Foreign Exchange Management (Insurance) Regulations 2015 RBI/2016-17/137 A.P. (DIR New Series) Circular No.18 [(1)/12 (R)] November 17, 2016 To All Category – I Authorised Dealer Banks Madam/ Sir Foreign Exchange Management (Insurance) Regulations, 2015 Attention of Authorised Dealers (ADs) is invited to A.D (M.A. Series) Circular No. 11 dated May 16, 2000 in terms of… Read More »
Date : Nov 17, 2016 The Reserve Bank of India has once again clarified today that there is sufficient supply of notes consequent upon increased production which started nearly two months ago. Members of public are requested not to panic or hoard currency notes. Alpana Killawala Principal Adviser Press Release : 2016-2017/1235
Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Daily Reporting RBI/2016-17/136 DCM (Plg) No.1291/10.27.00/2016-17 November 16, 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… Read More »
RBI/2016-17/135 DCM (Plg) No.1287/10.27.00/2016-17 November 16, 2016 The Chairman / Managing Director/Chief Executive Officer Public Sector Banks / Private Sector Banks/ Foreign Banks Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks Dear Sir, Withdrawal of Legal Tender Character of Specified Bank Notes – Compliance with provisions of 114B of the Income Tax… Read More »
RBI/2016-17/134 DBR.RRB.BC.No.36/31.01.002/2016-17 November 16 , 2016 All Regional Rural Banks Dear Sir / Madam, Section 23 of the Banking Regulation Act, 1949 – Master Circular on Branch Licensing – Census data 2011 Please refer to our Master circular on Branch Licensing DBR.CO.RRB.BL.BC.No.17/31.01.002/2015-16 dated July 1, 2015. As the Census data for 2011 are available in… Read More »
Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 16, 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 »
RBI asks Cooperative Banks to ensure Strict Compliance to its Instructions Date : Nov 15, 2016 There were reports that some cooperative banks were not strictly adhering to the instructions issued in connection with the withdrawal of legal tender status of the existing ₹ 500 and ₹ 1000 bank notes (specified bank notes). The Reserve… Read More »
RBI/2016-17/133 DCM (Plg) No.1280/10.27.00/2016-17 November 15, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks/ Foreign Banks Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks Dear Sir Standard Operating Procedure (SOP) for putting indelible ink on the finger of the customers coming to a bank branch… Read More »
Date : Nov 14, 2016 DCCBs can allow existing customers to withdraw upto ₹ 24,000 from their accounts : RBI The Reserve Bank of India has today clarified that District Central Cooperative Banks (DCCBs) can allow their existing customers to withdraw money from their accounts upto ₹ 24,000 per week upto November 24, 2016. However,… Read More »
Date : Nov 14, 2016 Constitution of Task Force for enabling dispensation of Mahatma Gandhi (New) Series Banknotes – Recalibration and reactivation of ATMs It has become necessary to re-calibrate all ATMs/ Cash handling machines to dispense the new design notes following introduction of Mahatma Gandhi (New) Series Banknotes including a new High Denomination (₹… Read More »