Mumbai: Currency notes issued before 2005 will be completely withdrawn from circulation by the end of the current financial year ending March 31, the Reserve Bank of India (RBI) said yesterday. The central bank said from April 1, 2014, public would be required to approach banks for exchanging these notes. “Banks will provide exchange facility for these notes until further communication,” the RBI said in a statement. The central bank stated that public can easily identify the notes to be withdrawn as those issued before 2005 do not have the year of printing on their reverse side. The Reserve Bank has also clarified that the notes issued before 2005 will continue to be legal tender. This would mean that banks are required to exchange the notes for their customers as well as for non-customers. From July 1, 2014, however, to exchange more than 10 pieces of Rs500 and Rs1,000 notes, non-customers will have to furnish proof of identity and residence to the bank branch in which she/he wants to exchange the notes.
19 convicted in fodder scam
Ranchi: A special Central Bureau of Investigation court yesterday convicted 19 people, including former Janata Dal-United MP Jagdish Sharma, in a multi-million-rupee fodder scam case. The case is related to fraudulent withdrawal of Rs1.16 crore from the Godda district treasury. There were 30 accused in the case. Six died during the course of trial, two turned CBI approvers, two admitted their guilt and one is still absconding. Of the 19 convicted, seven were sentenced to three years’ imprisonment. The quantum of sentence against the remaining 12 will be pronounced on January 24. Sharma was also convicted in a fodder scam along with Rashtriya Janata Dal chief Lalu Prasad in September 2013. IANS
