List of payments allowed with Rs 500/ 1000 Notes As the Government of India has declared that currency notes of Rs. 500 and Rs. 1,000 denominations will not be valid from midnight of November 8, 2016, citizens will have to surrender the old notes at any branch of a bank or post office to get… Read More »
THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 9th November, 2016 S.O. 3416(E).—In exercise of the powers conferred by sub-section (2) of section 26 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby amends the notification of… Read More »
Payment Systems (RTGS, NEFT, Cheque Clearing, Repo, CBLO and Call markets) to remain open on Saturday, November 12 and Sunday, November 13, 2016 RBI/2016-17/116 DPSS (CO) RTGS No.1212/04.04.002/2016-17 November 10, 2016 The Chairman / Managing Director and Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Small Finance Banks / Regional Rural… Read More »
Limit for Withdrawal of Cash RBI/2016-17/123 DCM (Plg) No.1251/10.27.00/2016-17 November 10, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes… Read More »
FM: Process of Tax Reforms will continue and pending GST issues will be resolved soon. FM: No Harassment of Small Depositors of Demonetised High Value Notes; Finance Minister Shri Arun Jaitley inaugurates the Two Day Economic Editors Conference in New Delhi The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley said that the… Read More »
Watch Media Briefing by Union Finance Minister Shri Arun Jaitley after Banning of Bank Notes of Rs 500/ Rs 1000 in India (Streamed live on Nov 9, 2016 ) Press Release by Govt of India , Ministry of Finance,10-November, 2016 Replies given by Revenue Secretary Dr. Hasmukh Adhia on the questions relating to action by Income… Read More »
Press Release by Govt of India , Ministry of Finance,10-November, 2016 Replies given by Revenue Secretary Dr. Hasmukh Adhia on the questions relating to action by Income Tax Department in respect of old currency deposited in banks . Q.1 A lot of small businessmen, housewives, artisans, workers may have some cash lying as their savings… Read More »
As per Press release by Ministry of Finance, Govt of India ,10-November, 2016 Old demonitised 500 & 1000 rupee notes will be accepted for making payments towards fees, charges, taxes and penalties payable to the Central and State Governments including Municipal and local bodies;This facility available only till midnight of 11th November,2016. The Central Government has… Read More »
PM expresses happiness as citizens exchange notes in a patient and orderly manner; Assures that the Government is unwavering in its effort to create a corruption free India Prime Minister Shri Narendra Modi has expressed happiness at the patient and orderly manner in which the citizens are getting the notes exchanged in banks following the… Read More »
Fake Notes Detection by Banks As per RBI Circular No RBI/2016-17/22 DCM (FNVD) G–6/16.01.05/2016-17 Dated 20.07.2016 Detection of Counterfeit Notes /Fake Notes – Reporting to Police and other bodies by Banks The following is the procedure that has be followed by banks while reporting incidence of detection of counterfeit note to the Police: For cases of… Read More »