18
Sunday
August 2019
6:53 AM IST
News Headlines
Deepa Malik joins Bajrang for Khel Ratna, cricketer Jadeja among 19 for Arjuna        Mary Kom recuses herself from Saturday's sports award meeting        Trump says Apple will spend 'vast sums' in US        Coffee Day Enterprises says debt to fall to Rs 1,000 cr post sale of Bengaluru tech park        Modi arrives in Bhutan on two-day visit        Hong Kong protest tensions heat up in Australia        Separatists vacate key offices in Yemen's Aden: Minister        Fire at AIIMS, 22 fire tenders rushed        Soldier killed in Pak firing along LoC in J-K's Rajouri        Jaitley on life support; Nitish, Piyush Goyal and others visit AIIMS        Ravi Shastri reappointed head coach of Indian team till 2021        Archer strikes as Australia slump to 80-4 in second Ashes Test        Hong Kong protests: Trump urges Xi to meet pro-democracy demonstrators        Myanmar, Bangladesh schedule Rohingya repatriation        2 Israelis, Palestinian assailant hurt in West Bank car ramming: army        Sensex, Nifty edge higher on stimulus talks; post weekly loss        Over 3,000 temporary jobs cut due to slowdown: Maruti Suzuki        Airtel shareholders approve waiver in recovery of excess pay to Mittal        Kashmir remains shut for 12th consecutive day        We would like to give little time: SC on plea seeking removal of restrictions on media in J-K        
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Business News
Law which allowed circulation of Rs 1000 notes in 1999 scrapped
 
New Delhi: A law which allowed the Reserve Bank of India to circulate Rs 1000 denomination notes to tide over the shortage of currency in the late 1990s has been scrapped.

The High Denomination Bank Notes (Demonetisation) Amendment Act, 1998 is one of 58 "redundant" laws repealed last week. Parliament passed a bill to repeal 58 laws from the statute books on Friday.

The then finance minister, Yashwant Sinha, had moved bill in December 1998 to allow RBI circulate Rs 1000 denomination notes.

"To eliminate the shortage of currency notes and to ease the pressure on other denominations, it is proposed to amend section 2 of the High Denomination Bank Notes (Demonetisation) Act, 1978. This will facilitate the Reserve Bank of India to issue notes of Rs 1,000 denomination immediately," read the amended Act which came into force in 1999.

On 8 November 2016, the government announced demonetisation of all Rs 500 and Rs 1,000 banknotes of the Mahatma Gandhi series.

It also announced the issuance of new Rs 500 and RS 2,000 notes.

The Rs 1000 denomination notes are no longer in circulation.

The 58 laws repealed last week would now be removed from the statute books.


Trump says Apple will spend 'vast sums' in US
Coffee Day Enterprises says debt to fall to Rs 1,000 cr post sale of Bengaluru tech park
Sensex, Nifty edge higher on stimulus talks; post weekly loss
Over 3,000 temporary jobs cut due to slowdown: Maruti Suzuki
Airtel shareholders approve waiver in recovery of excess pay to Mittal
Rupee slips 12 paise to 70.93 vs USD in early trade
Gaana looking to break-even in next 4-5 years
Rupee suffers biggest slump in 6 yrs; closes at 4-mth low of 70.73 on yuan shock
Sensex tanks over 418 points amid Kashmir uncertainty
JM Financial arm to raise up to Rs 500 cr
RBI imposes Rs 50 lakh fine on SBI
Trump warns China of substantial increase in import tariffs
RBI imposes Rs 11 cr fine on seven PSBs for violating norms
NTPC chief for setting up of clean power projects without PPAs
Gold prices up marginally; silver tumbles by Rs 590 per kg
D K Mohanty assumes charge as RINL's director
JSPL supplies 1.26 LT rails to Indian Railways
Fiscal deficit touches Rs 4.32 lakh crore in Q1
CBI books Rolls Royce in corruption case
RBI slaps Rs 26 lakh fine on Mobikwik, Hip Bar for violating norms
KERALA NEWS
Flood in Kerala: CM conducts aerial survey
 Kochi: Kerala Chief Minister Pinarayi Vijayan along with his ministers and government officials carr  
Kerala rains: Toll climbs to 88, 40 still missing
Red Alert in Alappuzha, Ernakulam and Idukki
Singer Biju Narayanan's wife passes away
INTERNATIONAL NEWS
Modi arrives in Bhutan on two-day visit
 Paro: Prime Minister Narendra Modi received a red-carpet welcome as he arrived in Bhutan on Saturday
Hong Kong protest tensions heat up in Australia
Separatists vacate key offices in Yemen's Aden: Minister
Hong Kong protests: Trump urges Xi to meet pro-democracy demonstrators
NATIONAL NEWS
Fire at AIIMS, 22 fire tenders rushed
 New Delhi: A fire broke out at the AIIMS here on Saturday evening and 22 fire tenders were rushed to
Soldier killed in Pak firing along LoC in J-K's Rajouri
Kashmir remains shut for 12th consecutive day
We would like to give little time: SC on plea seeking removal of restrictions on media in J-K
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