Category: RBI
Procedure for deposit/exchange of ₹2000 banknotes if one misses deadline of 07.10.2023. Extension of date for deposit / exchange of ₹2000 banknotes until October 07, 2023. The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 banknotes from circulation and facility for deposit and / or …
Financial Institutions to release all property documents and remove charges within 30 days of repayment of loan or to pay compensation – RBI RBI has mandated that Financial Institutions shall have to release all property documents and remove charges within 30 days of repayment of loan or pay …
RBI issues revised penal interest guidelines for lending institutions w.e.f. 1st January 2024 As per the existing guidelines issued by RBI, lending institutions had the operational autonomy to formulate Board approved policy for levy of penal rates of interest. RBI observed that many Lending Institutions use penal rates …
88% of the ₹2000 banknotes have returned back as on 31.07.2023 – RBI The Reserve Bank of India on 19th May 2023 had announced the withdrawal of ₹2000 banknotes from circulation. According to RBI, the total value of ₹2000 banknotes in circulation as on March 31, 2023 amounted …
Star Series Banknotes are legal – Reserve Bank of India clarifies on Star Series Banknotes Recently, in social media, a post went viral claiming that if there is a star in the middle of the numbers of the Bank note then it is a fake note. As per …
Sovereign Gold Bond Scheme 2023-24 notified by Government Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds (SGBs) in tranches as per the calendar specified below: No. Tranche Date of Subscription Date of Issuance 1. 2023-24 Series I June 19 – …
RBI issues 15 Question & Answers (FAQs) on Withdrawal of Rupees 2000 Denomination Banknotes 1. Why are ₹2000 denomination banknotes being withdrawn? The ₹2000 denomination banknote was introduced in November 2016 under Section 24(1) of RBI Act, 1934 primarily with the objective to meet the currency requirement of …
RBI to withdraw Rs. 2000 Denomination Banknotes from Circulation but Will continue as Legal Tender The Rs. 2000 denomination banknote was introduced in November 2016 primarily to meet the currency requirement in view of demonetisation. The objective of introducing Rs. 2000 banknotes has been stated to met banknotes in …
Penal interest on loan defaults replaced by Penal Charges i.e, no further interest on such charges. RBI releases Draft Circular on Fair Lending Practice – Penal Charges in Loan Accounts The Reserve Bank of India has released the Draft Circular on Fair Lending Practice – Penal Charges in …
Revised Guidelines for Appointment / Re-appointment of Statutory Branch Auditors of Public Sector Banks from Financial year 2022-2023 and onwards. RBI has revised Guidelines for Appointment / Re-appointment of Statutory Branch Auditors of Public Sector Banks and norms on Business Coverage under Statutory Branch Audit of Public Sector …
