RBI Circular Notification Press Release and Instructions issued by Reserve bank of India. News and Article on provisions, Rate changes, Policy changes and FAQ
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With a view to ensure compliance with provisions of 114B of the Income Tax Rules, 1962, the banks are advised as under: Anybody depositing more than ₹ 50,000/- in cash in their bank account has to submit a copy of the PAN card in case the bank account is not seeded with PAN
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;
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.
It has come to our notice that some people are coming again & again, banks to use indelible ink to stop multiple withdrawals: DEA secretary
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.
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.
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).
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.
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.
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.
