Old notes Deposits – Ahead of the December 30 deadline to deposit old notes in banks, RBI has further tightened norms. Stay with us for latest updates:
Demonetisation was not our wish, there are still many problems. People are suffering, says Andhra Pradesh chief minister N Chandrababu Naidu.
Banks refusing to accept deposits above Rs 5000
There were reports from across the country of officials at many bank branches refusing to accept deposits in excess of Rs 5,000. A top official at a very large government bank acknowledged that instructions had gone out not to accept such deposits unless two officers were present.
Lower rates to push digital deals: CMs’ panel
A high-powered panel of chief ministers has asked Reserve Bank of India (RBI) to “substantially lower” the merchant discount rates (MDR) or the price that is paid by the merchants to bank for payments received through cards, a move aimed at providing a push to digital payments.