Sunday, June 21, 2015

ONLY TEN DAYS LEFT TO EXCHANGE YOUR PRE-2005 CURRENCY NOTES

Courtesy : ET



Only 10 days are left to exchange pre-2005 currency notes, including those of Rs 500 and Rs 1,000 denominations, at banks as the deadline to do so is ending on June 30.

Seeking cooperation for withdrawing pre-2005 currency notes from circulation, the RBI has asked the public to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them.

The earlier deadline was January 1, but later the Reserve Bank of India had extended it till the end of this month. All pre-2005 notes continue to remain a legal tender. These notes can be exchanged for their full value at bank branches.

It is easy to identify pre-2005 notes. The currency notes issued before 2005 do not have the year of printing on the reverse side. In notes issued post 2005, the year of printing is visible at the bottom on the reverse.

The rationale behind the move to withdraw banknotes printed prior to 2005 is to remove them from the market because they have fewer security features compared with banknotes printed after 2005, RBI said.

It is standard international practice to withdraw old series notes.Post-2005 notes have added security features and help in curbing the menace of fake currency. Over 164 crore pre-2005 currency notes of various denominations, including of Rs 1,000 were shredded in regional offices of Reserve Bank in 13- month period ending January.

The face value of the shredded currency notes was around Rs 21,750 crore. As per the details given in Parliament in March, 86.87 crore pieces of Rs 100, 56.19 crore pieces of Rs 500 and 21.75 crore pieces of Rs 1,000 were shredded.

Only 10 days are left to exchange pre-2005 currency notes, including those of Rs 500 and Rs 1,000 denominations, at banks as the deadline to do so is ending on June 30.

Seeking cooperation for withdrawing pre-2005 currency notes from circulation, the RBI has asked the public to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them.

The earlier deadline was January 1, but later the Reserve Bank of India had extended it till t ..

Only 10 days are left to exchange pre-2005 currency notes, including those of Rs 500 and Rs 1,000 denominations, at banks as the deadline to do so is ending on June 30.

Seeking cooperation for withdrawing pre-2005 currency notes from circulation, the RBI has asked the public to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them.

The earlier deadline was January 1, but later the Reserve Bank of India had extended it till t ..

47 comments :

  1. Sir will any benefit to bilcare Ltd. If printing of new notes what is your view

    ReplyDelete
    Replies
    1. Not strictly tracking after the accounting related issue came to light which I explained earlier.

      Delete
  2. Dear VP Sir Can I have your considered opinion on Jenburkt Pharma at CMP

    ReplyDelete
    Replies
    1. It is a stock suggested @ Rs.85 . Nothing to suggest @ CMP Rs.380

      http://value-picks.blogspot.in/2010/10/jenburkt-pharmaceuticals-ltd-buy.html

      Delete
  3. Hi Wanted ur Views on Adlabs Entertainment at CMP and also on Newly Listed UFO moviez Thanks

    ReplyDelete
  4. Sirji plz give ur view on Insecticides India

    ReplyDelete
  5. Sir ur current view on your old recommendation

    ASAHI SONGWON COLORS LTD

    ReplyDelete
    Replies
    1. This stock is still 50 % higher from the suggested price . But it is not strictly comparable now due to de-merger of one division and allottment of that company's additional shares to the holders of this company.

      Delete
  6. VP Sir,
    Hope you are doing fine, as I check every day 10 times to see any comments, These days you have slowed down a lot. :)
    Please let me know latest status on below stocks, as I am planning new positions:
    IL&FS, Samkrg, Amines & Plasticizers, PatelsAirtemp, Polyplex, Persistent Systems.
    Reason, I see a correction and seems good for a long term.

    thanks
    Srinivas

    ReplyDelete
    Replies
    1. Yes , slowed down a lot . There is lot of restrictions to explicitly expressing opinion in a public forum after the new SEBI rules came into effect from June 1 . So keeping mum till I get a registration.:) .I always prefer to comply with rules and not to violate them.

      Delete
    2. Much Apprecaited..That again goes on to proove that you are not sharing the knowledge just for the heck of it!

      Please keep up the good work...Have seen much more meaningful ideas and suggestions with sound logics..

      God Bless you.

