Withdrawal limits of ATMs and Current Accounts

RBI in its circular no, RBI/2016-17/213/DCM (Plg) No.2559/10.27.00/2016-17 dated January 16, 2017, announced that; The withdrawal limits of cash from ATMs is increased to Rs 10000/- per day per card from the current limit of ₹ 4,500/-.(It will be operative within the existing overall weekly limit of Rs.24000/-). The withdrawal limits from current accounts is…

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…

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…