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Australia Limits Crypto ATM Transactions to AUD 5,000 in Bid to Curb Scams, Money Laundering
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has enforced a deposit and withdrawal limit of AUD 5,000 (roughly Rs. 2.78 lakh) on transactions processed via crypto ATMs. The agency highlighted that elderly individuals are purchasing cryptocurrencies via cash -- with many falling prey to notorious scams and fraudulent schemes.
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Central Bank Digital Currency Transactions to Remain Anonymous 'To a Certain Degree': RBI
Central bank digital currencies (CBDC) transactions would remain anonymous to a certain degree, Reserve Bank of India Deputy Governor T Rabi Sankar said on Wednesday. The IT department allows cash transactions up to a certain limit to be carried out without government ID proof, but the RBI is yet to clarified the degree to which CBDC transactions w...
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SBI Cash Transaction, Cheque Book And New Debit Card Charges. Details Here
The limit of four ATM withdrawals per month only applies to the Basic Savings Banks Deposit Accounts, SBI said.
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The Rs 150 Bank Charge: What It Means For You In 10 Points
Leading private bank HDFC has announced savings account customers will have to pay a Rs 150 charge for cash deposits or withdrawals in excess of four free transactions at bank branches. The development puts the HDFC's charges for transactions at par with its two competitors - ICICI and Axis banks - that had also suspended charges to be paid for cus...
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Tax Officials To Go Easy On Deposits Up To Rs 5 Lakh By Those Above The Age Of 70
The tax department will not carry out any further verification for cash deposits up to Rs 5 lakh made by people above 70 years of age post note ban, but the limit has been fixed at Rs 2.5 lakh for other individuals. "There is absolutely no cause for panic. We are not going after everyone who deposited their holding of the demonetised currency in ba...
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50 Days After Cash Ban, PM Modi To Discuss Impact In National Address Today: 10 Points
Prime Minister Narendra Modi will address the country today on New Year's eve which also brings an end to a 50-day period that he had sought to bring normalcy after an abrupt November 8 ban on 500 and 1,000-rupee notes. While the restrictions on cash withdrawal stays on because of a limited cash supply to banks, the daily withdrawal limit from ATMs...
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RBI Amends Rs 5,000-Deposit Order After Backlash, No Questions For KYC Accounts
In its 60th notification since the notes ban was announced, the Reserve Bank of India (RBI) today made an important change in how outlawed 500- and 1,000-rupee notes can be deposited in banks after a huge backlash over the rule that required an explanation from people for deposits above Rs 5,000. No questions will be asked for deposits above Rs 5,0...
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Tax Department Finds Rs 1.64 Crore In Undisclosed Income From Jan Dhan Accounts
The Income Tax department has detected undisclosed monies of Rs 1.64 crore and other "inconsistencies" in its countrywide investigations into the sudden popping up of suspicious amounts in Jan Dhan accounts.
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Cap On Cash Withdrawal: High Court Dismisses Plea To Recall Order
Delhi High Court today dismissed an application seeking recall of its order rejecting a plea to remove the cap on daily withdrawal of money deposited in banks before the demonetisation decision.
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From Hard Cash To Hardboard: How Old Rs 500, 1,000 Notes Are Being Recycled
In the three weeks since old 500 and 1,000-rupee notes have been banned by the government, over 8 trillion rupees worth demonetised currency has been deposited in banks.
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Amid Rush For New Notes, No Fee For Using Another Bank's ATM: 10 Facts
Long queues formed at banks across the country today as millions rushed to deposit and swap Rs 500 and Rs 1,000 notes, banned in a surprise announcement by Prime Minister Narendra Modi to check black or untaxed money. The government is "unwavering in its effort to create an India that is corruption free and where fruits of development touch every c...
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No Harassment For Small Deposits, Says Arun Jaitley After Big Currency Ban
As millions across India today scrambled to deposit and exchange in banks their Rs 500 and Rs 1,000 notes, banned in a surprise move by the government, Finance Minister Arun Jaitley said nobody would be harassed over small deposits.
