"As long as the public wants to have bank notes, we will provide them with bank notes," he said.
|
|
Others are counting stack after stack of worthless bank notes.
|
|
OopsAustralia released innovative, next-gen $50 bank notes with added security.
|
|
Mr. Maduro has no working mint, and must import bank notes.
|
|
Chinese bank notes, Mr. Tomasko said, generally did not feature faces.
|
|
Those sanctions include precious metals, U.S. bank notes, steel and coal.
|
|
There's really nothing more frustrating than getting bank notes covered in ink.
|
|
One is that digital currencies will be counterfeited like bank notes were.
|
|
LONDON — Britain's new bank notes are harder to forge than their predecessors.
|
|
It once appeared on Congolese bank notes, a symbol of industrial vitality.
|
|
Bank notes, and the portraits on them, have not changed significantly since 1929.
|
|
Still, governments are ramping up spending on infrastructure, the African Development Bank notes.
|
|
The eurozone has skirted this problem by putting bridges on its bank notes.
|
|
Only this train wasn't carrying passengers, or bank notes, or stolen Nazi gold.
|
|
The sudden and chaotic "demonetisation" of 86% of bank notes in November hardly helped.
|
|
The banks had been flooded with deposits after the government banned larger bank notes.
|
|
As the World Bank notes, India's agricultural industry is central to the country's economy.
|
|
The protests come amid a severe shortage of bank notes that began in March.
|
|
It is not, as Andrew Colgan of Mizuho, a bank, notes, "a screen-based market".
|
|
She appears on bank notes in at least 19 different countries spanning across the globe.
|
|
The bank notes that apparent copper consumption actually fell by 2% over the first quarter.
|
|
There's more than meets the eye in new bank notes circulating in Europe starting today.
|
|
The banning of high-value bank notes, as India did last year, is nothing new.
|
|
New Swedish bank notes show the actress Greta Garbo and the Wagnerian soprano Birgit Nilsson.
|
|
Withdrawing high-value bank notes from circulation, as India did last year, is nothing new.
|
|
She noted that countries around the world have women gracing the fronts of their bank notes.
|
|
Britain's polymer bank notes typically contain less than 0.05 percent of animal products, the BoE said.
|
|
So turning to cryptocurrencies could be a smart move when your bank notes aren't worth anything.
|
|
Wang Tao of UBS, a Swiss bank, notes that these efforts have given investors more confidence.
|
|
Elizabeth II, who turned 23 years old today, is on an insane number of bank notes.
|
|
If you look at bank notes across the world, you most often see portraits of men.
|
|
Current bank notes will remain legal tender and the new ones are the same sizes and colors.
|
|
Polymer bank notes have become increasingly common around the world, with countries like Australia being early adopters.
|
|
More than half of that went to investors swapping short-term central bank notes known as Lebacs.
|
|
Russia has printed millions of dollars' worth of Libyan bank notes and shipped them to Mr. Hifter.
|
|
Her image appears on Syrian bank notes, and she was the subject of a recent soap opera.
|
|
An earlier version of this briefing incorrectly identified one of the two bank notes devalued in India.
|
|
There's more than meets the eye in the new bank notes circulating in Europe as of today.
|
|
The well-organized exhibits trace the history of money in India from stones to paper bank notes.
|
|
The successor states marked old Austro-Hungarian bank notes with a national stamp to control their circulation.
|
|
Finally, on Sunday, Mr. Maduro said the new bank notes would be phased in beginning on Monday.
|
|
Best known for creating his own hand-drawn bank notes Anthony Cronin (20163–22016), poet and writer.
|
|
Soaring food prices, a shortage of bank notes and long lines for fuel have frustrated many Sudanese.
|
|
Now that the demonetised bank notes are worthless, the government is intent on in effect appropriating the proceeds.
|
|
The SNB had the obligation to supply Switzerland with bank notes as part of its mandate, Jordan said.
|
|
It sets the benchmark interest rate for all eurozone member states and issues bank notes in the eurozone.
|
|
Food prices were soaring and bank notes were in such short supply that cash machines were usually empty.
|
|
BARZAN, Iraq — A pair of rusted eyeglasses, a grimy antique watch, torn bank notes and old identification cards.
|
|
Digital payments in India have surged after a shock government ban on high-value bank notes last November.
|
|
The bank notes that its revenue came in at record levels, and also cites a strong return on assets.
|
|
But there is no infrastructure to handle the large number of bank notes needed for transactions during vanilla season.
|
|
People don't want to touch their bank notes and all that after you buy the fresh fish and meat.
|
|
Indian currency is widely used by businesses and individuals who keep their savings at homes in Indian bank notes.
|
|
Unlike some other central banks, the BoE does not automatically keep profits from issuing bank notes or other operations.
|
|
E-payments have surged in India since a shock ban of high-value bank notes in November last year.
|
|
Digital payment systems have ballooned in popularity in India since the government scrapped large-value bank notes in 20153.
|
|
" He suggests that the Bank of England's new 21984 pound bank notes printed with her likeness are an "indignity.
|
|
A dip of 25% in crude prices now could send the country into a recession, the World Bank notes.
|
|
For a man who values his money, why not give him something elegant to hold his precious bank notes?
|
|
Overnight, two of the biggest bank notes in the country became "worthless pieces of paper," as Modi put it.
|
|
The central bank plans to circulate special local bank notes or "bond notes", equivalent to U.S. dollars in value.
|
|
Digital payment systems have ballooned in popularity in India since the government scrapped large-value bank notes in 2016.
|
|
Florian Hense, an economist with Berenberg bank, notes the euro zone has now had 17 consecutive quarters of growth.
|
|
All the same, Martin Deboo, of Jefferies International, a bank, notes that Danone has a mixed reputation among European investors.
|
|
The industry enjoyed a huge boost from the federal government's move to demonetize old high-value bank notes last year.
|
|
The first set of sanctions banning transactions involving dollar bank notes, gold and other commodities went into effect in August.
|
|
"The Palestinians can't want to lose their governing authority in the West Bank," notes veteran Middle East negotiator Dennis Ross.
|
|
Ceebu jen, a hearty fish stew, is the national dish, and sawfish — once plentiful but now rare — grace bank notes.
|
|
The audience broke into applause as the ATM displayed the word "JACKPOT" and ejected a steady stream of bank notes.
|
|
To celebrate, everyone whacked at a piñata that spilled out fake bank notes emblazoned with images of Lloyd and other executives.
|
|
But the recent shortages of the new 2000 rupee bank notes has left analysts wondering if mattresses are being re-stuffed.
|
|
And in March, he announced that a woman will be featured on Canada's next set of bank notes, beginning in 2018.
|
|
They are also calling for Mugabe to fire corrupt ministers, scrap plans to introduce local bank notes and end cash shortages.
|
|
No longer: Morgan Stanley, a bank, notes that diesel passenger cars took less than 3.43% of sales in Germany in June.
|
|
The remainder of the debt will be covered in cash and in central bank notes, known by the Spanish acronym TBC.
|
|
Circulation of Swiss bank notes has already risen due to "the persistently low level of interest rates," the SNB has said.
|
|
"It would be significantly more expensive for banks and savings banks to store lots of smaller bank notes, " Mr. Fuest said.
|
|
A government decision to retire old bank notes at the end of 2016 has made it riskier to hoard illicit cash.
|
|
In Kairana, all 35 farmers Reuters spoke to agreed that abolishing 500 and 1,000 rupee bank notes had made things worse.
|
|
Many also displayed framed photographs of the king; some, lacking photos, held up Thai bank notes with his picture on them.
