In the third of a four-part series, Business Standard reporter travels to Nashik to assess how the currency press there is responding to demonetisation.
If RBI has to replace the entire stock of Rs 1,000 and Rs 500 notes with Rs 100 ones, the cost would be more than Rs 10,000 crore.
Two days after Nepal scrapped a deal with India to print new smart passports, India regretted the politicisation of the contract, saying it was just a "goodwill gesture" toward its neighbour on Tuesday.
The printing of one-rupee notes was discontinued in 1994.
Little attention is paid to the management of currencies and coins in India.
The number of Rs 2,000 currency notes in circulation has come down from 33,632 lakh pieces at end-March 2018 to 32,910 lakh pieces at end-March 2019 and further to 27,398 lakh pieces at end-March 2020.
Reserve Bank of India Governor Shaktikanta Das on Monday stressed on achieving 100 per cent self-sufficiency in banknote manufacturing in the near future. He was speaking after dedicating Varnika, the ink manufacturing unit of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), to the nation in Mysuru. BRBNMPL, a wholly-owned subsidiary of the RBI, has set up Varnika with an annual ink manufacturing capacity of 1,500 MT to enhance the security of banknotes.
In the first of a four-part series, Business Standard takes a look at how a mint in Salboni, West Bengal, is working overtime to print currency notes.
The CBI, in its FIR, alleged that Mayaram, the UK-based company De La Rue International Ltd and unidentified officials of the finance ministry and RBI hatched a criminal conspiracy to extend undue favour to the firm.
In the first of a four-part series, Business Standard takes a look at how a mint in Salboni, West Bengal, is working overtime to print currency notes.
A whopping 10 lakh notes were printed on defective currency paper from the Hoshangabad Security Paper Mill
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
What's the real reason behind ATMs running dry even in states that are not election-bound, wonders Nivedita Mookerji.
Use cheques, cards to check black money, says Jaitley.
A year's print run has been shortened to 5 months.
Though this is part of the divestment drive, government's stake in these companies remains 100 per cent even after the buybacks
Senior bureaucrats Avinash Joshi and Niraj Verma are among the 10 candidates who are in the race to become chairman and managing director of India's largest oil and gas producer, ONGC. Mangalore Refinery and Petrochemicals Ltd (MRPL) director-finance Pomila Jaspal and ONGC director for technology and field services Om Prakash Singh are the other prominent names in fray for the top job, according to a candidate shortlist by the Public Enterprise Selection Board (PESB). PESB - the government headhunter - will hold interviews to select the new head of Oil and Natural Gas Corporation (ONGC) this week. Both the bureaucrats are from the 1994 batch of IAS officers belonging to the Assam-Meghalaya cadre.
In the second of a four-part series, Business Standard checks out the currency press in Dewas to find target-based allowances have increased the monthly salary of employees from Rs 10,000 to Rs 30,000, at a time when notes are being printed 24x7.
Government headhunter PESB on Friday did not find anyone suitable from nine candidates, including two serving IAS officers, to head India's largest oil and gas producer, ONGC. The Public Enterprise Selection Board (PESB) interviewed 9 out of the 10 candidates who had applied for the post of chairman and managing director of Oil and Natural Gas Corporation (ONGC). "Keeping in view the strategic importance and vision for the company and its future, the Board did not recommend any candidate and decided to constitute a Search Committee," PESB said in a notice after interviews. Those interviewed included senior bureaucrats Avinash Joshi and Niraj Verma.
In a first, a special National Investigation Agency court in Mumbai sentenced six accused in a 2009 fake currency case to life imprisonment, terming the possession and circulation of Indian counterfeit notes as an "act of terrorism".
The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.
Congress chief spokesperson Randeep Surjewala released a list of 55 persons who lost their lives while standing in queues at banks and ATMs in the wake of demonetisation and demanded compensation to their families besides probe into their death.
Cash withdrawal limits likely to continue
James Wilson tracks down discrepancies in the much-hailed demonetisation policy and the subsequent statements of the government and the Reserve Bank of India.
James Wilson explains why Indians are destined to silently suffer the cash shortage for half a dozen more months.
NDA government has shunned populism.
By region, Thiruvananthapuram leads with 247 defaulters, followed by Kolkata with 173 and Bhubaneswar with 115
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