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Old notes of Rs 92 lakh face value seized; two held

Hyderabad: Two persons were today arrested here for allegedly trying to exchange demonetised currency notes with face value of over Rs 92.3 lakh, police said. The duo was arrested under Karkhana police station limits here and scrapped notes of Rs 500 and Rs 1,000 denominations were seized from them, police said. Earlier, the city police

No records among fake currency deposited banks: RBI

RBI notifies closure of old notes’ deposits in banks

New Delhi: Asking the banks to report collections of demonetised Rs 500 and Rs 1,000 currency notes on December 30 itself, the Reserve Bank of India (RBI) on Friday notified the closure of the deposit and exchange of the old notes. “With the closure of the facility of exchange of specified bank notes, all banks

Indian economy suffering among note ban: New York Times

Cabinet clears ordinance to penalise persons with old notes

New Delhi: The Cabinet on Wednesday approved promulgation of an ordinance to impose a penalty, including a jail term, for possession of the scrapped 500 and 1,000 rupee notes beyond a cut-off. The Cabinet headed by Prime Minister Narendra Modi also approved an ordinance to amend the RBI Act to extinguish the liability of the

RBI official held for illegally exchanging old notes

Bengaluru: An official of the Reserve Bank of India here has been arrested by CBI for allegedly trying to exchange Rs 1.50 crore in old notes illegally. “The agency has arrested an RBI official from Bengaluru for helping convert banned currency notes,” a CBI official told PTI here, adding the arrest was made last week.

Man duped of Rs 36 lakh over exchange of old notes

Ahmedabad: Six persons including a ladypolice constable and a bank employee allegedly cheated a businessman by promising to exchange his Rs 36 lakh in the now defunct currency, police said on Saturday. Manish Patel, who runs transport business at Santej in Gandhinagar district, had approached some persons who promised to exchange Rs 36 lakh in

Last day to use old notes at petrol pumps, hospitals

New Delhi: The facility to use the demonetised currency notes for utility bill payments, purchase of air, rail and Metro tickets, payments at petrol pumps and government hospitals will end on Thursday midnight, unless the government extends the deadline again. The government had allowed people to use the old Rs 500/1,000 currency notes for rail

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