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New Rs 200 notes not to be dispensed through ATMs?

Agencies
July 5, 2017

New Delhi, Jul 5: The Reserve Bank is expected to introduce Rs 200 notes in the coming months to ease pressure on lower-denomination currencies that are in short supply.Rs-200

The new notes of Rs 200 should be out before the end of 2017 and will greatly help in narrowing the demand and supply gap in smaller-denomination currency bills, sources said.

They also said that there is no immediate plan to re- introduce Rs 1,000 notes.

However, as per fresh reports in the media, the new Rs 200 notes will not be dispensed through ATMs. Rather they will only be circulated via bank branches like that in the case of Rs 10, Rs 20 and Rs 50 currency notes.

Last year in November, the government had demonetised the old 500 and 1,000 rupee notes.

Soon, a notification may be issued by the Reserve Bank of India with regard to issuance of new Rs 200 bills.

This exercise of printing Rs 200 denomination notes is being undertaken to further improve the currency situation in the country, sources said, adding the problem people are facing due to high-value Rs 2,000 notes would also be taken care of with the circulation of Rs 200 notes.

The central bank had reportedly decided to bring in Rs 200 notes in March after consulting the finance ministry, they said. The notes are going through multiple checks for security and quality at government printing presses.

The shortage of currency notes was trigged by the scrapping of high-denomination bills last year.

In a surprise announcement, Prime Minister Narendra Modi announced scrapping of old notes of Rs 1,000 and Rs 500 notes, wiping out over 85 per cent of the cash in circulation.

The move was aimed at checking black money, counterfeit notes and terror financing.

Pradhan Mantri Garib Kalyan Yojana (PMGKY) launched following the closure of 50-day demonetisation period did not draw a good response with only Rs 5,000 crore unaccounted income being declared under the amnesty scheme.

The scheme was launched in December last year to enable people with black money to come clean by paying tax and penalty of 50 per cent.

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coastaldigest.com news network
July 30,2020

Mangaluru, July 30: Medical doctor turned IAS officer K V Rajendra assumed charge as the 130th deputy commissioner of Dakshina Kannada district here today.

The 2013 batch Karnataka cadre officer succeeds Sindhu B Rupesh, who was transferred as Director of Electronic Delivery of Citizen Services (EDCS), Bengaluru. The outgoing DC welcomed the new DC in the presence of staff. 

Dr Rajendra said that he expects cooperation from all stakeholders in administering the district, amidst the mounting Covid-19 cases.

Rajendra, an alumnus of JJM Medical College, Davanagere, was serving as the CEO of Belagavi zilla panchayat before being posted as DC of this coastal district. 

Having served as assistant commissioner of Puttur sub-division for nearly a year from December 2015, Dr Rajendra, hails from Thirthahalli in Shivamogga district, had his probationary training in Bidar. He posted as CEO of Ballari ZP where he worked for nearly three till 21, 2019.

He also had a brief stint as assistant secretary in the department of fertiliser with the ministry of chemicals and fertilisers.

Sindhu who was the CEO of Udupi zilla panchayat had succeeded Sasikanth Senthil, who resigned from the Indian Administrative Service on September 6, 2019. She had taken charge on September 7, 2019.

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coastaldigest.com news network
July 7,2020

Bengaluru, Jul 7: Vasudeva Maiya, former CEO of Sri Guru Raghavendra Co-operative Bank, was found dead in his car in Bengaluru on July 6.

The Subramanyapura police have begun an investigation into Vasudeva Maiya's death.  Source said that he committed suicide. He was a native of Kota in Udupi district.

The car was found parked a little away from Maiya's house at around 6.30 pm on July 6.

The Reserve Bank of India (RBI) had in January imposed restrictions on Sri Guru Raghavendra Co-operative Bank and limited withdrawals to Rs 35,000 by customers.

On June 18, Anti-Corruption Bureau (ACB) raided five offices of Sri Guru Raghavendra Co-operative Bank, in relation to alleged misappropriation of Rs 1,400 crore.

The RBI, Enforcement Directorate, Criminal Investigation Department, and Registrar of Cooperative Societies are looking into the financial irregularities at the lender.

The police also conducted searches at residences of Maiya and the bank's chairman K Ramakrishna in relation to the above mentioned case, sources said.

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News Network
July 11,2020

Bengaluru, Jul 11: Karantaka Congress chief DK Shivakumar on Friday raised questions over claims that Rewa Ultra Mega Solar Power Project Madhya Pradesh was "largest in Asia" and said a 2000 MW had been built in the state.

"BJP central government is claiming today that it inaugurated Asia's largest solar plant of 750 MW at Rewa, MP. What then is the 2000 MW Solar Plant in Pavagada, Karnataka which was built in just 3 years by Karnataka Congress government and has been operational since 2018?" Shivakumar said in a tweet.

The Congress leader further said that the most unique thing about the solar project set up in Karnataka was that the farmers were being paid yearly rents for the land upon which it was constructed as it had been leased and not purchased from them, helping them retain ownership.

"The unique thing about the 2000 MW Pavagada Mega Solar Park was that not a single acre of land was acquired from the farmers. All 13,000 acres have been leased from the farmers who are being given yearly rent. Karnataka model of renewable energy was accepted as the best in India," he said.

"Union power minister must answer as to how the Central Government can claim that the Rewa Solar Park (750 MW) opened today is Asia's largest when clearly the Pavagada Park in Karnataka is much larger (2000 MW) and was opened two years back!" he said.

Prime Minister Narendra Modi dedicated Rewa Ultra Mega Solar Power Project to the nation on Friday. 

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