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RBI to Bring Back Rs 1000 with New Look and Enhanced Security Features

RBI to Bring Back Rs 1000

The Reserve Bank of India may soon issue new Rs 1000 denomination bank note with a new design and enhanced security features compared to its predecessor.

After launching Rs 200 note for the first time in history, RBI also plans to issue new Rs 1000 currency notes which had discontinued last year during Prime Minister Modi’s demonetization move. According to close sources, the printing of the Rs 1000 denomination will soon start to fill the gap between the existing Rs 500 and Rs 2,000 notes.

A person close to the development said,” Printing of Rs 2,000-denominated notes stopped at least six months ago, and now the Rs 200 notes are getting printed at these presses. Next in line for printing is the Rs 1,000 note.”

The brand new Rs 1000 currency notes are printed by printing presses at Mysore and Salboni with improved security features. Nearly, 99% of the demonetized Rs 1000 notes came back to the banking system at the end of March 2017.The circulation of new Rs 1000 notes could be as early as December 2017.

200 rupees notes printing begins at government-owned mint: To be out Soon

The Reserve Bank of India issued new Rs 200 notes last week. The supply of the bright yellow Rs 200 notes will slowly incline, and the new currency note will be made available across India.

With the release of first-time Rs 200 notes is expected to address the liquidity issue and also decrease the load on the Rs 100. Long queues of peoples are gathered at the RBI offices to get Rs 200 note first time issued by central government.  The aim is to make the common man transact in lower currencies.

Recently, RBI also announced new Rs 50 currency notes in fluorescent blue. The old Rs 50 notes in the earlier series will remain a legal tender. However, ATM’s will not dispense the new notes Rs 200 and Rs 50 due to their dimensions.

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200 rupees notes printing begins at government-owned mint: To be out Soon

200 rupees notes

200 rupees notes: The central bank has begun to print 200 rupees notes to help ease consumer transactions. New Rs. 200 notes are being printed in government-owned mint as per the Reserve Bank of India (RBI) orders a few weeks ago.

Introducing Rs-200 currency notes hints the government’s decision to withdraw higher denomination notes overnight. Just like the demonetization implemented back in November, this could be another step from the federal government to stop counterfeiting and untaxed cash in the country.

Earlier, the RBI board had accepted the proposal to issue Rs 200 denomination banknotes. However, the government of India has also believed this step would make citizens transact easy.

“For day-to-day transaction purposes, the introduction of 200 rupee notes will add to the ease of operations,” says Soumya Kanti Ghosh, Chief Economist, SBI Group.

Demonetization Effect: Residential Properties Will Drop in the Next Couple of Quarters

There were around 1,650 crore pieces of Rs 500 notes in circulation before the announcement of demonetization on November 8. Followed by that, a large gap in the value of notes in circulation has occurred.

“A minor part of that has been replenished by 2000 rupee notes and a larger part by the new 500 rupee notes, though not in full. The introduction of 200 rupee notes will replenish the missing middle, triggered by the withdrawal of the old series of 500 rupee notes,” said Ghosh.

This lower denomination Rs. 200 notes help the government to realign the currency mix in the system. At present, these notes are undergoing various security and quality checks at the press unit at Hoshangabad (Madhya Pradesh).

The currency notes printing will be done either in government-run Security Printing and Minting Corporation of India Ltd or at government printing presses in Mysore (Karnataka) and Salboni (West Bengal), managed by the RBI-owned Bharatiya Reserve Bank Note Mudran Private Ltd.

RBI Grade B Phase 2 Admit Card 2017 Released:Download Phase II Officer Hall Ticket @ rbi.org.in

RBI Grade B Phase 2 Admit Card

The RBI Grade B Phase 2 Admit Card 2017 has released. Candidates who have qualified in the Phase I Exam can check these latest updates. The Officer Phase I Examination is held on June 7 and huge number of candidates had appeared the test. Now, it is the time to download RBI Officer Grade B Hall Ticket from official website at rbi.org.in

Authorities are going to conduct Phase II Examination on July 7, 2017 to fill 161 Officer Grade B Posts. Aspirants seeking for Latest Bank Jobs have to follow the instructions carefully. Candidates are supposed to download RBI Officer Phase II Call Letter 2017 from online portal at rbi.org.in. Everyone must carry the hall ticket to exam venue. While downloading the admit card applicants need to provide their Application ID & DOB (DD-MM-YY).

KPSC Group B C Recruitment 2017 Released Karnataka Teacher 3376 Jobs 

Reserve Bank of India (RBI) was established in the year 1935. It is India’s Central Banking institution, which controls the monetary policy of the Indian Rupee. The RBI operations started during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934. According to this information every year officials releases notification as per the vacant posts. Recently, RB Grade B Officer Notification 2017 disclosed.

As per the schedule, Phase I is held on June 7 and now it is the time to participate in the Phase II Examination. Candidates download the RBI Grade B Phase 2 Admit Card 2017 from online portal at rbi.org.in. It consists of details like Exam Date, Instructions, Roll Number, Name, Photo and address. Applicants need to check RBI Grade B Phase II Exam Dates from the hall ticket.

Along with the RBI Grade B Phase 2 Admit Card 2017 candidates need to carry on Original ID Proofs also. The active link of hall ticket is available at the end of this article. Total exam is for 300 marks. There are three papers. Paper I is Objective type for 100 marks, Paper II is descriptive (typing) for 100 marks and Paper III is Objective for 100 marks. Therefore, the procedure to downloading hall ticket has given below and more details may furnish soon.

Organization Name Reserve Bank of India
Official Site Rbi.org.in
Post Name Officer Grade B
Total Vacancies 161
Phase-II Exam Dates 07.07.2017
Category Admit Card

Steps to download RBI Phase II Admit Card

  • Refer the online web portal rbi.org.in
  • Log in for Phase II admit card option
  • Then a new window will open
  • Enter Application ID and password then press ok
  • Admit card appears on the screen
  • Download and save a copy for future reference

RBI Grade B Officer Phase II Admit Card 2017 Click Here

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RBI removes the limit on cash withdraw in the country

limit on cash withdrawal

Reserve Bank of India has lifted the weekly cash withdraw limits across the country. The limits were imposed as an effect of demonetization of old 500 and 1000 currency notes. The Prime Minister initiative is gradually eased over the period.

Banks across the country did not allow their customers to withdraw exceeding Rs 50,000 per week until last week. Reports say, bankers estimated that the cash withdrawal limit would be lifted by the end of February.

Also Read : SBI, HDFC, ICICI, Axis Bank complete Details about the Revised Charges April 1 2017

Finance Minister Arun Jaitley announced that new currency worth more than Rs 12 lakh crore was in circulation. Considering the Comparison, banned Rs. 500 and Rs. 2000 notes value Rs 15.44 lakh crore as of 8 November, a day before the banknotes ceased to be legal tender.

In the interim, Finance Minister and the RBI continued silence on the exact value or number of banned notes returned. Arun Jaitley answered a question in parliament and said that it was difficult to provide an exact figure of defunct Rs 500 and Rs 1,000 notes deposited so far.

“Every currency note has to be verified – whether it is genuine or fake. Then the genuine and fake notes have to be segregated. It is a very large exercise. Once the RBI completes the exercise, we will inform the House of details,” he said.

Also Read:RBI has launched a mobile app for Android and iOS users

The demonetization move seems to be a risky move just a couple of months before the polls of five-state Assembly. Never the less, BJP has swept the Uttarakhand and Uttar Pradesh and is also set to form governments in Goa and Manipur.

BJP leaders have credited the last year’s surgical strikes and demonetization move as two factors responsible for the party’s victory.