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On 1 December 2023, Reserve Bank of India informed that 97.26% of Rs 2,000 notes have been returned to the banking system, however Rs 2,000 notes worth Rs 9,760 crore are still in circulation with public, at the close of business on 30 November 2023. [28] [29] RBI said that 2,000 bank notes continue to be legal tender. [30]
According to a 2018 report from the Reserve Bank of India ₹15.3 lakh crore (15.3 trillion rupees on the short scale) of the ₹15.41 lakh crore in demonetised bank notes, or approximately 99.3%, were deposited in banks, leading analysts to state that the effort had failed to remove black money from the economy.
While the exchanging of notes was initially allowed only until 9th February, 1946, it was extended multiple times. [2]: 5 By the end of 1947, out of a total of Rs. 143.97 crore of high denomination banknotes, notes of the value of Rs. 134.90 crore were exchanged and notes worth Rs. 9.07 crore went out of circulation or were not exchanged.
In April 1999, an interim LAF was introduced to provide a ceiling and the fixed-rate repos were continued to provide a floor for money market rates. As per the policy measures announced in 2000, the Liquidity Adjustment Facility was introduced with the first stage starting from June 2000 onwards. Subsequent revisions were made in 2001 and 2004.
The DEA (Department of Economic Affairs), Ministry of Finance, Government of India along with Reserve Bank of India, monitors and regulates ECB guidelines and policies. Most of these loans are provided by foreign commercial banks and other institutions. During the 2012, contribution of ECBs was between 20 and 35 percent of the total capital ...
The RBI announced on 18 August 2017 that it would soon issue a new ₹ 50 note. [4] RBI announced the specifications of new denomination of ₹200 note in the Mahatma Gandhi New Series, bearing signature of Dr. Urjit R. Patel, Governor of the Reserve Bank of India on 25 August 2017. [5]
The Gandhi Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of Indian rupee. The series is so called because the obverse of the banknotes prominently display the portrait of Mahatma Gandhi. Since its introduction in 1996, this series replaced all Lion Capital Series banknotes issued before 1996. The Reserve ...
Status: In force The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act ) is an Indian law. It allows banks and other financial institutions to auction residential or commercial properties of defaulters to recover loans . [ 1 ]