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
March 11,2020

Bengaluru, Mar 11: Amid the prevailing political uncertainty in Madhya Pradesh with Jyotiraditya Scindia's exit, Congress leader DK Shivakumar on Wednesday asserted that "leaders may come and go but no one can destroy Congress."

"No one can destroy Congress. Leaders may come, leaders may go, that doesn't make any difference," said Shivakumar while speaking to news agency on the current political scenario for Congress in Madhya Pradesh.

Speaking about the Madhya Pradesh Congress MLAs, who are lodged in Bengaluru, he said: "All the Madhya Pradesh MLAs who are here do not want to lose their membership. I am sure they will understand, go back and save the government."

On Tuesday, Congress sent two of its leaders -- Sajjan Singh Verma and Govind Singh -- to Bengaluru in order to pacify some of the rebel MLAs who are lodged in a hotel there and who claimed to have resigned from the state Legislative Assembly.

After meeting with 19 party MLAs who have tendered their resignations, Congress leader Sajjan Singh Verma on Wednesday said they are neither willing to support Jyotiraditya Scindia nor in favour of joining BJP as they were "misled and taken to Bengaluru" in Karnataka.

"Nobody is ready to go with Scindia ji. They said they were misled and taken to Bengaluru, most of them said they are not ready to join BJP," Verma told ANI on being asked about the 19 MLAs.

"I just came from Bengaluru and now I am going to Jaipur. Besides 5-6 ministers and one MLA, we all are going to Jaipur. They (MLAs) have said they have the blood of Congress and they will remain in the party. Since Scindia was a senior party leader, all our MLAs followed his order as a courtesy," he said.

The Congress leader further claimed that BJP is using both "muscle and money power" to influence Congress MLAs.

He also claimed that he is strongly in contact with 7-8 BJP MLAs.

Most of the rebel MLAs are perceived close to Scindia and are apparently unhappy at Scindia being "ignored" in the party. The grand old party has been witnessing an internal turf war in Madhya Pradesh since the party formed the government in the state in 2018.

Scindia is likely to join BJP later today.

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News Network
May 2,2020

Bengalur, May 2: Two people died of COVID-19 in Karnataka on Saturday taking the toll in the state to 25, whereas nine more tested positive for the virus, pushing the tally to 598, the health department said. Two deaths were reported in Bidar and Bengaluru urban, the health department said in a statement.

An 82-year-old person with a history of Severe Acute Respiratory Illness died in Bidar. While the second fatality was a 62-year-old man with a history of diabetes, hyper-tension, renal failture and was on multiple myeloma on chemotherapy, in Bengaluru. He too had complained of breathlessness on April 30 and died on Saturday at the designated hospital.

Among the nine new cases, two each are from Tumakuru, Vijayapura, one each from Bidar, Chikkaballapura, Belagavi, Bagalkot and Bengaluru urban. Cumulatively, 598 COVID-19 positive cases have been confirmed in the state and it includes 25 deaths.

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News Network
June 15,2020

Bengaluru, Jun 15: As the central government has not allowed reopening of gyms in the country amid COVID-19 pandemic, many gymnasiums in Bengaluru are on the verge of closing or sale.

Rakshith Gowda, a gym owner and secretary of gym owners association told ANI that they are not even able to pay rent of the premises which is Rs 60,000 to 1 lakh per month.

"The condition of the owners of the gym have worsened. We have to pay a minimum of Rs 60,000 - 100,000 rent of the building and for past 4 months we couldn't pay the rent, salary to trainers and cleaners, EMI," Gowda said.

"I urge the government to take necessary steps to bring up the gym sector as they have allowed opening up of shops, temples, malls. We urge the government to take proper steps in the interest of gyms," added Gowda.

Mahesh, a gymer said that he had to participate in a competition and due to lockdown he could not work on his bodybuilding.

"I was building my body for one year and due to lockdown I couldn't do the workout, I had to take part in a competition, now I need at least another one year to build my body back," Mahesh said.

Prasad, international bodybuilder said, "Most of the bodybuilders and gym owners are running gyms by taking loans, they are not in the situation to pay their loan EMIs."

"It's very important for us to reopen gyms and run them with all precautions and guidelines but the government is not allowing us to pay our loans and many gym owners and trainers are facing a tough time to earn living. We have requested Deputy Chief Minister Govind Karjol and cabinet ministers to allow us to open, but the government hasn't taken the decision in the interest of gyms which is creating more problems for us," Prasad said.

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