Don't blame me for tough decisions on black money
In India people are not used to take PM's word seriously. He had already warned about taking steps in september.
India withdraws 500 and 1,000 rupee notes in fight against graft, 'black money'
- Thread starter SleepingLion
- Start date
In India people are not used to take PM's word seriously. He had already warned about taking steps in september.
sherin616
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Reliance invested large amount of money in jio without any return
1)if they wanted to capture market they could have at least priced 50 'rs for 150gb 4g data and free callling everyone would have taken it even at that price atlest they will get operational cost but Reliance decided to give everything free for months
And modi did this after bandwidth sale I think big compinies could have laundered the money in that auction
it's just My view
I support this decision to distroy old currency good for our country
Again I support it
all I said is the way reliance doing business
They may be used bio for laundering money how can a company launch a product without returns
Data is the new oil. If you think you are using internet for free in Reliance JIO, think again, they are selling your data, just like google.
. So allow me to rephrase your question, How is google paying such high amount to its workers when GOOGLE.COM is free? Think Again !!
sherin616
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You think search engine is their only income sourceData is the new oil. If you think you are using internet for free in Reliance JIO, think again, they are selling your data, just like google.
They investedData is the new oil. If you think you are using internet for free in Reliance JIO, think again, they are selling your data, just like google.
"Reliance Jio initial investment at Rs150,000 crore: Mukesh Ambani"
Do you think they can get the amount from selling user data fighting with Google th and countless operaters
Search is their PRIMARY INCOME and stayed like that for a long time.
Second i would have loved to give you an explanation but people have already provided that with much greater insights. https://www.quora.com/What-is-the-business-model-of-Reliance-Jio
Hindustani78
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http://www.deccanherald.com/content/580095/not-first-demonetisation-india.html
This is not the first time in independent India that the government has demonetised currency notes.
A similar exercise was conducted in 1978 under Prime Minister Morarji Desai when the government discontinued the circulation of Rs 1,000, Rs 5,000 and Rs 10,000 notes.
The then Finance Minister H M Patel and the then Reserve Bank of India Governor I G Patel oversaw the demonetisation exercise.
According to reports, gold, commodity and diamond prices had slumped between 5% and 10% within a week of the announcement. Parliament had enacted the High Denomination Bank Notes (Demonetisation) Act in 1978 to cease the circulation of the currency notes.
“The availability of high denomination banknotes facilitates the illicit transfer of money for financing transactions which are harmful to the national economy or which are for illegal purposes,” read the preamble of the Act stating the reasons for taking the step.
In 1998, the NDA government had amended the law to reintroduce the Rs 1,000 note.
Prior to Independence, demonetisation was carried out in 1946 when the government had decided to discontinue Rs 10,000 notes that were introduced in 1938.
More recently, in January 2014, the Centre had announced the discontinuation of all banknotes printed before 2005 as the RBI introduced notes with more security features.
http://www.deccanherald.com/content/580097/pak-role-fake-currency-flow.html
Not merely an allegation by New Delhi, Pakistan’s role in pumping fake currency notes into India was recognised by international agencies too.
That high-quality Fake Indian Currency Notes or FICNs were printed in Pakistan and smuggled into India was highlighted even by the Financial Action Task Force (FATF) — an intergovernmental organisation coordinating global efforts to combat money laundering and terror financing.
Announcing de-monetisation of currency notes of Rs 500 and Rs 1,000 denominations, Prime Minister Narendra Modi on Tuesday tacitly blamed Pakistan, when he accused “enemies across the border” of pumping FICNs into India.
The FATF also recognised that FICNs printed in Pakistan were also used for financing terrorism against India.
The Interpol — an intergovernmental organisation for police cooperation — too noted that Pakistan had been the source of counterfeit currency notes being smuggled into India. In its June 2013 report, the FATF stated that high-quality counterfeit Indian notes were “printed in Pakistan and then smuggled into India through transit points at Dhaka (Bangladesh), Sri Lanka, United Arab Emirates and Bangkok (Thailand).”
The FATF noted that “the problem of counterfeit currency” in India had “domestic as well as international dimensions”. “The high-quality counterfeit Indian currency notes, however, invariably have strong international linkages. The involvement of OCGs (overseas criminal groups) based in the neighbouring countries is clearly seen by the Indian LEAs (Law Enforcing Agencies),” added the intergovernmental organisation.
The FATF has altogether 36 nations as its members. The European Commission is also member of the organisation, which has Israel and Saudi Arabia as observers. India joined the FATF in 2010.
India is among the countries which reported to the FATF that individual terrorists used counterfeit currency and distributed it through terrorist networks. The proceeds were “invested to strengthen terrorist support infrastructure and to finance individual attacks”.
The FATF report referred to use of counterfeit currency notes by David Coleman Headley, whom Pakistan-based terror organisation Lashkar-e-Toiba had sent to Mumbai on reconnaissance missions before the November 26-28, 2008 terrorist attacks. The FATF report referred to Headley, who was later arrested in the US, as “Person X” and quoted him saying that “an agency of a neighbouring country” had provided him high-quality FICNs worth Rs 40,000 to meet his expenses during the reconnaissance missions, which provided the LeT inputs for planning the carnage in Mumbai.
The FATF also reported that a network of over-ground workers had been used to collect FICNs from Bangladesh and transfer it to Jammu in India (1,500 km away) to be further handed over to terrorists of Hizb-ul-Mujahideen.
The Interpol in February 2012 reported a seizure in Hong Kong of bundles of FICNs, which had been found concealed in a shipping consignment from Pakistan to Nepal.
New Delhi conveyed to the FATF that meticulous examination of the fake currency notes seized over the past few years made it clear that they had been printed using very sophisticated technologies, which did not appear to have been indigenously developed in Pakistan. India has been working with the FATF to nudge the developed countries to restrict supply of certain materials and advanced printing technologies to Pakistan, where they end up being used to print FICNs.
This is not the first time in independent India that the government has demonetised currency notes.
A similar exercise was conducted in 1978 under Prime Minister Morarji Desai when the government discontinued the circulation of Rs 1,000, Rs 5,000 and Rs 10,000 notes.
The then Finance Minister H M Patel and the then Reserve Bank of India Governor I G Patel oversaw the demonetisation exercise.
According to reports, gold, commodity and diamond prices had slumped between 5% and 10% within a week of the announcement. Parliament had enacted the High Denomination Bank Notes (Demonetisation) Act in 1978 to cease the circulation of the currency notes.
“The availability of high denomination banknotes facilitates the illicit transfer of money for financing transactions which are harmful to the national economy or which are for illegal purposes,” read the preamble of the Act stating the reasons for taking the step.
In 1998, the NDA government had amended the law to reintroduce the Rs 1,000 note.
