Fake Indian currency notes are being used by Pakistan-based terror groups for financing their activities in India, the Lok Sabha was informed on Monday.
The bank manager clarified to him that the currency was genuine and there might have been a printing error.
It seems that the 'republic' of Bellary, as it is often called, has no value for money. A year ago, currency notes worth Rs 4 crore were found burnt in this mining district of Karnataka. If you thought it couldn't get worse, 400 gunny sacks stuffed with shredded notes worth Rs 4 crore were found in a plywood factory in Bellary on Tuesday.
On a tip-off from intelligence agencies, the Crime Branch team apprehended Ajit Pal Singh and Rajender Singh on Thursday evening, said a senior police officer.
Foreign investors pulled out Rs 4,285 crore from Indian equities in the first three trading days of the month driven by apprehensions ahead of the third-quarter earnings season and high valuations of domestic stocks. This came following an investment of Rs 15,446 crore in the entire December, data with the depositories showed.
The accused, along with other unknown officials, who were entrusted with the responsibility of new currency notes, "fraudulently" gave away new notes to the tune of Rs 1.99 crore to RBI officials and others.
The common man wants the government to demonetise high denomination currency notes like Rs 1,000 and Rs 500 to effectively combat the menace of black money in the country, a finance ministry report has revealed.
Akhilesh said cases of graft involving new currency notes are already making news in some parts of the country.
Abuse of power, financial misconduct, and the never-ending turf wars are now coming to light as Boxing Federation of India's officials jostle to escape blame for the shocking turn of events.
Heeraben Modi, who had to use the help of a wheel chair and other people to reach the bank, exchanged Rs 4,500.
In a big win for the Narendra Modi government, the Supreme Court in a 4:1 majority verdict on Monday gave its stamp of approval to the Centre's 2016 decision to demonetise the Rs 1,000 and Rs 500 denomination currency notes, saying the decision-making process was neither flawed nor hasty.
A five-judge Constitution bench headed by Justice S A Nazeer, who will retire on January 4, is likely to pronounce its verdict on the matter on the said date.
LTIMindtree's (LTIM's) December quarter revenue, at $1.139 billion, was up 1.8 per cent quarter-on-quarter (Q-o-Q) (5.6 per cent year-on-year or Y-o-Y) in constant currency (CC) terms, marginally ahead of expectations.
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".
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
The notes, kept in about a dozen currency chests of commercial banks in Mumbai, are now being dried and counted before being shredded by the Reserve Bank of India.
The annual cash offerings of the hundi in the just ended calendar year have even crossed Rs 1000 crore
Crypto currency platform WazirX, a cyber-attack on July 19 this year in which nearly 40 lakh Indians have suffered a loss of to a tune of $230 million or Rs 19.12 billion, has moved the Singapore high court seeking a moratorium in any legal action against it and for legal protection.
What was recovered from Bhajiawala family: Rs 1.45 crore cash, of which about Rs 1.05 crore was in new currency notes, bullion worth Rs 1.49 crore, gold jewellery valued at Rs 4.92 crore, other ornaments worth Rs 1.39 crore and silver ingots priced at Rs 1.28 crore.
Overall, volume growth is likely to be in the range of 3-8 per cent for two-wheelers and 5-7 per cent for passenger vehicles owing to healthy demand from urban and rural areas and pending order books.
The seizure occurred during raids at eight premises of a group engaged in sand mining in Tamil Nadu.
The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre. It further said the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, should be completed by December 15, 2023.
In Mumbai, police seized Rs 1.40 crore from three persons in new Rs 2,000 notes.
One of the earliest issuers of coins in the world, India has an illustrious history of coinage and currency notes.
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
Work in mandis across UP and in northern India which till Tuesday, witnessed heavy arrivals of newly harvested paddy, saw a steep decline.
The Modi government's decision to demonetise Rs 500 and Rs 1,000 banknotes will drive up interest in the bullion market
Police seized 100 fake notes of old Rs 500 denomination from Burhanuddin, who first claimed to be a Mumbai resident.
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 Central Bank has stonewalled almost every RTI query pertaining to demonetisation citing one or the other reason.
After the Ganesh Utsav ended on Friday, the donation box at Mumbai's famed Lalbaug Cha Raja pandal was opened on Monday, September 12, 2022.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Opposition parties are holding nation-wide protests against the currency ban on Monday as part of the Jan Aakrosh Diwas to agitate against demonetisation.
From bhikshus of Ashokan 3rd century BC and medieval Sufis to Oxfam, Omidyar and Soros now, non-State actors have any real power only when they work in conjunction with a real State, asserts Shekhar Gupta.
"On demonetisation, across the board for pretty much all of industry, and CPG (Consumer Packaged Goods) in particular because it hit the individual retailer significantly, demonetisation had a significant impact on our India business in Q4," Nooyi said during an earnings call for Pepsi's fourth quarter that ended on December 2016.
On November 8, 2016, Prime Minister Modi had announced the decision to withdraw Rs 500 and Rs 1,000 denomination notes with the ultimate aim of reducing corruption and black money in the economy.
He also criticised the Centre's ambitious Ahmedabad-Mumbai bullet train project and dubbed it an exercise in vanity.
The agency sources said that the CBI has registered a case against officials of four banks -- State Bank of India, State Bank of Mysore, ICICI Bank and Kotak Mahindra Bank.
The premises are alleged to be of the domestic help of Jharkhand Rural Development Minister Alamgir Alam's personal secretary Sanjiv Lal.
