RBI may be holding back Rs 2,000 notes: SBI report

Agencies
December 21, 2017

New Delhi, Dec 20: The Reserve Bank of India (RBI) may either be holding back Rs 2,000 notes or could have stopped printing high denomination currency, says a SBI Research report.

Juxtaposing the data presented in the Lok Sabha recently with the one provided by RBI in its Annual Report earlier, the SBI Ecoflash report said on Wednesday, "we observe" that the value of small denomination currency in circulation up to March 2017 was Rs 3.5 lakh crore.

This implies that the value of high denomination notes was equivalent to Rs 13.32 lakh crore as on December 8, after netting out the small denomination notes from the currency in circulation on that day, it said.

The report further said that as per the Ministry of Finance in the Lok Sabha recently, the RBI has printed 1,695.7 crore pieces of Rs 500 notes and 365.4 crore pieces of Rs 2,000 notes as on December 8. The total value of such notes translates into Rs 15.79 lakh crore.

"This means that the residual amount of high currency notes (the difference between Rs 15.79 lakh crore Rs 13.32 lakh crore) of Rs 2.46 lakh crore may have been printed by the RBI but not supplied in the market," said the report authored Soumya Kanti Ghosh, group chief economic adviser, SBI.

Interestingly, the report added, "it is safe to assume" that Rs 2.46 lakh crore may be on the lower side as the RBI must have printed notes of small denomination in the interregnum (Rs 50 and Rs 200).

"As a logical corollary, as Rs 2,000 denomination currency led to challenges in transactions, it thus indeed seems that RBI may have either consciously stopped printing the Rs 2,000 denomination notes/or printing in smaller numbers after initially it was printed in ample amount to normalise the liquidity situation," said Ecoflash.

This also means that the share of small currency notes in total currency in circulation now may have touched 35% in value terms, it added.

The government on November 8 last year had announced demonetisation of high value notes, Rs 500 and Rs 1,000, which together accounted for 86-87% of the currency in circulation.

The move had lead to huge cash shortage and large queues were witnessed at banks for exchange or depositing the scrapped currency.

The RBI introduced a new Rs 2,000 note as well as new version of the Rs 500 note.

Subsequently, the RBI, for the first time, also introduced a Rs 200 note.

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News Network
November 29,2025

DKSsiddu.jpg

New Delhi: Karnataka chief minister Siddaramaiah and deputy CM DK Shivakumar on Saturday put up a dramatic display of unity at a closely watched joint press briefing, firmly dismissing weeks of speculation about a power-sharing tussle within the Congress. With the high command nudging both leaders to sit together and settle the dust, the meeting became a political spectacle, ending with the duo declaring that there was “no confusion, no differences.”

Calling the reports of a rift “manufactured confusion,” Siddaramaiah said the talks had gone smoothly, even joking about their breakfast. “Breakfast was very good. All three of us enjoyed it,” he said. “We want to end this confusion once and for all. For local elections and for 2028, our mission is clear — Congress must return to power. There is no difference between me and DKS, not now, not before.”

He blamed the media for fuelling rumours and reiterated absolute adherence to the party leadership. “From tomorrow, let there be no confusion. What the high command says, we will follow.”

Siddaramaiah also assured that the Assembly session starting December 8 would run smoothly and vowed that Congress would take on the BJP and JD(S) “together.”

Shivakumar echoed the chief minister word for word, stressing loyalty and discipline. “People have given us a massive mandate. It is our duty to deliver,” he said. “This government was formed under Siddaramaiah’s leadership. We both have complete trust in the high command. If they tell me to wait, I will wait.”

He added that the two leaders had discussed strategy for the 2028 Assembly elections. “Whatever the CM says, I agree. We are loyal soldiers of the party. The party may be facing challenges nationally, but we will keep it strong in Karnataka.”

Shivakumar also said Siddaramaiah would soon visit his home for lunch or dinner — another symbolic gesture meant to underline their unity.

Both leaders later posted on social media describing the breakfast meeting as “productive” and focused on “Karnataka’s priorities.”