|
|
Newspaper articles in the late 1850s began warning of the danger of counterfeit bank notes that had been made using photography.
|
|
In 2016, he announced that a Canadian woman would be the face of the country's newest bank notes, expected in 2018.
|
|
The streaming service announced Monday that it plans to take on $2 billion in new debt by offering unsecured bank notes.
|
|
The largest of those bank notes, equivalent to about US$8, is more than the minimum wage of 40,000 bolivars per month.
|
|
India's reform program to remove 500 and 1,000 rupee bank notes from the financial system, also known as demonetization, ended on Friday.
|
|
Deutsche Bank notes that systematic funds that use momentum, volatility, technical and quantitative factors have only partially rebuilt their exposure to equities.
|
|
Meanwhile, bank ATMs were closed and banks prepared for a flood of people seeking to exchange larger bank notes for smaller ones.
|
|
Below each of those buttons, it shows the number of bank notes within each given cassette, as well as the total values.
|
|
Zachary Crockett / Vox Australia leads the way for gender equality on currency: Women are featured on four of its five bank notes.
|
|
His multinational rivals barely grew at all over the same period, as a shock move to scrap bank notes disrupted everyday life.
|
|
It has grown exponentially since Prime Minister Narendra Modi shocked India last November with an edict declaring all large bank notes invalid.
|
|
He said that by making people turn in old bank notes, he would capture billions of rupees of so-called black money.
|
|
The 2016 report for the World Bank notes that the poorest cannot access the program because they struggle to afford the deposit.
|
|
Unlike in 2008-09, when Zimbabwe printed bank notes with ever more zeroes on them, this time the government used a keyboard.
|
|
To pocket all the rewards, governments need to prepare for the day when crumpled bank notes change hands for the last time.■
|
|
India's PMI index was at its highest since India's Prime Minister Mody's announcement to abolish its bank notes in November last year.
|
|
Last year, the government announced plans to demonetize large denomination bank notes in an effort to crack down on tax evasion and counterfeits.
|
|
Describing Modi as "fearless", Chambers praised his decision last year to scrap high-value bank notes to cleanse the economy of illicit wealth.
|
|
Indian banks have so far received nearly 12 trillion rupees in discounted currency since the government decided to abolish high value bank notes.
|
|
Relics of Zimbabwe's economic collapse line Harare's streets -- tattered bank notes, vendors selling junk, gate after gate of abandoned factories locked and shut.
|
|
The country is also reportedly tightening its processes for incinerating bank notes that might be infected or otherwise dirty as the outbreak spreads.
|
|
Images of unidentified women, usually allegorical or generic, have appeared on the reverse sides of Canadian bank notes on and off since 1935.
|
|
In a final report released Thursday, Kroll said it found no evidence the bank notes went missing, as local media had reported earlier.
|
|
CARACAS, Venezuela — Venezuela's government began to issue new bank notes on Monday to replace the 100-bolívar bill, made virtually worthless by hyperinflation.
|
|
In the era when bank notes were redeemable in gold, most people believed that money had the intrinsic value of the precious metal.
|
|
Saif Malik of Standard Chartered, a bank, notes that in Malaysia, Islamic banks are competitive enough to appeal widely to non-Muslims as well.
|
|
The new guidelines also require customers to complete all transaction by December 30 as no more bank notes can be deposited after that date.
|
|
In December, Venezuela announced that it expects to print six new bank notes, worth between 500 and 20,000 bolivars, to ease the cash crisis.
|
|
Investors will look for whether the U.S. central bank notes softening inflation, or comments on market pricing on the path of future rate moves.
|
|
In August, the Eighth Circuit Court of Appeals rejected a challenge to the slogan on coins and bank notes from a group of atheists.
|
|
As UBS, a bank, notes, American lorries can take 40 tonnes laden weight and typically 22.5 tonnes of that is given over to cargo.
|
|
There is no ceiling on deposit of the Specified Bank Notes of Rs.1000 and Rs.500 in the customer's account with the Bank.
|
|
Turtles are considered to bring longevity in Chinese culture, and it is common to throw coins or bank notes at them for good luck.
|
|
"In the wake of deposits of specified bank notes in massive quantity and accumulations thereof, the above instructions have been revisited," the RBI said.
|
|
Relics of Zimbabwe's notorious economic collapse line Harare's streets-- tattered bank notes, vendors selling junk, gate after gate of abandoned factories locked and shut.
|
|
That would undercut the justification for banning the bank notes: that tens of millions of dollars' worth used illegally in graft would be missing.
|
|
Uncertainty surrounding the impact of the government's last week move to withdraw higher-denomination bank notes and slow replenishment in new bills, also prevailed.
|
|
Central banks around the world are weighing how the rise of non-cash payments affects their conventional role printing bank notes and managing money supply.
|
|
Analysts said this reflected the fading impact of the government's move to scrap high-value bank notes that disrupted supply chains and caused job losses.
|
|
Residents have money in their bank accounts, as most work for the state, but not necessarily cash as there is a shortage of bank notes.
|
|
Deutsche Bank notes that from October through early March, investors pulled $100 billion from U.S. equity funds, indicating caution after the steep late-2018 drop.
|
|
It issues its own bank notes; flies a flag with a distinctive, three-legged symbol; and takes pride in its world-famous TT motorbike races.
|
|
From mid-year, the Central Bank will start circulating 200 peso and 500 peso bank notes, and next year will introduce the 1,000 peso note.
|
|
At one bank, notes Mr Lindley, an adviser's bonus for selling a loan with PPI was six times as much as for one without it.
|
|
Hlaing danced for the spirits, before blessing thick wads of bank notes worth roughly 40 cents each and tossing them into the frenzied, sweating crowd.
|
|
The euro was introduced in 12 countries as coins and bank notes on January 1 2002, replacing what were in some cases centuries-old currencies.
|
|
Wherever he went, Mr. Boggs found that his handcrafted bank notes, executed with a fine pen on expensive paper, were, so to speak, legal tender.
|
|
In India, which accounts for about 10 percent of Pernod Ricard group revenue, a government ban on high-value bank notes held back local consumption.
|
|
The Syrian opposition has been pressing Western countries to expand sanctions to include some Russian firms that are supplying weapons and bank notes to Syria.
|
|
LONDON (Reuters) - Britain's new plastic bank notes will continue to be made with traces of animal fat despite thousands of complaints from vegetarians and religious groups.
|
|
The central bank said there was enough cash available with banks and that it had made arrangements to deliver the new bank notes across the country.
|
|
The penis vase is embossed with images of bank notes, while the second artwork, is half bull, half bear — the two animals associated with financial markets.
|
|
There is no need for any panic as Specified Bank Notes can be deposited in the account without ceiling upto 30th December, 2016 with the Bank.
|
|
Yet Modi's masterful political spin last year, when he cancelled most of the country's bank notes by value, suggests he wanted to accelerate economic reforms domestically.
|
|
Canada's Prime Minister, Justin Trudeau, announced today (International Women's Day) that a Canadian woman will be on the next series of bank notes starting in 2018.
|
|
Tip "No one wants soiled or limp bank notes," says Peter Balke, a senior policy adviser for De Nederlandsche Bank, the central bank of the Netherlands.
|
|
Buried in debt and forced, in 1921, to pay reparations to the victorious Allies, Germany printed bank notes and ignited the most infamous bout of hyperinflation.
|
|
Cover: 10 May 2019, Bavaria, Garmisch-Partenkirchen: Bank notes and receipts for cash deposits and cash withdrawals are available at the counter of a bank branch.
