RBI gives a makeover to Rs 10 note with chocolate-brown shade

News Network
January 5, 2018

After the big Indian notes, now it's time for 10 rupee note to get a new makeover. According to reports, the Reserve Bank of India is all set to issue new Rs 10 notes under the Mahatma Gandhi series with chocolate brown colour as the base.

A picture of Konark Sun Temple will be a new addition to the Rs 10 note. As per various news reports, the central bank has already minted around 1 billion pieces of the new Rs 10 note.

The existing Rs 10 note had a design change in 2005. It currently has a picture of Mahatma Gandhi on the front side while a combo picture of an elephant, a tiger and a rhinoceros is printed on the backside.

The new note may also receive a makeover in its numbering pattern as seen in the new notes. In the new notes, ascending size of numerals can be seen from left to right.

In August last year, RBI had introduced the new Rs 200 and Rs 50 notes under the Mahatma Gandhi series. An RBI spokesperson declined to comment.

The move to reintroduce lower denomination notes in a new design comes after the government’s move to rework the currency mix in order to combat counterfeiting and promote a less-cash economy.

On 8 November 2016, the government announced demonetisation to withdraw Rs 1,000 and Rs 500 currency notes, amounting to around 86% of the currency in circulation of Rs 17.9 trillion. Since then, RBI has replaced these with the new Rs 2000 notes and redesigned Rs 500 notes.

RBI has printed 16.96 billion pieces of Rs 500 notes and 3.6 billion pieces of Rs 2000 notes as on 8 December, according to information given by the finance ministry in Lok Sabha. The total value of such notes translates into Rs 15.79 trillion.

Separately, the regulator had also reissued around 12 billion soiled banknotes of Rs 10, Rs 20 and Rs 50 denomination after the demonetisation resulted in a currency crunch. According to RBI, a soiled note is a currency note which has become dirty due to normal wear and tear.

RBI data show currency in circulation was Rs 16.71 trillion as on 22 December. This is about 94.4% of the Rs 17.7 trillion that was in circulation on 4 November 2016.

RBI’s annual report for fiscal 2016-17 also showed that the volume of banknotes increased by 11.1% mainly due to higher infusion of banknotes of lower denomination following demonetisation. The government’s rationale behind the move is to check fake notes which had seen a significant jump since 2008. From 195,000 pieces in fiscal year 2008, the number of counterfeit notes increased to 632,000 pieces in 2015-16.

“The idea is to increase supply of lower denomination to encourage day to day transactions and for larger transactions, people should move to digital mode of payment. Printing of lower denomination notes in new design will ensure soiled notes will be taken out from the system,” said Soumya Kanti Ghosh, group chief economic adviser at State Bank of India.

RBI has still not finished counting the old Rs 500 and Rs 1000 notes after demonetisation.

Comments

Danish
 - 
Friday, 5 Jan 2018

Modi trying to create more issues. He wont stop making problems to people

Suresh Kalladka
 - 
Friday, 5 Jan 2018

All because of feku ji.. 

Ganesh
 - 
Friday, 5 Jan 2018

Feku wants all notes in same color of his jackets..

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News Network
February 18,2020

Bengaluru, Feb 18: Deputy chief minister Laxman Savadi was elected to the legislative council on Monday and although it was a done deal that he would win, a vote from across the aisle spiced up the election.

Counting was conducted soon after ballots were cast and Savadi polled 113 of the 120 votes cast, including the vote of disgruntled JD(S) legislator GT Devegowda. Seven votes were declared invalid. Members of the two opposition parties — Congress and JD(S) — abstained from voting.

The election was necessitated following the resignation of Rizwan Arshad of the Congress. Rizwan resigned after he was elected to the legislative assembly from the Shivajinagar constituency in the assembly bypolls held for 15 seats in December last year.

BR Anil Kumar, who was initially promised the support of both Congress and JD(S) was supposed to contest as an independent candidate. However, as both parties refused to support him at the last minute, he withdrew, paving the way for Savadi’s victory.

The BJP has 117 members in the 225-member assembly, but N Mahesh of the BSP and two independents, H Nagesh and Sharath Bachchegowda, besides GT Devegowda also voted, taking the total electorate to 120 (including the speaker). BJP’s SA Ramadas did not turn up because of health reasons.

“I would like to thank all those who were responsible for my victory. Special thanks to leaders of my party and chief minister BS Yediyurappa, who gave me the opportunity to be the BJP candidate,” said Savadi.

Winning this council election was crucial for Savadi to retain his ministry as he was not an elected member of either of the houses. Rules mandate that a non-member must get elected either to the assembly or council within six months after taking over as minister. February 20 was the deadline for Savadi, who had lost 2018 assembly polls from Athani, to get elected.

Officials in the assembly secretariat said seven votes were invalid because voters had wrongly marked their choices on ballot paper. According to norms, a voter has to mark numerical one, two and three against the names of the candidates in order of preference. Marking only numerical one is allowed. However, six ballots had a tick mark, while a voter had registered a cross mark. Since it was a secret ballot, it was not known who the MLAs were whose votes were invalid.

“The ballot papers bear serial numbers and they are randomly distributed. It is virtually impossible to say who a voter cast his or her vote for,” said assembly secretary MK Vishalakashi, the retuning officer for the bypoll.

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News Network
May 15,2020

Mangaluru, May 15: Dakshina Kannada Superintendent of Police on Friday warned those who are opposing quarantine to either go for it or face legal action under Epidemic Diseases Act.

In a release here on Friday, Mr B M Laxmi Prasad said that schools and hostels have been identified for quarantining those who arrive from other states. Those, who return, will be quarantined in the respective Gram Panchayat/local bodies’ jurisdiction. The public should not panic over the quarantine facility.

The quarantine facility has been introduced in the interest of the general public. If anyone opposes or protests against such facility, then legal action will be initiated against them, he warned.

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News Network
April 1,2020

Bengaluru, Apr 1: The price of petrol and diesel will go up by Rs 1.60 and Rs 1.59 per litre, respectively, from Wednesday. This is in line with Chief Minister B S Yediyurappa’s decision to hike the rate of tax on petrol from 32% to 35% and diesel from 21% to 24%.

He had announced this in his March 5 Budget for 2020-21 fiscal. At present, a litre of petrol costs Rs 71.97 and diesel Rs 64.41 in Bengaluru.

The government decided to roll out the hike from Tuesday midnight going into Wednesday, April 1, after briefly considering a postponement in view of the COVID-19 crisis. 

Finance Secretary (Budget & Resources) Ekroop Caur confirmed to DH that the hike will be rolled out. 

The 3% hike on fuel tax was a key resource mobilisation measure that Yediyurappa announced in his Budget. The hike is expected to fetch the government Rs 1,500 crore. 

Yediyurappa had also announced a 6% additional excise duty on Indian Made Liquor (IML), which could help the government mop up Rs 1,200 crore. However, the sale of liquor has been prohibited during the lockdown period. Plus, hiking fuel prices during the lockdown will not hit citizens very hard. 

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