News at a Glance
Economic Survey: cash shortage will continue for several months
As on 31st March 2016, the number of currency notes issued by the Reserve Bank of India Rs. 500/- currency notes is Rs.1571 Crores. This is 48 percent of the total currency in circulation.
Posted On :17/Nov/2016 2:36:44 PM
People making multiple cash deposits in their bank accounts must quote PAN
According to the Reserve Bank of India circular issued on Wednesday, deposits made between November 9 and December 30 will require quoting of PAN if the combined sum deposited exceeds Rs.2.5 lakh.
Posted On :17/Nov/2016 12:52:27 PM
Security features in the Mahatma Gandhi 1996 series of banknotes
The series of Mahatma Gandhi 1996 banknotes have been laden with more security features than those issued before. Here are some of them.The Rs. 10, Rs. 20 and Rs. 50 notes have a fully embedded security thread.
Posted On :17/Nov/2016 11:58:37 AM
Old notes exchange limit cut to Rs.2000
Now the government has announced that people can only exchange Rs 2,000 in cash over the counter in banks. The government has announced the following:From Friday, people can only exchange Rs 2,000 in cash.
Posted On :17/Nov/2016 11:21:06 AM
It is illegal to keep Rs 500 and Rs 1000 notes after 31st March
Keeping of void Rs 500 and Rs 1000 notes after 31st March 2017 will be treated as illegal. The Central Government has informed the Supreme Court that very soon an act will promulgated with regard to this.
Posted On :17/Nov/2016 10:38:02 AM
All about coin minting
Coin minting is a long process involving a lot of steps. This article talks about the contemporary methods in coin minting.To start with, the coin is designed by an artist and a first sketch is prepared.
Posted On :16/Nov/2016 5:43:55 PM
No ID proof needed for exchange of old currency notes
The Reserve Bank of India, RBI, has asked not to collect photocopies of identities while exchanging old currency notes. In an official email, RBI said, The guidelines only require customers.
Posted On :16/Nov/2016 5:18:04 PM
Exciting, yet affordable overseas destinations for Indians
Indians presume that every overseas destination they desire to travel to will burn more from their pockets, as the value of Indian rupee is looked upon to be of very low value. This however is merely a myth.
Posted On :16/Nov/2016 3:25:03 PM
The Road to paper money in India
Currency in India can be traced back to as long as the 6th Century BC. Let�s go back in history and trace the origins of money in our country.Along with the Chinese and the Middle Eastern Lydians, Indians were the earliest issuers.
Posted On :16/Nov/2016 3:07:00 PM
Indelible ink to mark fingers of people exchanging demonetized notes
It is understood that in Tamil Nadu for those who exchange cash at bank branches would receive an indelible ink mark on their finger. This work will commence in a day or two.The Centre has announced that.
Posted On :16/Nov/2016 2:35:45 PM
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