Accounts under PMJDY - Precautions - ଆରବିଆଇ - Reserve Bank of India
Accounts under PMJDY - Precautions
RBI/2016-17/165 November 29, 2016 The Chairman / Managing Director/ Chief Executive Officer, Dear Sir, Accounts under PMJDY - Precautions Please refer to our circular DCM (Plg) No.1424/10.27.00/2016-16 dated November 25, 2016 on “Withdrawal of cash – Weekly limit”. With a view to protect the innocent farmers and rural account holders of PMJDY from activities of money launders and legal consequences under the Benami Property Transaction & Money Laundering laws, it has been decided to place certain limits, as a matter of precaution, on the operations in the PMJDY accounts funded through deposits of Specified Bank Notes (SBNs) after November 09, 2016. As a temporary measure, the banks are advised to observe the following in respect of the PMJDY accounts:
Yours faithfully, (P Vijaya Kumar) |