Currency notes issued before to 2005 to be withdrawn

January 22, 2014

New Delhi, Jan 22: The Reserve Bank of India (RBI) on Wednesday decided to withdraw all currency notes issued prior to 2005, including Rs 500 and Rs 1,000 denominations, after March 31 in a move apparently aimed at curbing black money and fake currencies.

currency

"After March 31, 2014, it (RBI) will completely withdraw from circulation all bank notes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes," the RBI said in a statement.

The public can easily distinguish the currency notes issued before 2005 as they do not have the year of printing on reverse side. The year of printing in a small font is visible at the middle of the bottom row in notes issued after 2005.

Asking people not to panic and cooperate in the withdrawal process, the RBI said old notes will continue to be legal and can be exchanged in any bank after April 1.

"From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication," the RBI said.

From July 1, 2014, persons seeking exchange of more than 10 pieces of Rs 500 and Rs 1,000 notes will have to furnish proof of identity and residence to the bank.

Although the RBI did not give any reason for withdrawal of pre-2005 currency notes, the move is expected to unearth black money held in cash.

As the new currency notes have added security features, they would help in curbing the menace of fake currency.

At present, currency notes in denominations of Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 500 and Rs 1,000 are issued.

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News Network
February 3,2020

Feb 3: The Karnataka government is probably the only state to have so many nodal agencies to deal with investment proposals. There is the KIADB, Karnataka Udyoga Mitra, State High Level Clearance Committee (SHLCC), State Level Single Window Clearance Committee (SLSWCC) and District Level Single Window Clearance Committee.

While the government claims these have been created to speed up the process of setting up industries, they’re only delaying it. “A four-to-five year delay in acquiring land has become the norm,’’ say industry sources.

“These entities are only adding layers of obstacles to investors and is not really helping industries,” said a senior IAS officer.

While DLSWCCs are headed by deputy commissioners are empowered to clear investment proposals up to Rs 15 crore, SLSWCC, headed by the industries minister, clears proposals more than Rs 15 crore and up to Rs 500 crore. Proposals worth more than Rs 500 crore have to be cleared by SHLCC chaired by the CM. These entities have to meet regularly and clear proposals. But often, these meetings don’t happen as scheduled. “The delay starts from here,” said Vasant Ladava, industrialist and member of Karnataka Industries and Commerce, Bengaluru.

The single-window agencies involving representatives of departments like industries, revenue, pollution control board and forest are supposed to collectively give necessary clearances required for industries. “But, of late, they have become only project approvers without other responsibilities, leaving investors in the lurch,” said Ladava.

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News Network
January 19,2020

Alappuzha, Dec 19: A Hindu couple, Anju and Sharath tied the knot at Cheruvally Muslim Jamaath Committee situated in Alappuzha district of South Kerala on Sunday.

The marriage took place as per Hindu rituals.

DH had earlier reported that the Jamaath Committee will conduct the marriage ceremony considering the request of the bride's mother, who hailed from a financially weak background.

Kerala Chief Minister Mr Pinarayi Vijayan shared the picture of the marriage on his social media post citing it as yet another instance of communal harmony in Kerala.

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News Network
April 30,2020

Bengaluru, Apr 30: The Karnataka government on Thursday decided to allow migrant workers, tourists, students and others stranded in different parts of the state due to the ongoing lockdown to return to their native places, a day after the Centre issued guidelines for the process.

This will be a one-time movement and the government would arrange buses for those in need but they should bear the expenses, Law and Parliamentary Affairs Minister J C Madhuswamy said. He also said people willing to return to the state would have to undergo tests for COVID-19. The decision was taken at the state cabinet meet and it might come into effect from Friday as the Chief Secretary will have to issue an official order, he said.

"Prime Minister Narendra Modi had taken decision on movement of people and the Centre had issued a circular in this regard. Following this we have decided to permit interstate and inter-district movement," he told reporters here.

Travel expenses should be borne by those willing to return and if they want the government can provide buses from the state transport corporations. The Union Ministry of Home Affairs on Wednesday issued orders allowing migrant workers, tourists, students and other people stranded in different parts of the country to move to their respective destinations with certain conditions, giving a big relief to the distressed people. Decision on opening of salons and liquor shops will be taken after May 3, he said.

Madhuswamy said permission would be given for one-time movement of labourers and others who want to go from one district to other for work or any other purpose. Those operating industry or establishment and want to move from place to place for management purpose will be given passes with strict scrutiny and through checks.

Responding to a question, the minister said, "we don't know yet how many are willing to go, where they will go, if some one asks for permission, we will permit." "One family or two or three people want to go, they can use taxi. If too many people want to go, we will provide facility through transport corporation buses," he said.

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