Consumer Issues
New Rs.100 notes to carry ascending numbers
The Reserve Bank Of India (RBI) has recently issued new Rs.100 currency notes in the Mahatma Gandhi Series-2005 with a new numbering pattern, an official statement said.
 
The numerals, henceforth, in both the number panels of these new currency notes will be in ascending size from left to right. However, the prefix, the first three alphanumeric characters will remain constant in size, the RBI said.
 
This is a new visible security feature in the bank notes to enable public identify and distinguish it from a counterfeit one.
 
Barring this new design of the numbering pattern, the bank note is similar to the Rs.100 note in the existing Mahatma Gandhi Series-005.
 
It bears the signature of current RBI Governor Raghuram Rajan, showing the year of printing 2015 on the reverse, and the new numbering pattern will be introduced in a phased manner in all other denominations.

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COMMENTS

Shirish Sadanand Shanbhag

2 years ago

Ascending size of numbering is only for Rs.100 notes, why not for Rs.500 and Rs1,000 notes?

Since Government says this feature in Rs.100 note is brought in, for additional security reasons, then, such additional security reason is not needed for higher denomination notes?

Bijoy Varghese

2 years ago

So the counterfeiters don't know how to print ascending size numbers on the notes? is that the logic? Only option is to start printing notes in india and not to outsource. then comes other plans. also why not plastic notes yet? whats stopping RBI from issuing plastic currencies like in other countries?

AJOY KUMAR SARAF

2 years ago

New security feature is welcome but RBI should create awareness before its circulation otherwise small town traders and vendors will not accept it and will say it is fake.
even some people / petty shopkeepers are refusing to accept note prior to 2005

Over 8 percent of Indian households have disabled persons
Over eight percent, or 207.8 lakh, of the total households in the country have disabled persons, reveals data on disabled population in India released here on Tuesday.
 
According to the data, of the total households that have disabled people, about 99 percent are normal households, 0.4 percent are institutional, and 0.2 percent are households of people who do not have their own houses. 
 
"The data gives the number of households having disabled persons by type of households, including normal (99 percent), institutional (0.4 percent) and houseless households (0.2 percent)," the office of the Registrar General and Census Commissioner of India said. 
 
The disabled persons are further cross-classified into eight disabilities - seeing, hearing, speech, movement, mental retardation, mental illness, any other and multiple disability.
 
Total households having disabled persons show an increase of 20.5 lakh, from 187.3 lakh in 2001 to 207.8 lakh in 2011 - 6.2 lakh in rural and 14.3 lakh in urban areas. Normal households with the disabled persons increased by 20,24,495, institutional households by 8,370 and houseless by 13,560 during the decade 2001-11.
 
Disabled persons living in normal households increased by 48,19,382, institutional households by 65,895 and houseless households by 22,948 during the said decade, the release said.

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SEBI to focus on cost incurred by mutual fund investor
India's market regulator on Tuesday said it will focus on the cost to a mutual fund investor as part of its customer protection measures.
 
Speaking at the CII Mutual Fund Summit here, Securities and Exchange Board of India chairman U.K.Sinha said consumer protection is one of the prime focus areas of SEBI and cost to investor will be an important aspect of the future course of action.
 
The finance ministry has also set-up a Financial Stability Development Council to take into account the cost structures, he said at the event organised by the Confederation of Indian Industry (CII).
 
Sinha said that the mutual fund industry has helped in countering the volatility caused by the investments pattern of foreign portfolio investors and brought macroeconomic stability to Indian markets.
 
He further stated that the government's decision of allowing the Employees Provident Fund (EPFO) to invest in mutual fund schemes is a great achievement.
 
Sinha also urged the industry to think of medium to long-term measures for its sustainable growth, and also now focus on how equitably they are serving the requirements of the customers.
 
In the last three years, measures like reduction in transaction charges, introduction of consolidated account statements, availability of mutual fund units in demat form, fungibility of total expense ratio, encouraging voting by asset managers to protect interest of minority share holders, addition disclosure of distributors, tax clarity on offshore funds, recent announcement in the budget over tax clarity for scheme mergers and many more were implemented, he said.
 

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COMMENTS

Nilesh KAMERKAR

2 years ago

1. Was it wise to have bought whatever FIIs sold? - Or

2. Whether FIIs exploited the liquidity created by money flowing into MFs to book some profits? &

3. FII own approx 25% of Indian equities. If they were to offload meaningful amount of equities - how much of it can MFs really absorb?

To say MFs have brought macroeconomic stability is . . . Dil ko behlane ke liye khayal achha hai

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