Prior to Independence, demonetisation was carried out in 1946 when the government had decided to discontinue Rs 10,000 notes that were introduced in 1938.
More recently, in January 2014, the Centre had announced the discontinuation of all banknotes printed before 2005 as the RBI introduced notes with more security features.
http://www.deccanherald.com/content/580097/pak-role-fake-currency-flow.html
Not merely an allegation by New Delhi, Pakistan’s role in pumping fake currency notes into India was recognised by international agencies too.
That high-quality Fake Indian Currency Notes or FICNs were printed in Pakistan and smuggled into India was highlighted even by the Financial Action Task Force (FATF) — an intergovernmental organisation coordinating global efforts to combat money laundering and terror financing.
Announcing de-monetisation of currency notes of Rs 500 and Rs 1,000 denominations, Prime Minister Narendra Modi on Tuesday tacitly blamed Pakistan, when he accused “enemies across the border” of pumping FICNs into India.
The FATF also recognised that FICNs printed in Pakistan were also used for financing terrorism against India.
The Interpol — an intergovernmental organisation for police cooperation — too noted that Pakistan had been the source of counterfeit currency notes being smuggled into India. In its June 2013 report, the FATF stated that high-quality counterfeit Indian notes were “printed in Pakistan and then smuggled into India through transit points at Dhaka (Bangladesh), Sri Lanka, United Arab Emirates and Bangkok (Thailand).”
The FATF noted that “the problem of counterfeit currency” in India had “domestic as well as international dimensions”. “The high-quality counterfeit Indian currency notes, however, invariably have strong international linkages. The involvement of OCGs (overseas criminal groups) based in the neighbouring countries is clearly seen by the Indian LEAs (Law Enforcing Agencies),” added the intergovernmental organisation.
The FATF has altogether 36 nations as its members. The European Commission is also member of the organisation, which has Israel and Saudi Arabia as observers. India joined the FATF in 2010.
India is among the countries which reported to the FATF that individual terrorists used counterfeit currency and distributed it through terrorist networks. The proceeds were “invested to strengthen terrorist support infrastructure and to finance individual attacks”.
The FATF report referred to use of counterfeit currency notes by David Coleman Headley, whom Pakistan-based terror organisation Lashkar-e-Toiba had sent to Mumbai on reconnaissance missions before the November 26-28, 2008 terrorist attacks. The FATF report referred to Headley, who was later arrested in the US, as “Person X” and quoted him saying that “an agency of a neighbouring country” had provided him high-quality FICNs worth Rs 40,000 to meet his expenses during the reconnaissance missions, which provided the LeT inputs for planning the carnage in Mumbai.
The FATF also reported that a network of over-ground workers had been used to collect FICNs from Bangladesh and transfer it to Jammu in India (1,500 km away) to be further handed over to terrorists of Hizb-ul-Mujahideen.
The Interpol in February 2012 reported a seizure in Hong Kong of bundles of FICNs, which had been found concealed in a shipping consignment from Pakistan to Nepal.
New Delhi conveyed to the FATF that meticulous examination of the fake currency notes seized over the past few years made it clear that they had been printed using very sophisticated technologies, which did not appear to have been indigenously developed in Pakistan. India has been working with the FATF to nudge the developed countries to restrict supply of certain materials and advanced printing technologies to Pakistan, where they end up being used to print FICNs.
Qutb-ud-din Aybak
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ab 100 , 100 ki corruption hogi.
Hassan Guy
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Meanwhile in Pakistan:
NEW RS 10 Coin
https://en.dailypakistan.com.pk/business/sbp-to-introduce-rs-10-coin-soon/
NEW RS 10 Coin
https://en.dailypakistan.com.pk/business/sbp-to-introduce-rs-10-coin-soon/
Manidabest
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Good for indians and Pakistanis should do the same scrap 1000 and 5000 notes and keep 500 re introduce 1,5,10,20,50,100,200& max 500 it will b great and ppl have to run to bank to deposit old notes and get new ones
randomradio
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Don't bring conspiracy here. Jio started its investment years ago. They didn't build a 250,000Km fiber optic backbone in mere months.
Hindustani78
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“President Mukherjee welcomed the bold step of the Government of India which will help unearth unaccounted money & counterfeit currency,” said a statement from Rashtrapati Bhavan.
He called upon people not to panic and follow government guidelines for exchange of Rs. 1,000/500 notes. He also reminded people that all currency notes below Rs. 500 would continue as legal tender.
*****************************
http://www.thehindu.com/news/nation...to-exchange-cash-says-govt/article9320921.ece
Banks will keep records of those exchanging cash, says Economic Affairs Secretary
The government has appealed to people not to help holders of unaccounted or illicit money to exchange their cash holding on their behalf.
“Accumulation of unaccounted wealth fuels inflation and corrodes the very basis of our economy. I would appeal to citizens that people holding lots of unaccounted cash may seek your help — don’t let yourself be used for exchange of such notes,” Economic Affairs Secretary Shaktikanta Das said. “The banks will keep records of those exchanging cash and a video recording will be made, so all such transactions will be monitored. Kindly don’t allow yourself to be used for exchanging illegal cash. For legitimate money exchanged for friends, relatives and anybody known to them is okay,” Mr. Das said. RBI Deputy Governor R. Gandhi said those exchanging notes would have to produce a valid government identity card and all transactions would be noted down by the bank branches.
Asked whether these transactions could face scrutiny from the Income Tax department, Mr. Das said, “Yes, they will definitely be reported to the IT department and above a certain threshold, to the Financial Intelligence Unit [assigned to track money laundering and suspicious transactions].”
*********************
“We have alerted the state chief secretaries and Director Generals of Police across the country along with banks,” said Economic Affairs Secretary Shaktikanta Das. “Control rooms are being set up in Mumbai and Delhi to deal with issues that arise. They will be functional from 8 am on Wednesday,” he said, adding that several operational guidelines will be issued in the next few days.
RBI deputy governor R. Gandhi said that special arrangements would be made by banks to allow people to exchange their old notes. In this period, electronic transactions and payments by cheque and other instruments linked to bank accounts would be allowed to continue as usual. Mr Das said that the situation will be reviewed after November 24 and other denomination currencies will also be issued over time, including the Rs 1000 note that would not be replaced with a new note immediately.
“The Rs. 1,000 note was introduced in 2000-01 so the real value of money had gone down due to inflation in the past 15 years,” Mr. Das said, explaining the rationale for introducing a Rs. 2,000 note. The new Rs 500 and Rs 2000 notes are Braille compliant, he added.
******************
http://www.thehindu.com/news/nation...s-in-atms-from-nov-11-govt/article9323189.ece
The new hard-to-fake Rs 500 and Rs 2,000 currency notes will be available at bank ATMs when they start operating again from Friday, Finance Secretary Ashok Lavasa said on Wednesday.
