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India will stop issuing 2,000-rupee notes.

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2 years ago

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Title: Farewell to the 2,000-Rupee Note: India’s Decision to Cease Issuing High-Denomination Currency

Introduction: India, a country known for its vibrant currency notes, has taken a significant step in its monetary landscape. The Reserve Bank of India (RBI) has made the decision to discontinue the issuance of 2,000-rupee notes, signaling a shift in the nation’s currency strategy. This move aims to address various economic factors and promote a more efficient and secure monetary system. Let’s delve into the implications of India’s decision and explore the reasons behind this significant change.

The Introduction of the 2,000-Rupee Note: In November 2016, the Indian government introduced the 2,000-rupee note as part of a broader initiative to tackle issues of black money, counterfeiting, and corruption. The high-denomination note was meant to facilitate large transactions while being difficult to counterfeit due to its advanced security features. However, the RBI’s recent announcement indicates a reevaluation of this strategy.

Reasons for Discontinuation: Several factors contribute to the discontinuation of the 2,000-rupee note. One primary concern is the potential for its misuse in illicit activities, such as money laundering and hoarding of unaccounted wealth. By eliminating the note, the government aims to curtail these illegal practices and promote a more transparent financial system.

Additionally, the high-value denomination note often faces challenges in day-to-day transactions, especially in rural areas where smaller denominations are more practical. The discontinuation will encourage the use of smaller currency notes, streamlining transactions and reducing inconvenience for the general population.

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Embracing Digital Payments: India has witnessed a significant push towards digital payments in recent years, with initiatives like the Unified Payments Interface (UPI) and digital wallets gaining popularity. By phasing out the 2,000-rupee note, the government aims to further encourage this digital revolution, promoting a cashless economy and facilitating easier and more secure transactions.

Impact on Counterfeiting: The decision to cease issuing 2,000-rupee notes also aims to combat counterfeiting more effectively. With advances in technology, counterfeiters have become more sophisticated, posing a threat to the integrity of the currency. By eliminating the high-value note, which is often a target for counterfeiters, the RBI seeks to enhance the security of India’s currency system.

Public Adaptation and Transition: As the discontinuation of the 2,000-rupee note takes effect, the public will need to adjust their financial habits accordingly. Banks and financial institutions will play a crucial role in facilitating the transition, ensuring the smooth withdrawal and replacement of the note while promoting awareness among customers.

It’s important to note that existing 2,000-rupee notes will remain legal tender and continue to be accepted for transactions. The decision primarily impacts the issuance of new notes.

Conclusion: India’s decision to stop issuing 2,000-rupee notes marks a significant step towards promoting a transparent, efficient, and secure monetary system. By addressing concerns related to black money, counterfeiting, and the promotion of digital payments, the government aims to streamline transactions and reinforce the integrity of the currency. While the discontinuation may require a period of adjustment, it presents an opportunity for India to embrace technological advancements and foster a more inclusive and digitized financial landscape.

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TV

Following reports that MTV closed a comedian’s YouTube channel due to a joke about the show, the hashtag #ShameOnMTVHUSTLE went viral.

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1 day ago

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December 2, 2024

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#ShameOnMTVHUSTLE trends after MTV allegedly shuts down comedian’s YouTube channel over a joke about show

It all started when Rohan Cariappa took to Instagram to share that his YouTube channel was getting shut. The trend emerged on the surface on Monday.

The makers of the music reality show MTV Hustle have found themself in soup with #ShameOnMTVHUSTLE trending on social media. It comes after claims that the channel is putting its force behind shutting down a YouTube channel of a comedian after a joke on the show. Also read: Rapper King says Indians only criticise desi artists: ‘Ghar ki murgi daal barabar…’

Hitting a rough note
The #ShameOnMTVHUSTLE trend surfaced on Monday with several users coming together to support comedian Rohan Cariappa. It all started when Rohan took to his Instagram Stories to claim that his YouTube channel was getting shut.

“50 plus strikes,” he wrote in one story along with a screen recording of the strikes on his videos about the show. In another story, he wrote, “The channel shuts down on the 7th … Killswitch aur Danish ke baad mera bhi elimination ho raha hai (I have been eliminated after Killswitch and Danish).” Danish and Killswitch were contestants of the show.

It is being said that Rohan criticised the show through his videos.

Outrage on social media
After his posts on Instagram, a controversy erupted on social media, with the hashtag #ShameOnMTVHUSTLE gaining momentum. The outrage stemmed from allegations that MTV shut down the YouTube channel of a comedian over a joke made about the show.

Fans and supporters of the comedian have taken to social media to express their discontent, with many calling out MTV for its alleged actions.

“MTV has given more than 50 strikes to Rohan Cariappa’s YouTube channel and his channel is being terminated – just because the makers couldn’t handle some honest criticism! Shame on MTV,” read one tweet, with another writing, “MTV Hustle tried to take down Rohan Cariappa’s YouTube channel. These companies profit from the culture and then start thinking of themselves as superior. Rohan’s contribution to the Desi Hip-Hop is far greater than that of these money makers”.

One user wrote, “Whole dhh community stands with @cariappa_rohan We won’t let that fake show destroy Dhh #shameonmtvhustle”.

