Advocating the move, home ministry officials said most of the developed countries change the security features of their currency notes every 3-4 years and therefore, it is absolutely necessary for India to follow this policy.
India on Thursday sought strengthening of SAARC monitoring desks on terrorism and drugs, underlining that illicit funds generated from narcotics and fake currency networks are being fed into supporting terror activities
'The more harder India pushes its nationalism on to its population, the further away we send Kashmiris.' 'We should understand that the unrest in that state cannot be solved by demonetisation. There are much deeper causes,' says Aakar Patel.
'In the coming months, expect more government action that will be packaged as an assault on black money,' warns A K Bhattacharya.
'People are willing to face temporary inconvenience as they are determined to support PM Modi's crackdown on black money,' Commerce Minister Nirmala Sitharaman tells Archis Mohan.
'Alas, in this scheme there is nothing to stop the black money flows of the future.' 'On the contrary Modi has sown the seeds of more, through the issue of Rs 2,000 notes.' 'But have you heard one politician decrying this aspect of the scheme?' 'They must be secretly rejoicing that while Modi is taking away their past, he has not shut the door on their future,' says banker S Muralidharan.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
'The High Commission would like to categorically deny speculative reports in sections of media and social media about #India sending her troops to Sri Lanka. These reports and such views are also not in keeping with the position of the Government of #India,' the Indian mission said on Twitter.
Raids are being carried out across the country by the Income Tax department in the wake of the burgeoning fake currency racket post demonetisation, as currencies both new and old have been seized in large amounts from Bengaluru, Panjim and Faridabad besides the national capital.
Only Rs 16,050 crore out of the Rs 15.44 lakh crore of the old high denomination notes have not returned.
The Reserve Bank of India on Thursday said banknotes in circulation witnessed higher than average increase during 2020-21, on account of precautionary holding of cash by people due to the COVID-19 pandemic, and its prolonged continuance. The value and volume of banknotes in circulation increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21, as against an increase of 14.7 per cent and 6.6 per cent, respectively, witnessed during 2019-20, said the RBI annual report. In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 85.7 per cent of the total value of banknotes in circulation as on March 31, 2021, as against 83.4 per cent as on March 31, 2020.
Although 90 per cent of the currency chests are with the public sector banks, they account for reporting a mere 10 per cent of counterfeit notes.
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.
The damaged drone was recovered in Mahawa village based on the information given by one of the four people the state police arrested on Sunday.
In the search, Rs 60 crore were found in 20 accounts of as many shell companies, an official said, adding the I-T team was scanning the records to trace the directors of these companies.
India on Sunday said it stands with the Sri Lankan people in their aspirations for prosperity and progress through democratic means, established institutions and constitutional framework.
Damage from new shenanigans can be contained if regulators move quickly when something does not smell right, counsels Debashis Basu.
Some genius assumed that a 2,000 note could seamlessly replace 500s and 1000s in ordinary transactions. If that genius had consulted an actual chai-wallah, he might have thought twice, argues Devangshu Datta.
The intelligence wing of Central Board of Excise and Customs has 532 officers and staff, he said, adding, the staff strength of DRI will double when cadre review is completely rolled out.
Hence, the claims by the Government that this will end the menace of black money and corruption are simply outlandish. Also, the simultaneous introduction of Rs 2,000 note undermines their claim and it simply does not fit the storyline of an attack on black money and corruption.
The two officials, Abid Hussain and Muhammad Tahir, were caught by the Special Cell of the Delhi Police from central Delhi's Karol Bagh while they were obtaining sensitive documents relating to India's security installations from an Indian national in exchange of money, official sources had said on Sunday.
Expecting fireworks in both Houses during the Winter Session of Parliament starting from Wednesday -- with the opposition planning to target the government on several issues, including demonetisation -- the Bharatiya Janata Party Parliamentary Party Executive will go into a huddle on Monday to chalk out strategy to counter the opposition which is divided over how to take on the government on the issue.
The theory that all banned notes will come back into the system may not be true. Anup Roy finds out.
Modi took on the opposition parties, especially the Congress, saying it is the corrupt who are sleepless now.
Shridhar Madhav Patankar, the brother of Thackeray's wife Rashmi, "owns and controls" Shree Saibaba Grihanirmiti Private Limited, it said.
Promising Australia fast bowler Jhye Richardson was left "excited as well as exhausted" after he earned a life-changing bid of Rs 14 crore from Punjab Kings at Thursday's IPL players' auction.
Here's the full text of Prime Minister Narendra Modi's address to the nation where he announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight on November 8-9.
T K S Elangovan has alleged senior bank officials forged documents and faked authorisation from the RBI, to transport huge sums of hawala money during recent elections in the state.
Govt sets up task force to monitor circulation of fake currency; suspicious Jan Dhan accounts under scanner.
Sources say that there has been a lot of difference between the fake currency that used to be printed a year ago and what is available now, following the leak of the design. Investigations have revealed that the design may have been compromised through a D-company link, which is completely in charge of circulating fake currency in India.
A WGC survey says that there is no dearth of gold demand, but there is lack of trust among prospective gold buyers, not only in India but globally.
Piloting the Specified Bank Notes (Cessation of Liabilities) Bill, Finance Minister Arun Jaitley said it will extinguish the government's liability towards scrapped notes and also eliminate the possibility of their bring used as parallel currency.
India said it firmly believes that a peaceful and secure neighbourhood will yield "rich dividends" for SAARC nations.
'Shraddha tries hard to rescue the film, but the script totters so badly in the second half that any salvage seems impossible,' says Syed Firdaus Ashraf.
The Jammu and Kashmir administration on Wednesday sacked police constable Tawseef Ahmed Mir, who has been accused of actively working for Hizbul Mujahideen and trying to kill two of his colleagues, and four more employees for alleged links with terror groups.
Yasin Bhatkal, one of India's most dreaded terrorists, has been detained at the Indo-Nepal border.
Smuggling and crime are everyday instances. The 70,000 people in villages along the border make the going tough for the BSF. Neelabh Srivastava reports
'I reported to two people at the Pakistan High Commission in Colombo and informed them about my reconnaissance activities, which I carried out under the guise of being a footwear exporter. I photographed various sensitive locations, including nuclear stations and the US consulate in Chennai.' These comments made by alleged ISI spy Zaheed Hussain reveal how Pakistan is playing an active role in spreading terror in the country. Vicky Nanjappa presents an excerpt of his confession.
Demonetisation is not the end but the beginning of a "long, deep and constant" battle against black money and corruption and will benefit the poor and the common man, Prime Minister Narendra Modi on Tuesday said as the BJP parliamentary party passed a unanimous resolution endorsing his "great crusade".
Prithviraj Hegde explains the first results of the demonetisation exercise in layman terms.
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