A2Z

  Large note circulation in the economy has further declined. As of March this year, the number of Rs 2,000 notes in circulation had dropped to 214 crores. At that time, the share of 2,000 rupee of Indian currency in all denomination notes in the market had fallen to 1.6 percent. The following are some highlights of the RBI report on the circulation of the 2000 currency note: By March 2021, the total number of denomination notes in circulation in the system was 12,437 crore, up from 13,053 crores by March 2022. As of March 2020, 274 crore Rs 2,000 notes were in circulation. They accounted for 2.4 percent of all denomination notes in circulation at the time. As of March 2021, Rs 245 crore 2,000 notes were in circulation, accounting for 2 percent of the total currency. The share of Rs 2,000 notes in the total value of all denomination notes fell from 22.6 percent by March 2020 to 17.3 percent by March 2021 and 13.8 percent by March 2022. As of March last year, Rs 500 notes worth Rs 3...

The economic crisis in the island nation Sri Lanka turns out to be the worst with each passing day. It will become an uphill task for newly appointed Prime Minister Ranil Wickremesinghe to handle the situation. The country is depending on bridge finance from World Financial Institutions for providing necessities to the people. It is shocking to hear the news that Sri Lankan government failed to conduct annual economic examinations due to a scarcity of paper. Adding to fuel to the fire, Sri Lanka has no Dollars to pay for Petrol shipments amid the ongoing economic crisis. Sri Lanka has no money to import goods. People are in queue for petrol from morning on every day. Sri Lanka's Power and Energy Minister appealed to people to stop queuing for the next two days, telling parliament that Sri Lanka currently has no dollars to pay for petrol shipments. Last month, World Bank offers a $160 million short-term loan to Sri Lanka with a condition of repayment within 30 days. Now, 30 days gra...

It’s good news for Indians in the US. There is no need to wait years for a green card anymore. The process of issuing a green card required for permanent residence will soon be expedited. Policy changes will be made to ensure that the entire process is completed within six months from the date of application. This is good news for foreigners looking for permanent residence in America, especially expatriate Indians. The proposal was unanimously approved by the 25-member US Presidential Advisory Council. If President Joe Biden also approves the proposals, the green card issuance process will accelerate. It said that necessary steps should be taken to reduce delays in the examination, interview, and issuance of green card applications. The National Visa Center (NVC) has been instructed to expedite the interview process by increasing the number of staff as required by next August. It also proposes to complete the work on work permits, travel documents, and temporary status extensions/amend...