31
Sunday
May 2020
7:52 PM IST
News Headlines
As Lockdown-4 ends, home ministry issues guidelines for ''Unlock-1'' from June 8        COVID-19 tally in Kerala rises to 1,208, 7 Pilots and cabin crew, among 58 infected        Locusts in TN local grasshopper species, pose no threat, says govt        Delhi-Moscow AI flight returns midway after pilot found COVID-19 positive        People suffered most, faced unbearable hardships under Modi rule: Gehlot        Protests over George Floyd death overwhelm US authorities again        ''very saddened'' by what happened to the relationship with China: Trump        Federer tops world''s highest-earning athletes        Kerala reports 1 death, 62 new COVID cases, 10 recoveries, 577 patients under treatment: CM        France reports 52 new Coronavirus deaths        Death toll from COVID-19 in Brazil rises by 1,124 to 27,878 People        Death toll from COVID-19 in Brazil rises by 1,124 to 27,878 People        CA says "very high risk" of T20 WC being postponed, bracing up for losses        Sonia launches speak up campaign to help raise voice of poor        No fare either by train or bus shall be charged from any migrant worker:SC; Centre says 91 lakh migrants ferried by trains, buses        Saudi Arabia registers 1,644 new COVID-19 cases        Coronavirus deaths in US top 100,000; Trump sympathises with families of the victims        ICC defers fate of T20 World Cup till June 10 over confidentiality issue        'Preparations are ongoing for the event': ICC denies report of postponing T20 World Cup        Patanjali''s plea for Ayurvedic medicine trials raises eyebrows        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | Health   | About Deepika 
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The High Denomination Bank Notes (Demonetisation) Amendment Act, 1998 is one of 58 "redundant" laws repealed last week.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.


Patanjali''s plea for Ayurvedic medicine trials raises eyebrows
Reducing migrant worker population will impact Singapore economy: Industry groups
Extend loan automatically to all eligible borrowers without fear of 3Cs: FM to banks
Will try to restart international flights before August: Puri
RBI extends moratorium on loans for another 3 months till Aug
Sensex, Nifty turn choppy; RIL jumps on KKR deal
Rupee rises 13 paise to 75.67 against US dollar in early trade
Bajaj Auto shares jump 6.50 pc after Q4 earnings
Rupee rises 6 paise to 75.60 against US dollar in early trade
Decide corruption cases in time involving retiring bank, govt officials: CVC
Consumers footfall increase, average basket value goes up at retail stores in lockdown 3.0
Decentralisation of cities, devt of far-flung areas can help address migrant workers' woes: Gadkari
Find out novel ways for revival of economy, not the failed ideas: BMS
Reliance Industries' Rs 53,000-crore rights issue to kick off on May 20
Rupee falls 13 paise to 75.59 against US dollar in early trade
Investor wealth plunges Rs 1.99 lakh cr as mkts plummet
Kotak Mahindra Bank Q4 profit down 4 pc to Rs 1,952 cr
Jet Airways insolvency resolution professional seeks fresh EoI for defunct airline
Rupee falls 22 paise to 75.95 against US dollar in early trade
Maruti resumes operations at Manesar plant on single shift basis
KERALA NEWS
COVID-19 tally in Kerala rises to 1,208, 7 Pilots and cabin crew, among 58 infected
 Thiruvananthapuram: Kerala''s COVID-19 count rose to 1,208 on Saturday with 58 people including Air  
Vijayan slams Railways for scheduling trains to Kerala without informing state
Kerala records 6th COVID-19 death
Quarantine must for domestic air travellers: Kerala govt
INTERNATIONAL NEWS
Protests over George Floyd death overwhelm US authorities again
 Minneapolis: Fires burned unchecked and thousands protesting the police killing of George Floyd igno
''very saddened'' by what happened to the relationship with China: Trump
France reports 52 new Coronavirus deaths
Death toll from COVID-19 in Brazil rises by 1,124 to 27,878 People
NATIONAL NEWS
Locusts in TN local grasshopper species, pose no threat, says govt
 Chennai: As swarms of a locust species attacked banana, rubber and other crops in some districts of
Delhi-Moscow AI flight returns midway after pilot found COVID-19 positive
People suffered most, faced unbearable hardships under Modi rule: Gehlot
Sonia launches speak up campaign to help raise voice of poor
Untitled Page
Rashtra Deepika LTD
Copyright @ 2020 , Rashtra Deepika Ltd.