      Delete
    3. Eagerly waiting to hear back from you sir.... Sir is it good to enter in Infosys and United spirits limited for a long term holding, .

      Delete
  7. Dear vp sir what is your cureent view on adani power, fii increse their holding from from 7.43 to 19.36

    ReplyDelete
    Replies
    1. Company seems over aggressive on a leveraged balance sheet

      Delete
  8. Dear VP Sir , Good news to me & your followers that you are going for Sebi Registration till that time we will wait thats what you had teached (patience) one of your many principles in investing, Praying for long &Healthy Life to our Helping SOUL. Regards

    ReplyDelete
  9. kindly share your view on sintex, tourism finance sir. thank you

    ReplyDelete
    Replies
    1. Positive on Sintex for long term ,not tracking Tour.Fin.

      Delete
  10. VP Sir,

    Any idea till when you can get you registration done.
    Everyday i open the site to see various comments and your reply to the same.

    ReplyDelete
    Replies
    1. There is a provision for registration without passing the Exam , and later clear it within two years . But I prefer to register if and only if I can clear the exam first.But frankly speaking , I really wonder even after SEBI rule came to effect from June 1 , why a single business channel not disclosing the details of their analysts . Even if registration is not mandatory for appearing in channels as per new rules they should disclose certain points including registration status ,vested interest ..etc

      Delete
    2. Why are you looking to register, it is not required for blog writers sir.

      Delete
  11. Sir, can you share your view of Era infra management quality and future prospects of era infra which is loss making and trading near its yearly lows due to high debt and huge interest payout. Thanks and regards.

    ReplyDelete
    Replies
    1. Are you thinking a company with top quality management , profit making one without huge debt will come @ Rs.3.50 ? .It is the game of taking or not taking risk .

      Delete
  12. Sir, ur view on MRPL and mangalam drugs?

    ReplyDelete
  13. Vp sir, ur view on Cybertech systems and software ?, Cybertech Promoter Buying in the wake of imminent Smart Cities regulation.

    ReplyDelete
    Replies
    1. I am not strictly tracking this stock . Lot of companies using the tag 'Smary City' to propel their stock price .Let us wait and see who will benefit :)

      Delete
  14. Dear VP, Please share your view on HDIL

    ReplyDelete
  15. RBI extends deadline for exchanging pre-2005 notes to Dec 31

    ReplyDelete
  16. sir,
    your view on Gabriel India ?

    Thanks

    ReplyDelete
  17. Date further extended to Dec 31.

    http://economictimes.indiatimes.com/news/economy/policy/rbi-extends-deadline-for-exchanging-pre-2005-currency-notes-by-six-months/articleshow/47819246.cms

    ReplyDelete
  18. VP Sir,

    Please give your opinion on ABG Shipyard. Any impact with the stake sale. Will it help the investors?

    ReplyDelete
    Replies
    1. Depends on various factors , including the ability of buyer

      Delete
  19. Pre 2005 currency notes exchange is extended upto 31 Dec 2015

    ReplyDelete
  20. Please suggest on mic electronics at current level

    ReplyDelete
    Replies
    1. I don't know why people convinced only after 3 or 4 X times appreciation.

      Delete
  21. Sir ur view on richa ind and ucal fuel?

    ReplyDelete
  22. your views on Exide , Dynamatic technologies sir.. Thank u

    ReplyDelete
    Replies
    1. NOt tracking Exide

      Dynamatic is a unique company , can look in corrections.

      Delete
    2. Thanks you sir.... Your view is most valuable... 😊

      Delete
  23. Hello VP,
    Are KPIT Tech and Persistent gud buys after the recent beating? KPIT's correction seems overdone. For Persistent and I guess for the whole IT space next few Quarters can be difficult. Since these are well managed companies and facing issues crippling the whole sector, isn't it gud time to accumulate these, specially Persistent?
    Thanks,
    Tushar

    ReplyDelete
    Replies
    1. Not tracking KPIT

      Persistent is an already suggested stock .Adjusted to bonus still it is about 150 % higher from recommended price. One can still hold .

      Delete
  24. Sir, please share your views on Patel integrated logistics and CCD IPO?

    ReplyDelete
  25. Pl.kindly give your valueble advise regardig Hyderabad Industries Ltd (HIL)

    ReplyDelete

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