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Order on notes not linked to elections: Rajan

January 23, 2014

New Delhi, Jan 23: Reserve Bank Governor Raghuram Rajan today said the order withdrawing all currency notes printed before 2005 was not an attempt at demonetisation or had anything to do with the general elections.raghuram_rajan

He also made it clear that the pre-2005 notes will continue to be legal tender.

"This is not an attempt to demonetise. It is an attempt to replace less effective notes with more effective notes. I understand people are making a different interpretations. Unfortunately that should not be the interpretation," he said.

Rajan was answering a question on the RBI's last night decision to withdraw all currency notes printed before 2005, after he delivered the 8th R N Kao Memorial Lecture here.

CBI Director Ranjit Sinha had asked him about the significance of the decision coming before the general elections.

"I have to say that it (withdrawal of notes) has nothing to do with elections which certainly is not the objective," Rajan said.

He said there has been a long standing demand that these notes have unfortunately become less secure. The notes after 2005 have greater security features and the Finance Ministry sought withdrawal of the pre-2005 notes.

RBI had yesterday said that after March 31, 2014, it 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.

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News Network
February 1,2020

New Delhi, Feb 1: India on Friday banned the export of personal protection equipment such as masks and clothing amid a global coronavirus outbreak.

It did not give a reason for the ban but it reported its first case of the new coronavirus on Thursday, a woman in Kerala who was a student of Wuhan University in China.

The central Chinese city of Wuhan is the epicentre of the outbreak, and the virus has since spread to more than 9,800 people globally and killed 213 people in China.

Several Indian citizens living in Wuhan will arrive in India by plane on Saturday and be taken to a quarantine centre on the outskirts of the capital New Delhi.

India, the world’s second most heavily populated country after China, has taken measures to ensure that all people arriving from China report to health authorities.

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Agencies
August 6,2020

New Delhi, Aug 6 : With a single-day spike of 56,282 new COVID-19 cases and 904 deaths in the last 24 hours, India's COVID-19 tally reached 19,64,537 on Thursday.

With the increase of 904 deaths, the toll due to the disease now stands at 40,699 in the country, according to the Union Ministry of Health and Family Welfare (MoHFW).

The COVID-19 count includes 5,95,501 active cases and 13,28,337 cured/discharged/migrated patients.

Meanwhile, as per the MoHFW, the percentage of discharged patients stands at 67.62, while the active cases are at 30.31 in the country as of today.

The deaths reported due to the infection are currently at a little above two per cent of the total confirmed cases in the country.

Maharashtra with 1,46,268 active cases and 3,05,521 cured and discharged patients continues to be the worst affected. The state has also reported 16,476 deaths due to the infection.

Tamil Nadu has 54,184 active cases while 2,14,815 patients have been discharged after treatment in the state. 4,461 deaths have been reported due to COVID-19 in the state.

Andhra Pradesh with 80,426 active cases is the third on the list. There are 1,04,354 cured and discharged patients and 1,681 deaths reported from the state.

The national capital's active cases tally once again crossed the 10-thousand mark with 175 new cases being reported. Delhi now has 10,072 active cases and 1,26,116 cured and discharged patients. 4,044 people have lost their lives due to the disease in the Union Territory so far.

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Agencies
January 21,2020

New Delhi, Jan 21: With the IMF lowering India's economic growth estimate for the current fiscal to 4.8 per cent, senior Congress leader P Chidambaram on Tuesday claimed an attack on the world body and its chief economist Gita Gopinath by government ministers was imminent.

He also alleged that the growth figure of 4.8 per cent given by the International Monetary Fund (IMF) is after some "window dressing" and he won't be surprised if it goes even lower.

"Reality check from IMF. Growth in 2019-20 will be BELOW 5 per cent at 4.8 per cent," Chidambaram said in a series of tweets.

"Even the 4.8 per cent is after some window dressing. I will not be surprised if it goes even lower," the former finance minister said.

IMF Chief Economist Gopinath was one of the first to denounce demonetisation, he noted.

"I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath," Chidambaram said.

The IMF lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.

In October, the IMF had pegged India economic growth at 6.1 per cent for 2019.

Listing decline in rural demand growth and an overall credit sluggishness for lowering of India forecasts, Gopinath, however, had said the growth momentum should improve next year due to factors like positive impact of corporate tax rate reduction.

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