|
|
There was a notable moment of reflection on his uneasy tenure at the bank, notes the NYT's Amie Tsang, who was listening in on the call.
|
|
Today he is the rare collector who focuses on tracking down the original artwork behind the engravings on bank notes, stock certificates and other financial documents.
|
|
The sudden "demonetisation" of large bank notes in November hurt online sales (around two-thirds of Indian buyers of goods online are paid with cash upon delivery).
|
|
The prime minister, Narendra Modi, has pledged to clean up the system, for example by recently scrapping large-denomination bank notes, which he thinks contribute to corruption.
|
|
Yet as the World Bank notes in a new report, faltering growth rates mean the gap between the rich and the rest is closing ever more slowly.
|
|
Hundreds of people marched on the streets of Harare on Wednesday against government plans to introduce local bank notes, as authorities grapple with a serious dollar crunch.
|
|
Outside of OPEC, there is little growth in oil supplies, with the exception of the United States, where drillers can quickly tap shale wells, the bank notes.
|
|
Already built into Photoshop are image recognition tools that prevent scans or photos of certain bank notes from being opened at all, although it's far from foolproof.
|
|
Chinese banks were previously required to only release bank notes that had been sterilized and to store potentially infected cash for one to two weeks, per CNBC.
|
|
By 2018 Sudan's economy was in free-fall, with an inflation rate of 72 percent, long lines at fuel stations and even a shortage of bank notes.
|
|
In an election year, it's also a good reason to keep an eye on talk about increased regulation, which the investment bank notes could drive shares lower.
|
|
Patrick Palfrey of Credit Suisse, one more investment bank, notes that the list of top ten contributors to the second quarter's profit crunch includes representatives of Big Tech.
|
|
According to the new set of rules, individuals will be able to deposit bank notes above INR 5,000 ($74) only once until the official deadline of December 30.
|
|
On Wednesday, the Tripoli bank took delivery of its own consignment of new bank notes which, officials said, had been produced by Libya's traditional currency printer — in Britain.
|
|
The slowdown may have been compounded by the demonetisation of large-denomination bank notes announced at the start of November as part of the government's anti-corruption campaign.
|
|
" Getting even more pointed, Pink wrote that these attributes don't always get as much "'attention' or bank notes as using your body, your sex, your tits and asses.
|
|
The bank had the right to take in deposits of gold from the public and—a second big innovation—to print "Bank notes" as receipts for the deposits.
|
|
Paid with the country's near-worthless bank notes, these amateurs in turn supply the government with hard currency to purchase badly needed imports of food and hygiene products.
|
|
On his victory lap, he bumped fists with his coach and ventured into the crowd, where fans dropped bank notes into a plastic shopping bag he held out.
|
|
The first set was reimposed in August, targeting transactions with Iran that involved United States dollar bank notes, gold, precious metals, aluminum, steel, commercial passenger aircraft and coal.
|
|
"The risks posed from handling Canadian bank notes are no greater than those posed by touching other common surfaces such as doorknobs, kitchen counters and handrails," it said.
|
|
Patrick Njoroge said while launching new bank notes of other denominations that older versions of smaller denominations will remain in circulation alongside the new ones, but after Oct.
|
|
Other features of Australian bank notes intended to help the Blind community and those with low vision include different lengths for different amounts, bright colours and large type.
|
|
When Mr. Modi chose to withdraw most bank notes from the economy last November to fight corruption, economists gave plenty of warning that a nasty shock would follow.
|
|
He came under fire for his pro-demonetisation stance and was the most vocal bureaucrat at the time Modi withdrew the high-value bank notes to fight tax evasion.
|
|
The bank cut the rate 20173 basis points to 28.75 percent, a move aimed at pushing cash into the economy by making central bank notes less attractive to investors.
|
|
In the African countries where they are widespread, microlenders no longer need to distribute and collect piles of bank notes—always a cumbersome task and often a dangerous one.
|
|
Puerto Rico missed a $367 million payment May 13 on its Government Development Bank notes, but municipal bond investors in general remain hopeful that there will be limited contagion.
|
|
Prime Minister Narendra Modi's decision in 353 to abolish high denomination bank notes in a crackdown on corruption hurt India's informal cash-based economy and with it car sales.
|
|
The bank cut the rate to 3.53 percent, a move aimed at pushing cash into the real economy by making short-term central bank notes less attractive to investors.
|
|
The investment bank notes that 3.5 percent of all retail stocks in its universe received an offer in the last 12 months, the biggest percentage in almost 10 years.
|
|
In Asia, Joss paper—often called "Hell Bank Notes" or "Hell Money"—is burned at funerals in order to preserve the deceased's social status and pay off earthly debts.
|
|
Local media say thieves, dissatisfied with the meager value of bank-notes, are starting to carry credit card machines to access victims' accounts during holdups in buses and restaurants.
|
|
Prime Minister Narendra Modi's decision in 21 to abolish high denomination bank notes in a crackdown on corruption hurt India's informal cash-based economy and with it car sales.
|
|
India's bad loans problem, ripple effects from its GST reform and last year's ban on high-value bank notes, could hinder growth for a longer period, analysts have warned.
|
|
The withdrawal of bank notes - that account for 86% of the value of currency in circulation - has created a cash crunch, and seems to be holding back economic activity.
|
|
Eventually however, things take a sharp turn down sober alley, as wine turns to water (sorry Jesus) and smokes become bank notes that one dude plays like a flute.
|
|
He came under fire for his pro-demonetization stance and was the most vocal bureaucrat at the time Modi withdrew the high-value bank notes to fight tax evasion.
|
|
In November, interest in Bitcoin spiked in India after the government announced moves to quickly ban the largest Indian bank notes, in an effort to crack down on corruption.
|
|
"It's a lumpy business, but the long term trend is a clear growth one and there are more bank notes in circulation today than there have been historically," Sutherland said.
|
|
But the buying by domestic investors, including mutual funds and insurers, is raising hope they are not too spooked by the abolition of higher-valued bank notes on Nov. 8.
|
|
Following the 2016 currency cancellation, the government did not print enough new bank notes to keep up with India's growing economy, betting that cash-loving Indians would embrace digital transactions.
|
|
In January they revised up growth in 2016-18, the two fiscal years most affected by Mr Modi's daft and disruptive decision to remove high-denomination bank notes from circulation.
|
|
The company, which was a subsidiary of Canada's Fortress Paper, is important to the SNB because it makes the Durasafe substrate used in the latest series of Swiss bank notes.
|
|
But Modi's government has struggled to produce enough new bank notes to meet demand, leading to a temporary slump in business in an economy that is heavily dependent on cash.
|
|
Yes, but: "While shale companies are expected to continue to achieve efficiency gains, they are starting to face cost inflation for some inputs, especially skilled labor," the World Bank notes.
|
|
Das came under fire for his pro-demonetisation stance and he was the most visible and vocal bureaucrat at the time Modi withdrew the high-value bank notes in 2016.
|
|
For the Europeans, the crisp bank notes come from giant coupes: Take an SUV, subtract some practicality, add a dose of style and a few cow herds' worth of leather.
|
|
New 100- and 200-euro bank notes entered circulation on Tuesday, completing the European Central Bank's overhaul of paper money to make it easier to handle and more counterfeit-resistant.
|
|
Though euro bank notes and coins wouldn't be released until 2002, European banks were required to use the currency in transactions as soon as markets opened on Monday, Jan. 4.
|
|
The next day, a magazine controlled by Mr. Orban's lawyer devoted its cover to an image depicting Andras Heisler, the leader of Hungary's largest Jewish organization, showered with bank notes.
