The BCTT, which was levied on cash withdrawals of over Rs 50,000, was originally introduced in 2005 to keep a track of unaccounted money and trace its source, but was withdrawn with effect from April 1, 2009.
Swiss Re is among the first five foreign companies to obtain a licence to sell reinsurance in India. Swiss Re’s newly licensed entity, Swiss Reinsurance Company, India Branch, will begin its operation from February 1.
Till December 19, the RBI had said that around Rs 5.9 lakh crore of notes were remonetised, hence during the intervening period of January 13-December 19, about Rs 1 lakh crore value of notes were printed, it said.
The cyber security vertical of ReBIT would be responsible for running a security operations centre and would also look after responding to any incidents that may occur on systems of RBI or any of the financial institutions.
The RBI has faced flak after the government announced its decision to withdraw Rs 500 and Rs 1,000 notes on November 8, 2016 and the way the exercise was handled by the government and the central bank.