“There are going to be some difficulties which they (people) will face but for their convenience, a number of steps have been taken by the government, there are facilities to withdraw money from ATM and exchange currency at banks, withdraw money from accounts,” he said on government withdrawing Rs. 500 and Rs. 1,000 notes from circulation to crack down on black money and counterfeit currency.
People, he said, do understand the objective behind the move. “And I’m sure they will cooperate in dealing with the difficulties and inconvenience that they might face. And eventually things will settle down.”
Mr. Lavasa said people need money for transaction so for replacement that currency is being introduced.
“RBI will very strictly monitor it,” he said. “For doing any transaction there are different ways, government’s intention is to move towards cashless transaction.”
The ATMs will open on November 11, 2016, and at many places they will open on Novermber 10, 2016, he said adding new notes will be available at ATMs.
Asked about the slump in stock market indices, he said, the, “The market would have reacted to several other developments. Let’s wait and watch how things pan out.”
“If there is anything required to be done by them I am sure they will take a look and take appropriate decision at the right time,” he said on market regulator SEBI looking into the crash.
Chief Economic Advisor Arvind Subramanian said, “I think this is an important step. What the government has taken in the fight against corruption, counterfeiting and black money. So I think over the medium term we will see the benefits probably.”
****************
http://www.thehindu.com/news/nation...-tax-immunity-arun-jaitley/article9323416.ece
Finance Minister Arun Jaitley on Wednesday said deposits of now-defunct old Rs. 500 and Rs. 1,000 currency notes in bank accounts will not enjoy immunity from tax and the law of the land will apply on source of such money.
A day after the government announced the withdrawal of Rs. 500 and Rs. 1,000 banknotes in the country’s biggest crack down against black money, corruption and counterfeit currency, Mr. Jaitley said old higher-denomination currency notes have to be deposited in bank accounts to get newer or smaller denomination currencies.
“But it should be clear that it is no immunity scheme. This (deposit) does not provide any relief from taxation. The law of land will apply (on source of fund),” he said.
“If the money is legitimate which had been previously withdrawn from bank or earned legally and saved and had been disclosed, there is nothing to worry about,” Mr. Jaitley said.
But if it is illegal money, source will have to be disclosed and if it is a crime money, or bribe money, then it is trouble, he told DD News.
The Finance Minister further said that housewives and farmers with genuine savings need not worry about depositing cash in their bank accounts.
“The small amounts that people will deposit like Rs. 25,000, 30,000 or 50,000 lying in house for expenses, whatever money could be there for meeting normal family expenses they need not worry. They can go to banks,” he said.
The Finance Minister said for first one or two weeks replacements may be less but after 2-3 weeks as more currency notes come in market then normal replacement will be available.
The move would help make more and more transactions become digital, he said, adding now people will disclose income and pay taxes. “India will become a more tax-compliant society,” he noted.
Mr. Jaitley said that people who have accumulated black money, crime money or bribe would suffer after this.
“Obviously there are some inconvenience for a couple of days or couple of weeks, but those inconvenience cannot be alibi that India continues to live (with black money and parallel economy),” he said.
The decision would bring more transactions under tax net and both direct and indirect taxes would move up. Reduction in parallel economy would increase the size of formal economy, Mr. Jaitley said.
Stating that the decision would have its ramifications on politics as well, Mr. Jaitley said some political funding has started by cheques and if this step can do some cleansing, it would be a great move.
*************
http://www.thehindu.com/news/national/nitish-backs-modi-on-demonetisation/article9323442.ece
“In the beginning people might face some inconvenience but taking everything into account, it would yield positive results,” Mr. Kumar, who is also JD(U) national President, said.
He was talking to mediapersons at Patna airport before leaving for Bettiah, district headquarters of West Champaran, from where he is starting his “Nishchay yatra” from today.
Deputy Chief Minister Tejaswi Yadav and senior Congress minister Madan Mohan Jha accompanied the CM to the launch of “Nishchay yatra” which is aimed at taking feedback from people on implementation of prohibition and start of “seven resolves” which has been adopted by the grand secular alliance ministry in the state as policy of governance for next five year.
“I think the country’s economy will benefit from this decision. That’s why I am welcoming and supporting the decision of withdrawing Rs 1000 and Rs 500,” he added.
Prime Minister Narendra Modi last night announced decision to demonetise Rs 1000 and Rs 500 currency notes from midnight last night as a step to fight menace of black money in the country.
**************
http://www.thehindu.com/news/nation...y-to-curb-menace-sit-chief/article9321241.ece
Justice Shah, a former SC judge, said this would spell the end of circulation of unaccounted wealth.
Justice M.B. Shah, (retired) who heads the Supreme Court-appointed Special Investigation Team on black money, on Tuesday said there was no other alternative to curb black money than to scrap the Rs. 500 and Rs. 1,000 currency notes. Welcoming Prime Minister Narendra Modi’s pronouncement Justice Shah, a former Supreme Court judge, said this would spell the end of circulation of unaccounted wealth inside the country.
He said unaccounted money stashed abroad is a “different thing” and needs to be addressed separately.
“You have to understand, there is no other alternative. This is one of the methods to end circulation of unaccounted wealth across the country,” Justice Shah told The Hindu over the phone, minutes after the Prime Minister’s announcement.
Looking to the future
“Certainly, this is going to help our work in future to end the black money menace,” Justice Shah said. He said the measure would cripple the efforts of criminals in money laundering.
Call for ban
Earlier this year, the SIT had called for a complete ban on cash transactions above Rs. three lakh as well as setting a Rs. 15-lakh cap on cash holdings by individuals to prevent holding of unaccounted wealth in cash.
It had also recommended the government to frame a new law to make transactions above this threshold illegal if the amount was not paid by cheque, bank draft, or electronic clearing system through a bank account.
The SIT recommendation had followed a Finance Ministry statement that large amounts of unaccounted wealth was stored and used in the form of cash.
He called upon people not to panic and follow government guidelines for exchange of Rs. 1,000/500 notes. He also reminded people that all currency notes below Rs. 500 would continue as legal tender.
*****************************
http://www.thehindu.com/news/nation...to-exchange-cash-says-govt/article9320921.ece
Banks will keep records of those exchanging cash, says Economic Affairs Secretary
The government has appealed to people not to help holders of unaccounted or illicit money to exchange their cash holding on their behalf.
