Shibin Joseph Posts

Latest in Demonetization-Deposits in old notes more than Rs 5000 only once till 30th December

Adding to Monday blues, RBI announced a new update regarding demonetization. Deposits in excess of Rs 5000 into a bank account will be received for credit only once during the remaining period till December 30, 2016.

  1. Tenders of SBNs in excess of ₹ 5000 into a bank account will be received for credit only once during the remaining period till December 30, 2016. The credit in such cases shall be afforded only after questioning tenderer, on record, in the presence of at least two officials of the bank, as to why this could not be deposited earlier and receiving a satisfactory explanation. The explanation should be kept on record to facilitate an audit trail at a later stage. An appropriate flag also should be raised in CBS to that effect so that no more tenders are allowed.
  2. Tenders of SBNs up to ₹ 5000 in value received across the counter will allowed to be credited to bank accounts in the normal course until December 30, 2016. Even when tenders smaller than ₹ 5000 are made in an account and such tenders taken together on cumulative basis exceed ₹ 5000 they may be subject to the procedure to be followed in case of tenders above ₹ 5000, with no more tenders being allowed thereafter until December 30, 2016.

Source: https://rbi.org.in/Scripts/NotificationUser.aspx?ID=10784

The notice also adds that the above restrictions shall not apply to tenders of SBNs for the purpose of deposits under the Taxation and Investment Regime for the Pradhan Mantri Garib Kalyan Yojana, 2016.

View the entire script issued by RBI here.

School for Transgenders in Kochi

Good news for the good season!

The first school for transgender drop outs is opening right here in Kochi, after months of delay. The school, Sahaj International school, is all set to be inaugurated on the 30th of this month.The school will initially accommodate 10 transgenders and will be led by six transgenders working with the TransIndia Foundation. The students include a disabled person and a migrant. The students have been selected in such a way that they represent different sections of the transgender community. The classes will be taken by teachers and volunteers. The school will offer education and examination equivalent to Class X and XII and will follow National Open School system. Various skill development programs will also be included in the curriculum.

The school will now work out of a house that has been provided by a Christian organization in Thrikkakara in the district.

The announcement was made at a press meet held in the district on Friday.

[Source:http://indianexpress.com/article/india/kochi-to-get-indias-first-transgender-school-4428804/]