RBI gives a makeover to Rs 10 note with chocolate-brown shade

News Network
January 5, 2018

After the big Indian notes, now it's time for 10 rupee note to get a new makeover. According to reports, the Reserve Bank of India is all set to issue new Rs 10 notes under the Mahatma Gandhi series with chocolate brown colour as the base.

A picture of Konark Sun Temple will be a new addition to the Rs 10 note. As per various news reports, the central bank has already minted around 1 billion pieces of the new Rs 10 note.

The existing Rs 10 note had a design change in 2005. It currently has a picture of Mahatma Gandhi on the front side while a combo picture of an elephant, a tiger and a rhinoceros is printed on the backside.

The new note may also receive a makeover in its numbering pattern as seen in the new notes. In the new notes, ascending size of numerals can be seen from left to right.

In August last year, RBI had introduced the new Rs 200 and Rs 50 notes under the Mahatma Gandhi series. An RBI spokesperson declined to comment.

The move to reintroduce lower denomination notes in a new design comes after the government’s move to rework the currency mix in order to combat counterfeiting and promote a less-cash economy.

On 8 November 2016, the government announced demonetisation to withdraw Rs 1,000 and Rs 500 currency notes, amounting to around 86% of the currency in circulation of Rs 17.9 trillion. Since then, RBI has replaced these with the new Rs 2000 notes and redesigned Rs 500 notes.

RBI has printed 16.96 billion pieces of Rs 500 notes and 3.6 billion pieces of Rs 2000 notes as on 8 December, according to information given by the finance ministry in Lok Sabha. The total value of such notes translates into Rs 15.79 trillion.

Separately, the regulator had also reissued around 12 billion soiled banknotes of Rs 10, Rs 20 and Rs 50 denomination after the demonetisation resulted in a currency crunch. According to RBI, a soiled note is a currency note which has become dirty due to normal wear and tear.

RBI data show currency in circulation was Rs 16.71 trillion as on 22 December. This is about 94.4% of the Rs 17.7 trillion that was in circulation on 4 November 2016.

RBI’s annual report for fiscal 2016-17 also showed that the volume of banknotes increased by 11.1% mainly due to higher infusion of banknotes of lower denomination following demonetisation. The government’s rationale behind the move is to check fake notes which had seen a significant jump since 2008. From 195,000 pieces in fiscal year 2008, the number of counterfeit notes increased to 632,000 pieces in 2015-16.

“The idea is to increase supply of lower denomination to encourage day to day transactions and for larger transactions, people should move to digital mode of payment. Printing of lower denomination notes in new design will ensure soiled notes will be taken out from the system,” said Soumya Kanti Ghosh, group chief economic adviser at State Bank of India.

RBI has still not finished counting the old Rs 500 and Rs 1000 notes after demonetisation.

Comments

Danish
 - 
Friday, 5 Jan 2018

Modi trying to create more issues. He wont stop making problems to people

Suresh Kalladka
 - 
Friday, 5 Jan 2018

All because of feku ji.. 

Ganesh
 - 
Friday, 5 Jan 2018

Feku wants all notes in same color of his jackets..

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News Network
January 15,2025

The US consulate in Bengaluru will hold its ‘site-dedication ceremony’ on January 17, with officials confirming that the location of the upcoming consulate will be disclosed during the event. Sources indicate that the site could be in either the Central Business District or Whitefield.

While the consulate building is under development, visa services may temporarily begin at the JW Marriott hotel, which currently houses the United States Commercial Service (USCS) office.

Bengaluru has long advocated for the establishment of a US consulate, and with its opening, residents of the city and Karnataka will no longer need to travel to other states for their US visa applications.

It was in January of the previous year that External Affairs Minister S. Jaishankar, during his visit to Bengaluru, expressed his intention to urge the US Ambassador to India to establish a consulate in the city. This move follows the announcement during Prime Minister Modi’s June 2023 visit to the US, where it was revealed that two new US consulates would open in Bengaluru and Ahmedabad, and India would set up a mission in Seattle.

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News Network
January 24,2025

mangalorejapan.jpg

Mangaluru, Jan 24: A high-level meeting to foster trade ties and attract Japanese companies to Mangaluru was held on Wednesday, focusing on leveraging the region’s robust infrastructure, skilled workforce, and strategic connectivity.

Hosted by Kanara Chamber of Commerce and Industry (KCCI) President Anand G. Pai, the session welcomed a Japanese delegation led by Prof. Gopal Mugeraya, Vice-President of Technical Education at NITTE, and included prominent figures such as Komatsu Shinya, Prefectural Assembly Member and Former Vice Chairman of Japan; Katsutoshi Seiwa, Director of Industrial Technology Innovation Division; and Kotaro Kurosaka, CEO of Sanyo Machinery Company, among others.

Anand G. Pai highlighted KCCI’s pivotal role in promoting trade and commerce, particularly the opportunities offered by the Mangalore Special Economic Zone Limited (MSEZL), which has already garnered interest from a multinational corporation. Pai assured the delegation of KCCI’s unwavering support to facilitate smooth business operations in the region. He also invoked Dakshina Kannada MP Capt. Brijesh Chowta’s "Back to Ooru" vision, urging Indians in Japan to invest in Mangaluru to spur local employment and boost MSMEs.

Capt. Chowta, who felicitated the Japanese delegates, pledged full support, including land allocation, streamlined compliance processes, and potential government grants. He emphasized plans to collaborate with Union Finance Minister Nirmala Sitharaman to secure additional funding for these initiatives.

Mangaluru City South MLA D. Vedavyas Kamath lauded Japan’s technological leadership and appreciated its interest in the region. He also commended MP Chowta’s advocacy for infrastructure development as a foundation for such collaborations.

KCCI Vice-President Ahmed Mudassar, Secretary Aditya Padmanabha Pai, and other key officials were also present at the meeting, which is expected to pave the way for enhanced trade relations and local economic growth.

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News Network
January 13,2025

Udupi: A resident of Karkala in Udupi district has accused five individuals of defrauding him of nearly Rs 2 crore under the guise of business partnerships.

Dawood Hakim, a resident of Ennehole in Marne village, Karkala, has filed a complaint stating that he operated a mobile sales and service business on Karkala Market Road for 15 years. He had known the accused for over two decades and trusted them implicitly.

According to Dawood, the accused convinced him to invest in multiple business ventures, including land dealings and a travel business, promising substantial returns and partnership benefits. Believing their assurances, Dawood reportedly handed over cash, gold, and a vehicle.

However, the promised profits never materialized, and the accused allegedly failed to return the money or assets. Dawood claims this deception has caused severe financial distress to him and his family, amounting to a loss of around Rs 2 crore.

A case has been registered at the CEN police station, and investigations are underway.

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