India Currency
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Reserve Bank Of India To Lease Currency Verification Systems To Weed Out Fakes
The Reserve Bank will hire 12 currency verification systems for six months to help it segregate fake ones from scrapped notes of Rs 500/1000 denomination.
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11 Of 17 Security Features Of Rs 2,000 Note Cracked. Centre Draws A Plan
To check counterfeiting, the government plans to change security features of higher denomination banknotes of Rs 2,000 and Rs 500 every 3-4 years in accordance with global standards. The move comes in the wake of recovery of a large amount of fake Indian currency notes in last four months after demonetisation.
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State Bank of India Leads The Way With Rate Cuts, Congress, Trinamool Not Impressed
A day after Prime Minister Narendra Modi appealed to banks to make loans easily available to "the poor, lower middle class and the middle class," three public sector banks lowered their lending rates.
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On November 8, Reserve Bank Had A Third Of Money Being Banned In New 2,000-Rupee Notes
On November 8, the day Prime Minister Narendra Modi announced that Rs 100 and Rs 500 notes will be scrapped, the Reserve Bank had Rs 4.94 lakh crore in 2,000-rupee notes in its possession. This is roughly 30 per cent of the Rs 15.44 lakh crore that was circulating in 500 and 1,000 rupee notes at the time.
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At Axis Bank Noida Branch, 20 Fake Accounts Found With Over 60 Crore Deposits Since Notes Ban
In raids at an Axis bank branch today, tax officials found fake accounts where over 60 crores had been deposited since the notes ban was announced last month.
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Notes Ban: Foreign Diplomats Can Now Get Money From Bank On Priority
Facing complaints from several embassies on the cash crunch after the notes ban announced last month, the government has instructed banks to allow foreign diplomats to withdraw money on a priority basis.
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Situation 'Not Absolutely Normal' But Ready For Pay Day, SBI Tells NDTV
As banks across India, hit by the cash shortage, gear up for pay day, a top official of the State Bank of India or SBI has claimed that India's largest bank is prepared for the rush.
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Warning Issued To Private Jets Over Being Misused To Fly Banned Notes
India has threatened to punish private jet operators that fly to small and remote airports without police clearance as Prime Minister Narendra Modi tries to plug loopholes in his campaign against unaccounted money.
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Bank Staff Gets Some Respite With End Of Old Currency Exchange
The overstretched bank staff across the country heaved a sigh of relief with one burden of demonetisation off their shoulders from Friday: That of exchanging old Rs 500 and Rs 1,000 notes.
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Banks Open Special Counters At Chennai Airport For Passengers
Public and private sector banks banks have set up special counters at the airport in Chennai to facilitate exchange of banned high value currency notes to help the passengers.
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Modi Keynote Is a Joke, Not a Currency Authentication Tool That You Should Take Seriously
Modi Keynote, a prank app that claimed to verify if a Rs. 2000 note is fake or not, confused many users in India before being removed from Google Play store.
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Fields Left Vacant As Punjab Farmers Queue Up For Cash; Labourers Unpaid
It's a race against time for farmers in Togan village on the outskirts of Punjab's Mohali. Instead of sowing in the fields, many have queued up outside banks and ATMs to exchange their old 500 and 1,000 rupee notes which are now defunct.
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Pakistan Rubbishes Rumours Of India-Like Currency Ban: Report
Pakistan won't go the India way. It will not demonetise Rs 5,000 notes or withdraw Rs 40,000 prize bonds, the media reported today.
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IMF Supports India's Big Currency Move To Fight Corruption
The IMF said on Thursday it supports India's efforts to fight corruption through the currency control measures announced this week, but stressed taking care to minimize disruptions in the economy.
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In A Foreign Country, Indian Diaspora Stumped By Surprise Currency Ban
India's shock move on Tuesday to withdraw large denomination bank notes from circulation to fight corruption and tax evasion has left some overseas citizens high and dry, as money changers in key Asian centres stopped accepting the currency.
