Rs 2,000

The Rs 2,000 note was introduced in 2016 after PM Modi announced demonetisation of Rs 500 and Rs 1,000 currency notes on November 8, 2016

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The Reserve Bank on Monday advised banks to provide shade from the sun and water to customers waiting to exchange or deposit Rs 2,000 notes.
It can be noted that during the note ban in 2016, there were allegations of customers dying while waiting in queues to exchange bank notes.
Following the Friday's announcement of withdrawing Rs 2,000 notes -- the notes continue to be legal tender unlike demonetisation exercise -- there were  concerns about customers facing inconvenience, especially given the summer being at peak.
Banks are advised to provide appropriate infrastructure at the branches such as shaded waiting space, drinking water facilities, etc. considering the summer season, RBI said in a notification on Monday.
It asked banks to provide the note exchange facility across the counter to the public in the usual manner, that is, as was being provided earlier.
The banking regulator also asked banks to maintain daily data on deposit and exchange of Rs 2,000 notes.

Finance Secretary T V Somanathan

'There will be no impact as these notes are not largely used for transactional purposes anyway'

Finance Minister Nirmala Sitharaman

No instructions have been given to banks for filling or not filling Rs 2,000 notes in Automated Teller Machines (ATMs) as lenders make their own choice for loading of cash vending machines, Parliament was informed on Monday.
As per Annual Reports of the Reserve Bank of India (RBI), the total value of Rs 500 and Rs 2,000 denomination bank notes in circulation as at end-March 2017 and as at March-end 2022 was Rs 9.512 lakh crore and Rs 27.057 lakh crore, Finance Minister Nirmala Sitharaman said in a written reply in Lok Sabha.
"No instructions have been given to banks for not filling Rs 2,000 notes in ATMs. Banks make their own assessment of amount and denominational requirement for ATMs on the basis of past usage, consumer requirement, seasonal trend, etc," she said.
Replying to another question, the finance minister said, total amount of the central government debt/liabilities is estimated at about Rs 155.8 lakh crore (57.3 per cent of GDP) as on March 31, 2023.
Out of this, she sa

King Charles III

King Charles III won't feature on Australia's new $5 bill, the nation's central bank announced Thursday, signaling a phasing out of the British monarchy from Australian bank notes, although he is still expected to feature on coins.
A new Indigenous design will replace the previous portrait of the late Queen Elizabeth II, Australia's Reserve Bank said, a move which honors the culture and history of the First Australians.
The other side of the $5 banknote will continue to feature the Australian parliament," the bank said in a statement.
The $5 bill is Australia's only bank note to feature the monarch.
It said the decision followed consultation with the government, which supported the change.
Treasurer Jim Chalmers weighed in on the decision, saying the change was an opportunity to strike a good balance.
The monarch will still be on the coins, but the $5 note will say more about our history and our heritage and our country, and I see that as a good thing, he told reporters in ...

Supreme Court

The Supreme Court said on Monday the Centre is empowered to demonetise 'all' series of bank notes under Section 26(2) of the RBI Act.
A five-judge Constitution bench headed by Justice S A Nazeer, which upheld the Centre's 2016 demonetisation of Rs 1,000 and Rs 500 currency notes by a 4:1 majority verdict, said a statute must be construed having regard to the legislative intent.
"The power available to the Central Government under sub-section (2) of Section 26 of the RBI Act cannot be restricted to mean that it can be exercised only for one' or some' series of bank notes and not for all' series of bank notes.
"The power can be exercised for all series of bank notes. Merely because on two earlier occasions, the demonetisation exercise was by plenary legislation, it cannot be held that such a power would not be available to the Central Government under sub-section (2) of Section 26 of the RBI Act," the bench, also comprising Justices B R Gavai, A S Bopanna and V Ramasubramanian, ...

Reserve Bank of India, RBI

The Reserve Bank of India (RBI) on Monday told the Bombay High Court it has included several tactile features in currency notes for the visually impaired.
A division bench of Chief Justice Dipankar Datta and Justice M S Karnik was hearing a petition filed by National Association of the Blind (NAB) claiming new currency notes and coins posed difficulty for visually-impaired people in identifying and distinguishing them.
The petitioner's advocate, Uday Warunjikar, on Monday told the court earlier notes and coins were of different sizes and, hence, were easily identifiable.
"The RBI, after filing of this plea, developed a mobile application which could be used by visually impaired people," Warunjikar said.
On Monday, senior counsel Venkatesh Dhond, appearing for RBI, informed the court that apart from developing the application, the RBI had also consulted several associations working for the visually-impaired people.
"The RBI has developed several tactile features in currency notes, 

Security Printing and Minting Corporation of India Limited, under its modernisation initiatives, has set up 'new bank note printing lines' at Currency Note Press, Nashik and Bank Note Press, Dewas

money, notes, cash

The design of these notes is similar in all respects to the Rs 100 bank notes in circulation currently

Arjun Ram Meghwal

Meghwal says no high quality counterfeit new currency notes have been seized by any agency so far

Overseas institutions are also a better bet for Adani. Tapping Indian banks, especially state-run lenders, would be a tad cheaper, but might invite greater political scrutiny ahead of general election

Adani, Adani Group

454 members voted in favour of the Bill, while two voted against it.

