REGISTER SHOULD BE MAINTAINED FOR THE LEGAL TENDER NOTES DEPOSITS - RBI GUIDELINES

Respected Sir/Madam,

Please find attached the RBI Notification regarding relaxation in the limit of withdrawal of cash from bank deposit accounts. The instructions of RBI stipulates that withdrawals may be allowed for deposits made in current legal tender notes on or after 29.11.2016 beyond the current limits preferably, available higher denomination bank notes of Rs. 2000/- and 500/- are to be issued for such withdrawals. 

This instructions of RBI is applicable only for those depositors who deposits valid legal tender notes and seeking withdrawal, for whom the current limit of (Rs. 24000/-) is relaxed. 

The following are the procedure to be followed:-

1.The withdrawal exceeding the current limits may be allowed only in the home SOL of the account holder.

2.The Finacle application should validate the withdrawals exceeding the limit for those depositors who deposit the current legal tender notes on or after 29.11.2016. For this purpose a Patch needs to be deployed.

3.The counter PA should maintain a separate register for entering details of such deposit transactions.

The proforma of the register is as follows:-

S.No. Date Name of the Account Holder SB Account Number Amount Deposited through current legal tender notes Deno. of legal tender notes Counter PA Sign. PM/SPM/ Counter Supervisor Signature, Date and amount of withdrawal, if any

4. The depositors who are depositing current legal tender notes on or after 29.11.2016 should write the denomination of currency notes on the pay in slip.

5. After acceptance of deposit by post office, the concerned PA should acknowledge the tendering of currency notes on the back side of the counterfoil of the pay in slip and write the Sl. No. of the entry in above mentioned register.

6. While allowing withdrawal the Counter PA should consult the prescribed Register and make necessary entries for the cash withdrawal from the respective account.

7. Counter PA should maintain the details of cash received and remitted to Treasurer separately for WOS Notes and Current Legal Notes.

CEPT team/FSI vendor is requested to put in place necessary validation by deploying a Patch in Finacle application. Further detail will be intimated in due course. 

In the meanwhile, necessary instructions may be issued to all concerned. 

With regards,

Sachin Kishore

Director (CBS)

Sansad Marg,

Dak Bhavan

Hon'ble CAT Ernakulam Bench directed Department to hold examination separately for each vacancy year

Cabinet moves in to tax post demonetisation deposits.

The Union Cabinet on Thursday night is believed to have discussed amending laws to levy close to 60 per cent income tax on unaccounted deposits in banks above a threshold post demonetisation of high-denomination currency notes.

The move comes amid banks reporting over Rs. 21,000 crore being deposited in zero-balance Jan Dhan accounts in two weeks after the Rs. 500 and Rs. 1,000 notes were banned, which authorities apprehend may be the laundered black money.

There was no official briefing on what transpired in the meeting that was called at short notice as Parliament is in session. Traditionally, there could no disclosures outside on any policy decision taken during the sitting of Parliament.

Withdrawal of cash from bank deposit accounts - Relaxation

RBI/2016-17/163

DCM.No.1437/10.27.00/2016-17

November 28, 2016

The Chairman / Managing Director/ Chief Executive Officer,

Public Sector Banks/ Private Sector Banks / Foreign Banks / 

Regional Rural Banks / Urban Cooperative Banks/

State Cooperative Banks/ District Central Cooperative Banks

Dear Sir,

Withdrawal of cash from bank deposit accounts - Relaxation

LDCE : PS Gr 'B' Examination Material compiled by Sri C C Chaluvaraya Assistant Manager (ASP) CEPT Mysore....

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Directorate directed circles not to issue admit cards for PS Gr. B examination but preparatory work continue

Subject: PS Group B Exam to be held on 04.12.2016

Respected Sir/Madam,

This is regarding conduct of the P.S. Group B Examination scheduled to be held on 04.12.2016

2. It is informed that CAT Ernakulam Bench has issued following directions dated 24.11.2016 in OA No. 180/953/2016 filed by Sh. Ajith Kurian, ASP, CO Kerala and others:-

Minimum Balance in Savings Accounts

Reserve Bank of India (RBI) vide its circular dated August 10, 2012 on Financial Inclusion – Access to Banking Services – Basic Saving Bank Deposit Account, advised all Scheduled Commercial Banks to offer a ‘Basic Savings Bank Deposit Account’ which shall not have the requirement of any minimum balance. In terms of aforesaid circular, banks have been advised to offer Facility of ATM card or ATM-cum-Debit Card to all BSBD account holders without any charges.

7th Pay Commission: Enhanced allowances with arrears to be paid in January

New Delhi: The government is going to pay of enhanced allowances to its 4.8 million central government employees according to 7th Pay Commission recommendations in January along with five months arrears, when situation will return to normalcy after cash crunch period.

The payments will be made after cabinet nod following the the committee on allowances report, the finance ministry source said.

Meager financial Benefit of 14% in 7th CPC - Parliament Q & A

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

LOK SABHA

UNSTARRED QUESTION NO: 1755

ANSWERED ON: 25.11.2016

Meager Benefits of 7th CPC

PINAKI MISRA
Will the Minister of

FINANCE be pleased to state:-

(a) whether the Government employees got only a meager financial benefit of 14 per cent or less after implementation of 7th CPC;

(b) if so, the details of percentage of salary they got before and after implementation of Seventh CPC and the reasons for such meager hike in their salaries; and

Goa will be First State to go Cashless from December 31, 2016

Highlights

While cash transactions are not being banned, the move is to encourage a cashless society. 

People will be able to buy perishables such as fish, meat, vegetables or anything else at the press of a button on their mobile.

PANAJI: Goa is likely to become the first state in India to go cashless from December 31, as people will be able to buy perishables such as fish, meat, vegetables or anything else at the press of a button on their mobile.