Nearly 50 per cent of Rs 2K notes in circulation has already come back: RBI Governor

News Network
June 8, 2023

RBI.jpg

Reserve Bank Governor Shaktikanta Das on Thursday said about 50 per cent of Rs 2,000 notes in circulation has come back in the banking system since the RBI announced withdrawal of the highest denomination currency last month.

As on March 31, 2023, he said, Rs 2,000 notes worth Rs 3.62 lakh crore were in circulation.

"So far, Rs 1.80 lakh crore have come back after the announcement," he said during an interaction with media after releasing the bi-monthly monetary policy here.

About 85 per cent of Rs 2,000 notes are coming as deposits in bank accounts and this is in line with expectation, he said.

On May 19, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 denomination banknotes as part of its currency management and permitted the exchange of such notes (up to Rs 20,000 in one go) from May 23 onwards. The exchange or deposit window is available till September 30, 2023.

The governor also urged the public not to panic for exchange or deposit of Rs 2,000 notes but should avoid last minute rush.

He also made it clear that RBI is not thinking of withdrawing Rs 500 notes, or even re-introducing notes in the Rs 1,000 denomination, and requested the public not to speculate on this.

Last month, the RBI governor had said the majority of the withdrawn Rs 2,000 currency notes are expected to be returned to the banking system by the September 30 deadline.

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
September 18,2023

Modi.jpg

New Delhi, Sept 18: Prime Minister Narendra Modi on Monday hailed "historic decisions" - referring to his government's controversial moves on Article 370 and the GST and 'One Rank-One Pension' bills - in opening remarks on the first day of a special session that will see Parliament shift to a new building.

In a lengthy speech - which included jabs at the opposition, including a subtle dig at the row over speculation the country's name will change from 'India' to 'Bharat' - the Prime Minister recalled "bitter-sweet memories" associated with the old building, including the terror attack of 2001.

"The House will always say proudly that (the abrogation of) Article 370 became possible due to it... GST was also passed here... 'One Rank-One Pension' was witnessed (and) 10 per cent reservation for Economically Weaker Sections was successfully allowed for the first time without dispute," he said.

"Bidding goodbye to this building is an emotional moment...many bitter-sweet memories associated with it. We had differences and disputes but we witnessed 'parivaar bhaav' ('feeling of family')," he continued as MPs from the ruling Bharatiya Janata Party thumped their desks in agreement.

"There was a terror attack (on Parliament). This was not an attack on a building.... in a way, it was an attack on the 'Mother of Democracy'... on our living soul. The country can never forget that incident," he said as he paid tribute to security personnel who were killed in that attack.

The reference to India as the 'Mother of Democracy' was a repeat of what was said in material handed to G20 leaders and foreign officials during the summit in Delhi earlier this month.

Striking nostalgic notes, the PM also praised the Chandrayaan-3 Moon mission and said India had "made the world proud... highlighted a new form of India's strength". He also spoke about the success of the G20 Summit and attributed it to " 140 crore citizens... not any individual or party".

"Today... you have unanimously appreciated the success of G20. I express my gratitude to you. The success of G20 success is that of 140 crore citizens of the country. It is India's success (and) not that of an individual or a party. It is a matter for all of us to celebrate," the Prime Minister said.

"India will be proud the African Union became a member (of the G20) when it was President... I cannot forget the emotional moment when the announcement was made... (the) African Union President (Azali Assoumani, President of Comoros) said, 'Perhaps I will break down while speaking'."

The Prime Minister also referred to the historic Delhi Declaration and said negotiating the joint communique from G20 leaders underlined India's strength and standing in the world.

The Delhi Declaration was seen as nearly impossible till hours before it was announced due to complexities arising from Russia's war on Ukraine and the West's stance on the conflict.

"You can imagine (role) India had to fulfil... such huge hopes and expectations. It (was) India's strength that (made) it (the declaration) possible," Prime Minister Modi declared.

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
September 13,2023

female.jpg

A survey has shown that nearly one-third of British female surgeons has experienced sexual assault over the past five years.

The study's results were published by the British Journal of Surgery on Tuesday.

The report said the results "indicate that both sexual harassment and sexual assault may be commonplace in the UK surgical environment, and that rape happens."

The study surveyed more than 1,400 UK surgical workforce members through an anonymous poll.

Twenty-nine percent of the women responding to the poll and 6.9 percent of the men reported being sexually assaulted by a colleague over the last five years.

According to the survey, 63.3 percent of the female participants and 23.7 percent of the males were subjected to sexual harassment during the same period.

