Diabytes
Rs 500 News
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The Reserve Bank of India has confirmed that it is no longer printing banknotes of denominations of Rs 2, Rs 5 and Rs 2000. What happens to these currency notes? Can you use them still? Find out.
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RBI To Withdraw Rs 500 Currency Notes: RBI had decided that all banks and White Label ATM Operators (WLAOs) must ensure their ATMs regularly dispense Rs 100 and Rs 200 denomination banknotes.
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Demonetised notes purchased from across India are smuggled to Nepal.
The notes are then taken to Karachi and Peshawar.
Printing press in the two cities take out RBI's security wire and put them in counterfeit Rs 500, Rs 2000 and Rs 50 notes.
D-Company agents help ISI smuggle the notes.
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The three accused allegedly travelled from Hyderabad and may have been tasked with handing over the bag to someone in Mumbai.
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Unable to dump their old currency notes, devotees are dropping the demonetised notes in donation boxes at Jagannath Temple in Puri and Lingaraja Temple in Bhubaneswar. The deadline for exchange of demonetised notes expired on December 30 last year.
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Rs 1,000 and higher denomination notes were first demonetised in January 1946 and again in 1978. Know more interesting facts.
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The SC had on December 16, last year referred to a Constitution Bench, the issue of validity of government's decision to demonetise currency notes of Rs 1,000 and Rs 500.
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Speaking at The Economist conference, Jaitley said that the fact that money got deposited in banks does not make it legitimate money.
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Finance Minister Arun Jaitley on Wednesday said the government is not considering banning Rs 2,000 notes, and the Reserve Bank will decide on the timing of issuing the new Rs 200 bill.
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The new notes will rather be circulated via bank branches like that in the case of Rs 10, Rs 20 and Rs 50 currency notes.
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It is the first time that the RBI is printing bills of 200 rupees.
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If the report is true then it will be the first time that the RBI would be printing bills of 200 rupees.
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Temporary setbacks notwithstanding, note ban will have a positive development impact in the long term as it accelerates financial deepening, foster financial inclusion and increase transparency, the World Bank has said.
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The new currency note has some very interesting details like the security features, RBI seal and watermarks mentioning Rs 200.
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Dismissing reports on demonetisation of Rs 2,000 notes, Union Minister Kiren Rijiju on Wednesday said it was not possible for forgers to copy all security features of the new currency notes in Rs 500 and Rs 2,000 denominations.
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Reserve Bank of India (RBI) is planning to come out with Rs 200 currency note anytime soon.
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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.
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Reliance Industries Chairman Mukesh Ambani on Saturday lauded Prime Minister Narendra Modi for his demonetisation move and digital drives.
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India`s economic growth is picking up as liquidity conditions normalise in the aftermath of the note ban, said global credit rating business Moody`s Investors Services on Wednesday.
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What could be termed of the biggest cache of fake Indian currency notes seized so far, the Special Cell of Delhi Police busted a racket and seized Rs 18 lakh fake currency in new notes.
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