Reserve Bank of India:
- Non Resident Indian and Indian Citizens staying abroad can exchange the demonetized currency notes till June 30, 2017.
- All banks should give 40% of their notes to rural branches to balance inadequate requirement.
- Forex Reserve rise by $360 million dollar by $687 million dollar to $932 million dollar – Press report
- Limit for withdrawal of cash from ATM per day is Rs. 10,000.
- Rs.75 lakh penalty on Bombay Mercantile Co-operative Bank for violation KYC norms and anti-money laundering.
- Education loan will not be considered as Non-Performing Assets and three rounds of extension period ie. Each round not more than 6 months is given.
- Foreign Direct Investment(FDI) cannot be done in non-cooperative countries and territories identified by Financial Action Task Force.
- No cash withdrawal limits from ATM – effective from February 1, 2017.
- 1 billion to Nepal Rashtra Bank in 100 rupees’ denomination.
State Bank of India:
- “SBI Exclusif” launched in Kochi by Venkataraman.
- $50-million-dollar pact with State General Reserve Fund of Oman.
- Waiving of Merchant Discount Rate on debit card transactions up to Rs.20 lakhs up to December 31,2017.
- Coca-Cola tie up with SBI to enhance digital transaction.
- Lending rate cut down by 0.9%.
- Central SBI SELECT co-branded credit cards.
- Tie up with Bajaj Electricals for Block Chain technology.
- YES FINTECH - Collaboration with Anthill and Let’s Talk Payments
Government of India:
- Government of India allocates 3000 crores rupees to help 12 PSU.
- 5 rupees’ discount on LPG cylinder for online payment.
- 16th Financial Stability and Development Council Meeting to eliminate shadow economy and tax evasion- New Delhi.
- Indian Standards on Hallmark gold jewellery - 14,18 and 22 carat hallmark by Bureau of Indian Standard.
- 54.90 crore prize for NITI Aayog lucky draw scheme winners is (3.42 lakh winners) given by National Payment Corporation of India.
GDP growth in India by various Organisations:
- Central Statistical Office, GDP lowers to 7.1% in 2016-17 to 7.6% in 2015-16.
- GDP growth of 8 %- NITI Aayog (Demonetization is not taken into account).
- UN Report- GDP grow by 7.7% in 2017.
- International Monetary Fund estimates the GDP rate of India as 6.6% for 2017-World Economic Outlook Report.
- GDP growth decreased to 7% from 7.6%-World Bank
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