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Demonetisation of Rs. 500 and Rs. 1000 notes: RBI explains

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From midnight of November 8, 2016, Rs. 500 and Rs.1000 will cease to be legal tender. “These notes are just papers from tomorrow,” says the prime minister.

Taking the nation by surprise, Prime Minister Narendra Modi on Tuesday night announced demonetization of Rs. 1000 and Rs. 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency, and corruption.

In his first televised address to the nation, Mr. Modi said people holding notes of Rs. 500 and Rs. 1000 can deposit the same in their bank and post office accounts from November 10 till December 30.

Latest updates:

9:50 pm:Tomorrow Banks will be closed for withdrawing these notes from counters & ATMs, says Arundhati Bhattacharya

9:45 pm: We will work round the clock to ensure that customers have a smooth experience says SBI chairman Arundhati Bhattacharya. We will strive to restock ATMs at the earliest and make them operational, says SBI chairman Arundhati Bhattacharya

9:40 pm: We have just now been advised of the Govt’s move to demonetise current series of Rs1000 &500 says Arundhati Bhattacharya

9:38 pm: There is no restriction of depositing your legal Rs. 500, Rs. 1000 notes for exchange. Any amount, as long as it is legal, can be exchanged.

9:37 pm: No security breach has been reported. New notes will be Braille compliant, says DEA secretary

9:36 pm: Within this period, cheques, debit cards, e-transactions will continue. All electronic transactions on account of business firms, companies and individuals will continue in the new two days: DEA secretary

9:36 pm: The decision to withdraw existing 500/1000 denomination currency notes has surprised everyone says DEA secretary

9:35 pm: Post offices, banks to open additional counters and extend working hours to accommodate the public.

9:34 pm: Initially, there could be inconvenience. The supply of new notes will be increased. First aspect to be considered is inflation. RBI will monitor and regulate the printing and circulation of Rs. 2000 notes.

9:33 pm: The notes that are being circulated in social media are true. Not sure how the notes look got leaked, but sure that people will cooperate with the govt. in this venture.

9:32 pm: FIU of India get info about transactions from banks. During this period, banks will take extra precaution. Banks will share info with Income Tax dept. as deemed fit.

9:32 pm: If it is declared as not legal tender, then any transactions are done at their own risk, says Shaktikanta Das

9:30 pm: Measure necessary to maintain economic integrity of economy, says Shaktikanta Das. It will be positive for our economy and will add to the growth of our economy.

9:25 pm: RBI shows the specimen notes of new Rs. 500 and Rs. 2000 notes.

9:22 pm: Banks will have video cameras for all transactions, people must be careful while exchanging legal cash, says Shaktikanta Das

9:21 pm: Control rooms formed in RBI in Mumbai – 022 22602201, 22602944 will be operable from tomorrow morning 8 am, says Shaktikanta Das

9:20 pm: Fake currencies circulation have grown over the years. We are launching new currency notes with new designs from November 10. Introducing 200 rupee note with Mangalyan logo, says Shaktikanta Das

9:15 pm: It is a bold move. Counterfeit currencies are being used for financing terrorism. Our security measures have not been breached,. This is a powerful measure to combat terrorism. Govt. has taken many measures in last two years. This will go a long way. Fake currencies corrode economy, says Economic Affairs Secretary Shaktikanta Das

9:10 pm: RBI has been concerned about black money issue: Urijit Patel

8.53 pm: Government hospitals, pharmacies at such hospitals will accept Rs. 500 and Rs. 1000 notes for 72 hours from November 8 midnight.

8:34 pm: This is a chance for every citizen to take part in the fight against black money and corruption, says the prime minister.

8:32 pm: A new series of Rs. 500 currency notes and Rs. 2000 currency notes will be brought into circulation.

8:31 pm: Banks will be closed on November 9.

8:30 pm: There is no restrictions on internet banking, cash, demand draft transactions.

8:27 pm: Rs 10,000 daily cash withdrawal and Rs 20,000 weekly cash withdrawal limit

8:25 pm: There are, however, some exemptions. Government hospitals and international airports.

8:22 pm: The ATMs will not function till November 9, and in some places till November 10.

8:21 pm: People who possess Rs.500 or Rs. 1000 currency notes after December 30 can exchange it at Reserve Bank of India by providing a declaration. This is until March 31, 2017.

8:20 pm: These notes should be exchanged in banks and head post offices and sub-post office within December 30, 2016, by providing a valid identity proof such as Aadhaar, PAN card or voter ID card.

8:15 pm: From midnight of November 8, 2016, Rs. 500 and Rs.1000 will cease to be legal tender. “These notes are just papers from tomorrow,” says the prime minister.

8:11 pm: Prime Minister says Rs. 500 and Rs.1000 are notes are mostly used in black money.

8:10 pm: Corruption, black money and terrorism can come in the way of a country’s robust economic growth, says the Prime Minister.

8:07 pm: He moves on from corruption to terrorism. He tells “terrorists from across the border” are spreading counterfeit currency notes.

