A three-member panel led by the Chief Justice of India (CJI) Sanjiv Khanna has been formed to probe the discovery of "four to five semi-burnt sacks" of Indian currency notes found after a fire at the residence of Delhi High Court judge Yashwant Varma. The incident, which occurred on March 14, has triggered an in-house inquiry, with the findings determining the judge's fate. The panel, consisting of Chief Justices Sheel Nagu (Punjab and Haryana), G S Sandhawalia (Himachal Pradesh), and Karnataka High Court judge Anu Sivaraman, will conduct a "deeper probe" into the allegations. Justice Varma has denied any knowledge of the cash being stored in the storeroom. The inquiry follows the Delhi High Court Chief Justice Devendra Kumar Upadhyaya's report that recommended a deeper investigation. The top court's 2014 guidelines for in-house procedures for probing allegations against judges will be followed during the inquiry. The panel's findings could lead to either the removal of the judge, if the misconduct is deemed serious, or a reprimand. The inquiry will also determine if the fire was indeed a short-circuit as initially reported.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
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Justice Bhushan Ramkrishna Gavai, India's 52nd chief justice and its first Buddhist one, has played a key role in shaping the judicial landscape, penning about 300 verdicts, including landmark rulings on constitutional issues, liberty, and perhaps most important against the executive's 'bulldozer justice'.
Starting Wednesday, October 1, foreigners in India have the option to submit a 'digital arrival card' online instead of the paper card.
A public interest litigation was filed in the Delhi high court on Monday against permission to exchange Rs 2000 banknotes without obtaining any requisition slip and identity proof.
A team led by the Deputy Commissioner of Police (New Delhi) on Wednesday visited the residence of Delhi High Court judge Yashwant Varma and questioned the staff and security personnel as part of an investigation into the alleged discovery of a cash pile at his residence. The visit was part of an in-house inquiry by a three-judge panel constituted by the Chief Justice of India for a "deeper probe" into the discovery of "four to five semi-burnt sacks of Indian currency notes" in Varma's Lutyens home following a fire incident on March 14. The police team, comprising six members, including DCP (New Delhi) Devesh Mahla, an ACP and other officials, reached Justice Varma's residence at 30, Tughlaq Road bungalow at around 1.50 pm and left about two hours later. The team also reviewed CCTV footage from cameras installed at the judge's residence and may question police and fire personnel who responded to the emergency call in the coming days.
Several opposition MPs, who had previously criticized former Rajya Sabha chairman Jagdeep Dhankhar, are now praising him following his sudden resignation, with some even requesting him to reconsider.
Small queues were witnessed at some bank branches on Tuesday for the exchange of Rs 2,000 notes against smaller denominations as part of the withdrawal exercise. As per the RBI guidelines issued on Friday, the exchange of Rs 2,000 facility is available from Tuesday. A person can exchange up to a limit of Rs 20,000 at a time without filling any form or requisition slip.
: Build lasting wealth via disciplined, long-term mutual fund investing in India's compounding marathon, Shanaihi, Shanaihi, says Ramalingam Kalirajan
Gold prices are likely to remain in a consolidation phase in the near term, but the overall bias will continue to stay positive amid heightened expectations of a US Federal Reserve rate cut in its September policy meeting, analysts said. Traders will closely track US macroeconomic data, such as Q2 GDP, PCE inflation, and speeches from Fed officials, which will provide more insights into the monetary policy stance of the Federal Reserve and the trajectory of the bullion sentiment, they added.
Alarmed over the menace of the fake Indian currency notes spreading its tentacles in India, the government has issued a directive to the Reserve Bank of India to withdraw from circulation the notes of 1996 and 2000 series.
Delhi Chief Minister Arvind Kejriwal on Wednesday appealed to Prime Minister Narendra Modi to have photos of Lord Ganesh and Goddess Lakshmi on currency notes.
No form or requisition slip is required for exchange of Rs 2,000 notes up to a limit of Rs 20,000 at a time as part of exercise to withdraw high-value currency notes from circulation. RBI on Friday in a surprise move announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks. Unlike the November 2016 shock of demonetisation, when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be a legal tender.
Filling of Rs 100 and Rs 200 notes result in faster depletion and more frequent cash replenishment. This will cost banks and managed service providers more.
Delhi Chief Minister Arvind Kejriwal, who created a political flutter with his appeal to incorporate images of Goddess Lakshmi and Lord Ganesh on currency notes, has written a letter to Prime Minister Narendra Modi pushing forward the demand.
Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation. However, there is no panic buying of the precious metal unlike the situation witnessed in 2016 during demonetisation, jewellers body GJC said on Sunday. In fact in the last two days, the actual gold purchase has been less in exchange of Rs 2,000 notes due to strict Know your Customer (KYC) norms although sources said some jewellers have started charging a 5-10 per cent premium, taking the gold prices to Rs 66,000 per 10 grams level.
