RBI- Reserve Bank Will Issue NEW 50 and 20 Notes Soon - FULL TEXT

According to a press note on RBI's website there will be new 50 and 20 notes, the old ones will remain in use and legal tender. The RBI- Reserve Bank Of India today announced that we will be able to see new Rs.50 and Rs.20 Notes. Post Demonetization by PM Narendra Modi, this was one big decision. People have been queing up since November- 8 announcement outside ATMs. The RBI announced via it's Twitter Handle today.

RBIs Twitter Handle Grab

Official Statement from RBI-

Issuance of ₹ 50 banknotes without inset letter, with numerals in ascending size in number panels, and without intaglio printing
Issue of ₹ 20 banknotes with 'R' inset letter, with numerals in ascending size in number panels and without intaglio printing.

The Reserve Bank of India will shortly issue ₹ 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number panels, bearing signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote. The design and security features of these banknotes will be similar to the banknotes of ₹ 50 denomination with the ascending font of numerals in both the number panels issued earlier in Mahatma Gandhi Series- 2005, except the following:

Obverse

Intaglio printing

New 50 Notes- SPICEMEN

The numeral ‘50’, RBI seal, Mahatma Gandhi’s portrait, RBI legend, Guarantee and promise clause, Governor’s signature, Ashoka Pillar emblem which were hitherto printed in intaglio (raised printing) are now being printed in offset (without any raised printing). Further, square-shaped identification mark on the left of the banknote has been removed.

Colour

While there is no change in the colour at the reverse, the colour at the obverse is lighter (due to removal of intaglio printing).

Latent Image

The vertical band on the right side of the Mahatma Gandhi’s portrait hitherto contained a latent image showing the denominational numeral ’50’. The latent image was visible only when the banknote was held horizontally at eye level. This feature is no longer present.

Reverse

There is no change in the reverse of the banknote.

NOTE-Trivia- The first  ₹50 banknote denomination was brought into force and use by the Reserve Bank of India (RBI) in year 1975 under the Lion Capital Series. It had an Ashoka pillar but was replaced by a watermark of Mahatma Gandhi in the Mahatma Gandhi Series, in year 1996. 

Rs.20- Twenty Note

The Reserve Bank of India will shortly issue ₹ 20 denomination banknotes in the Mahatma Gandhi Series-2005, with the inset letter ‘R’ in both the number panels, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote.

The design and security features of these banknotes to be issued now is similar to the ₹ 20 banknotes in Mahatma Gandhi Series- 2005 issued earlier, except the following –

Obverse

Ascending font

The numerals in both the number panels will be in ascending size from left to right while the first three alpha-numeric characters (prefix) will remain constant in size.

Intaglio printing

The numeral “20”, RBI seal, Mahatma Gandhi’s portrait, RBI legend, Guarantee and promise clause, Governor’s signature, Ashoka Pillar emblem which were hitherto printed in intaglio (raised printing) are now being printed in offset (without any raised printing). Further, rectangular identification mark on the left of the banknote has been removed.

Colour

While there is no change in the colour at the reverse, the colour at the obverse is lighter (due to removal of intaglio printing).

Latent Image

The vertical band on the right side of the Mahatma Gandhi’s portrait hitherto contained a latent image showing the denominational numeral “20”.The latent image was visible only when the banknote was held horizontally at eye level. This feature is no longer present.

Reverse

There is no change in the reverse of the banknote.

The image of the specimen of the banknote is as follows-

NOTE- Trivia- The first Rs.20 was introduced in 1972 by the Reserve Bank of India to contain the cost of production of banknotes in circulation.With the introduction of this banknote, the Reserve Bank started a major redesign of the motif of the Lion Capital Series banknotes.

Enroll Your Business On GST Website - One Nation One TAX- Slogan by Modi

The concept of One Nation and One TAX is certainly one of the biggest tax reform, we have seen in recent decades, perhaps after the independence. Our Prime Minister, Mr. Narendra Modi, had announced the demonetization of old Rs. 500 and Rs. 100 bank note denominations on November 8th (last week) and before that, in our previous session, a common consensus on GST was unanimously passed in the Indian parliament. Now people can enroll their business on the official GST government website- https://www.gst.gov.in/ starting now to avoid last minute rush. 

According to the PMO official website, Modi said that in the last session, a major decision on #GST was taken and the parliament did made a major contribution towards realization of the dream of "One nation, One tax.". He added by saying that when all parties work together in the larger nation interest, positive outcomes and results emerge. The press note adds, "The consultation process has been going on ahead of this session as well. Government is ready for open debate on every issue and we hope that it will create a conducive atmosphere for significant and fruitful decisions."

The entire draft of the GST law is available here at the Finance Ministry website. According to Ernst and Young, the GST will become a potential game changer.The site says "GST will be a game changing reform for the Indian economy by creating a common Indian market and reducing the cascading effect of tax on the cost of goods and services. It will impact the tax structure, tax incidence, tax computation, tax payment, compliance, credit utilization and reporting, leading to a complete overhaul of the current indirect tax system.

GST will have a far-reaching impact on almost all the aspects of the business operations in the country, for instance, pricing of products and services, supply chain optimization, IT, accounting, and tax compliance systems." 

As per WikipediA

The tax system is very complex in India and pretty archaic and in need of a complete overhaul. According to the Wikipedia  

Women Should Never Underestimate Their Potential and Ability-Sheryl Sandberg, Facebook,COO

Women Across the World should break stereotypes and demand fair & equal treatment. They also need to strive for a balance actualize potential, says Facebook COO Sheryl Sandberg in New Delhi

NEW DELHI, July 2, 2014. Ms. Sheryl Sandberg, In her second innings as the Chief Operating Officer (COO) of Facebook, today underscored the importance of women in the Indian economy. She said that it was imperative (of recognizing women) for any economy to grow and prosper. Adding the essentiality for  women to realize their full potential. Addressing an interactive session of FICCI Ladies Organisation (FLO) on 'Lean in: Women, Work and Will to Lead', Ms. Sandberg said this could be achieved by ensuring equal and fair treatment of women at home and the workplace and attaining more balance at home.

Women, she emphasized, should never underestimate their potential and ability. They should enforce their will and must develop a sense of confidence in themselves.

Speaking about breaking stereotypes, Ms. Sandberg said that across the globe it was perceived that men are natural leaders and women were there only to help and assist them. Women who are at the helm of their affairs are either considered officious or too aggressive in their approach. This mindset needs to change and a woman should be respected and recognized for her ability.

On the issue of ensuring security and stability for women, Ms. Sandberg said that it was heartening to see that the new Indian government under the leadership of Prime Minister, Mr. Narendra Modi, was standing up to zero tolerance for crime. She urged the citizens to come forward and support their leader in this endeavor. None of the countries across the globe are absolutely safe for women. For women to thrive, it was necessary to provide a safe and secure environment, she added.

Ms. Sandberg said that all over the world, women have the added responsibility of managing the household. She suggested that men should start sharing responsibilities at home and work together with their spouses to ease the work pressure on women.

She said that women should have greater access to technology to make them more aware and technologically advanced. Women should be provided with a flexible work environment. The government and policymakers should enforce laws more stringently to safeguard the interests of women and give equal opportunity to them in terms of education and remuneration.

Ms. Neeta Boochra, President of FLO and Ms. Archana Goradia, Senior Vice President, FICCI, also shared their views on the subject.

Inputs from the Official FICCI Media Division, New Delhi