8:06 pm: We hear stories of how autorickshaw driver returns gold left by a passenger in his vehicle. These stories tell how common people are honest. It is only a few people engage in corruption for selfish reasons, he says.

8:05 pm: Corruption and black money are the biggest hindrances in the fight against poverty, he says adding that it is everyone’s responsibility to eradicate poverty.

8:04 pm: Mr. Modi lists out the various schemes launched by NDA government in his address to the nation. He mentions the Jan Dhan Yojana.

8:03 pm: This govt is dedicated to the poor, and will continue to do so, says the Prime Minister who completes two-and-a-half years of rule today.

8:02 pm: India has registered itself as a bright spot, and its not that this is a claim made by us, but by IMF and World Bank

8:01 pm: When we were elected in 2014, there was a discussion that among BRICS nations, the ‘I’ was wobbling, says the PM.

8:00 pm: The Prime Minister’s address to the nation has begun.

Currently Situation in Chandigarh as soon as the news came on television:

Punjab National Bank Sector 17  Chandigarh

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State Bank Of India Sector 17 Chandigarh

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Video Of Prime Minister about the News

Article Source: The HINDU

Posted By Aryavart Corporation International

Planning to Join Merchant Navy? Read This By Aryavart Corporation International

All the youngsters who don’t want to opt for a 9-5 job, sitting behind a desk for the rest of their lives aspire for a career that shapes their future in a different mold. One of these unique career opportunities is to enroll with the Merchant Navy. Aryavart Corporation International is here to help you to plan your prospects in the merchant navy better. Planning to join merchant navy?

Having said that, you must keep in mind that there are certain points that you really need to remember. To be completely honest, it is not a job for the faint hearted.

So without further ado, let’s take a look at things you need to consider. Read along, this is going to be a good read…

Right Qualification
O yes, here comes the first point. Qualification! If you are among those who are opting for this career so that you don’t have to study much, see you when we get back to the shore.
Merchant navy is not everyone’s cup of tea. You will need the right kind of skills to be able to enroll in this field. Different countries have different set of qualifications and academic rules, so choose your institute carefully.

Right Job
Yes, we are talking about the Human Resource concept here, to get the right person for the right job. All the departments of deployed on a ship must work like cogs of a wheel to make sure the times ahead are a smooth sailing. Yes, there will be individualism, and yes, you may witness various challenges along the way. But first of all, you should be fully aware of your capabilities. Knowing what you can’t do is as important as knowing what you can.

Fitness and Health
The third most important factor when a company is looking for candidates is their health and fitness. Unhealthy or unfit officers are not a concern for themselves alone; they become the concern of the whole crew! When you are sailing across the bosom of vast oceans, your crew is your family. And just like any complex machinery, all the people need to work in tandem with each other. If one falls short, the other one needs to buckle up! But you can’t just be out there if you are not fit enough. The weather is unpredictable, and conditions harsh.

Say Goodbye to Social Life
As long as you are on the ship, it’s just you and your crew. Until your ship reaches a shore, you won’t get to hang-out with people and socialize. If you are among those who are always looking for an opportunity to become a part of a party, merchant navy isn’t for you. No matter how hard it may sound, but that’s the truth.

Above all, says the Director of the Aryavart Corporation International, what matters the most is to have a clean record. If you have a criminal record of any sort, you won’t be hired by any company. And they take their background verification very seriously, and carry it out with epitomic  diligence.

Enjoy the vitality of shipping career: Aryavart Corporation International

Aryavart Corporation International is proud to be one of the pioneer Institute provide Internationally.

Nowadays, career in shipping industries become rewarding job and profitable business. Many young people or called seaman try to apply career in the shipping industry includes; cruise job, loading job, freight job, forwarder and merchant navy. His business has manpower to determine and calculate all freight quotes, so you can imagine how crucial this shipping job in the global economy. People who work in this business can explore different part of shipping description as marine job. His marine job is high paid career but people who work in this field should have high commitment, spirit and skill to operate all shipping job run smoothly.

His day, the ocean is more than maritime-highway rather than expansion. Most marine security is employed by regulator for merchandise protection with freight-quote. Safety pre-caution is invited by shipping management company due cargo movement both chemical container and oil container move across to various nation. It is important for shipping quote protection. Many nations ensure safety of shipping quote in high expenses include re-development. It is important for brotherhood between mariner and water ship connection.

In many cargos shipping often require specific job for remote location and complete all shipping operation. In this field, marine engineer should be working in efficient. In many seaman jobs, it is important for marine worker to not fall in the wrong position. Working in the international shipping company can be comfort and suitable for each employer interest and skill. Choosing career in the shipping job is a dream for many workers who want get high paid salaries and get traveling aboard while working on the ship. In order to get high qualification for every job position at the shipping company, it is require high education in merchant navy field and have qualified STCW certificate as professional and skilled seaman. Aryavart corporation International merchant institute is the perfect place to get high education and STCW certificate qualification before you apply job on the ship.

