The restriction imposed on foreign citizens by which they were permitted to exchange foreign exchange for Indian currency notes only up to a limit of ₹ 5000/- per week till December 15, 2016, is been extended till 31st December 2016.
The PFMIs comprise of 24 principles for Financial Market Infrastructure to provide for effective regulation, supervision and oversight of FMIs.
Application for deposit under Pradhan Mantri Garib Kalyan Deposit Scheme shall be made in Form II, indicating amount, full name, PAN, Bank Account details and address of declarant.
CBEC is of the View that extension of the facility of export warehousing to Ahmedabad district in the state of Gujarat Would facilitate the trade and industry
Banks are advised to preserve CCTV recordings of operations at bank branches and currency chests for period from November 08 to December 30, 2016
RBI allow Standalone PDs to distribute Relief/Savings bonds under non-core activities, as brokers of authorized entities, subject to adherence to terms
Banks are advised to maintain, at the Currency Chest level and at link branches level, a Daily Record of Issuances showing serial numbers of Mahatma Gandhi (New) Series banknotes in the denominations of ₹ 500 and above received from RBI as remittance
Under revised procedure transfer of shares of shareholders under tender offers would be made directly to account maintained by clearing corporation.
i. It has been decided to allow One Time Pin (OTP) based e-KYC subject to certain restrictions. ii. All Scheduled Commercial Banks (SCBs) are required to invariably upload the KYC data pertaining to all new individual accounts opened on or after January 1, 2017, with Central KYC Records Registry.
i. Explanation to Section 3(a)(ii)d pertaining to ‘definition of beneficial owner in case of trust’ which reads as – Explanation: Term ‘body of individuals’ includes societies has been deleted.
