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Mangaluru: 'Old series' Rs 100 currency notes will gradually go out of circulation' – RBI AGM

  •   Fri, Jan 22 2021 11:31:04 AM

Pics: Spoorthi Ullal

Daijiworld Media Network - Mangaluru (DV)

Mangaluru, Jan 22: Assistant General Manager (AGM) of the Reserve Bank of India (RBI) B Mahesh on Thursday January 22 said that the old series of currency notes including Rs 100, Rs 10 and Rs 5, will gradually go out of circulation with RBI planning to withdraw them by March-April.

He was speaking during the District Level Security Committee (DLSC) and District Level Currency Management Committee (DLMC) meeting organised by the District Lead Bank at Netravati Hall in zilla panchayat.

Stating that fifteen years after introduction of Rs 10 coin, he said, majority of traders, business class are not accepting the coins and this has created problems for banks and RBI, as piles of Rs 10 coins has increased in the chests of the banks.

He also asked the banks to find an innovative way to push the Rs 10 coins, prevent the rumours that Rs 10 coins are not valid and educate the masses that coins are not counterfeit but are valid.

 

 

 
  

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Comment on this article

  • Rita, Germany

    Sat, Jan 23 2021

    Very funny.RBI is asking what to do with coins?why did they and what they thought when brought out coins or printed Rupees Notes?

    It should have its value.when they withdraw currency notes RB must take back without problem.when they say 10Rupees will be withdrawn then give out same amount to the citizens back.why problem?

    A country when puts out its or prints currency,the value should be garantied by RBI.Now all shops or others will not accept citizens notes or coins.A big loss to all same happened during withdrawal of Rs 1000 or others.They do as they want not as it should be.For example in EU or in Germany previous D Mark is not there ,but has its value.One who has DM still exchange in Euro or buy in shops in DM.can also exchange in Landes Bank.

    DisAgree Agree [1] Reply Report Abuse

  • Anth, Pune

    Fri, Jan 22 2021

    Genuine hard working people have already been cheated of their hard earned money. Even now one finds old Rs500 and Rs 1000 notes...What to do with them???
    What was the need for announcing this...Government should just not have printed more old notes and withdrawn the old notes as it came to them quielty...This annoucement will create panic
    Why create panic in the already helpless people especially the poor folks.
    Already people have no jobs and fear of the virus is so high...
    It is not good to have such fear vibrations in each and every person especially the poor...It will attract negative events...
    What will peole do with the old Rs 100 notes that they have kept all over the place...People ..hard working people should not be harassed like this..

    DisAgree [4] Agree [10] Reply Report Abuse

  • Ganesh, Vamadapadavu,bantwal.

    Fri, Jan 22 2021

    Dear fake desh bhakth- iseeko hindu me kahthe hai "peechwaade me aag"

    DisAgree [13] Agree [1] Reply Report Abuse

  • Deshbhakt, Mangalore

    Fri, Jan 22 2021

    kal ghar mein mirchi ka saalan banaa thaa kyaa ?

    DisAgree [1] Agree [12] Reply Report Abuse

  • Bharath jain, Mangalore

    Fri, Jan 22 2021

    Again he is putting the ball in the people court you should print ed 10 rupees notes instead of coins we will give the coins to you it is a blunder you have created without using your pea-sized brains.........

    DisAgree Agree [12] Reply Report Abuse

  • Dylan, Mangalore

    Fri, Jan 22 2021

    The Chaiwala & Co. have only fooled the country. What happened to the smart city projects initiated by the Government? We have a good example in Mangalore the smart city projects gone for a toss.
    By the way what happens to bringing back BLACK MONEY stacked in foreign banks.

    DisAgree [2] Agree [22] Reply Report Abuse

  • AMAR NATHAL, MANGALORE

    Fri, Jan 22 2021

    Rs 10//= coint is outdated in size and weight. Just study coins of US and European union for its quality and size. We seem to pretend as if we are the first ones to invent coins and allot big size for RS 10/=

    DisAgree [1] Agree [15] Reply Report Abuse

  • abdul munim, UDUPI

    Fri, Jan 22 2021

    the only achievement of chaiwala and company is changing the colour of notes, demonetization, introduction of gst..not a single developmental work..

    The last six years have gone in only jumlabaazi..

    People still vote for him as bacchali party has fooled the majority of this country with the religion card

    DisAgree [14] Agree [35] Reply Report Abuse

  • Ganesh, Vamadapadavu,bantwal.

    Fri, Jan 22 2021

    Pichwaade pe aag hai. Bhai thoda dheeraj rakho ab tho shuruwaath hai aage dekho kya hotha hai!!!

    DisAgree [19] Agree [7] Reply Report Abuse

  • Deshbhakt, Mangalore

    Fri, Jan 22 2021

    Ganesh,Vamadapadavu,

    Modiji ne kyaa pedon ka jangal banaa rakha thha jise kaat ker naye note chhappe thhe ? Who paid for the expenses to print new currency notes ? Hope you did not 'vugal it out' ??

    Shuruwaat kyaa ? Artth vyavasta to 70 saal peeche paunch chuki hai. Aur bhi baaki kya rakkha bhai ??

    DisAgree [2] Agree [20] Reply Report Abuse

  • Ganesh, Vamadapadavu,bantwal.

    Fri, Jan 22 2021

    In the name of secular india after independence the barbaric moghul invaders became heroes.

    DisAgree [13] Agree [3] Report Abuse

  • Deshbhakt, Mangalore

    Fri, Jan 22 2021

    Ganesh, Vamadapadavu,

    Don't even dare talking about independence.

    None of your leaders nor their forefathers were there in the struggle, they were in the British Camp doing 'chamchagiri' against freedom fighters.

    As such, you deserve to be a slave, forget what the Moghuls or those prior to them did to India.

    And, don't put too much pressure on your little brain to comment in English, continue with your Hindi Gyaan, don't think you alone are a Pandith in the whole country.

    DisAgree [3] Agree [9] Report Abuse

  • Monty Dotor, Mangalore

    Fri, Jan 22 2021

    All currency notes above 100 should be removed ( not DEMO 2.O by NAMO 2.0) gradually from circulation. Smaller transactions can be done with small denomination notes and bigger transactions by CHQ / DD / electronic transfer etc. Black money and crime will come down but you will need a person with 90 " chest to do this ......

    DisAgree [6] Agree [16] Reply Report Abuse

  • Mangalorean, MANGALURU

    Fri, Jan 22 2021

    He has already killed enough businesses and people which people are still struggling to recover.

    You think businesses in Indian still run on bank transactions? With so much of technology and everything, none of the banks have good servers, go digital is a farce.
    Servers keep hanging and things are never done in time, so stop putting such stupid ideas in people's heads. People who had to convert their black money into white have already done it and we know who it is as well.

    DisAgree [4] Agree [24] Reply Report Abuse

  • Deshbhakt, Mangalore

    Fri, Jan 22 2021

    Monty,

    Simple matter. How many shops give you a bill for your purchase ? Do grocery shops give ? Fish/Milk/vegetable seller give ? Steel items, sand, stone traders give ? Then, how are they filing their GST ? If GST is not filed, how is the tax being collected for all the trade that is taking place on day-to-day basis ? GST is not a manual system surely ? In this situation, what electronic system are you relying on ?

    This is Chaiwala's gift to India. One nation, one tax system.

    DisAgree [2] Agree [15] Reply Report Abuse


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Title: Mangaluru: 'Old series' Rs 100 currency notes will gradually go out of circulation' – RBI AGM



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