Besides, new Rs 500 and Rs 2000 notes, the RBI has also printed new Rs 200 notes.The government had on November 8, banned old Rs 500 and Rs 1,000 notes in an attempt to weed out black money in the country.9 crore have not been returned post the note ban last November.. Instead, a new Rs 2,000 note was introduced post note ban.7 crore Rs 500 notes in circulation.6 crore pieces of Rs 1,000 currency notes in circulation, 8.Mumbai: All but 1. In its annual report for 2016-17, the RBI said that out of 632.4 per cent of the old Rs 1,000 notes have come back into the banking system post demonetisation, the Reserve Bank said on Wednesday.The government replaced old Rs 500 notes with new ones, but no replacement for Rs 1000 notes has been made.The report further said that the cost of printing of currency notes more than doubled to Rs 7,965 crore in 2016-17 from Rs 3,421 crore in the previous year Textile Printing Manufacturers on account of new currency printing. As of March 31, 2016, there were 1,570. The old notes were allowed to be deposited in banks, with unusual deposits coming under income tax scrutiny.2 crore of Rs 500 notes, both old and new in circulation as of March 31, 2017. RBI said there were as many 588
"By February, at this rate, the RBI could thus print as much as 89 per cent of the total China Textile Printing suppliers currency, it said.Talking about demonetisation, the report said as on December-end only 44 per cent of the banned currency has been replaced as against the earlier estimate of 53 per cent."We expect RBI may not oblige with a rate cut in February as global uncertainties may again play spoilsport, according to Ecowrap, an SBI research report.It further said during April-October, when the repo rare was slashed by 50 basis points, the growth in incremental credit to housing was around Rs 64,000 crore.5 per cent."If we assume that the RBI continues to print as it is doing as of now, then by January-end, only about 67 per cent of the currency should get replaced (vis-a-vis earlier estimate at 75 per cent).Mumbai: Reserve Bank is unlikely to cut repo rate in the February review meeting due to the prevailing global uncertainties and its stance may continue to be accommodative next year as inflation is expected to remain benign, according to a report."Though inflation may increase in March, it may still be closer to the lower band of 4-4."In any case, a lower growth this year will give the government significant advantage next year in terms of a lower base, the report added. It, however, said if he the apex bank decides to shift its printing more towards smaller denomination, this number could be close to 80 per cent. In the demonetisation period (November-December 2016), though there was a negative growth in incremental credit, housing credit still managed an increase of Rs 4,063 crore.3 per cent."With rate cuts by banks like SBI now being 90 basis points at one go, clearly the evidence is strong for a credit growth rebound at least in the housing sector," the report said.2-3. "If this is the case, the possibility of GDP bounce back faster than anticipated may not be ruled out.. Hence, the scope for accommodative monetary cycle will continue even in the financial year 2017-2018," the report said. The December inflation numbers may witness a reading closer to 3. One possible reason for this could be that RBI is also printing notes of smaller denominations apart from Rs 500 bills and hence the total value getting replaced is lower than projections, though the number of pieces may not, it said.The report said things will be closer to normal by February-end as opposed to predictions of the currency swap exercise-linked crisis lasting longer. It said inflation trajectory is expected to remain significantly benign
The historic Dr Babasaheb Ambedkar Bhavan, located behind Chitra Cinema, Dadar (east) was demolished. "We have just followed the BMC’s orders. However, Mr Gaikwad did not answer to phone calls and text message regarding the allegations against him.Gokuldas Pasta Road at Dadar (east) houses the Ambedkar Bhavan that had an old printing press started by Dr Babasaheb Ambedkar in 1944.The family also dismissed the trust’s plans for building a 17-storey building with various amenities in the place where Dr Ambedkar Bhavan stood. We plan to build a 17-storey structure with library, vipassana centre, conference halls and modern amenities within a year. The family members are not part of the trust set up by Dr Ambedkar then. "There were many offices, library, printing press, computer room which are demolished completely. As the building was found to be in a dilapidated condition, the Brihanmumbai Municipal Corporation (BMC) had, on June 1, sent a notice to the trust indicating the status of the building. The demolition started in the early hours to avoid inconvenience to the people, as Dadar is a very crowded place. In fact, it was written by him that his family members will not be part of the trust," said Vijay Ranpise, one of the trustees. The demolition was conducted at 3 am on Saturday. However, Anandraj Ambedkar has lodged an FIR in the Bhoiwada police station against the demolition. He also added that Ambedkar family members were given offices at the building. Objecting to the demolition, members of the Ambedkar family, including Dr Ambedkar’s grandsons, Prakash Ambedkar and Anandraj Ambedkar, reached the spot to register their protest. We have lodged an FIR and want immediate action from the police. (Photo: Rajesh Jadhav)Demolition of the iconic Dr Ambedkar Bhavan near Dadar station in the early hours on Saturday has sparked a controversy, as family members of Babasaheb Ambedkar objected and filed an FIR against ‘The People’s Improvement Trust,’ which runs the institute. Dr Ambedkar’s family alleged the demolition had been carried out early in the morning to avoid protests from them. We have collected fund for that and the chief minister has also sanctioned stickers `10 crore for us," Mr Ranpise added. The demolition was conducted in the wee hours to avoid protest from us. Following the notice, the trust decided to demolish the building. One of the former trustees and present Information Commissioner of the state, Ratnakar Gaikwad, is behind the demolition," Mr Ambedkar alleged. "One of its walls also collapsed during this monsoon and hence we decided to demolish the building.
