Community & General News
Cashless economy means a less cash economy and not a no cash economy says FM
16 December 2016 at 11:14The 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
We are now rapidly completing remonetisation exercise says FM
14 December 2016 at 11:03Transcription 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
RBI directs banks to maintain CCTV recordings of operations at bank branches
13 December 2016 at 16:05RBI/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/
RBI denies any move to cancel license of Axis bank
13 December 2016 at 10:45The 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
ICAI issues mandatory KYC norms for its members
12 December 2016 at 11:28ANNOUNCEMENT 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
Exemption withdrawn for usage of Rs 500 old notes at railways
10 December 2016 at 15:42Government 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
ICAI advises CAs to watch the national interest as uppermost while advising client in the backdrop of Demonetisation
09 December 2016 at 18:31December 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
Rs 427684 crore issued to public since demonetisation by banks
09 December 2016 at 10:52Activity at Banks during November 10 to December 7, 2016Consequent to the announcement of withdrawal of Legal Tender status of banknotes of ₹ 500 and ₹ 1000 denominations from the midnight of November 8, 2016, the Reserve Bank of India made arrangeme
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
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