September 19th, 2006
Forged notes detection ~ Indian Currency
Guidelines and How to : (RBI Site)
What is the Indian currency called?
The Indian currency is called the Indian Rupee (INR) and the coins are called paise. One Rupee consists of 100 paise.
What are the present denominations of bank notes in India?
At present, notes in India are issued in the denomination of Rs.5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000. These notes are called bank notes as they are issued by the Reserve Bank of India (Reserve Bank). The printing of notes in the denominations of Re.1 and Rs.2 has been discontinued as these denominations have been coinised. However, such notes issued earlier are still in circulation. The printing of notes in the denomination of Rs.5 had also been discontinued; however, it has been decided to reintroduce these notes so as to meet the gap between the demand and supply of coins in this denomination.
What are the present available denominations of coins in India?
Coins in India are available in denominations of 10 paise, 20 paise, 25 paise, 50 paise, one rupee, two rupees and five rupees. Coins up to 50 paise are called ’small coins’ and coins of Rupee one and above are called ‘Rupee Coins’.
Can bank notes and coins be issued only in these denominations?
Not necessarily. The Reserve Bank can also issue notes in the denominations of one thousand rupees, five thousand rupees and ten thousand rupees, or any other denomination that the Central Government may specify. There cannot, though, be notes in denominations higher than ten thousand rupees in terms of the current provisions of the Reserve Bank of India Act, 1934. Coins can be issued up to the denomination of Rs.1000.
Currency Management
What is the role of the Reserve Bank in currency management?
The Reserve Bank manages currency in India. The Government, on the advice of the Reserve Bank, decides on the various denominations. The Reserve Bank also co-ordinates with the Government in the designing of bank notes, including the security features. The Reserve Bank estimates the quantity of notes that are likely to be needed denomination-wise and places the indent with the various presses through the Government of India. The notes received from the presses are issued and a reserve stock maintained. Notes received from banks and currency chests are examined. Notes fit for circulation are reissued and the others (soiled and mutilated) are destroyed so as to maintain the quality of notes in circulation. The Reserve Bank derives its role in currency management on the basis of the Reserve Bank of India Act, 1934.
What is the role of Government of India?
The responsibility for coinage vests with Government of India on the basis of the Coinage Act, 1906 as amended from time to time. The designing and minting of coins in various denominations is also attended to by the Government of India.
Who decides on the volume and value of bank notes to be printed and on what basis?
The Reserve Bank decides upon the volume and value of bank notes to be printed. The quantum of bank notes that needs to be printed broadly depends on the annual increase in bank notes required for circulation purposes, replacement of soiled notes and reserve requirements.
Who decides on the quantity of coins to be minted?
The Government of India decides upon the quantity of coins to be minted.
How does the Reserve Bank estimate the demand for bank notes?
The Reserve Bank estimates the demand for bank notes on the basis of the growth rate of the economy, the replacement demand and reserve requirements by using statistical models.
How does the Reserve Bank reach the currency to people?
The Reserve Bank manages the currency operations through its offices located at Ahmedabad, Bangalore, Bhopal, Bhubaneshwar, Belapur (Navi Mumbai), Kolkata, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Kanpur, Lucknow, Mumbai (Fort), Nagpur, New Delhi, Patna and Thiruvananthapuram. These offices receive fresh notes from the note presses. Similarly, the Reserve Bank offices located at Kolkata, Hyderabad, Mumbai and New Delhi initially receive the coins from the mints. These offices then send them to the other offices of the Reserve Bank. The notes and rupee coins are stocked at the currency chests and small coins at the small coin depots. The bank branches receive the bank notes and coins from the currency chests and small coin depots for further distribution among the public.
What is a currency chest?
To facilitate the distribution of notes and rupee coins, the Reserve Bank has authorised selected branches of banks to establish currency chests. These are actually storehouses where bank notes and rupee coins are stocked on behalf of the Reserve Bank. At present, there are over 4422 currency chests. The currency chest branches are expected to distribute notes and rupee coins to other bank branches in their area of operation.
What is a small coin depot?
Some bank branches are also authorised to establish small coin depots to stock small coins. There are 3784 small coin depots spread throughout the country. The small coin depots also distribute small coins to other bank branches in their area of operation.
What happens when the notes and coins return from circulation?
