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Saturday, December 17, 2016

RBI Imposes Restrictions On Withdrawal From Certain Bank Account



The Reserve Bank imposed certain restrictions on withdrawal if more than Rs 2 lakh has been deposited after November 9 in an account which has a balance of over Rs 5 lakh.

Mumbai: Tightening the noose around people who misused banking channels to park unaccounted money, the Reserve Bank on Thursday imposed certain restrictions on withdrawal if more than Rs 2 lakh has been deposited after November 9 in an account which has a balance of over Rs 5 lakh.

As per a RBI notification, withdrawal or transfer of funds will not be permitted in accounts without quoting of PAN or submission of Form 60 (persons who do not have PAN).

The Reserve Bank also said monthly withdrawal limit of Rs 10,000 will be maintained even if a 'small account' has witnessed increase in annual permissible deposit of Rs 1 lakh.

The notification follows after it was brought to the notice of the RBI that "strict compliance" with KYC (Know Your Customer) provisions is not being ensured in some cases.

In respect of KYC compliant accounts where the required Customer Due Diligence (CDD) procedure has been complied with, RBI said banks and NBFCs should ensure compliance regarding quoting of PAN/obtaining of Form 60 for all transactions.

"No debit transaction, transfer or otherwise shall be allowed in accounts which do not comply with the above mentioned requirements.

"To begin with, this rule shall be strictly applied in accounts where both the thresholds listed -- (i) balance of rupees five lakh or more; and (ii) the total deposits (including credits by electronic or other means) made after November 9, 2016, exceed rupees two lakh," RBI said.

RBI further said if any account is rendered ineligible for being classified as a small account due to credits/balance in the account exceeding the permissible limits, withdrawals may be allowed within the limit prescribed for small accounts.

The monthly limit for withdrawal and transfer from a small account is Rs 10,000. Also, aggregate of all credits in a financial year cannot exceed Rs 1 lakh.

Basic Savings Bank Deposit Accounts (Jan Dhan accounts are akin to BSBDAs), which are not KYC compliant accounts are to be treated as 'small accounts', the RBI added.

Government demonetised old Rs 500/1000 from November 9.

Earlier, RBI had asked banks to strictly follow norms while allowing deposits in dormant accounts.

There have been reports some people misused Jan Dhan and dormant accounts to deposit unaccounted money following demonetisation.

Safety and Security of Women Passengers in Railways



Policing on Railways being a State subject, prevention of crime, registration of cases, their investigation and maintenance of law and order in Railway premises as well as on running trains are the statutory responsibility of the State Governments, which they discharge through Government Railway Police (GRP). However, Railway Protection Force (RPF) supplements the efforts of the GRP by providing better protection and security of passenger area and passengers and for matters connected therewith. RPF escorts important trains in affected areas and also provide access control duties at important and sensitive stations.

Besides, the following measures are being taken by Railways for safety and security of passengers including women passengers in trains:

1. On vulnerable and identified routes/ sections, 2500 trains (on an average) are escorted by Railway Protection Force daily, in addition to 2200 trains escorted by Government Railway Police of different States daily.
2. The ladies special trains running in Metropolitan cities are being escorted by lady RPF constables.
3. The ladies compartments in suburban trains running in metropolitan cities are being escorted by RPF and GRP. Staff deployment is made during late night and early morning in such trains to ensure proper security to the lady passengers.
4. Security Help Line number 182 is made operational over Indian Railways for security related assistance to passengers in distress.
5. Regular drives are conducted to prevent entry of male passengers in compartments reserved for ladies, and if found, they are prosecuted under the provisions of Railways Act.
6. Surveillance is kept through CCTV cameras, provided at about 344 stations over Indian Railways, to ensure safety and security of passengers.
7. RPF holds regular coordination meetings with State Police at all levels to ensure proper registration and investigation of crime by GRP
8. Strengthening and upgradation of security infrastructure is an ongoing process.

A total of 344 railway stations have been provided with Close Circuit Television (CCTV) Cameras over Indian Railways. With a view to further strengthening security of passengers including women, 983 A1, A, B & C category railway stations have been nominated for installation of CCTV cameras with allocation of budget under Nirbhaya Fund. CCTV cameras have also been installed on a limited number of coaches of passenger and suburban trains on a pilot basis. Sanction for provision of CCTV cameras in 500 coaches has been obtained under the Rolling Stock Programme 2015-16. Work has already been completed in about 25 passenger coaches and 32 suburban coaches (including ladies compartments) that have been commissioned in service.

This Press Release is based on the information given by the Minister of State for Railways Shri Rajen Gohain in a written reply to a question in Rajya Sabha on 16.12.2016 (Friday).

Source : PIB

Discontinuance of Festival Advance on the recommendation of 7th CPC - Railway Board Order




RBE No. 147/2016
GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS 
(RAILWAY BOARD)
No. 2016/E {LL}/FA/1
New Delhi,dated: 14·12.2016
The General Managers,
All Zonal Railways/Production Units, CORE, Metro Railway,
The Director General, RDSO, Lucknow
The Director General, National Academy of Indian Railway, Vadodara.
The Director; IRICEN/ Pune. IRIEE/Nasik Road, IRIMEE/Jamalpur,
IRISET, Secunderabad,IRITM, Lucknow.
The Chairman, RRBs, Mumbai, Chandigarh, Patna, Muzaffarpur, Malda, Secunderabad, Ranchi, Kolkata, Bangalore, Gorakhpur, Bhopal, Chennai.
The Pay, Accounts Officer, Railway Board.
Sub: Discontinuance of Festival Advance on the recommendation of 7th CPC.
Seventh Central Pay Commission has recommended that all interest free advances including Festival Advance being granted to the Central Government employees should be abolished.
2. The above recommendation has been considered and accepted in consultation with Pay Commission and Finance Directorates of Railway Board, Hence, it has been decided not to grant Festival Advance to Railway employees with immediate effect.
3. This issues with the concurrence. of the Finance Directorate of the Ministry of Railways. Necessary correction of Indian Railway Establishment Manual Volume-1 shall follow.
Please acknowledge receipt.
sd/-
(D.V. Rao)
Director Estt. (LL)