"These findings show that women and men in the surgical workforce are living different realities. For women, being around colleagues is more often going to mean witnessing, and being a target of, sexual misconduct," the study said.

Alongside instances of rape at work, the study found that survey participants "reported rape by colleagues in other work-related contexts, including teaching spaces, conferences, and after-work events with colleagues," it reported.

'MeToo moment' for surgery

Tamzin Cuming, chair of the Women in Surgery Forum at the Royal College of Surgeons of England, said this "represents a MeToo moment for surgery."

"Now the real work has to start to bring about a profound change in the culture of healthcare," Cuming wrote in The Times newspaper. 

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
September 8,2023

Bypoll results in seven seats in six states gave the Opposition I.N.D.I.A enough reasons to look at future with more confidence with the bloc overcoming tough battles in Uttar Pradesh’s Ghosi and Jharkhand’s Dumri with ease, while sending signals for a realignment in West Bengal.

The Samajwadi Party retained Ghosi and JMM once again won Dumri where I.N.D.I.A parties stuck to each other, while in West Bengal’s Dhupguri, the Trinamool Congress overcame the challenge by Congress-backed CPI(M) and the BJP, a result which it will use to convince the Congress to leave its alliance with the Left.

The CPI(M) had the worst performance among the I.N.D.I.A partners, losing both Boxanagar and Dhanpur in Tripura to the BJP despite support from the Congress, while it lost Kerala’s Puthupally to the grand old party. In Uttarakhand’s Bageshwar, the BJP retained its seat.

Altogether, BJP won three seats and lost one, Congress retained its Kerala seat, Trinamool added one seat by defeating the BJP, JMM showed it still has the zeal to win, and the Samajwadi Party hung on to its seat despite its sitting MLA shifting loyalties.

The most watched fight was in Ghosi where the I.N.D.I.A alliance was tested with Congress and RLD announcing support to the SP candidate and BSP calling to vote for NOTA.

With its MLA Dara Singh Chouhan resigning and fighting from the BJP, it was a prestige battle for the SP whose candidate Sudhakar Singh extracted revenge by defeating Chouhan by 42,759 votes, binning the saffron party’s gamble. Singh polled 1.24 lakh or 57.19 per cent while Chouhan got 88,688 (37.54 per cent).

Interestingly, the number of NOTA votes was only 1,725, appearing to indicate that a section of BSP voters preferred the SP candidate. In the 2022 polls, BSP polled 54,248 votes.

Dumri saw a tough battle initially but JMM fielded Bebi Devi, the widow of sitting MLA Jagarnath Mahto whose death necessitated the bypolls, getting the better of AJSU’s Yasodha Devi.

The BJP’s calculation was that the coming together of AJSU and the saffron party would help them conquer the seat. One thing that will comfort the combine will be the decrease in margin by half from 34,000 to 17,153 votes.

The Dhupguri victory will be a shot in the arm for the Trinamool Congress as it wrests the seat from the BJP defeating its candidate Tapasi Roy by 4,313 votes. Its candidate bagged 46.28 per cent votes while CPI(M) got 6.52 per cent, a statistic that the Trinamool will surely highlight to the Congress to dump the Left.

In Tripura, BJP won both the seats, wresting one from the Congress-backed CPI(M), which had boycotted the counting alleging wide-scale rigging, and retaining its sitting seat.

BJP's Tafajjal Hossain, the first Muslim MLA for the party, defeated CPI(M)'s Mizan Hossain by 30,237 votes. The BJP nominee bagged 34,146 or 87.97 per cent of the votes in the minority dominated seat while CPI(M) got just 3,909 votes or 10.07 per cent votes.

In Dhanpur where Union Minister Pratima Bhoumik's resignation necessitated the bypoll, BJP's Bindu Debnath won by a margin of 18,871 votes. He bagged 70.35 per cent votes while his CPI(M) rival Kaushik Chanda got 26.12 per cent.
Though Tipra Motha did not announce support for anyone, the meeting of its top leader Pradyot Burman with Home Minister Amit Shah was seen by the Opposition as a tacit understanding.

In Kerala’s Puthupally where Congress and the CPI(M) came face to face, the former’s Chandy Oommen retained his father former Chief Minister Oommen Chandy's seat by a record margin of 37,719 seats. Congress in Kerala is projecting a vote against the CPI(M)-led government. BJP's Ligin Lal managed to get only 6,558 votes and lost his deposit.

Uttarakhand Bageshwar was retained by BJP’s Parvati Dass, who defeated Congress’s Basant Kumar by 2,405 votes. Though Congress supported SP in neighbouring Ghosi, SP did not reciprocate it in Bageshwar but could bag only 637 votes.

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.