Notes and coins returned from circulation are deposited at the offices of the Reserve Bank. The Reserve Bank then separates the notes that are fit for reissue and those which are not fit for reissue. The notes which are fit for reissue are sent back in circulation and those which are unfit for reissue are destroyed after processing shredded. The same is the case with coins. The coins withdrawn are sent to the Mints for melting.
From where can the general public obtain bank notes and coins?
Bank notes and coins can be obtained at any of the offices of the Reserve Bank and at all branches of banks maintaining currency chests and small coin depots.
Current Issues
Why are the coins and bank notes in short supply?
This is not entirely correct. It is true that till recently the demand for currency was more than their supply. The primary reason for this is that the Indian society is still predominantly cash-driven. However, at present there are no supply constraints so far as bank notes are concerned. As regards coins, Government of India are taking various steps, including importing rupee coins. The impression of coins being in short supply is also enhanced probably due to people’s preference for notes.
Is there a way to reduce dependence on cash?
Yes, once instruments such as, cheques, credit and debit cards, electronic funds transfer gain popularity, the demand for currency is expected to go down.
Meanwhile, are some steps being taken to increase the supply of bank notes and coins?
Yes, several steps have been taken to augment the supply of bank notes and coins. Some of these are:
The existing note printing presses and the mints owned by the Government are being modernised.
Two new currency printing presses with the state-of-the-art technology have been set up under the aegis of the Bharatiya Reserve Bank Note Mudran Ltd., a wholly owned subsidiary of the Reserve Bank.
To bridge the demand-supply gap, the Government had, as a one-time measure, even imported bank notes.
The production capacity of the four India Government Mints are being augmented.
Government of India has also been importing rupee coins to supplement the supply of coins from the four mints. Till date 2 billion rupee coins have been imported.
Why are Re1, Rs.2 and Rs.5 notes not being printed?
Volume-wise, the share of such small denomination notes in the total notes in circulation was as high as 57 per cent but constituted only 7 per cent in terms of value. The average life of these notes was found to be around a year. The cost of printing and servicing these notes was, thus, not commensurate with their life. Printing of these notes was, therefore, discontinued. These denominations were, therefore, coinised. However, it has been decided that notes in the denomination of Rs.5 be re-introduced so as to meet the gap between the demand and supply of coins in this denomination.
Soiled and Mutilated Notes
What are soiled and mutilated notes?
Soiled notes are notes, which have become dirty and limp due to excessive use. Mutilated notes are notes, which are torn, disfigured, burnt, washed, eaten by white ants, etc. A double numbered note cut into two pieces but on which both the numbers are intact is now being treated as soiled note.
Can such notes be exchanged for value?
Yes. Soiled notes can be tendered at all bank branches for and exchange obtained.
How much value would one get in exchange of soiled or mutilated notes?
Full value is payable against soiled notes. Payment of exchange value of mutilated notes is governed by the Reserve Bank of India (Note Refund) Rules, 1975. These Rules have been framed under Section 28 of the Reserve Bank of India Act, 1934. The public can get value for these notes as laid down in the Rules, after adjudication. Currently, provisions exist for paying either full, half or no value as far as notes in the denomination for Rs.10 and above are concerned; as regards Re.1, Rs.2 & Rs.5, a tenderer can get either full or no value depending upon the condition of the note.
What types of notes are not eligible for payment under the Note Refund Rules?
The following notes are not payable under the Note Refund Rules.
A note which is less than half the area of the full note devoid of the major portion of the number, i.e., the prefix and three digits or four digits of the number in notes up to and inclusive of Rs.5; in respect of notes of Rs.10 and above, where this inadequacy is present at both the numbering panels.
cancelled by any office of the Reserve Bank or against which the value has already been paid- found to be forged, deliberately cut, mutilated or tampered, carrying extrinsic words or visible representation intended to convey or capable of conveying any message of a political character.
What if a note is found to be non-payable?
Non-payable notes are retained by the receiving banks and sent to the Reserve Bank where they are destroyed.
Where are soiled/mutilated notes accepted?
All banks are authorised to accept soiled notes across their counters and pay the exchange value. They are expected to offer this service even to non-customers. All public sector bank branches and currency chest branches of private sector banks are authorised to adjudicate and pay value in respect of mutilated notes, in terms of the Reserve Bank of India (Note Refund) Rules, 1975. The RBI has also authorised all commercial bank branches to treat certain notes in ‘two pieces’ as soiled notes and pay exchange value.
Features of Contemporary Bank Notes
What are the general features of bank notes currently in circulation?
