Currency notes issued before to 2005 to be withdrawn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
June 23,2020

Bengaluru, June 23: A frustrated chartered accountant has committed suicide after killing his wife and mother-in-law in two different cities of India.

The murder-murder-suicide came amid acrimonious divorce proceedings that might have also involved a property dispute, police said.

Amit flew to Bengaluru last weekend to kill his estranged wife at her Whitefield residence before returning to Kolkata, where he shot dead his mother-in-law and then killed himself at an upscale residential complex in North Kolkata on Monday evening.

Amit and his wife Shilpi Agarwal, who is also a CA, had been living separately since last the two years after their marriage turned sour.

Amit took his 10-year-old son from Bengaluru with him on Monday and dropped him at his uncle’s house before heading to his in-laws’ place Phoolbagan, police said.

Neighbours told cops they heard arguments “appeared to be” over some property documents that Amit wanted his in-laws — 70-year-old Subhas and 62-year-old Lalita Dhandhania — to sign.

The first gunshot was heard a little before 6.30pm, following which Subhas ran out of his flat, bolted the door from outside and took refuge inside his next-door neighbour’s apartment. Police arrived a few minutes later to find Amit and his mother-in-law dead. Police found a suicide note from the flat.

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coastaldigest.com news network
April 30,2020

Newsroom, Apr 30: Beleaguered billionaire B R Shetty, who went into hiding after after a multi-billion fraud at UAE-based NMC Health came to light, has now put the blame on his companies employees.

The former chairman of the Abu Dhabi headquartered hospital operator said, investigations he commissioned found following things:

1. The fraudulent creation and operating of bank accounts in my name including many fraudulent transfers that I neither authorised, consented to, or had any knowledge of.

2. The fraudulent creation of loans, personal guarantees, cheques and bank transfers in my name, and using my forged signature, that I neither authorised, consented to, or had any knowledge of.

3. The creation and set-up of companies in my name that I neither authorised, consented to, or had any knowledge of, and that were seemingly created with the express intention to commit or conceal fraud.

4. The fraudulent creation of powers of attorney, and the misuse of existing powers of attorney, again in my name, that I that I neither authorised, consented to, or had any knowledge of.

5. The creation and provision to me of false and misleading financial statements and information regarding the performance of some of my private companies and investments by members of my own management team.

6. The payments of expenses using my private companies and personal bank accounts, I believe to hide the true financials of the public companies."

This is the first time Dr. Shetty, who is reportedly hiding in India for the last couple of months, issued a statement based on investigations he commissioned privately. He had brought in a consultancy to conduct it after initial revelations came to light that NMC Health had not been fully transparent with its finances.

Dr. Shetty had stepped down as executive chairman after the then Board of Directors barred him from attending any meetings. “I intend to work tirelessly to clear my name and assist any authorities in getting to the truth and help them ensure that misappropriated or missing funds are returned by the perpetrators to their rightful owners,” said Dr. Shetty.

This month, ADCB, which has the highest exposure among UAE banks to NMC Health, brought charges against five former officials, including ex-board of directors, with Abu Dhabi prosecution. The former CEOs of NMC Health and Finablr are also currently not in the UAE.

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Kannadiga
 - 
Thursday, 30 Apr 2020

Can he explain give few wordd about Daniel Varghese  the founder of UAE exchange.

Who is the person shattered his fate .

 

 

 

 

 

 

 

 

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coastaldigest.com news network
June 8,2020

Bengaluru, Jun 8: Karnataka recorded 308 new COVID-19 cases in the past 24 hours, with the majority of patients being domestic returnees, raising the state's tally to 5,760 an official said, here on Monday. "Over 308 new cases were reported from Sunday 5 pm to Monday 5 pm," said the health official.

Like everyday Maharashtra returnees accounted for 96 per cent (267 cases) of the 277 new cases. Majority infections in Karnataka nowadays are returnees, mostly from the state's northern neighbour.

A few returnees also came from Tamil Nadu, Telangana and Andhra Pradesh. There was one international returnee, a 23-year-old man from Dakshina Kannada, who came from the UAE. Only 24 new infections were contacts of earlier cases.

On Monday, cases spiked in Kalaburagi, Yadgir, Bidar, Udupi, Bengaluru Urban, Ballari and Gadag.

Among the new cases, Kalaburagi contributed (99), followed by Yadgir (66), Bidar (48), Udupi (45), Bengaluru Urban (18), Ballari (8), Gadag (6), Shivamogga and Dharwad (4 each), Hassan and Dakshina Kannada (3 each), Bagalkote (2) and Koppal and Ramnagar (1 each). Four patients are suffering from Influenza-Like Illness (ILI).

Meanwhile, record 387 patients got discharged in the past 24 hours. On Monday, three persons - A 67-year-old man, a 48-year-old woman and another 65-year-old woman, all from Bengaluru Urban, succumbed to coronavirus.

Of all the cases, 3,175 are active, 2,519 discharged, 64 dead and 14 in the ICU.

In the past 24 hours, Karnataka tested 8,779 people. Of this, 8,231 reports returned negative. A number of tests were lower than other days. In total, 3.93 lac samples have been tested so far, of which 3.8 lac have returned negative.

Currently, Udupi is leading the state's COVID-19 burden with 628 active cases, followed by Kalaburagi (539), Yadgir (488), Raichur (276) and Bengaluru Urban (176) among others.

Bengaluru Urban has accounted for 18 deaths, followed by Kalaburagi (7), Bidar, Vijayapura, Davangere and Dakshina Kannada (6 each) and Chikkaballapur (3 each), among others.

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