RBI/2016-17/130 DCM (Plg) No.1273/10.27.00/2016-17 November 14, 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/ District Central Cooperative Banks Dear Sir, Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Applicability… Read More »
RBI/2016-17/131 DCM (Plg) No. 1274/10.27.00/2016-17 November 14, 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/ District Central Cooperative Banks Dear Sir, Withdrawal of Legal Tender Character of Specified Bank Notes – Expanding the distribution locations… Read More »
RBI/2016-17/132 DPSS.CO.PD.No.1240/02.10.004/2016-2017 November 14, 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 White Label ATM Operators Dear Madam/ Sir, Usage of ATMs – Waiver of customer charges A reference is invited to the circular… Read More »
Date : Nov 13, 2016 Issue of ₹ 500 banknotes inset letter ‘L’ in Mahatma Gandhi (New) Series The Reserve Bank of India will shortly issue ₹ 500 denomination banknotes in Mahatma Gandhi (New) Series with inset letter ‘L’ in both the number panels, bearing the signature of Dr. Urjit R. Patel Governor, Reserve Bank of… Read More »
RBI/2016-17/128 DCM (Plg) No.1268/10.27.00/2016-17 November 12, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Cooperative Banks Dear Sir, Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Reporting and Monitoring – Information on Issuance of… Read More »
RBI/2016-17/129 DCM (Plg) No.1272/10.27.00/2016-17 November 13, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private 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 existing ₹ 500/- and ₹ 1000/- Bank Notes – Revision… Read More »
Date : Nov 13, 2016 Don’t draw and hoard; enough cash in small denominations available at RBI and banks: RBI The Reserve Bank assures members of the public that enough cash in small denominations is also available at the Reserve Bank and banks. The Reserve Bank urges that public need not be anxious; need not… Read More »
Government agencies are closely monitoring receipt of fake currency notes in Banks and Post Office; Special watch is being kept receipt of fake notes in the States bordering our neighbouring countries. One of the primary objectives of cancellation of legal tender character of old series of Rs.500/- and Rs.1000/- notes was to check the menace… Read More »
FAQs on Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Revised) (Updated as on November 08, 2016) (Updated as on November 11, 2016) (Updated as on November 12, 2016) 1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher… Read More »
Date : Nov 12, 2016 Withdrawal of Legal Tender Character of ₹ 500 and ₹ 1,000: RBI Statement The withdrawal of the legal tender character of the then existing bank notes in ₹ 500 and ₹ 1,000 cast a huge responsibility on the banking system to swiftly withdraw these specified bank notes in as smooth… Read More »