NEWS & ADVICE : FIXED DEPOSITS
Banks can face huge rush of customers in coming days
By Neelima Shankar
Jan 27, 2014
Print    Email    RSS   

Banks are expecting a gust of customers after the RBI’s recent decision to withdraw all the currency notes prior to 2005. Lately RBI announced that to end up the problem fake currencies across the country, everyone is required to exchange the notes printed before 2005 at the banks. The banks are preparing themselves to deal with the rush that they might face in the coming days due to this reason. It has been reported that the notes printed after 2005 are more secure. The main purpose of the RBI’s measure is to limit the growing problem of black money and duplicate currency all over the country.

The customers can exchange any number of notes at the branch where they are having account. From July onwards, for exchanging more than 10 notes of Rs 500 and Rs 1000 customers will be required to provide their identity proof. According to RBI data till March, 2013 there were 7,351 crore such notes which were in use.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Do you know what led banks to calibrate...
How to Invest to Save?
Carnival of Indian Personal Finance Blogs #3
A checklist of investment options for...
Infrastructure bonds: another tax saving...


MEXING: CaℒL Giℛℒ In Hoshiarpur 09855660911...
Sakeela.CaℒL Giℛℒs In Kharar 0985566O911...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive