CURRENT UPDATES : 45th CHIEF JUSTICE OF INDIA

JUSTICE DIPAK MISRA SWORN IN AS NEW CHIEF JUSTICE OF INDIA

Shri Justice Dipak Misra was sworn in as the 45th Chief Justice of the Supreme Court of India at a ceremony held today (August 28, 2017) in the Durbar Hall of Rashtrapati Bhavan. He made and subscribed to the oath of office before the President Ram Nath Kovind. He replaced Chief Justice J S Khehar, who retired yesterday.

He is due to retire from Supreme Court on October 2, 2018.

His Lordship was born on 03rd October, 1953. He was enrolled as an Advocate on 14th February, 1977 and Practiced in Constitutional, Civil, Criminal, Revenue, Service and Sales Tax matters in the Orissa High Court and the Service Tribunal. He was appointed as an Additional Judge of the Orissa High Court on 17th January, 1996 and transferred to the Madhya Pradesh High Court on 03rd March, 1997. He became permanent Judge on 19th December, 1997. Justice Misra assumed charge of the office of Chief Justice, Patna High Court on 23rd December, 2009 and charge of the office of the Chief Justice of Delhi High Court on 24th May, 2010. Elevated as a Judge, Supreme Court of India w.e.f. 10.10.2011.

CURRENT UPDATE : RBI INTRODUCES ₹ 200 DENOMINATION BANK NOTE

The Reserve Bank of India will issue on August 25, 2017 ₹ 200 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India from select RBI offices, and some banks. The new denomination has Motif of Sanchi Stupa on the reverse, depicting the country’s cultural heritage. The base colour of the note is Bright Yellow. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.

The image and salient features of ₹ 200 denomination banknotes in the Mahatma Gandhi (New) Series are as under:

Dimension

         Dimension of the banknote will be 66 mm × 146 mm

Obverse (Front)

1.      See through register with denominational numeral 200

2.      Latent image with denominational numeral 200

3.      Denominational numeral २०० in Devnagari

4.      Portrait of Mahatma Gandhi at the centre

5.      Micro letters ‘RBI’, ‘भारत’, ‘India’ and ‘200’

6.      Windowed security thread with inscriptions ‘भारत’ and RBI with colour shift. Colour of the thread changes from green to blue when the note is tilted

7.      Guarantee Clause, Governor’s signature with Promise Clause and RBI emblem towards right of Mahatma Gandhi portrait

8.      Denominational numeral with Rupee Symbol, ₹ 200 in colour changing ink (green to blue) on bottom right

9.      Ashoka Pillar emblem on the right

10.  Mahatma Gandhi portrait and electrotype (200) watermarks

11.  Number panel with numerals growing from small to big on the top left side and bottom right side

12.  For visually impaired
Intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, raised Identification mark H with micro-text ₹ 200, four angular bleed lines with two circles in between the lines both on the right and left sides

Reverse (Back)

1.      Year of printing of the note on the left

2.      Swachh Bharat logo with slogan

3.      Language panel

4.      Motif of Sanchi Stupa

5.      Denominational numeral २०० in Devnagari

CURRENT UPDATES : RBI INTRODUCES ₹ 50 BANKNOTE IN MAHATMA GANDHI (NEW) SERIES

The Reserve Bank of India will shortly issue ₹ 50 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Hampi with Chariot on the reverse, depicting the country’s cultural heritage. The base colour of the note is Fluorescent Blue. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.

All the banknotes in the denomination of ₹ 50/- issued by the Reserve Bank in the earlier series will continue to be legal tender.

Dimension of the banknote will be 66 mm x 135 mm.

Salient Features

Ø  See through register with denominational numeral 50

Ø  Denominational numeral ५० in Devnagari

Ø  Portrait of Mahatma Gandhi at the centre

Ø  Micro letters ‘RBI’, ‘भारत’, ‘INDIA’ and ‘50’

Ø  Windowed demetalised security thread with inscriptions ‘भारत’ and RBI

Ø  Guarantee Clause, Governor’s signature with Promise Clause and RBI emblem towards right of Mahatma Gandhi portrait

Ø  Ashoka Pillar emblem on the right

Ø  Mahatma Gandhi portrait and electrotype (50) watermarks

Ø  Number panel with numerals growing from small to big on the top left side and bottom right side.

Ø  Year of printing of the note on the left

Ø  Swachh Bharat logo with slogan,

Ø  Language panel,

Ø  Motif of Hampi with Chariot,

Ø  Denominational numeral ५० in Devnagari.

HAPPY INDEPENDENCE DAY

CURRENT UPDATE : RBI - THIRD BI-MONTHLY MONETARY POLICY STATEMENT -- 2017-18

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today (02-08-2017), the Monetary Policy Committee (MPC) decided to:

1. Reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect.
2. Consequently, the reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent.

CURRENT RATES
POLICY RATES	BANK RATE	6.25 %
	REPO RATE	6  %
	REVERSE REPO RATE	5.75 %
	MARGINAL STANDING FACILITY RATE	6.25 %
RESERVE RATIO	CRR	4 %
	SLR	20 %
LENDING RATE	BASE RATE	9 – 9.55 %

The next meeting of the MPC is scheduled on October 3 and 4, 2017