Breaking news: Exchange of notes and withdrawl of cash limit increased
After a review by finance ministry the government tonight eased key restrictions including raising daily withdrawal limit from bank counters and ATM as well as increasing the amount of old and now non-operational currency notes that can be exchanged. RBI also ide its notification no.DCM (Plg) No.1272/10.27.00/2016-17 dated November 13, 2016, advised the Banks to make…
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Bank notes exchange misery may continue for some more time
Pursuant to demonetization of Rs.500/- and Rs.1000 currency notes, the task of providing exchange facility and withdrawal of cash from bank branches all over the country cast a huge responsibility on the workmen and officers of the bank. In spite of toiling beyond normal business hours and also sacrificing weekly off on Saturday & Sunday,…
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FAQs on exchange of old ₹ 500 & ₹ 1000/-notes,and other cash, non-cash transactions in banks
(Things to know about exchange of notes and withdrawal of cash and other transactions at the bank counter.) Many people still have confusion over how to exchange existing ₹ 500 & ₹ 1000/-notes in their possession and restriction on withdrawal of cash from the account and ATM. RBI has come out with guidelines on exchange…
Read articleBanks remain open on this Saturday and Sunday
BANKS REMAIN OPEN ON SATURDAY AND SUNDAY In order to meet expected a huge rush for the exchange of old Rs.500 and Rs.1000 notes, RBI has announced that all the banks remain open on November 12th (Saturday) and 13th (Sunday) to help the public wanting to change the notes.
Read articleRBI press release dated 08.11.2016 (withdrawal of ₹ 500 and ₹ 1,000 denominations of banknotes)
Government of India vide their Notification dated November 8, 2016 have withdrawn the Legal Tender status of ₹ 500 and ₹ 1,000 denominations of banknotes of the Mahatma Gandhi Series issued by the Reserve Bank till 8th November 2016. The communique states that the above step was necessitated to tackle counterfeiting Indian banknotes, to effectively…
Where photographs not necessary to open bank accounts?
(In some cases, photographs are not required for opening bank accounts. Find out here in which cases photographs not required.) While opening any type of accounts viz. Savings Bank, Current Accounts, Term Deposits, Recurring Deposits, or loan accounts, all the depositors/account holders have to submit two copies of latest photographs for the bank’s record. This…
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