In a welcome move, the Reserve Bank of India on Wednesday decided to phase out weekly limit on cash withdrawal from savings accounts in two stages, starting from February 20.First, the weekly withdrawal limit for savings accounts
Non-resident Indians (NRIs) can exchange old Rs 500 and Rs 1000 notes till June 30, 2017, the Reserve Bank of India said on Saturday.However, Indian citizens in Nepal, Bhutan, Pakistan and Bangladesh cannot avail this facility.
Denied earlier, the banking regulator, RBI Thursday cleared the much sought restructuring proposal of bank accounts in Jammu & Kashmir submitted by the State Level Bankers Committee through its convener, J&K Bank ltd.
An Islamic Banking window will encourage many from the Muslim community to come forward and invest in projects thereby mobilising huge amount of capital which they may not be willing to put in the banks.
There will be a new moral language: Permanent revolution is always Janus-faced about the virtues of the people. On the one hand, the people can overcome the absence of initial conditions for a revolution. On the other hand.
Further relaxing cash withdrawal norms, the Reserve Bank on Monday said overdraft and cash credit account holders can now withdraw up to Rs 50,000 in a week.Earlier, current account holders were allowed to withdraw up to Rs 50,000 in cash, in a w
In a setback to the loanees of Kashmir valley, who could not recycle their accounts due to the unrest, The Reserve Bank of India has rejected the proposal for restructuring of stressed loans, sent by State Level Bankers Committee.
In this context, former RBI Governor Raghuram Rajan’s comment at a recent banking technology conference is instructive: “Payment systems are the plumbing of the financial system; so long as there is no leakage or clogging,