Currency notes issued before to 2005 to be withdrawn

January 22, 2014

New Delhi, Jan 22: The Reserve Bank of India (RBI) on Wednesday decided to withdraw all currency notes issued prior to 2005, including Rs 500 and Rs 1,000 denominations, after March 31 in a move apparently aimed at curbing black money and fake currencies.

currency

"After March 31, 2014, it (RBI) will completely withdraw from circulation all bank notes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes," the RBI said in a statement.

The public can easily distinguish the currency notes issued before 2005 as they do not have the year of printing on reverse side. The year of printing in a small font is visible at the middle of the bottom row in notes issued after 2005.

Asking people not to panic and cooperate in the withdrawal process, the RBI said old notes will continue to be legal and can be exchanged in any bank after April 1.

"From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication," the RBI said.

From July 1, 2014, persons seeking exchange of more than 10 pieces of Rs 500 and Rs 1,000 notes will have to furnish proof of identity and residence to the bank.

Although the RBI did not give any reason for withdrawal of pre-2005 currency notes, the move is expected to unearth black money held in cash.

As the new currency notes have added security features, they would help in curbing the menace of fake currency.

At present, currency notes in denominations of Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 500 and Rs 1,000 are issued.

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News Network
November 3,2024

Mangaluru: Deputy Chief Minister D K Shivakumar emphasized the urgent need for local job creation and a dedicated tourism policy to address communal tensions and rejuvenate the Dakshina Kannada region. 

He spoke during "Ashoka Jan-Mana," a clothing distribution event organized by Rai Estates Educational and Charitable Trust, under the leadership of MLA Ashok Rai, at Kombettu’s taluk stadium in Puttur on Saturday.

“There are challenges to communal harmony across the coastal and interior regions of Dakshina Kannada. To counter these issues, we must provide opportunities for our youth," Shivakumar stated. "The government is considering a specialized tourism policy for the coastal areas to attract more visitors and retain local talent."

Shivakumar expressed concern about a rising trend among local youth to migrate to Saudi Arabia, Mumbai, and Bengaluru due to limited job opportunities in the area. "Communal disturbances have also discouraged students from other districts from enrolling in our institutions, and several banks that originated here have closed down," he said.

Highlighting the region's potential, Shivakumar remarked, “Dakshina Kannada is home to many temples and boasts a rich coastline. Yet, despite Mangaluru having a major port, we still lack five-star hotels. Developing tourism here will be essential for creating jobs and fostering harmony.”

He also hinted at development projects proposed by Ashok Rai for Puttur, which are currently under wraps due to by-election restrictions. Assuring commitment, Shivakumar said, “Although we secured only two seats in Dakshina Kannada, we are committed to developing all constituencies in the region.”

The Deputy Chief Minister concluded with a powerful message on leadership, likening Ashok Rai to a modern embodiment of ancient virtues. “For success, one should have Dharmaraya's righteousness, Karna's generosity, Arjuna's focus, Vidura's ethics, Bhima's strength, and Krishna's strategy. Ashok Rai has all these qualities," he said, praising Rai’s dedication to the people of Dakshina Kannada.

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News Network
November 11,2024

Mangaluru: Six youths including teenagers have been arrested by the Bantwal Rural Police in connection with a brutal assault on 21-year-old Aboobakar (name changed to hide identity), an incident that was widely shared on social media after footage revealed the victim tied to a pole and violently beaten.

The arrested individuals, all from Kanchinadkapadavu, Sajipanadu village in Ullal Taluk, have been identified as Mohammad Sapwan (25), Mohammad Rizwan (25), Irfan (27), Anis Ahmad (19), Nasir (27), and Shakeer (18). According to police reports, the assault took place on November 7 in Kanchinadkapadavu.

The sequence of events began when Aboobakar was reportedly called to a residence in Kanchinadkapadavu by a female relative. Upon his arrival, he was confronted by the accused, who questioned his presence, tied him to a pole with ropes, and attacked him while he was shirtless. 

Aboobakar managed to file a police complaint the following day, detailing the assault. As his injuries worsened, he was admitted to a private hospital in Mangaluru.

While in the hospital, Aboobakar alleged that his attackers intended to kill him during the assault. This statement led to additional charges of attempted murder being filed. 

Police officials stated that the suspects were subsequently apprehended, charged with group assault and attempted murder, and placed in judicial custody. The investigation is ongoing, and further details are awaited.

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News Network
November 15,2024

Udupi: The Tourism Department is planning a major eco-friendly development initiative for Kamini Island, located near the Blue Flag-certified Padubidri End Point beach, aiming to attract more visitors while maintaining environmental sustainability.

Assistant Director Kumar CU emphasized that, given the island’s proximity to the Blue Flag beach, all development efforts will center around eco-friendly practices. “We are looking to enhance the Kamini River and the island’s surroundings by adding a hanging bridge, nature trails, and eco-friendly food courts offering traditional cuisine. Visitors will also be able to reach the island by pedal boats or kayaking,” he said.

The development project is estimated to cost between Rs 3 crore and Rs 4 crore. Meanwhile, the Blue Flag beach, Padubidri, continues to see a steady flow of visitors. Vijay Shetty, manager of the beach, shared that tenders for food courts and water sports have been awarded to private parties. Recently, three new coracles have been introduced, which are proving to be a hit with visitors. Additionally, three more shelters are expected to be ready by November 20.

Shetty mentioned that the beach can now accommodate between 2,500 and 3,000 visitors daily, although footfall remains lower than other district beaches due to user fees and activity restrictions. “Initially, most visitors were from Mangaluru, but now nearly 40% come from other districts, showing a shift in the visitor demographics,” Shetty noted.

To further boost tourism and promote a healthy lifestyle, a Beach Carnival is set to take place on November 23-24, featuring the National Sea Swimming Championship and a sea marathon in collaboration with the Padubidri JCI, which is celebrating its golden jubilee. Cultural events will be held at the main beach, with some sports events taking place at the Blue Flag beach. Emphasis will be placed on making all activities environmentally friendly.

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