Currency notes issued before to 2005 to be withdrawn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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 10,2020

Bengaluru, Jun 10: Internet connectivity, provided under the central government's BharatNet initiative, will be improved in rural areas of Karnataka in the next two to three months, said Deputy Chief Minister CN Ashwath Narayan.

After video conferencing with heads of different agencies and officials, on improving the quality of internet in rural areas, Ashwath Narayan said, "I reviewed the progress of the BharatNet implementation and the steps to be taken to improve the quality of internet connectivity in the next two to three months."

"We also discussed the possibility of giving the implementation of BharatNet to a different agency. We will seek permission from the central government and continue the project. We will ease communication with rural people by ensuring quality and high-speed internet to all Gram Panchayats," he added.

When BSNL officials and other agency representatives who attended the video conference shared their problems, the Deputy Chief Minister assured to solve them through proper coordination.

"Through BharatNet, several government schemes are being implemented in rural areas. Civic service centres are issuing birth and death certificates, Aadhaar cards and social security pensions among others. Of the total 6,000 Gram Panchayats in the state, 4,000 have high-speed internet connectivity, and the remaining will be provided with better internet connectivity through a new agency,'' said Ashwath Narayan.

Additional Secretary (e-governance) Rajeev Chawla, Additional Chief Secretary (IT-BT) EV Ramana Reddy, Principal Secretary (RDPR) Uma Mahadevan, Director (IT) Meena Nagaraj, Collegiate Education Director Pradeep and other senior officials were present in the meeting.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 20,2020

Bengaluru, Apr 20: Close on the heels of the Padarayanapura vandalism, Karnataka Cabinet on Monday decided to promulgate an ordinance that gives special powers to implementing authority and also provide protection to frontline health workers.

Briefing media after the Cabinet meeting here, Minister for Law J C Madhuswamy said that the ordinance will be on the lines of one promulgated by Kerala and Uttar Pradesh governments.

“Through the ordinance, a State Epidemic Act will be enacted to protect health workers and any non-cooperation will be punishable. Also, any attempt to deliberately spread the disease or float rumours will attract action,” he added.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 2,2020

Mangaluru, Jun 2: The Karnataka Muzarai department, whose main income comes through temple and other religious places of worship, has incurred a loss of Rs 600 Crore in revenue during the lock-down, Minister for Muzrai Kota Srinivas Poojary said on Monday.

Addressing reporters here, he said the Kollur Sri Mookambika temple alone lost revenue of about Rs 14 crore it was earning during April and May.

Around 300 A and B grade temples under Muzrai (Hindu religious institutions and charitable endowments) department in the State lost around 35 per cent of their annual income, he said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.