“Accumulation of unaccounted wealth fuels inflation and corrodes the very basis of our economy. I would appeal to citizens that people holding lots of unaccounted cash may seek your help — don’t let yourself be used for exchange of such notes,” Economic Affairs Secretary Shaktikanta Das said. “The banks will keep records of those exchanging cash and a video recording will be made, so all such transactions will be monitored. Kindly don’t allow yourself to be used for exchanging illegal cash. For legitimate money exchanged for friends, relatives and anybody known to them is okay,” Mr. Das said. RBI Deputy Governor R. Gandhi said those exchanging notes would have to produce a valid government identity card and all transactions would be noted down by the bank branches.
Asked whether these transactions could face scrutiny from the Income Tax department, Mr. Das said, “Yes, they will definitely be reported to the IT department and above a certain threshold, to the Financial Intelligence Unit [assigned to track money laundering and suspicious transactions].”
*********************
“We have alerted the state chief secretaries and Director Generals of Police across the country along with banks,” said Economic Affairs Secretary Shaktikanta Das. “Control rooms are being set up in Mumbai and Delhi to deal with issues that arise. They will be functional from 8 am on Wednesday,” he said, adding that several operational guidelines will be issued in the next few days.
RBI deputy governor R. Gandhi said that special arrangements would be made by banks to allow people to exchange their old notes. In this period, electronic transactions and payments by cheque and other instruments linked to bank accounts would be allowed to continue as usual. Mr Das said that the situation will be reviewed after November 24 and other denomination currencies will also be issued over time, including the Rs 1000 note that would not be replaced with a new note immediately.
“The Rs. 1,000 note was introduced in 2000-01 so the real value of money had gone down due to inflation in the past 15 years,” Mr. Das said, explaining the rationale for introducing a Rs. 2,000 note. The new Rs 500 and Rs 2000 notes are Braille compliant, he added.
******************
http://www.thehindu.com/news/nation...s-in-atms-from-nov-11-govt/article9323189.ece
The new hard-to-fake Rs 500 and Rs 2,000 currency notes will be available at bank ATMs when they start operating again from Friday, Finance Secretary Ashok Lavasa said on Wednesday.
“There are going to be some difficulties which they (people) will face but for their convenience, a number of steps have been taken by the government, there are facilities to withdraw money from ATM and exchange currency at banks, withdraw money from accounts,” he said on government withdrawing Rs. 500 and Rs. 1,000 notes from circulation to crack down on black money and counterfeit currency.
People, he said, do understand the objective behind the move. “And I’m sure they will cooperate in dealing with the difficulties and inconvenience that they might face. And eventually things will settle down.”
Mr. Lavasa said people need money for transaction so for replacement that currency is being introduced.
“RBI will very strictly monitor it,” he said. “For doing any transaction there are different ways, government’s intention is to move towards cashless transaction.”
The ATMs will open on November 11, 2016, and at many places they will open on Novermber 10, 2016, he said adding new notes will be available at ATMs.
Asked about the slump in stock market indices, he said, the, “The market would have reacted to several other developments. Let’s wait and watch how things pan out.”
“If there is anything required to be done by them I am sure they will take a look and take appropriate decision at the right time,” he said on market regulator SEBI looking into the crash.
Chief Economic Advisor Arvind Subramanian said, “I think this is an important step. What the government has taken in the fight against corruption, counterfeiting and black money. So I think over the medium term we will see the benefits probably.”
****************
http://www.thehindu.com/news/nation...-tax-immunity-arun-jaitley/article9323416.ece
Finance Minister Arun Jaitley on Wednesday said deposits of now-defunct old Rs. 500 and Rs. 1,000 currency notes in bank accounts will not enjoy immunity from tax and the law of the land will apply on source of such money.
A day after the government announced the withdrawal of Rs. 500 and Rs. 1,000 banknotes in the country’s biggest crack down against black money, corruption and counterfeit currency, Mr. Jaitley said old higher-denomination currency notes have to be deposited in bank accounts to get newer or smaller denomination currencies.
“But it should be clear that it is no immunity scheme. This (deposit) does not provide any relief from taxation. The law of land will apply (on source of fund),” he said.
“If the money is legitimate which had been previously withdrawn from bank or earned legally and saved and had been disclosed, there is nothing to worry about,” Mr. Jaitley said.
But if it is illegal money, source will have to be disclosed and if it is a crime money, or bribe money, then it is trouble, he told DD News.
The Finance Minister further said that housewives and farmers with genuine savings need not worry about depositing cash in their bank accounts.
“The small amounts that people will deposit like Rs. 25,000, 30,000 or 50,000 lying in house for expenses, whatever money could be there for meeting normal family expenses they need not worry. They can go to banks,” he said.
The Finance Minister said for first one or two weeks replacements may be less but after 2-3 weeks as more currency notes come in market then normal replacement will be available.
The move would help make more and more transactions become digital, he said, adding now people will disclose income and pay taxes. “India will become a more tax-compliant society,” he noted.
Mr. Jaitley said that people who have accumulated black money, crime money or bribe would suffer after this.
“Obviously there are some inconvenience for a couple of days or couple of weeks, but those inconvenience cannot be alibi that India continues to live (with black money and parallel economy),” he said.
The decision would bring more transactions under tax net and both direct and indirect taxes would move up. Reduction in parallel economy would increase the size of formal economy, Mr. Jaitley said.
Stating that the decision would have its ramifications on politics as well, Mr. Jaitley said some political funding has started by cheques and if this step can do some cleansing, it would be a great move.
*************
http://www.thehindu.com/news/national/nitish-backs-modi-on-demonetisation/article9323442.ece
“In the beginning people might face some inconvenience but taking everything into account, it would yield positive results,” Mr. Kumar, who is also JD(U) national President, said.
He was talking to mediapersons at Patna airport before leaving for Bettiah, district headquarters of West Champaran, from where he is starting his “Nishchay yatra” from today.
Deputy Chief Minister Tejaswi Yadav and senior Congress minister Madan Mohan Jha accompanied the CM to the launch of “Nishchay yatra” which is aimed at taking feedback from people on implementation of prohibition and start of “seven resolves” which has been adopted by the grand secular alliance ministry in the state as policy of governance for next five year.
“I think the country’s economy will benefit from this decision. That’s why I am welcoming and supporting the decision of withdrawing Rs 1000 and Rs 500,” he added.
Prime Minister Narendra Modi last night announced decision to demonetise Rs 1000 and Rs 500 currency notes from midnight last night as a step to fight menace of black money in the country.
**************
http://www.thehindu.com/news/nation...y-to-curb-menace-sit-chief/article9321241.ece
Justice Shah, a former SC judge, said this would spell the end of circulation of unaccounted wealth.
Justice M.B. Shah, (retired) who heads the Supreme Court-appointed Special Investigation Team on black money, on Tuesday said there was no other alternative to curb black money than to scrap the Rs. 500 and Rs. 1,000 currency notes. Welcoming Prime Minister Narendra Modi’s pronouncement Justice Shah, a former Supreme Court judge, said this would spell the end of circulation of unaccounted wealth inside the country.
