RBI/2018-19/194 DBR.RRB.BL.BC.No.40/31.01.002/2018-19 May 31, 2019 The Chairman All Regional Rural Banks Madam/Dear Sir, Rationalisation of Branch Authorisation Policy- Revision of Guidelines Please refer to theMaster Circular DBR.CO.RRB.BL.BC.No.17/31.01.002/2015-16 dated July 01, 2015consolidating instructions/guidelines issued to Regional Rural Banks (RRBs) on Branch Licensing till June 30...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1164

RBI/2018-19/193 IDMD.CDD.No.3391/14.04.050/2018-19 May 30, 2019 The Chairman & Managing Director All Scheduled Commercial Banks (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme 2019-20 - Series I/II/III/IV - Operational...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1055

RBI/2018-19/192 IDMD.CDD.No.3392/14.04.050/2018-19 May 30, 2019 The Chairman & Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India Ltd. (SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme (SGB) 2019-20- Series I/II/III/IV ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1081

RBI/2018-19/190 DBR.AML.BC.No.39/14.01.001/2018-19 May 29, 2019 The Chairpersons/ CEOs of all the Regulated Entities Dear Sir/Madam, Amendment to Master Direction (MD) on KYC Government of India, vide Gazette Notification G.S.R. 108(E) dated February 13, 2019, has notified amendments to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. Further, an Ordinance, “Aadhaar and other Laws (amendment) Ordinance, 2019”, has been notified by the Governmen...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 971

RBI/2018-19/191 DNBR (PD) CC. No. 100/03.10.001/2018-19 May 29, 2019 All NBFCs Madam/Sir, Extension of relaxation on the guidelines to NBFCs on securitisation transactions Please refer to thecircular DNBR (PD) CC.No.95/03.10.001/2018-19 dated November 29, 2018on “Relaxation on the guidelines to NBFCs on securitisation transactions”. 2. On a review, it has been decided to extend the dispensation provided therein till December 31, 2019. Yours faithfully, (Manor...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 859

RBI/2018-19/189 DPSS (CO) RTGS No. 2488/04.04.016/2018-19 May 28, 2019 The Chairman / Managing Director / Chief Executive Officer of member banks participating in RTGS Madam / Dear Sir, Real Time Gross Settlement (RTGS) System – Extension of Timings for Customer Transactions A reference is invited tocircular DPSS (CO) RTGS No.492/04.04.002/2015-16 dated September 1, 2015on ‘Changes in RTGS time window’ andcircular DPSS (CO) RTGS No.1926/04.04.002/2015-16 dated ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 912

RBI/2018-19/186 DCM (Plg.) No.2845/10.25.007/2018-19 May 23, 2019 The Chairman & Managing Director Managing Director/ Chief Executive Officer All Banks having Currency Chests Dear Sir/Madam, Incentive for improving service to non-chest branches Please refer to ourcircular RBI/2015-16/293 DCM (NPD) No.2564/09.40.02/2015-16 dated January 21, 2016on the captioned subject. It has been ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1042

RBI/2018-19/184 DNBR (PD) CC. No.099/03.10.001/2018-19 May 16, 2019 Non-Banking Financial Company– Investment and Credit Companies, Infrastructure Finance Companies, Micro Finance Institutions, Factors and Infrastructure Debt Funds Madam / Dear Sir, Risk Management System – Appointment of Chief Risk Officer (CRO) for NBFCs With the increasing role of NBFCs in direct credit intermediation, there is a need for NBFCs to augment risk management practices. While Boards of...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 967

The Reserve Bank of India has today placed on its website the “Payment and Settlement Systems in India: Vision 2019 – 2021”. The Payment Systems Vision 2021 with its core theme of ‘Empowering Exceptional (E)payment Experience’ aims atempowering every Indian with access to a bouquet of e-payment options that is safe, secure, convenient, quick and affordable. The Payment Systems Vision 2021 has been formalised based on inputs from various stakeholders and guidanc...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1018

RBI/2018-19/183 DCM (Plg) No.2746/10.25.07/2018-19 May 14, 2019 The Chairman / Managing Director / Chief Executive Officer All Banks Madam / Dear Sir, Outsourcing of Cash Management – Reconciliation of Transactions As stated in para 15 of themonetary policy statement dated October 04, 2016, the Bank had constituted a Committee on Currency Movement [Chair: Shri D.K. Mohanty, Executive Director, Reserve Bank of India] to review the entire gamut of security of the treasure i...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1059

