The central bank defended its decision on a PIL filed by petitioner lawyer Rajneesh Bhaskar Gupta challenging RBI's decision. The PIL argued that it lacks the independent authority, as per the RBI Act, to make such a decision.
As per SBI’s latest notification, special arrangements have been made for exchanging the big denomination currency notes with small denomination notes at around 890 branches across Odisha.
A bench of Justices BR Gavai and Vikram Nath said after the constitution bench judgment, the court does not think to exercise its jurisdiction under Article 142 of the Constitution in individual cases to accept demonetised currency notes.
A five-judge constitution bench pronounced the judgment on a clutch of petitions challenging the Centre's 2016 decision to demonetise currency notes of Rs 1,000 and Rs 500 denominations.
The Centre has told the Supreme Court that the November 2016 decision to withdraw Rs 500 and 1,000 currency notes was "one of the critical steps in the series of transformational economic policy steps"
The three-judge bench had then said that assuming that the 2016 notification has been validly issued under the Reserve Bank of India Act, 1934 whether it is ultra vires Articles 14 and 19 of the Constitution.
The Reserve Bank of India (RBI) prints all banknotes with a unique pattern as well as serial numbers. Though you won’t find any variation in the notes except the serial numbers, every note has its unique pattern. However, while printing the notes, some mistake occurs. Such errors while printing the currency makes it invaluable.
Bhubaneswar: The Odisha Congress has decided to stage demonstration in front of the Reserve Bank of India (RBI) office building as part of its nation-wide protest on the second anniversary of demonetisation tomorrow. Slamming the Centre, the Congress alleged the BJP government at the Centre has ruined the economy of the country through demonetisation. Besides, […]
By Surya Narayan Pradhan Bhubaneswar: At a time when prices of food items and manufactured goods are in no mood to calm down in India, bank transaction limits imposed by the Government of India due to Demonetisation has affected the children badly. To fulfil their wishes to buy new clothes, a pair of shoes or […]
By Bikram Keshari Jena For a common man, ‘change’ in monetary parlance has always been a bittersweet experience. It’s a double-edged, nay multi-edged sword in both its deficiency and sufficiency. However, the demonetization winter has benumbed some of its fangs. In day-to-day life, change or small denomination currencies (both coins and paper notes) are an […]
By Bikram Keshari Jena The note, we so dote, leaves an endnote, with gloat. Money, money everywhere, so copious, yet impecunious. Never one would have imagined that bank notes could be capable of such extracurricular activities, had the government not got a missile-lock on them. As soon as the news broke out, these soon-to-be obliterated […]
Bhubaneswar: Alleging that the demonetisation carried out by the Narendra Modi-led BJP government was the ‘biggest scam in Independent India’ to convert black money into white, the Congress Friday stated that the maximum deposits in cooperative banks in just five days post demonetisation were made in BJP-ruled states. Congress further alleged that old notes worth […]
Bhubaneswar: Blaming the Centre for cash crunch at banks and ATMs across the state, the ruling BJD today announced to stage a silent protest on Saturday. The party will stage protest for two hours -from 10 AM to 12 noon in front of the RBI Headquarters in Bhubaneswar and all nationalised banks in sub-divisions and […]
Bhubaneswar: It has been a year since the Rs 500 and Rs 1000 currency denominations were scrapped as legal tender. Still huge number of banned notes continues to find way into donation boxes at major shrines like Jagannath Temple in Puri, Tarini Temple at Ghatagaon (Keonjhar) and some others in State. With deadline for exchange […]
Puri: With what is being touted as one of the ‘boldest measures’ in Indian economy, one year has passed since the decision by the Centre to demonetise high value currency notes of Rs 500 and Rs 1,000. One year on, OTV did a reality check on the effect of demonetisation at Nuagaon village under Satyabadi […]
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