Rs.10, Rs.20, Rs.50 and Rs.100 notes issued earlier and which are still in circulation contain the Ashoka Pillar watermark and Ashoka Pillar effigy. The Rs.500 notes issued earlier i.e. since 1987 bear the Ashoka Pillar watermark and the Mahatma Gandhi portrait. The Reserve Bank is now issuing bank notes in Mahatma Gandhi series. This means that the notes contain Mahatma Gandhi watermark as well as Mahatma Gandhi’s portrait. The Rs.5 notes re-introduced in August 2001 also bear the Ashoka Pillar watermark and Ashoka Pillar effigy. All these notes issued by the Bank are legal tender.
Why was the change brought about?
The central banks the world over bring in some change in the design of their bank notes. This is primarily to make counterfeiting difficult. India also follows the same policy.
Are there any special features introduced in the notes of Mahatma Gandhi series?
The new Mahatma Gandhi series of notes contain several special features vis-à-vis the notes issued earlier. These are:
i) Security thread:
Rs.10, Rs.20 and Rs.50 notes contain a readable but fully embedded security windowed security thread. Rs.100, Rs.500 and Rs.1000 notes contain a readable windowed security thread. This thread is partially exposed and partially embedded. When held against light, this thread can be seen as one continuous line. Other than on Rs.1000 notes, this thread contains the words ‘Bharat’ in the devnagri script and ‘RBI’ appearing alternately. The security thread of the Rs.1000 note contains the inscription ‘Bharat’ in the devnagri script, ‘1000′ and ‘RBI’. Notes issued earlier have a plain, non-readable fully embedded security thread.
ii) Latent Image:
A vertical band behind on the right side of the Mahatma Gandhi’s portrait, which contains a latent image, showing the denominational value 20, 50, 100, 500 or 1000 as the case may be. The value can be seen only when the note is held on the palm and light allowed to fall on it at 45° ; otherwise this feature appears only as a vertical band.
iii) Microletterings:
This feature appears between the vertical band and Mahatma Gandhi portrait. It contains the word ‘RBI’ in Rs.10. Notes of Rs.20 and above also contain the denominational value of the notes. This feature can be seen better under a magnifying glass.
iv) Identification mark:
A special intaglio feature has been introduced on the left of the watermark window on all notes except Rs.10/- note. This feature is in different shapes for various denominations (Rs.20-Vertical Rectangle, Rs.50-Square, Rs.100-Triangle, Rs.500-Circle, Rs.1000-Diamond) and helps the visually impaired to identify the denomination.
v) Intaglio Printing:
The portrait of Mahatma Gandhi, Reserve Bank seal, guarantee and promise clause, Ashoka Pillar Emblem on the left, RBI Governor’s signature are printed in intaglio i.e. in raised prints in Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000 notes.
vi) Fluorescence:
The number panels of the notes are printed in fluorescent ink. The notes also have optical fibres. Both can be seen when the notes are exposed to ultra-violet lamp.
vii) Optically Variable Ink:
The numeral 500 & 1000 on the Rs.500 [revised colour scheme of mild yellow, mauve and brown] and Rs.1000 notes are printed in Optically Variable Ink viz., a colour-shifting ink. The colour of these numerals appear green when the notes are held flat but would change to blue when the notes are held at an angle.
Forgeries
How does one differentiate between a genuine note and a forged note?
The notes on which the above features are not available can be suspected as forged notes and examined minutely.
What are the legal provisions relating to printing and circulation of forged notes?
Printing and circulation of forged notes are offences under Sections 489A to 489E of the Indian Penal Code and are punishable in the courts of law by fine or imprisonment or both, depending on the offence.
Read more : www.rbi.org.in
August 23rd, 2006
Holidays in India, awesome in her size and diversity. This virtual sub-continent, stretches from the lofty Himalyas , a series of 2000km long mountain ranges in the north, to the extensive deserts in the west, the lush evergreen forest in the south to the far-flung sub Himalayan forests in the North East. Containing within it three mighty rivers, the Indus, the Ganga and the Brahmaputra, the immense Indo-Gangetic Plain, the Deccan Plateau and the two major hill chains of the South, the Western Ghats, bordering the southwestern coast from Maharashtra, across Goa and Karnataka into Kerala and the Eastern Ghats on the Coromondal Coast. Finally, the Lakhshadweep Islands in the Arabian Sea and the Andaman and Nicobar Islands in the Bay of Bengal.
