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RBI has a set of guidelines that member banks have to follow in order to prevent illegal activities like money laundering, terrorist financing, tax evasion etc. if an individual has numerous small number transactions totaling up to large amounts or individual transactions over Rs. 50,000/- the banks have to inform RBI. These number limits are altered by RBI on a regular basis to ensure that malicious elements do not use this information to beat the system.
Any suspicious or abnormal activity in your bank account too gets reported to RBI. For ex: If your monthly salary deposit is Rs. 50,000/- and suddenly a 5 lakh deposit gets made into your account, it will probably be reported to the RBI
What else can I help you with?
Is shinhan bank is approved scheduled bank by RBI?
Yeh, Shinhan bank is Scheduled commercial bank approved by RBI.
Which bank is called Bankers Bank in India?
the bankers bank in India is RESERVE BANK OF INDIA known as RBI
What is the role of SBI in RBI?
State Bank of India (SBI) is the largest nationalized bank in India but it does not perform any role when it comes to Reserve Bank of India (RBI). The RBI is an independent entity that takes policy decisions with respect to Banking in India and SBI along with all other banks in India have to adhere to the guidelines set up by RBI.
What is the cash reserve ratio in India?
Cash Reserve Ratio or CRR in India is the amount of money that every bank has to deposit with the RBI per customer. Every time a customer deposits cash to the bank, the bank has to correspondingly deposit a portion of that cash to the RBI. RBI decides this percentage of money that each bank has to deposit with it.
What is cash reserve ratio or CRR?
Cash Reserve Ratio or CRR in India is the amount of money that every bank has to deposit with the RBI per customer. Every time a customer deposits cash to the bank, the bank has to correspondingly deposit a portion of that cash to the RBI. RBI decides this percentage of money that each bank has to deposit with it.
Is shinhan bank is approved scheduled bank by RBI?
Yeh, Shinhan bank is Scheduled commercial bank approved by RBI.
Is Mini Muthoot Bank approved by RBI?
Yes, Mini Muthoot bank is approved by RBI.
Which bank is called bank of issue?
RBI
Who is the bank manager of rbi?
Please rephrase this question. There is no such thing as a governor of RBI.
Who supervises the functioning of bank?
RBI
Which is the central bank of India?
rbi
Who supervises the functioning bank?
RBI
Is riddance bank registered by rbi?
No
Which is India's richest bank after RBI?
state bank of India
When rbi establish?
Reserve Bank of Indian [RBI] was established on 1st April, 1935.
Can I use my Visa credit card in Japan for purchases and transactions?
Yes, you can use your Visa credit card in Japan for purchases and transactions at most establishments that accept credit cards. It is recommended to inform your bank of your travel plans to avoid any potential issues with international transactions.
IS HSBC a RBI approved bank?
yes
