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old Rs 500 notes News
old Rs 500 notes
No counting machines, but sophisticated currency verification units being used for scrapped notes: RBI
Mon, Sep 11, 2017
Rather, it is using "sophisticated Currency Verification and Processing (CVPS) machines for checking the numerical accuracy and genuiness of the currency notes, including SBNs (Specified Bank Notes that have been scrapped)", the RBI clarified later this evening.
How demonetisation dented the RBI
Tue, Sep 05, 2017
On November 08, 2016, PM Narendra Modi announced the demonetisation of high denomination notes old Rs 500 and Rs 1000 to tackle black money and terror financing.
Post note ban, why were new Rs 500 notes late in coming?
Sun, Aug 13, 2017
Here are some facts about the printing and other factors that went into the making of the new Rs 500 currency note as given by top officials involved in the issue.
RBI to procure 50 note verifying machines
Sun, Jul 30, 2017
As per the Request for Proposal (RFP), the machines should be computer based and microprocessor controlled and capable of processing, counting, sorting and authenticating banknotes into 'fit for circulation', 'unfit for circulation', 'reject notes', 'suspect/forged notes', and 'emission-wise sorting on design and series', among other categories.
Co-operative banks given 30 days time to deposit demonetised notes
Wed, Jun 21, 2017
Ministry of Finance has asked the district central co-operative banks to deposit old Rs 500 and Rs 1000 notes with RBI in a time period of 30 days.
WATCH: What's new in RBI's new series of Rs 500 notes
Tue, Jun 13, 2017
RBI has been issuing banknotes in Mahatma Gandhi series from time to time and now it had introduced a new batch of Rs 500 banknotes.
All cash withdrawal limits go back to pre-demonetisation era
Mon, Mar 13, 2017
In a two-stage process, the weekly withdrawal limit per account had been raised to Rs 50,000, from Rs 24,000, with effect from February 20, and all limits on ATM withdrawals were slated to cease from March 13.
No plans to introduce Rs 1000 notes, confirms Shaktikanta Das
Wed, Feb 22, 2017
To replace the old notes of Rs 500 and Rs 1,000 during demonetisation, the RBI had issued new notes of Rs 500 and Rs 2,000.
Demonetisation unnecessarily demonised: Aditya Puri
Sat, Feb 18, 2017
"He (Prime Minister Modi) has created transparency and traceability. He has changed the mindset (in such a way that) everybody is going to think twice about going back to their old ways and from what I understand, the conversion to digital has occurred at a pace much faster," Mahindra said at the annual NILF here.
Demonetisation 'biggest scam of 2016': Chidambaram
Sun, Feb 12, 2017
"I am sorry to make the prediction that 2016-17 will end with growth (rate) between 6 and 6.5 per cent, a good one per cent down from the earlier estimate and that means a hit of Rs 1.5 lakh crore on GDP. The GDP this year is Rs 150 lakh crore, so one per cent hit is Rs 1.5 lakh crore," Chidambaram said at a function here today.
RBI to declare ''verified'' figure on post-demonetisation deposits
Sat, Feb 11, 2017
"There are tens of thousands of bank branches and 4,000 currency chests. We need to be careful and try that this is a number which is not a mere estimate but a verified number both physically and in the accounting sense," Patel added when asked about the estimated amount of old currency notes that have come back.
Govt pressed ahead with demonetisation despite concerns, RBI tells parliament
Fri, Jan 20, 2017
The central bank in a writtenn testimony to the parliament said that they had warned the government of the "possible inconvenience to the public for some time".
Cash deposit deadline extended for those outside country
Sat, Jan 07, 2017
This facility will be available for those who are not residents of India till June 30 "in order to allow them adequate time to plan a visit as per their convenience", it said.
97% of demonetised notes are back? RBI says don't know yet
Thu, Jan 05, 2017
RBI said, "We would like to clarify that the periodical Specified Bank Notes (SBN) figures released by us were based on aggregation of accounting entries done at the large no of Currency Chests all over the country. Now that the Scheme has come to an end on December 30, 2016, these figures would need to be reconciled with the physical cash balances to eliminate accounting errors/ possible double counts etc."
Demonetisation: Last day for depositing scrapped notes in banks
Fri, Dec 30, 2016
After March deadline, people still holding the demonetised amount will face penalty, as per an ordinance passed by Union Cabinet earlier this week.
Demonetisation: Reliance Jio may extend 'Welcome Offer' beyond December
Wed, Nov 30, 2016
The extension of the Welcome Offer by Reliance Jio is expected to impact on its Q4 results.