India is home to an incredible diversity in peoples, cultures, races, religions, arts, forests, wildlife, trees, plants and minerals. A wonderful holiday experience that fulfills for a very wide range of interests and tourists.
Each state in India has its different holiday attractions. And tourists themselves are fast realising that an Indian Holiday is much more than Goa or the Taj Mahal.
An India holiday does not lend itself to simple generalizations. The history buff who holidays here for the high culture – discovering Delhi, Agra and Jaipur on the Golden Triangle, then moving on to Ajanta and Ellora, maybe the Konark, Jagannath and Puri before culminating his trip in the Temples of South India sees a very different India from the wildlife buff who spends his holidays trekking the tiger in Central India or.. The urge to pack in into ones holiday plans more than just some sedate sightseeing is what has evolved into the exciting genre of “Adventure Holidays”, and here too India has tken the plunge.
Indian Holiday Genres
Heritage Holidays
India with a civilization reaching back to posterity will certainly give the history buff an experience to remember. From the temples in the South, to the palaces, havelis and cenotaphs of Gujarat and Rajasthan, the rock Jain temples of Mount Abu, the moghul monuments at Fatehpur Sikri, the Taj Mahal, to the Tibetan gompas in Ladakh and Sikkim, the cave temples of Ajanta and Ellora, churches of Old Goa, India has it all - a monumental holiday for the heritage holiday enthusiast .
Mountain Holidays
Endowed with the most charismatic mountain range in the world, the Himalayas, India offers mountain thrills that pale any other. Holiday tourists from all over the world seek out their rejuvenating climes to beat the scorching summers. North India of course has a bounty on offer, Dahousie, Shimla, Manali in Himachal Pradesh, Ranikhet, Dehradoon and Mussoorie from Uttaranchal, the delightful former kingdom of Sikkim, crowned by the paradise that is Kashmir and the stark surreal beauty of Ladakh and Leh. But India has many other mountain surprises up her sleeve. Consider the delightful hill stations in Maharashtra, Lonvala, Matheran and Panchgani, or the misty lush hills of the south including Ooty, Kodaikanal and Coorg and of course Mount Abu from Rajasthan – generally considered the desert state and you soon know why India’s mountain holidays are at the top.
Beach Holidays
Say beach, and Goa comes to mind. Without doubt the epitome of beach holidays not just in India but even outside, there are others in the country. Right from popular ones in Kerala and Karnataka and Tamil Nadu, to the comparatively unknown pristine jewels in Orissa and Gujarat, India is definitely the ultimate holiday destination for the incorrigible beach bum.
Wildlife Holidays
A country with an amazing variety and diversity in its flora and fauna, its no surprise that India attracts wildlife buffs from around the world. Many world class National Parks and Wildlife Sanctuaries make India the perfect holiday option for both, the expert and the amateur wildlifer.
Spiritual Holidays
Indians were the original tourists. Consider that the earliest form of seasonal travel was probably in the form of pilgrimages made by Indians to far-flung corners of the country, stoically enduring the hardships as an expression of their staunch religious faiths. Well, they still do. While the hardships are far less, Indians today still travel to these places of spiritual significance during their holidays.
Adventure Holidays
As holiday traveling became increasingly comfort oriented, a new brand of tourist activity grew to cater to those who missed the thrill of trading the unknown. Blessed by a geography India provides one of the best arenas for adventure holidays including mountaineering, rock climbing, hang gliding, parasailing, white water rafting, caving, scuba diving and snorkeling.
July 26th, 2006
If you have selected a suitable affiliate program to join, and you are keen to start earning some affiliate commissions, you will need to know about the key factors to help you succeed.So, what do you need to succeed with your internet marketing affiliate program?
• Dedication. The first thing you will need to succeed with your internet marketing affiliate program is commitment to work hard until you get the profits you want. For you to earn some commission, you will need to invest money, time and effort into the business.
• Patience. This is the hardest trait to have, yet it is the most important. You can not earn commissions overnight with your affiliate program, and you must be patient enough to keep on working consistently, even if you are not making any sales.
• Get your own website and domain name. Having your own website creates the perception that you are serious about your internet marketing affiliate program business, and you have long term commitment to it. A professional website and own domain name appear professional, and you will find it easy to make sales.
• Products, services or business opportunities that are of high quality and reputation. This is very important if you want to make some sales and earn some commission. Make sure that you choose an affiliate program that has products with high demand and easy to sell.
