-PTI New Delhi: The government said demonetisation of high-value currency notes in November 2016 achieved the objectives “quite substantially” even as the Reserve Bank of India reported most of the demonetised currency was back with the banks. The RBI annual report released on Wednesday said 99.3% of Rs 500 and Rs 1,000 junked notes came back to banks. “I think demonetisation has achieved its objective quite substantially,” economic affairs secretary Subhash Chandra...
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99.40% of demonetised notes returned: RBI
-The Hindu Business Line Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018 Mumbai: Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report. The report pegged the total SBNs returned from circulation at Rs 15.31 lakh crore....
More »Nod to prisoner amnesty scheme
-The Telegraph New Delhi: The Union cabinet chaired by Prime Minister Narendra Modi on Wednesday approved guidelines for granting special remission to certain categories of prisoners, including women, transgenders and the differently abled, as part of commemorating the 150th birth anniversary of Mahatma Gandhi. According to the decision, women and transgender convicts who are at least 55 years old and have completed half their sentences will be granted the remission and set...
More »Cost of Modi's demonetisation: IAF raised bills of Rs 29.41 crore to ferry currency notes, reveals RTI
-PTI New Delhi: Over Rs 29.41 crore was spent on using the Indian Air Force’s ultra-modern transport aircraft — the C-17 and the C-130J Super Hercules — to ferry the newly-issued Rs 2,000 and Rs 500 currency notes post-demonetisation, according to an RTI reply. The move to scrap the old Rs 500 and Rs 1,000 notes was announced by Prime Minister Narendra Modi on November 8, 2016, and saw 86 per cent...
More »Too few FIRs in Delhi & Gujarat for Fake currency notes seized during 2016, indicates NCRB data
In a country where inter-departmental coordination hardly takes place in the government, a joint exercise undertaken by the Reserve Bank of India (RBI) and the National Crime Records Bureau (NCRB) is bearing fruits. The NCRB has started coordinating with the RBI for collection and sharing of Fake Indian Currency Note (FICN) data. The new tables, which have been introduced in the NCRB's annual publication on crime, reveal that although the...
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