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Monday, 21 November 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 gotten 5.45 trillion rupees or 80 billion dollars in 500 and 1000 rupee notes from November 10 to 18, after the administration chose to pull back high esteem bills to dispense with dark or untaxed cash and fake coin.

Here are the 5 most recent advancements in this real issue:

1-The sum incorporates 5.12 trillion rupees ($75.1 billion) in bank stores and 33,000 crore rupees ($ 4.85 billion) in return of old notes with new ones. The administration had nullified 500 and 1000 rupee notes on November 8.

2-The national bank has likewise made a progression of declarations today, in one, permitting banks to give borrowers an extra 60 days for reimbursement of lodging, auto, cultivate and different credits under one crore.

3-The RBI said banks and different lenders will get an extra 60 days for perceiving these credits as non-performing resources or substandard. The unwinding will apply to levy payable between November 1 and December 31, it said.

4-The RBI has likewise facilitated money withdrawal rules for organizations, saying overdraft and money credit account holders can now pull back up to Rs. 50,000 in a week now.

5-It had prior permitted just current record holders to pull back Rs. 50,000 in a week. The national bank said this would be took into account accounts that have been operational throughout the previous three months. Individuals can pull back Rs. 24,000 a week from their investment account.

Source:- NDTV

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