{"id":85761,"date":"2016-11-16T09:42:20","date_gmt":"2016-11-16T04:12:20","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=85761"},"modified":"2016-11-16T09:42:20","modified_gmt":"2016-11-16T04:12:20","slug":"rbi-dccbs-can-allow-existing-customers-to-withdraw-up-to-rs-24000-from-their-accounts","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/16\/rbi-dccbs-can-allow-existing-customers-to-withdraw-up-to-rs-24000-from-their-accounts\/","title":{"rendered":"RBI: DCCBs can allow existing customers to withdraw up to Rs 24,000 from their accounts"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Withdrawal of Legal Tender Character of existing Rs 500\/- and Rs 1000\/- Bank Notes \u2013 Applicability of the Scheme to DCCBs<\/strong><\/p>\n<p style=\"text-align: justify;\">Please refer to our\u00a0Circular No. DCM (Plg) No.1226\/10.27.00\/2016-17 dated November 08, 2016\u00a0on the captioned subject. It is clarified that District Central Cooperative Banks can allow their existing customers to withdraw money from their accounts up to 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.<\/p>\n<p style=\"text-align: justify;\">2. All banks are advised 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.<\/p>\n<p style=\"text-align: right;\">Reserve Bank of India<\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>Withdrawal of Legal Tender Character of existing Rs 500\/- and Rs 1000\/- Bank Notes \u2013 Applicability of the Scheme to DCCBs Please <\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[],"class_list":["post-85761","post","type-post","status-publish","format-standard","hentry","category-hot_off_the_press","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBI: DCCBs can 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Updated FAQs on Withdrawal of Specified Bank Notes","author":"Saba","date":"November 16, 2016","format":false,"excerpt":"FAQs on Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of Rs 500\/- and Rs 1000\/-\u00a0[Updated as on November 16, 2016] 1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85391,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/14\/finance-ministry-reviews-position-of-availability-and-distribution-of-all-denomination-of-bank-notes\/","url_meta":{"origin":85761,"position":1},"title":"Finance Ministry reviews position of availability and distribution of all denomination of bank notes","author":"Saba","date":"November 14, 2016","format":false,"excerpt":"Finance Ministry reviews the position regarding availability and distribution of all denomination of bank notes in different parts and regions of the country; Issuance of the new series of Rs. 500\/- notes commenced; Instructions issued to the Banks and Post Offices to ensure proper distribution of all denomination notes including\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85711,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/17\/demonetisation-expanding-distribution-locations-for-deposit-withdrawal-of-cash\/","url_meta":{"origin":85761,"position":2},"title":"Demonetisation: Expanding distribution locations for deposit &#038; withdrawal of cash","author":"Saba","date":"November 17, 2016","format":false,"excerpt":"Please refer to our\u00a0Circular No. DCM (Plg) No.1226\/10.27.00\/2016-17 dated November 08, 2016\u00a0on the captioned subject. With a view to widen the existing facilities to exchange\/deposit the specified bank notes and withdraw cash from their accounts, banks are advised to put in place the following additional measures so that member public\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85351,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/14\/demonetisation-cash-withdrawal-limit-enhanced-to-rs-2500-at-atms-notified\/","url_meta":{"origin":85761,"position":3},"title":"Demonetisation: Cash withdrawal limit enhanced to Rs 2500 at ATMs, notified","author":"Saba","date":"November 14, 2016","format":false,"excerpt":"S.O. 3446(E).\u2014In exercise of the powers conferred by sub-section (2) of Section 26 of the Reserve Bank of\u00a0India Act, 1934 (2 of 1934), the Central Government hereby amends the notification of the Government of India, in the Ministry of Finance, Department of Economic Affairs number S.O. 3407(E) dated the 8th\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84291,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/09\/government-notification-of-demonitisation-of-rs-500-and-rs-1000-notes\/","url_meta":{"origin":85761,"position":4},"title":"Government Notification of demonitisation of Rs 500 and Rs 1000 notes","author":"Saba","date":"November 9, 2016","format":false,"excerpt":"S.O. 3407(E).-\u00a0Whereas, the Central Board of Directors of the Reserve Bank of India (hereinafter referred to as the Board) has recommended that bank notes of denominations of the existing series of the value of five hundred rupees and one thousand rupees (hereinafter referred to as specified bank notes) shall be\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87081,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/22\/cash-withdrawal-for-wedding-restricted-to-rs-2-5-lakhs-along-with-stiff-conditions\/","url_meta":{"origin":85761,"position":5},"title":"Cash withdrawal for wedding restricted to Rs 2.5 lakhs along with stiff conditions","author":"Saba","date":"November 22, 2016","format":false,"excerpt":"Please refer to our\u00a0Circular No. DCM (Plg) No.1226\/10.27.00\/2016-17 dated November 08, 2016\u00a0on the captioned subject. 2. With a view to enable members of the public to perform and celebrate weddings of their wards it has been decided to allow higher limits of cash withdrawals from their bank deposit accounts to\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/85761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=85761"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/85761\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=85761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=85761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=85761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}