Money Laundering is the process of transforming the proceeds of crime and corruption and illegal trade practices into ostensibly legitimate assets. However, in a number of legal and regulatory systems, the term money laundering has become conflated with other forms of financial crime, and is … [Read more...]
Changes in NAP norms for small borrowers due to demonetization
RBI/2016-17/198 DBR.No.BP.BC.49/21.04.048/2016-17 December 28, 2016 All Regulated Entities Madam / Dear Sir, Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances Please refer to circular DBR.No.BP.BC.37/21.04.048/2016-17 dated November 21, … [Read more...]
Jan Dhan account holder can withdraw only Rs.10000 in a month – RBI
RBI/2016-17/165 DCM (Plg) No. 1450/10.27.00/2016-17 November 29, 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 Cooperative … [Read more...]
RBI allow withdrawals of deposits made in current legal tender notes on or after November 29, 2016 without any limit
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 Banks/ District Central Cooperative … [Read more...]
Cash Withdrawal weekly limit Rs.24000 remain unchanged till further instruction-RBI Notification
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 Cooperative … [Read more...]
Now it is not allowed to deposit old Currency in Small Savings Schemes -RBI Circular
Deposit of specified banknotes (SBN) in Small Savings Schemes RBI/2016-17/151 DCM (Plg) No.1351/10.27.00/2016-17 November 23, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative … [Read more...]
The Chairman of SIT & Former supreme court Judge recommended for Putting a limit of cash holding and cash transaction
The Chairman, SIT on Black Money & Former Judge of the Supreme Court of India, Justice MB Shah and Former Judge of the Supreme Court of India &Vice- Chairman, SIT on Black Money, Justice Arijit Pasayat has stated that the Government has taken a bold step by demonetizing Rs.500 and Rs.1,000 … [Read more...]
FAQs on Withdrawal of Bank Notes in the denominations of Rs 500 and Rs 1000
1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for antinational and illegal activities. … [Read more...]
Issue of Rs 500 banknotes inset letter ‘E’ in Mahatma Gandhi (New) Series
The Reserve Bank of India will shortly issue Rs.500 denomination banknotes in Mahatma Gandhi (New) Series with inset letter ‘E’ in both the number panels, bearing the signature of Dr. Urjit R. Patel Governor, Reserve Bank of India, the year of printing '2016’ and Swachh Bharat Logo printed on the … [Read more...]
Issue of Rs 2000 Banknotes
The Reserve Bank of India will shortly issue Rs 2000 denomination banknotes in the Mahatma Gandhi (New) Series, without the inset letter, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote. The new … [Read more...]
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