RBI to withdraw Rs 2,000 notes: Banks asked to stop issuing them; to continue as legal tender till Sept 30

News Network
May 19, 2023

RBI.jpg

New Delhi, May 19: The Reserve Bank of India has decided to withdraw the Rs 2,000 denomination banknotes from circulation. However, the central bank has said that the currency notes will continue to be legal tender till September 30. RBI has asked banks to provide deposit and/or exchange facility for Rs 2,000 notes until September 30, 2023.

The central bank has also asked banks to stop issuing Rs 2,000 notes with immediate effect. This change has been brought about in pursuance with RBI's “Clean Note Policy”, RBI said in its communique.

Members of the public will be allowed to deposit Rs 2,000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch. 

However, RBI added that exchange of Rs 2000 banknotes into banknotes of other denominations can be made upto a limit of Rs 20,000 at a time at any bank starting from May 23, 2023.

Deposit into bank accounts can be made in the usual manner, that is, without restrictions and subject to extant instructions and other applicable statutory provisions, the central bank added.

The facility to exchange Rs 2,000 banknotes upto the limit of Rs 20,000 at a time will also be provided at the 19 Regional Offices (ROs) of RBI having Issue Departments from May 23, 2023.

RBI said that it had undertaken a similar withdrawal of notes from circulation in 2013-2014.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 26,2023

khaleej.jpg

Dubai-based billionaire businessman Micky Jagtiani, who founded retail giant Landmark Group, has passed away. The chairman and owner of the group was 70 years old.

With a net worth of $5.2 billion, he was ranked 511 on the Forbes' 37th annual world billionaires list earlier this year. 

Jagtiani was originally from India and started the business in 1973 with one store in Bahrain. He then expanded the business across the west Asia, Africa and India. According to Forbes, Jagtiani drove a taxi in London before moving to Bahrain and starting a baby products shop.

Currently, his wife Renuka runs the Landmark Group as chairman and chief executive officer (CEO).

His three children are directors in the group, overseeing different aspects of the business.

The Landmark Group also entered India in 1999 and has a range of retail brands like Lifestyle and Max for clothes and Home Center for furniture and home furnishings.

The Dubai-headquartered group also operates brands Babyshop, Centrepoint, Home Centre, Lifestyle, Splash, Shoemart and Emax.

"Today Dubai lost a man who was a key player in the retail and real estate industry. Micky Jagtiani the founder of land mark group has passed away," tweeted Emirati businessman Majid Saif Al Ghurair.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 18,2023

photo.jpg

A student shot dead his woman classmate at Greater Noida's Shiv Nadar University on Thursday, May 18, the police said. He later shot himself dead inside a room at the boys' hostel.

Both were pursuing Bachelor of Arts in Sociology and were in their third year. The man was a resident of Uttar Pradesh's Amroha district, while the woman, identified as Neha Chaurasiya, was from Kanpur.

According to eyewitnesses, Anuj and Neha were seen together near the dining hall. They further said that the duo were engaged in a conversation and even hugged each other. However, Anuj pulled out a pistol and shot Neha. He then immediately went inside his hostel room and shot himself.

Neha was immediately rushed to the hospital but was pronounced brought dead.

The family of both the deceased were informed.

Anuj and Neha were good friends for quite a long time, but they were facing a dispute for some time now, sources claimed.

According to Deputy Commissioner of Police Saad Miya Khan, "A student from Shiv Nadar University shot dead his woman classmate. The woman was immediately taken to a nearby hospital but, on arrival was pronounced brought dead.”

“After the preliminary investigation, it was discovered that both were friends for quite some time now. Today, they got involved in an argument and that the man shot dead his friend. After that he went inside his room and shot himself dead,” the DCP added.

Further investigation is underway.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 19,2023

Flag.jpg

Palestinians in the occupied Gaza Strip have held a demonstration against the so-called "flag march," which they view as a highly provocative act.

Reports said on Thursday that Israeli forces have attacked the Palestinian protesters near the eastern borders of Gaza City and injured several of them.

Israeli forces used live fire and tear gas against the protesters, injuring several of them, as far-right Israelis held the "flag march" in occupied East Jerusalem al-Quds’s Old City.

The protest in Gaza was called for by Palestinian factions in response to the Israeli provocation.  

The demonstrators condemned the "flag march" in East Jerusalem al-Quds, and called for an end to Israeli attacks in the Al-Aqsa Mosque compound.

Similar protests were also held in the occupied West Bank city of Nablus in support of al-Quds.

The annual flag march marks Israel’s occupation of the West Bank and al-Quds in 1967. It is organized by far-right Israeli settlers at the al-Aqsa Mosque compound in the occupied al-Quds.

The march is also an attempt by extremist Israeli settlers to slam what they call the Tel Aviv regime’s failure to deal with the Palestinians and affirm their presence in the occupied Palestinian city and its holy sites.

The Palestinian Authority (PA) earlier warned that holding the demonstration would fuel tensions in the occupied territories and Israel will be fully responsible for any possible escalation.  

A spokesman for the Islamic Jihad movement also said the Israeli regime cannot defeat Palestinians through these measures.

He said the Palestinians’ fight against the regime won’t stop unless Israel is wiped off the map.

 Ismail Haniyeh, the leader of the Hamas resistance movement, commented on the issue as well.

He said the regime’s massive deployment of security forces to al-Quds shows it is fearful of acts of resistance by Palestinians.
Meanwhile, Israeli legislators are pushing a new bill that would see the display of the Palestinian flag punishable by up to one year in prison in the latest crackdown by the far-right Israeli administration.

The Israeli Knesset (parliament) has already voted on preliminary approval of the bill, and it will need three additional votes to pass.

Ever since taking office earlier this year as the most right-wing administration in the Israeli regime’s history, Prime Minister Benjamin Netanyahu's cabinet has introduced a raft of legislation aimed at appeasing the far-right society in the occupied territories.

The Islamic resistance movement Hamas censured the Israeli parliament’s plan to ban Palestinian flags from public places.

Hamas in a statement said the bill shows the insistence of the regime on its fascist agenda and is a declaration of war against Palestinians.

It added, the bill will not scare Palestinians, but will rather encourage them to carry and raise their national flag which represents their identity everywhere.

Hamas also called on the international community and the UN to condemn Israeli atrocities against Palestinian people.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.