Categories: Bank News

New definition of “Currency”

As per RBI notification dated December 29, 2015 (G.S.R.No.1008 (E) the Debit cards, ATM cards or any other instrument which can be used to create a financial liability may be defined as currency.  The above notification of RBI supersedes its earlier notification no. FEMA 15/2000-RB,

Surendra Naik

Share
Published by
Surendra Naik

Recent Posts

Global Issues and initiatives

Global issues are problems of economic, environmental, social, and political concerns that affect the entire…

1 hour ago

Core elements of Sustainable Development

Sustainable development or 'Sustainability for development' refers to the development that is done without damaging…

1 day ago

Non-standard practices of charging interest by lenders: RBI directs corrective action

The Reserve Bank of India today, in its circular informed that during the onsite examination…

1 day ago

The list of Priority Sectors identified in India and PSL lending norms

Priority Sector lending (PSL) means bank lending to those sectors that the Government of India…

2 days ago

International Economic Organizations: The World Bank

The World Bank was established in 1944 in the name of the International Bank for…

2 days ago

International organisations: The IMF

International Monetary Fund (IMF) is an important financial agency of the United Nations and an…

3 days ago