He said unaccounted money stashed abroad is a “different thing” and needs to be addressed separately.
“You have to understand, there is no other alternative. This is one of the methods to end circulation of unaccounted wealth across the country,” Justice Shah told The Hindu over the phone, minutes after the Prime Minister’s announcement.
Looking to the future
“Certainly, this is going to help our work in future to end the black money menace,” Justice Shah said. He said the measure would cripple the efforts of criminals in money laundering.
Call for ban
Earlier this year, the SIT had called for a complete ban on cash transactions above Rs. three lakh as well as setting a Rs. 15-lakh cap on cash holdings by individuals to prevent holding of unaccounted wealth in cash.
It had also recommended the government to frame a new law to make transactions above this threshold illegal if the amount was not paid by cheque, bank draft, or electronic clearing system through a bank account.
The SIT recommendation had followed a Finance Ministry statement that large amounts of unaccounted wealth was stored and used in the form of cash.
Hindustani78
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************
Ministry of Road Transport & Highways
09-November, 2016 14:21 IST
Government permits Rs. 500 and Rs. 1000 currency notes on highway toll plazas till midnight of 11.11.2016
The government has permitted fee collectors at toll plazas on highways to accept currency notes of Rs. 500 and Rs. 1000 denominations till the midnight of 11.11.2016. National Highways Authority of India (NHAI) has issued instructions to all the concessionaries including BOT, OMT operators and other fee collection agencies in this regard. The orders have been issued in order to avoid difficulties that may be faced by the highway users following instructions by the Ministry of Finance yesterday that currency notes of the denominations of Rs. 500 and Rs. 1000 will no longer be legal tender from 12.00 am today.
****
Ministry of Road Transport & Highways
09-November, 2016 14:21 IST
Government permits Rs. 500 and Rs. 1000 currency notes on highway toll plazas till midnight of 11.11.2016
The government has permitted fee collectors at toll plazas on highways to accept currency notes of Rs. 500 and Rs. 1000 denominations till the midnight of 11.11.2016. National Highways Authority of India (NHAI) has issued instructions to all the concessionaries including BOT, OMT operators and other fee collection agencies in this regard. The orders have been issued in order to avoid difficulties that may be faced by the highway users following instructions by the Ministry of Finance yesterday that currency notes of the denominations of Rs. 500 and Rs. 1000 will no longer be legal tender from 12.00 am today.
****
Hindustani78
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http://www.thehindu.com/news/nation...or-high-value-transactions/article9323994.ece
The Indian Railways on Wednesday took a slew of steps for passenger convenience at railway stations and on trains, a day after Rs. 500 and Rs. 1,000 currency notes were demonetised by the Centre. The Railways also set up a special cell to monitor high value transactions at ticketing counters and have asked passengers purchasing tickets worth above Rs. 50,000 to furnish PAN cards.
Authorised caterers of the Indian Railways have been instructed to accept Rs. 500 and Rs. 1,000 notes from passengers at railway stations and on trains, Railway Minister Suresh Prabhu said at a media interaction.
Mr. Prabhu said that on Monday, a lot of people were queuing up at railway station counters with Rs. 1,000 notes to get platform tickets worth Rs. 10. “These are not genuine passengers,” the Railway Minister said, adding that some platform ticket counters refused to take currency notes for such transactions.
The Indian Railways has set up a special cell to keep a tab on high value transactions at ticketing counters. “We are taking every two-hour update of any unusual transactions that may be taking place somewhere,” Railway Board Member Traffic Mohammad Jamshed said.
He said the Indian Railways has made furnishing of PAN cards by passengers compulsory for buying tickets worth over Rs. 50,000. He said, for instance, if one buys four tickets in the first air conditioned class coach on the Delhi-Chennai route, the fare amount will be around Rs. 56,000.
“We passed instructions to all general managers that there should be no inconvenience to any passengers and that he should be given tickets by accepting Rs. 500 and Rs. 1,000 notes,” Mr. Jamshed said.
He also said that there were “unusually high number of people” coming with Rs. 500 and Rs. 1,000 notes to buy even unreserved tickets worth Rs. 100 or Rs. 200. As a result, there was a high outflow of smaller currencies from railway ticket counters. “Finance Ministry has issued instructions that from tomorrow, Railways be able to procure smaller currency notes from RBI’s regional offices so that there is no inconvenience faced by passengers at the counters are we have sufficient reserves,” Mr. Jamshed said.
The Indian Railways on Wednesday took a slew of steps for passenger convenience at railway stations and on trains, a day after Rs. 500 and Rs. 1,000 currency notes were demonetised by the Centre. The Railways also set up a special cell to monitor high value transactions at ticketing counters and have asked passengers purchasing tickets worth above Rs. 50,000 to furnish PAN cards.
Authorised caterers of the Indian Railways have been instructed to accept Rs. 500 and Rs. 1,000 notes from passengers at railway stations and on trains, Railway Minister Suresh Prabhu said at a media interaction.
Mr. Prabhu said that on Monday, a lot of people were queuing up at railway station counters with Rs. 1,000 notes to get platform tickets worth Rs. 10. “These are not genuine passengers,” the Railway Minister said, adding that some platform ticket counters refused to take currency notes for such transactions.
The Indian Railways has set up a special cell to keep a tab on high value transactions at ticketing counters. “We are taking every two-hour update of any unusual transactions that may be taking place somewhere,” Railway Board Member Traffic Mohammad Jamshed said.
He said the Indian Railways has made furnishing of PAN cards by passengers compulsory for buying tickets worth over Rs. 50,000. He said, for instance, if one buys four tickets in the first air conditioned class coach on the Delhi-Chennai route, the fare amount will be around Rs. 56,000.
“We passed instructions to all general managers that there should be no inconvenience to any passengers and that he should be given tickets by accepting Rs. 500 and Rs. 1,000 notes,” Mr. Jamshed said.
He also said that there were “unusually high number of people” coming with Rs. 500 and Rs. 1,000 notes to buy even unreserved tickets worth Rs. 100 or Rs. 200. As a result, there was a high outflow of smaller currencies from railway ticket counters. “Finance Ministry has issued instructions that from tomorrow, Railways be able to procure smaller currency notes from RBI’s regional offices so that there is no inconvenience faced by passengers at the counters are we have sufficient reserves,” Mr. Jamshed said.
Hindustani78
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Ministry of Finance
10-November, 2016 10:28 IST
Replies given by Revenue Secretary Dr. Hasmukh Adhia on the questions relating to action by Income Tax Department in respect of old currency deposited in banks .
