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
January 13,2020

Bengaluru, Jan 13: Days after indicating that he may not travel to Davos to attend the World Economic Forum later this month, Chief Minister B S Yediyurappa on Monday said he will be attending the global meet, and that the expansion of his ministry will take place before his foreign tour.

Reiterating that he will keep the promise of making disqualified legislators who have won bypolls on BJP ticket as ministers, he said ministry expansion will happen soon after his meeting with party national president Amit Shah on the matter. "There is no truth in speculations that are going on regarding the cabinet expansion, in fact, Amit Shah had given me time for meeting today in Delhi, but I had to attend important programmes here.

Tomorrow if possible I will cancel all my programmes and will go to Delhi, and get cabinet cleared, there is no problem in that," Yediyurappa said.

Speaking to reporters here, he said the legislators who have won in the bypolls need not worry about the speculations.

"I will fulfil the promise that I have made. If Amit Shah is available I will try to go to Delhi tomorrow. If not he is coming here (Karnataka) on January 17 and 18, will get things cleared and expand the ministry," he said. Yediyurappa had earlier said he will be going to New Delhi probably on January 11 or 12 to discuss cabinet expansion with the BJP high command. However, on Saturday, he said he has decided to discuss the exercise with Shah during the latter's visit to the state next week.

Shah will be here to address a huge rally at Hubballi on January 18 as part of the BJP's nationwide outreach programme to create awareness among the people about the Citizenship Amendment Act.

To a question about his visit to Davos, Yediyurappa said "everyone is persuading me to go, so I have decided to go. As I'm being sent by the central government, so I will have to go, and I will go and come." Yediyurappa along with Union ministers Piyush Goyal and Mansukh Mandaviya as well as chief ministers - Amarinder Singh (Punjab), Kamal Nath (Madhya Pradesh) are among those expected join over 100 Indian CEOs in the Swiss ski resort town of Davos later this month for the WEF's 50th annual meeting.

The Chief Minister, however, had last week, indicated that he may not travel to Davos.

Rubbishing reports about the Ministry expansion after Delhi assembly polls, he said there is no connection between the two.

"I will talk to Amit Shah in a couple of days and immediately take up ministry expansion after that, there is no need for anyone to worry, and there is no truth in certain media reports," he said, adding that expansion exercise will be completed before his Davos visit.

The Chief Minister is likely to travel to Davos on January 20, according to sources.

According to reports, disqualified legislators who got re-elected during the December 5 bypolls on BJP ticket and are all set to become Ministers too had put pressure on Yediyurappa to expand the cabinet before the Davos visit.

As the Chief Minister has already made it clear that 11 of the disqualified JDS-Congress MLAs who got re-elected in the bypolls on BJP tickets will be made ministers, lobbying has been on within the party for the remaining ministerial berths.

Currently, there are 18 Ministers, including the Chief Minister in the cabinet that has a sanctioned strength of 34.

However, with reports that the high command may not be keen on making all the 11 re-elected legislators, whom Yediyurappa has given assurance, as Ministers, it remains to be seen how things turn out.

Cabinet expansion will not be an easy task for the Chief Minister as he will have to strike a balance by accommodating the victorious disqualified legislators as promised and also make place for old guards, upset at being "neglected" in the first round of the induction exercise.

He also has to give adequate representation to various castes and regions in his cabinet and also deal with allocation of key portfolios.

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coastaldigest.com news network
June 29,2020

Bantwal, Jun 29: Seven SSLC students, who were on their way to write the examination, were injured in a road mishap near Panemangaluru on Monday.

According to sources, the auto-rickshaw in which the students were travelling overturned causing them injuries.

All the injured were students of Shambur Government high school.

Police said the accident took place as the driver lost control over the vehicle.

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News Network
January 16,2020

Mangaluru, Jan 16: The Akhil Bharatiya Vidyarthi Parishad is holding rallies and meetings and distributing booklets across the country in support of the Citizenship (Amendment) Act, said ABVP National Secretary Harsha Narayan here on Thursday.

Speaking to media persons, he said that the CAA, which provides citizenship to Hindus, Buddhists, Sikhs, Parsis, Jains and Christians persecuted in Pakistan, Afghanistan and Bangladesh, was among the things that the ABVP was fighting for.

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