Wednesday 4 October 2017

New Rs 100 note coming in April, old notes to be withdrawn gradually

This is the 4th denomination that has been revamped since the government's demonetization on November 8.
The bank of India (RBI) can shortly unleash Rs 100 denomination banknotes within the nationalist leader (New) Series, having the signature of Governor Urjit R Patel. However, the Rs 100 banknotes within the earlier series can still be a monetary system.

per Mint, run batted in can begin printing new Rs 100 notes in Gregorian calendar month (once Rs 200 notes are printed), whereas the present notes are withdrawn from the market bit by bit while not inflicting any disruption.

this can be the fourth denomination that has been revamped since the government's demonetization on Nov 8 last year. Earlier, new notes of Rs a pair of,000, Rs 500 and Rs 200 notes were introduced.
the size of latest Rs 100 notes won't modification. Previously, the new Rs a pair of,000 and Rs 500 notes caused lots of bother to the run batted in and alternative stakeholders as ATM machines had to be recalibrated to accommodate the new dimension of the currency notes.

Fake currency: The redesigning of the notes is being done to curb circulation of Fake currency, 2 officers of run batted in same.
Rs two hundred note

In August, the run batted in launched Rs 200 note. in an exceedingly statement free on its web site then, the run batted in same, "To reach the best system of currency that will minimise the quantity of denominations whereas increasing the likelihood of proffering actual modification, particularly at the lower finish of denominations, there's a logical got to introduce the missing denomination of Rs two hundred, which can build the current currency system a lot of efficient".

Provision of the new denomination, therefore, would facilitate exchange, significantly for the somebody World Health Organization deals with denominations at the lower end", it additional side.

In Nov 2016, India had illegal the recent Rs 500 and Rs 1,000 denomination currency notes in an effort to flush out undeclared wealth. the 2 denominations along accounted for 86 p.c of the currency in circulation at that point and their long demonetization created chaos across the country particularly as a result of the availability of latest notes took time.

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1 comment:

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