{"id":2902,"date":"2016-11-30T16:46:46","date_gmt":"2016-11-30T16:46:46","guid":{"rendered":"https:\/\/sunkrish.com\/?p=2902"},"modified":"2017-01-14T13:51:45","modified_gmt":"2017-01-14T13:51:45","slug":"rbi-relaxes-cash-withdrawal-rule","status":"publish","type":"post","link":"https:\/\/sunkrish.com\/index.php\/2016\/11\/30\/rbi-relaxes-cash-withdrawal-rule\/","title":{"rendered":"RBI relaxes cash withdrawal rule"},"content":{"rendered":"<p><a href=\"https:\/\/sunkrish.com\/index.php\/2016\/11\/30\/rbi-relaxes-cash-withdrawal-rule\/1-2\/\" rel=\"attachment wp-att-2903\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2967 size-medium alignleft\" src=\"https:\/\/sunkrish.com\/wp-content\/uploads\/1-300x225.jpg\" width=\"300\" height=\"225\" \/><\/a><\/p>\n<p>The Reserve Bank of India (RBI) has now said people depositing money with banks in legal tender (meaning, not in the now-banned Rs 500 and Rs 1,000 notes) on or after Tuesday are allowed to withdraw the equivalent amount without any restriction, preferably in high-value denomination.<\/p>\n<p>It said it took this decision on careful consideration, as certain depositors were &#8220;hesitating to deposit their monies into bank accounts in view of the current limits on cash withdrawals from accounts&#8221;.<\/p>\n<p>This would mean, for instance, that business owners who deposit cash at the end of a day can now go to a bank and withdraw money as they did before demonetisation, to the extent they had deposited in existing legal tender. All business owners, small or big, handle huge cash on a daily basis and typically operate through current accounts on which banks don&#8217;t offer any interest rate but put no restriction in withdrawal.<\/p>\n<p>On November 14, the central bank had said banks should maintain a separate record for deposits done in old notes and the valid notes, customer-wise.<\/p>\n<p>Source: <a href=\"http:\/\/www.business-standard.com\/article\/economy-policy\/rbi-relaxes-cash-withdrawal-rule-116112801294_1.html\" target=\"_blank\">http:\/\/www.business-standard.com\/article\/economy-policy\/rbi-relaxes-cash-withdrawal-rule-116112801294_1.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank of India (RBI) has now said people depositing money with banks in legal tender (meaning, not in the now-banned Rs 500 and Rs 1,000 notes) on or after Tuesday are allowed to withdraw the equivalent amount without &hellip; <a href=\"https:\/\/sunkrish.com\/index.php\/2016\/11\/30\/rbi-relaxes-cash-withdrawal-rule\/\">Continued<\/a><\/p>\n","protected":false},"author":1,"featured_media":2967,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,493],"tags":[310,518,903,305,398,367,295],"class_list":["post-2902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-corporate-services","category-economy-business-updates-corporate-affairs","tag-bank","tag-black-money","tag-demonetisation","tag-economy","tag-india","tag-reserve-bank-of-india-rbi","tag-taxation"],"_links":{"self":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/2902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/comments?post=2902"}],"version-history":[{"count":5,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/2902\/revisions"}],"predecessor-version":[{"id":3268,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/2902\/revisions\/3268"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media\/2967"}],"wp:attachment":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media?parent=2902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/categories?post=2902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/tags?post=2902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}