Finance News

What is RBI’s ‘Clean Note Policy’, why are notes being withdrawn under it The Reserve Bank of India (RBI) has decided to withdraw the Rs 2,000 note after only seven years of circulation under the ‘Clean Note Policy’. While existing notes will continue to hold legal tender, here is all you need to know about RBI’s Clean Note Policy and ...

RBI asks banks to keep daily data on exchange, deposit of Rs 2,000 notes SC upholds demonetisation, says test of proportionality satisfied Provide adequate infra at branches for Rs 2,000 note exchange: RBI to banks RBI withdraws Rs 2,000 currency notes: Here’s all you need to know RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast ...

Provide adequate infra at branches for Rs 2,000 note exchange The facility to exchange Rs 2,000 banknotes across the counter should continue as it was earlier and banks must provide appropriate infrastructure at all branches to customers, the Reserve Bank of India (RBI) said in a notification on Monday. It said that the note will continue to remain legal ...

SBI slow in procurement from GeM portal; lags behind smaller counterparts India’s largest lender SBI was quite slow in procuring goods and services from government-owned GeM portal in 2022-23 and lagged behind smaller counterparts, including Canara Bank and Punjab National Bank, according to the government data. Canara Bank emerged as the largest buyer among the state-owned lenders in ...

Public sector banks’ total profit crosses Rs 1 trn-mark in 2022-23 Public sector banks’ cumulative profit crossed the Rs 1 lakh crore-mark in the financial year ended March 2023, with market leader State Bank of India (SBI) accounting for nearly half of the total earnings. From posting a total net loss of Rs 85,390 crore in 2017-18, the ...

What to do if a bank refuses to exchange or accept your Rs 2,000 note? The Reserve Bank of India (RBI) on Friday announced that it has withdrawn Rs 2,000 notes from circulation, and asked bank customers to deposit the notes or exchange them at any bank branch before September 30, 2023. The RBI in its press release has ...

State Bank of India sets Rs 2,000 currency note exchange cap at Rs 20,000 What’s capping rally in SBI shares despite record net profit in Q4FY23? NIM expansion, loan growth: Top 5 things to track in SBI’s Q4FY23 results What to do if a bank refuses to exchange or accept your Rs 2,000 note? SBI Q3 profit may rise nearly ...

Here’s what RBI’s decision to scrap the Rs 2,000 note mean for the economy India will withdraw its highest denomination currency note from circulation, the central bank said on Friday. The 2000-rupee note, introduced into circulation in 2016, will remain legal tender but citizens have been asked to deposit or exchange these notes by Sept. 30, 2023. The ...

Here’s why RBI has withdrawn Rs 2,000 notes and what you should do next The Reserve Bank of India on Friday announced the withdrawal of the Rs 2,000 currency note, while adding it will continue to be legal tender. The RBI has asked citizens to deposit Rs 2,000 notes in their accounts or get them exchanged at banks from ...

Rs 2,000 notes withdrawn, firms on wait-&-watch mode & more Top Headlines: Govt asks P&W to supply engines, stricter Sebi norms & more Top 5 headlines: MSCI drops 2 Adani firms, Twitter to get new CEO and more Top Headlines: Adani to consider stock sale, shell firms under tax scanner Top 5 headlines: Windfall tax slashed on petroleum crude, IBM ...