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No plans to introduce new denomination notes: RBI
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SME Times News Bureau | 27 Mar, 2017
The Reserve Bank of India currently has no plans of introducing new
denomination currencies, a senior RBI official said on Sunday.
"Presently
RBI has no idea to introduce currencies of new denominations. The
central banking institution wants to encourage cashless transactions,
which are helpful to the people", RBI Deputy Governor N.S. Vishwanathan
said while speaking at a lecture here on "Credit culture and the
financial system".
In this connection, Minister of State for
Finance Arjun Ram Meghwal had told Parliament on Friday that the
government is not planning to print Rs 5,000 and Rs 10,000 currency
notes. Referring to banks' non-performing assets (NPAs), or bad
loans, Vishwanathan said here that these are affecting the income and
profit of banks.
"Banks cannot escape from the responsibility of controlling NPAs in their balance sheets," he said.
Banks
are expected to base their lending decisions on a careful and prudent
assessment of the financial position and repaying capacity of the
borrower, while credit should be given to only the right people, he
added.
The magnitude of the problem can be guaged from the NPA
figures of state-run banks, which at the end of the current fiscal's
second quarter that ended in September, rose to Rs 6.3 lakh crore, as
compared to Rs 5.5 lakh crore at the end of the first quarter.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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