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Demonetization: Indian Government to re-introduce Rs 1000 Currency Notes with Advanced Security Features

new ₹1,000 notes will be re-introduced over the next few months with enhanced security features

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Customers line up outside a New Delhi bank to exchange outdated currency or make withdrawals. (A. Pasricha/VOA)

Imphal, Nov 26, 2016: Demonetization, which is causing such a major challenge to all the Indians both financially and medically has come up with a better solution this time with the announcement of new Rs. 1000 notes along with ‘enhanced’ features, says Economic secretary. It is definitely a partial relief, if not a permanent solution to all the problems.

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Secretary of Department of Economy Affairs, Shaktikanta Das on Thursday said new ₹1,000 notes will be re-introduced over the next few months with enhanced security features and in a different colour.

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Mentioning the new avtar of the scrapped thousand rupee note, Das also emphasised that the existing Rs. 100 and Rs. 50 will continue to be valid. However, the timeline of the re-introduction of the new note is not indicated.

The notes will be re-introduced in next few months. In addition to this, Economic Affairs Secretary also mentioned that all the denominations will be re-introduced in new design and features, mentioned ANI.

There has been enough chaos on streets regarding the currency swap move. Finance Minister Arun Jaitley also said that people depositing small amounts won’t face any harassment. However, those bringing large amounts are likely to face consequences.

According to HuffPost report, government also warned that a cash deposit of above Rs. 2.5 lakh threshold under the 50-day window could attract a tax plus 200% penalty if the cash deposited in bank accounts doesn’t match with income declared.

prepared by Saptaparni Goon of NewsGram. Twitter: @saptaparni_goon

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Government Prepares Comprehensive Plan For Revival of BSNL

It also noted that a Coordination Committee comprising senior officers of the DoT, BSNL management, and representatives of AUAB is already working in this regard

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BSNL is providing mobile services in Kashmir. Image Source: www.freejobsinfo.in

The government is making all efforts to make state-run BSNL robust and financially viable again and has prepared a comprehensive plan for its revival, an official said on Sunday, on the eve of a nationwide strike called by the employees unions over their demands.

BSNL employees and officers have given a three-day country-wide strike call from February 18 to highlight their long-pending issues, including allotment of 4G spectrum to the telecom major and wage revision for the workforce.

“All efforts are being made, and will continue to be made, to make BSNL robust and financially viable,” a Communications Ministry statement said.

“The main demands of the All India Unions and Associations of Bharat Sanchar Nigam (AUAB) include benefits to executives under the 3rd Pay Revision Committee (PRC) with 15 per cent fitment and to non-executives as per the 8th wage negotiations w.e.f. 1.1.2017, allotment of 4G spectrum to BSNL, revision of pension for BSNL retirees w.e.f. 1.1.2017 and delinking of same with pay revision for PRC implementation, and deduction of payment of pension contribution by BSNL on actual basic pay instead of on the highest level of the pay scale.

“Government wishes to re-emphasize that it will continue to engage with the BSNL management and representatives of the unions and associations, to support their reasonable demands, and to guide the organization towards a revival,” it said.

The SIM will now be available for employees of Patanjali only.
Comprehensive plan prepared for BSNL’s revival: Government.

Noting that the Department of Telecommunications (DOT) is taking “positive steps” regarding each of these demands, the ministry said the issue of alloting 4G spectrum to BSNL is being referred to telecom regulator TRAI “to recommend on the issue of administrative allocation, quantum, price and appropriate frequency band”.

“Further action will be taken on receipt of the said recommendation. In parallel, a comprehensive proposal for revival of BSNL has been prepared, which will be taken up for consideration by competent authorities very soon.”

It also noted that a Coordination Committee comprising senior officers of the DoT, BSNL management, and representatives of AUAB is already working in this regard.

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“Representatives of AUAB have also held meetings with the DOT Additional Secretary in which they have been duly apprised of the progress being made in relation to their demands,” the statement said.

It pointed out that the BSNL management has appealed to its employees not to resort to any agitation at this critical juncture when the organization is engaged in “sincere and serious efforts” to protect and enhance the company’s market share, “and when any disruption in services can only adversely impact the interests of BSNL and its customers, employees and other stakeholders.” (IANS)