Others News

Reduction in charges for IMPS and UPI transaction by banks

22 December 2016 at 10:34

In order to further promote digital and card payments, Department of Financial Services, Ministry of Finance issues direction in public interest all Public Sector Banks(PSBs) not to charge fees for transactions settled on Immediate Payment Service (I

Posted in Others | 3 comments | 4962 Views

RBI withdraws Rs 5000 circular

21 December 2016 at 15:06

RBI/2016-17/189DCM (Plg) No. 1859/10.27.00/2016-17December 19, 2016 The Chairman / Managing Director/ Chief Executive Officer,Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional RuralBanks / Urban Cooperative Banks/ State Cooperative

Posted in Others | 3 comments | 19833 Views

Savings bank interest rate may be impacted post demonetisation says FM

21 December 2016 at 10:48

FM: India remains a bright point in global economy and BRICS in particular despite the slowdown in global economy in 2016 The Union Finance Minister Shri Arun Jaitley said that the current Financial Year 2016-17 is not a conventional year as many maj

Posted in Others | 1 comments | 4032 Views

Cashless economy means a less cash economy and not a no cash economy says FM

16 December 2016 at 11:14

The Union Finance Minister Shri Arun Jaitley chairs the Fifth Meeting of the Consultative Committee attached to the Ministry of Finance on the subjectof “Shift to Digital Transactions”; Says that digital transactions are a parallel mechan

Posted in Others | 2 comments | 3597 Views

We are now rapidly completing remonetisation exercise says FM

14 December 2016 at 11:03

Transcription of the Finance Minister’s Statement made to media today The Congress party was in power for 10 years continuously from 2004-14. There were two striking features of that regime. The First that it did not take even a single step eit

Posted in Others | 4 comments | 3057 Views

RBI directs banks to maintain CCTV recordings of operations at bank branches

13 December 2016 at 16:05

RBI/2016-17/181DCM (Plg) No. 1712/10.27.00/2016-17December 13, 2016The Chairman & Managing DirectorChief Executive OfficersAll BanksDear Sir,Preservation of CCTV recordingsPlease refer to paragraph (5) of our circular DCM (FNVD) No.1134/16.01.05/

Posted in Others | 2607 Views

RBI denies any move to cancel license of Axis bank

13 December 2016 at 10:45

The Reserve Bank of India today clarified that it has not initiated any action to cancel the banking licence of Axis Bank in the wake of certain allegations about some serious irregularities in transactions relating to deposit/exchange of Specified B

Posted in Others | 4 comments | 3945 Views

ICAI issues mandatory KYC norms for its members

12 December 2016 at 11:28

ANNOUNCEMENT OF KYC NORMS All the members of Institute of Chartered Accountants of India (ICAI), who are in practice, are hereby informed that the Council has formulated the Know Your Client (KYC) norms at it’s 356th Meeting held on 29th, 30th

Posted in Others | 3 comments | 13359 Views

Exemption withdrawn for usage of Rs 500 old notes at railways

10 December 2016 at 15:42

Government withdraws exemptions given for the use of Rs.500/- old notes, from the mid night of December 9, 2016, for making payments at railway ticketing counters, ticket counters of Government or Public Sector Undertakings buses for purchase of tick

Posted in Others | 2 comments | 2499 Views

ICAI advises CAs to watch the national interest as uppermost while advising client in the backdrop of Demonetisation

09 December 2016 at 18:31

December 9, 2016ANNOUNCEMENTFor attention of MembersDemonetisation Policy announced by Government of India- An Advisory for Members As you may be aware, the ICAI has always been supportive of the bold initiatives taken by the Government in strengthen

Posted in Others | 8 comments | 10470 Views