Top news of the day: RBI to withdraw ₹2000 notes from circulation; Supreme Court-appointed expert panel says SEBI probe into Adani row drew a blank, and more
The Hindu
Top news updates from The Hindu on May 19, 2023
RBI decides to withdraw ₹2,000 note from circulation
The RBI, on May 19, decided to withdraw ₹2,000 note from circulation, however, the banknotes will continue to be a legal tender. The RBI added that members of the public may deposit ₹2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch. Deposit into bank accounts can be made in the usual manner, that is, without restrictions and subject to extant instructions and other applicable statutory provisions. Exchange facility for the ₹2,000 notes up to ₹20,000 at a time would be available from May 23, 2023, and will continue till September 30, the central bank said. The RBI has advised banks to stop issuing ₹2000 denomination banknotes with immediate effect.
SEBI probe into Adani drew a blank: Supreme Court-appointed panel
A six-member expert committee — constituted by the Supreme Court in the Hindenburg-Adani allegations case and headed by former Supreme Court judge, Justice A.M. Sapre — said that the Securities Exchange Board of India (SEBI) has “drawn a blank” and is in a “chicken-and-egg situation” in its investigation into the “ownership” of 13 overseas entities, including 12 Foreign Portfolio Investors (FPIs). The 173-page report said, “SEBI has found 42 contributories to the assets under management of the 13 overseas entities. Various avenues have been pursued - including ED, CBDT and various market regulators in the seven jurisdictions where the contributories are situated. SEBI has drawn a blank”.
Supreme Court defers scientific survey to determine age of ‘shivling’ found at Gyanvapi mosque
The Supreme Court on May 19 deferred the implementation of a direction given by the Allahabad High Court on May 12 to conduct carbon dating and scientific survey of the “shivling” allegedly found in the Gyanvapi mosque premises in Varanasi. A three-judge Bench headed by Chief Justice of India DY Chandrachud said the “implications of the May 12 order would require closer scrutiny”. The carbon dating and scientific survey of the disputed structure was supposed to be held on May 22. The apex court ordered the exercise to be put on hold till the next date of hearing before it.
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