Currency notes issued before to 2005 to be withdrawn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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coastaldigest.com news network
May 29,2020

Mangaluru, May 29: Even as the thousands of Indian expatriates in Saudi Arabia are waiting for repatriation flights to return to India, a few NRI entrepreneurs are sending home their employees through chartered flights. 

The government of India on May 21 had formally approved the repatriation of stranded Indian expatriate workers through chartered flights arranged by their employing companies particularly in Gulf region and elsewhere. 

Expertise Contracting Co. Ltd headed by K S Sheik and Al-Muzain Est. headed by Zakaria Jokatte are among those who have hired charter flights to repatriate hundreds of employees to India amidst corona lockdown. 

Mr Sheik said that his firm had applied for nine charter flights. "Two of the charter flights will carry 360 people to Mangaluru. Seven other flights will repatriate employees to Delhi, Thiruvananthapuram, Chennai and Hyderabad," he said, adding that the company will bear complete expense of their repatriation and quarantine facility after India. 

Mr Jokatte three charter flights will fly from Dammam to Mangaluru International Airport on June 2, 5 and 8 carrying their employees.

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Saturday, 30 May 2020

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News Network
June 18,2020

Bengaluru, Jun 18: With Karnataka observing 'Mask Day' today, Chief Minister BS Yediyurappa said that the state has organised a walk from Vidhana Soudha to Cubbon Park to create awareness about the importance of wearing a mask as a preventive measure against COVID-19.

"We are celebrating 'Mask Day' at all district headquarters today. We have organised a walk from Vidhana Soudha (to Cubbon Park) to create awareness about the importance of wearing a mask as a preventive measure against COVID-19," Yediyurappa told media persons here.

Earlier, the Chief Minister has said that film actors and sports personalities will take part in the event and it will be celebrated in all taluks as well.

"We will take strict action against those who are not maintaining social distancing. A fine of Rs 200 will be imposed on those for not wearing a mask in public places," he had said.

As many as 7,530 people have detected positive for COVID-19 in Karnataka, of which 94 people have succumbed to the infection till date, as per the Union Health and Family Welfare Ministry.

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News Network
June 20,2020

Bengaluru, Jun 20: Amid calls for boycott of Chinese products in the backdrop of Indo-China border face-off, former Karnataka chief minister HD Kumaraswamy sought to know from the BJP government in Karnataka the status of the "Compete with China" policy brought during the previous JDS-Congress rule.

Boycotting Chinese products was not easy like sloganeering but required a creative policy and the coalition government's initiative was a model for it, he said in a series of tweets.

"After the border skirmish, some people got the realisation to boycott the Chinese products but during my tenure (as chief minister) a serious thought was given to it," the JDS leader said.

He was apparently referring to growing clamour for boycott of China-made products after a violent clash between Indian and Chinese troops in the Galwan Valley in Ladakh left 20 Indian Army personnel dead early this week.

Mr Kumaraswamy said he had brought the Compete With China policy to effectively deal with the neighbouring country.

"My government's objective was to offer jobs to the local residents, snatch away market opportunities for China and discard the Chinese products."

"However, what has the present government done to our scheme? It is not known whether it is still continuing or not," Mr Kumaraswamy said.

The Kumarswamy government had identified clusters and earmarked Rs 2,000 crore for their development.

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