Tag: demonetisation
Economic Survey 2016-17 Impact of Demonetisation. Effect through end-December and likely longer-term effect. Cash squeeze to end by April 2017. Ministry of Finance Dated: 31/01/2017 Press Release GDP growth in 2017-18 is projected at 6 ¾ to 7 ½ percent Post-demonetisation Middle class to get affordable housing due …
Cash Withdrawal Limit Removed-ATM for current overdraft cash credit accounts immediately and for ATM from 01-02-2017 Reserve Bank of India Limits on Cash withdrawals from Bank accounts and ATMs – Restoration of status quo ante RBI/2016-17/217 DCM (Plg) No. 2905/10.27.00/2016-17 January 30, 2017 The Chairman / Managing Director …
Business Sentiments for Q4 2016-17 Declines-RBI Survey Decline in Overall Business Sentiments for Q4:2016-17: RBI’s Industrial Outlook Survey finds The 76th round of the Reserve Bank of India’s Industrial Outlook Survey (IOS) indicated a decline in business sentiments. This round of the survey was conducted during October-December 2016. …
ATM-Current account Cash withdrawal limit increased. For ATM from Rs. 4500/- to 10000/- per day per card and for C/A or overdrafts from 50000/- per week to 100000/- Reserve Bank of India Enhancement of withdrawal limits from ATMs and Current Accounts RBI/2016-17/213 DCM (Plg) No.2559/10.27.00/2016-17 January 16, 2017 …
Demonetization resulted sharp decline in terror funding hawala trade, supari killings and human trafficking, particularly of young girls as sex slaves Ministry of Law & Justice Press Release Dated: 12-01-2017 Demonetization resulted in decline in Terror Funding, Hawala Trade, Human Trafficking, says Law Minister Ravi Shankar Prasad Union …
Demonetization-historic decisions have temporary pain attached to them-Finance Minister Ministry of Finance Press Release Dated 11/01/2017 On demonetization, Finance Minister Shri Arun Jaitley says that difficult decisions initially pass through difficult phases as historic decisions have temporary pain attached to them. Stressing the implementation of GST, FM says …
No withdrawal from bank if PAN-Form 60 not provided. Bank to report cash deposits from 01-04-2016 to 09-11-2016 also. New Rules Income-tax Rules amended to provide that bank shall obtain and link PAN or Form No. 60 (where PAN is not available) in all existing bank accounts …
Actual numbers of SBNs returned to be disclosed soon-RBI clarifies that there might be accounting errors or possible double counts etc. Reserve Bank of India Date : Jan 05, 2017 Clarification regarding Specified Bank Notes (SBNs) There had been various estimates on SBNs tendered in certain sections. We …
Foreign citizens can exchange old notes till 31-01-2017. RBI relaxes the SBNs exchange facility to foreign citizens (i.e. foreign passport holders) Reserve Bank of India RBI/2016-17/208 A.P. (DIR Series) Circular No. 24 January 03, 2017 To All Authorised Persons Madam / Sir, Exchange facility to foreign citizens Attention …
Allocation of 40 percent bank notes to rural areas. RBI advisory for banks currency chests to issue cash in denominations of Rs 500 and below Reserve Bank of India RBI/2016-17/207 DCM (Plg) No.2200/10.27.00/2016-17 January 03, 2017 The Chairman / Managing Director/ Chief Executive Officer, (All banks with currency …