Articles tagged under: RBI

99.3% of demonetised currency returned to banks: RBI annual report

August 29, 2018
99.3% of demonetised currency returned to banks: RBI annual report

New Delhi: As many as 99.3 per cent of the old 500 and 1,000 rupee notes, that were banned overnight in November 2016, have been returned, the Reserve Bank of India said in its annual report. Of the Rs 15.41 lakh crore worth 500 and 1,000 rupee notes in circulation before November 8, 2016, notes worth Rs 15.31 lakh crore have been returned. The "humungous task of processing and verification of specified bank notes (SBNs) was successfully achieved," it said. The SBNs received were veri...Read More

It’s official, new currency note of Rs 100 to have motif of Ranki Vav of Patan

July 19, 2018
It’s official, new currency note of Rs 100 to have motif of Ranki Vav of Patan

Mumbai: The Reserve Bank of India today in a statement said it will shortly issue ₹ 100 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has Motif of “RANI KI VAV” on the reverse, depicting the country’s cultural heritage. Rani Ki Vav or Ranki Vav which is also known as Queen's stepwell is located in Patan town of North Gujarat. It is a world heritage monument declared by UNESCO. I...Read More

Ranki Vav of Patan to be on new Rs 100 currency notes: report

July 17, 2018
Ranki Vav of Patan to be on new Rs 100 currency notes: report

Mumbai: The Reserve Bank of India (RBI) is set to release a new Rs 100 note in violet colour by next month. The new note will house the impression of Gujarat's Rani Ki Vav (stepwell), said a Dainik Bhaskar report, adding that the size of this currency will be smaller than the present one. However, it will be slightly bigger than new Rs 10 note. Ranki Vav or Rani Ki Vav which is also known as Queen's stepwell is seven storey deep stepwell with hundreds of sculptures. It was built by medieval e...Read More

Demand draft to bear name of purchaser from September 15: RBI notification

July 13, 2018
Demand draft to bear name of purchaser from September 15: RBI notification

New Delhi: The Reserve Bank of India has directed banks to incorporate the name of purchaser in demand draft with effect from September 15 in a bid to prevent possible misuse for money laundering. From September onwards, issuing banks have been asked to incorporate the name of the purchaser on the face of the demand draft, pay order, and banker's cheques. These instructions shall take effect for such instruments issued on or after September 15, 2018. Read More

We have been assured of resolution of cash-crisis shortly: CM Rupani

April 18, 2018
We have been assured of resolution of cash-crisis shortly: CM Rupani

Gandhinagar: Chief Minister Vijay Rupani today said that the center has assured of resolving the cash-crisis in Gujarat shortly. Talking to newsmen here Rupani said that for the past 2 to 4 days cash-crisis has arisen in the state and the state government has drawn RBI's attention towards it. 'The Chief Secretary has talked to the union Finance secretary in this regard and we from our level have also talked above for quick resolution of the issue so that public do no...Read More

No respite from cash-crunch, dried-up ATMs with no-cash tags worsen situation

April 16, 2018
No respite from cash-crunch, dried-up ATMs with no-cash tags worsen situation

Ahmedabad/Vadodara/Patan/Surat: People in large parts of Gujarat were suffering the heat of cash-crunch for the past over a week even as most of the ATMs in not only the districts of worst affected North Gujarat but in cities like Vadodara, Ahmedabad and Surat had also gone dry. The cash-crunch owing to which many of the banks have put withdrawal limits in place was said to be due to the reduced inflow from the RBI. People in Aravalli, Sabarkantha, Patan, Mahesana, B...Read More

Gujarat govt in touch with RBI to resolve cash scarcity issue in banks: Nitin

April 13, 2018
Gujarat govt in touch with RBI to resolve cash scarcity issue in banks: Nitin

Surat: Amid the fresh scarcity of cash in several banks and many of them putting a limit on daily withdrawal in the past few days, DyCM cum Finance Minister of Gujarat Nitin Patel today said that the state government was trying to resolve the issue at the earliest. Notably some of the co-operative banks in Aravalli, Sabarkantha and Mahesana have also put a limit on cash-withdrawal. Talking to newsmen here today Patel said that he has come to know about the cas...Read More

Amrit Manthan of modern day Indian economy on , we need to be Neelkantha for consuming the emanating poison till the nectar comes out: RBI governor Urjit Patel in Gujarat

March 14, 2018
Amrit Manthan of modern day Indian economy on , we need to be Neelkantha for consuming the emanating poison till the nectar comes out: RBI governor Urjit Patel in Gujarat

Gandhinagar: Governor, Reserve Bank of India (RBI), Dr Urjit Patel today delivered a special lecture in the Gujarat National Law University (GNLU)- on 'Banking Regulatory Powers should be Ownership Neutral' and highlighted some fundamental issues that exist in the regulation of banks, in particular public sector banks (PSBs). While inaugurating the Centre for Law and Economics and as a prelude to the GNLU Conference on Banking and Finance to be held this weekend (17-18 March 2...Read More

RBI ups inflation projection to 4.2-4.6% during second half

October 04, 2017
RBI ups inflation projection to 4.2-4.6% during second half

Mumbai: The Reserve Bank today raised its inflation projection to 4.2-4.6 per cent for the second half of the current fiscal due to firming global oil prices and uncertainty on kharif farm output. RBI in its previous monetary policy in August had projected the Consumer Price Index (CPI) based retail to be in the range of 4-4.5 per cent during second half of 2017-18. "The inflation path for the rest of 2017-18 is expected to be shaped by several factors," RBI said in its fourth bi- monthly ...Read More

99% of junked Rs 500 and 1000 currency notes returned to banks: RBI

August 30, 2017
99% of junked Rs 500 and 1000 currency notes returned to banks: RBI

Mumbai: As much as 99 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, RBI said today, prompting opposition to question the efficacy of the government's unprecedented note ban decision to curb black money and corruption. The Reserve Bank, which has so far shied away from disclosing the actual number of junked currency deposited after November 8 last year, said in its Annual Report for 2016-17 that Rs 15.28 lakh crore of the junked currency had come back in...Read More

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