Connect with us
Thursday,06-November-2025
Breaking News

National News

₹2,000 note exchange to begin today; banks gear up to manage rush

Published

on

Bank branches are gearing up to manage the rush to exchange Rs 2,000 notes from Tuesday. According to estimates by the Reserve Bank currently Rs 3.6 lakh crore of Rs 2,000 notes are in circulation and it expects most of these to be turned in over of next four months.

Preparations by banks

In preparations banks will have dedicated counters for the exchange of the high denomination notes, enough inventory to offer change and people to manage queues, officials told News Agency. Though the banks are not expecting much rush as only 10 per cent of Rs 2,000 notes are in circulation.

The RBI had clarified that the exchange of Rs 2,000 notes will not require any slip or identity proof. However, some banks have said they would only allow the exchange and deposit of the denomination if people show their ID proof.

Banks take precaution against counterfeit currency

According to a report by Banks have also asked the police for help in order to manage queues in case of heavy rush. Additionally, they have also asked people not to deposit or exchange fake notes as a police case would be filed against them.

A report states that branch managers will be making a record of the currency notes exchanged against the depositors information in case the banks need to trail if they end up with counterfeit currency.

Anil Tiwari, a spokesperson from the United Forum Of Bank Unions told that in Uttar Pradesh close to 12,000 bank branches have set up separate counters for the exchange of Rs 2,000 notes. He further added that account holders who have completed their KYC will be able to deposit any number of notes in their account, but Jan Dhan accounts can only exchange notes worth Rs 10,000.

In Lucknow, Rs 2,000 notes worth Rs 90 crore were deposited in banks through cash deposit machines and banks.

Meanwhile HDFC has sent a mail to its customers stating that they can exchange Rs 2,000 notes until the limit of Rs 20,000.

After the announcement from RBI businesses like petrol pumps, food delivery apps and jewellers have received higher amounts of Rs 2,000 notes.

Crime

ED attaches Rs 11.14 crore assets of Suresh Raina and Shikhar Dhawan in 1xBet case

Published

on

New Delhi, Nov 6: The Enforcement Directorate (ED) has provisionally attached movable and immovable assets worth Rs 11.14 crore belonging to former Indian cricketers Suresh Raina and Shikhar Dhawan under the Prevention of Money Laundering Act (PMLA), 2002, in connection with its ongoing probe into the illegal offshore betting platform 1xBet, the agency said on Thursday.

According to the ED, the attachment includes mutual fund investments worth Rs 6.64 crore held in Raina’s name and an immovable property valued at Rs 4.5 crore belonging to Dhawan.

The action stems from multiple FIRs registered by various state police agencies against the operators of 1xBet and its surrogate brands – 1xBat and 1xBat Sporting Lines – accused of promoting and facilitating unlawful online betting and gambling operations across India.

“Investigation revealed that both Suresh Raina and Shikhar Dhawan knowingly entered into endorsement agreements with foreign entities for the promotion of 1xBet through its surrogates,” the ED said in its press note.

“These endorsements were made in return for payments routed through foreign entities to conceal the illicit origin of the funds, which are linked to proceeds of crime generated from illegal betting activities,” it added.

ED officials further found that 1xBet operated without authorisation in India, targeting users through social media, online videos, and print advertisements. To disguise the source of funds, payments were layered through multiple entities and foreign accounts.

During the investigation, the agency uncovered a laundering trail exceeding Rs1,000 crore. It was found that over 6,000 “mule” bank accounts were used to collect money from Indian bettors, routed through several payment gateways.

Many merchants on these platforms were onboarded without proper KYC verification, and their declared business activities did not match transaction patterns.

Searches were conducted at four payment gateways, leading to the seizure of incriminating evidence. Over 60 bank accounts linked to the operation have been frozen, with funds exceeding Rs 4 crore blocked so far.

Issuing a public advisory, the ED urged citizens to refrain from engaging in or promoting online betting and gambling platforms, warning that aiding such activities may lead to prosecution under PMLA, which carries imprisonment of up to seven years and attachment of assets derived from illegal proceeds.

