Page-2 of Demonitisation

RBI to introduce new 20 & 50 rupee currency notes

December 5, 2016

The Reserve Bank of India (RBI) is going to issue new currency notes of Twenty and Fifty rupees denomination in the Mahatma Gandhi Series-2005. All old the previous currency notes of old Rs. 20 and Rs. 50 denomination issued by ..

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Andhra Pradesh CM N Chandrababu Naidu to head CMs Committee on Demonetisation

November 29, 2016

The Union Government has decided to constitute a sub-committee of Chief Ministers of five states in the wake of demonetisation of Rs 500 and Rs 1,000 denomination notes. The committee will be headed by Andhra Pradesh CM N Chandrababu Naidu. ..

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RBI introduces incremental CRR to manage excess liquidity in banking system

November 28, 2016

The Reserve Bank of India (RBI) has introduced an incremental Cash Reserve Ratio (CRR) of 100% for fortnight to absorb excess liquidity in the banking system following demonetisation. CRR is the proportion of deposits that banks have to keep as ..

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Union Government constitutes Amitabh Kant Committee to push cashless transactions

November 26, 2016

The Union Government has constituted a new committee to form a strategy to expedite the process of transforming India into a cashless economy. The committee will be headed by Niti Aayog CEO Amitabh Kant. It has been tasked with identifying ..

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NABARD to disburse Rs 21,000 crore to farmers for Rabi Season

November 24, 2016

The Union Government has allowed National Bank for Agriculture and Rural Development (NABARD) to disburse Rs 21,000 crore to help cash-starved farmers to sow Rabi crops. The money will be disbursed by NABARD to District Central Cooperative Banks (DCCBs) which ..

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RBI doubles cap on PPIs to Rs. 20,000

November 23, 2016

The Reserve bank of India (RBI) has increased the per month limit of Prepaid Payment Instruments (PPIs) to Rs. 20,000 from Rs. 10,000 and to Rs. 50,000 for merchant bank. This decision was taken due to sudden increase in demand ..

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