Forum: Excerpts from readers’ letters
I recently exchanged currency notes at a bank for the Chinese New Year, and as I needed more than the limit allowed, I agreed to fit notes, which are notes deemed clean and suitable for recirculation, including for festive gifting, by the Monetary Authority of Singapore. At least two of the $50 notes looked old and faded. I asked the bank teller how they were considered fit and was told the notes were issued by MAS.
- by autobot
- Feb. 8, 2024
- Source article
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I recently exchanged currency notes at a bank for the Chinese New Year, and as I needed more than the limit allowed, I agreed to fit notes, which are notes deemed clean and suitable for recirculation, including for festive gifting, by the Monetary Authority of Singapore. At least two of the $50 notes looked old and faded. I asked the bank teller how they were considered fit and was told the notes were issued by MAS. I understand the need to be environmentally conscious and reusing notes, but MAS should ensure that fit notes meet certain standards before they are recirculated as fit-for-gifting notes. In the light of the recent focus on the code of conduct for civil servants, it would be good if the Ministry of Education explained its stand on the acceptance of donations, monetary or otherwise, by schools, especially by alumni who hope to get their children into the schools. What are the rules and regulations governing fund-raising activities in schools and should these even be allowed, as they could exacerbate the situation between the haves and have-nots. The recent Assurance Package (AP) Seniors’ Bonus payouts generated mixed feelings among those in my chat group comprising senior citizens. Those living in HDB flats cheered the payouts but not those with one private property, as the annual value of their property meant they would not get more help. They also face higher property taxes. With the cost of living expected to remain high, senior citizens who live on their savings would certainly feel the pinch. O