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2,00,000 CRORE OLD NOTES DEPOSITED IN TWO AND HALF DAYS

Ministry of Finance has reviewed and taken stock of the cash availability and issuance to members of public today. Reserve Bank of India (...
Ministry of Finance has reviewed and taken stock of the cash availability and issuance to members of public today. Reserve Bank of India (RBI), Indian Banks Association (IBA) and a few major banks participated in the review meeting.


A total of over 7 crore transactions have taken place from 9th November upto mid-day of 12th November (i.e. in the last two and a half days) for deposit, exchange of old notes and withdrawal from ATM and over the counter. Old notes of.Rs.500 and 1000 denominations amounting to about Rs. 2 lakh crores have been deposited to banks.

Out of 2 lakh ATMs, about 1.2 lakh are operational. Presently only Rs.100/- notes are being disbursed from the ATMs. Recalibration (requires both software and hardware changes) of ATMs is going on, which will be completed by end of this month/ early December. Other denominations will then be disbursed by ATMs.

There is sufficient cash available with RBI and Banks. They were advised step up the supply of cash to the public.

The availability of cash and issuance of cash to bank branches and Post Offices on a daily basis is being constantly monitored and necessary rebalancing being done for more efficient allocation of banknotes of requisite denominations between different areas. To cater to the requirement of rural areas, Banks were advised to supply notes of smaller denominations (Rs. 100 and less) as well as Rs. 10 coins.

Government agencies are closely monitoring receipt of fake currency notes in Banks and Post Office

One of the primary objectives of cancellation of legal tender character of old series of Rs.500/- and Rs.1000/- notes was to check the menace of terror financing through counterfeit currency notes. The receipt of counterfeits/fake currency notes in Banks and Post Offices are, therefore, being monitored very closely. RBI has been advised by Ministry of Finance to set up a Special Cell to monitor the receipt of fake currency notes and inform such instances to the Economic Offences Wing of the State Police, Intelligence/Enforcement Agencies of the Central Government and also to the Ministry of Finance. A special watch is being kept on receipt of such fake notes in the States bordering our neighbouring countries. The Law Enforcement Agencies have also been advised to maintain close vigil over possible movement of fake currencies and take prompt action as and when such cases are detected by them as well as by RBI and Banks. 

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CRISES,2,success secrets,1,sugam,5,Suggestion on Budget-23,35,Sukanya Samriddhi Account,11,SUPREME COURT,2,SUPREME COURT RENT,7,sur name in pan,1,surcharge cess on tds,4,Surrender-Cancellation of Service Tax Registration,1,survey income tax,5,SWACHH BHARAT CESS,12,swiss bank,1,Systematic Investment Plan,6,tally 7.2,3,tally 9,5,tally easy,3,tally erp9,6,tally recycle bin,3,tally shortcut,10,tally simple,8,tally tips,5,TAN,3,TAN STRUCTURE,1,Tariff Value,1,Tax saving,4,tax accounting standards,4,TAX AMNESTY SCHEME,4,tax benefit from budget,2,TAX CALCULATION,4,TAX CALCULATION 2008-09,1,TAX CALCULATION FORMULA ADDIN EXCEL,2,TAX CALCULATOR,1,tax calculator 10-11,2,TAX CALCULATOR 2008-09,1,tax calculator 2010-11,2,tax calculator after budget 2011,1,tax calculator financial year 10-11,1,tax calculator fy 11-12,1,tax calculator income tax,1,tax collection,3,Tax credit,5,TAX DEDUCTED AT SOURCE CALCULATOR (TDS)2007-08,2,tax deducted at source return etds,3,Tax deduction,8,tax deduction at source 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house,1,valuation of motor car,5,valuation of perquisites,16,valuation of perquisities,11,valuation of rent free house accommodation,5,valuation of works contract 01.07.2012,11,VALUE ADDED TAX,5,VAT,8,vat 11 digit detail,2,VAT ACT,3,VAT AND SERVICE TAX ON SOFTWARE,2,VAT DEFULTERS,1,VAT FORMS,2,VAT LATEST RULES,3,VAT MEANING,1,VAT NUMBER PUNJAB,1,vat on petrol,3,vat rate 4 to 5 %,1,vat rate changes punjab,3,VAT RATES,2,VAT RULES,1,VAT SCHEDULE,1,VAT TDS ON WORK CONTRACT,4,VAT UP AT A GLANCE,1,VCES,7,verified by Visa,3,VERIFY EXCISE CODE,1,verify pan,2,VERIFY SERVICE TAX CODE,7,VERIFY YOUR SERVICE TAX DEPOSIT,1,video,14,VIEW 26AS,7,VIEW YOUR TAX CREDIT,6,view your taxes online,5,Visa,4,VISHAL-REHEJA,1,vodafone,2,WAGES,3,ward circle,2,wealth tax,8,WEBCAST OF BUDGET 2011 ON COMPUTER,2,weighted scientific research deduction,2,what do u mean by micr,2,what does 10 digits of pan card indicates,1,what does each letter in pan number indicate,1,WHAT IS CHEAPER,1,what is company code 0020,1,WHAT 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SIMPLE TAX INDIA: 2,00,000 CRORE OLD NOTES DEPOSITED IN TWO AND HALF DAYS
2,00,000 CRORE OLD NOTES DEPOSITED IN TWO AND HALF DAYS
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SIMPLE TAX INDIA
https://www.simpletaxindia.net/2016/11/200000-crore-old-notes-deposited-in-two.html
https://www.simpletaxindia.net/
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https://www.simpletaxindia.net/2016/11/200000-crore-old-notes-deposited-in-two.html
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