Skip to main content

New Rs100 notes to be issued soon, says RBI

By
The Reserve Bank of India (RBI) on Tuesday said it will soon put to circulation Rs100 notes in the market with enlarged identification features.
“The Reserve Bank will shortly issue Rs100 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the numbering panels,” RBI said in a release.
The notes with ‘2016’ printing year will be similar in design with the existing Rs 100 notes in the Mahatma Gandhi Series-2005 having ascending size of numerals in the number panels, bleed lines, and enlarged identification mark, on the obverse.
More news on demonetisation
The RBI said it has already put to circulation Rs1 00 notes with the ascending size of numerals in the number panels but without bleed lines and enlarged identification mark. These notes will remain in circulation concomitantly with the notes being issued now, it added.
“All the banknotes in the denomination of Rs100 issued by the central bank in the past will continue to be legal tender,” RBI said further.
Besides, earlier this week RBI had said that it will issue Rs20 and Rs50 denomination notes. Issue of these small value currencies will be a big relief to common consumers to meet their daily requirements as the Rs2,000 denomination bank note available currently has a limited acceptability as finding change is a big issue when almost 86% of the cash has been wiped off the market to abolish Rs500 and Rs1,000 banknotes
Mint New Delhi,07th December 2016

Comments

Post a Comment

Popular posts from this blog

Credit card spending growth declines on RBI gaze, stress build-up

By
  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the...
Post a Comment
Read more

Brigade Hotel Ventures files draft papers with Sebi for Rs 900 crore IPO

By
  Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO).The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP).Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures Ltd.Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes.The company may raise up to Rs 180 crore through a Pre-IPO Placement.   If the placement is undertaken, the issue size will be reduced.Brigade Hotel Ventures Ltd is a wholly-owned subsidiary of Brigade Enterprises ...
Post a Comment
Read more

Govt invites applications for RBI deputy governor's post, last date Nov 30

By
  The government has invited applications for the post of deputy governor of Reserve Bank of India from interested candidates with at least 25 years of experience and below 60 years of age as on January 15, 2025.One of the deputy governors, Michael Patra’s current term will end on January 15.According to an advertisement, candidates should have at least 25 years of work experience in Public Administration, including experience at the level of secretary or equivalent in the Government of India, or persons who have at least 25 years of work experience in an Indian or International Public Financial Institutions; or persons of exceptional merit and track record at the national or international level in the relevant field.The last date of submission of the application is November 30, 2024.   It has been clarified that the Financial Sector Regulatory Appointments Search Committee (FSRASC) – a body which will select the candidates- is free to identify and recommend any other person a...
Post a Comment
Read more