|
|
New 2000- and 5-euro bank notes entered circulation on Tuesday, completing the European Central Bank's overhaul of paper money to make it easier to handle and more counterfeit-resistant.
|
|
He put his face on bank notes, ordered his portrait hung in offices and shops, enriched his family and tribal cronies and, as investigations showed, stashed billions in overseas banks.
|
|
As he was preparing to exhibit four bank notes at the Young Unknowns Gallery in London in 21992, three constables raided the gallery and hauled Mr. Boggs off to jail.
|
|
The couple has since managed to exchange the bank notes for new notes, and deposited all 200,000 yuan in the bank so Chen's father wouldn't pull an Edward Scissorhands again.
|
|
PRETORIA (Reuters) - South Africa on Friday launched a set of limited edition bank notes and gold coins to mark the 100th anniversary on July 18 of the birth of Nelson Mandela.
|
|
Indian lenders have received an estimated 231 trillion rupees ($210 billion) in deposits after Prime Minister Narendra Modi banned 27.3 and 6.43,26.4 rupee bank notes last November to curb black money.
|
|
With bank notes made useless by hyperinflation, and no easy access to the debit card terminals widely used to conduct transactions in urban areas, residents of Patanemo rely mainly on barter.
|
|
"The trend in favor of the peso is down to the pressure generated by the high interest rates on central bank notes," said Fernando Izzo, a broker at exchange house ABC.
|
|
Theories range from the impact of a 2016 ban on high-denomination bank notes, compounded by a complex new value-added tax, to problems in shadow banks and lower government spending.
|
|
The panel has, however, asked the government to consider the launch of an official government-backed digital currency in India, to function like bank notes, through the Reserve Bank of India.
|
|
Steven Zeng of Deutsche Bank notes that in the past couple of months the average maturity of large funds' assets has declined from more than 20 days to less than 13.
|
|
India's Nikkei/IHS Markit Services PMI remained below 50 registering 48.7 in January as firms still reel from Prime Minister Narendra Modi's decision in November to abolish high-value bank notes.
|
|
In one of Mr. Turnbull's hands, a wad of bank notes; in the other, the single note he was depositing in the cup, an Australian 103-dollar bill (worth about $3.80).
|
|
A few hours after the first announcement was made, only the child in the red T-shirt remained, clutching some tattered bank notes donated by a sympathetic member of the audience.
|
|
Evan Sohn, who works in the payments industry, told CNBC that paying for things with traditional bank notes is increasingly dwindling as the appetite for contactless payments and digital currencies grows.
|
|
MEDELLÍN, Colombia — Faced with nearly incomprehensible inflation — 21994,2313 percent as of Wednesday — Venezuelan officials thought they had a solution: They changed the color of the bank notes and increased their denomination.
|
|
IAN HISLOP The first thing Tom said to me was the easiest way to get your message into circulation is to use what the authorities already have: money, coins, bank notes.
|
|
Op-Ed Contributor LONDON — For the occasion of the 200th anniversary of Jane Austen's death, the Bank of England has just issued new 10 pound bank notes printed with her likeness.
|
|
There is a palpable nostalgia for being able to make a physical connection between your country's historical figures printed on paper bank notes and your personal portion of happiness and security.
|
|
The bullish mood was cemented by Indian factory activity which returned to growth in January, bouncing back from December's contraction which was triggered by the government's scrapping of high-value bank notes.
|
|
It's been over a year since Prime Minister Narendra Modi announced the ban of India's two most common bank notes, an economic gamble that left Indians in a state of financial panic.
|
|
You can lie on a bed and fling fake bank notes over yourself for a picture—"though not naked, OK?" chortles a lady buying tickets for herself and her 60-something friends.
|
|
Prime Minister Narendra Modi last month said 500 and 1,000 bank notes - worth a combined $503 billion and 86 percent of cash in circulation - would cease to be legal tender after Dec.
|
|
The Nepal Rastra Bank, the central bank, has now banned Indian currency, saying it wanted a formal communication from the Indian central bank about new Indian bank notes being brought into circulation.
|
|
NEW DELHI (Reuters) - Indian Prime Minister Narendra Modi on Tuesday defended his decision to abolish high denomination bank notes that has left the economy reeling, calling it a "fight" for the poor.
|
|
It called on citizens to shop only in state stores, banned the use of foreign currency and adopted new bank notes while limiting the amount of old notes that individuals could exchange.
|
|
Whatever the errors of policy, and whatever the occasional flaring of terrible religious violence as in Gujarat in 2002, the nation's basic alchemy is good — with or without large-denomination bank notes.
|
|
The earlier rules stated that individuals will be able to deposit bank notes above INR 303,000 ($74) only after an explanation to two bank officials as to why this was not deposited earlier.
|
|
Law used the newly issued bank notes to support the share price of his Mississippi Company and reduce the rate of interest – in other words, he provided the world's first quantitative-easing experiment.
|
|
It's a welcome change for an economy where consumer spending, traditionally a driver of growth, took a blow after Prime Minister Narendra Modi's shock decision last November to scrap high-value bank notes.
|
|
Exchange counters are also being set up at branches from 10th November, 2016 where Specified Bank Notes of Rs.1000 and Rs.500 denominations can be exchanged upto a maximum of Rs.4000/-.
|
|
It is also may appeal to those worried about a lack of supply of cash, such as in India, where Prime Minister Narendra Modi removed high-denomination bank notes from circulation in November.
|
|
The slowdown has also been blamed on another big Modi move -- his shock decision to withdraw high-value bank notes, equivalent to around 86% of the country's paper cash, in November last year.
|
|
That so-called demonetization forced Indians to exchange their cash for new bank notes, a tortuous process that prompted many people to look for digital alternatives to pay bills and buy daily necessities.
|
|
MUMBAI (Reuters) - Indians are inventing ingenious ways to try and hide their money from the tax inspector, as the government attempts to flush out vast undeclared wealth by abolishing high denomination bank notes.
|
|
Olivier Nicolai of Morgan Stanley, a bank, notes that many distributors and retailers are weary of dealing with a jumble of brands, with some cases of beer going bad before they can be sold.
|
|
"De La Rue is starting to feel like an analogue stock in a digital age...After all, the company prints bank notes in an increasingly cashless world," said AJ Bell investment director Russ Mould.
|
|
"To give context, from 22016 to 22018, the average amount of supply at risk from contract renewal disputes averaged 230 million tonnes with an average of 12 contracts up for renewal," the bank notes.
|
|
Maduro's latest stopgap measure against hyperinflation is simply to lop off three zeros and issue new bank notes, changing the currency's name from the Bolivar Fuerte (Strong Bolivar) to the Bolivar Soberano (Sovereign Bolivar).
|
|
There has been a sudden chorus of authoritative voices calling for an end to the printing of the highest value bank notes, most notably by European Central Bank chief Mario Draghi who on Feb.
|
|
WASHINGTON (Reuters) - The U.S. Treasury Department on Monday sanctioned a network of individuals and companies it said counterfeited Yemeni bank notes potentially worth hundreds of millions of dollars for Iran Revolutionary Guard's Qods Force.
|
|
After what some analysts are describing as the boldest financial measure taken since the economic liberalization of 1991, those notes will be replaced by new 500 and 2,000 rupee bank notes starting on Thursday.
|
|
Tempers frayed as hundreds of thousands of people queued for hours outside banks for a third day to swap 500 and 1,000 rupee bank notes after the notes were abolished earlier in the week.
|
|
"Our supplier of polymer substrate, Innovia Security, has confirmed that its polymer substrate used as a base for bank notes contains additives that may be produced from tallow," the message to the CBC reads.
