RBI Officer Grade B Recruitment 2018 – Online Application

RBI Officer Grade B Recruitment 2018 – Online Application

RESERVE BANK OF INDIA SERVICES BOARD, MUMBAI
Advt.No. 6A /2017-18
(This advertisement and the link to apply Online can be accessed on RBI Website www.rbi.org.in) 

RESERVE BANK OF INDIA – DIRECT RECRUITMENT FOR THE POSTS IN COMMON SENIORITY GROUP (CSG) STREAMS – PANEL YEAR 2018
 IMPORTANT INSTRUCTIONS
Click to continue…

 Registration Link DR General- Click Here
 Registration Link DEPR/DSIM – Click Here
 Registration Link DR General- Click Here
 Registration Link DEPR/DSIM – Click Here

Read More »

Non Functional ATMS to be normalized soon – Finance Ministry

Non Functional ATMS to be normalized soon – Finance Ministry

Ministry of Finance 

Government reviews the currency circulation in the country

Government and RBI have taken all steps to meet unusual demand of the currency Adequate reserves of currency to meet the rising demands Non Functional ATMS to be normalized soon

There are reports of cash shortages and some ATMs running dry of cash or becoming non-functional in some parts of the country.

There has been unusual spurt in currency demand in the country in last three months. In the current month, in the first 13 days itself, the currency supply increased by Rs.45000 crores. This unusual spurt in demand is seen more in some parts of the country like Andhra Pradesh, Telangana, Karnataka, MP and Bihar.

The Government of India with the Reserve Bank of India have taken all steps to meet this unusual demand. We had adequate reserves of currency notes which have been used to meet fully the extraordinary demand generated so far. We continue to have in stock adequate currency notes of all denominations, including of Rs.500, 200 and Rs.100 to meet any demand.

The Government would like to assure all the people that there have been adequate supply of currency notes which have met entire demand so far. The government would also like to assure that it would be supplying adequate currency notes to meet even higher levels of demand if such demand were to continue in the coming days/months.

The Government is taking all steps to ensure that ATMs are supplied with cash and to get non-functional ATMs normalised at the earliest.

Source: PIB

Read More »

Fraud in linkage of Aadhaar with bank accounts and SIM cards

Fraud in linkage of Aadhaar with bank accounts and SIM cards

The Department has received 20 complaintsof bank frauds involving Rs.7.65 lakhs connected with linking Aadhaar with bank accounts since 2015,as per details at Annexure. However, for customer protection, zero liability of a customer is assured vide Reserve Bank of India’s (RBI)circular dated 6th July, 2017 in all cases of a third party breach where the deficiency lies neither with the bank nor with the customer but lies elsewhere in the system and the customer notifies the bank within three working days of receiving the communication from the bank regarding the unauthorized transaction.On being notified by the customer, the bank shall credit (shadow reversal) the amount involved in the unauthorized electronic transaction to the customer’s account within ten working days from the date of such notification by the customer. Further, the guidelines inter-alia addresses the following areas for safeguarding the customers while handling the cases of unauthorized electronic banking transactions:

I. Strengthening of systems and procedures 

II. Reporting of unauthorised transactions by customers to banks 

III. Limited liability of a customer 

IV. Reversal timeline for zero liability/ limited liability of customer 

V. Board approved policy for customer protection

VI. Burden of proof on banks 

VII. Reporting and monitoring requirements (c): The Banks have their grievance redressal policy and internal Grievance Redressal Mechanism for resolution of grievances and customer complaints displayed on their respective websites. In case of alleged unauthorised transactions, the case is investigated and settled as per the Standard Operating Procedures (SOP).

Out of 1.26 lakh overall grievances, 1.20 lakh have been disposed of during the period 1st January, 2017 to 28th December, 2017, leading to a settlement percentage of 95%.

(d):In terms of amendments to provisions of Prevention of Money Laundering - (Maintenance of Records) Rules, 2005 issued vide Gazette Notification G.S.R 538(E) dated June 1, 2017, it is mandatory to obtain Aadhaar for linking all bank accounts, insurance, pension, mutual funds and SIM cardsfor individuals who are eligible to enrol for Aadhaar.

This was stated by the Minister Shri Nusain Dalwai in a written reply to question in the Lok Sabha on 2.1.2018.

Read More »

No Limit for Cash Withdrawal from ATMs from 1st February – RBI Circular

No Limit for Cash Withdrawal from ATMs from 1st February – RBI Circular

Limits on Cash withdrawals from Bank Accounts and ATMs – Restoration of status quo ante

RESERVE BANK OF INDIA

www.rbi.org.in

RBI/2016-17/217

DCM (Plg) No. 2905/10.27.00/2016-17

January 30, 2017

The Chairman / Managing Director / Chief Executive Officer,

Public Sector Banks / Private Sector Banks / Foreign Banks,

Regional Rural Banks / Urban Co-operative Banks,

State Co-operative Banks / District Central Co-operative Banks

Dear Sir/Madam,

Limits on Cash withdrawals from Bank accounts and ATMs – Restoration of status quo ante

Please refer to our circular DCM (Plg) No.1226/10.27.00/2016-17 dated November 08, 2016 placing limits on Cash withdrawals from bank accounts and ATMs in the wake of withdrawal of Legal Tender Character of Specified Bank Notes (SBN) and subsequent circulars DCM (Plg) Nos.1256, 1274, 1317, 1437, 2142 and 2559 dated November 11, 14, 21, 28, December 30, 2016 and January 16, 2017 respectively, providing for relief and relaxations therefrom.

2. On a review of the pace of remonitisation, it has been decided to partially restore status quo ante as under:

Limits placed vide the circulars cited above on cash withdrawals from Current accounts/ Cash credit accounts/ Overdraft accounts stand withdrawn with immediate effect.

The limits on Savings Bank accounts will continue for the present and are under consideration for withdrawal in the near future.

Limits vide the circulars cited above placed on cash withdrawals from ATMs stand withdrawn from February 01, 2017. However, banks may, at their discretion, have their own operating limits as was the case before November 8, 2016, subject to 2 (ii) above.

3. Further, banks are urged to encourage their constituents to sustain the movement towards digitisation of payments and switching over of payments from cash mode to non-cash mode.

4. Please acknowledge receipt.

Yours faithfully,

(P Vijaya Kumar)

Chief General Manager

Source: www.rbi.org.in

Read More »

RBI Issued a Form - for Changing the Rs. 500 and Rs. 1000 Currency.

RBI Issued a Form - for Changing the Rs. 500 and Rs. 1000 Currency.

Reserve Bank of India issued a new form to change the Old Rs. 500 and Rs. 1000 currency. To view the format please click here....

Read More »

Payment of pension to the Central Government pensioners- Continuation of either or survivor pension account after death of a pensioner.

RESERVE BANK OF INDIA    

Ref. DGBA.GAD No.H-7386/45.01.001/2012-13                                         June 2013
                   
The Chairman / Managing Director
State Bank of India & its Associat Banks
Chairman & Managing Director
All Nationalised Banks & IDBI Ban ICICI Bank Ltd,
Axis Bank Ltd, HDFC Bnak Ltd.

Dear Sir,
 
Payment of pension to the Central Government pensioners- Continuation of either or survivor pension account after death of a pensioner

   We have been receiving complaints from the pensioners that on death of a pensioner, banks are insisting on opening of a fresh account by the widow/widower of.the pensioner for the purpose of family pension.

Read More »