Tag Archives: RBI
Cash Withdrawal Limit To Be Rs 50,000; No Limit From March: RBI
The Reserve Bank of India (RBI) today said that the weekly withdrawal limit for savings account will be raised to Rs 50,000 from February 20 that is limited to Rs 24,000 per day post demonetisation. The top bank added that limitations on cash withdrawal, which was put in place after November 8, 2..
RBI Will Soon Circulate New 100 Rs Notes; What About Old Notes?
The Reserve Bank of India (RBI) will soon put into circulation new Rs 100 banknotes which will be similar to the design of the ones in Mahatma Gandhi Series-2005. “The Reserve Bank will shortly issue Rs 100 denomination banknotes in the Mahatma Gandhi Series-2005, with the inset letter R in bot..
RBI Cautions Against Use Of Bitcoins, Other Virtual Currencies
The Reserve Bank of India (RBI) has cautioned the users of virtual currencies, including bitcoins, pointing out that it has not issued any licence or authorisation to any company to trade in these and that the users are doing it at their own risk. "The Reserve Bank of India advises that it has no..
Demonetisation: Withdrawal Limit Restrictions Will Be Waived By February-end
With the cash crunch situation easing, Reserve Bank may do away with the weekly withdrawal limits from banks as well as ATMs by the end of next month, bankers said. The RBI had recently raised the ATM withdrawal limit to Rs 10,000 a day but maintained the weekly cap at Rs 24,000 for saving account a..
‘Where Are The Fake Notes? Even RBI Doesn’t Know’
The Reserve Bank of India has admitted it has no confirmed data of the number or value of fake currencies detected since the demonetisation of Rs 500 and Rs 1,000 notes, a RTI query has revealed. "We presently don't have the confirmed data on this query," said a reply from the RBI's Department of..
Note Ban Talks Began Early Last Year: Urjit Patel To Parliamentary Panel
Reserve Bank of India Governor Urjit Patel is learnt to have told the parliamentary panel on demonetisation that discussions between the central bank and the government on the process began early last year. Congress members of the committee asked questions like whose decision was it to withdraw h..
Congress Workers Gherao RBI Office To Protest Demonetisation
Hundreds of Congress party protesters gheraoed the RBI office here on Wednesday with slogans denouncing demonetisation and the Centre's role in "destruction of the RBI's autonomy". The agitators vented their anger against the BJP-led government for "expropriation of power" from the central bank a..
RBI Hikes ATM, Current Account Withdrawal Limits
The RBI on Monday hiked the daily ATM withdrawal limit from Rs 4,500 to Rs 10,000 and the weekly Current Account withdrawal limit from Rs 50,000 to Rs 1 lakh. The withdrawals from ATMs will be operative within the existing overall weekly limit of Rs 24,000, a Reserve Bank of India communique said..
RBI’s Own Figures Indicate Return Of 15 Lakh Crore Of Banned Notes
Despite the Reserve Bank of India dismissing reports that suggested 97 per cent of the demonetised currency had returned to the bank's coffers by December 30, its own weekly figures on "currency in circulation" indicate that this number is correct. These figures, in fact, suggest that only Rs 54,..
Danger To Life Of Person Who Discloses Information On Demonetised Notes: RBI
The Reserve Bank of India (RBI) has refused to divulge details regarding the number of demonetised notes already at banks on the evening of November 8, the day on which Prime Minister Narendra Modi announced a ban on currency of Rs 500 and Rs 1000. Responding to an RTI query, the RBI claimed an e..