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SBI ATM dispenses fake notes, 'Children Bank of India' printed on them in place of Reserve Bank of India
New Delhi, Feb 22: An SBI ATM here dispensed fake 2,000 rupee notes, and police said on Wednesday that they had identified the culprits. The incident was reported in south Delhi where a State Bank of India ATM dispensed the fake notes on February 6, with "Children Bank of India" printed in place of Reserve Bank of India, according to the FIR accessed by IANS.The notes also had numerous glaring discrepancies including the words "Churan lable", a "PK" logo and "000000" serial number.It also read "Guaranteed by the Children's Government" printed in place of "Guaranteed by the Central Government".Additional Deputy Commissioner of Police Rajiv Ranjan Singh told IANS that the vendor who supplied the cash to the ATM and the persons who inserted the fake notes had been identified.The officer put the number of fake notes dispensed by the ATM at three.Asked why no arrest had been made so far, Singh said: "The case is still a m...




Cash withdrawal weekly limit goes up to Rs 50,000
Mumbai, Feb 20: The first stage of the two-stage lifting of limits on cash withdrawals from savings bank accounts became effective on Monday, with the weekly limit rising to Rs 50,000 per account from Rs 24,000.Cash withdrawal limits are slated to cease from March 13.Reserve Bank of India (RBI) Deputy Governor R. Gandhi announced the lifting of limits on February 8.On January 30, the RBI ended all curbs on withdrawals from Current Accounts, Cash Credit Accounts and Overdraft Accounts.The limits were placed following the November 8 demonetisation of Rs 1,000 and Rs 500 currency notes. The upper limit for withdrawals from ATMs was Rs 2,500 initially and was later raised to Rs 4,500.In January, the RBI hiked the daily ATM withdrawal limit to Rs 10,000 and doubled the weekly Current Account withdrawal limit to Rs 1 lakh.The upper limit for weekly withdrawal from bank accounts was raised to Rs 24,000 from Rs 20,000 in November.The lifting of ATM withdrawal limits from March 13 will represen...




Panaji bans selling of paan
Panaji, Feb 17: The humble paan, chewed across the subcontinent by the rich and the poor alike, has made Panaji Mayor Surendra Furtado see red.The Mayor of Goa's capital on Thursday banned all paan-selling kiosks, and set up a special municipal task force on Friday to physically identify and evict paan-sellers. All of them, according to Furtado, are illegally operating in the city."A Goan would rather have a sip of feni, instead of chewing on paan. It is against this great city's cultural ethos. Plus paan pouches are clogging the city's drainage system and people spitting everywhere after eating paan and are ruining our capital's beauty," Furtado told IANS on Friday."The special task force will identify paan sellers and evict them to ensure that the city is paan-free," Furtado also said.A paan essentially comprises of a betel leaf, smeared with lime (chuna) and catechu (katha) paste, sprinkled with crushed betel nut, sometimes mixed with tobacco, other additives lik...




EC should probe Irom's allegation about Rs 36-Cr offer from BJP: Congress
IndiaTomorrow.net, New Delhi, Feb 16: The Congress party on Wednesday filed a complaint with the Election Commission of India (EC) seeking probe into Manipur-based civil rights activist Irom Sharmila's allegation that BJP had approached her with an offer of Rs 36 crore to contest against Manipur Chief Minister Ibobi Singh in the ongoing assembly election in Manipur.   In a letter written to Chief Election Commissioner Nasim Zaidi, KC Mittal, the head of the legal cell of Congress, demanded that an independent investigation must be conducted by a high level team "to collect entire material and evidence and prosecute persons found responsible for such offer of bribe for electoral purposes."   However, national general secretary of BJP, Ram Madhav has denied the allegations levelled by Irom Sharmila, who is contesting against Ibobi Singh as a candidate of her newly formed outfit - PRJA (Peoples' Resurgence and Justice Alliance).   "...The statement ma...




Impacts of demonetisation on UP elections
Ghazanfar Abbas, IndiaTomorrow.net, Bareilly, Uttar Pradesh, Feb 14: Isn't it foolish to think that demonetisation won't impact voting preference of the poor and low-income families who were badly affected by it? It could be because there is no one you talk to about impact of demonetisation and he says he remained unaffected by note ban and he is doing very well.   "Demonetisation has badly affected our work. How can we do business when we don't have money? How will we feed our children and run family," asks a carpenter in the city of Bareilly.   "The government should look into it and provide support and facility to poor people," he demands. "When they expect vote from us, they should also think about our rights," he points out.   He is not alone. There are thousands and thousands of people with the same view. The central government demonetised old notes of Rs 1000 and Rs 500 on 8th Nov 2016.   "Orders are lying. Th...




