New Rs 2000 Note -17 Key Features Related Post How to Exchange Rs 500 / Rs 1000 Bank Notes w.e.f 10.11.2016 8 Use of Rs 500 and Rs 1000 Bank Notes allowed w.e.f 09.11.2016 RBI FAQs on Withdrawal of ₹ 500/- and ₹ 1000/- Bank Notes New Rs 500 Bank Note Key Security Features Action… Read More »
Rs 500 Bank Note Key Features Related Post How to Exchange Rs 500 / Rs 1000 Bank Notes w.e.f 10.11.2016 8 Use of Rs 500 and Rs 1000 Bank Notes allowed w.e.f 09.11.2016 RBI FAQs on Withdrawal of ₹ 500/- and ₹ 1000/- Bank Notes Action to be… Read More »
Limit on Cash Deposit & Cash Withdrawal in India With a view to curb financing of terrorism through the proceeds of Fake Indian Currency Notes (FICN) and use of such funds for subversive activities such as espionage, smuggling of arms, drugs and other contrabands into India, and for eliminating Black Money which casts a long… Read More »
Cash withdrawal from bank account w.e.f 10.11.2016 in India Limit on over the counter Cash Withdrawal :- Cash withdrawal from a bank account, over the counter will be restricted to Rs.10,000/- subject to an overall limit of Rs. 20,000/- in a week for the first fortnight, i.e., until the end of business hours on November 24,… Read More »
Govt of India Ministry of Finance 08-November, 2016 With a view to curb financing of terrorism through the proceeds of Fake Indian Currency Notes (FICN) and use of such funds for subversive activities, and for eliminating Black Money ,Government decides to cancel the legal tender character of the High Denomination bank notes of Rs.500 and… Read More »
RBI/2016-17/112 DCM (Plg) No.1226/10.27.00/2016-17 November 08, 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 In terms of Gazette Notification… Read More »
FAQs on Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- 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 though no security feature… Read More »
Use of Rs 500 and Rs 1000 Bank Notes w.e.f 09.11.2016 Valid Transactions with Rs 500 and Rs 1000 Bank Note :- The bank notes of Rs 500 and Rs 1000 shall not be ceased to be legal tender, with effect from the 9th November, 2016 until the 11th November, 2016, to the extent of… Read More »
MINISTRY OF FINANCE (Department of Economic Affairs) CORRIGENDUM New Delhi, the 9th November, 2016 S.O. 3417(E).—In the notification of the Government of India, Ministry of Finance, Department of Economic Affairs published vide number S.O. 3409(E) dated the 8th November, 2016 in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) dated the 8th… Read More »
ATMs –Non-dispensing of Old High Denomination Notes – Closure of operations RBI/2016-17/111 DPSS.CO.PD.No./02.10.002/2016-2017 November 8, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs /Urban Co-operative Banks / State Co- operative Banks /District Central Co-operative Banks/ Authorised ATM Network Operators / Card Payment Network Operators/White Label ATM Operators… Read More »