RBI/2018-19/181 DBR.BP.BC.No.38/21.04.048/2018-19 May 8, 2019 All Scheduled Commercial Banks All India Financial Institutions (EXIM Bank, NABARD, NHB and SIDBI) Dear Sir/ Madam, Disclosure on Exposure to Infrastructure Leasing & Financial Services Limited (ILFS) and its group entities Please refer to thecircular DBR.BP.BC.No.37/21.04.048/2018-19 dated April 24, 2019on the captioned subject. In view of the National Company Law Appellate Tribunal’s (NCLAT) order dated Ma...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1058

RBI/2018-19/179 FIDD.CO.Plan.BC.18 /04.09.01/2018-19 May 6, 2019 The Chairman/MD & CEO All Regional Rural Banks/All Small Finance Banks Dear Sir/ Madam, Priority Sector Lending – Targets and Classification Please refer to Para 10 of theStatement on Developmental and Regulatory Policiesof theFirst Bi-Monthly Monetary Policy Statement 2019-20 dated April 4, 2019and Para 9 ofMaster Direction – Regional Rural Banks (RRBs) - Priority Sector Lending – Targets and...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1032

RBI/2018-19/177 FMRD.FMID.No.15/11.01.007/2018-19 April 26, 2019 To All eligible market participants Dear Sir/Madam, Legal Entity Identifier: Extension of deadline A reference is invited tocircular FMRD.FMID.No.10/11.01.007/2018-19 dated November 29, 2018issued by the Reserve Bank on requirement of Legal Entity Identifier (LEI) for participation in non-derivative markets. 2. Based on the feedback and requests received from market participants, and with a view to enable smoo...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1332

RBI/2018-19/170 DNBR (PD) CC.No.098/03.10.001/2018-19 April 16, 2019 To All Systemically Important Non-Deposit taking Non-Banking Financial Company – Investment and Credit Companies Madam/Sir, Licensing as Authorised Dealer- Category II A large segment of population is increasingly getting connected with forex transactions on individual accounts. In order to increase the accessibility...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1230

RBI/2018-19/166 DCM (CC) No.2482/03.39.01/2018-19 April 08, 2019 Chairman/Managing Director/ Chief Executive Director All banks Madam/Sir, Minimum Standards for a Currency Chest As stated in para 15 of themonetary policy statement dated October 04, 2016, the Bank had constituted a Committee on Currency Movement (CCM) [Chair: Shri D.K. Mohanty, Executive Director]. The Committee, inter-alia, recommended that the Reserve Bank should encourage banks to open large Currency Chests (...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1548

RBI/2018-19/158 FIDD.CO.LBS.BC.No.17/02.08.001/2018-19 April 1, 2019 The Chairmen & Managing Directors/Chief Executive Officers All Lead Banks Madam/ Dear Sir, Assignment of Lead Bank Responsibility Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda has been notified vide Gazette of India Notification G.S.R. 2(E) dated January 2, 2019. The Notification called the ‘Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda Scheme, 2019’ has come into...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1560

RBI/2018-19/157 DBR.BP.BC.No.32/21.04.018/2018-19 April 1, 2019 All Commercial Banks (Excluding Regional Rural Banks) Madam / Dear Sir, Disclosure in the "Notes to Accounts" to the Financial Statements - Divergence in the asset classification and provisioning Please refer to ourcircular DBR.BP.BC.No.63/21.04.018/2016-17 dated April 18, 2017, on the captioned subject, requiring discl...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1677

RBI/2018-19/156 DBR.No.BP.BC.31/21.01.003/2018-19 April 1, 2019 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam/Dear Sir, Large Exposures Framework (LEF) Please refer to thecircular DBR.No.BP.BC.43/21.01.003/2016-17 dated December 01, 2016on the subject. After due consideration of the representations received from stakeholders, it has been decided as under: Non-centrally cleared derivatives exposures will be outside the purview of exposure limits t...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1354

RBI/2018-19/153 DPSS.CO.RPPD.No./2089/03.01.03/2018-19 March 28, 2019 The Chairman and 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 / Local Area Banks Madam / Dear Sir, Special Clearing operations on March 30 and 31, 2019 A reference is invited to the circular issued by Department of Government and Bank Accounts (DGBA.GBD.No.2...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1175

RBI/2018-19/151 FMRD.DIRD.13/14.03.041/2018-19 March 27, 2019 To All participants in rupee interest rate derivative markets Dear Sir/Madam Non-resident Participation in Rupee Interest Rate Derivatives Markets (Reserve Bank) Directions, 2019 Please refer to theBi-monthly Monetary Policy Statement in April 2018wherein it was announced that non-residents shall be given access to the Rupee Inte...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 858

