All India Bank Holidays 2017

(The list of holidays and festivals in Indian for all states/UTs of India during 2017) Indian bank holidays are declared under explanation to section 25 of the Negotiable Instrument Act 1881. These holidays are declared separately by each administration of various Union Territories and State Governments. Bank holidays declared by a state/UT is observed only…

2017 Holidays list for Central Government offices & Post Offices

The public holidays for the Central Government offices are divided into two parts. The administrative offices of Central Government situated outside Delhi and New Delhi observes 14 public holidays enumerated in Chart ‘A’. Besides 14 days compulsory public holidays listed in chart A, Delhi and New Delhi offices observe additional 3 compulsory public holidays enumerated…

Issuance and Operations of Prepaid Payment Instruments

In terms of the latest amendment to master circular of RBI, the  Banks which extend the Prepaid Payment Instruments facility the other entities / ‘employers’ such as unlisted corporates /partnership firms / sole proprietorship / public organizations like municipal corporations, urban local bodies, etc. The above-mentioned employers utilize prepaid payment instruments for onward issuance to…

RBI buckles again, changes rules for depositing SBNs (demonetized Rs.500/- & Rs.1000/-) into bank accounts

Today (21/12/2016), Reserve Bank modified its circular DCM (Plg) No. 1859/10.27.00/2016-17 dated December 19, 2016. In terms of the modification to said circular the provisions of sub para (i) and (ii) will not apply to fully KYC compliant accounts. Hence the bank officials and the general public are greatly relieved from the exclusion of following…