Demonetisation has demolished embroidery industry in Bareilly
Ghazanfar Abbas, IndiaTomorrow.net, Bareilly, Feb 13: Demonetisation of old high-value currency notes of Rs 1000 and Rs 500 (since 8th Nov 2016) has hit various industries, particularly the small cottage industries in the country. The embroidery industry in Bareilly is one of them.     "Since the demonetization (8th Nov 2016), our embroidery work has almost stopped due to shortage of money. We have only 8-10 percent work left," says Mohammad Mushtaq, an embroidery worker.   Mohammad Nayeem, another worker, says: "Before demonetisation, we had 10-12 workers, now there are only two. Some have moved to Delhi, some others to Punjab."   Nusrat, also a worker, says, "The work was going fine earlier. It is very bad now."   Her husband Mohammad Shamim says, "We are facing problems everywhere, do not have money to pay fee in school."   We work for 14 hours, and then get only Rs 200, says another worker.   Th...




Mamata allocates Rs 250 Cr to help people who lost jobs due to demonetisation
Kolkata, Feb 11; Criticising the central government's demonetisation move, West Bengal Finance Minister Amit Mitra on Friday set aside Rs 250 crore to assist workers who lost their jobs due to the note ban.Presenting a budget for 2017-18 sans any fresh taxes, Mitra also proposed a Rs 100 crore special fund for farmers and agricultural workers who suffered due to the demonetisation."There are many workers who have lost their jobs due to demonetisation and came back to the state. They have been suffering a lot. I am proposing a one-time grant of Rs 50,000 each to 50,000 jobless workers so that they could start their own venture. For this, I allocate a fund of Rs 250 crore in this budget," Mitra said."Farmers and agricultural workers, who depend on cooperative loans, have suffered a lot after implementation of note ban. I propose a Rs 100 crore special fund in order to alleviate their hardships," he said, even as most of the opposition benches remained vacant with Cong...




Over 50% of Haj subsidy amount reduced in last 4 years
IndiaTomorrow.net,New Delhi, Feb 9: Implementing the order of the Supreme Court, the Union Government is gradually reducing Haj subsidy and it will be eliminated by 2022 as per the apex court order. In the last four years, the government has made a reduction over 50% in the last four years – Rs 836 crore in 2012-13 to Rs 405 crore in 2016-17. Union Minority Affairs Minister Mukhtar Abbas Naqvi informed Lok Sabha on Wednesday: “An amount of Rs.836.56 crore as subsidy was given by the Government in 2012-13. Progressively, it reduced to Rs.680.03 crore in the year 2013-14 , Rs.577.07 cror in 2014-15, Rs. 529.51 crore in 2015-16 and Rs. 405 crore (approx) in the year 2016-17.”   Along the reduction in Haj subsidy, the fare amount paid by each Haj pilgrim has gone up from Rs 28 thousand in 2013 to Rs 45 thousand in 2016. See the chart below.   Year Total subsidy including Amount deposited to Haj Committee by &n...




Cash withdrawal limit to be Rs 50,000 from February 20; no limit from March 13
Mumbai, Feb 8: The limits on savings bank cash withdrawals post-demonetisation are to be withdrawn in two stages, the Reserve Bank of India announced on Wednesday, with the limit slated to go up to Rs,50,000 per account from February 20 and to cease from March 13.The announcement was made by RBI Deputy Governor R. Gandhi following the fiscal's last monetary policy review announcement by the central bank at which it kept its key interest rate unchanged at 6.25 per cent, saying it awaited data on the full impact of the government's demonetisation drive three months ago.On January 30, the RBI had ended all curbs on withdrawals from Current Accounts, Cash Credit Accounts and Overdraft Accounts.The limits were placed following the November 8 demonetisation of Rs 1,000 and Rs 500 notes. The upper limit at ATMs was just Rs 2,500 initially and was later raised to Rs 4,500.In January, the RBI had hiked the daily ATM withdrawal limit to Rs 10,000 and doubled the weekly Current Account withdrawal...




167 bank officials suspended for note ban irregularities: Finance Ministry
New Delhi, Feb 7: A total of 167 bank officials have been suspended and 41 transferred for their involvement in irregularities relating to demonetisation, Parliament was informed on Tuesday."As part of their staff accountability mechanisms, on the basis of prima facie involvement in irregularities relating to demonetisation, Public Sector Banks (PSBs) are so far reported to have placed 156 officials under suspension and to have transferred 41 officials," Minister of State for Finance Santosh Kumar Gangwar said in a written reply in the Rajya Sabha here."In respect of private sector banks, Reserve Bank of India (RBI) has informed that 11 employees have been placed under suspension where bank employees have been found involved in 'irregular exchange of transaction' of Specified Bank Note (SBN) during the phase of demonetisation," Gangwar said.The RBI has further informed that the banks have initiated internal investigation and complaints have been filed with the polic...




