1. Home
  2. Currency notes issued before to 2005 to be withdrawn

Currency notes issued before to 2005 to be withdrawn

[email protected] (PTI)
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.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 4,2020

Udupi, Jan 4: A 37-year-old Udupi district JD(S) spokesperson allegedly committed suicide at his residence here last night, police said on Saturday.

It identified the deceased as Pradeep G Bailoor (37).

He was working as the District JD(S) spokesperson for many years.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 1,2020

Mangaluru, Apr 1: Police have arrested a person on charges of spreading malicious comments against the Karnataka government staff engaged in the prevention of the novel coronavirus in the district.

City Police Commissioner Harsha on Tuesday tweeted, “One Nizam has been arrested and sent to judicial custody on court orders for spreading malicious content on social media through a platform idunammadhwani.. regarding various government functionaries engaged in anti-COVID-19 work and spreading rumours.”

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 24,2020

Bengaluru, Apr 24: Karnataka Chief Minister BS Yediyurappa on Thursday held a meeting with state officials to address the situation in the wake of COVID-19 pandemic.

Due to COVID-19, the prices of the crops have come down. It was instructed to buy those vegetables and keep them in cold storage and then sell. It was also instructed to export fruits, vegetables which cannot be kept for a long time to other states and countries.

Wherever there is a scarcity of drinking water, it was decided to supply water immediately.
Chief Minister Yediyurappa had earlier spoken to Union Minister Sadananda Gowda and took information regarding fertilisers.

As fertilisers' demand is less in the international market, the Union minister for fertilisers said that farmers will be given fertilisers at less than the actual price.

As some of the associations/guilds have violated the lease conditions by not starting the actual work which they have got the land for in Bengaluru, they have been instructed to return the land to the government where the lease conditions have been violated.

As far as the irrigation department is concerned, much water is stored in dams. It was decided to utilise the same for the cultivation of crops and for the purpose of drinking.

As far as the education department is concerned, it was instructed to give online training to students.

With the help of state television channel Doordarshan, it has been decided to teach students about the syllabus and other activities till the reopening of school.

The KSRTC has lost hundreds of crore due to the reduction in bus services due to COVID-19. So, they were instructed to use buses to transport goods to generate revenue.

The government also decided that salary for the doctors, who are working on a contract basis against COVID-19, will be increased significantly.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.