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Specified Notes Confiscated on or before 30.12.2016 can be deposited in any of the RBI branches: Govt notifies Rules

Taxscan Team

The Department of Economic Affairs recently notified rules regarding deposit of Rs. 1000 and Rs. 500 Currency Notes confiscated on or before...

GST implementation to have far reaching implications for Indian Economy: RBI unveils State Finances...

RBI to setup a separate Enforcement Department: Proposed to be Opened on April 3

RBI directs closure of Payment Systems including RTGS and NEFT on April 1 [Read Circular]

CBEC extends E-Payment of Service Tax till Midnight of March 31st [Read Circular]

Legality of E-Wallets: Bombay HC directs RBI to Respond to Concerns

Recently, the Bombay High Court, while hearing a PIL challenging the legality of e-wallets, asked the Reserve Bank of India to respond to the concerns relating to the issue. The petitioner, KS...

NBFC cannot disburse more than Rs 20K in Cash against Gold Loans, says RBI [Read Notification]

The Reserve Bank of India yesterday issued notification on Disbursal of loan amount in cash. The Non-Banking Finance Companies (NBFC) cannot disburse more than Rs 20,000 in cash against gold loans,...

Government notifies The Specified Bank Notes (Cessation of Liabilities) Act, 2017 [Read the Act]

The Central Government has notified The Specified Bank Notes (Cessation of Liabilities) Act, 2017. The Act aims at formal banning of Rs 500 and Rs 1,000 which had been already scrapped by the Union...

Declarants can make Deposits on One or more occasions under PMGKDS, 2016

Government amends Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 The Government of India, in consultation with the Reserve Bank of India (RBI), had notified Pradhan Mantri Garib Kalyan...

RBI gives freedom to Banks to fix Bank Service Charges for Transactions

In a major move to promote cashless transactions in the country, the Reserve Bank of India has given banks the freedom to fix bank service charges for transactions. The RBI has deregulated interest...

No Limits on Cash Withdrawals from Current Accounts/ Cash Credit accounts/ Overdraft Accounts: RBI

Restrictions on Withdrawal of Rs 24,000 a week from savings Bank Account will continue for now. The RBI today has withdrawn Limits on Cash withdrawals from Current accounts/ Cash credit accounts/...

RBI bans making direct investments in ‘Non Co-operative Countries and Territories’ [Read Notification]

The Reserve Bank of India has prohibited Indian Party from making direct investments in countries identified by the Financial Action Task Force (FATF) as “Non Co-operative countries and territories”. ...

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