|
|
The impact on BMW and Daimler will be severe because, as Barclays, a bank, notes, exports to America account for 10% and 8% respectively of their global sales (for Volkswagen it is only 703%).
|
|
The substrate is a three-layered paper which is used to print the new 10, 20 and 50-franc bank notes in the past 18 months as part of its redesign of the currency.
|
|
The investment bank notes that the BOJ could decide to keep its buying of those bonds at lower levels in April, which may signal that it doesn't want the yield curve to flatten excessively.
|
|
Other bacteria, such as methicillin-resistant Staphylococcus aureus (MRSA) which causes skin infections, are found on bank notes in the U.S. and Canada, but the extent to which they could spread infections is unknown.
|
|
He led Modi's most controversial policies - the abolition and replacement of high-value bank notes in an attempt to crack down on black money, and the introduction of a nationwide goods and services tax.
|
|
Those steps would come at a time when cash in the banking system has soared to around 4 trillion rupees ($8.853 billion), after the government removed higher-value bank notes from circulation in November.
|
|
On the streets of Caracas, the capital, prices have skyrocketed to levels so high that many vendors now refuse to take bolívars bank notes, the national currency, because their value is eroding so fast.
|
|
India's government-appointed committee had also recommended considering the launch of an officially-backed digital currency for use in the country which can function like bank notes and be regulated by the central bank.
|
|
China even took to cleaning bank notes, requiring all banks to disinfect cash with ultraviolet light and high temperatures, and store it for 14 days, according to a state press release reported by CNN.
|
|
"3SI Security Systems has been a crucial supplier of products that have delivered real, tangible results in the protection of ATMs and bank notes," Stuart Dowling, marketing director at Cennox told CNBC via email.
|
|
An investigation into the alleged disappearance of bank notes worth more than $100 million -- about 4.75% of Liberia's gross domestic product -- was launched in October by the US-based investigative firm Kroll Associates Inc.
|
|
In July, hundreds of fans lined up outside a record shop in Prague to buy a limited edition of souvenir zero-denomination bank notes bearing Mr. Gott's portrait in honor of his 80th birthday.
|
|
The central bank announced last week that it would speed up plans to unwind its outstanding stock of short-term central bank notes known as Lebacs, which have durations of as little as 230.25 days.
|
|
According to Treasury, Pardavesh Tasvir Rayan Co. is a printing operation controlled by businessman Reza Heidari and owned by Tejarat Almas Mobin Holding that procured equipment and materials to print counterfeit Yemeni rial bank notes.
|
|
BUENOS AIRES, March 11 (Reuters) - Argentina's peso gained 3.2 percent against the dollar on Friday as institutional investors offloaded greenbacks, attracted by high interest rates on short-term, peso-denominated central bank notes, traders said.
|
|
ZURICH, Dec 21 (Reuters) - The Swiss National Bank said it was buying a majority stake in a maker of materials for banknotes and passports - to safeguard production and prevent its new bank notes running out.
|
|
And for consumers wary of increasing scrutiny on their transactions, a preference for paper means carrying around envelopes full of hundreds of bank notes in a country where the largest currency denomination is 100,000 rupiah.
|
|
The subcontinent's shares took a mid-year hit after the introduction of a demonetization program, which will remove 500 and 1,000 rupee bank notes from the financial system, or around 86 percent of its currency.
|
|
Extreme-right student activists burst into the office of Macron's political movement in the southeastern city of Lyon on Friday evening, setting off smoke grenades and scattering false bank notes bearing Macron's picture, police said.
|
|
OSLO, May 25 (Reuters) - Norway's central bank has landed a viral hit after dropping a comedy-style rap music video about turning cod into money to launch its new series of maritime-themed bank notes.
|
|
While shortages of new bank notes are still being reported, and some companies' cash-reliant supply chains have been left in tatters, the government insists conditions will steadily improve by the end of the year.
|
|
The president of the main opposition Congress party, Rahul Gandhi, said the main issues in the election were unemployment, economic hardship in the countryside, the de-monetization of bank notes and a new sales tax.
|
|
Digital payments have assumed great significance in India after the decision of Prime Minister Narendra Modi's government ban on old high-valued bank notes in November led to a severe cash crunch across the country.
|
|
Last year, for Canada's 150th anniversary, the Bank of Canada issued a small number of special bank notes on which Agnes Macphail, the first woman elected to Parliament, shares the front with three male politicians.
|
|
India's surprise move to ban several bank notes last November — aimed at rooting out illicit cash — appeared to have achieved the opposite of its intended goal, according to a report from the country's central bank.
|
|
Kroll raised concerns over what it called "discrepancies at every stage of the process for controlling the movement of bank notes" into and out of the central bank during its review into the bank's activities.
|
|
KATHMANDU, July 18 (Reuters) - Nepalis stand to lose millions of dollars held in high-value Indian bank notes that India banned last year and has yet to exchange, a Nepali central bank official said on Tuesday.
|
|
The video basically takes that concept and presents it in visual fragments: cigarette smoke, bank notes rolled up next to a bible, bloodied hands, eerie shots of the moon, lots of darkness—that sort of thing.
|
|
Next to it, a "Manon" cart held rifles, a bird cage and, for the scene in which the luxury-loving Manon gets her earnest lover to gamble, a champagne bottle and a box of bank notes.
|
|
In 2015 interest rates began to fall and in November 2016 the government replaced the stock of bank notes overnight, leading savers to switch from physical money into deposits with banks, and into debt mutual funds.
|
|
The Pentagon released videos of some of the strikes, including one in which a cloud of bank notes appeared to be fluttering through the air after a strike on a building in Mosul, Iraq, this month.
|
|
KUALA LUMPUR (Thomson Reuters Foundation) - In a dimly lit shop in Kuala Lumpur, where dried fish, herbs and pickled tea leaves imported from Myanmar are on display, two men sit behind a counter inspecting bank notes.
|
|
The extent of the impact of the measures became evident as petrol stations and hospitals also refused to accept larger denomination bank notes, even though the government had given them a waiver to continue accepting them.
|
|
Bonds extended falls, with sentiment also hit after the RBI said it would start curbing excess liquidity after the government's move to withdraw higher-value bank notes from circulation led to a surge in bank deposits.
|
|
De Beers had a difficult year in 2015 and recovered last year, although sales of some qualities dropped in the final quarter following India's decision to withdraw its high-denomination bank notes, which hit retail spending.
|
|
One may recall that rating agencies have also cut their GDP estimates for India in anticipation of a temporary disruption in economic activity during Q3 because of the government's decision to ban large-denomination bank notes.
|
|
Many farmers complained they are still reeling from disruptions caused by the launch of a new nationwide Goods and Services Tax (GST) in July 2017 and a ban on high denomination bank notes in November 2016.
|
|
In the last month, Zimbabwe has witnessed spontaneous protests against government corruption, shortages of money and government plans to circulate local bank notes as the southern African nation struggles with a drought and a slowing economy.
|
|
ALMATY, July 30 (Reuters) - Kazakh government bonds and central bank notes can be cleared through the international system Clearstream from Monday, making them more easily available to foreign investors, the Central Asian nation's central bank said.
|
|
The sanctions ban any transactions with Iran involving United States dollar bank notes, gold, precious metals, aluminum, steel, commercial passenger aircraft and coal, and they end imports into the United States of Iranian carpets and foodstuffs.
|
|
Sylvie Kauffmann PARIS — Much to our surprise in Europe, religion wasn't a big theme in the 2016 presidential election in the United States, a country that proclaims its trust in God even on its bank notes.
