Demonetization - Page 30

Suspension of Parking Charges at Airports extended till 28.11.16

Ministry of Civil Aviation has decided to extend the suspension of collection of parking charges at all airports till midnight of 28 November 2016. This has been done in order to facilitate the smooth movement of passengers....

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Posted Under: Corporate Law |

Demonetisation- Special measures to incentivise e-Payments

RBI/2016-17/150 DPSS.CO.PD.No.1288/02.14.006/2016-17 (22/11/2016)

Measures to incentivise Electronic Payments – (i) Enhancement in issuance limits for Pre-Paid Payment Instruments(ii) Special measures for merchants...

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Relaxation in conditions of cash withdrawal for wedding Celebration

RBI/2016-17/149 DCM (Plg) No.1346/10.27.00/2016-17 (22/11/2016)

#Demonetisation- Wedding Celebrations- A detailed list of persons to whom the cash withdrawn is proposed to be paid, together with a declaration from such persons that they do not have a bank account, where the amount proposed to be paid is ₹ 10,000/- or more. The list should indicate the purpose for which the proposed payments are bein...

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Ensure Adequate cash supply during Rabi Crop Season: RBI

RBI/2016-17/148 DCM (Plg) No.1345/10.27.00/2016-17 (22/11/2016)

#Demonetisation It is estimated that about ₹ 35,000/- crore would be required by the DCCBs for sanction and disbursement of crop loans to the farmers at the rate of ₹ 10,000/- crore per week. ...

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Watch Fraudulent Act of note exchange by Bank officials: RBI

RBI/2016-17/147 DCM (Plg) No.1341/10.27.00/2016-17 (22/11/2016)

#Demonetisation Few bank branch officials, in connivance with some miscreants, are indulging in fraudulent practices while exchanging SBNs in cash / accepting SBN deposits into account....

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Demonetisation- RBI cautions public on Bank Account misuse

Press Release : 2016-2017/1283 (22/11/2016)

It is reported that certain gullible persons are exchanging demonetised notes of Rs. 500 and Rs. 1000 on behalf of other and some are even helping them by depositing the hoarded cash into their own bank accounts...

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Demonetisation- RBI increases Prepaid Instrument Limit to Rs. 20000

Press Release : 2016-2017/1282 (22/11/2016)

PPIs issuers can issue PPIs to such merchants. While balance in such PPIs cannot exceed ₹ 20,000/- at any point of time, the merchants can transfer funds from such PPIs to their own linked bank accounts upto ₹ 50,000/- per month...

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Demonetised notes cannot be deposited in Small Saving Schemes

F.No. 1/04/2016-NS (22/11/2016)

Subscribers of small scheme may not be allowed to deposit old demonetised currency notes of Rs. 500 and Rs. 1000, in Small Saving Schemes....

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Master stroke on black money to make India Swachch Bharat

The mid night scrapping of Rs 500 and Rs 1000 currency notes , as announced by Prime Minister Shri Narendra Modi in his address to the nation on November 8, is being seen as a master stroke against black money and corruption that has been eating into the Indian economy like a termite for several decades....

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Posted Under: Corporate Law |

Currency Demonetisation- Boon for Real Estate and Housing

The Modi government's surgical strike against black money by way of demonetisation of high value currency notes, is set to shake up the real estate sector, marked by transactions involving unaccounted money....

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Posted Under: Corporate Law |
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