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Reserve Bank of India Cautioned Users of Virtual Currencies

Reserve Bank of India (RBI) warned the people against of using Virtual Currencies

Reserve Bank of India (RBI) warned the people against of using Virtual Currencies such as Bitcoins. Upon announcing the news, it said that by using such instruments for financial transactions poses security-related issues involved.

“The Reserve Bank of India suggests that it has not given any licence or authorization to any company to manage such schemes or deal with Bitcoin or any virtual currency,” said by the Reserve Bank of India on Wednesday. ”

Paytm Payments Bank got Final Nod From RBI: Operations will start From February

“As such, any user, holder, investor or trader dealing with virtual currencies will be doing so at their risk,” the central bank warned. The usage of Virtual Currencies as a medium for payment are not authorised by the Central Bank or any other monetary authority.

According to the reports of RBI, no regulatory approvals, authorization or registration stated to have been obtained by the entities. Moreover, RBI also said that Non-banking Financial Company-Micro Financial Institutions (NBFC-MFIs) should ensure the common interest on loans.

The sanctioned loans during a quarter don’t exceed the average browsing cost during preceding quarter. However, Central Bank also announced that the relaxed commercial paper lowering the minimum credit rating from A2 to A3 and ticket size from Rs 10 lakh to Rs. 6 lakh.

RBI Restriction on Jan Dhan Accounts, Withdrawal Limits to Rs 10,000 per Month

RBI has detailed the risks in such currencies since the Virtual Currencies stored in the digital media known as electronic wallets. This may lead to many losses such as arising out of hacking, malware attack, loss of password and comprise of access credentials.

Moreover, some of the payments through Virtual Currencies take place on a peer-to-peer basis without authorised by central agents for such payments. RBI also said that the Virtual Currencies such as Bitcoins traded on exchange platforms which are set up in various jurisdictions.

RBI Assistant Prelims Results 2016: Check Merit list Cut Off Marks

Latest Education & Job News

RBI Assistant prelims results 2016

RBI Asst result is out. Candidates are very panic about their performance after attending examinations. Now Reserve Bank of India has released the RBI Assistant prelims results 2016. Aspirants who have participated in the exam can check the result at official website www.rbi.org.in

Reserve Bank of India is also known as RBI. It is a central banking constituent in India. It controls the budgetary policy over Indian rupee. Every year it releases recruitments for various posts to recruit the best employees in the organization.

This recruitment is released for the 610 posts for the post of assistant in various offices of the bank. For this post lakhs of applicants has applied. They have released this notification in different regions like Ahmedabad, Bangalore, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, etc.

SSC CHSL LDC DEO Tier II Result 2015 declared check cut off marks from official website ssc.nic.in

This prelims exam has conducted for the various subjects like English language, numerical ability, and reasoning. This English exam conducted for 30 marks and remaining subjects conducted for 35 marks in the duration of 1 hour.

The examination centers given at all zones like West zone, north zone, south zone and east zone. According to their regions applicants has attended to the exam. The examination conducted on 24th December 2016. Now it is releasing RBI Assistant prelims results 2016.

IBPS Clerk Mains Admit card 2016 CWE VI Clerical cadre Call Letter download from ibps.in

Examinees can check this RBI assistant merit list, in this list, they have given the names of selected applicants, and they are selected for mains examination. Along with the merit list, applicants can also check this Reserve Bank of India Asst cut off marks. Aspirants who have achieved more than qualifying marks are only selected for the exam

Selected candidates please start preparing for the mains examination. Mostly the examination will conduct in the month of January. The merit list has given according to the region wise. For more details, please visit official website www.rbi.org.in

Examination date: 24.12.2016

Results links


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New deposit scheme allows old notes worth more than 5000 only once

5000 rule explained by FM

Deposits on above Rs 5000 banned currency notes can make until the last date 30th December 2016. On Monday, the Reserve Bank of India (RBI) announced the latest banking restrictions of Rs 5000 rule after the government recalled the high-value bills.

The accounts must also be valid with customer information details. Out of Rs 15.4 lakh crore nearly Rs 13 lakh crore worth 500 and 1000 currency notes already deposited in the banks. Now the government revised the rules to mandate that people can deposit Rs 5000 of old currency bills only once till the last date.

Form for the Exchange of Rs. 500 and 1000 Notes in Banks : Detail Process Explained

What is Rs 5000 rule?

The amount of Rs 5000 or less can continue to be deposit in the banks without any restrictions. As per the announcement made by the Finance Minister Arun Jaitley, no questions will ask if the amount of scrapped rupee notes deposit. But after two or repeated deposits, people have to face the queries.

“Anyone who has old currency notes is not allowed to trade in them. He can only go and deposit them with banks,” Arun Jaitley said on introducing the Rs 5000 rule.

