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RBI Act News
Have Rs 200, Rs 2000 notes? There is a problem and here is why you should worry
Mon, May 14, 2018
Rs 2,000 notes were issued soon after demonetisation of Rs 500 and Rs 1000 notes was announced on November 8, 2016. Rs 200 notes were launched in August, 2017. There are about Rs 6.70 lakh crore of Rs 2,000 notes in circulation and the Reserve Bank of India has stopped printing fresh ones, economic affairs secretary Subhash C Garg stated on April 17. Bankers say there have been a few cases of mutilated notes coming up in the new series but they added that this could become an issue if the concerned law is not amended soon.
Under Urjit Patel, RBI zooms in on 4% inflation target
Mon, May 08, 2017
The pursuit of the 4% target will likely continue to remain a source of disagreement between the RBI and some market players, even as investors begin to adjust to a more hawkish monetary policy.
Cash transaction limit proposed to be cut to Rs 2 lakh from Rs 3 lakh
Wed, Mar 22, 2017
In yet another move to curb black money in India, the government on Tuesday proposed a fresh ceiling of Rs 2 lakh on cash transactions, which is lower than the Rs 3 lakh proposed in Budget 2017-18.
Government to amend RBI Act to annul old Rs 500, Rs 1000 currency notes
Sun, Dec 11, 2016
The government is likely to amend the Reserve Bank of India (RBI) Act to extinguish the validity of Rs 500 and Rs 1,000 notes printed before November 9 and a reference to this effect would be made in the upcoming Budget 2017-18.