RBI/2024-25/88 FMRD.FMD.No.06/14.01.006/2024-25 November 07, 2024 To All participants in Government Securities market Madam/Sir, ‘Fully Accessible Route’ for Investment by Non-residents in Government Securities – Inclusion of Sovereign Green Bonds A reference is invited to thePress Release on ‘Issuance Calendar for Marketable Dated Securities for October 2024 - March 2025’ dated September 26, 2024, issued by the Reserve Bank, notifying, inter alia, ...

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RBI/2024-2025/87 DOR.AML.REC.49/14.01.001/2024-25 November 06, 2024 All the Regulated Entities Dear Sir/Madam, Amendment to the Master Direction - Know Your Customer (KYC) Direction, 2016 Please refer to the Master Direction - Know Your Customer (KYC) Direction, 2016 dated February 25, 2016, as amended from time to time, in terms of which Regulated Entities (REs) have to undertake Customer Due Diligence (CDD), as per the process laid out therein, for their customers. 2. On a r...

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RBI/2024-2025/85 DPSS.CO.RLVPD.No.S789/02.07.038/2024-25 October 28, 2024 Central Counterparties authorised by RBI / Central Counterparties seeking authorisation from RBI / Foreign Central Counterparties seeking recognition from RBI Madam / Dear Sir, Directions for Central Counterparties (CCPs) Please refer to thecircular DPSS.CO.OD No.2565/06.08.005/2018-2019 dated June 12, 2019prescribing the directions relating to capital requirements and governance framework for CCPs as als...

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RBI/FMRD/2024-25/124 FMRD.MIOD.No.04/11.01.041/2024-25 October 18, 2024 To All participants in Government Securities market Madam/Sir, Reserve Bank of India (Access Criteria for NDS-OM) Directions, 2024 A reference is invited tocirculars IDMD.DOD.No.5893/10.25.66/2007-08 dated May 27, 2008andIDMD.DOD.No.13/10.25.66/2011-12 dated November 18, 2011issued by the Reserve Bank on guidelines relating to access to Negotiated Dealing System-Order Matching (NDS-OM) electronic trading platfor...

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RBI/2024-25/83 CO.DPSS.POLC.No.S-708/02-12-004/2024-25 October 11, 2024 All Payment System Participants Madam / Dear Sir, Facilitating accessibility to digital payment systems for Persons with Disabilities - Guidelines A reference is invited to Reserve Bank’sMaster Circular on Customer Service in Banks dated July 01, 2015, which, among other things, contains instructions for scheduled commercial banks to ensure banking services for Persons with Disabilities. In this context...

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RBI/2024-25/82 DoR.FIN.REC.No.46/26.03.001/2024-25 October 10, 2024 All Asset Reconstruction Companies (ARCs) Dear Sir / Madam, Submission of information to Credit Information Companies (CICs) by ARCs In terms ofcircular no. DNBS (PD-SC/RC). CC. No. 23/26.03.001/2010-11 dated November 25, 2010on ‘Submission of information to Credit Information Companies’1, ARCs had been advised to become a member of at least one CIC. In order to align these guidelines with the guideli...

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RBI/2024-25/81 DoR.FIN.REC.47/20.16.042/2024-25 October 10, 2024 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks, and excluding Payments Banks) All Primary (Urban) Co-operative Banks/ State Co-operative Banks/ Central Co-operative Banks All Non-Banking Financial Companies (including Housing Finance Companies) All Asset Reconstruction Companies All Credit Information Companies Dear Sir/ Madam, Implementation of Credit Information Rep...

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RBI/2024-25/80 DOR.STR.REC.45/04.02.001/2024-25 October 9, 2024 All Scheduled Commercial Banks (excluding RRBs), Primary (Urban) Cooperative Banks & State Cooperative Banks (scheduled banks having AD category-I license), and Exim Bank Dear Sir / Madam, Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit Please refer to the instructions issued videcircular No. DOR.STR.REC.44/04.02.001/2024-25 dated September 20, 2024. 2. Government of India, v...

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RBI/2024-25/79 A.P. (DIR Series) Circular No. 18 October 04, 2024 To All Category - I Authorised Dealer Banks Madam / Sir, Due diligence in relation to non-resident guarantees availed by persons resident in India The Reserve Bank of India (RBI) has come across instances of guarantees (including Standby Letters of Credit [SBLCs] and / or performance guarantees) issued by persons resident outside India, favouring persons resident in India, which are not permitted under the extan...

