Relaxation in daily Cash withdrawal limits from ATMs
RBI vide its circular no.DCM (Plg) No. 2142/10.27.00/2016-17 dated 30.12.2016 reviewed daily Cash withdrawal limits from ATMs with effect from January 01, 2017. The new limit for cash withdrawal is enhanced from the existing ₹ 2500/- to ₹ 4500/- per day per card.There is no change in weekly withdrawal limits.Such disbursals should predominantly be in…
Read articleAll 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…
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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…
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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…
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Banks cannot decline to accept the coins minted by the Government
In a rejoinder to widely spread Social media rumours about RBI’s declaration of ₹ 10 coins as invalid, the central bank vide its press release no.RBI/2016-2017/1257 dated Nov 20, 2016, advised members of the public not to give credence to such ill-informed notions as well as ignore them and continue to accept these coins as…
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…
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