Rupee Among The Best in Asian Currecies in 2015
Rupee turned out to be one of the best performers in 2015 among all Asian and BRICS currencies, excluding yen.
The currency’s depreciation of about five per cent against the dollar was less than the losses of most of its other Asian peers. The Indian rupee fared better in 2014, when it weakened by only two per cent.
Its Asian counterparts like the Indonesian rupiah weakened by 11.30 per cent and the Thai baht depreciated 9.5 per cent against the dollar. Only the Chinese currency fared marginally better, losing only 4.6 per cent.
RBI tells banks to replace defective 1000-rupee notes
Rupee turned out to be one of the best performers in 2015 among all Asian and BRICS currencies, excluding yen.
The currency’s depreciation of about five per cent against the dollar was less than the losses of most of its other Asian peers. The Indian rupee fared better in 2014, when it weakened by only two per cent.
Its Asian counterparts like the Indonesian rupiah weakened by 11.30 per cent and the Thai baht depreciated 9.5 per cent against the dollar. Only the Chinese currency fared marginally better, losing only 4.6 per cent.
Among the BRICS nations also the Indian currency fared well. The Brazilian real depreciated 49 per cent against the dollar while the South African rand declined 34.75 per cent.
The Indian currency, which tumbled 12.4 per cent in 2013, started recovering in 2014.
Among the BRICS nations also the Indian currency fared well. The Brazilian real depreciated 49 per cent against the dollar while the South African rand declined 34.75 per cent.
The Indian currency, which tumbled 12.4 per cent in 2013, started recovering in 2014.
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Out of 300 million defective banknotes that were printed in one of the printing presses of government-owned Security Printing and Minting Corporation of India, about 100 million of those notes have hit the market leaving the general public in a tizzy.
An RBI spokesperson has confirmed the development and said banks have been asked to replace such notes with the central bank, when found. Banks have also been advised to replace such notes whenever a customer approaches them. The notes are genuine though they are defective, the spokesperson said.
Printing Of Currency notes In India
There are four printing presses which print and supply banknotes. These are at Dewas in Madhya Pradesh, Nasik in Maharashtra, Mysore in Karnataka, and Salboni in West Bengal.
The presses in Devas and Nasik are owned by the Security Printing and Minting Corporation of India (SPMCIL), a wholly owned company of the Government of India. The printing of the notes in Karnataka and West Bengal are done by the Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), a wholly owned subsidiary of RBI.
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Revive NATGRID with safeguards
The Central government’s decision to revive NATGRID (National Intelligence Grid) is a welcome move in the fight against terrorism, but it calls for caution and nuanced planning in the way it would be structured
About NATGRID
The National Intelligence Grid (NATGRID), an attached office of the Ministry of Home Affairs, has been conceived to develop a cutting edge framework to enhance India’s counter-terror capabilities. In order to achieve this mandate, NATGRID is engaging the National Institute of Smart Government (NISG) to identify suitable talented individuals for engagement at NATGRID
NATGRID will become a secure centralised database to stream sensitive information from 21 sets of data sources such as banks, credit cards, visa, immigration and train and air travel details, as well as from various intelligence agencies. The database would be accessible to authorised persons from 11 agencies on a case-to-case basis, and only for professional investigations into suspected cases of terrorism. NATGRID was among the ambitious slew of intelligence reforms undertaken in the wake of the Mumbai attacks of November 2008
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