Cash Reserves In Cooperative Banks

Kerala Chief Minister Pinarayi Vijayan and his ministers marched to the office of the Reserve Bank of India (RBI) in Thiruvananthapuram on Friday and sat on protest against the ban on Rs 500 and Rs 1,000 notes announced by Prime Minister Narendra Modi on November 8.

Hurried donations made to nearly 100 temples and trusts and sudden spurt in cash reserves in nearly 1,000 cooperative banks and credit societies in Maharashtra after Centre's decision to scrap Rs 500 and Rs 1,000 notes have come under government's scanner, a senior state minister said today.

To mitigate the risk of money laundering and terror funding, the Reserve Bank of India (RBI) has asked banks not to pay more than Rs 50,000 in cash to customers holding at-par cheques.

Kerala Chief Minister Pinarayi Vijayan and his ministers marched to the office of the Reserve Bank of India (RBI) in Thiruvananthapuram on Friday and sat on protest against the ban on Rs 500 and Rs 1,000 notes announced by Prime Minister Narendra Modi on November 8.

Hurried donations made to nearly 100 temples and trusts and sudden spurt in cash reserves in nearly 1,000 cooperative banks and credit societies in Maharashtra after Centre's decision to scrap Rs 500 and Rs 1,000 notes have come under government's scanner, a senior state minister said today.

To mitigate the risk of money laundering and terror funding, the Reserve Bank of India (RBI) has asked banks not to pay more than Rs 50,000 in cash to customers holding at-par cheques.