Monday, 12 December 2016

Sensex under pressure, Nifty breaks 8200; banks, auto, FMCG fall

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To avoid any malpractices, the government today asked all public sector banks to strictly maintain record of deposits made through both old Rs 500/1,000 notes and other valid currencies. In a letter written to chief executive officers of public sector banks, the Finance Ministry asked that "maintenance of records regarding deposit of Specified Bank Note (SBN) and Non-SBN, as the case may be, is essential both in the bank record as well as the customers record. 

"The letter addressed to all the Managing Directors of state-owned banks and Chairman of Indian Banks' Association, the Department of Financial Services directed them consider this on urgent basis and send action taken report in this regard by December 16.

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