Currency notes issued before to 2005 to be withdrawn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
July 3,2020

Bengaluru, Jul 3: Opposition leader in the Karnataka Legislative Assembly and former Chief Minister Siddaramaiah on Friday opined that there is no other option left but to resort to 'Jail Bharo' agitation to expose the ruling BJP government's indulge in 'Corona Corruption' which runs into more than Rs 2000 crore.

Siddaramaiah said that according to a submission to the Karnataka High Court the government has submitted that it has incurred Rs 3,392 crore expenditure for Corona in the State so far. While the market price for equipment purchased will not exceed Rs 1163 crore and it clearly shows that the corruption is to the tune of Rs 2,000 crore.

Siddaramaiah speaking to a private TV channel here on Friday said the chief minister B S Yediyurappa-led State government should come out with a White Paper on the money spent for purchases made facilities provided to patients. 

According to submission to the Court, the Government has purchased 1000 Ventilators by paying Rs 120 crore, while the market price is Rs 40 crores at Rs 4 lakh for each Ventilator. Why is Rs 120 crore more paid, does it not lead to doubt the government's claim. For purchase of kits, mask, gloves etc. it amounted to Rs 1,500 crores but paid by the government was Rs 9,000 crore."

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coastaldigest.com news network
July 26,2020

Udupi, Jul 26: Two persons including a lady doctor have been arrested by the Kaup police in Udupi district for trying to use fake salary documents to avail loan from a bank to buy a car. 

According to police, on July 24, the doctor had visited Bank of Baroda's branch office at Kaup Moodabettu. She had approached the branch manager for a car loan for herself and her brother. She claimed that her monthly salary is Rs 2.66 lakh.

The bank verified the details furnished along with the loan application. The bank found that even though the doctor had furnished salary slips of Manipal Academy of Higher Education, she was presently not employed there.

The bank manager has filed a complaint at Kaup police station, accusing the doctor of trying to cheat the bank by availing loan on the basis of fake documents.

The police registered a case and nabbed her when she visited the Katapady branch of the same bank today. The police also arrested a man, who according to the doctor, created fake documents for her.

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News Network
February 7,2020

Mangaluru, Feb 7: In an attempt to promote menstrual hygiene among women, the Karnataka State Road Transport Corporation (KSRTC) has installed vending machines and incinerators to dispense and dispose off sanitary napkins at 10 bus stands of the state including Mangaluru.

The machines have been installed inside the women's washroom and women can purchase sanitary napkins from the vending machines by inserting five rupee coins.

Nearly 100 napkins can be stored in the vending machines at a time and housekeeping personnel have been instructed to replenish the stock, as and when required.

While directions on how to use the machine have been displayed near the machines, people can get seek assistance from housekeeping staff if needed.

Initially, the machines were installed at two depots in Bengaluru on a pilot basis and in the second phase it has been extended to 10 KSRTC bus depots.

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