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Demonetisation: 156 bank officials found involved in money laundering
Press Information BureauGovernment of IndiaMinistry of Finance07-February-2017 16:30 ISTInvolvement of bank officials in money laundering during post monetizationEnforcement Directorate has intimated...
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RBI Clarification on Income Recognition on S4A & SDR Advances
The RBI had clarified via its circular no. DBR.No.BP.BC.34/21.04.132/2016-17 dated 10 November. 2016, “Schemes for Stressed Assets-Revisions”, that the standstill clause only applies to asset clarific...
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14 Bank Branches found employees found involved in irregular note exchange
Money Credited in Bank AccountsReserve Bank of India (RBI) has advised the banks vide in circular Ref. No.DBS.CO.PPD / 4220/11.01.005/2016-17 dated November 29, 2016 to take action to prevent / detect...
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Govt may reduce Interest rate & waive transaction Charges on Credit Card to promote cashless transactions
Proposal to waive off bank transaction charges and decrease interest rate for credit cards to promote cashless transactionsReserve Bank of India (RBI) has given banks the freedom to fix bank service c...
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Meeting conducted by RBI prior to demonitization
RBI held a meeting of its Central Board on November 8, 2016. The agenda of the meeting, inter-alia, included the item : “Memorandum on existing banknotes in the denomination of Rs 500 and Rs 1000 – Le...
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Govt issues banknotes worth Rs. 5,92,613 crore upto 19.12.2016
From November 10, 2016 upto December 19, 2016, banks have reported that banknotes worth Rs. 5,92,613 crore have been issued to publicConsequent to the announcement of withdrawal of Legal Tender status...
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Co-operative Banks barred from accepting deposits under PMGK Deposit Scheme
Amendment in Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016The Government of India, in consultation with the Reserve Bank of India, had notified Pradhan Mantri Garib Kalyan Deposit Scheme (...
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Updated FAQs on withdrawal of Rs. 500 & Rs. 1000 Banknotes
FAQs on withdrawal of Rs. 500 & Rs. 1000 Banknotes (17.01.2017) Withdrawal of Legal Tender Character of the Old Bank Notes in the denominations of ₹ 500 and ₹ 1000 and The Specified Bank Notes (Cessat...
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Attention! Resident & Non-Resident Indians returning from abroad
1. The Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 has been promulgated, in the follow-up of withdrawal of the legal tender character of the existing series of banknotes, as on 8.1...
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Demonetisation an effective anti scam vaccine for Black Money/ Corrpution
Demonetisation an effective Anti – Scam Vaccine for Corruption & Black Money: Venkaiah NaiduMinister Highlights key Achievements of the Government in the past two and half years Shri M. Venkaiah Naidu...
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Statement made by the Union Finance Minister Shri Arun Jaitley on Remonetisation and its impact
FM on Remonetisation and its impact & benefits of Demonetisation Statement made by the Union Finance Minister Shri Arun Jaitley on Remonetisation and its impact.Following is the transcription of the S...
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Penalty / Jail for holding Old Notes of Rs. 500 and Rs. 1000
Cabinet on Wednesday cleared promulgation of an ordinance to penalize persons holding junked Rs 500 and Rs 1,000 notes beyond March 31. According to the new rule, a person holding old currencyin exces...
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Report of the Committee on Digital Payments
Report of the Committe on Digital Payments, chaired by Shri Ratan P. Watal, Principal Advisor, NITI Ayog and Former Finance Secretary (Dated :27th December,2016)1 .AcknowledgementThe remit of the Comm...
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Updated FAQs on withdrawal of Rs. 500 & Rs. 1000 Banknotes
FAQs on withdrawal of Rs. 500 & Rs. 1000 Banknotes (27.12.2016) 1. Why is this scheme introduced?The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons,...
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Updated FAQs on withdrawal of Rs. 500 & Rs. 1000 Banknotes
FAQs on withdrawal of Rs. 500 & Rs. 1000 Banknotes (22.12.2016) 1. Why is this scheme introduced?The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons,...
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No instruction by RBI to issue ATM Slip in Regional Languages
GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF FINANCIAL SERVICESLOK SABHAUNSTARRED QUESTION No. 5028TO BE ANSWERED ON 16th DECEMBER, 2016 (FRIDAY)ATM Slip in Regional LanguagesSHRI D.S. RATHOD:W...
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Focus now on printing more Rs. 500 notes- Secretary DEA
Secretary Economic Affairs, Government of India briefing the media about Demonetisation related issues and the US Fed rate hike, in North Block on 16.12.2016 has said the following-Printing of new Rs...
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RBI regulations on treatment of certain balance sheet items
Valuation of AssetsReserve Bank of India (RBI) has reviewed the capital requirement position of all Scheduled Commercial Banks including the Public Sector Banks (PSBs) and aligned, to some extent, the...
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Measures by RBI absorb excess liquidity in banks post demonetisation
Measures to absorb the excess liquidity in the banks post demonetisationReserve Bank of India (RBI) has taken several measures to absorb the excess liquidity in the banks’ post demonetisation. It has...
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Demonitization- Benefits, Higher withdrawal limits & steps by RBI to ease problems
DemonitizationBanks staff had worked extra hours to handle the increased volume of work due to demonetisation of bank notes of Rs. 500 and Rs.1000 with effect from November 8, 2016.Whenever complaint...