Tag: Rbi

It is pertinent to mention here that the RBI had announced the withdrawal of the Rs 2,000 banknotes from circulation through a notification issued on May 19, 2023.

The Central bank, in a statement, said that the star symbol is an identification mark denoting that it is a replaced or reprinted banknote.

The Reserve Bank of India (RBI) on Monday said in a statement that most of these notes have returned through deposits.

AP Mahesh Cooperative Urban Bank fined Rs 65 lakh by RBI for cybersecurity lapses leading to a Rs 12.48 crore online robbery. Lack of essential security measures revealed.

Bringing down inflation and stabilising inflation expectations will revive consumer spending, boost corporate revenues and profitability, which is the best incentive for private capex," the bulletin's article on "State of the Economy" said.

This is the fourth straight month when retail inflation has declined and the third straight month of Consumer Price Index (CPI) based inflation remaining within the RBI's comfort zone of below 6 per cent.

This could soon become a possibility if the RBI accepts the recommendations of a high level committee, which it had formed in May last year to review customer service standards in banks and other lending institutions.

Cryptocurrency markets are taking hits from all sides -- from declines in value, lawsuits, and regulatory threats -- which is eroding the confidence of many to either invest in or trade in cryptocurrencies.

Das said the MPC met on June 6th, 7th and 8th.

"It is necessary that boards and managements do not allow such gaps to creep in," Das said at a conference of banks' directors organised by the RBI in Mumbai.

As per SBI’s latest notification, special arrangements have been made for exchanging the big denomination currency notes with small denomination notes at around 890 branches across Odisha. 

A division bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad said: "We will pass appropriate orders."

RBI's withdrawal of Rs 2,000 notes affects Zomato; 72% of customers used them for cash orders. Gold-buying increases; public can exchange notes as usual.

The existing income tax requirement of furnishing PAN for deposits of Rs 50,000 or more in bank accounts will continue to apply for deposits of the withdrawn 2000 rupee notes, said RBI Governor Shaktikanta Das.

Speaking to reporters for the first time since the surprise decision to withdraw the highest denomination currency note was announced, Das said the decision was part of currency management.