A letter dated July 26, 2014, written by the India Bullion and Jewellers Association (IBJA) to the then Governor of the Reserve Bank of India, Raghuram Rajan had accused the UPA government of deliberately yielding to cronies by changing the gold policy days before demitting office.
The Reserve Bank of India which has undertaken an assessment of control systems at the scam-hit Punjab National Bank said that it would take appropriate supervisory action.
Islamic banking will not be introduced in India. The RBI decided not to pursue a proposal for Islamic banking in the country.
Almost 99 per cent of the demonetised currency notes has returned to the banking system. This was an indication given by the RBI which put out data on its website. According to the data on the Rs 1,000 notes, almost 99 per cent of the currency in circulation came back into the banking system.
The new Rs 200 denomination notes will be introduced tomorrow. A specimen of the new note will be introduced tomorrow by the Reserve Bank of India. It would be in circulation from the month end or early September.
The Reserve Bank of India said it would shortly issue the new Rs 50 notes. All bank notes in the denomination of Rs 50 issued by the RBI in the earlier series will continue to be legal tender. The new Rs 50 notes will have the motif of Hampi and a chariot on the reverse. The RBI says this would represent the heritage of the country.
The government is likely to stop issuing the new Rs 2,000 note soon. Reports suggested that the RBI has stopped the printing of the Rs 2,000 notes that were introduced in November last year. Instead the RBI has increased the printing of the other denomination notes which includes the Rs 200 notes. The Rs 200 notes have been in print for a while and will be in circulation soon.
The new Rs 20 notes will soon be issued by the Reserve Bank of India. The new series notes will be similar to the ones already in circulation.
The Congress took a jibe at the Reserve Bank of India which had said that it was still counting the demonetised Rs 500 and 1,000 notes.
In a bid to ease consumer transactions, the printing of the Rs 200 notes has started. The orders to print the Rs 200 note was placed by the Reserve Bank of India, two weeks back.