The move comes a few days after the Yunus-led government dropped the portrait of the country's founding father and deposed prime minister Sheikh Hasina's father Mujibur Rahman from new currency notes.
It is only after the government's nod that a particular design change come into effect.
The Congress party launched a scathing attack on the RSS on its 100th anniversary, citing excerpts from a book claiming Mahatma Gandhi described the Sangh as a "communal body with a totalitarian outlook." The party also referenced Sardar Vallabhbhai Patel's criticism of the RSS.
Gold and silver prices are expected to maintain their upward trajectory this week, but may see late profit-booking amid the release of a series of crucial global economic indicators, analysts said. On the economic front, traders will closely monitor the manufacturing/ services PMI data from across regions and the US non-farm payrolls/ employment data along with consumer confidence for the month of September and speeches from several Federal Reserve officials, they added.
Reserve Bank Governor Shaktikanta Das on Thursday said about 50 per cent of Rs 2,000 notes in circulation has come back in the banking system since the RBI announced withdrawal of the highest denomination currency last month. As on March 31, 2023, he said, Rs 2,000 notes worth Rs 3.62 lakh crore were in circulation. "So far, Rs 1.80 lakh crore have come back after the announcement," he said during an interaction with media after releasing the bi-monthly monetary policy here.
RBI Governor Bimal Jalan today inaugurated the currency verification and processing system for faster and secured processing of soiled currency notes at the Mumbai office of the central bank.
INDIA bloc parties are set to raise issues such as the Pahalgam attack, US President Trump's claims of brokering a ceasefire, and concerns over electoral roll revisions in Bihar during the Parliament's Monsoon session.
Bangladesh's interim government on Wednesday dismissed as 'completely baseless' and 'misleading' the media reports that claimed it has dropped the 'Father of the Nation' title for Sheikh Mujibur Rahman and revised the definition of freedom fighter.
Rajya Sabha Chairman Jagdeep Dhankhar on Friday said a wad of currency notes was recovered by security staff from the seat allotted to Congress MP Abhishek Manu Singhvi.
The Rs 2,000 note withdrawal decision and response to it so far suggest that the move can help boost FY24 GDP growth to beyond 6.5 per cent estimated by the RBI, a report said on Monday. The real GDP growth for the first quarter of FY24 will come at 8.1 per cent with an upward bias and the Reserve Bank of India's 6.5 per cent estimate can also be exceeded, economists at the country's largest lender SBI said. "We expect Q1 FY24 GDP growth at 8.1 per cent with an upward bias due to the impact of Rs 2000 note withdrawal event...this reinforces our projection that FY24 GDP could be higher than 6.5 per cent, basis the RBI estimate," a note said.
The average Indian worker must labour for an extraordinary 160 full working days to afford Apple's latest iPhone 17 Pro.
Investor sentiment across Asian markets has shifted sharply in August, reveals the latest Bank of America (BofA) Fund Manager Survey, which found global growth expectations retreating after three months of improvement.
The printing of Rs 2000 notes has been substantially reduced. It has been decided to limit the printing of 2000 currency notes to minimum. This is nothing new, a FinMin official said.
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.
As part of its efforts to ensure clean bank notes to the public, the Reserve Bank of India has asked the public not to use bank notes for making garlands, and decorating pandals or places of worship. "Such actions deface bank notes and shorten their life. Bank notes should be respected as they are a symbol of the sovereign and not misusing them enhances their life," the central bank said in a statement issued on Wednesday.
One hundred years ago, a group of 10 revolutionaries carried out an operation that shook the British Empire. Utkarsh Mishra revisits the 'Kakori Conspiracy Case', a turning point in the armed struggle for independence.
The value and volume of banknotes in circulation increased by 7.8 per cent and 4.4 per cent, respectively, during 2022-23 as compared with 9.9 per cent and 5 per cent, respectively, in 2021-22, revealed the RBI annual report released on Tuesday. In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 87.9 per cent of the total value of banknotes in circulation as on March 31, 2023, as compared to 87.1 per cent a year ago. The Reserve Bank has announced withdrawal of Rs 2,000 notes, and holders of the highest value currency have been given time till September 30 to exchange or deposit them.
This translates into an annual return of 40 per cent, suggests a recent note by the World Gold Council.
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
The foreign degree no longer sells itself, families are doing the math, and for many, the numbers just don't add up.
"Heard. Judgement reserved. Learned counsels of the Union of India and Reserve Bank of India are directed to produce the relevant records," the bench, also comprising Justices B R Gavai, A S Bopanna, V Ramasubramanian, and B V Nagarathna, said.
India's top IT services firms delivered single-digit revenue growth in April-June, capping off a mixed, somewhat-sobering quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decisionmaking. Management commentary painted a mixed picture, caution prevailed, yet industry CEOs also emphasised cost optimisation, vendor consolidation, and opportunities in AI makeovers.
They don't just want better returns -- they're looking for global opportunities, more variety and smarter ways to grow their money, says Soubho Moulik, CEO, Appreciate.
