Tag Archive for 'Bank'

Issue of Rs. 500 banknotes inset letter ‘E’ in Mahatma Gandhi (New) Series

Reserve Bank of India  Press Releases  Date : Nov 08, 2016 Issue of Rs. 500 banknotes inset letter ‘E’ in Mahatma Gandhi (New) Series The Reserve Bank of India will shortly issue Rs. 500 denomination banknotes in Mahatma Gandhi (New) Series with inset letter ‘E’ in both the number panels, bearing the signature of Dr. Urjit […]

New norms to deal with cheque bounce cases

The government has notified the Negotiable Instruments (Amendment) Bill, 2015 which allows filing cheque bounce cases in a court at a place where the cheque was presented for clearance and not the place of issue. The Negotiable Instruments (Amendment) Bill, 2015 was passed by Parliament in the recently concluded Winter Session. “The provisions of the […]

RBI prescribes measures for banks to prevent cheque frauds

In view of the rise in the number of cheque related fraud cases, the Reserve Bank of India has asked banks to put in place preventive measures including sending an SMS alert to payer/drawer when cheques are received in clearing. Further, to prevent cases of suspicious or large value cheques (in relation to an account’s […]