The BJP, however, rejected the show of camaraderie as “pure bunkum,” accusing Congress of trying to paper over an internal power struggle. But Siddaramaiah and Shivakumar insisted their united front would continue — and that there was “no confusion” within the state leadership.

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News Network
November 30,2025

The United Nations Committee against Torture (CAT) has condemned the Israeli regime for enforcing a policy of “organized torture” against Palestinians.

In a report published on Friday, CAT stated that the occupying regime enforces a deliberate policy of “organized and widespread torture and ill-treatment” against Palestinian abductees, particularly since October 7, 2023, when Israel launched its genocidal war on Gaza.

The committee expressed “deep concern over repeated severe beatings, dog attacks, electrocution, water-boarding, use of prolonged stress positions [and] sexual violence” inflicted on Palestinians.

Palestinian prisoners were degraded by “being made to act like animals or being urinated on,” systematically denied medical care, and subjected to excessive restraints, “in some cases resulting in amputation,” the report added.

CAT also condemned the routine application of “unlawful combatants law” to justify the prolonged detention without trial of thousands of Palestinian men, women, and children.

More than 10,000 Palestinians, including women and children, are currently held in Israeli prisons, according to Palestinian and international human rights groups, with 3,474 Palestinians in “administrative detention,” meaning they are imprisoned without trial for indefinite periods.

The report highlighted the “high proportion of children who are currently detained without charge or on remand,” noting that while Israel sets the age of criminal responsibility at 12, even younger children have been abducted.

Children designated as security prisoners face severe restrictions on family contact, may be subjected to solitary confinement, and are denied access to education, in clear violation of international law.

The committee further suggested that Israel’s policies across the Occupied Territories constitute collective torture against the Palestinian population.

“A range of policies adopted by Israel in the course of its continued unlawful presence in the Occupied Palestinian Territory amounts to cruel, inhuman or degrading living conditions for the Palestinian population,” the report said.

On Thursday, the Palestinian resistance movement Hamas condemned the systematic killing and torture of Palestinian abductees in Israeli prisons, urging international action to halt these abuses.

Citing human rights data, Hamas stated that 94 Palestinians have been killed in Israeli prisons since the start of Tel Aviv’s genocidal war on Gaza.

“This reflects an organized criminal approach that has turned these prisons into direct killing grounds to eliminate our people,” the resistance movement said.

Hamas called on the international community, the UN, and human rights organizations to immediately pressure Israel to end crimes against prisoners and uphold their rights as guaranteed by all international conventions and norms.

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News Network
December 2,2025

Puttur: The long-cherished dream of a government medical college in Puttur has moved a decisive step closer to reality, with the Karnataka State Finance Department granting its official approval for the construction of a new 300-bed hospital.

Puttur MLA Ashok Kumar Rai announced the crucial development to reporters on Monday, confirming that the official communication from the finance department was issued on November 27. This 300-bed facility is intended to be the cornerstone for the establishment of the government medical college, a project announced in the state budget.

Fast-Track Implementation

The MLA outlined an aggressive timeline for the project:

•    A Detailed Project Report (DPR) for the hospital is expected to be ready within 45 days.

•    The tender process for the construction will be completed within two months.

Following the completion of the tender process, Chief Minister Siddaramaiah is scheduled to lay the foundation stone for the project.

"Setting up a medical college in Puttur is a historical decision by the Congress government in Karnataka," Rai stated. The project has an estimated budget allocation of Rs 1,000 crore for the medical college.

Focus on Medical Education Department

The MLA highlighted a key strategic move: requesting the government to implement the hospital construction through the Medical Education Department instead of the Health and Family Welfare Department. This is intended to streamline the entire process of establishing the full medical college, ensuring the facilities—including labs, operation theatres, and other necessary infrastructure—adhere to the strict guidelines set by the Medical Council of India (MCI). The proposed site for the project is in Bannur.

Rai also took the opportunity to address political criticism, stating that the government has fulfilled its promise despite "apprehensions" and "mocking and criticising" from opposition parties who had failed to take similar initiatives when they were in power. "Chief Minister Siddaramaiah has kept his word," he added.

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