RBI Kills Pre-2005 Currency Notes to Suck Black Money Out of Circulation
The Reserve Bank of India will withdraw from circulation all
banknotes issued prior to 2005, it announced on Wednesday. The central
bank will withdraw these notes after March 31. It has asked the public
not to panic and said it has done this in the past more than once.
In
a press release on its website, the Reserve Bank said, from April 1,
2014, the public will be required to approach banks for exchanging these
notes.
Banks for their part will provide exchange facility for these notes until further communication.
The
central bank further said that it was easy to identify notes prior to
2005 as these do not have the year of printing on the reverse.
Notes issued before 2005 will continue to be legal tender. The central
bank said this would mean that banks are required to exchange the notes
for their customers as well as non-customers. There is a stipulation for
the exchange process. From July 01, 2014, those who wish to exchange
more than 10 pieces of Rs 500 and Rs 1,000 will have to give their proof
of identity and residence to the bank branch in case they are
non-customers.Sources said the move is aimed at curbing black
money in circulation. The RBI has requested the public to actively
co-operate in the withdrawal process. The press release on its website
said, “The Reserve Bank has appealed to the public not to panic.”
Supreme Court orally indicates that the government should not deport Rohingya “now” as the Centre prevails over it to not record any such views in its formal order, citing “international ramifications”. The Supreme Court on Friday came close to ordering the government not to deport the Rohingya. It finally settled on merely observing that a balance should be struck between humanitarian concern for the community and the country's national security and economic interests. The court was hearing a bunch of petitions, one filed by persons within the Rohingya community, against a proposed move to deport over 40,000 Rohingya refugees. A three-judge Bench, led by Chief Justice of India Dipak Misra, began by orally indicating that the government should not deport Rohingya “now”, but the government prevailed on the court to not pass any formal order, citing “international ramifications”. With this, the status quo continues even though the court gave the community liberty to approach i...
In a first, a team of researchers has found that high doses of Vitamin C and niacin or Vitamin B3 can kill cancer stem cells. A study published in Cell Biology International showed the opposing effects of low and high dose of vitamin C and vitamin B3 on colon cancer stem cells. Led by Bipasha Bose and Sudheer Shenoy, the team found that while low doses (5-25 micromolar) of Vitamin C and B3 proliferate colon cancer stem cells, high doses (100 to 1,000 micromolar) killed cancer stem cells. Such high doses of vitamins can only be achieved through intravenous injections in colon cancer patients. The third leading cause of cancer deaths worldwide, colon cancer can be prevented by an intake of dietary fibre and lifestyle changes. While the next step of the researchers is to delineate the mechanisms involved in such opposing effects, they also hope to establish a therapeutic dose of Vitamin C and B3 for colon cancer stem cell therapy. “If the therapeutic dose gets validated under in vivo...
Pawan Gupta's findings on trans-boundary movement of pollution (Punjab to Delhi) from biomass burning in 2015 spurred debates. He participated in discussions with Indian regulators early September at the Better Air Quality Conference in Busan on the advantages of using satellite data for air quality monitoring. He explains to Down to Earth how air quality monitoring is done using satellite data. How is satellite data used to measure air pollution? Satellites that provide information on atmospheric pollutants are normally (not always) in the low earth orbits (400-1000 km above the Earth’s surface). A single satellite can carry one or more remote sensing instruments onboard that look down to earth and obtain information about the object in the field of view of satellite sensor. The Earth receives electromagnetic radiation from the sun, which travels through space and reaches the earth-atmosphere system. The radiation then interacts with the Earth’s atmosphere and the surface...
Comments
Post a Comment