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Das was delivering the keynote address at the launch of the Kochi International Foundation (KIF).
The letter also cites that a framework for credit related decisions has been included in regulatory instructions on compromise settlements and technical write-offs issued in June, 2023.
In addition to featuring Kher’s image, the notes also had 'Resole Bank of India' printed instead of 'Reserve Bank of India.'
The current e-mandate framework requires a pre-debit notification at least a 24-hours before the actual debit from the customer's account.
At present, cheque clearing through the Cheque Truncation System (CTS) operates in a batch processing mode and has a clearing cycle of up to two working days.
The Unified Payments Interface has been a key driver in India's digital payment ecosystem.
The rate increase cycle was paused in April last year after six consecutive rate hikes, aggregating to 250 basis points since May 2022.
The RBI has permitted the exchange of Rs. 2000 notes only through post offices.
Only Rs 7,581 crore worth of the withdrawn notes are still with the public, said the apex bank.
Will keep a tight vigil on infaltion, RBI governor Das said.
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