New Re1 notes to be circulated soon

New Re1 notes with predominantly pink-green on obverse and reverse in combination with other colours will be soon put into circulation. The notes bearing the rupee symbol have been printed by the government. At present, one rupee coins are minted. Printing of Re1 notes was discontinued in 1994; it was relaunched in 2015.

“The Reserve Bank of India will soon put into circulation currency notes in one rupee denomination,” the central bank said in a statement.

Mint, New Delhi, May 31, 2017

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

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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 ...

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