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Fake currency notes worth Rs 1 crore deposited in RBI

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Fake currency notes worth Rs one crore have been deposited in various banks which then deposited the same in the Reserve Bank of India.

The assistant manager of Reserve Bank of India in Lucknow’s Metropolitan Kotwali has filed a complaint after fake notes worth Rs one crore were deposited in several banks between 2017 and 2018.

Assistant manager Ranjana Maravi said that 15,436 fake notes were deposited in the currency chest of the Reserve Bank of India between October 2017 and March 2018.

During the investigation, 9,753 notes of Rs 500 and 5,783 notes of Rs 1,000 were found to be fake. The total fake notes recovered is close to Rs 1.05 crore.

Fake currency notes worth Rs 1 crore deposited in RBI
DRDO develops devices to sanitise phones, currency notes
Ranjana Maravi has also asked the metropolitan police to conduct a forensic examination of the seized notes.

Inspector Mahanagar Yashkant Singh said a case has been registered on the complaint of Ranjana Maravi, and an investigation was underway.

Automobile

Electric vehicle versus Fuel vehicle: Which is more affordable and cheap

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The electric vehicle industry is booming, but the biggest drawback for the consumer is that they are priced much higher than the traditional fuel vehicles. However, at a time when filling-up a full tank of petrol scooters and motorcycles is fast becoming a dream for many, the alternative to it — electric two-wheelers — seems to offer better running price realisation in the long term.

According to investment bank and financial services firm Morgan Stanley, battery-powered two-wheelers are cheaper to own and run than petrol and diesel equivalents. The running cost of electric vehicles is nearly 5% lower annually compared to a gasoline petrol vehicle, the report showed.

The maths of cheaper electric vehicles

The petrol and diesel prices across the country continued their northward march taking its retail rates to unprecedented levels and burning bigger holes in the consumer’s pockets. The electric vehicle as an option weighs heavy.

Although the fact that EVs are priced significantly higher than the vehicles running on fuel have kept people away from them. But once the infrastructure is in place, the cost really comes down to the electricity unit price, which is much lower than the fuel rates. No matter what the price of crude oil is around the world, in India, the average fuel rates have always remained at ₹70 and ₹80 per litre for diesel and petrol, respectively.

Under the bare minimum conditions, the math becomes even clearer — unit price of electricity multiplied by battery size is equivalent to the cost of running an EV. This also eradicates high fuel costs and provides cheaper maintenance and tax. Electric vehicles also hold their value for longer compared to fuel vehicles, according to a Europe based firm study.

 

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