note demonetisation

RBI directs banks to submit reports on collection of demonetised notes by Friday night

Income Tax Department officials said they were probing deposits amounting to at least Rs 4 lakh crore into 1.14 lakh bank accounts.

The Reserve Bank of India on Friday directed banks across the country to submit reports with details about the collection of specified bank notes – Rs 500 and Rs 1,000 – by the end of the business day on December 30. The RBI also announced the closure of the deposit and exchange of demonetised notes on December 30.

A statement issued by the central bank said, “All bank branches (other than those of District Central Co-operative Banks) who have accumulated specified bank notes at the close of business on December 30, 2016, are required to deposit the same in any Issue Office of the Reserve Bank or a currency chest on December 31, 2016 itself.” The statement added that the notes cannot be a part of the bank’s balances on or after December 31, 2016.

The apex bank will enable reporting of transactions in Integrated Computerised Currency Operations and Management System after 9 pm to accommodate receipt of all deposits.

Income Tax department officials said at least Rs 4 lakh crore had been deposited into 1.14 lakh bank accounts. These transactions will soon be investigated for violations. “People thought the government will not do anything and kept depositing money. We have been analysing data on a weekly basis and we are going to act against those who have unaccounted money. Obviously, we want everyone to come forward and themselves pay taxes,” The Economic Times quoted an official as saying.

The Income Tax Department is also investigating the 1.77 lakh borrowers’ repayment of loans amounting to Rs 25 lakh in demonetised currency between November 10 and 30.

On November 8, the government had demonetised Rs 500 and Rs 1,000 notes, which made up 86% of India’s currency, saying the move would help smoke out those hoarding black money. It has since said that the decision will also push India towards becoming a cashless economy. The move has been widely criticised by the Opposition and economists, and citizens have faced a massive cash crunch.

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Advice from an ex-robber on how to keep your home safe

Tips on a more hands-on approach of keeping your house secure.

Home, a space that is entirely ours, holds together our entire world. Where our children grow-up, parents grow old and we collect a lifetime of memories, home is a feeling as much as it’s a place. So, what do you do when your home is eyed by miscreants who prowl the neighbourhood night and day, plotting to break in? Here are a few pre-emptive measures you can take to make your home safe from burglars:

1. Get inside the mind of a burglar

Before I break the lock of a home, first I bolt the doors of the neighbouring homes. So that, even if someone hears some noise, they can’t come to help.

— Som Pashar, committed nearly 100 robberies.

Burglars study the neighbourhood to keep a check on the ins and outs of residents and target homes that can be easily accessed. Understanding how the mind of a burglar works might give insights that can be used to ward off such danger. For instance, burglars judge a house by its front doors. A house with a sturdy door, secured by an alarm system or an intimidating lock, doesn’t end up on the burglar’s target list. Upgrade the locks on your doors to the latest technology to leave a strong impression.

Here are the videos of 3 reformed robbers talking about their modus operandi and what discouraged them from robbing a house, to give you some ideas on reinforcing your home.

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2. Survey your house from inside out to scout out weaknesses

Whether it’s a dodgy back door, a misaligned window in your parent’s room or the easily accessible balcony of your kid’s room, identify signs of weakness in your home and fix them. Any sign of neglect can give burglars the idea that the house can be easily robbed because of lax internal security.

3. Think like Kevin McCallister from Home Alone

You don’t need to plant intricate booby traps like the ones in the Home Alone movies, but try to stay one step ahead of thieves. Keep your car keys on your bed-stand in the night so that you can activate the car alarm in case of unwanted visitors. When out on a vacation, convince the burglars that the house is not empty by using smart light bulbs that can be remotely controlled and switched on at night. Make sure that your newspapers don’t pile up in front of the main-door (a clear indication that the house is empty).

4. Protect your home from the outside

Collaborate with your neighbours to increase the lighting around your house and on the street – a well-lit neighbourhood makes it difficult for burglars to get-away, deterring them from targeting the area. Make sure that the police verification of your hired help is done and that he/she is trustworthy.

While many of us take home security for granted, it’s important to be proactive to eliminate even the slight chance of a robbery. As the above videos show, robbers come up with ingenious ways to break in to homes. So, take their advice and invest in a good set of locks to protect your doors. Godrej Locks offer a range of innovative locks that are un-pickable and un-duplicable. To secure your house, see here.

The article was produced by the Scroll marketing team on behalf of Godrej Locks and not by the Scroll editorial team.