Economy

RBI to print new Rs 100 notes to boost lower denomination supply

RBI to print new Rs 100 notes to boost lower denomination supplyā€¯

It was also revealed the size and dimensions of the new Rs 100 notes will not be touched which means banks will not require to recalibrate ATMs outside their branches.

The Reserve Bank of India has announced that it will soon put an end to Rs 100 denomination notes now floating in the market (that comes with large identification features).

RBI launched the bright yellow Rs 200 notes in August.

It is expected that within few months of time the public at large will start getting these new Rs 200 notes. Out of the four cassettes, only one is used for dispensing Rs 100 notes in ATMs. The printing of Rs 200 note will reach its completion by the end of March 2017, the HT report added. At that time, the two bank notes together accounted for 86 per cent of the total currency that was in circulation.

The move was taken to flush out black money and redesigning of the existing notes is also aimed at the same. The printing of new Rs 200 notes has already been started by the apex bank, as part of its larger remonetization exercise.

There will no adjustment in the size and dimensions of the new notes to ensure that it is compatible with the automatic-teller machines (ATMs).

Some banks have even instructed the ATMs to check for the recalibration of the machines to begin testing the Rs 200 notes.

Following the demonetisation of Rs 1,000 and Rs 500 notes last November, the central bank had introduced Rs 2,000 notes and new Rs 500 notes.

These notes are available only through "select RBI offices and banks as is normal when a new denomination of notes is introduced and the supply increases gradually", the RBI said in a release.



Like this

Latest


03 October 2017
Five police officers injured after terror attack in Bahrain
Five Bahraini policemen were lightly injured in what interior ministry says was a terrorist blast outside the capital Manama on Monday.

03 October 2017
EBay Inc. (NASDAQ:EBAY), Cabot Oil & Gas Corporation (NYSE:COG)
Guggenheim Capital Llc increased Lancaster Colony Corp (NASDAQ:LANC) stake by 4,939 shares to 38,382 valued at $4.71M in 2017Q2. The total amount of shares outstanding is 463.70 million, giving the company a market capitalization of about 12.41 billion.

03 October 2017
Analyst Stock Recommendations For Merck & Co., Inc. (MRK), UnitedHealth Group Incorporated (UNH)
Analysts have placed a $210.56 price target on UnitedHealth Group Incorporated , suggesting a 7.51% gain from recent close. Wall Street is only getting more bullish on the stock, with 20 of analysts who cover UNH having a buy-equivalent rating.

03 October 2017
United Kingdom won't foot Brexit bill unless trade deal reached
So, being who we are and drawing on our strengths, we can be confident that our successes will dwarf our failures". Anything else, he said, would be a "dereliction of duty".

03 October 2017
Pfizer Inc. (PFE) Stake Maintained by Sandler Capital Management
Following the sale, the insider now directly owns 74,506 shares of the company's stock, valued at approximately $2,436,346.20. Bw Gestao De Investimentos Ltda owns 60,000 shares or 0.54% of their USA portfolio. 158,357 are held by Argent Trust Com.

03 October 2017
Ancelotti to return to coaching next season
Everton's majority shareholder Farhad Moshiri has issued his support for Koeman but the Dutchman surely can't afford to oversee many more losses if he is to keep his job.

03 October 2017
NY gets 84 cents in federal spending for every tax dollar paid
The federal government previous year spent, on a per capita basis, $2,383 in NY , 12th highest among the states, DiNapoli said. NY state, for instance, ranks 34th in the nation for per capita investments ($2,810 per capita) in social security.

03 October 2017
Gilead Sciences, Inc. (GILD) 0.38% away from 20 SMA
Therefore 63% are positive. 07/27/2017 - Gilead Sciences, Inc . had its "overweight" rating reiterated by analysts at JP Morgan. Silvercrest Asset Management Group Llc bought 12,383 shares as the company's stock declined 3.42% while stock markets rallied.

03 October 2017
Analyst Stock Ratings: Teligent, Inc. (TLGT), Dynavax Technologies Corporation (DVAX)
Shares of Dynavax Technologies Corporation (NASDAQ: DVAX ) have been recently spotted trading 6.41% off of the 52-week high price. Gsa Capital Partners Llp increased Realpage Inc (NASDAQ:RP) stake by 27,035 shares to 37,035 valued at $1.33 million in 2017Q2.

03 October 2017
Why Investors remained confident on Netflix, Inc. (NFLX), Jabil Inc. (JBL)?
Bernstein restated an "outperform" rating and issued a $203.00 target price on shares of Netflix in a research note on Sunday. Finally, BidaskClub cut Netflix from a "buy" rating to a "hold" rating in a research report on Saturday, August 12th.



Recommended