Online shopping platforms were a paradigm shift which asked people to spend money without the physical manifestation of the product and without any sensory verification of the product. With safer online transactions, super-fast checkouts and assured on-time deliveries, e-commerce has drastically altered the very concept of shopping in a very short span. This has resulted in a global system of trustworthy networking. These views and opinions do not necessarily represent those of Deccan Chronicle and/or other staff and contributors to this site.With the continuously increasing digital inputs of e-commerce companies, the last mile deliveries are witnessing major developments regularly. It has made it easier for both companies and clients to monitor the process."Digital India" launched by the Indian government to escalate the growth of the country comes with the development agenda to create new investment opportunities and to promote globalization. Much of it can be attributed to digital adoptions in the sector window film which has significantly improved the market. Digitalization has revolutionized the way customers used to reach out to the companies, for complaints, suggestions or compliments. Companies are now using digitalization as a tool to manage crisis such as potential future supply shortage, route optimization, weather vagaries and other insights for making strategic decisions to improve their market positions.Improved Customer InvolvementNew technologies provide transparency to the logistics portion of an ecommerce transaction including status of orders, making customers in-charge of the whole process. Digital interpretation in the business has made the feedback process easier and error-free.Rise of the e-commerce and logistics industriesWhen e-commerce sites were first introduced, people were hesitant to try the new routes.Easy- to access ways to get all the information has made customers feel safe from error and fraud. Technology has also allowed the companies to be interactive with their customers resulting in more customer involvement. Digitalization has allowed service providers to become more transparent to its publics. Parties involved, irrespective of their location, can easily exchange information required in any supply chain process.Effective monitoring and evaluation of businessTechnology has wiped out global boundaries and enhanced economic integrations. The use of digitalization in the logistics industry has led to significant reduction in transportation and supply chain costs. New logistics concepts are emerging in reaction to these developments. Indian consumers have readily adapted digital technologies, and this drives Indian companies to develop technologically as well.-Mr.. Monitoring helps companies to find out their weakness and improve it. According to a study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), the logistics market in India is expected to grow to USD 307 billion by the year 2020, recording a CAGR of 16 per cent on an average. They can track the minute details of their product, from packaging to shipping to delivery at their door just with the click of a thumb. Primary growth factors for the logistics market are increased use of internet and mobile services, all of which are contributing to the significant growth of the worlds e-commerce sales. Abhishek Bansal, Co-founder & CEO, ShadowfaxDisclaimer: The views and opinions expressed in this article are solely those of the original author. Their trust in the process has positively impacted the business, once again proving that customer satisfaction and retention is the key to a successful business. Some transitions that have taken place in the logistics sector are:Increased use of Smart devices & GadgetsDigitalization has enabled device connections to each other via the internet which has brought in a high level of ease in the way communications and transactions are done in the sector. With this central push, progressively more sectors are adopting digital technologies.The logistics industry has been called upon to partner the growing e-commerce industry; which has been possible only through technological applications to an age-old industry. Digitalization is transforming many sectors, including logistics, into a better and advanced version of their old selves. It has also encouraged tech-enabled startups in the logistics sector which bring seamless movement of goods across the country
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