Fema / RBI - Page 30

Demonetisation: 10 Steps to further improve public convenience

PM Modi reviewed position for Second consecutive day yesterday regarding smooth supply and availability of currency notes; Among major decisions taken during Meeting include to continue to give highest importance to ensure convenience for the public;...

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How to put indelible ink on finger of Bank Branch Customer

RBI/2016-17/133 DCM (Plg) No.1280/10.27.00/2016-17 (15/11/2016)

While exchanging the SBNs, the concerned bank branch and post offices would put indelible ink mark on the right index finger of the customer so as to identify that he/she has exchanged the old currency notes only once....

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Banks to use indelible ink to stop multiple withdrawals: DEA

It has come to our notice that some people are coming again & again, banks to use indelible ink to stop multiple withdrawals: DEA secretary...

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Exemption of fee on National Highways extended till 18.11.2016

government extended suspension of fees on all toll plazas on National Highways across the country till the midnight of 18.11.16. Earlier the exemption had been allowed till the midnight of 11.11.16, and then extended till 14.11.16....

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Demonetisation of Old Notes- Recent Decisions for public convenience

The Prime Minister Shri Narendra Modi reviewed the position regarding the supply and availability of currency notes yesterday late evening and took certain decisions to further activate the dispensing of cash through the networks of Banking Correspondents (BCs), Post Offices, ATMs, Banks and E-payment systems....

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Posted Under: Fema / RBI |

Demonetisation- Ensure Strict Compliance – RBI to Cooperative Banks

Press Release : 2016-2017/1215 (15/11/2016)

There were reports that some cooperative banks were not strictly adhering to the instructions issued in connection with the withdrawal of legal tender status of the existing ₹ 500 and ₹ 1000 bank notes (specified bank notes)....

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DCCB Banks can pay existing customers in cash upto ₹ 24,000 a week

RBI/2016-17/130 DCM (Plg) No.1273/10.27.00/2016-17 (14/11/2016)

It is clarified that District Central Cooperative Banks can allow their existing customers to withdraw money from their accounts upto ₹ 24,000/- per week upto November 24, 2016. ...

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Cash withdrawal limit for Current Accounts Rs. 50000- Separate Slips- More ATMs

RBI/2016-17/131 DCM (Plg) No. 1274/10.27.00/2016-17 (14/11/2016)

The current account holders (applicable to Current Accounts which are operational for last three months or more) are allowed to withdraw up to ₹ 50000 in a week. Such tenders will be disbursed predominantly in ₹ 2000 denomination only....

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No charges on use of ATM between 10.11.2016 to 30.12.2016

RBI/2016-17/132 DPSS.CO.PD.No.1240/02.10.004/2016-2017 (14/11/2016)

Banks shall waive levy of ATM charges for all transactions (inclusive of both financial and non-financial transactions) by savings bank customers done at their own banks’ ATMs as well as at other banks’ ATMs, irrespective of the number of transactions during the month....

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No Change in ATM Cash withdrawal Limit from 19.11.2016

S.O. 3449(E) (14/11/2016)

Government has vide notification No. S.O. 3407(E) dated the 8th November, 2016 specified that cash withdrawal limit from Automatic Teller Machines shall be raised to Rs.4,000 per day per card from 19th November, 2016 ...

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Latest RBI / FEMA News

Check out all the latest news on RBI together with all the important RBI notifications, RBI circulars, RBI rates including top stories on FEMA Act and FEMA Regulations only at Taxguru.com

The RBI (Reserve Bank of India) is India’s Apex bank which governs the banking regulations in the country and controls all the monetary policies of the country. It began its operations 1st of April 1935 at the time of British Rule as per the provisions laid down in the Reserve Bank of India Act, 1934. After India’s independence on 15th August 1947, the Reserve Bank of India was nationalized on 1st January 1949.

Reserve Bank of India is an independent monetary authority that regulates banks and offers important financial services such as controlling inflation, maintaining foreign exchange reserves, and providing monetary policy report. It plays a significant role in developing strategies of the Indian Government.

The FEMA Act (Foreign Exchange Management Act) is an Act constituted by the Indian Parliament for consolidating and amending the law related to foreign exchange for facilitating the external trade and payments and also for encouraging orderly maintenance and development of foreign exchange market in the country. This act was passed in the year 1999 during the winter session which replaced the previous Foreign Exchange Regulation Act (FERA). The FEMA Regulations makes offenses with respect to foreign exchange civil offenses.This Act extends and is applicable for the entire nation. FEMA Act allowed a new regime for foreign exchange management that is consistent with the World Trade Organization’s emerging framework.

At Taxguru, we provide you with all the RBI latest news, RBI circulars, RBI notifications and all the updates with respect to FEMA Act and FEMA regulations. We keep you posted with all the latest updates on RBI rates and RBI rate charts. At Taxguru, our team ensures we publish all the latest RBI news. Bookmark us to get all the latest news on RBI and FEMA.

 

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