Reserve Bank to Issue New 10- Rupee Notes

The Reserve Bank of India is reportedly on its way to issue Rs. 10 notes with enhanced security features quite soon.

The banknotes in the Mahatma Gandhi series-2005 are to carry inset letter ‘L’ on both number panels, bearing the signature of Governor Urjit Patel.

The year of printing, 2017, will be on the reverse of the note.

Among other features, numerals on both the panels will be in ascending size from left to right. The first three alpha-numeric characters (prefix) will remain constant in size.

“All the banknotes in the denomination of Rs 10 issued by the bank in the past will continue to be legal tender,” the central bank said in a notification.

Report by PTI

Manmohan Singh Hits Out At Note- Ban Yet Again

Former prime minister Manmohan Singh on Wednesday has pointed out at how India’s economy has gone from bad to worse following the government’s demonetisation move, before further stating that the worst is yet to come. 

Addressing members in a Congress party convention in Delhi, Singh – who also happens to be a noted economist – countered Prime Minister Narendra Modi by quoting that the latter's claims of a robust economy are “hollow”.

“The demonetisation move was disastrous. It hurt the country but the worst is yet to come,” he predicted before the Congress workers who had gathered at the Jan Vedna Sammelan.

It is to be noted that Manmohan Singh is credited as the man responsible for implementing reforms and transforming India’s economy as finance minister in the early 90s, and had, in November, foretold that demonetisation will shave two percentage points off India’s GDP.

Reiterating the claim, he said that almost all rating agencies had pared down growth estimates from 7.6% to 7% and as low as 6.3%.

“As a consequence, employment in fall in agriculture and informal sector, which contributes 45% to the national income,” Singh said.