Q.1 A lot of small businessmen, housewives, artisans, workers may have some cash lying as their savings at home, will the income tax department ask questions if the same is deposited in banks?
A.1: Such group of people as mentioned in the question need not worry about such small amount of deposits up to Rs.1.5 or 2 lacs, since it would be below the taxable income. There will be no harassment by Income Tax Department for such small deposits made.
Q.2: Will the Income Tax Department be getting reports of cash deposits made during this period? If so, will the current threshold of reporting requirement of reporting cash deposits of more than Rs.10 lacs will only continue?
A.2: We would be getting reports of all cash deposited during the period of 10th November to 30th December,2016 above a threshold of Rs. 2.5 lacs in every account. The department would do matching of this with income returns filled by the depositors. And suitable action may follow.
Q.3: Suppose the department finds that huge amount of cash above Rs.10 lacs is deposited in a bank account, which is not matching with the income declared, what would be the tax and penalty to be paid on the same?
A.3: This would be treated as the case of tax evasion and the tax amount plus a penalty of 200% of the tax payable would be levied as per the section 270(A) of the income tax Act
Q.4: It is believed that a lot of people are buying jewelry now, how does department plan to tackle this?
A.4: The person who buys jewelry has to give his PAN number. We are issuing instructions to the field authorities to check with all the jewelers to ensure that this requirement is not compromised. Action will be taken against those jewelers who fail to take PAN numbers from such buyers. When the cash deposits of the jewelers would be scrutinized against the sales made, whether they have taken the PAN number of the buyer or not will also be checked.
****
Ministry of Finance
10-November, 2016 16:13 IST
Old demonitised 500 & 1000 rupee notes will be accepted for making payments towards fees, charges, taxes and penalties payable to the Central and State Governments including Municipal and local bodies;This facility available only till midnight of 11th November,2016.
The Central Government has taken a decision that old 500 & 1000 rupee notes will be accepted for making payments towards fees, charges, taxes and penalties payable to the Central and State Governments including Municipal and Local Bodies. Such old notes will also be accepted for making payment of utility charges for water & electricity etc. However, these facilities will be available only till midnight of 11th November,2016.
****
Here are the moments that were captured across the country
It was a manic rush outside most banks across the country on Thursday. People were seen waiting outside many banks as early as 6 a.m. to exchange the now defunct Rs. 500 and Rs. 1,000 notes and withdraw money.
The government demonetised the two currency as part of its efforts to curb black money, fake currency and terror financing.
There are about 149 scheduled commercial banks, including 56 regional rural banks, with a branch network of about 1.30 lakh across the country. Besides, the co-operative banks have also been asked to take deposit and exchange the old notes with new ones.
It may be noted that ATMs are not open today also.
Old Rs. 500 and Rs. 1,000 currency notes will be accepted for payment of fees, charges, taxes and penalties to central and state governments, including municipalities and local bodies, Economic Affairs Secretary Shaktikanta Das said. Read more
In a related development, the Supreme Court has refused to give an urgent hearing to a petition to quash the November 8 government notification demonetising the notes. More....
Here are the moments that were captured across the country
Vijayawada
People made beeline to the banks to get new currency notes in exchange of Rs 500 and Rs 1000 currency notes that were withdrawn from circulation in Vijayawada on Thursday.
A few banks in places like One Town and suburbs witnessed unexpected queue lines even before they were opened.
The average waiting time in queue lines varied from 20 minutes to one hour depending upon rush and type of transaction. Depositing money took lesser time than exchanging them.
Banks opened dedicated 'exchange counter' to change the currency notes. The customers, who were unaware of the mandatory rule to bring photocopies of KYC documents were guided to nearby photocopy centres.
Chennai
Chennai Police Commissioner S. George held a meeting with senior police officers and discussed about bandobust arrangements for the smooth exchange of cash at various banks and post offices, a police release said.
Long queues were seen outside banks in many localities of the city. Here is a scene outside the IOB bank in Arumbakkam. Our reporter Sunita Sekar says only a few people were allowed inside the bank at a time and heavy security has been deployed outside many of the banks in the locality.
There are also reports of some banks not having Rs. 2,000 notes.
Madurai
Special arrangements were made to issue pay-in slips, withrawal slips, note exchanging request slips and to verify documents outside banks. A scene outside an SBI Bank in Tallakulam.
New Delhi
As many 3,400 personnel of paramilitary and Delhi Police, along with quick reaction teams, were deployed across the national capital.
The Home Ministry has kept about 1000 personnel at standby for immediate deployment in case of any emergency, official sources said. About 200 quick reaction teams are positioned in various parts of the city, sources said.
A customer outside an SBI branch says the sudden change of events has been very incovenient. "It's so difficult to buy groceries, pay fees, electricity bills, etc," said the customer. Video: R.V. Moorthy
Mumbai
Maharashtra Finance Minister Sudhir Mungantiwar has urged people not to panic in the wake of the demonetisation move, as the government has made elaborate arrangements for the exchange of Rs. 500 and Rs. 1,000 rupee notes at bank branches.
Mr. Mungantiwar said besides nationalised and private banks, the State has asked its central district cooperative banks and district cooperative banks to accept the old demonetised notes.
A person filling up a form in the Saraswat Cooperative Bank in Dadar East in Mumbai. Photo: Smaran Shinde
Mr. Mungantiwar also said the government has asked Maharashtra Director General of Police (DGP) Satish Mathur to deploy police personnel at banks to deal with law and order situation.
“The government will also depute its Revenue Department officials at banks to assist them and the people in filling up the currency notes exchange forms,” he told reporters here.
Banks across the city opened up to long, serpentine queues as people rushed to their local branches first thing in the morning to deposit high denomination currency notes in their accounts or to exchange them for lower denomination currency, with people turning up at the banks as early as 7:30 am.
A scene outsidea a branch of Bank of India Borivali. Photo: Lalatendu Mishra
Thiruvananthapuram
Huge crowds and long queues were seen before bank branches across Kerala from early morning, with people, mostly salary earners, jostling with each other to get their Rs. 500 and Rs. 1,000 denomination notes exchanged with new notes.
A scene inside the State Bank of Travancore branch in Sasthamangalam. Photo: S. Mahinsha
Banks have opened several additional counters to facilitate smooth exchange of notes. However, the demand was so high that at many branches, the bank branches could only issue tokens in exchange for currency notes surrendered by customers, with the promise that new notes would be given to them by afternoon.
Bhubaneswar
The Odisha government has asked the district collectors and superintendents of police to ensure the smooth functioning of banks.
“We have asked the district collectors and SPs to make arrangement so that bank functioning is not affected due to rush,” Finance Secretary T.K. Pande said. ''People should not panic by the demonetisation.''
hoto: Biswaranjan Rout
Director General of Police K.B. Singh said, “I would request the people that whoever is coming to the banks with huge amount of cash for exchange, should inform the police in advance so that adequate security arrangements are made.”