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RBI/FED/2024-25/78 A.P. (DIR Series) Circular.No.17/2024-25 October 01, 2024 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Sir, Directions - Compounding of Contraventions under FEMA, 1999 The provisions of section 15 of Foreign Exchange Management Act, 1999 (42 of 1999) [hereinafter referred to as ‘FEMA, 1999’], enable compounding of contraventions and, empowers the Reserve Bank to compound any contravention as defined under se...

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RBI/2024-25/77 DoS.CO.PPG.SEC.10/11.01.005/2024-25 September 30, 2024 All Commercial Banks (including Small Finance Banks but excluding Regional Rural Banks and Payments Banks) All Primary (Urban) Co-operative Banks All Non-Banking Financial Companies Madam / Dear Sir, Gold loans - Irregular practices observed ingrant of loans against pledge of gold ornaments and jewellery A reference is invited to the circulars1issued by the Reserve Bank containing various prudential guideli...

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Central Board of Direct Taxes (CBDT) has decided to extend the specified date for filing of various reports of audit for the Previous Year 2023-24, which was 30th September, 2024 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, to 07th October 2024. ...

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RBI/2024-25/76 DOR.STR.REC.44/04.02.001/2024-25 September 20, 2024 All Scheduled Commercial Banks (excluding RRBs), Primary (Urban) Cooperative Banks & State Cooperative Banks (scheduled banks having AD category-I license), and Exim Bank Madam/ Sir, Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit Please refer to the instructions issued videcircular No.DOR.STR.REC.41/04.02.001/2024-25 dated August 29, 2024. 2. Government of India (Gol), vi...

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RBI/2024-25/75 DOR.AML.REC.43/14.06.001/2024-25 September 19, 2024 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 12A of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005: Designated List (Amendments) Please refer to Section 52 of ourMaster Direction on Know Your Customer dated February 25, 2016as amended on January 04, 2024 (MD on KYC), in terms of which, inter alia, “Re...

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RBI/2024-25/74 A.P. (DIR Series) Circular No. 16 September 06, 2024 To All Authorised Dealer Category-I banks Madam/Sir, Liberalised Remittance Scheme (LRS) for Resident Individuals- Discontinuation of Reporting of monthly return Attention of all Authorised Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No. 36 dated April 04, 2008read withA.P. (DIR Series) Circular No. 11 dated December 22, 2023, in terms of which, AD Category-I banks were req...

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RBI/2024-25/73 CO.FIDD.PCD.BC.No.9/04-04-003/2024-25 September 02, 2024 All Scheduled Commercial Banks Madam /Dear Sir, Review of Extant Instructions – Withdrawal of Circulars An internal review was carried out to identify and withdraw obsolete/ outdated/ superfluous instructions. Based on the same, the circulars listed in theAnnexstand withdrawn with immediate effect in view of subsequent updated instructions issued on the subject matters. Yours faithfully, (Nisha Na...

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RBI/2024-25/72 CO.FMRD.FMIA.No.S242/11-01-051/2024-2025 August 29, 2024 To All Eligible Market Participants Madam / Sir Scheme for Trading and Settlement of Sovereign Green Bonds in the International Financial Services Centre in India Please refer to Paragraph 1 of theStatement on Developmental and Regulatory Policiesannounced as a part of theBi-monthly Monetary Policy Statement for 2024-25 dated April 05, 2024, on the issuance of a scheme for investment and trading in Sovere...

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RBI/2024-25/71 DOR.STR.REC.41/04.02.001/2024-25 August 29, 2024 All Scheduled Commercial Banks (excluding RRBs), Primary (Urban) Cooperative Banks & State Cooperative Banks (scheduled banks having AD category-I license), and Exim Bank Dear Sir / Madam, Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit Please refer to the instructions issued videcircular No. DOR.STR.REC.78/04.02.001/2023-24 dated February 22, 2024. 2. Government of India, vid...

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RBI/2024-25/64 CO.DPSS.POLC.No.S528/02-14-003/2024-25 August 22, 2024 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks, including Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Payments Banks / Small Finance Banks / Local Area Banks / Non-bank Prepaid Payment Instrument issuers / Authorised Card Payment Networks / National Payments Corporation of India Madam / Dear Sir, ...

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= RBI/2024-25/63 DoR.FIN.REC.35/03.10.124/2024-25 August 16, 2024 All Non-Banking Financial Company – Peer to Peer Lending Platforms Dear Sir/ Madam, Review of Master Direction - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 Please refer to theMaster Direction - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017(the Directions). 2. The Directions envisaged the Non-Bank...

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RBI/2024-25/62 DOR.CRE.REC.33/08.12.001/2024-25 August 12, 2024 Housing Finance Companies Madam/ Dear Sir, Review of Risk Weights for Housing Finance Companies (HFCs) Please refer toMaster Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021 dated February 17, 2021, as updated from time to time. On a review, it has been decided to carry out the following modifications: (i) Risk weighted assets for undisbursed amount of...

