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High-value notes worth Rs 2.46 lakh cr not released: SBI

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Mumbai, Dec 20 (IANS) The Reserve Bank of India (RBI) had printed high denomination notes worth Rs 15,78,700 crore as on December 8, of which Rs 2,46,300 crore has not been supplied to the market, state-run State Bank of India (SBI) said on Wednesday.

Based on the government and RBI data, the SBI, in a research note titled “Are Rs 2,000 high denomination notes being held back?”, said that deducting the small denomination notes in circulation on December 8 this year, printed high-value currency worth Rs 2,46,300 crore had not been released in the market.

“As per the information given by the Ministry of Finance in the Lok Sabha, the RBI has printed 16,957 million pieces of Rs 500 notes and 3,654 million pieces of Rs 2,000 notes as on December 8. Total value of such notes translates into Rs 15,787 billion,” said the SBI Ecoflash report authored by Chief Economic Adviser (CEA) Soumya Kanti Ghosh.

As per the RBI data, that the value of small denomination currency in circulation upto March 2017 was Rs 3,50,100 crore.

“This implies that the value of high denomination notes was equivalent to Rs 13,324 billion as on December 8 after we net out the small denomination notes from the currency in circulation on that day,” the SBI said.

“This means that the residual amount of high currency notes (Rs 15,787 billion-Rs 13,324 billion) of Rs 2,463 billion may have been printed by the RBI but not supplied in the market,” the report said.

“As a logical corollary, as 2,000 denomination currency (following demonetisation) led to challenges in transactions, it thus indeed seems that RBI may have either consciously stopped printing the 2,000 denomination notes or printing in smaller numbers,” it added.

The report concluded that the share of small currency notes in total currency in circulation at present may have touched 35 per cent in value terms.

–IANS
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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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