Daily Archives: November 30, 2016

Restrictions on withdrawal of cash from PMJDY accounts

As a matter of precaution, banks are advised by RBI today (November 30, 2016) to observe the following measures in respect of PMJDY accounts. (i) The account holders who have fully complied KYC norms may be allowed to withdraw Rs.10000/-from their accounts in a month. However, based on the genuineness of withdrawals the branch manager may…

Temporary Cash holding limits at currency chest

In view of massive quantity of Specified Bank Notes (SBNs) accumulated in currency chests, RBI has revisited to its old instruction (circular. DCM (CC) No. 2598/03.02.05/2009-10 dated October 27, 2009) and advised banks that  SBNs deposited in the currency chests, since November 10, 2016 will be considered as part of the chest balance in the…