi pushing forward the demand.

    Claiming that the Indian economy was not in good shape, Kejriwal had on Wednesday said the country needed a lot of effort to get the economy back on track along with the “blessings of our gods and goddesses”.

    It’s a wish of 130 crore Indians that there should a picture of Mahatma Gandhi on one side of currency notes and the photos of Lord Ganesha and Goddess Lakshmi on the other side, he wrote in the letter on Thursday.

    “Tremendous support has been received on this issue.

    There is massive enthusiasm among the people and everyone wants this to be implemented immediately,” Kejriwal claimed.

    The Aam Aadmi Party (AAP) convener said in the letter that Indian economy is passing through a very bad phase and India and is listed among developing countries despite 75 years of Independence.

    “On the one hand, all countrymen need to work hard and on the other, we also need blessings of the deities so that our efforts bear fruits,” Kejriwal wrote.

    The country will progress only with a confluence of correct policy, hard work and blessings of the gods, he said.

    Kejriwal’s demand has evoked sharp reactions from the Bharatiya Janata Party (BJP), which called it an unsuccessful attempt to hide the “ugly anti-Hindu face” of the AAP in view of upcoming elections in Gujarat and Himachal Pradesh.

    PTI VIT RHL 10281117 NNNN

    NEW DELHI: Delhi Chief Minister Arvind Kejriwal, who created a political flutter with his appeal to incorporate images of Goddess Lakshmi and Lord Ganesha on currency notes, has written a letter to Prime Minister Narendra Modi pushing forward the demand.

    Claiming that the Indian economy was not in good shape, Kejriwal had on Wednesday said the country needed a lot of effort to get the economy back on track along with the “blessings of our gods and goddesses”.

    It’s a wish of 130 crore Indians that there should a picture of Mahatma Gandhi on one side of currency notes and the photos of Lord Ganesha and Goddess Lakshmi on the other side, he wrote in the letter on Thursday.

    “Tremendous support has been received on this issue.

    There is massive enthusiasm among the people and everyone wants this to be implemented immediately,” Kejriwal claimed.

    The Aam Aadmi Party (AAP) convener said in the letter that Indian economy is passing through a very bad phase and India and is listed among developing countries despite 75 years of Independence.

    “On the one hand, all countrymen need to work hard and on the other, we also need blessings of the deities so that our efforts bear fruits,” Kejriwal wrote.

    The country will progress only with a confluence of correct policy, hard work and blessings of the gods, he said.

    Kejriwal’s demand has evoked sharp reactions from the Bharatiya Janata Party (BJP), which called it an unsuccessful attempt to hide the “ugly anti-Hindu face” of the AAP in view of upcoming elections in Gujarat and Himachal Pradesh.

    PTI VIT RHL 10281117 NNNN

  • Include photos of Lakshmi and Ganesha on currency notes: Kejriwal’s appeal to PM

    By PTI

    NEW DELHI: Delhi Chief Minister Arvind Kejriwal on Wednesday appealed to Prime Minister Narendra Modi to have photos of Lord Ganesha and Goddess Lakshmi on currency notes.

    During a media briefing, he said the photos of Ganesha and Lakshmi could be printed on fresh currency notes.

    He added that the new notes could have a picture of Mahatma Gandhi on one side and of the two deities on the other.

    “Despite making efforts, sometimes our efforts do not fructify if gods and goddesses are not blessing us. I appeal to PM (Modi) to have photos of Lord Ganesha and Goddess Laxmi on our currency (notes).

    “If there is a photo of Lakshmi-Ganesha on our currency (notes), our country will prosper. I will write to (the) prime minister in a day or two on this,” he said.

    WATCH |

    He cited the example of Indonesia, a Muslim nation, that has a picture of Ganesha on its currency note.

    “When Indonesia can, why can’t we? The photos can be printed on fresh (currency) notes,” he said.

    ALSO READ | Which is the only country that had Lord Ganesha on its currency note? Hint: not India!

    Lamenting the fact that the India economy was not in a good shape, he said the country was passing through a delicate situation with the rupee depreciating against the US dollar.

    “We all want India to be rich and every family here to be prosperous. We have to open schools and hospitals on a large scale,” he added.

    Kejriwal also said the Aam Aadmi Party was fully prepared for the Municipal Corporation of Delhi polls and stressed that the people of the national capital would reject the BJP.

    He also challenged the BJP to cite one good work it had done in Gujarat, where it has run a government for the last 27 years.

    “All demonic powers aligned against us,” Kejriwal said on the upcoming polls in Gujarat. The Delhi chief minister also lauded the efforts of Delhi residents for the decline in the city’s pollution levels.

    “We are still not satisfied. We want to make Delhi the city with the cleanest air,” he said.

    NEW DELHI: Delhi Chief Minister Arvind Kejriwal on Wednesday appealed to Prime Minister Narendra Modi to have photos of Lord Ganesha and Goddess Lakshmi on currency notes.

    During a media briefing, he said the photos of Ganesha and Lakshmi could be printed on fresh currency notes.

    He added that the new notes could have a picture of Mahatma Gandhi on one side and of the two deities on the other.

    “Despite making efforts, sometimes our efforts do not fructify if gods and goddesses are not blessing us. I appeal to PM (Modi) to have photos of Lord Ganesha and Goddess Laxmi on our currency (notes).

    “If there is a photo of Lakshmi-Ganesha on our currency (notes), our country will prosper. I will write to (the) prime minister in a day or two on this,” he said.

    WATCH |

    He cited the example of Indonesia, a Muslim nation, that has a picture of Ganesha on its currency note.

    “When Indonesia can, why can’t we? The photos can be printed on fresh (currency) notes,” he said.

    ALSO READ | Which is the only country that had Lord Ganesha on its currency note? Hint: not India!

    Lamenting the fact that the India economy was not in a good shape, he said the country was passing through a delicate situation with the rupee depreciating against the US dollar.

    “We all want India to be rich and every family here to be prosperous. We have to open schools and hospitals on a large scale,” he added.

    Kejriwal also said the Aam Aadmi Party was fully prepared for the Municipal Corporation of Delhi polls and stressed that the people of the national capital would reject the BJP.

    He also challenged the BJP to cite one good work it had done in Gujarat, where it has run a government for the last 27 years.

    “All demonic powers aligned against us,” Kejriwal said on the upcoming polls in Gujarat. The Delhi chief minister also lauded the efforts of Delhi residents for the decline in the city’s pollution levels.

    “We are still not satisfied. We want to make Delhi the city with the cleanest air,” he said.