RBI outlook to Parliament panel: Governor Sanjay Malhotra says economy strong; Rs 2,000 notes still legal but out of circulation
According to panel Chairman and BJP MP Bhartruhari Mahtab, 'He gave us a wide range of information related to the economic situation and the financial system of our country. Members also had questions, and I believe most of them were quite convincing.'
During the meeting, several members sought clarity on the status of Rs 2,000 currency notes. In response, the RBI Governor stated that the notes are no longer in circulation but continue to remain legal tender, ANI reported.
The RBI has not declared them invalid yet, sources present at the meeting said.
The issue of counterfeit notes also came up. A member pointed out that around 1.12 lakh fake Rs 500 notes were seized recently, which is a very small proportion of the total six crore notes in circulation.
The governor acknowledged the concern and said that both the RBI and the government were 'fully committed to preventing such activities and are consistently taking measures' to curb the circulation of counterfeit currency.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Plastic Surgeon Reveals The 1 Thing Every Woman Should Be Using Instead Of Moisturiser
New Skin Discovery
Undo
The panel also discussed cryptocurrency regulations. While specific details of the RBI's response were not disclosed, multiple MPs reportedly raised questions on the matter.
The next meeting with the RBI Governor is likely to be scheduled for July 23 or 24 and will focus on the Insolvency and Bankruptcy Code (IBC), Mahtab added.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
16 minutes ago
- Indian Express
DyCM directs Mumbai Municipal Commissioner to not increase road restoration fee for Ganesh mandaps
Deputy Chief Minister Eknath Shinde has directed Mumbai Municipal Commissioner, Bhushan Gagrani, to not increase the road restoration fee which is to be charged to public Ganeshotsav mandals for digging concrete roads to erect Ganesh mandaps. As per the new regulations, a fee of Rs15,000 was to be charged for each road excavation for the erection of mandaps. However, the Brihanmumbai Public Ganeshotsav Coordination Committee had demanded the cancellation of this increased fee. Responding to this, Deputy CM Shinde instructed that no hike should be made in the penalty amount. Hence, as per the old rules, only Rs 2,000 will be charged per excavation. He further appealed to Ganesh mandals to avoid digging concrete roads and consider using modern technologies for mandap installation instead. The Deputy CM emphasized that with the widespread concretization of Mumbai's roads, innovative and non-destructive methods should be adopted. The decision was welcomed by the Chairman of the Brihanmumbai Public Ganeshotsav Coordination Committee, Advocate Naresh Dahibhavkar, who expressed public gratitude to Deputy CM Shinde.
India.com
19 minutes ago
- India.com
Patna Metro will not start from 15th August? New date is..., Full list of metro stations include...
Patna metro- File image Patna metro update: In a matter of good news for residents of Bihar, the first metro project of Bihar, the Patna Metro is now likely to be launched on August 23. Originally planned to be inaugurated on August 15, the operation of the Patna metro will begin only after mandatory safety checks are completed. Here are all the details you need to know about the Patna metro and which stations are expected to be operational in the first phase. As per media reports, Urban Development Minister Jiwesh Mishra confirmed that the preparations were initially aimed at the Independence Day launch, but August 23 is now being considered as an alternative. In the first phase of the metro, five stations are expected to be implemented: Patna metro: Which 5 Metro stations will be opened? New Patliputra Bus Terminal Zero Mile Bhootnath Khemnichak Malahi Pakadi However, readers should also note that during the initial phase, the metro will run only between New Patliputra Bus Terminal, Zero Mile and Bhootnath. Nitish Kumar asks officials to complete Metro project within deadline Patna Bihar Chief Minister Nitish Kumar recently conducted an on-site inspection of the Patna Metro Rail Project, reviewing progress at key stations including Malahi Pakadi and Bhootnath Metro Station. The Chief Minister issued necessary directions to officials and emphasised the timely completion of the project. Details on Patna Metro Project Using a site map, Singh informed the Chief Minister about the facilities planned at Malahi Pakadi Metro Station, including escalators, ticket counters, passenger amenities, public and paid areas, lifts, and access paths to the platform. He added that a total 6.20 km stretch—covering Malahi Pakadi, Khemnichak, Bhootnath Road, Zero Mile, and Pataliputra Bus Terminal—is being given top priority for early completion. What's the total investment on Patna Metro Rail Project? The Bihar government has allocated Rs 115.10 crore for the execution of this section, with a target to operationalise it by August 15, 2025. (With inputs from agencies)
New Indian Express
19 minutes ago
- New Indian Express
Trump tariff move unlikely to derail Tamil Nadu's industrial ambitions: Industries Minister Rajaa
CHENNAI: Tamil Nadu is prepared to absorb the impact of new US tariffs, State Industries Minister Dr TRB Rajaa said on Thursday, after US President Donald Trump announced a 25% duty on goods imported from India, escalating trade tensions between the two countries. Speaking on the sidelines of the second edition of Passenger Vehicle Expo, Rajaa said India's most industrialised state had already laid contingency plans to shield key sectors such as manufacturing, textiles, and footwear from sudden trade shocks. 'We've seen the Covid impact, we've seen global disruptions,' he said. 'If there's one state that's resilient enough to weather this, it's Tamil Nadu.' Rajaa said he was 'unhappy' with Trump's rhetoric. 'As an Indian, and as a representative of Tamil Nadu, I found the language disturbing. But we will stand by the Union government and hope the Prime Minister and his Cabinet respond with wisdom, balancing the interests of our farmers, the primary sector, and industry.' He also warned against overinterpreting the tariff move based on a single post. 'This is diplomacy in trade between two of the world's largest economies,' he said. 'It's unfortunate the US President chose such a platform for such a major announcement. But I trust Prime Minister Narendra Modi will respond in the appropriate format.'