Finance Minister moves demonetisation bill for passage in Lok Sabha
New Delhi, Feb 7: Finance Minister Arun Jaitley on Tuesday moved the Specified Bank Notes (Cessation of Liabilities) Bill for passage in the Lok Sabha to formally make the banning of Rs 500 and Rs 1,000 notes a law, which includes provision of penalty for holding the demonetised notes."Once a currency ceases to be legal tender, you cannot allow it to operate. Holding the currency beyond the permissible limit, will become an offence," Jaitley said here.The Specified Bank Notes (Cessation of Liabilities) Bill, 2017, seeks to replace the ordinance on demonetisation promulgated by the government in December 2016.The bill, like the ordinance, provides that the specified bank notes, which have ceased to be legal tender, shall "cease to be liability of Reserve Bank of India".Brought as a money bill, the Rajya Sabha will not have any major role in its passage.A financial memorandum with the bill said it involves decision having impact on the "contingent liabilities of ...




Eminent citizens set up whistle-blowers' forum to expose corruption
Mumtaz Alam, IndiaTomorrow.net, New Delhi, Feb 7: In the absence of a credible public authority who can entertain whistle-blowers' complaints against corruption in government departments and private companies, some of India's eminent citizens have joined hands to set up a platform through which complaints of whistle-blowers could be taken up with the authorities concerned or in the courts.   The Citizen's Whistleblower Forum would be chaired by Justice AP Shah, former chief justice of Delhi High Court, and Admiral (Retd) L Ramdas, former chief of Indian Navy would Vice Chairman. Renowned public interest lawyer Prashant Bhushan would be its member secretary. It was announced at a press conference at the Press Club of India here on Tuesday.   "Till today, the Whistle-blower Protection Act has not been notified and CVC is not working properly. In this situation, it was decided that there should at least a citizen's forum of credible persons who can examine complaints o...




Govt must see ground impacts of demonetisation, not ignore them as Opposition's criticism: Rajeev Shukla
Mumtaz Alam, IndiaTomorrow.net, New Delhi, Feb 6: Senior Congress leader and Member of Rajya Sabha Rajeev Shukla on Monday urged the central government of Prime Minister Narendra Modi to assess the ground impacts of demonetisation and it must not ignore them mere as Opposition's criticism.   Speaking in the Rajya Sabha on Monday, participating in the debate over the Union Budget 2017, Shukla said thousands and thousands of people have become jobless after demonetisation and have returned home and small businesses were massively affected by it. He said it will be wrong to ignore Opposition's comments on demonetisation.   While welcoming the idea of cashless economy, he said the government should have implemented it gradually and not impose it one go.   Prime Minister Modi announced demonetisation on 8th Nov 2016 making old notes of Rs 500 and Rs 1000 as illegal.




Supreme Court rejects PIL challenging Enemy Property Act ordinance
IndiaTomorrow.net, New Delhi, Feb 6: The Supreme Court of India on Monday refused to entertain a petition challenging the promulgation of the Enemy Property Act ordinance. The BJP-led NDA government at the centre had promulgated the ordinance in Dec 2016.   According to ANI news agency, the apex court declined to entertain the petition filed by a Member of Parliament.   Hussain Dalwai, Rajya Sabha MP from Congress, had filed the petition in Jan this year. He had questioned the validity of the government re-promulgating the Enemy Property Ordinance for the fifth time and called it a clear violation of the recent order by a constitution bench of the apex court.   In Jan 2 order, the constitution bench had said: "Re-promulgation of ordinances is constitutionally impermissible since it represents an effort to overreach the legislative body which is the primary source of lawmaking authority in a parliamentary democracy."   Senior Supreme Court lawyer ...




Govt. sets up panel to study Haj policy, subsidy
IndiaTomorrow.net, New Delhi, Feb 5: The central government has formed a six-member committee to look into Haj subsidy and other issues in order to improve country's Haj policy. The panel has been set up in the light of the 2012 order of the Supreme Court on gradually reducing subsidy and abolishing it by 2022.   "The panel will give us a report in a month or two on how India's Haj policy can be improved, how the pilgrims can get maximum concessions and how Haj can be managed better," Union Minority Affairs Minister Mukhtar Abbas Naqvi was quoted as saying by PTI news agency. The panel will also review the effectiveness of the management of pilgrims' accommodation and air travel by the Haj Committee of India.   The government has appointed Afzal Amanullah, senior IAS officer and former Consul-Consul General of India in Jeddah, as convenor of the committee. Other members are: Justice S.S. Parkar, former Bombay High Court judge; Qaiser Shamim, former chairman of ...




