Thursday, February 9, 2017

What are soiled, mutilated and imperfect banknotes?

Soiled note means a note which, has become dirty due to usage and also includes a two piece note pasted together wherein both the pieces presented belong to the same note, and form the entire note

Mutilated banknote is a banknote, of which a portion is missing or which is composed of more than two pieces.

Imperfect banknote means any banknote, which is wholly or
partially, obliterated, shrunk, washed, altered or indecipherable but does not include a mutilated banknote.

NATIONALISATION OF BANKS 
 Nationalisation of  Imperial Bank of India and its conversion into State Bank of India in July 1955.
Conversion of 8 major State-associated banks into subsidiary banks of SBI in 1959.

 Nationalisation of 14 Indian scheduled banks in July 1969.

 Nationalisation of 6 more banks in April 1980 & Indian bank merged into Punjab National Bank.

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