Further investigation into the case is underway.

Continue Reading

National News

Mumbai’s BEST Strike Threatens To Derail Daily Commute: Citizens Fear Rising Costs Of Autos & Taxis

Published

on

Mumbai, November 6: If the proposed BEST union hunger strike goes ahead from November 10, Mumbai’s daily commute could face one of its biggest disruptions in recent years. The city’s red buses, a lifeline for over 25 lakh passengers every day, are at the heart of the union’s protest, which demands an end to the controversial wet lease system, clearance of pending dues, and better upkeep of the public fleet.

Commuters who depend on BEST buses to travel across Mumbai’s major corridors are already worried. Routes linking Dadar, Sion, Andheri, and Borivali, as well as the island city’s inner stretches, are likely to be worst hit, particularly in areas where metro and train connectivity remains limited.

For thousands of middle-class and working families, a sudden halt in bus services could throw daily life into disarray.

“Buses are the most affordable option for working people,” said Preeti Deshmukh, a bank employee from Borivali, who depends on BEST buses for her daily commute. “If services stop, taxis and autos will charge double, and trains are already overcrowded.”

Another commuter, Krupa Soni, who travels regularly from Andheri station, echoed the concern.

“If they go on strike, it will be really difficult for us to get home on time and manage our household work. My son also takes the bus to college. Taking autos or taxis every day will become too expensive for us. The government should act immediately.”

The potential strike highlights how deeply intertwined BEST buses are with Mumbai’s social and economic rhythm. For decades, the red double-deckers and mini buses have connected office workers, students, and vendors, especially those who cannot afford other modes of transport.

If the standoff between the union and civic authorities is not resolved soon, Mumbai could face longer commutes, higher transport costs, and even greater pressure on trains and metros.

For now, commuters can only hope that negotiations will keep the city’s lifeline on the move.

Continue Reading

International News

ECI hosts global delegates during Bihar elections under poll visitors’ initiative

Published

on

New Delhi, Nov 6: As polling for the first phase of the Bihar Assembly elections got underway on Thursday, the Election Commission of India (ECI) on Thursday welcomed 16 delegates from six countries under its International Election Visitors’ Programme (IEVP).

The initiative, aimed at fostering global cooperation and transparency in electoral processes, saw participants from Colombia, Indonesia, Thailand, The Philippines, Belgium, and South Africa witnessing the on-ground arrangements of one of the world’s largest democratic exercises.

“Under the International Election Visitors’ Programme (IEVP) of the ECI, 16 delegates from 6 countries – Colombia, Indonesia, Thailand, Philippines, Belgium, South Africa are witnessing the never before arrangements made by the ECI,” the poll panel said on X.

According to the ECI, the IEVP 2025 began earlier this week at the India International Institute for Democracy and Election Management (IIIDEM) in New Delhi on November 4.

The inaugural session was chaired by Chief Election Commissioner Gyanesh Kumar and Election Commissioner Vivek Joshi, who interacted with the visiting delegates and briefed them about India’s robust electoral framework.

During the Delhi leg, participants were given a detailed presentation on the functioning of Electronic Voting Machines (EVMs), voter roll management, and logistical preparedness.

“IEVP includes a two-day tour of Bihar from November 5-6, 2025 where the participants will visit the EVM dispatch centres and witness the actual polling on November 6, 2025,” the ECI said in its Press note earlier.

The IEVP is a flagship program of the ECI for international cooperation and engagement with the Election Management Bodies (EMBs) of other countries and international organisations.

The IEVP, launched in 2014, serves as the ECI’s flagship platform for international engagement with Election Management Bodies (EMBs) and global democratic institutions. Through this programme, India showcases its electoral best practices and fosters mutual learning with partner nations.

This year’s edition underlines India’s growing role as a leader in electoral management, with the ECI using the Bihar polls as a live demonstration of its operational scale, transparency, and integrity.

Continue Reading

Trending