Non Functional ATMS to be normalized soon – Finance Ministry Ministry of Finance Government reviews the currency circulation in the country Government and RBI have taken all steps to meet unusual demand of the currency Adequate reserves of currency to meet the rising demands Non Functional ATMS to be normalized soon There are reports of … Read more
Banks to remain open till 8 pm on 31.3.2018 – RBI Circular “All agency banks should keep the counters of their designated branches conducting government banking open for government transactions up to 8.00 p.m. on March 31, 2018” Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the … Read more
RBI reiterates legal tender status of ₹ 10 coins of different designs It has come to the notice of the Reserve Bank that in certain places there is reluctance on part of traders and members of public to accept ₹ 10 coins due to suspicion about their genuineness. It is clarified that the Reserve Bank … 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
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
RBI issues Rs.2000 notes in a new series Now your bank notes in a new design RBI issues Rs.2000 notes in a new series The Reserve Bank of India is introducing new design banknotes in the denomination of Rs.2000 as part of Mahatma Gandhi (New) Series. The new denomination has motif of the Mangalayan on … Read more
RBI issues Rs.500 notes in a new series Now your bank notes in a new design RBI issues Rs.500 notes in a new series The new Rs.500 notes are different form the present series in colour, size, theme, location of security features and design elements. The size of the new notes is 63mm x 150mm. … 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
Levy of charges for non-maintenance of minimum balance in savings bank account shall be subject to the following additional guidelines: (i) In the event of a default in maintenance of minimum balance/average minimum balance as agreed to between the bank and customer, the bank should notify the customer clearly by SMS/ email/ letter etc. that … Read more
Reduction of Other ATM Free Transactions from 5 to 3 Per Month As per the instruction given by the Rerserve Bank of India, the following revised directions with effective from November 01 2014… Taking into account the high density of ATMs, bank branches and alternate modes of payment available to the customers, the number of … Read more