RBI : - Currency Change issued prior to 2005

Friends

           Reserve Bank of India has issued  Press Release :- 2013-2014/172 dated 22-01-2014 regarding change of Indian Currency issued prior to 2005 under time limitation given below :-

January 22, 2014

Banknotes issued prior to 2005 to be withdrawn: RBI Advisory

                The Reserve Bank of India has today advised that after March 31, 2014, it will completely withdraw from circulation all banknotes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication. The Reserve Bank further stated that public can easily identify the notes to be withdrawn as the notes issued before 2005 do not have on them the year of printing on the reverse side. (Please see illustration below)

                  The Reserve Bank has also clarified that the notes issued before 2005 will continue to be legal tender. This would mean that banks are required to exchange the notes for their customers as well as for non-customers. From July 01, 2014, however, to exchange more than 10 pieces of `500 and `1000 notes, non-customers will have to furnish proof of identity and residence to the bank branch in which she/he wants to exchange the notes. 

               The Reserve Bank has appealed to the public not to panic. They are requested to actively co-operate in the withdrawal process.

 Ajit Prasad

Press Release : 2013-2014/1472                                                                      Assistant General Manager

पहचानो पैसे की बोली, क्यूंकि पैसा बोलता है |

Friends,   How to know fake Indian Currency.  This post is not important for a particular person, but important for all persons.   Everyone deals in currency, therefore it is general requirement to know parameters  regarding genuine currency.   Six denominations are available in India detailed given below. 

1. 1000.
2.   500.
3.   100.
4.     50.
5.    20.
6.    10.

How to know difference in Real or Duplicate Indian Currency. 

In denomination of  Rs 1000/-, eleven checks are available. 

1. See through Register.
   
   The flora designs printed on the front and reverse in the middle of the vertical band next to the watermark window has the denominational numeral 1000.   Both the printed portions have an accurate back to back registration so that the numeral appears as one when seen against light.
   
2. Watermark.
   
   Hidden portrait of Mahatma Gandhi, the multidirectional lines * an electrotype mark showing the numeral "1000" appear in the section.  It can be seen better when viewed against light.
   
3. Optically variable ink.
   
   The color of the numeral "1000" appears green when the banknote is held flat, but would change to blue when tilted to an angle.
   
4. Fluorescence
   
   The banknote series, Number panel, Security thread and few particles (scattered in a note will glow when exposed to ultraviolet light.
   
5. Security Thread
   
   It will have "bharat", "RBI" and "1000" inscriptions on it and the thread will change color from green to blue when viewed from different angles.  The thread is visible as a continuous line from behind when viewed against light.
   
6. Intaglio Printing
   
   The portrait of Mahatma Gandhi, the Reserve Bank seal and 'ek hazaar rupiye' are printed in intaglio (raised link), which can be felt by touch.
   
7. Latent Image
   
   The vertical band on the extreme right of the bank note contains a latent (hidden) image of the numeral '1000', which can be seen when the note is held at eye level.
   
8. Micro Lettering
   
   The letters 'RBI' & can be viewed with the help of a magnifying glass in the zone between Mahatma Gandhi portrait and the vertical band.
   
9. Identification Mark
   
   Diamond with intaglio print which can be felt by touch, helps the visually impaired to identify the denomination.
   
10. Year of Printing
    
    Year of printing appears on the reverse of the bank note.
    
11. See through Register
    
    The floral designs printed on the front and back fit into each other and appear as one when seen against light. 

In this way all denominations can be checked in below screen

Issued in the Public Interest by Reserve Bank of India.
View in Full Page (Click Here )

Clarification of Dishonour of EFT (Electronic Funds Transfer) due to insufficient funds in bank

Dishonour of Electronic Funds Transfer for insufficiency of Funds in Bank Account-Clarification

DOC/2011-12/191
DPSS. CO.PD.No.497/02.12.004/2011-12

September 21, 2011

The Chairman and Managing Director / Chief Executive Officers
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks

Dear Sir/Madam,

Dishonour of electronic funds transfer for insufficiency of funds in the bank account – clarification

As you may be aware section 25 of the Payment and Settlement Systems Act, 2007 accords the same rights and remedies to the payee (beneficiary) against dishonour of electronic funds transfer instructions for insufficiency of funds in the account of the payer (remitter), as are available to the payee under section 138 of the Negotiable Instruments Act, 1881.

2. The sub-section (5) of the section 25 of the Payment and Settlement Systems Act, 2007 provides for punishment of two years and twice the amount of electronic funds transfer instruction, or both for dishonour of such electronic funds transfer on par with the penalties stipulated for dishounour of cheques under the Negotiable Instruments Act, 1881.

3. We accordingly advise you to popularise the electronic fund transfer modes amongst your customers by allaying any apprehensions on the rights and remedies available to the payees against dishonour of electronic funds transfer instructions.

Yours faithfully

(Vijay Chugh)
Chief General Manager

New Coin of 150 Rupees

"The Income Tax department celebrated 150 years of taxation in the country last year and the these coins, especially the one in Rs.  150 denomination will be minted for the first time," a senior I-T official said.

For the first time in the country's minting history, government will issue coins of Rs.  150, marking the number of years of taxation in India.

The special coins, to be released by Finance Minister Pranab Mukherjee before his Budget speech, will also be brought out in Rs.  5 denomination on the occasion of completion of 150 years, from 1860 to 2010, of the Income Tax department.

This is the first time that coins of Rs. 150 denomination are being minted by the government. The Department of Economic Affairs under the Finance Ministry recently notified the order.

The Rs. 150 coin, made of an alloy of Silver, Copper, Nickel and Zinc, will have an international design with 'Satyameva Jayate' and 'India' on the front side while a portrait of 'Chanakya and lotus with honeybee' on the reverse side.

The Rs. 5 coins will also be minted in the same fashion. While 200 coins will be minted in Rs. 150 denomination, 100 such coins of Rs.  5 will be issued.

How to Type New Indian Currency in M.S. Word

        Indian  currency symbol has been changed to  .   This symbol has been accepted as Indian Currency sign  by the Government.   Now to take place as common use.  It is necessary to know how can we write this symbol in M.S. Office (Word).  Without any font support it is very much difficult to write.  Presently there is no any facility in default window to write new Indian Currency Symbol as .  

 Yes,  font new currency symbol version can be downloaded from here. 

How to Install Font 

                    After download font.zip file .  Extract it .  There will be a .exe file to install the font.  Simply click on exe file font will be installed automatically. In case any problem you may manually paste .ttf (available in font.zip file)  in below path :-

Start >Control Panel > Switch to Classic Mode > Font folder > Paste Here

                     After font installation , open M.S. Word either in Office 2003 or in Office 2007.  Font can be changed  to "Rupee Foradian" as shown in below picture. 

How to type in Word
                   Key in Computer Keypad  is  just before 1(one).   Use one from keypad not from Num Keys.   Picture view of key is given below marked with black color. 

Yes, it is simple after installation of font one time in your computer.  

Download font.zip file