The Reserve Bank of India on 25th February, 2016 issued the Master Direction on Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating of Financing of Terrorism (CFT). The Master Direction issued consolidates all relevant instructions issued by different departments of the Reserve Bank so far on the subject and will be applicable to all its regulated entities. The complete detailed directions are given below for reading as well as downloading.
RBI has extended the due date for exchanging the Pre-2005 notes to 01.01.2015.Now person having pre-2005 notes can exchange the notes from nearest bank branch till 01.01.2015.Further these note shall be valid legal tender till further orders can be used in market in normal course.
RBI reduced repo (interest) rates (rates at which it lends money to banks) by 25 basis points from 7.5 per cent to 7.25 per cent.The Reserve Bank of India on Friday in its credit policy review cut short-term lending rate (repo rate) by 25 basis points. The central bank has, however, left the cash reserve ratio (CRR) unchanged.
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Tarun Kumar Gupta
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