Monday, November 21, 2016

Banks Have Received $80 Billion In 500, 1000 Notes, Says RBI: 5 Points

NEW DELHI: The Reserve Bank of India today said banks have ended up 5.45 trillion rupees or 80 billion dollars in 500 and 1000 rupee notes from November 10 to 18, after the association together pulled back high respect bills to dispose of reduce or untaxed cash and fake coin.

Here are the 5 most recent movements in this fundamental issue:

1-The whole wires 5.12 trillion rupees ($75.1 billion) in bank stores and 33,000 crore rupees ($ 4.85 billion) along these lines of old notes with new ones. The conspiracy had invalidated 500 and 1000 rupee notes on November 8.

2-The national bank has furthermore propelled a change of expressions today, in one, permitting banks to give borrowers an extra 60 days for reimbursement of inn, auto, make and orchestrated credits under one crore.

3-The RBI said banks and fluctuating moneylenders will get an extra 60 days for seeing these credits as non-performing resources or substandard. The loosening up will apply to right payable between November 1 and December 31, it said.

4-The RBI has in like way fortified money withdrawal rules for affiliations, saying overdraft and money credit account holders can now pull go down to Rs. 50,000 in a week now.

5-It had prior permitted beginning late current record holders to pull back Rs. 50,000 in a week. The national bank said this would be considered records that have been operational all through the previous three months. Individuals can pull back Rs. 24,000 a week from their wind account.

Source:- NDTV
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