Money & Banking
RBI to issue Rs100 banknotes with inset letter 'G' soon

The design of these new notes to be issued is similar in all respects to the Rs100 banknotes in Mahatma Gandhi Series- 2005, issued earlier and both would remain in circulation

Mumbai: The Reserve Bank of India (RBI) said it will soon issue new banknotes of Rs100 denomination with inset letter 'G' in the Mahatma Gandhi series 2005, reports PTI.
"The Reserve Bank of India will shortly issue Rs100 denomination banknotes with inset letter 'G', in both the numbering panels, in the Mahatma Gandhi Series-2005, bearing the signature of D Subbarao, Governor, RBI, and the year of printing 2012 printed on the reverse of the banknote," RBI said in a notification today.
The design of these notes to be issued now is similar in all respects to the Rs100 banknotes in Mahatma Gandhi Series- 2005, issued earlier, it said.
"All the banknotes in the denomination of Rs100 issued by the Bank in the past will continue to be legal tender".



Dr Anantha K Ramdas

5 years ago

Thanks in advance for making this announcement; but what we are looking for is when do you propose to bring out polymer currency series?

this is more urgent to stop this countrefeit notes in circulation.

can't we learn from the Australian experience? They don't have porous borders, we do; besides we have unfriendly neighbours who can't stand our progress and well being

wake up RBI; somebody should be responsible to respond and say when they intend to come out with polymer notes of higher denomination like Rs 500 and 1000 which is where fake notes are literally shaking our economy and they will play really hell in the next elections.

Bank credit rises by Rs27,902 crore in fortnight ending 7th September

Reflecting increased off-take of credit across the board, bank credit rose to Rs47.5 lakh crore for the fortnight ending 7th September

Mumbai: Bank credit rose by Rs27,902 crore to Rs47.5 lakh crore in the fortnight ending 7th September reflecting an uptick in economic activity, reports PTI.
According to the data released by the Reserve Bank of India (RBI), credit provided by the scheduled banks rose to Rs47.5 lakh crore as on 7th September from Rs47.2 lakh crore at the end of 24th August 2012.
The data reflects increased off-take of credit across the board.
Credit growth grew 1.2% as of 7th September from the start of the financial year in April while deposits rose by 3.7%.
At the same time, the time and demand deposits of the scheduled banks rose to Rs76,532 crore at the end of 7th September from Rs759,37 crore at the end of 24th August.
The RBI has projected a growth of 16% in deposits and 17% in advances for this financial year.
Earlier this week, Reserve Bank cut CRR by 0.25% - the percentage of deposits banks keep with central bank - but refrained from reducing lending rates in view high inflation.
The RBI decision, which comes days after a slew of measures taken by the government to push growth, will release Rs17,000 crore of primary liquidity into the system.
The liquidity infusion, RBI had said, would ensure adequate flow of credit to productive sectors of the economy.
In a bid to revive investment across the board, Finance Minister P Chidambaram had asked banks to cut interest rates and keep EMIs at affordable levels to encourage sale of consumer durables.


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