The Telangana Police were conducting vehicle checks when they intercepted a vehicles with Rs 30 lakh worth of counterfeit currency and three accused. On further investigation, police arrested three more accused and seized printing equipments.
The one-rupee coin is minted by the Indian Government Mint (IGM) at Mumbai and Hyderabad. The RBI in its currency presses manufacture from Rs 2 to Rs 2,000.
Despite the potential for intervention, analysts remain doubtful about its effectiveness. Tapas Strickland from the National Australia Bank highlighted that macroeconomic fundamentals do not currently support a significant shift towards a hawkish monetary stance.
RBI business news: Public and entities holding such notes were initially asked to either exchange or deposit them in bank accounts by Sept 30, 2023. The deadline was later extended to Oct 7, 2023. Deposit and exchange services at bank branches were discontinued on Oct 7.
The rupee started on a weak note at 83.08, declining further to 83.10 against the dollar, eventually settling at 83.05, ending its seven-day winning streak.
Both Jaishankar and Lavrov are expected to discuss a wide range of issues including bilateral, trade, currency, the Middle East conflict, the Ukraine crisis and other global issues.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
The government's external debt, which was 374,484 crore in 2013–14, will increase by 100% to 7,48,895 crore in 2022–23.
The BRICS nations underlined the need for using local currencies in international trade and financial transactions.
The Pakistani rupee's value has devalued by Rs 34 since Thursday in the interbank, the largest depreciation in both absolute and percentage terms since the new exchange rate system was introduced in 1999.
Currency & Politics: As the MCD election is approaching, BJP intensified its attack on AAP as the ruling party in Delhi is looking to wrest power from the saffron party in the municipal corporation body.
Currency note politics: While the Bharatiya Janta Party criticised Kejriwal for playing the "Hindu card" ahead of the upcoming assembly elections in Himachal Pradesh and Gujarat, a few other political leaders have also jumped into this saga, suggesting their choices for the new series of notes.
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Queen Elizabeth II's portrait also has been issued on several other currencies around the world, as a reminder of the British empire’s colonial reach. It will take time for the United Kingdom, Canada, Australia, New Zealand, and other countries to swap out the monarchs on their money.
The coins of Re 1, Rs 2, 5, 10 and 20 denominations will have the Azadi Ka Amrit Mahotsav (AKAM) design are not commemorative coins and will be part of the circulation.
Officials of Sara-i-Shahzada, the largest money changers market in Afghanistan, were quoted by the government-run Bakhtar News Agency as saying that the value of $1 has dropped from 130 afghani to 102 afghani following a joint meeting of government officials and money changers with Da Afghanistan Bank (DAB), the country's central bank on Wednesday, Xinhua reported.
The announcement came amid the growing use of foreign currencies in some Afghan provinces, including US dollar, Iran's rial and Pakistani rupee.
The report said that Tareen made the statements after International Monetary Fund and World Bank suspended payments to Afghanistan.
A 23-year-old student, K. Goutam Kumar, has developed a UV-E SAFE kit that helps in sanitising money, documents, files, and other belongings within a minute.
The CISF seized Rs 45 lakh worth of foreign currency hidden in cooked meat pieces, peanuts and biscuit packets from a passenger at the Delhi airport.
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