RBI issues Rs.500 notes in a new series

RBI issues Rs.500 notes in a new series Now your bank notes in a new design The new Rs.500 notes are different form the present series in colour, size, theme, location of security features and design elements. The size of the new notes is 63mm x 150mm. The color of the notes is stone grey … Read more

Cancellation of the legal tender character of the High Denomination bank notes of Rs.500 and Rs.1000 denominations issued by RBI

Cancellation of the legal tender character of the High Denomination bank notes of Rs.500 and Rs.1000 denominations issued by RBI Government of India Ministry of Finance Department of Economic Affairs Press Release With a view to curbing financing of terrorism through the proceeds of Fake Indian Currency Notes (FICN) and use of such funds for … Read more

500 and 1000 Rupees notes Scrapped; ATM’s closed for two days

500 and 1000 Rupees notes Scrapped; ATM’s closed for two days Today Prime minister announces that Rs 1000 and 500 Notes will be invalid after midnight . These Rs.500 and 1000 notes will be accepted at hospitals, Petrol Bunk, booking Air Ticket and Train ticket upto 11th November In a big announcement on Tuesday evening, … Read more

Payment of Agency Commission on pension accounts – RBI Circular on 21.1.2016

Payment of Agency Commission on pension accounts – RBI Circular on 21.1.2016 Reserve Bank Of India RBI/2015-16/294 DGBA.GAD.No.2278/31.12.2010/2015-16 January 21,2016 The Chairman & Managing Director/ The Chief Executive Officer All Agency Banks Dear Sir/Madam Payment of Agency Commission on pension accounts As you may be aware, agency banks are being compensated at Rs.65 per transaction … Read more

Simplification of KYC Norms – Creating Public Awareness

Simplification of KYC Norms – Creating Public Awareness Reserve Bank of India Date: Sep 04, 2014 Simplification of KYC Norms – Creating Public Awareness RBI/2014-15/209 DBOD. AML. No. 3356/14.01.001/2014-15 September 4, 2014 The Chairperson / Chief Executive Officers All Scheduled Commercial Banks (Excluding RRBs)/ Local Area Banks / All India Financial Institutions Dear Madam/Sir, Simplification … Read more