jjbizconsult · 2 years ago
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De La Rue Bottom Line Plunge - Leader in Banknote Printing
De La Rue Bottom Line Plunge – Leader in Banknote Printing. De La Rue, the UK-based company responsible for producing banknotes, has issued a warning that their expected profits will fall short due to an unprecedented decline in cash demand. The company, which has been in operation for over two centuries and designs a significant portion of banknotes worldwide, experienced a decline in shares of…
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SBI report : it may have held back or stopped printing Rs 2,000 notes
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High money notes of Rs 2,463 billion may have been printed by the RBI however not provided in the market, said the report composed by SBI's gathering boss monetary counselor.
The Reserve Bank of India (RBI) may either be keeping down Rs 2,000 notes or could have quit printing high division cash, says a SBI Research report.
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Comparing the information introduced in the Lok Sabha as of late with the one gave by RBI in its Annual Report prior, the SBI Ecoflash report said today, "we watch" that the estimation of little division cash available for use up to March 2017 was Rs 3,501 billion. This suggests the estimation of high category notes was identical to Rs 13,324 billion as on 8 December, in the wake of mesh out the little section notes from the money available for use on that day, it said. The report additionally said that according to the Ministry of Finance in the Lok Sabha as of late, the RBI has printed 16,957 million bits of Rs 500 notes and 3,654 million bits of Rs 2,000 notes as on 8 December. The aggregate estimation of such notes converts into Rs 15,787 billion. "This implies the leftover measure of high money notes (Rs 15,787 billion – Rs 13,324 billion) of Rs 2,463 billion may have been printed by the RBI however not provided in the market," said the report created Soumya Kanti Ghosh, bunch boss financial guide, SBI. Strikingly, the report included, "it is protected to accept" that Rs 2,463 billion might be on the lower side as the RBI more likely than not printed notes of little category in the interregnum (Rs 50 and Rs 200). "As an intelligent end product, as 2000 division cash prompted challenges in exchanges, it along these lines in fact appears that RBI may have either deliberately quit printing the 2000 section notes/or imprinting in littler numbers after at first it was imprinted in plentiful add up to standardize the liquidity circumstance," said Ecoflash. This likewise implies the offer of little cash notes in complete money available for use now may have touched 35 percent in esteem terms, it included. The legislature on 8 November a year ago had declared demonetisation of high esteem notes, Rs 500 and Rs 1,000, which together represented 86-87 percent of the money available for use. The move had prompted enormous money lack and expansive lines were seen at banks for trade or storing the rejected cash. The RBI presented another Rs 2,000 note and in addition new form of the Rs 500 note. In this way, the RBI, out of the blue, additionally presented a Rs 200 note. Read the full article
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