Ahmedabad
The Gujarat police have been directed to extend help to banks in managing the crowd. A high level meeting between representatives of banks and top government officials, including Additional Chief Secretary (Home) M S Dagur, was held in Gandhinagar to discuss the overall arrangements.
The State has assured people that all necessary arrangements have been made by banks as well as the government to ensure hassle-free transactions.
Additional DGP (Law and Order) Tirth Raj said banks would be given bandobast upon request to handle possible chaos.
“Police personnel will do patrolling in areas where banks are situated. We have asked our men to be prepared to handle any situation. Upon request, police will reach any bank and help the management to control crowd. Our focus is to avoid any confrontation,” said Mr. Raj.
Hyderabad
Ravi Reddy and Suresh Krishnamoorthy tell us that most banks have long queues outside. “The cash deposit machines have been disabled as a temporary measure as we need to tally identity proof with deposits,” said Ravindran, an ICICI bank staffer at Mehdipatnam branch.
Many bank staffers were seen trying to answer queries of worried people holding photocopies of their Aadhar card and PAN card. And, policemen have been deployed in all bank branches. “We got a message from our DCP in the night yesterday about the likelihood of long queues and trouble in banks and I am here since 9 a.m.,” said Muhammad Ali Zubair of Asifnagar PS.
“It took me one hour to deposit the money I had. I am a government employee and have nothing to fear about making this deposit,” said Prashant from Tallagadda, coming out of the Bank of India branch in Santoshnagar. More...
All Commissioners and SPs in Telangana have been asked to provide sufficient security at banks and post offices to ensure that there is no stampede or any other law and order issue.
Telangana DGP Anurag Sharma directed that all unit officers must monitor developments closely.
The situation is no different outside a State Bank of Hyderabad branch at Malakpet in Hyderabad. Photo: G. Ramakrishna
“Tomorrow please make sufficient bandobust at banks and post offices to ensure that there is no stampede or any other law and order issue,” he said in a text message to officers.
Hyderabad Police Commissioner M Mahendar Reddy held a meeting and issued instructions to all DCPs, ACPs and Station House Officers to make adequate security arrangements.
(with inputs from agencies)
10-November, 2016 10:28 IST
Replies given by Revenue Secretary Dr. Hasmukh Adhia on the questions relating to action by Income Tax Department in respect of old currency deposited in banks .
Q.1 A lot of small businessmen, housewives, artisans, workers may have some cash lying as their savings at home, will the income tax department ask questions if the same is deposited in banks?
A.1: Such group of people as mentioned in the question need not worry about such small amount of deposits up to Rs.1.5 or 2 lacs, since it would be below the taxable income. There will be no harassment by Income Tax Department for such small deposits made.
Q.2: Will the Income Tax Department be getting reports of cash deposits made during this period? If so, will the current threshold of reporting requirement of reporting cash deposits of more than Rs.10 lacs will only continue?
A.2: We would be getting reports of all cash deposited during the period of 10th November to 30th December,2016 above a threshold of Rs. 2.5 lacs in every account. The department would do matching of this with income returns filled by the depositors. And suitable action may follow.
Q.3: Suppose the department finds that huge amount of cash above Rs.10 lacs is deposited in a bank account, which is not matching with the income declared, what would be the tax and penalty to be paid on the same?
A.3: This would be treated as the case of tax evasion and the tax amount plus a penalty of 200% of the tax payable would be levied as per the section 270(A) of the income tax Act
Q.4: It is believed that a lot of people are buying jewelry now, how does department plan to tackle this?
A.4: The person who buys jewelry has to give his PAN number. We are issuing instructions to the field authorities to check with all the jewelers to ensure that this requirement is not compromised. Action will be taken against those jewelers who fail to take PAN numbers from such buyers. When the cash deposits of the jewelers would be scrutinized against the sales made, whether they have taken the PAN number of the buyer or not will also be checked.
****
Ministry of Finance
10-November, 2016 16:13 IST
Old demonitised 500 & 1000 rupee notes will be accepted for making payments towards fees, charges, taxes and penalties payable to the Central and State Governments including Municipal and local bodies;This facility available only till midnight of 11th November,2016.
The Central Government has taken a decision that old 500 & 1000 rupee notes will be accepted for making payments towards fees, charges, taxes and penalties payable to the Central and State Governments including Municipal and Local Bodies. Such old notes will also be accepted for making payment of utility charges for water & electricity etc. However, these facilities will be available only till midnight of 11th November,2016.
****
Here are the moments that were captured across the country
It was a manic rush outside most banks across the country on Thursday. People were seen waiting outside many banks as early as 6 a.m. to exchange the now defunct Rs. 500 and Rs. 1,000 notes and withdraw money.
The government demonetised the two currency as part of its efforts to curb black money, fake currency and terror financing.
There are about 149 scheduled commercial banks, including 56 regional rural banks, with a branch network of about 1.30 lakh across the country. Besides, the co-operative banks have also been asked to take deposit and exchange the old notes with new ones.
It may be noted that ATMs are not open today also.
Old Rs. 500 and Rs. 1,000 currency notes will be accepted for payment of fees, charges, taxes and penalties to central and state governments, including municipalities and local bodies, Economic Affairs Secretary Shaktikanta Das said. Read more
In a related development, the Supreme Court has refused to give an urgent hearing to a petition to quash the November 8 government notification demonetising the notes. More....
Here are the moments that were captured across the country
Vijayawada
People made beeline to the banks to get new currency notes in exchange of Rs 500 and Rs 1000 currency notes that were withdrawn from circulation in Vijayawada on Thursday.
A few banks in places like One Town and suburbs witnessed unexpected queue lines even before they were opened.
The average waiting time in queue lines varied from 20 minutes to one hour depending upon rush and type of transaction. Depositing money took lesser time than exchanging them.
Banks opened dedicated 'exchange counter' to change the currency notes. The customers, who were unaware of the mandatory rule to bring photocopies of KYC documents were guided to nearby photocopy centres.
Chennai
Chennai Police Commissioner S. George held a meeting with senior police officers and discussed about bandobust arrangements for the smooth exchange of cash at various banks and post offices, a police release said.
Long queues were seen outside banks in many localities of the city. Here is a scene outside the IOB bank in Arumbakkam. Our reporter Sunita Sekar says only a few people were allowed inside the bank at a time and heavy security has been deployed outside many of the banks in the locality.
There are also reports of some banks not having Rs. 2,000 notes.
Madurai
Special arrangements were made to issue pay-in slips, withrawal slips, note exchanging request slips and to verify documents outside banks. A scene outside an SBI Bank in Tallakulam.
