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

News Network
June 8, 2023

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Last month, the RBI governor had said the majority of the withdrawn Rs 2,000 currency notes are expected to be returned to the banking system by the September 30 deadline.

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News Network
January 1,2025

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New Delhi: In a jibe at AAP supremo Arvind Kejriwal on Wednesday, Delhi BJP chief Virendra Sachdeva urged him to give up what he said were the former CM's "deceitful and dishonest" political practices as a new year resolve.

The dig at Kejriwal comes in response to his letter to RSS head Mohan Bhagwat in which he has accused the BJP of "openly" distributing money and trying to get Puravanchali and Dalit voters deleted from Delhi's electoral rolls ahead of the assembly polls.

Sachdeva extended Kejriwal new year greetings in his letter and said since childhood we all make resolutions on New Year's day to give up bad habits and start something good and new.

The Delhi BJP president said he hoped that, on the first day of 2025, Kejriwal would strive to bring meaningful change by abandoning "dishonest and deceitful political practices".

As part of his New Year's resolution, Kejriwal should resolve to "never to swear in the name of his children", and "apologise for promoting liquor" and "making false assurances" of cleaning Yamuna, Sachdeva said.

He also said he hoped the AAP chief would stop "playing with the sentiments" of Delhi's women, elders, and religious communities by making "false promises" and will not "associate with or accept donations" from "anti-national forces" for political gains.

"May God give you the strength to walk on the path of righteousness," Sachdeva said concluding the letter.

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News Network
January 8,2025

Bengaluru: In a sweeping anti-corruption operation, the Karnataka Lokayukta conducted simultaneous raids on the properties of eight government officials across eight districts on Wednesday. The raids, part of ongoing investigations into disproportionate assets cases, targeted over 20 locations linked to these officials.

According to Lokayukta sources, the coordinated operation spanned Bengaluru, Mandya, Bidar, Belagavi, Tumakuru, Gadag, Ballari, and Raichur. Properties of the following officials were under scrutiny:

Shobha – Joint Commissioner, Bengaluru Transport Department

S. N. Umesh – Health and Family Welfare Officer, Kadur

Ravindra – Inspector, Minor Irrigation and Groundwater Development Sub-Division, Bidar

Prakash Sridhar Gaikwad – Tahsildar, Khanapur

S. Raju – Retired RTO Officer, Tumakuru

Huchesh alias Huchappa – Assistant Executive Engineer, Gadag Municipality

R. H. Lokesh – Welfare Officer, Backward Class Department, Ballari

Huliraja – Junior Engineer (Electric), Raichur

Lokayukta officials are thoroughly examining documents, assets, cash, and other valuables found during the raids.

This operation is the Lokayukta’s first major crackdown in 2025. Notably, on December 12, the watchdog had unearthed disproportionate assets worth Rs 48.55 crore in raids on properties belonging to 10 government officials.

The Lokayukta’s intensified efforts signal its commitment to curbing corruption and ensuring accountability among government officials.

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News Network
January 7,2025

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New Delhi, Jan 7: Fifty-three people were killed after an earthquake of magnitude 7.1 hit Tibet near the Nepalese border today, news agency AFP said quoting Chinese media Xinhua. The tremors of the earthquake were felt in several parts of India, including Bihar, Assam and West Bengal.

The epicentre of the earthquake was in Tingri county in Shigatse city. Tingri is about 400 km southwest of Tibet's capital Lhasa and is on the border with Nepal. It is a tourism hub for those visiting Mount Everest. 

According to the National Centre for Seismology (NCS), the earthquake was recorded at 6:35 am. NCS data reveals that two more earthquakes hit the region shortly after the first one. 

The second earthquake of magnitude 4.7 was recorded at 7:02 am at a depth of 10 km and the third earthquake of magnitude 4.9 at 7:07 am at a depth of 30 km. 

Nepal is nestled in a geologically active region, where the Indian and Eurasian tectonic plates collide, forming the Himalayas and making earthquakes a frequent occurrence. In 2015, nearly 9,000 people died and more than 22,000 were injured when a 7.8-magnitude quake struck Nepal, destroying more than half a million homes.

The tremors were particularly felt in Bihar where people were seen outside their houses and apartments. There have been no reports of any damage to property because of the earthquake.

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