Banned notes: What FM revealed is important, what he hides is crucial
New Delhi, Feb 3: Finance Minister Arun Jaitley, during his budget speech on Wednesday, provided a glimpse into the number of demonetised notes deposited between November 8 and December 30, 2016, without giving the full picture.Is it because the full picture is fraught with difficulties?Jaitley said deposits of over Rs 2 lakh and up to Rs 80 lakh in banned currency notes were made in 1.09 crore accounts, at an average of Rs 5.03 lakh per account.He further said deposits of over Rs 80 lakh were made in 1.48 lakh accounts, at an average of Rs. 3.31 crore per account.Which means a mere 1.1 crore accounts saw deposits worth Rs 10.38 lakh crore -- more than two-thirds of the Rs 15.44 lakh crore worth of Rs 500 and Rs 1,000 that were declared illegal on November 8.The number of individuals, firms and companies who would have deposited this amount would be lower, since many have multiple accounts.Given that India has over 143.98 crore bank accounts (RBI figure for March 2015), two-thirds of t...




Allocation for Minority Welfare in 4 budgets of Modi govt
IndiaTomorrow.net, New Delhi, Feb 2: The Union Budget 2017-18, presented in the Parliament on Wednesday, was the fourth national budget of the Narendra Modi government at the centre. The growth in the budgetary allocation for Minority welfare has not been steady through these years.   In Feb 2014, the then Congress-led UPA government presented interim budget which proved to be its last one as in the General Elections three months later (in May 2014), it was dethroned by the BJP-led NDA alliance and then Gujarat chief minister Narendra Modi became Prime Minister of the country. In the Feb 2014 interim budget, the Congress-led UPA regime had allocated Rs 3,711 crores for Minority Welfare, that was an increase of 5.38% compared to the last allocation of Rs 3,511 crores. But in its first full budget soon after taking charge (May 2014), the Modi government made a cut of over 16% in the budgetary allocation for the Minority welfare. It allocated only Rs 3089 crores, that was Rs 6...




Deposits between Rs 2 lakh-80 lakh made in 1.09 crore accounts after demonetisation
IndiaTomorrow.net, New Delhi, Feb 2: "After the demonetisation, the preliminary analysis of data received in respect of deposits made by people in old currency presents a revealing picture," said Finance Minister Arun Jaitley in his Budget 2017-18 speech in Lok Sabha on Wednesday.   "During the period 8th November to 30th December 2016, deposits between 2 lakh and 80 lakh were made in about 1.09 crore accounts with an average deposit size of 5.03 lakh," said Jaitley.   "Deposits of more than 80 lakh were made in 1.48 lakh accounts with average deposit size of 3.31 crores," he said adding that this data will help government in expanding the tax net.   "This data mining will help us immensely in expanding the tax net as well as increasing the revenues, which was one of the objectives of demonetisation," he said.




Tax sops for individuals, small firms; more money for welfare: Jaitley
New Delhi, Feb 1: Hoping for a 17-per cent growth in taxes revenues, Finance Minister Arun Jaitley on Wednesday presented the Union Budget 2017-18, offering more money for welfare schemes, minor tax sops for individuals and small firms, with a fiscal deficit of 3.2 per cent of GDP.In his fourth budget as Finance Minister presented in the Lok Sabha, Jaitley also made some far-reaching changes in political funding, placing a cap of Rs 2,000 on the donation which any party can receive from one source in cash.The budget, which pegs the total expenditure for 2017-18 at Rs 21.47 lakh crore -- with a 25.4 per cent jump in capital-side outlay -- continued with the government's focus on curbing black money by limiting cash transactions to less than Rs 300,000.In his 110-minute budget presentation, Jaitley also assured a law to confiscate the assets of fugitive economic offenders.On demonetisation, he said, it will have substantial long-term benefirs and spur growth, and added that with the curr...




Budget 2017-18: What's cheaper, what's dearer
New Delhi, Feb 1: Though Finance Minister Arun Jaitley in his budget speech for 2017-18 on Wednesday said his proposals on excise and customs duties will not result in any significant loss or gain to the exchequer, the fine print suggests a host of items can become either cheaper or dearer.Items like LED lamps, solar panels, printed circuit boards for mobiles, micro ATMs, finger-print machines and Iris scanners will potentially become cheaper.On the other hand, silver coins, cigarettes and tobacco, bidis, pan masala, goods imported through parcels, water filter membranes and cashew nuts will become dearer."Centre, through the Central Board of Excise & Customs, shall continue to strive to achieve the goal of implementation of GST (Goods and Services Tax) as per schedule without compromising the spirit of co-operative federalism," Jaitley said while presenting the Budget."Implementation of GST is likely to bring more taxes both to central and state governments because ...




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