Diabytes
Rs 500 notes News
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A viral message about Rs 500 notes being phased out has caused panic among the public. However, authorities have stepped in to clear the air and urged people not to believe in such rumours.
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A video posted on the YouTube channel ‘CAPITAL TV’ has created confusion by claiming that Rs 500 notes will be discontinued by March 2026.
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The fake banknotes, which surfaced on the internet, depict Lord Ram and the Ram Mandir in Ayodhya, replacing Mahatma Gandhi and the Red Fort, respectively.
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In a push to 'Make in India' initiative, the tender document for security features specified that successful bidders will be required to set up the "manufacturing facility" in India within two years from the date of signing of contract and increase the local content in planned manner from the third year.
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9.72 lakh persons have deposited Rs 2.89 lakh crore in 13.33 lakh accounts post demonetisation, the I-T department said.
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Talking about return of 99 percent of junked currency into banking system, Jaitley said that money has now been identified with its owner.
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It also said that barring Rs 100, the detection of counterfeit notes increased across denominations - notably, Rs 500 and Rs 1,000 -- during the last fiscal.
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The Reserve Bank revealed in its annual report for 2016-17 that Rs 15.28 lakh crore, or 99 percent of the Rs 15.44-lakh-crore scrapped currency notes, had come back to the central bank between the government’s demonetisation decision and June 30, 2017.
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The Union government on November 8 last year had demonetised high-value Rs 1,000 and Rs 500 notes, and asked citizens to get them exchanged at the RBI by March 31, 2017.
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Days after a farmer in Madhya Pradesh received Rs 2,000 notes from a bank without the image of Mahatma Gandhi, an ATM at a village in Khargone district dispensed two 'one-side blank' currency of the new Rs 500 denomination.
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Australian government has advised its citizens travelling to India to ensure their trip is planned in such a way so as not to depend on the availability of cash, claiming that some visitors are facing difficulties in exchanging 100 dollar notes in India after demonetisation.
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This will be PM Narendra Modi's second address to the nation since his announcement in a similar address on November 8 to scrap Rs 1,000 and Rs 500 notes.
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The Bharatiya Janata Party (BJP) has said that the ordinance to make possession of a large number of scrapped banknotes a penal offence, making holding of old Rs 1,000 and 500 notes after March 31 beyond a threshold amount a criminal offence, has been brought in order to prevent the hoarding of such notes.
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The Reserve Bank on Wednesday said banks have issued currency worth over Rs 5.92 lakh crore to the public since the demonetisation of old high value notes last month.
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RBI has decided to place certain restrictions on deposits of old Rs 500 and Rs 1000 notes into bank accounts.
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Share Bazar, Mandi Live, Aap Ka Bazar, First Trade, Big Debate etc.
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From Friday, the old Rs 500 note can no longer be used for paying utility bills, school fees and fees in Central or State Government colleges, recharging pre-paid mobiles or anything.
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The Reserve Bank of India has infused more than Rs 5 trillion (USD 73.66 billion) of currency notes into the banking system since Nov 8.
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