Friday , July 21 2017

Tag Archives: note ban

The Government Explores a New Monetary Facility to absorb Excess Cash


The government is devising a new monetary mechanism to suck up massive cash deposits held with the banking system. The government is trying hard to discover a new monetary facility (standing deposit facility) to absorb the excess cash in the banking system, told by Banikinkar Pattanayak in New Delhi. The ...

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Weekly cash withdrawal limit raised to Rs 50,000 from Feb 20; limits end by March 13

cash withdrawal limit

New Delhi: Reserve Bank of India (RBI) on Wednesday raised the weekly cash withdrawal limit to Rs 50,000 from Rs 24,000, which will be effective from February 20. RBI also announced that from March 13 there will be no cap on cash withdrawal from the savings account. “The limits on ...

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Rs 3-4 lakh crore unaccounted money deposited in bank accounts: IT dept

IT dept

Besides, the IT Dept said Rs 25,000 crore worth of cash was deposited in dormant bank accounts. New Delhi: The Income Tax Department suspects that nearly Rs 3-4 lakh crore of uncounted income has been deposited in banks post the demonization drive that began 2 months ago and is scrutinizing ...

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Heavy rush in banks, treasuries continues in Kerala


Banks and treasuries in Kerala witnessed a heavy rush and serpentine queues on Friday for the second consecutive day, with people queueing up to withdraw their salaries and pensions. About Rs 3,000 crore is needed every month to disburse the salaries to government servants and pensioners in Kerala. Thiruvananthapuram: Banks ...

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Currency Woes Likely To Continue For People in Andhra Pradesh


People of Andhra Pradesh will have to endure the “currency woes” for some time to come as the state government has given up hope of either getting more cash from the RBI into the banks or introducing cashless transactions on a huge scale in the near future. I have required ...

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AP CM Chandra Babu Naidu Writes to Centre, Demands Rs 10,000 Crore in Smaller Denominations


Mr. Naidu also required waiver of user charges on all the online transactions and supply of ‘point of sale’ swiping machines. Vijayawada: In the wake of currency crunch caused by the demonetization of Rs 500 and Rs 1,000 notes, Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday night wrote ...

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Promising to exchange notes 2 extort man of 50 lakh in Hyderabad


Middleman promising the complainant that he would arrange for exchange of 50 lakh rupees in old currency notes outside the banking system in Hyderabad. In Hyderabad 2 persons 1 of them posing as a policeman, allegedly extorted Rs 50 lakh in demonetized currency notes from a man in Rajendra Nagar ...

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