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RBI/2024-25/61 DOR.FIN.REC.No.34/03.10.136/2024-25 August 12, 2024 All Housing Finance Companies (HFCs) All Non-Banking Finance Companies (NBFCs) Dear Sir/ Madam, Review of regulatory framework for HFCs and harmonisation of regulations applicable to HFCs and NBFCs Please refer to thecircular DOR.NBFC (HFC).CC.No.118/03.10.136/2020-21 dated October 22, 2020. In terms of para 4 of the above circular, it was advised that further harmonisation of regulations applicable to HFCs and N...

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RBI/2024-25/60 DoR.FIN.REC.No.32/20.16.056/2024-25 August 08, 2024 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks, and excluding Payments Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ Central Co-operative Banks All-India Financial Institutions (Exim Bank, NABARD, NHB, SIDBI and NaBFID) All Non-Banking Financial Companies (including Housing Finance Companies) All Asset Reconstruction Companies All Credit Informa...

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RBI/2024-25/59 FIDD.CO.FSD.BC.No.8/05.02.001/2024-25 August 06, 2024 The Chairman/Managing Director/Chief Executive Officer All Public Sector Banks, Private Sector Banks and Small Finance Banks Madam/Dear Sir, Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial year 2024-25 Please refer to ourcircular FIDD.CO.FSD.BC.No.13/05.02.001/2022-23 dated November 23, 2022conveying the...

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RBI/2024-25/59 FIDD.CO.FSD.BC.No.8/05.02.001/2024-25 August 06, 2024 The Chairman / Managing Director / Chief Executive Officer All Public Sector Banks, Private Sector Banks and Small Finance Banks Madam/Dear Sir, Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial year 2024-25 Please refer to ourcircular FIDD.CO.FSD.BC.No.13/05.02.001/2022-23 dated November 23, 2022conveyi...

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RBI/2024-25/58 DOR.CAP.REC.No.27/09.18.201/2024-25 August 02, 2024 Dear Sir/ Madam, Prudential Treatment of Bad and Doubtful Debt Reserve by Co-operative Banks As you are aware, under the provisions of the respective State Co-operative Societies Acts, or otherwise, on prudential consideration, several co-operative banks have created Bad and Doubtful Debt Reserve (BDDR)1. While in some cases, BDDR is created by recognising an expense in the Profit and Loss (P&L) Account, in o...

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RBI/DPSS/2024-25/123 CO.DPSS.OVRST.No.S447/06-26-002/2024-25 July 30, 2024 The Chairman / Managing Director / Chief Executive Officer Authorised Non-bank Payment System Operators Madam / Dear Sir, Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank Payment System Operators The safety and security of payment systems is a key objective of the Reserve Bank of India (RBI). To ensure that the authorised non-bank Payment System Operators (PSOs) are...

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RBI/2024-25/57 DOR.CAP.REC.No.30/09.18.201/2024-25 July 30, 2024 Dear Sir/ Madam, Guidelines on treatment of Dividend Equalisation Fund (DEF)- Primary (Urban) Co-operative Banks (UCBs) Please refer toMaster Circular DOR.CAP.REC.5/09.18.201/2024-25 dated April 01, 2024on “Prudential Norms on Capital Adequacy - Primary (Urban) Co-operative Banks (UCBs)”,Master Circular DoR.CRE.REC.71/07.10.002/2023-24 dated January 16, 2024on “Exposure Norms and Statutory / Other Res...

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RBI/DoR/2024-25/122 DoR.FIN.REC.No.31/20.16.003/2024-25 July 30, 2024 All Commercial Banks including Small Finance Banks, Local Area Banks and Regional Rural Banks and excluding Payments Banks All Primary (Urban) Co-operative Banks/ State Co-operative Banks/ Central Co-operative Banks All India Financial Institutions (Exim Bank, NABARD, NHB, SIDBI and NaBFID) All Non-Banking Financial Companies including Housing Finance Companies All Asset Reconstruction Companies All Credit Informat...

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RBI/2024-25/55 DOS.CO.PPG.SEC.No.8/11.01.005/2024-25 July 26, 2024 All Primary (Urban) Co-operative Banks Madam / Dear Sir, Prompt Corrective Action (PCA) Framework for Primary (Urban) Co-operative Banks (UCBs) Please refer to thecircular DOR (PCB).BPD.Cir No.9/12.05.001/2019-20 dated January 6, 2020on the Supervisory Action Framework for Primary (Urban) Co-operative Banks (UCBs). 2. The existing Supervisory Action Framework (SAF) for UCBs has since been reviewed. Accordingly,...

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