Banking News

Breaking news: Exchange of notes and withdrawl of cash limit increased


After a review by finance ministry the government tonight eased key restrictions including raising daily withdrawal limit from bank counters and ATM as well as increasing the amount of old and now non-operational currency notes that can be exchanged. RBI also ide its notification no.DCM (Plg) No.1272/10.27.00/2016-17 dated November 13, 2016, advised the Banks to make arrangements for separate queues for Senior citizens and Divyang (disabled) persons.

Accordingly, Banks are required  to make arrangements for separate queues for Senior citizens and Divyang (disabled) persons.
There shall be separate queues arranged for  (i)who come to exchange SBN for cash and (ii) those who come to deposit into bank accounts.
Banks are also advised to increase the Business Correspondents’ limit of dispensing cash to ₹ 2500/- for withdrawal from bank accounts.
The above modifications take immediate effect.

 

Also, the last date for submission of the annual life certificate for the government pensioners which is to be submitted in November every year has been extended up to January 15, 2017.

 

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