Share a knowledge Initiative

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Issue of Re. 1 denomination currency notes with Rupee symbol (₹) and the inset letter ‘L’

The Reserve Bank of India will soon put into circulation currency notes in one rupee denomination. The notes have been printed by the Government of India. These currency notes are legal tender as provided in The Coinage Act 2011. The existing currency notes in this denomination in circulation will also continue to be legal tender. … Continue reading Issue of Re. 1 denomination currency notes with Rupee symbol (₹) and the inset letter ‘L’

ED raids offices of 34 chartered accountants in New Delhi

The Enforcement Directorate (ED) is carrying out a first-of-its-kind raids in New Delhi on the offices of professionals like chartered accountants and company secretaries for allegedly providing a legitimate cover to shell companies. The CAs and CSs are accused of helping shell companies convert black money in to white. They allegedly help shell companies by … Continue reading ED raids offices of 34 chartered accountants in New Delhi

List of valid e-wallets and pre-paid cards Banks

List of banks permitted to issue pre-paid cards in India as on March 03, 2017 S No. Name of the Banks 1 Airtel Payments Bank Ltd. 2 Allahabad Bank 3 American Express Banking Corporation 4 Andhra Bank 5 Au Small Finance Bank Limited 6 Axis Bank Limited 7 Bank of Baroda 8 Bank of India … Continue reading List of valid e-wallets and pre-paid cards Banks

Enhancement of withdrawal limits from ATMs and Current Accounts

RBI/2016-17/213 DCM (Plg) No.2559/10.27.00/2016-17 January 16, 2017 The Chairman / Managing Director / Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks Dear Sir, Enhancement of withdrawal limits from ATMs and Current Accounts Please refer … Continue reading Enhancement of withdrawal limits from ATMs and Current Accounts

Aadhaar Payment App -Government Initiative

The government is coming up with an 'Aadhaar Payment App' that could silence digital payments critics. The new app would do away with plastic cards and the point of sale machines once believed to be essential for a less cash society. The app would eliminate the fee payments for service providers like card companies such … Continue reading Aadhaar Payment App -Government Initiative

Interest Subvention Scheme for Short Term Crop Loans during the year 2016-17

RBI/2016-17/194 FIDD.No.FSD.BC. 19/05.04.02/2016-17 December 26, 2016 To, The Chairman / Managing Director All Public & Private Sector Scheduled Commercial Banks Dear Sir/Madam Interest Subvention Scheme for Short Term Crop Loans during the year 2016-17- Grant of grace period of 60 days beyond due date As you are aware the Government of India (GoI) has been … Continue reading Interest Subvention Scheme for Short Term Crop Loans during the year 2016-17