RBI clarified that it has not initiated any action to cancel banking licence of Axis Bank in wake of certain allegations about some serious irregularities in transactions relating to deposit/exchange of Specified Bank Notes in a few branches of the bank.
CBSE introduced e-payment for collection of fee for examination, affiliation & various activities including payments to its examination functionaries
RBI decided to keep key rates unchanged in its 5th Monetary Policy 2016-17. Bond markets reacted negatively given that 25 bps was already factored
It has been reported that certain guidelines/instructions purported to be issued by the Reserve Bank are being circulated in the social media by some unscrupulous elements creating confusion in the minds of the public/bank personnel.
Banks reported that post demonetisation exchange/deposits effected from November 10, 2016 upto November 27, 2016 amounted to ₹ 8,44,982 crore (exchange amounted to ₹ 33,948 crore and deposits amounted to ₹ 8,11,033 crore).
RBI advises that exchange of banknotes in ₹ 500 and ₹ 1000 denominations will continue to be available at RBI counters
Reserve Bank of India has formally adopted a flexible inflation targeting (FIT) framework with the amendment of the RBI Act in May 2016 with an emphasis on a strong nominal anchor for monetary policy.
The paper first describes the move towards the flexible inflation targeting (FIT) regime for monetary policy by the Reserve Bank in the context of the evolving macro-economic scenario
i) The upper limit for number of angel investors in a scheme is increased from forty nine to two hundred. ii) The definition of start-up for Angel Funds investments be similar to definition of DIPP as given in their start-up policy. Accordingly, Angel Funds will be allowed to invest in start-ups incorporated within five years, which was earlier 3 years.
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
