ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Public News for a true Indian

vishnupriya (CA Final) (1418 Points)

02 June 2010  

Please don't write anything on a currency note. They can't be used for standard transactions.

Eg: You can't find written notes in ATM because of written rupee note, 2000 Cr. loss for Indian Govt. per year.


 12 Replies

CA. Dashrath Maheshwari (TaXpert) (15065 Points)
Replied 02 June 2010

Ever since 1999, when the Governor announced the Clean Note Policy, several steps were taken for augmenting the supply of currency notes and coins. The members of public were urged not to write on the currency notes and banks were instructed to provide unrestricted facility for exchange of soiled and mutilated notes. As per the Reserve Bank instructions, currency chest branches of the banks must offer, even to non-customers, good quality notes and coins in exchange for soiled and mutilated notes. Complaints, however, continue to be received in this regard from the public and trade bodies that these instructions have not been given full effect.

 

Alpana Killawala
General Manager

Press Release: 2002-2003/589

2 Like

CA. Dashrath Maheshwari (TaXpert) (15065 Points)
Replied 02 June 2010

Writing on the bank notes is punishable under Section 35A of the Banking Regulation Act 1949.

2 Like

CMA. CS. Sanjay Gupta ("PROUD TO BE AN INDIAN")   (114102 Points)
Replied 02 June 2010

THANKS FOR DETAILED INFORMATION. WE, ALL THE MEMBERS OF CA CLUB INDIA, SHOULD TAKE INITIATIVE TO SPREAD THIS AWARENES AND HOPE TO HAVE CLEAN INDIAN CURRENCY IN FUTURE.

1 Like

Prasad R (CA Final) (2123 Points)
Replied 02 June 2010

@ Vishnu and Dasrath sir Very good information shared . Thanx a lot.

1 Like

Max Payne (employed) (2569 Points)
Replied 02 June 2010

Originally posted by : Vishnu Priya

Please don't write anything on a currency note. They can't be used for standard transactions.

Eg: You can't find written notes in ATM because of written rupee note, 2000 Cr. loss for Indian Govt. per year.

 

I Think thats not true....

ATM machine can handle written notes also....

And printing fresh currency causes loss to the govt? how?

1 Like

CA. Dashrath Maheshwari (TaXpert) (15065 Points)
Replied 02 June 2010

For a common man, soiled notes of rupee one, two, five and ten are an every day nuisance. Due to rising costs of day to day commodities like vegetables and fruits which can not be purchased from small venders by using a credit/debit card, even fifty rupee notes are getting soiled very soon. A lot of money is thus lost due to badly mutilated, torn notes, which even some banks refuse to exchange.

In addition these soiled notes carry bacteria and germs that can cause diseases like TB, pneumonia, peptic ulcers and gastroenteritis. Due to our dirty habit of using saliva to wet our fingers while counting a wad of notes, these germs enter our mouth and make some of us with poor immunity ill.

Soiled notes of these low denominations may soon be a thing of past as the Reserve Bank of India (RBI) is planning to introduce Rs 10 plastic currency notes whose life span would be 4-5 times more than the currently issued paper currency notes.

And as a bonus, it would be almost impossible to counterfeit them.

Besides, the new notes could be washed easily and therefore would be cleaner than current paper notes. The Government of India has already introduced a ten rupee coin to supplement the demand for the ten rupee notes.

1 Like

CA. Dashrath Maheshwari (TaXpert) (15065 Points)
Replied 02 June 2010

Gourav Kapoor (CA Final Student) (2977 Points)
Replied 02 June 2010

jus a min !


let me tell you one thing very clearly that if it is punishable to write anything on notes then first of all the bank employees specially cashiers must be trapped because they usually write on notes e.g.  the no. of notes in a bundle and public trust on banks if banks himself will do such punishable acts then nobody can be punished.


i said nothing wrong 

its true in reality

if u dont believe my words then jus go to bank and deposit some amount in your account or encash a self cheque and notice the acts of cashier.

Thanks

CA. Dashrath Maheshwari (TaXpert) (15065 Points)
Replied 02 June 2010

Originally posted by : Gourav

jus a min !

let me tell you one thing very clearly that if it is punishable to write anything on notes then first of all the bank employees specially cashiers must be trapped because they usually write on notes e.g.  the no. of notes in a bundle and public trust on banks if banks himself will do such punishable acts then nobody can be punished.

i said nothing wrong 

its true in reality

if u dont believe my words then jus go to bank and deposit some amount in your account or encash a self cheque and notice the acts of cashier.

Thanks

Gaurav,

You have pinched the right point.. but because of that, we can not deny from our responsibility..

At least CCI members can take a auth to not to write anything of permanent nature on currency note.. (I mean if required, give a try to pencil)

Yours in Service

__DM__

Ashish M (Chartered Accountant) (2726 Points)
Replied 02 June 2010

Bank personnels themselves write on the notes while deposite by the customer...............!!!!!!!!!!!!!!!!

Gourav Kapoor (CA Final Student) (2977 Points)
Replied 03 June 2010

Originally posted by : Dashrath Maheshwari




Originally posted by : Gourav






jus a min !

let me tell you one thing very clearly that if it is punishable to write anything on notes then first of all the bank employees specially cashiers must be trapped because they usually write on notes e.g.  the no. of notes in a bundle and public trust on banks if banks himself will do such punishable acts then nobody can be punished.

i said nothing wrong 

its true in reality

if u dont believe my words then jus go to bank and deposit some amount in your account or encash a self cheque and notice the acts of cashier.

Thanks






Gaurav,

You have pinched the right point.. but because of that, we can not deny from our responsibility..

At least CCI members can take a auth to not to write anything of permanent nature on currency note.. (I mean if required, give a try to pencil)

Yours in Service

__DM__

yes u r ryt !

we cant deny our responsibility 

and i am truly support not to write anything on currency notes

but the point is from where it shud start ?

i think the frst place to start this act is ourselves 

we shud encourage people not to write anything on curency notes in such a  positive way that other can understand our meaning for this ......furthr that other wil encourage others and further and further and one day will come wen all will be in opinion not to write anything on currency notes.......

i am very much positive in this point and i hav already started this procedure.

 

i think these threads on such sites are best way to solve this type of issues.............

so keep commenting here.................. 


(Guest)
Originally posted by : Prasad R

@ Vishnu and Dasrath sir Very good information shared . Thanx a lot.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  





Subscribe to the latest topics :
Search Forum:

Trending Tags