|
|
William Chan (L) of the US Secret Service and Ross Bautista (R), executive officer of National Bureau of Investigation, show counterfeit US bank notes popularly known as supernotes during a briefing in Manila, in March 2006.
|
|
Indian Prime Minister Narendra Modi in November banned 500 rupee ($7.77) and 1,000 rupee bank notes as part of a drive against unaccounted wealth in India that has also hit Nepal where Indian rupees are widely used.
|
|
Sixty-nine-year-old Hanif Baba, whose family are all silk weavers, said the looms were shut down as the owners employed them to stand in queues all day to exchange old bank notes for new ones.
|
|
While the move to withdraw 13 percent of bank notes shook the economy and was widely criticized, the fight against unaccounted wealth carries overwhelming support from ordinary Indians who often have to pay bribes for government services.
|
|
DONALD TRUMP'S presidential campaign is astounding political analysts and flummoxing economists; and we also look at whether high denomination bank notes are useful only to criminals Upgrade your inbox and get our Daily Dispatch and Editor's Picks.
|
|
Digital transactions in India have surged after Prime Minister Narendra Modi's shock ban of certain high-value bank notes in November that accounted for more than 80 percent of the country's currency in circulation at the time.
|
|
Among protesters' main gripes: a stagnant economy in which most still live in deep poverty and a scandal in which the country last year lost $100 million in newly printed bank notes destined for the central bank.
|
|
SEOUL, March 6 (Reuters) - South Korea's central bank said on Friday it was quarantining bank notes for two weeks to remove any traces of coronavirus and even burning some as part of efforts to stem the outbreak.
|
|
NEW DELHI (Reuters) - Indian central bank Governor Urjit Patel will not appear on Thursday before parliament's finance committee to brief it on the government's decision to scrap high-value bank notes, the panel's chairman said on Wednesday.
|
|
The biggest thing Mr Gurumurthy is thought to have helped get done is demonetisation in 2016, when 86% of bank notes by value were abruptly withdrawn from circulation in an attempt to crack down on undeclared "black money".
|
|
Look at the figures for 2003 to 2006: And then from 2013 to 2015: Mashable has reached out to the Bank of England requesting further context on how exactly the bank notes end up being chewed or eaten.
|
|
There are bank notes from the Seychelles onto which an engraver with a sophomoric sense of humour managed to sneak on the words "sex" and "scum", caricatures of kings and tyrants, and still more penises and fart jokes.
|
|
"Bitcoin is a sanctuary in emerging markets where knee jerk policy reactions are commonplace - India's move on high value bank notes is just the latest in a string of poorly communicated & executed judgments," he told CNBC via email.
|
|
India's program to remove 26 and 27.5,28 rupee bank notes (around $7.36 and $14.72) from the financial system has entered its final day on Friday, but it wasn't clear when the subcontinent's economy would get back to normal.
|
|
Low interest rates meant people did not lose money by stashing money under the mattress, and the use of cash was increasing, although Zurbruegg said he did not see a major surge in the hoarding of bank notes.
|
|
Lenders in Asia's third-largest economy have been flush with billions of dollars of liquidity in the past month as people rushed to deposit higher value bank notes that had been rendered worthless by the government last month.
|
|
Groening admitted he was morally guilty for the work he carried out at Auschwitz, which included sending bank notes he found in Jews' luggage to SS offices in Berlin, where they helped to fund the Nazi war effort.
|
|
BUENOS AIRES (Reuters) - Argentina's peso ended the week stronger while interest rates on short-term central bank notes crept higher, sopping up pesos in the foreign exchange market that might otherwise have scrambled toward safe-haven U.S. dollars.
|
|
Despite being an ocean away, the memorial's two pylons have appeared on Canadian bank notes and are so well known that the Canadian Broadcasting Corporation used the monument's silhouette as the logo for its broadcast on the anniversary.
|
|
Strong growth would end two choppy years which saw consumption dented by a surprise demonetization programme launched by India's government that crimped public spending after the most commonly used bank notes were removed from circulation at virtually no notice.
|
|
MUMBAI, Dec 7 (Reuters) - Indian banks have so far received roughly 11.5 trillion rupees ($169.45 billion) in discontinued currency since the government decided to abolish high value bank notes last month, RBI deputy governor R. Gandhi said on Wednesday.
|
|
The BoE said that as well as the environmental concerns about palm oil, cost was a consideration: the switch would add about 16.5 million pounds ($21.45 million) to the cost of making bank notes over the next 10 years.
|
|
Central Nepal Rastra Bank (NRB) officials say the Reserve Bank of India (RBI) verbally agreed to allow every Nepali national to exchange up to 4,500 rupees worth of scrapped Indian bank notes in a meeting in March last year.
|
|
ZURICH, Feb 27 (Reuters) - The Swiss central bank sought on Monday to allay fears among citizens that bank notes could eventually be phased out as a result of global money-laundering rules or the rise of alternative payment systems.
|
|
The prospect of disruption is drawing comparisons with Modi's decision last November to scrap high-value bank notes that made up 86 percent of the cash in circulation, in a bid to purge illicit "black money" from the system.
|
|
"Having held its ground in November following the unexpected withdrawal of 500 and 1,000 bank notes from circulation, India's manufacturing industry slid into contraction at the end of 2016," said Pollyanna De Lima, economist at survey compiler IHS Markit.
|
|
NEW DELHI, June 21 (Reuters) - India on Wednesday allowed banks and post offices to exchange old, big bank notes, which are no longer in circulation, with the central bank in a month, provided these notes were collected by Dec.
|
|
The case, which occurred this summer but became public only after a report last week in the Swiss daily Tribune de Genève, has highlighted concerns about the use of high-denomination bank notes for money laundering and other crimes.
|
|
Evan Mawarire, a pastor whose social media movement #ThisFlag organized the "stay-away", demanded that President Robert Mugabe fire corrupt cabinet ministers and scrap plans to introduce local bank notes or face a two-day shut-down next week.
|
|
His star has dimmed somewhat, in part due to fallout from a shock 2016 decision to scrap then circulating high-value bank notes, but with some businesses wary of a fragile opposition coalition coming to power, Modi retains backers.
|
|
Many of the firms were hit by the economic impact of Prime Minister Narendra Modi's banning of then existing higher denomination bank notes in late 2016 and the introduction of a new goods and services tax in the middle of 2017.
|
|
The nearly 75 percent rise in the Nifty 500 index during Modi's tenure also reflects a flight of money from traditional investments such as real estate and gold into shares following his shock 2016 ban on high-value bank notes.
|
|
And the prices continue to go up, and painting degenerates into something shady, a kind of gold mine situated on the heights of Montmartre, promoted by a number of bankers, and around which there is a constant battle of bank notes.
|
|
NEW DELHI (Reuters) - Prime Minister Narendra Modi on Friday defended his decision to withdraw high denomination bank notes from circulation, as a deadline to end severe cash shortages passed with Indians still queuing at banks to deposit savings and withdraw money.
|
|
SYDNEY (Reuters) - Australia has stopped printing bank notes for the first time in a century after workers employed by the Reserve Bank of Australia (RBA) took a lead from the bank's governor and went on strike for a bigger wage rise.
|
|
MUMBAI (Reuters) - India's shock move to take larger bank notes out of circulation will hit Asia's third-largest economy in the short term, but pain will turn to longer-term gains including transparency, higher tax revenues and lower inflation, economists said.
|
|
MUMBAI (Reuters) - An Indian parliamentary committee, probing the government's decision to scrap high-value bank notes, has sent the country's central bank governor a list of questions on the demonetization process and asked him to appear before it on Jan. 20.
