Please click here to view the DOPT order
The above order is mentioned to refer in the latest clarifications
The above order is mentioned to refer in the latest clarifications
Thursday, December 8, 2016
7th CPC: Finmin gets 2 months more to issue higher allowances notification
“The October-November month is the scheduled for issuing notification for the Finance Ministry, but the time was extended by 2 months because the cash crunch on account of demonetisation, which is taking time to get normality. Therefor,unless the banks can begin to function with a modicum of efficiency, the government will not issue notification on higher allowances to save demonetisation chaos,” the official said.
From now, no OTP will be required for payments under Rs 2,000
In a move that will make it easier for cab aggregators like Uber and Ola and other online merchants to accept cards, the RBI has relaxed two-factor authentication for online payments below Rs 2,000.
The RBI's insistence on a second factor authentication (in the form of a one-time password, or OTP) had prompted cab aggregators to tie up with digital wallets like Paytm. While customers can even now pay by card, they need to wait for a text message containing the OTP before concluding the transaction.In future, if they register with the merchant, they can complete the payment by entering a password authenticated by the card network.
Friday, December 2, 2016
Withdrawal of Legal Tender from SBNs: RBI cautions against Information received on Unsecured/Unofficial Channels
In the wake of withdrawal of legal tender character from the Specified Bank Notes (SBNs), the Reserve Bank of India has, from time to time, been issuing instructions to the banks which are sent directly to banks through an official mail. These are also placed on the Reserve Bank’s official website (https://www.rbi.org.in).
It has been reported that certain guidelines/instructions purported to be issued by the Reserve Bank are being circulated in the social media by some unscrupulous elements creating confusion in the minds of the public/bank personnel.
Indian Postal Service officer under scanner for fraudulent transactions
HYDERABAD: Indian Postal Service (IPoS) officer K Sudheer Babu reportedly made fraudulent cash exchange transactions at different post offices in Greater Hyderabad, according to investigators, in fresh revelations following raids at post offices.
On interrogating Babu, the senior superintendent of post offices, Hyderabad, CBI sleuths found that in addition to exchanging 36 lakh demonetised currency in a fraudulent manner at Himayatnagar sub-post office, in cahoots with his office assistant G Ravi Teja and Himayatnagar sub-postmaster G Revathi, the IPoS officer had also exchanged lakhs of rupees of demonetised currency at other post offices in his jurisdiction.
Thursday, December 1, 2016
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