-
Reserve Bank Of India To Lease Currency Verification Systems To Weed Out Fakes
The Reserve Bank will hire 12 currency verification systems for six months to help it segregate fake ones from scrapped notes of Rs 500/1000 denomination.
-
11 Of 17 Security Features Of Rs 2,000 Note Cracked. Centre Draws A Plan
To check counterfeiting, the government plans to change security features of higher denomination banknotes of Rs 2,000 and Rs 500 every 3-4 years in accordance with global standards. The move comes in the wake of recovery of a large amount of fake Indian currency notes in last four months after demonetisation.
-
State Bank of India Leads The Way With Rate Cuts, Congress, Trinamool Not Impressed
A day after Prime Minister Narendra Modi appealed to banks to make loans easily available to "the poor, lower middle class and the middle class," three public sector banks lowered their lending rates.
-
On November 8, Reserve Bank Had A Third Of Money Being Banned In New 2,000-Rupee Notes
On November 8, the day Prime Minister Narendra Modi announced that Rs 100 and Rs 500 notes will be scrapped, the Reserve Bank had Rs 4.94 lakh crore in 2,000-rupee notes in its possession. This is roughly 30 per cent of the Rs 15.44 lakh crore that was circulating in 500 and 1,000 rupee notes at the time.
-
At Axis Bank Noida Branch, 20 Fake Accounts Found With Over 60 Crore Deposits Since Notes Ban
In raids at an Axis bank branch today, tax officials found fake accounts where over 60 crores had been deposited since the notes ban was announced last month.
-
Notes Ban: Foreign Diplomats Can Now Get Money From Bank On Priority
Facing complaints from several embassies on the cash crunch after the notes ban announced last month, the government has instructed banks to allow foreign diplomats to withdraw money on a priority basis.
-
Situation 'Not Absolutely Normal' But Ready For Pay Day, SBI Tells NDTV
As banks across India, hit by the cash shortage, gear up for pay day, a top official of the State Bank of India or SBI has claimed that India's largest bank is prepared for the rush.
-
Warning Issued To Private Jets Over Being Misused To Fly Banned Notes
India has threatened to punish private jet operators that fly to small and remote airports without police clearance as Prime Minister Narendra Modi tries to plug loopholes in his campaign against unaccounted money.
-
Bank Staff Gets Some Respite With End Of Old Currency Exchange
The overstretched bank staff across the country heaved a sigh of relief with one burden of demonetisation off their shoulders from Friday: That of exchanging old Rs 500 and Rs 1,000 notes.
-
Banks Open Special Counters At Chennai Airport For Passengers
Public and private sector banks banks have set up special counters at the airport in Chennai to facilitate exchange of banned high value currency notes to help the passengers.
-
Modi Keynote Is a Joke, Not a Currency Authentication Tool That You Should Take Seriously
Modi Keynote, a prank app that claimed to verify if a Rs. 2000 note is fake or not, confused many users in India before being removed from Google Play store.
-
Fields Left Vacant As Punjab Farmers Queue Up For Cash; Labourers Unpaid
It's a race against time for farmers in Togan village on the outskirts of Punjab's Mohali. Instead of sowing in the fields, many have queued up outside banks and ATMs to exchange their old 500 and 1,000 rupee notes which are now defunct.
-
Pakistan Rubbishes Rumours Of India-Like Currency Ban: Report
Pakistan won't go the India way. It will not demonetise Rs 5,000 notes or withdraw Rs 40,000 prize bonds, the media reported today.
-
IMF Supports India's Big Currency Move To Fight Corruption
The IMF said on Thursday it supports India's efforts to fight corruption through the currency control measures announced this week, but stressed taking care to minimize disruptions in the economy.
-
In A Foreign Country, Indian Diaspora Stumped By Surprise Currency Ban
India's shock move on Tuesday to withdraw large denomination bank notes from circulation to fight corruption and tax evasion has left some overseas citizens high and dry, as money changers in key Asian centres stopped accepting the currency.