|
|
KATHMANDU, April 4 (Reuters) - Nepali Prime Minister K.P. Sharma Oli will press India to exchange millions of dollars held in Nepal in banned high-value Indian bank notes during a visit this week to improve ties with its large southern neighbour.
|
|
Nepal and India have yet to agree on how to exchange old Indian bank notes estimated to be worth $146 million held by individuals and informal sectors after India's shock announcement in 2016 to ban 500 and 1,000 rupee bills.
|
|
While the program may have largely succeeded in getting India's people to take their bank notes out of their mattresses and put them in a bank account, spending the money has become a sticky wicket for returning the economy to normal.
|
|
Bank of Canada, via Wikipedia Though monarchs had intermittently made appearances on British bank notes in the early 20th century, it wasn't until 1960 — with Queen Elizabeth II's rise — that they became the de-facto face of the country's currency.
|
|
There was also at least one piece of evidence that some of that hoarding may have already begun, the IMF economists wrote, with demand for bank notes rising in Switzerland, where the central bank introduced negative rates in December 2014.
|
|
The nearly 75 percent rise in the Nifty 500 index during Modi's tenure also reflects a flight of money from traditional investments such as real estate and gold into shares following his shock 43 ban on high-value bank notes.
|
|
NEW DELHI/MUMBAI (Reuters) - Indian officials extolled last year's shock ban on high denomination bank notes as a success on Wednesday, while opponents staged protests and Nepal said its citizens were still stuck with billions of rupees in old money.
|
|
While the decision to outlaw 500- and 1,000-rupee bank notes late last year was part of a broader crackdown on corruption, the sudden withdrawal of 86 percent of currency in circulation had left businesses, farmers and households all suffering.
|
|
The European Commission has previously said it wants to create a regulatory framework for the sharing economy, and the World Bank notes that temporary workers in the EU earn an average of 14 percent less than those with open-ended contracts.
|
|
On Monday, Puerto Rico defaulted on the debt service payment of its Government Development Bank notes ($22019 million), and in 8 weeks from now the island will in all certainty default on its constitutionally guaranteed General Obligation bonds ($779.9 million).
|
|
Duhra also noted that India's demonetization program, which will remove 500 and 1,000 rupee bank notes from the financial system, or around 86 percent of its currency, could have a big, short-term impact on economic growth and corporate earnings.
|
|
More eyebrows were raised when the government revised GDP growth for 2016/17 - the year when Prime Minister Narendra Modi banned 87% of high value bank notes in a big jolt to the cash-dependent economy - to 8.2% from 6.7%.
|
|
Mounting debt is one issue: The company announced Monday that it plans to take on $2 billion in new debt by offering unsecured bank notes, a measure it says may be needed for content acquisitions, production costs or other investments.
|
|
They came up with a flag that features a bobbing plastic water bottle; a passport with sea creatures tangled in rope; and bank notes that comprise the "Debris" currency, whose different denominations depict various visions of marine life ruined by pollution.
|
|
CARACAS, June 12 (Reuters) - Venezuela is releasing new bank notes for the second time in less than a year, the central bank said on Wednesday, after hyperinflation eroded the effects of an August 2018 monetary overhaul meant to improve availability of cash.
|
|
Former Bank Chief Calls for Ban on High-Denomination Notes | By taking high-denomination bank notes from circulation, governments could make life harder for criminals, argues Peter Sands, the former chief executive of Standard Chartered bank, in a paper published on Sunday.
|
|
While these changes have been added to further tackle the spread of black money and corruption in the country, people have complained that this adds another layer of bureaucracy to the existing inconvenient process of exchanging bank notes and depositing cash into accounts.
|
|
Prime Minister Narendra Modi's 2016 ban on high-value bank notes, higher tax rates under a new goods and services tax regime, a boom of ride-sharing firms such as Uber and Ola, and a weak rural economy have all played a role.
|
|
Those gains are expected to be driven by an increase in company earnings as the economy picks up momentum this year after slowing for much of 2017 as disruptions from a ban on bank notes and a goods and services tax fade.
|
|
He said he recognized people faced difficulties as the transition to the new series of bank notes takes place but was confident they would stand by the decision as part of the war against corruption and to rid India of endemic poverty.
|
|
NEW DELHI/MUMBAI (Reuters) - Indian banks called in thousands of police on Thursday to manage huge queues outside branches, as people tried to exchange bank notes abruptly pulled out of circulation by Prime Minister Narendra Modi in a crackdown on "black money".
|
|
BUENOS AIRES, Nov 17 (Reuters) - Argentina will limit insurance companies' holdings in short-term central bank notes known as Lebacs, as the government seeks to direct more investment toward activities such as infrastructure, the insurance regulator said on Friday in the official gazette.
|
|
Prime Minister Narendra Modi's 212 ban on high-value bank notes, higher tax rates under a new goods and services tax regime, a boom of ride-sharing firms such as Uber and Ola, and a weak rural economy have all played a role.
|
|
Beard draws straight lines from the attitudes of the classical world to the sexism that attended Hillary Clinton's presidential campaign; the harassment women face online; the bomb threats that followed one scholar's suggestion that Britain might feature more women on bank notes.
|
|
That was despite the fact Mr. Brodkin performs as a character called Lee Nelson, whose website mentions pranks including disrupting a news conference by throwing bank notes at Sepp Blatter, the former president of FIFA, the governing body of international soccer. Mrs.
|
|
The removal of 500 and 1,000 rupee bank notes to flush out money hidden from the tax man has led to confusion and anger among Indians, who cannot access cash from ATMs and are working out how to preserve the value of what they hold.
|
|
Some might say we should be satisfied with plans to use the back side of two relatively minor bank notes -- the $203 and the $5 -- to depict group scenes of women's activism, while preserving the front-of-the bill portraits of Hamilton and Lincoln respectively.
|
|
One of the main factors driving the slump was the government's ongoing efforts to attack the informal economy, culminating in the removal of high denomination 500 and 1,000 rupee notes in November, a demonetization that effectively removed some 86 percent of bank notes by value.
|
|
Finance Minister Arun Jaitley spoke about the surging growth of RuPay and Unified Payment Interface (UPI), which allows swift inter-bank fund transfers, on the second anniversary of Modi's shock decision to replace high-value bank notes in a bid to flush out untaxed wealth.
|
|
Economic growth slowed to a two-year low of 6.1 percent in the quarter to March, reflecting the impact of Modi's shock decision last November to scrap high-value bank notes in a bid to purge the economy of illicit or undeclared "black cash".
|
|
Ordinary bank notes, such as dollar bills, can harbor harmful varieties of bacteria, and could be an effective medium for spreading infectious diseases among people, said a group of Hong Kong researchers in a study published this week in the journal Frontiers in Microbiology.
|
|
KATHMANDU/NEW DELHI, Dec 107.48003 (Reuters) - India's scrapping of high-value bank notes last month has dragged down economic growth in neighbouring Nepal with trade, remittances and tourist numbers all down, BMI Research, a group company of the Fitch rating agency, said on Wednesday.
|
|
NEW DELHI (Reuters) - The Indian government on Wednesday offered a credit line to support millions of farmers who have been left short of cash to buy seeds and fertilisers for their winter crops after its decision to cancel 500 and 1,000 rupee bank notes.
|
|
Broadly steady global diamond jewelry demand worth $80 billion in 2016 masked 4.4 percent growth in the United States and an 8.8 percent fall in India, where sales were disrupted by a jeweler's' strike and a government decision to withdraw high-value bank notes.
