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
June 2,2020

Davanagere, Jun 2: A special pooja was performed by Honnali BJP MLA and Karnataka Chief Minister BS Yediyurappa's political secretary MP Renukacharya at Hirekalmatha, in Honnali against COVID-19.

A Nava Graha pooja was also performed for the betterment of those infected. Those present at the pooja maintained social distancing norms and covered their faces with masks.

The total number of coronavirus cases in the country now stands at 1,90,535 including 93,322 active cases. While 91,819 people have either been cured, discharged or migrated, 5,394 deaths have been reported.

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News Network
July 25,2020

Bengaluru, Jul 25: Former Karnataka Chief Minister Siddaramaiah on Friday said that the ministers of the BJP-led government in the state avoiding a judicial enquiry into the alleged corruption in procurement of medical essentials "is their height of arrogance".

In a series of tweets, Siddaramaiah said, "Why is the government afraid of judicial enquiry on corruption in procurement of medical essentials? If the ministers are so clean, what is holding them back from initiating investigation? This is their heights of arrogance!!"

He said that there should be a judicial enquiry by a sitting High Court Judge to let people know the facts.

"We will submit our documents and let the government submit their documents. If they are confident, why are they reluctant to initiate an investigation?" Siddaramaiah asked.

"Statment from the PMO says 50,000 ventilators are procured at a rate of Rs 4 lakhs per unit. Is this not true? Will Karnataka BJP ministers say that ventilators under PM CARES are sub-standard and lack quality?" he said.

"There will be both basic and premium models in everything. Even the PMO could have bought Rs. 18 lakh worth ventilator. Why did they buy a Rs 4 lakh worth ventilator? What is the justification from ministers for this?" he questioned.

Siddaramaiah asked that if the Medical Education Department sent a proposal worth Rs 815 crores which is not recomended by experts.
"It is true that Medical Education department has sent a proposal worth Rs 815 crores. It is also true that there is a note on the proposal which says that these are not recommended by experts. What is the significance of this note?" he tweeted.

The former Chief Minister said that if the state government is saying that if ventilators were procured during the tenure of Congress-JD(S) government, they must produce the proof.

"They are accusing us for the ventilators procured during the coalition government. I was not in the government then. If they have documents, let them investigate about that also. Let the truth be revealed," he said.

The Congress leader said that the opposition is not interested in playing politics during the time of COVID-19 pandemic.

"We are not interested in doing politics during COVID-19 pandemic, which is why we have not taken up many other pressing issues. But how can we be quiet when hundreds of people are succumbing due COVID-19 mismanagement?" he asked.

Karnataka on Friday reported 5,007 more COVID-19 cases and 110 deaths. The total number of cases in the state stands at 85,870, including 52,791 active cases and 1,724 fatalities, said the state government's bulletin.

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coastaldiest.com news network
February 10,2020

Newsroom, Feb 10: Habeeb Ur Rahiman, a lecturer in the Department of Business Administration at Kingdom University Bahrain, has been awarded doctorate from the Visvesvaraya Technological University (VTU), Belagavi.

He has completed his thesis Influence of Quality of Work Life, Ego Status and Job Attitude on Organisational Commitment and Productivity of Bank Employees under the guidance of Prof Rashmi Kodikal. 

Habeeb Ur Rahiman is the son of Yusuf and Ayisha couple from Uppinangady in Dakshina Kannada district.

After obtaining his Master Degree (MBA, Finance) from Visvesvaraya Technological University in 2012, he had worked in Bearys First Grade College, Kundapura and P A College of Engineering, Mangaluru before migrating to Bahrain.

Comments

Imran Athoor
 - 
Tuesday, 11 Feb 2020

Masha Allah , Mabrook habeeb , you are desurved , we know  earlier your hard work and challange in your field. 

Dr.Shafeeq
 - 
Tuesday, 11 Feb 2020

Masha Allah...Congratulations Bro!!

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