RBI/2018-19/150 DBR.No.Leg.BC.30/09.07.005/2018-19 March 26, 2019 All Agency Banks Dear Sir/ Madam All Agency Banks to remain open for public on March 31, 2019 (Sunday) The Government of India has advised that all Pay and Account Offices will remain open on March 31, 2019 (Sunday) to facilitate government receipt and payment transactions. Accordingly, all Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2019 (Sunday). 2. Ba...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 981

RBI/2018-2019/146 DBR.BP.BC.No.29/21.07.001/2018-19 March 22, 2019 All Scheduled Commercial Banks (excluding Regional Rural Banks) Madam / Dear Sir, Deferral of Implementation of Indian Accounting Standards (Ind AS) Please refer to paragraph 3 of theStatement on Developmental and Regulatory Policiesissued with the First Bi-monthly Monetary Policy 2018-19 on April 5, 2018, wherein the implemen...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1005

RBI/2018-19/143 DGBA.GBD.No.2394/42.01.029/2018-19 March 20, 2019 All Agency Banks Dear Sir / Madam, Reporting and Accounting of Central Government Transactions of March 2019 Please refer toCircular DGBA.GBD.No.2324/42.01.029/2017-18 dated March 19, 2018advising the procedure to be followed for reporting and accounting of Central Government transactions (including CBDT, CBEC, Departmentalised Ministries and Non-Civil Ministries) at the Receiving/Nodal/Focal Point branches of your...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 964

RBI/2018-19/141 FMRD.FMSD.11/11.01.012/2018-19 March 15, 2019 To All eligible market participants Dear Sir/Madam Reserve Bank of India (Prevention of Market Abuse) Directions, 2019 Please refer to Paragraph 12 of theStatement on Developmental and Regulatory Policies of the Second Bi-monthly Monetary Policy Statement for 2018-19 dated June 06, 2018, wherein it was announced that the Reserve Bank shall introduce regulations, in line with best global practices, to prevent abuse in ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1095

RBI/2018-19/138 DPSS.CO.OD.No.1916/06.07.011/2018-19 March 7, 2019 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Authorised ATM Network Operators / Card Payment Network Operators / White Label ATM Operators Madam / Dear Sir, White Label ATMs (WLAs) in India – Review of Guidelines Please refer to ourcirculars DPSS.CO...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1042

RBI/2018-19/137 FIDD.CO.FSD.BC.No.15/05.02.001/2018-19 March 7, 2019 The Chairman / Managing Director & CEOs All Public & Private Sector Scheduled Commercial Banks Madam/Dear Sir, Interest Subvention Scheme for Short Term Crop Loans during the years 2018-19 and 2019-20 Please refer to ourcircular FIDD CO.FSD.BC.No.21/05.04.001/2017-18 dated June 7, 2018conveying continuation of Interest Subvention Scheme on the interim basis. In this regard, it is advised that Government...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1083

RBI/2018-19/131 Ref.No.IDMD/2394/08.02.032/2018-19 February 25, 2019 All Scheduled Commercial Banks All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/ All Primary Dealers. Dear Sir/Madam, Auction of Government of India Dated Securities Government of India has offered to sell (re-issue) five dated securities for a notified amount of₹12,000 croreas per the following details: Sr No Security Notified ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 853

RBI/2018-19/130 DNBR (PD) CC.No.097/03.10.001/2018-19 February 22, 2019 All NBFCs Madam/ Sir, Harmonisation of different categories of NBFCs Please refer to paragraph 5 of theStatement on Developmental and Regulatory Policiesof theSixth Bi-monthly Monetary Policy Statement for 2018-19 dated February 07, 2019on Harmonisation of NBFC Categories. 2.Over a period of time, evolution of the NBFC sector has resulted in several categories of NBFCs intended to focus on specific sector/...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1010

RBI/2018-19/129 DNBR (PD) CC.No.096/03.10.001/2018-19 February 22, 2019 All systemically important non-deposit taking NBFCs Madam / Dear Sir, Interest Subvention Scheme for MSMEs As you are aware, Government of India, on November 2, 2018, has announced ‘Interest Subvention Scheme for MSMEs 2018’. 2. A copy of the salient features and operational guidelines for implementation of the captioned scheme, released by the Ministry of Micro, Small and Medium Enterprises (M...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1088

RBI/2018-19/128 DBR.DIR.BC.No.27/13.03.00/2018-19 February 22, 2019 All Scheduled Commercial Banks (excluding Regional Rural Banks) All Small Finance Banks Dear Sir/Madam Review of Instructions on Bulk Deposit In terms of extant instructions, banks have been given discretion to offer differential rate of interest on the bulk deposits as per their requirements and Asset-Liability Management (ALM) projections. 2. In this connection, as announced in the ‘Statement on Devel...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 960