“If they go and deposit with the bank any amount of currency, no questions are going to be asked to them and therefore the 5000 rupee limit does not apply to them – but (only) if they go and deposit it once.

“But if they are going to go every day and deposit some currency (small amounts), same person, that gives rise to a suspicion that where is he acquiring this currency from. In that event, a person may have something to worry about. Therefore everyone advised whatever old currency you have, please go and deposit it now,” he said.

After banning old 500 and 1000 rupee notes from 8th November, the government allowed individuals to deposit banned notes till 30th December 2016. Earlier there is no limit on the quantity, but on 17th December the government issued a gazetted notice.

New Rs. 20 and Rs. 50 Currency Notes about to issue by RBI: Existing Old notes are valid too

With a view to “reduce the queues in the banks”, the Reserve Bank of India said it has now decided that “amounts exceeding Rs. 5,000 in old notes can be deposited only once between now and December 30, 2016.”

“The banks advised conducting due diligence regarding the reasons for not collecting these notes earlier,” the statement said.

Vodafone launches M-Pesa Pay: Encouraging Merchants to go Digital

vodafone m-pesa pay-launched-in-india

Telecom giant Vodafone has announced the launch of Vodafone M-Pesa PAY on Tuesday. M-Pesa PAY is a digital payment solution for retailers and merchants to receive cashless payments from customers. This move from the telecom operator is another initiative towards digital payments drive in India. Many new schemes and digital payment methods were observed in the country with the recent demonetization effect.

Vodafone says that the merchants and retailers should download the Vodafone M-Pesa app in their mobiles for using it. The app offers payments and money transfer options to users for a while, and then they register themselves as a merchant. The app also allows merchants to notify individual customers to make payments. Customers also get a notification which let them make payment with their bank account, wallet balance, debit card or credit card.

Vodafone Launches Unlimited Voice & Data Combo Packs

“With the launch of Vodafone M-Pesa PAY, we are accelerating this journey by creating a platform for merchants and retailers to easily embrace digital payments and also encourage their millions of customers to pay via digital currency,” says, Sunil Sood, MD & CEO at Vodafone India. “The Hon’ble PM has set forth the vision of a Digital India and a less cash economy. As a responsible corporate citizen, we are fully committed to playing our role in fulfilling this vision.” Sood added.

Commenting on the launch, Sood also explained few more things in detail about the app. Vodafone has started its journey towards enabling financial and digital inclusion back in 2013. The company has successfully established a franchise of more 8.4 million customers and nearly 130000 outlets across India.

Airtel Customers Opening New Account in Airtel Payments Bank to Avail New Offers

The Reserve Bank of India (RBI) increased the limit on e-wallets to Rs 20,000 from Rs 10,000 last month. The limit is extended up to Rs 50000 for merchants and up to Rs 1 Lakh for consumers who have given their KYC details.

RBI Assistant Call Letter 2016 Released Exam Hall ticket Download from rbi.org.in

Latest Education & Job News

RBI Assistant Call Letter 2016

The Reserve Bank of India (RBI) published the notification of Assistant posts and completed the registration process on the mentioned dates. Now they made a latest announcement of releasing the RBI Assistant Call Letter 2016 for the eligible aspirants from the received application forms.

Many candidates have applied and eagerly waiting for the next recruitment process. Finally the wait is over; the officials issued the Reserve Bank of India Assistant Admit Card and made the download link live on the official web portal rbi.org.in.

Reserve Bank of India is an India’s central banking system which has an authority to control the monetary policy on Indian rupee. It was established in the year 1935 on 1st April and has its headquarters at Mumbai, Maharashtra, India.

IBPS Clerk Prelims Results 2016: Check CWE VI Cut Off marks Released at ibps.in

RBI plays an important role in the Development strategy of the Government of India. It is the member bank of Asian Clearing Union. Annually it releases various employment notifications and selects the applicants by conducting recruitment process.

Recently they released the notification to fill 610 vacant Assistant posts. Candidates who are probing for government jobs have applied and successfully submitted the application forms before the mentioned dates. Now the officials released RBI Assistant Call Letter 2016 on their official website rbi.org.in and commenced the exam schedule on 23rd and 24th December 2016.

Candidates have to download the RBI Assistant exam 2016 Hall Ticket without waiting till the last date. The RBI Assistant Call Letter 2016 is an important document to be carried for the examination centre without fail. It consists of important details like roll number, name, time, date and venue of the exam. Along with admit card, candidates need to carry mentioned ID proof and also need to read the instructions given in the RBI Assistant Admit card 2016.

Steps to download admit card

  • First of all, candidates have to visit the official website rbi.org.in.
  • Navigate to the homepage.
  • Tap on the RBI Assistant Call Letter 2016 download link.
  • Enter all the mentioned details in the provided fields.
  • After entering click on submit button.
  • Download the admit card and take a print out of it.

Official admit card download link


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