FAQ on Specified Bank Notes – Emergency needs of cash then what I should do? I have emergency needs of cash (hospitalisation, travel, life saving medicines) then what I should do? Till the December 15, 2016, specified banknotes of only 500 denomination can be used as under:— (a) for making payments in Government hospitals for … Read more
Relaxation on withdrawal of cash from bank deposit accounts – RBI Instructions on 28.11.2016 Withdrawal of cash from bank deposit accounts – Relaxation RBI/2016-17/163 DCM.No.1437/10.27.00/2016-17 November 28, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Cooperative Banks/ State Cooperative … Read more
Withdrawal of Cash from Bank account per week – RBI Instructions on 25.11.2016 Withdrawal of cash – Weekly limit RBI/2016-17/158 DCM (Plg) No.1424/10.27.00/2016-16 November 25, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks/ District Central … Read more
OHD Notes Exchange Limit 4500, ATM Withdrawal Limit 2500 and Weekly Limit 24000 Finance Ministry reviews the position regarding availability and distribution of all denomination of bank notes in different parts and regions of the country; Issuance of the new series of Rs. 500/- notes commenced; Instructions issued to the Banks and Post Offices to … Read more
FAQ on Withdrawal of Legal Tender Character of the Old High Denomination Bank Notes FREQUENTLY ASKED QUESTIONS Frequently Asked Questions (FAQs) on Withdrawal of Legal Tender Character of the Old High Denomination Bank Notes 1. Why is this scheme? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the … Read more
Payment of Agency Commission on pension accounts – RBI Circular on 21.1.2016 Reserve Bank Of India RBI/2015-16/294 DGBA.GAD.No.2278/31.12.2010/2015-16 January 21,2016 The Chairman & Managing Director/ The Chief Executive Officer All Agency Banks Dear Sir/Madam Payment of Agency Commission on pension accounts As you may be aware, agency banks are being compensated at Rs.65 per transaction … Read more
RBI denies Message on Currency Notes circulating on Social Media The Reserve Bank of India has today denied having issued a communication circulating on social media alerting members of public that banks will not accept currency notes with scribbling on them from January 1, 2016. The Reserve Bank has reiterated that all currency notes issued … Read more
The Finance Ministry issued orders on holidays for 2nd and 4th Saturday for Public Sector Banks from 1 September 2015 Every 2nd and 4th Saturday of every month as public holiday for banks in India with effect from 1st September, 2015 Ministry of Finance issued orders and necessary gazette notifications regarding declaring every 2nd and … Read more