One user mentioned, “MTV Hustle is playing cheap games now. They’ve started sending bots. You run a hip-hop show, but you’re doing things that go against the spirit of hip-hop. This will not be tolerated”, with one user mentioning, “@cariappa_rohan’s videos ASAP! #ShameonMTVHustle This is so sad #ShameonMTVHustle They don’t even know how much his channel has contributed to the hip-hop scene in India”.

There was one comment which condemned the gesture of silencing the “criticism by undermining them will only result in more harm for your show”. “The DHH community deserves better, @cariappa_rohan you deserve better. Silent protest,” read the tweet.

“Stupid of these @MTVIndia pple to think they could just suppress anyone says something & they think they can capture the DHH audience this way? Shameful and stupid act,” shared one user.

Another user called out the channel, writing, “I’m a regular Jio cinema/MTV hustle subscriber and viewer, but after seeing them pulling this shit to a content creator I have decided to cancel my subscription, they have proven that they are culture vultures who are only here for profits. MTV Hustle gave a copyright strikes on @cariappa_rohan,This is unacceptable, shameful and against the DHH community”.

About MTV Hustle
MTV Hustle is a reality show focused on Indian rap and hip-hop. In the show, rappers battle it out to win the title. The rap reality show Hustle is back with its 4th season on MTV. Recently, Badshah joined Raftaar and Ikka in an episode as a special guest. Badshah has previously been a judge on Hustle seasons 2 and 3.

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Festival

Learn the date, time, meaning, customs, and mantras to recite on Utpanna Ekadashi in 2024.

Published

1 week ago

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November 26, 2024

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Utpanna Ekadashi 2024: Know date, time, significance, rituals, mantras to chant

Utpanna Ekadashi 2024: From puja vidhi to significance, here’s all that you need to know about this auspicious day

Utpanna Ekadashi 2024: There are 24 Ekadashis observed throughout the year with each Ekadashi having specific significance in Hinduism. It is believed that observing Ekadashi fast can make Lord Vishnu and Goddess Lakshmi happy, and bless the devotees with wealth, longevity and prosperity. Utpanna Ekadashi marks the start of the Ekadashi fasting tradition and is observed with a lot of dedication and devotion. Also read | Ekadashi 2024 full list: Complete list of Ekadashi fasting days for the year

Utpanna Ekadashi 2024: date and time
Utpanna Ekadashi is observed during the Krishna Paksha of the Margashirsha month, and is observed after Devutthana Ekadashi. According to Drik Panchang, Utpanna Ekadashi will be observed on November 26 this year. The Ekadashi Tithi will begin at 1:01 AM on November 26 and will end at 3:47 AM on November 27. Also read | Dev Uthani Ekadashi 2024: Date, shubh muhurat, puja and vrat time, significance, rituals

Utpanna Ekadashi 2024: significance
According to legends, it is believed that Lord Vishnu was in deep meditation when demon Mura came to attack him. At that time, Goddess Ekadashi emerged and vanquished demon Mura and saved Lord Vishnu. Since then, Goddess Ekadashi is worshipped for her valour and bravery. Observing Utpanna Ekadashi fast can bring prosperity and wealth in the lives of the devotees.

Performing charity on this day helps in getting rid of the sins of this life and attain salvation. Observing the Utpanna Ekadashi fast and performing the rituals can bring inner peace and happiness in the hearts of the devotees. Also read | Rama Ekadashi 2024: Correct date is October 28; know Rama Ekadashi vrat rituals, auspicious time, significance

Utpanna Ekadashi 2024: rituals
On this day, devotees wake up early and take a holy bath. Then yellow sweets are prepared as yellow is believed to be Lord Vishnu’s favourite colour. Goddess Lakshmi is also worshipped on this day. It is believed that watering the peepul tree on the auspicious occasion of Utpanna Ekadashi has spiritual significance.

Utpanna Ekadashi 2024: mantras to chant
On Utpanna Ekadashi, Om Namo Bhagavate Vasudevaya and Ekadashi Vrat Katha are chanted to please Lord vishnu and Goddess Lakshmi.

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Business

The PAN 2.0 project has been approved by the centre. What’s new, the main advantages, and all you need to know

Published

1 week ago

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November 26, 2024

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Centre approves PAN 2.0 project: What’s new, top benefits and all you need to know

The PAN 2.0 Project is for digitizing the taxpayer registration system, upgrading the current system, and making PAN as a common identifier

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi announced its approval of the PAN 2.0 Project of the Income Tax Department on Monday, November 25, 2024.

The PAN 2.0 Project is an e-Governance project for digitizing the taxpayer registration system (Digital PAN/TAN services).

The government will be spending a total of ₹1,435 crore for the project, according to its official press statement.

The project also aims to upgrade the current PAN/TAN 1.0 eco-system by consolidating the core and non-core PAN/TAN activities as well as the PAN validation service.

The government also aims to enable the use of PAN as a common identifier for all digital systems of specified government agencies.

“PAN card is part of our life which is important for the middle class and small business, it has been highly upgraded and PAN 2.0 has been approved today,” said Union Minister Ashwini Vaishnaw, talking about the details of the Pan 2.0 project. “The existing system will be upgraded and the digital backbone will be brought in a new way.”

He also highlighted that the government aims to focus on the grievance redressal system, to cater to the queries and the needs of citizens.

Top 4 benefits of the PAN 2.0 Project

i) Ease of access and speedy service delivery with improved quality

ii) Single Source of Truth and data consistency

iii) Eco-friendly processes and cost optimization

iv) Security and optimization of infrastructure for greater agility

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