Rs 4.27 lakh crore notes issued after demonetisation: RBI
Union Finance Minister Arun Jaitley today hit out at Congress alleging that the party did not take a single step against corruption or black money in its 10 years of UPA regime. Talking to media, the Finance Minister said, corruption peaked during Congress regime. He said, it is not surprising that Congress is uncomfortable with NDA campaign against black money.
Mr Jaitley said, the government is now rapidly completing the demonetisation scheme, and significant amounts will be injected in next three weeks. The Minister urged the Opposition to rise above slogans and join the campaign against black money, saying government is ready to debate this issue in Parliament.
Earlier, former Finance Minister and senior Congress leader P Chidambaram termed the demonetisation move as the biggest scam of the year. He questioned how new 2000 rupees notes were hoarded by several people despite cap on withdrawal.
RBI has said that currency notes worth over Rs 4.27 lakh crore have been issued to public through banks and ATMs following the demonetisation of old high value bills. The Bank also said that it “will shortly” issue Rs 500 denomination banknotes in the Mahatma Gandhi (New) Series, without any inset letter, bearing signature of Governor Urjit R Patel.
Consequent to the announcement of withdrawal of legal tender status of banknotes of Rs 500 and Rs 1,000 from the midnight of November 8, 2016, the central bank made arrangements for exchange and/or deposit of such notes.
The central bank in a statement said that the RBI has also made arrangements for supply of adequate quantity of banknotes in various denominations to the public through banks.
During the period from November 10, 2016 and December 7, 2016, banks have reported that banknotes worth Rs 4,27,684 crore have been issued to public either over the counter or through ATMs.
Reserve Bank of India has directed banks to keep record of new notes in view of seizures by Income Tax Department and other law enforcement agencies of large quantities of high denomination notes.
The RBI said, the banks are advised to maintain a daily record of issuances showing the serial numbers of 500 rupee notes and above received from RBI, branches of their own and other banks and post offices on daily basis. AIR Correspondent reports that Finance Ministry on Sunday had asked all public sector banks to strictly maintain record of deposits made through both old 500 and 1,000 rupee notes and other valid currencies.
Central Bureau of Investigation, CBI has arrested a senior RBI official in Bengaluru for allegedly helping touts convert old demonetised notes into new.
Senior Special Assistant of RBI, K Michael was arrested for involvement in changing 1.51 crore rupees. CBI has recovered 16 lakh rupees in new currency from the accused.
CBI has also arrested an alleged hawala operator KV Veerendra in connection with seizure of 5 crore 70 lakh rupees of new currency notes from his premises in Karanataka.
CBI has also registered a case against officials of four banks, State Bank of India, State Bank of Mysore, ICICI Bank and Kotak Mahindra Bank. The Central Agency said, Veerendra was produced before Special court in Bengaluru today which has sent him to six days of CBI custody for questioning.
Reserve Bank of India has said that it has not initiated any action to cancel Axis Bank’s licence following allegations of irregularities at some of its branches after the demonetisation of high value notes.
The clarification comes amid rumours in a segment of the media that the bank was likely to lose its banking licence.
Customers making digital payment for purchase of petrol and diesel will get a discount of 0.75 per cent on the sale price of fuel from today. In a statement, Indian Oil Corporation said, the amount of discount will be credited to customers account by way of cash back within maximum three working days of the transaction.
The 0.75 per cent discount on payments will be available on using credit cards, debit cards, mobile wallets or Prepaid Loyalty Cards.
Finance Minister Arun Jaitley had last week announced various measures including discounts on on-line payments for insurance policies, rail tickets and highway toll charges as the government looked to promote digital cash post demonetisation.
Assam, police today raided a local businessman’s house in Guwahati and seized about Rs 1.55 crore in new Rs 2,000 and Rs 500 currency notes.
Additional Director General of Police CID) Anil Kumar Jha told PTI that a CID team acting on a tip-off seized the money from the house of a bussinessman who owns a hotel and bar an runs shop rental business in the city.
He said during the operation at the house in Beltola area of the city, the police seized Rs 1,54,06,000 crore of Rs 2,000 notes and Rs 75,000 in new Rs 500 notes.
The police have handed over the case to income tax department and its deputy commissioner P Borah is carrying out further investigation, the senior police official added.
Cyrus Mistry : Vijay Singh cooking up theories
Cyrus Mistry on Sunday escalated his war of words with Tatas by accusing Vijay Singh, a nominee director on the Tata Sons board, of cooking up theories to defend his role in the conspiracy hatched by Ratan Tata to sack him as the Chairman.
Mistry also claimed that being a part of the Nominations and Remuneration Committee (NRC) of Tata Sons, Singh had on June 28, 2016 given a glowing review of Mistry’s performance as the chairman of the Tata Group.
On charges that Mistry was doing nothing at Tata Motors, the ousted chairman claimed that Singh had stated that Tata Motors has come up with some of their best models in recent years under his watch.
Pankaj Advani wins 11th World Billiards Championship
Indian Pankaj Advani has won his 11th World Billiards (150-Up format) Championships title in the summit clash in Bengaluru, Karnataka yesterday.
Pankaj Advani defeated Peter Gilchrist of Singapore. He beats multiple world champion Gilchrist by six games to three in a gripping final contest, to wrap up his 16th world title overall. In the semi-finals earlier today, Advani overcame Myanmar’s Aung Htay 5-0, while Gilchrist defeated India’s Dhvaj Haria 5-1.
Donald Trump picks Rex Tillerson as Secretary of State
US President-elect Donald Trump has picked ExxonMobil CEO Rex Tillerson as his Secretary of State. In a tweet, Mr Trump said, he will be making the announcement on the Secretary of State tomorrow. If confirmed by the Senate, Tillerson will replace John Kerry as the Secretary of State.
Tillerson is a veteran chief executive who has had extensive overseas business dealings. Soon after the tweet former Massachusetts Governor Mitt Romney, who was one of the leading contenders for the post, said he would not be the Secretary of State. Several US Senators are reportedly opposing the nomination of Tillerson.
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