Articles tagged under: RBI
October 04, 2017
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
August 30, 2017
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
August 23, 2017
New Delhi: The government of India today gave its go-ahead to the Reserve Bank to issue Rs 200 notes that will ease pressure on lower-denomination currency bills. The new Rs 200 notes are likely to be in circulation shortly.
The finance minisatry, in a notification, said that on the recommendations of the Central Board of Directors of the RBI, "the central government hereby specifies the denomination of banknotes of the value of two hundred rupees".
The exercise of printing Rs 200 denomina...Read More
August 18, 2017
New Delhi: Reserve Bank of India on Friday said it will ‘shortly’ issue Rs 50 denomination banknotes in Mahatma Gandhi (new) series.
“The new denomination has motif of Hampi with Chariot on the reverse, depicting the country’s cultural heritage. The base colour of the note is Fluorescent Blue. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse. All the banknotes in the denomination of Rs 50/- issued by the Reserve Ba...Read More
July 07, 2017
New Delhi:Customers will not suffer any loss if unauthorised electronic banking transactions are reported within three days and the amount involved will be credited in the accounts concerned within 10-days, the Reserve Bank of India said on Thursday.
In case the third party fraud is reported with a delay of four to seven working days, a customer will face liability of up to Rs 25,000.
However, in cases where the loss is due to negligence by the account holder (such as sharing of payment cr...Read More
May 30, 2017
Mumbai: New one rupee notes with predominantly pink-green on obverse and reverse in combination with other colours will be soon put into circulation.The notes bearing the rupee symbol have been printed by the Government of India. At present, one rupee coins are minted. Printing of one rupee notes was discontinued in 1994 but was relaunched in 2015.
"The Reserve Bank of India will soon put into circulation currency notes in one rupee denomination," the central bank said in a statement.
The ...Read More
May 27, 2017
Mumbai: On the third anniversary of Shri Narendra Modi led BJP government in the Centre, the country's forex reserves rose by a whopping USD 4.036 billion to life-time high of USD 379.310 billion in the week ended May 19, helped by a surge in the foreign currency assets. Foreign currency assets (FCAs), a major component of the overall reserves, increased by USD 3.996 billion to USD 355.097 billion in the reporting week, RBI said. Expressed in US dollar terms, FCAs include the effects of apprecia...Read More
February 20, 2017
Ahmedabad: The weekly limit on withdrawal of cash from savings bank accounts is now Rs 50,000 from today. It was Rs 24,000 earlier. The provision of limit will be removed from March 13.
"Effective February 20, 2017, the limits from cash withdrawal from savings bank accounts will be enhanced to Rs 50,000 per week from the current limit of Rs 24,000 per week (and) effective March 13, 2017, there will be no limits prescribed by RBI on cash withdrawal from savings bank accounts."
The Governmen...Read More
February 08, 2017
Mumbai: Reserve Bank of India has decided to withdraw the limit on cash withdrawal from savings accounts in two stages. From 20 February, the limits of cash withdrawal will be enhanced from Rs 24,000 at present to Rs 50,000 per week. From 13 March there will be no limit on cash withdrawal from savings bank accounts. This announcement was made by Deputy Governor Gandhi today.
January 30, 2017
Mumbai: The Reserve Bank of India or RBI today said it has lifted a limit on daily cash withdrawal from current accounts, cash credit accounts and overdraft accounts with immediate effect. It said restrictions on ATM withdrawals would be lifted from Wednesday, February 1. Curbs on withdrawing cash from savings bank accounts would however continue for now and are "under consideration for withdrawal in the near future," the central bank said.
- Limits placed vide the circulars cited above on ...Read More
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