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Reserve Bank of India Collects Rs 5.44 Lakh Crore Old Notes after Demonetization

During this period, Rs 1,03,316 crore from their accounts either over the counter or through ATMs

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Reserve Bank of India, Wikimedia Commons
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Mumbai, November 21, 2016: Some 37 per cent of the Rs 14,50,000 crore worth of now-demonetised Rs 500 and Rs 1,000 currency notes that were in circulation have been exchanged or deposited with banks till November 18, the Reserve Bank of India (RBI) said on Monday.

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“Consequent to the announcement of withdrawal of legal tender status of bank notes of Rs 500 and Rs 1000 denominations from midnight of November 8, RBI made arrangements for exchange/deposit of such notes at counters of the RBI, commercial banks, regional rural banks and urban cooperative banks,” the central bank said in a statement.

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“Banks have since reported that such exchange/deposits effected from November 10 up to November 18, amounted to Rs 5,44,571 crore — exchange amounted to Rs 33,006 crore and deposits amounted to Rs 5,11,565 crore,” the statement added.

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“They have also reported that the public have withdrawn, during this period, Rs 1,03,316 crore from their accounts either over the counter or through ATMs.” (IANS)

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Aadhaar Helpline Mystery: French Security Expert Tweets of doing a Full Disclosure Tomorrow about Code of the Google SetUP Wizard App

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Google Along with Other SSocial Media Giants will Face The Lawmakers, Wikimedia Commons
Google Along with Other SSocial Media Giants will Face The Lawmakers, Wikimedia Commons

Google’s admission that it had in 2014 inadvertently coded the 112 distress number and the UIDAI helpline number into its setup wizard for Android devices triggered another controversy on Saturday as India’s telecom regulator had only recommended the use of 112 as an emergency number in April 2015.

After a large section of smartphone users in India saw a toll-free helpline number of UIDAI saved in their phone-books by default, Google issued a statement, saying its “internal review revealed that in 2014, the then UIDAI helpline number and the 112 distress helpline number were inadvertently coded into the SetUp wizard of the Android release given to OEMs for use in India and has remained there since”.

Aadhaar Helpline Number Mystery: French security expert tweets of doing a full disclosure tomorrow about Code of the Google SetUP Wizard App, Image: Wikimedia Commons.

However, the Telecom Regulatory Authority of India (TRAI) recommended only in April 2015 that the number 112 be adopted as the single emergency number for the country.

According to Google, “since the numbers get listed on a user’s contact list, these get  transferred accordingly to the contacts on any new device”.

Google was yet to comment on the new development.

Meanwhile, French security expert that goes by the name of Elliot Alderson and has been at the core of the entire Aadhaar controversy, tweeted on Saturday: “I just found something interesting. I will probably do full disclosure tomorrow”.

“I’m digging into the code of the @Google SetupWizard app and I found that”.

“As far as I can see this object is not used in the current code, so there is no implications. This is just a poor coding practice in term of security,” he further tweeted.

On Friday, both the Unique Identification Authority of India (UIDAI) as well as the telecom operators washed their hand of the issue.

While the telecom industry denied any role in the strange incident, the UIDAI said that he strange incident, the UIDAI said that some vested interests were trying to create “unwarranted confusion” in the public and clarified that it had not asked any manufacturer or telecom service provider to provide any such facility.

Twitter was abuzz with the new development after a huge uproar due to Telecom Regulatory Authority of India (TRAI) Chairman R.S. Sharma’s open Aadhaar challenge to critics and hackers.

Ethical hackers exposed at least 14 personal details of the TRAI Chairman, including mobile numbers, home address, date of birth, PAN number and voter ID among others. (IANS)

Also Read: Why India Is Still Nowhere Near Securing Its Citizens’ Data?