Various company who employ you as naval architect : Aryavart Corporation International

aryavart-corporation-internationalIt is important to know that naval architect as well as ship engineer work to build design of the ship and its construction. Naval architect is also work as ship yards and rigs on the ship structure. There are several company who employ naval architect such as; ferry company, sea cat, fat ship, submarine, working ship, rescue boat, private boat, fishing boat, tanker ship, warship, yacht and merchant ship. Usually navy architect is a team project manager including ship engineers who work and responsible to build ship design and ship safety regulation. They should work to calculate and identify all ship construction include durability, strength and life saving of ship design. Naval architect should upgrade all work with newest research and all information can be provided by research department.

Naval architect can work in various consultant and act for all ship design queries depend on their client demand both commercial and technical issue. Naval architect might oversee for newest brand of design of ship and provide the best solution for all ship troubleshooting error. They have to train and help all ship crew in technical and safety procedures. Naval architect is high skill specialized in particular to built ship design. Career as naval architect is very good starting salary at £25,000 – £30,000.  Aryavart corporation International merchant navy institute is one of dedicated course to learn and get proper skill and knowledge as naval architect. With qualifies STCW certificate, a naval architect can gain salary at least £75,000 in large ship management company.

Many naval architects join and work in major shipping port in the world and involved in several product testing as well as weather condition. This job requires high degree of seaman from professional and skilled merchant navy course. Naval architect can work in small contract to build private yacht design.

Tips to get the best cruise ship career- Aryavart Corporation International

Aryavart Corporation International provides STCW training for the merchant navy aspirant students

It is important to know that become chief electrician in the cruise job give high responsibility and income package. This job is responsibility for all electrical system maintenance on the cruise ship. A chief electrician has to responsible for electrical system maintenance and electrical troubleshooting. A seaman in this job should desire proper experience, skill and qualification to do all electrical maintenance on the ship. A chief electrician have ti fluent in English speaking, high communication skill, and work with management team to ensure all ship operation run smoothly. Another requirement is all chief electricians have to posses STCW or standard of training, certification and watch keeping certificate from approved Aryavart merchant navy institute.

In order to get career as chief electrician on the cruise ship, candidate should have great experience at least 2-5 years on the board. Candidate is also should posses diploma education from merchant navy training school. Candidate is answerable as chief engineer for all ship maintenance and operation linked to electrician system on the ship. He is responsibility for basic qualification and skill as chief electrician on the cruise ship. This job is also requiring subordinate policy and commitment to ensure ship safety environment.  Chief electrician require to work together with chief engineer to control and see all environment system that work and operate/maintain in standard procedure. Different international regulation should meet with this department.

There are many ship management company that looking for and hire skilled personnel for long term contract as qualified seaman. Internet is a great source to find existing job vacancy from various ship companies. There are also a lot of jobs on the cruise ship and get paid high salary for the job that make many people attract to apply for cruise job. Some cruise job needed high skill in communication, entertainer and trainer. It is important to remember that every cruise ship company have different standard qualification, so you should prepare everything for cruise job.

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Merchant navy course for seafaring worker: Aryavart Corporation International

Aryavart Corporation International provides STCW training for the merchant navy aspirant students

When you sailing on the cruise ship, then you will be participated in various situations such as; storm, fire and abandon ship. Working as ship engineer and navigator on the cargo ship will pass numerous of extreme situation where extreme drill comes to be reality. Preparing work for the worst situation at sea is very crucial procedure in all pre sea education for all seamanship. There is mandatory merchant navy course at Aryavart corporation institute that people needed to take, learn and get before graduated and pass qualified sailor.

Here are mandatory course to take;

  • PST – Personal Survival Technique Course

Personal survival technique requires STCW convention for seafaring personnel. This PST course covers basic technique and survival principle and practical that use in emergency situation. It is basic safety course component.

  • MFA – Medical First Aid

MFA course give insight training for seafaring personnel to do and help ship crew get medical care properly. MFA training is basic ship treatment include ship resuscitation and injury seafaring personnel treatment.

  • EFA – Elementary First Aids

It is hard course for smoke chamber that you will fill with heat and smoke. Every seafaring should get in into some house and get out from other side without goggles and breathing apparatus.

  • PSSR – Personnel Safety and Social Responsibility

Personnel Safety and Social Responsibility training is learning about ship safety principle, ship pollution prevention, ship accident prevention and safe practice at sea. People who work on the ship often exposed with hard work and bored environment. PSSR course is dealing with something unpleasant working during work on the ship in day and night shift.

Now, it is very important to have high skill, talent, knowledge and experience to handle all extreme situations during work on the ship. The main goal is make sure all ship operation still run and transport all cargo or passengers into targeted destination on time. For this reason, this job requires professional, talented and skilled personnel to work on the ship both as deck officer or engine officer. Because of this job offer high income per month or per year, many people try to apply and get career as seafaring personnel on the ship. All skill and knowledge as professional seaman is provided by Aryavart corporation International merchant navy institute.  Get it before apply for job application.