Govt admits Rs 2,000 notes led to hoarding of black money, says no new notes printed since April 2019

News Network
March 15, 2021

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New Delhi, Mar 15: Indirectly admitting that the introduction of Rs 2,000 contributed towards black money, the government of India today said that no new Rs 2,000 notes have been printed since April 2019, in an attempt to prevent its hoarding and curb the circulation of black money in the economy.

In a written reply in Lok Sabha, minister of state for finance Anurag Thakur said that printing of banknotes of a particular denomination is decided by the government in consultation the Reserve Bank of India (RBI) to maintain desired denomination mix for facilitating transactional demand of the public.

"During the years 2019-20 and 2020-21, no indent has been placed with the presses for printing of Rs 2,000 denomination banknotes," he said.

The move comes even as the quantum of the highest denomination currency note has reduced in the economy.

The minister informed the Parliament that 3,362 million currency notes of Rs 2,000 denomination were in circulation on March 30, 2018. However, as of February 26, 2021, only 2,499 million pieces of Rs 2,000 notes were in circulation.
While, currency in terms of volume reduced from 3.27 per cent to 2.01 per cent, that in terms of trade fell from 37.36 per cent in March 30, 2018 to 17.78 per cent in 2021.

Rs 2,000 notes came into circulation in November 2016 after the government announced demonetisation and withdrew notes of Rs 500 and Rs 1,000 in an attempt to curb black money and fake currencies.

While a new Rs 500 note was printed, Rs 1,000 currency notes were discontinued. Instead, Rs 2,000 note was introduced.

In 2019, the RBI had stated that 3,542.991 million notes of Rs 2,000 were printed during the financial year 2016-17 (April 2016 to March 2017).

However, the number kept on reducing and only 111.507 million notes were printed in 2017-18, which further reduced to 46.690 million notes in the year 2018-19.
 

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News Network
May 10,2024

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The Supreme Court Friday granted interim bail to Delhi Chief Minister Arvind Kejriwal till June 1 in the excise policy case.

The top court, however, stated that it will be passing a detailed order over the matter soon.

On Thursday, the Enforcement Directorate had opposed the move to grant interim bail to Kejriwal saying that “any special concession” to him will “amount to anathema to the rule of law and equality… thereby creating two separate classes in the country viz. ordinary people, who are bound by the rule of law as well as the laws of the country, and politicians who can seek exemption from the laws”.

The ED had arrested Kejriwal on March 21 in the excise policy case.

“The right to campaign for an election is neither a fundamental right nor a constitutional right and not even a legal right,” the ED said, maintaining that to its knowledge, “no political leader has been granted interim bail for campaigning even though he is not the contesting candidate”.

After the ED filed its affidavit, the AAP, in a press release, said, “The legal team of Delhi Chief Minister and AAP National Convenor, Shri Arvind Kejriwal, has raised strong objection to the affidavit filed by the Enforcement Directorate opposing interim bail in the Supreme Court.”

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News Network
May 17,2024

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Hubballi, May 17: Karnataka Police have arrested the killer, Vishwa, also known as Girish, in the sensational Anjali Ambigera murder case, police said on Friday.

Preliminary investigations reveal that Vishwa was a habitual thief who exploited innocent young women. The accused is also a drunkard and was caught while attempting to commit theft. He was also part of a gang which stole bikes.

The accused targeted gullible young women, enacting a drama of love and playing the emotional card to forcefully extort gold, silver, and cash from them. When Anjali did not agree to any of his attempts to rob her and outrightly rejected his offer to go with him to Mysuru city, he brutally killed her.

The police had formed two teams to hunt down the killer. One of the teams was searching in the south Karnataka region, and another team, which launched a hunt in Davanagere, nabbed him. The accused was arrested by the police on Thursday.

The police could not catch him sooner as the killer did not carry a mobile phone and did not use his phone for 15 days, before murdering Anjali. The jurisdictional Bendigeri Police were aware of the killer's history, but even after the complaint by the girl’s family, they showed "utter negligence".

The 24-year-old Vishwa entered Anjali Ambigera's (20) residence at 5.30 A.M. on Wednesday and stabbed the young woman multiple times before she could react. Vishwa dragged Anjali Ambigera all over the house, kicking and stabbing her. Later, he pushed her into the kitchen where he stabbed her repeatedly.

Despite efforts by Anjali’s grandmother and two sisters to stop the attacker, he killed her and managed to flee. The incident occurred in the Veerapura Oni area within the jurisdiction of the Bendigeri Police Station.

Vishwa had been blackmailing Anjali and pressurising her to accompany him to Mysuru without informing her parents. The incident which took place close on the heels of MCA student Neha Hiremath’s brutal murder by the jilted lover has raised concern over the safety of women all across the state.

The BJP had demanded the resignation of Home Minister G. Parameshwara while the Congress leaders have also demanded that the Hubballi-Dharwad Police Commissioner Renuka Sukumar should be transferred for failing to sensitise the police force regarding issues of women’s safety.

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News Network
May 5,2024

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Iran has urged Muslim countries to cut all relations with the Israeli regime as means of pressuring Tel Aviv to end its ongoing genocidal war on the Gaza Strip.

Foreign Minister Hossein Amir-Abdollahian made the remarks on Saturday, addressing the 15th Heads of State and Government Summit of the Organization of Islamic Cooperation (OIC) in Gambia’s capital Banjul.

“Beyond doubt, this time period will also pass by, despite all its hardships and adversities for the Palestinian nation,” he said.

“However, the manner and quality of the role that is played by us, Muslim states, in the face of this crisis will go down in history,” the top diplomat added.

“Undoubtedly, severance of diplomatic and economic ties and [imposition of] practical arms and trade embargo [on Israel] serves as an important means of cessation of its genocide in Gaza and atrocities in the West Bank and the Noble al-Quds.”

At least 34,654 people have died in Gaza since October 7, when the Israeli regime began the war in response to al-Aqsa Storm, a retaliatory operation by the coastal sliver’s resistance groups.

Despite the unabated campaign of bloodshed and destruction, the regime has so far fallen short of realizing its goals, including defeating Gaza’s resistance, causing forced displacement of the territory’s entire population to neighboring Egypt, and enabling the release of those who were taken captive during al-Aqsa Storm.

Amir-Abdollahian said Gaza’s developments proved that elimination of the Palestinian resistance “was nothing but an illusion.”

“Because the Israeli regime is not a legitimate government. It is only an occupying apartheid power,” he said, adding, “Passage of time is not going to lend legitimacy to an occupying power.”

The foreign minister asserted that realization of sustainable peace and security in the region was only possible through cessation of the regime’s occupation of Palestine, Syria, and Lebanon, return of the Palestinian refugees to their homeland, and manifestation of Palestinians’ right to self-determination.

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