Lok Sabha

Tensions have been high since Canadian PM Trudeau on Monday alleged that the Indian government was behind the fatal shooting of Hardeep Singh Nijjar

visa, Canada

Closing Bell on Thursday, September 21: The broad-based selling was led by public sector banks with the Nifty PSU Bank index sliding 2.3 per cent

bear market, sensex, nifty, loss, growth, investment

As they did in June, Fed policymakers at the median still see the central bank's benchmark overnight interest rate peaking this year in the 5.50%-5.75% range

US Federal Reserve

Amazon is India's most visited e-commerce application, and one of the most liked selling platforms for sellers. Here's your guide to sell your product on Amazon India

Amazon

The euro was up 0.1% against the dollar at $1.0667. the yen was up a similar amount at 147.69 to the dollar, with traders out for a Japanese public holiday

US Dollar, dollar

In the midst of these economic challenges, a crisis of confidence is emerging, with growing doubt about the Chinese economy's future

China economy

Has Dholera failed to fulfil its promise? Have smartphones reached the end of their evolution? Will the US Fed derail the rally in Indian equity markets? What is the France-iPhone fiasco? Answers here

TMS Ep522: Dholera, smartphone innovation, France-iPhone fiasco and more

Currently, all carbonated drinks carry a 28 per cent tax rate coupled with a 12 per cent sin tax, totaling 40 per cent

The United States played a pivotal role in helping to create the WHO in 1948. Just over 70 years later, President Trump is withdrawing the country from the agency amid the COVID-19 pandemic. Martial Trezzini/EPA

The fiscal burden of states will increase over time

pensions, funds, retirement, investments, investors, savings

The government introduced the Women's Reservation Bill in the Parliament almost three decades after it was first drafted

Parliament

Former RBI Governor Bimal Jalan said it is better if the person's expertise is considered than whether he/she is a bureaucrat or a private sector executive

TRAI

MEA's statement comes after Canada expelled an Indian diplomat on Monday as it investigates credible allegations that India's government may have had links to the assassination in Canada

Canadian Prime Minister Justin Trudeau arrives for his daily press conference on COVID-19, in front of his residence at Rideau Cottage in Ottawa. Photo: PTI

Justin Trudeau

The government on Monday extended the due date for filing income tax returns by companies by one month till November 30.
Also, the due date for furnishing audit reports by companies who need to get their accounts audited has been extended by one month till October 31.
"The due date of furnishing of Return of Income in Form ITR-7 for Assessment Year 2023-24, which is 31.10.2023 is extended to 30.11.2023, the finance ministry said in a statement.

taxes, tax, taxing, audit

India have been drawn to play Pakistan in the World Group I Play-offs and the Pakistan Tennis Federation (PTF) on Thursday made it clear that it won't agree to shift their home tie to a neutral venue this time.
India had drawn Pakistan in 2019 also but due to "security concerns" the Asia/Oceania Group I tie was shifted to Kazakhstan, a neutral venue.
As a mark of protest, Pakistan's top players Aisam-ul-haq Qureshi and Aqeel Khan had opted not to play the tie in which rookies Mohammed Shoaib, Huzaifa Abdul Rehman and Yousaf Khalil competed for them.
India had expectedly thrashed a weak Pakistan line-up 4-0. In a lop-sided contest, Pakistan won only seven games in the entire tie.
The ITF had agreed to shift the tie to a neutral venue in 2019 but it will be very tough for AITA to convince the world governing body if the national federation pushes for a neutral venue.
Pakistan's veteran player Aqeel Khan told PTI that they are hoping for the Indian team to travel to their nation.
"I

India vs Pakistan

Ipca shares ended the day's trade at Rs 898 apiece, down 1.6 per cent on BSE

Ipca

Jawan movie is doing a whopping collection at the box office; the movie crossed the Rs 500 crore mark in India and is eyeing 1000 crore worldwide. The movie was released on September 7

Jawan movie

At the last close, EMS was valued at Rs 1,553 crore

SJVN

By integrating DALL-E to ChatGPT, OpenAI has the opportunity to solidify its Chatbot platform as a generative AI hub for not just producing original texts but Images, artwork, and more

Heatmap

Bank notes

Rs 2,000 note withdrawn: How important was the note for the Indian economy?

RBI directs banks to provide shade, water to those exchanging notes

Rs 2,000 note scrapped: Won't have impact on economy, says T V Somanathan

No instructions given to banks on loading Rs 2,000 notes in ATMs: FM

King Charles III won't appear on new Australian bank notes: Central bank

Centre empowered to demonetise 'all' series of bank notes under RBI Act: SC

Tactile features included in currency for visually impaired persons: RBI

SPMCIL sets up new bank note printing lines at Nashik and Dewas

RBI to put new series Rs 100 bank note with guv's signature in circulation

New Rs 500, 2000 notes have unique dimension: Arjun Ram Meghwal