RBI/2016-17/180 DCM (Plg) No. 1683/10.27.00/2016-17 December 12, 2016 The Chairman / Managing Director/ Chief Executive Officer (All banks maintaining currency chests) Dear Sir, Distribution of Mahatma Gandhi (New) Series Banknotes – Records Please refer to our circular DCM (RMMT) No. G-5/11.01.01/2016-17 dated July 15, 2016 on Receipt and Remittance of Treasure. 2. In the wake… Read More »
Date : Dec 12, 2016 The Reserve Bank of India today clarified that it has not initiated any action to cancel the banking licence of Axis Bank in the wake of certain allegations about some serious irregularities in transactions relating to deposit/exchange of Specified Bank Notes in a few branches of the bank. The clarification… Read More »
Date : Dec 08, 2016 Issuance of Rs 500 bank notes without inset letter, in the Mahatma Gandhi (New Series) The Reserve Bank of India will shortly issue Rs 500 denomination banknotes in the Mahatma Gandhi (New) Series, without any inset letter, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India, and… Read More »
Insolvency and Bankruptcy Board of India 30th November, 2016 Limited Insolvency Examination The Board hereby publishes the syllabus, format and frequency of the “Limited Insolvency Examination” under regulation 3(3) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016: I. Syllabus for Examination The syllabus for the “Limited Insolvency Examination” is as under:… Read More »
ANNOUNCEMENT For attention of Members Demonetisation Policy announced by Government of India- An Advisory for Members As you may be aware, the ICAI has always been supportive of the bold initiatives taken by the Government in strengthening the economic growth of our country and also in its efforts to weed out black money and corruption… Read More »
ANNOUNCEMENT OF KYC NORMS All the members of Institute of Chartered Accountants of India (ICAI), who are in practice, are hereby informed that the Council has formulated the Know Your Client (KYC) norms at it’s 356th Meeting held on 29th, 30th June and 1st July, 2016 KNOW YOUR CLIENT (KYC) NORMS The financial services industry… Read More »
RBI/2016-17/178 DPSS.CO.OSD.No.1485/06.08.005/2016-17 December 09, 2016 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all other Prospective Prepaid Payment Instrument Issuers Dear Sir, Security and Risk Mitigation measure – Technical Audit of Prepaid Payment Instrument issuers With the withdrawal of legal tender characteristics of existing ₹ 500/- and ₹ 1000/- Bank Notes (Specified Bank… Read More »
RBI/2016-17/176 DBR.AML.BC. No. 18/14.01.001/2016-17 December 8, 2016 All Regulated Entities (REs) Dear Sir/Madam, Amendment to Master Direction (MD) on KYC In exercise of the powers conferred under Section 35A of the Banking Regulation Act, 1949 and section 35A read with section 56 of that Act, Rule 9 (14) of the Prevention of Money Laundering (Maintenance… Read More »
Amendment to Master Direction on Know Your Customer RBI/2016-17/177 DBR.AML.BC.47/14.01.01/2016-17 December 8, 2016 All Regulated Entities Dear Sir/Madam, Amendment to Master Direction on Know Your Customer In exercise of the powers conferred under Section 35A of the Banking Regulation Act, 1949, it has been decided to make certain amendments to the Master Direction on Know… Read More »
Withdrawal of Legal Tender Character of the old Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on December 05, 2016) 1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even… Read More »