SC: Public Premises Act Prevails over State Rent Laws For Evicting Unauthorised Occupants || SC: Doctors Were Unwavering Heroes in COVID-19, and Their Sacrifice Remains Indelible || SC Sets Up Secondary Medical Board to Assess Passive Euthanasia Plea of Man in Vegetative State || NCLAT: Amounts Listed As ‘Other Advances’ in Company’s Balance Sheet aren’t Financial Debt under IBC || NCLT Ahmedabad: Objections to Coc Cannot Bar RP From Challenging Preferential Transactions || J&K&L HC: Courts Should Exercise Caution When Granting Interim Relief in Public Infrastructure Cases || Bombay HC: SARFAESI Sale Invalid if Sale Certificate is Not Issued Prior to IBC Moratorium || Supreme Court: Police May Freeze Bank Accounts under S.102 CrPC in Prevention of Corruption Cases || SC: Arbitrator’s Mandate Ends on Time Expiry; Substituted Arbitrator Must Continue After Extension || SC: Woman May Move Her Department’s ICC For Harassment by Employee of Another Workplace

DCCBs can allow existing customers to withdraw upto Rs. 24,000 from their accounts : RBI- (Reserve Bank of India) (14 Nov 2016)

MANU/RPRL/0288/2016

Banking

The Reserve Bank of India has today clarified that District Central Cooperative Banks (DCCBs) can allow their existing customers to withdraw money from their accounts upto Rs. 24,000 per week upto November 24, 2016. However, no exchange facility against the specified bank notes (Rs. 500 and Rs. 1000) or deposit of such notes should be entertained by them. The Reserve Bank has accordingly advised all banks to permit withdrawal of cash by DCCBs from their accounts based on need. The cash withdrawal limit of Rs. 24,000 per week is not applicable to withdrawal of cash by a DCCB from its account with any other bank.

Tags : WITHDRAWAL LIMITS ALLOWABILITY

Share :