-
Australia Limits Crypto ATM Transactions to AUD 5,000 in Bid to Curb Scams, Money Laundering
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has enforced a deposit and withdrawal limit of AUD 5,000 (roughly Rs. 2.78 lakh) on transactions processed via crypto ATMs. The agency highlighted that elderly individuals are purchasing cryptocurrencies via cash -- with many falling prey to notorious scams and fraudulent schemes.
-
Central Bank Digital Currency Transactions to Remain Anonymous 'To a Certain Degree': RBI
Central bank digital currencies (CBDC) transactions would remain anonymous to a certain degree, Reserve Bank of India Deputy Governor T Rabi Sankar said on Wednesday. The IT department allows cash transactions up to a certain limit to be carried out without government ID proof, but the RBI is yet to clarified the degree to which CBDC transactions w...
-
SBI Cash Transaction, Cheque Book And New Debit Card Charges. Details Here
The limit of four ATM withdrawals per month only applies to the Basic Savings Banks Deposit Accounts, SBI said.
-
The Rs 150 Bank Charge: What It Means For You In 10 Points
Leading private bank HDFC has announced savings account customers will have to pay a Rs 150 charge for cash deposits or withdrawals in excess of four free transactions at bank branches. The development puts the HDFC's charges for transactions at par with its two competitors - ICICI and Axis banks - that had also suspended charges to be paid for cus...
-
Tax Officials To Go Easy On Deposits Up To Rs 5 Lakh By Those Above The Age Of 70
The tax department will not carry out any further verification for cash deposits up to Rs 5 lakh made by people above 70 years of age post note ban, but the limit has been fixed at Rs 2.5 lakh for other individuals. "There is absolutely no cause for panic. We are not going after everyone who deposited their holding of the demonetised currency in ba...
-
50 Days After Cash Ban, PM Modi To Discuss Impact In National Address Today: 10 Points
Prime Minister Narendra Modi will address the country today on New Year's eve which also brings an end to a 50-day period that he had sought to bring normalcy after an abrupt November 8 ban on 500 and 1,000-rupee notes. While the restrictions on cash withdrawal stays on because of a limited cash supply to banks, the daily withdrawal limit from ATMs...
-
RBI Amends Rs 5,000-Deposit Order After Backlash, No Questions For KYC Accounts
In its 60th notification since the notes ban was announced, the Reserve Bank of India (RBI) today made an important change in how outlawed 500- and 1,000-rupee notes can be deposited in banks after a huge backlash over the rule that required an explanation from people for deposits above Rs 5,000. No questions will be asked for deposits above Rs 5,0...
-
Tax Department Finds Rs 1.64 Crore In Undisclosed Income From Jan Dhan Accounts
The Income Tax department has detected undisclosed monies of Rs 1.64 crore and other "inconsistencies" in its countrywide investigations into the sudden popping up of suspicious amounts in Jan Dhan accounts.
-
Cap On Cash Withdrawal: High Court Dismisses Plea To Recall Order
Delhi High Court today dismissed an application seeking recall of its order rejecting a plea to remove the cap on daily withdrawal of money deposited in banks before the demonetisation decision.
-
From Hard Cash To Hardboard: How Old Rs 500, 1,000 Notes Are Being Recycled
In the three weeks since old 500 and 1,000-rupee notes have been banned by the government, over 8 trillion rupees worth demonetised currency has been deposited in banks.
-
Amid Rush For New Notes, No Fee For Using Another Bank's ATM: 10 Facts
Long queues formed at banks across the country today as millions rushed to deposit and swap Rs 500 and Rs 1,000 notes, banned in a surprise announcement by Prime Minister Narendra Modi to check black or untaxed money. The government is "unwavering in its effort to create an India that is corruption free and where fruits of development touch every c...
-
No Harassment For Small Deposits, Says Arun Jaitley After Big Currency Ban
As millions across India today scrambled to deposit and exchange in banks their Rs 500 and Rs 1,000 notes, banned in a surprise move by the government, Finance Minister Arun Jaitley said nobody would be harassed over small deposits.