|
|
Two years ago, Prime Minister Justin Trudeau, who describes himself as a feminist and whose government requires departments to examine their programs to ensure gender equality, said the country would introduce a woman who wasn't the monarch on the front of its bank notes.
|
|
Termites, on the other hand, are an affront to human civilization, munching their way through everything we hold dear: our libraries, our homes, even our cash — in 2011 an errant gang of termites burrowed into an Indian bank and ate $220,000 in bank notes.
|
|
"We are still in a fragile economic situation in the euro zone, and it does not seem smart for the government to talk about setting limits on cash payments and for the ECB (European Central Bank) to consider abolishing 500 euro bank notes," Thiele told Frankfurter Allgemeine.
|
|
The world's second-biggest spirits group behind Britain's Diageo said sales growth in India, which accounts for about 21 percent of Pernod's revenue, slowed to 210 percent in the first half as an Indian government ban on high-value bank notes held back local whisky consumption.
|
|
But a government ban on high-value bank notes held back local consumption in the second and third quarter and sales growth in India slowed to 20.9327 percent in the nine months to March 31, from 12 percent in the full year 2015-16, Pernod said.
|
|
But even still, some experts say India's slowdown was self-inflicted — pointing to the government's overnight demonetization of the 500 and 1000 rupee bank notes, for example — and that 7% growth in a country where "a million young people join the job market every month" isn't enough.
|
|
She recalled the period in the late 1980s when Zambians had flocked to Zimbabwe to buy basic goods with Zambian bank notes that had lost much of their former value, thanks to hyperinflation and economic instability caused by a series of so-called structural adjustment programs.
|
|
BAJNA, India (Reuters) - For Indian farmer Buddha Singh, who works a small plot of land in the village of Bajna south of New Delhi, the government's decision to abolish 500 and 1,000 rupee bank notes to crush the shadow economy could hardly have come at a worse time.
|
|
Most economists believe the RBI will cut the repo rate by 25 basis points (bps) to a six-year low of 6.00 percent at a policy review, and follow that with at least one easing next year after the scrapping of high-value bank notes severely curbed consumer demand.
|
|
CARACAS (Reuters) - - Venezuela's leftist president Nicolas Maduro on Monday said he would close the bustling border with Colombia for 72 hours to prevent the smuggling of bank notes, a day after he announced the country's biggest bills would be withdrawn to crack down on organised criminals operating on the border.
|
|
"The Board of Diamond Bank ... notes the media speculation relating to comments attributed to its former chairman, Mr Oluseyi Bickersteth ... contrary to such media articles, the Board wish to clarify that the Company has not received an offer from an investor to inject cash," the bank said in a statement.
|
|
In a 2015 court battle seen as one of the last major Holocaust trials, prosecutors said although Groening did not kill anyone himself while working at Auschwitz, in Nazi-occupied Poland, he helped support the regime responsible for mass murder by sorting bank notes seized from trainloads of arriving Jews.
|
|
After each encounter, he would create an artwork in response, culminating in the final episode with a 2.2-foot-tall glazed ceramic phallus in the image of the City of London's bankers featuring photographic transfers of bank notes and stencils of the face of George Osborne, the chancellor of the Exchequer.
|
|
As head of state (but not the government), the queen's image still appears on bank notes and postage stamps, and her representative, the governor general, serves as a rubber stamp: signing off on new legislation passed by Australia's federal Parliament, approving new prime ministers and appointing judges, ambassadors and other officials.
|
|
On top of all this, early estimates indicate that the Indian banks ended up receiving 97 percent of the banned bank notes by the December 30 deadline last year — far more than the government estimated would be returned, based on the assumption that illicitly held money would've simply been left undeclared.
|
|
CARACAS (Reuters) - - Venezuela's leftist president Nicolas Maduro on Monday said he would close the bustling border with Colombia for 72 hours to prevent the smuggling of bank notes, a day after he announced the country's biggest bills would be withdrawn to crack down on organized criminals operating on the border.
|
|
Several bank notes dating all the way back to World War II, worth $2.5 million in today&aposs money, have been found at the location of Cotswold Outdoor store in Brighton, which was formerly Bradley Gowns, a branch of a well-known London-based furrier frequented by Churchill and his wife, Lady Clementine.
|
|
"The important point politically is that it's the lower-end jobs that matter, because that is where the job destruction had happened since demonetization," he said, referring to the government's overnight removal of high value bank notes from circulation in late 2016 in a bid to curtail the shadow economy and criminal activity.
|
|
But any move to hike the repo rate INREPO=ECI of 6.25 percent would need to be balanced by concerns among market participants that the economy is weaker than the 7.0 percent growth in the October-December quarter, as India's move last year to ban higher-valued bank notes continues to reverberate.
|
|
The company, which holds the contract to design and make the Bank of England's new polymer notes, said the cornerstone of its three-year strategy was to capitalise on a trend of transition from paper to polymer currency, which so far accounts for only 3% of the world's bank notes by volume.
|
|
In a comprehensive report on Asia's outlook for the year, HSBC noted India could grow at an annual rate of 22017 percent for fiscal 2018 and 7.6 percent for fiscal 2019, shrugging off any lasting effects from its program to remove 500 and 1,000 rupee bank notes from the financial system in November, labelled demonetization.
|
|
A senior finance ministry official said major policy decisions including demonetization, Modi's decision to wipe out high-denomination bank notes without warning in 2016 and to hastily launch a goods and services tax that hit millions of small businesses and jobs, were examples of political decisions that didn't get enough airing among officials before being implemented.
|
|
"Turnbull — a man with a $133 million net worth, a man who carries a stash of bank notes in a money clip, a man who donated a cool $1 million to his own election campaign — could only spare a fiver to shove in another, poorer man's coffee cup," Erin Stewart wrote in The Sydney Morning Herald.
|
|
But a government ban on high-value bank notes held back local consumption in the second and third quarter and sales growth in India slowed to 1 percent in the nine months to March 31, down from 12 percent in the 2015-16 full year Pernod Ricard's sales in Asia were flat in the nine months to March 31.
|
|
In a report titled "Strategists still scorn stocks," published Monday by BofAML's equity and quantitative strategy team, the bank notes the contrast between the growing bearishness in the sell side of the financial services industry — creators of financial instruments like stocks and bonds — and the increasingly bullish sentiment on the buy side, that of firms like hedge funds and private equity funds.
|
|
On top of countless royal commissions, Garrard is known for exquisite tiaras, including the Cambridge Lover's Knot, a headpiece of 19 diamond-encrusted arches framing large drop-shaped pearls that has been passed down from Queen Mary to Queen Elizabeth II and lent to Princess Diana, and recently worn by the Duchess of Cambridge, in addition to the "Girls of Britain and Ireland tiara," the spiky diadem with a band of round and lozenge-shaped diamonds frequently worn by Queen Elizabeth II and featured on British bank notes.
|
|
In the event of a fire or another disaster that could potentially damage all of my belongings, for example, I know that I could claim coverage for these maximums per each category, with a collective maximum of $23,22 of coverage:$2500,22013 - personal belongings located in a storage facility$1,000 - jewelry, watches, furs, and precious stones$2,000 - firearms$2,500 - silverware, tea sets, flatware, goldware$5003,500 - personal property for a home-based business$1,000 - electronics$200 - money, bank notes, silver and gold coins$1,000 - securities, letters of credit, personal records, passports and tickets$1,000 - watercrafts$1,000 - non-watercraft trailersAs a freelance writer who works from home, I am particularly encouraged by the $2,500 worth of home-based business property coverage.
|
|