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…
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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…
Read article New restriction on deposit of Specified Bank Notes (old Rs.500/- & Rs.1000 notes) into bank accounts
RBI has today (19/12/2016)placed certain restrictions on deposits of SBNs into bank accounts. Under the new rule, the tenders of SBNs in excess of ₹ 5000 into a bank account will be received for credit only once during the remaining period till December 30, 2016. The credit in such cases shall be afforded only after…
Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016
(The scheme for converting black money into white) The black money (undisclosed money) holders in India need not hoard them anymore. The Government of India has now brought a new scheme called ‘Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016’. Under the Scheme, any person who declares his/her undisclosed income under sub-section (1) of section…
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