Tides of 10.07.2015
1.
The Reserve Bank of India has issued
₹ 100 denomination banknotes in
Mahatma Gandhi Series – 2005 with a new numbering pattern. Now the
numerals in both the number panels of these banknotes will be in ascending size
from left to right, while the first three alphanumeric characters (prefix) will
remain constant in size.
Printing the numerals in ascending size is a
visible security feature in the banknotes so that the general public can easily distinguish a counterfeit note from
a genuine one. The Reserve Bank, in consultation with Government of India, has been improving security features
of Indian banknotes so as to make their counterfeiting difficult and make it easy for members of public to
identify genuine banknotes.
The design of banknotes with numerals in
ascending size is similar in all other respects to the current design of ₹100 banknotes in Mahatma Gandhi
Series – 2005 except for the new numbering pattern. The banknotes will continue to have "₹" symbol on the obverse and the reverse, an inset letter
'R' in both the numbering panels, bear the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, and the year of printing
'2015'printed on the reverse of the banknotes. All the banknotes in the
denomination of ₹ 100 issued by the Reserve Bank in the past will continue to be
legal tender. The new numbering pattern will be introduced in
a phased manner in all other denominations.
2.
A hearing with the
district commissioner is scheduled for July 11, after which bankers are
expected to take possession of the property situated near Calangute beach, in
Candolim village. Banks are gearing up to take possession of Vijay Mallya's
palatial villa in Goa by the month-end.
A senior banker in the consortium said, "There is a lot of pressure from the government and also the Reserve Bank of India (RBI) to ring-fence the high-value defaulters. So naturally, the judiciary will also have to act within certain timeframes so that cases do not get prolonged for long and bankers get back their dues. For economic progress and for banks to play an important part in the process, bank's money should be secure and not pilfered out by defaults and frauds."
A senior banker in the consortium said, "There is a lot of pressure from the government and also the Reserve Bank of India (RBI) to ring-fence the high-value defaulters. So naturally, the judiciary will also have to act within certain timeframes so that cases do not get prolonged for long and bankers get back their dues. For economic progress and for banks to play an important part in the process, bank's money should be secure and not pilfered out by defaults and frauds."
