ATM cash need
Mumbai, Aug. 26: On days of strike in the banking system or other emergencies, banks can meet their cash requirements from the RBI to replenish ATMs in multiple installments, with each not exceeding Rs 10 crore. “The RBI will allow the banks to replenish cash at their ATMs by withdrawing cash from the apex bank in the event of a strike in the entire banking system except the RBI or in the event of any natural calamity in the region or country,” the apex bank said in a circular.
Mumbai, Aug. 26: The Securities and Exchange Board of India today allowed infrastructure finance companies to raise funds overseas through long-term corporate bonds. This fund-raising tool was so far limited to companies in the infrastructure sector.
New Delhi, Aug. 26: As part of its austerity drive, the government has put a ban on the creation of both Plan and non-Plan posts except for new organisations, minister of state for finance Namo Narain Meena said in a written reply to the Lok Sabha.
New Delhi, Aug. 26: Both the government and the Reserve Bank of India have taken a number of steps to address high inflation, including the reduction of import duty on essential commodities such as rice, wheat, pulses, edible oils (crude) and onion, Parliament was informed today.