• A website that is well presented and will prompt any visitor to take action and buy! This is an obvious one, yet is sometimes neglected. For you to be successful with your internet marketing affiliate program, your website must clearly present what you are selling. You must make the presentation of your website such that you promote many sales, for example by placing complementary products close together. Use all the techniques you can think of to make help you make as many sales as possible.
• A ‘useful’ website that makes visitors want to visit again. Although the main goal of your site is to make sales; you will also want your site to offer a few other things that will make visitors stay longer and come back again. You could offer some free tips and ideas relating to the products you are selling. The idea is to make any visitor want to ‘bookmark’ your site. Or if they make a purchase the first time they visit; if they found some free helpful hints on your website, they will come back again for another purchase, creating good repeat business for you.
• Have a committed strategy for driving traffic to your web site. It is a very simple fact that more visitors to your site means more sales, which means more checks for you. Have a monthly budget or plan for driving traffic to your site, work on that consistently.
• Customer care and personal testimonials can significantly help you succeed with your internet marketing affiliate program. Have an email system that you check regularly to answer any questions from your potential customers. Instead of just placing your affiliate links, try to have some testimonials that highlight the benefits of the product, service or business opportunity. This will help you make more sales, thus increasing your checks.
• Offer a free e-zine or short course on your website. Some visitors to your website do not make a purchase the first time they visit your site. By offering a free e-zine for your visitors to subscribe to, you are able to keep in constant contact with your potential customers, and over time, they will become your committed clients. Internet marketing affiliate programs need a large customer base to succeed, so you need to capture every potential client.
By following the guideline presented above, you will succeed with your internet marketing affiliate program. You will need to use these strategies so that you increase your sales and earn more sales. Building a huge down-line is important in internet marketing, and having more visitors and more sales or sub-affiliates is important for your business.
Succeeding with your internet marketing affiliate program is easy if you follow the key recommendations that can guarantee your success, and avoid the common mistakes which affiliates make.
Collected from the internet.
July 26th, 2006
The ones who have been there and done it have quite some useful tips to help those who would want to venture into this field. Some of these tips have boosted quite a lot of earnings in the past and is continuously doing so.
Here are some 5 proven ways on how best to improve your Adsense earnings.
1. Concentrating on one format of Adsense ad. The one format that worked well for the majority is the Large Rectangle (336X280). This same format have the tendency to result in higher CTR, or the click-through rates. Why choose this format out of the many you can use? Basically because the ads will look like normal web links, and people, being used to clicking on them, click these types of links. They may or may not know they are clicking on your Adsense but as long as there are clicks, then it will all be for your advantage.
2. Create a custom palette for your ads. Choose a color that will go well with the background of your site. If your site has a white background, try to use white as the color of your ad border and background. The idea to patterning the colors is to make the Adsense look like it is part of the web pages. Again, This will result to more clicks from people visiting your site.
3. Remove the Adsense from the bottom pages of your site and put them at the top. Do not try to hide your Adsense. Put them in the place where people can see them quickly. You will be amazed how the difference between Adsense locations can make when you see your earnings.
4. Maintain links to relevant websites. If you think some sites are better off than the others, put your ads there and try to maintaining and managing them. If there is already lots of Adsense put into that certain site, put yours on top of all of them. That way visitor will see your ads first upon browsing into that site.
5. Try to automate the insertion of your Adsense code into the webpages using SSI (or server side included). Ask your web administrator if your server supports SSI or not. How do you do it? Just save your Adsense code in a text file, save it as “adsense text”, and upload it to the root directory of the web server. Then using SSI, call the code on other pages. This tip is a time saver especially for those who are using automatic page generators to generate pages on their website.
These are some of the tips that have worked well for some who want to generate hundreds and even thousands on their websites. It is important to know though that ads are displayed because it fits the interest of the people viewing them. So focusing on a specific topic should be your primary purpose because the displays will be especially targeted on a topic that persons will be viewing already.
Note also that there are many other Adsense sharing the same topic as you. It is best to think of making a good ad that will be somewhat different and unique than the ones already done. Every clickthrough that visitors make is a point for you so make every click count by making your Adsense something that people will definitely click on.
Tips given by those who have boosted their earnings are just guidelines they want to share with others. If they have somehow worked wonders to some, maybe it can work wonders for you too. Try them out into your ads and see the result it will bring. If others have done it, there is nothing wrong trying it out for yourself.
Collected from the internet.
