Introduction of Rs 10 Plastic Notes in select cities
It has been decided to introduce plastic notes in the denomination of Rs. 10. One billion plastic notes of the denomination of Rs. 10 will be introduced in a field trial in five cities selected for their geographical and climatic diversity. These cities are Kochi, Mysore, Jaipur, Shimla and Bhubaneswar. The field trial is expected… Read More
Tags: Bhubaneswar, Business, Kochi, Plastic, Polymer banknote, Recycling, Run batted in, Shimla
RBI’s clarification on Scribbling on Banknotes
In the wake of rumours circulating in the market that from January 1, 2014, banks will not accept banknotes with anything written on them, the Reserve Bank has urged members of public not to fall prey to such rumours and to use their banknotes without any fear. The Reserve Bank of India has clarified it… Read More
Tags: Bank of England, Banknote, Central bank, Clean Note Policy, January 1 2014, Mark Carney, Polymer banknote, Reserve Bank of India
RBI Clarification w.r.t. Alternative Avenues for Distribution of Banknotes and Coins
RBI/2013-14/244 DCM (Plg) No.G12/10.65.03/2013-14 September 10, 2013 The Chairman & Managing Director / Chief Executive Officer (All Scheduled Commercial banks including RRBs) Madam/ Dear Sir, Monetary Policy Statement for 2013-14 - Distribution of Banknotes and Coins Alternative Avenues Please refer to Para 110 of the Monetary Policy Statement 2013-14 wherein it was stated that With… Read More
Tags: Bank of England, Banknote, Cash in Transit, Commercial bank, Mark Carney, Monetary policy, Polymer banknote, Winston Churchill
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