New Delhi
As many 3,400 personnel of paramilitary and Delhi Police, along with quick reaction teams, were deployed across the national capital.
The Home Ministry has kept about 1000 personnel at standby for immediate deployment in case of any emergency, official sources said. About 200 quick reaction teams are positioned in various parts of the city, sources said.
A customer outside an SBI branch says the sudden change of events has been very incovenient. "It's so difficult to buy groceries, pay fees, electricity bills, etc," said the customer. Video: R.V. Moorthy
Mumbai
Maharashtra Finance Minister Sudhir Mungantiwar has urged people not to panic in the wake of the demonetisation move, as the government has made elaborate arrangements for the exchange of Rs. 500 and Rs. 1,000 rupee notes at bank branches.
Mr. Mungantiwar said besides nationalised and private banks, the State has asked its central district cooperative banks and district cooperative banks to accept the old demonetised notes.
A person filling up a form in the Saraswat Cooperative Bank in Dadar East in Mumbai. Photo: Smaran Shinde
Mr. Mungantiwar also said the government has asked Maharashtra Director General of Police (DGP) Satish Mathur to deploy police personnel at banks to deal with law and order situation.
“The government will also depute its Revenue Department officials at banks to assist them and the people in filling up the currency notes exchange forms,” he told reporters here.
Banks across the city opened up to long, serpentine queues as people rushed to their local branches first thing in the morning to deposit high denomination currency notes in their accounts or to exchange them for lower denomination currency, with people turning up at the banks as early as 7:30 am.
A scene outsidea a branch of Bank of India Borivali. Photo: Lalatendu Mishra
Thiruvananthapuram
Huge crowds and long queues were seen before bank branches across Kerala from early morning, with people, mostly salary earners, jostling with each other to get their Rs. 500 and Rs. 1,000 denomination notes exchanged with new notes.
A scene inside the State Bank of Travancore branch in Sasthamangalam. Photo: S. Mahinsha
Banks have opened several additional counters to facilitate smooth exchange of notes. However, the demand was so high that at many branches, the bank branches could only issue tokens in exchange for currency notes surrendered by customers, with the promise that new notes would be given to them by afternoon.
Bhubaneswar
The Odisha government has asked the district collectors and superintendents of police to ensure the smooth functioning of banks.
“We have asked the district collectors and SPs to make arrangement so that bank functioning is not affected due to rush,” Finance Secretary T.K. Pande said. ''People should not panic by the demonetisation.''
hoto: Biswaranjan Rout
Director General of Police K.B. Singh said, “I would request the people that whoever is coming to the banks with huge amount of cash for exchange, should inform the police in advance so that adequate security arrangements are made.”
Ahmedabad
The Gujarat police have been directed to extend help to banks in managing the crowd. A high level meeting between representatives of banks and top government officials, including Additional Chief Secretary (Home) M S Dagur, was held in Gandhinagar to discuss the overall arrangements.
The State has assured people that all necessary arrangements have been made by banks as well as the government to ensure hassle-free transactions.
Additional DGP (Law and Order) Tirth Raj said banks would be given bandobast upon request to handle possible chaos.
“Police personnel will do patrolling in areas where banks are situated. We have asked our men to be prepared to handle any situation. Upon request, police will reach any bank and help the management to control crowd. Our focus is to avoid any confrontation,” said Mr. Raj.
Hyderabad
Ravi Reddy and Suresh Krishnamoorthy tell us that most banks have long queues outside. “The cash deposit machines have been disabled as a temporary measure as we need to tally identity proof with deposits,” said Ravindran, an ICICI bank staffer at Mehdipatnam branch.
Many bank staffers were seen trying to answer queries of worried people holding photocopies of their Aadhar card and PAN card. And, policemen have been deployed in all bank branches. “We got a message from our DCP in the night yesterday about the likelihood of long queues and trouble in banks and I am here since 9 a.m.,” said Muhammad Ali Zubair of Asifnagar PS.
“It took me one hour to deposit the money I had. I am a government employee and have nothing to fear about making this deposit,” said Prashant from Tallagadda, coming out of the Bank of India branch in Santoshnagar. More...
All Commissioners and SPs in Telangana have been asked to provide sufficient security at banks and post offices to ensure that there is no stampede or any other law and order issue.
Telangana DGP Anurag Sharma directed that all unit officers must monitor developments closely.
The situation is no different outside a State Bank of Hyderabad branch at Malakpet in Hyderabad. Photo: G. Ramakrishna
“Tomorrow please make sufficient bandobust at banks and post offices to ensure that there is no stampede or any other law and order issue,” he said in a text message to officers.
Hyderabad Police Commissioner M Mahendar Reddy held a meeting and issued instructions to all DCPs, ACPs and Station House Officers to make adequate security arrangements.
(with inputs from agencies)
Hindustani78
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http://www.thehindu.com/news/nation...ange-info-on-fake-currency/article9325227.ece
Rajnath asks Beijing to clamp down on Pakistan’s bid to smuggle fake currency into India.
India and China have agreed to open a 24x7 hotline to exchange information on fake currency notes. A key Chinese leader, Meng Jianzhu, who was on a day-long visit here, on Wednesday held talks with Home Minister Rajnath Singh.
Mr. Singh asked Beijing to clamp down on Pakistan’s nefarious designs to smuggle fake Indian currency into India through China while referring to the recent arrest of a Pakistani national in Guangzhou with fake Indian currency.
Mr. Jianzhu, Secretary of the Central Political and Legal Affairs Commission of the Communist Party of China also met Prime Minister Narendra Modi.
“Raising India’s concerns on terrorism, the Home Minister appealed the Chinese leader to support the international community’s efforts to designate as a dreaded terrorist the leader of the Jaish-e-Mohammed, a terrorist group already designated under the U.N. Resolution 1267. Underlining that Pakistan was patronising and financing terrorist groups, Mr. Singh said that leaders of terrorist groups including JeM leader Masood Azhar, Lashkar-eTaiba leader Hafiz Saeed and Hizbul Mujahideen leader Salahuddin roam freely in Pakistan and preach terrorism,” a Home Ministry statement said.
“Even the Tehreek-e-Taliban and Lashkar-e-Jhangvi, blamed for terrorist attacks inside Pakistan, were financed by the ISI, he said. Pointing out that there can be no good or bad terrorist, the Home Minister said terrorism is not one or another country’s problem, rather it is a threat to global peace and security.
Mr. Singh also sought Beijing’s support to flush out ULFA leader Paresh Barua, who is believed to be taking refuge in the trijunction between India, Myanmar and China, to face trial in India for heinous crimes including murders. He also asked China to clamp down on arms smuggling to insurgent groups operating in India’s North-East.
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