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Coming soon to your wallet: ₹2,000 notes
The notes have been printed, and despatch from the press have commenced, say sources
HYDERABAD/MUMBAI, OCTOBER 21:
Banknotes of the denomination of ₹2,000 will be in circulation soon.
The Reserve Bank of India has very nearly completed preparations for introducing this new high-value currency, sources said.
The notes have already been printed, and their despatch from the currency printing press in Mysuru has commenced.
The move assumes significance in the wake of a demand from some quarters that notes of ₹1,000 and ₹500 denominations be withdrawn to prevent hoarding of black money.
The highest denomination note printed by the RBI was the ₹10,000 note in 1938 and in 1954. They were demonetised in 1946 and 1978, respectively.
There has been no official word on the introduction of new notes either from the RBI or the government. The government, on the advice of the RBI , decides on various denominations of banknotes to be issued.
Big share
As of March 2016, the value of banknotes in circulation was ₹16,41,500 lakh crore, an increase of 14.9 per cent over the previous year.
In value terms, ₹500 and ₹1,000 notes together accounted for 86.4 per cent of the total value of notes in circulation. .
“During 2015-16, the demand for banknotes and coins remained high notwithstanding the growing shift towards non-cash modes of transactions,” the RBI said in its annual report for 2015-16.
According to reports, it costs a little over ₹3 to produce a ₹1,000 note, the lowest in terms printing costs as a proportion of value. Printing notes of smaller denominations is relatively more costly.
Show Your Support For Demanding 5 Day Week For All Postal Employees
Letter To CHQ demanding 5 Day Week for all Postal Employees.
All Central Govt offices are enjoying 5 day week and here we are working 6 days and that too more than 8 hours on almost every day. While CO RO DO staff are getting 5 days a week even we should get 5 day week.
Even Banks have got 2 extra holidays. So brothers and sisters lets this demand that this issue is also included in the charter of demands in the coming strike.
We request your support by sharing this article to all your friends on facebook whatsapp etc.
Red Salute
Thanks to Shri Ravi Bhosale, Divisional Secretary AIPEU GR-C Sindhudurg Division for sharing the letter with us.
This Is Why We Get Bonus Every Year. Jus't Can't Believe The British Have Betrayed Us Like This.
This Is Why We Get Bonus Every Year. Jus't Can't Believe The British Have Betrayed Us Like This.
What is Diwali Bonus?
Initially there was a concept of salary to be paid on a weekly basis to the workers in India, particularly the textile and flour mill workers in Bombay.
So you received 52 salaries in a year.
But when British started ruling India they came up with concept of Monthly salary which meant you were getting paid for 48 weeks only.
So if we have 4 weeks in a month, 13 salaries should have been distributed but as per a monthly structure they were giving only 12 salaries in a year.
When people realized that this was a loss to them in terms of one salary many protest rallies were organised in Maharashtra during 1930-1940.
The British then came up with a solution to this problem.
After discussion with labour leaders about how to distribute this 13th salary and they decided Diwali being the biggest festival of India, they would distribute this 13th salary during Diwali.
- Today this is called the Diwali Bonus.
- This was implemented from 30th June 1940.
- Many don't know the history behind the Diwali Bonus and hence this post.
Pradhan Mantri Jan Suraksha Scheme
ATAL PENSION YOJANA (APY) - India Post with PFRDA:
All Indian citizens in the age group of 18-40 years can register.Join APY at your Post Office and ensure a Guaranteed Pension.
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