Community & General News
RBI Withdraws the Incremental CRR
07 December 2016 at 16:29On November 26, 2016 the Reserve Bank had announced an incremental cash reserve ratio (CRR) of 100 per cent of the increase in net demand and time liabilities (NDTL) of scheduled banks between September 16, 2016 and November 11, 2016 effective the fo
Two factor authentication removed by RBI for transaction lower than Rs 2000
07 December 2016 at 10:37Card Not Present transactions � Relaxation in Additional Factor of Authentication for payments upto ₹2000/- for card network provided authentication solutionsRBI/2016-17/172DPSS.CO.PDNo.1431/02.14.003/2016-17December 6, 2016The Chairman and Man
Govt directs banks to install more than one million new POS terminal by March 2017
07 December 2016 at 10:37In order to facilitate the move towards cashless transactions, the Government has directed the banks to install an additional one million new PoS terminals by 31st March 2017;. 2,73,919 camps organized to open banks accounts for unorganized labour in
BRICS countries expresses commitment to ensure fairness of the International Tax System
06 December 2016 at 17:23Joint Communiqué issued at the end of the two day Meeting of the BRICS Heads of Revenue and Experts on Tax Matters at Mumbai today; Heads of Revenue express their continued support to all international initiatives towards reaching a globally f
Govt asks employees to use debit card for personal transaction
06 December 2016 at 10:38Government of India takes policy decisions to encourage cashless/electronic transactions; Asks the Government employees to take the lead and maximize the usage of Debit Cards for personal related transactions instead of cash In the recent years, adva
RBI to release new notes for Rs 20 and Rs 50 soon
05 December 2016 at 10:47Issue of Rs. 20 banknotes with the inset letter 'L', with numerals in ascending size in number panels and without intaglio printingThe Reserve Bank of India will shortly issue Rs. 20 denomination banknotes in the Mahatma Gandhi Series-2005, w
Bank official suspended for not following RBI guidelines
03 December 2016 at 12:11Action taken in cases of bank officials involved in carrying out irregular transactions violative of RBI’s instructions post demonetisation of Specific Bank Notes by the Government w.e.f. midnight of 8th November 2016 Pursuant to the decision
RBI advises banks not to trust guidelines being circulated in social media
02 December 2016 at 11:08Information from Unauthenticated Sources � Advisory to banksRBI/2016-17/166DCM (Plg) No.1500/10.27.00/2016-17The Chairman / Managing Director/ Chief Executive Officer,Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional RuralBank
Old 500 Note cannot be used at Petrol Pump and for Air Ticket Purchase wef 03.12.2016
01 December 2016 at 17:41MINISTRY OF FINANCE(DEPARTMENT OF ECONOMIC AFFAIRS)NOTIFICATIONNew Delhi, the 30th November, 2016S.O. 3598(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
Interest rate cut in PPF and KVP by 0.10 percent in this quarter
30 November 2016 at 11:14Interest rate cut for long term saving schemes The interest rates of Public Provident Fund (PPF), Kisan Vikas Patra (KVP), Senior Citizens Savings Scheme, 2004, and Sukanya Samriddhi Account (the Girl Child Scheme) were reduced by 0.10 percentage po
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