Notifications/Circulars |
Category : RBI |
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OBC warns Concurrent Auditors to duly Verify all Outward SWIFT messages
Posted Date : 22-Feb-2018 , 10:21:59 am | Posted By: CASANSAAR
ORIENTAL BANK OF COMMERCE
(A GOVERNMENT OF INDIA UNDERTAKING)
CORPORATE OFFICE, GURGAON
HO/I&C/Circular letter No./41/2017-18
Date: 19.02.2018
To All Concurrent Auditors / Branches / Offices
Re: Verification of all Outward SWIFT messages
Attention of all concurrent auditors is invited towards the scope & coverage of activities while undertaking audit work of Branches/Clusters/Offices. In this connection, detailed guidelines on scope & coverage of activities have ...
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RBI |
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RBI forms committee to measure effectiveness of bank audit in fraud mitigation
Posted Date : 22-Feb-2018 , 10:19:18 am | Posted By: CASANSAAR
Reserve Bank of India (RBI), as part of its ongoing efforts for strengthening of the supervisory framework in the country, has been issuing necessary instructions to banks from time to time on a variety of issues of prudential supervisory concern, including the management of operational risks inherent in the functioning of banks. The risks arising from the potential malicious use of the SWIFT infrastructure, created by banks for their genuine business needs, has always been a component of their ...
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RBI |
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Acceptance of coins
Posted Date : 16-Feb-2018 , 10:26:01 am | Posted By: Manya
RBI/2017-18/132
DCM (RMMT) No.2945/11.37.01/2017-18
February 15, 2018
The Chairman and Managing Director /
The Managing Director/
The Chief Executive Officer
All Banks
Dear Sir
Acceptance of coins
We invite a reference to Paragraph 1 (d) of our Master Circular DCM (NE) No. G - 1/08.07.18/2017-18 dated July 03, 2017 on Facility for Exchange of Notes and Coins where it was advised that none of the bank branches should refuse to accept small denomination notes and / or coins tend...
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RBI |
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Resolution of Stressed Assets – Revised Framework
Posted Date : 13-Feb-2018 , 09:36:05 am | Posted By: CASANSAAR
RBI/2017-18/131
DBR.No.BP.BC.101/21.04.048/2017-18
February 12, 2018
All Scheduled Commercial Banks
(Excluding Regional Rural Banks (RRB)),
All-India Financial Institutions
(Exim Bank, NABARD, NHB and SIDBI)
Dear Sir/Madam,
Resolution of Stressed Assets – Revised Framework
1. The Reserve Bank of India has issued various instructions aimed at resolution of stressed assets in the economy, including introduction of certain specific schemes at different points of time. In vi...
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RBI |
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Levy of Penal Interest – Delayed Reporting
Posted Date : 09-Feb-2018 , 09:14:50 pm | Posted By: CASANSAAR
RBI/2017-18/130
DCM (CC) No. 2885/03.35.01/2017-18
February 9, 2018
1. The Chairman & Managing Director / Chief Executive Officer
(All Banks having currency chests)
2. The Director Treasuries
(State Governments)
Madam / Dear Sir,
Levy of Penal Interest – Delayed Reporting
Please refer to ourMaster Direction DCM (CC) No.G-2/03.35.01/2017-18 dated October 12, 2017on captioned subject.
2. Presently, penal interest is levied for all cases where the bank has enjoyed ...
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RBI |
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Relief for MSME Borrowers registered under Goods and Services Tax
Posted Date : 08-Feb-2018 , 08:29:42 am | Posted By: CASANSAAR
RBI/2017-18/129
DBR.No.BP.BC.100/21.04.048/2017-18
February 07, 2018
All banks and NBFCs regulated by the Reserve Bank of India
Madam / Dear Sir,
Relief for MSME Borrowers registered under Goods and Services Tax (GST)
Presently, banks and NBFCs in India generally classify a loan account as Non-Performing Asset (NPA) based on 90 day and 120 day delinquency norms, respectively. It has been represented to us that formalisation of business through registration under GST had adver...
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RBI |
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Small Saving Schemes – Payment of Agency Commission
Posted Date : 01-Feb-2018 , 05:05:13 pm | Posted By: Manya
RBI/2017-18/127
DGBA.GBD.No.1972/15.02.005/2017-18
February 01, 2018
All Agency Banks handling Small Saving Schemes
Dear Sir / Madam
Small Saving Schemes – Payment of Agency Commission
Please refer to Government of India Notification F. No. 7/10/2014-NS dated October 10, 2017, wherein, all Public Sector Banks, ICICI Bank Ltd., Axis Bank Ltd., and HDFC Bank Ltd., were authorised to receive subscriptions under National Saving Time Deposit Scheme, 1981, National Saving (Monthl...
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RBI |
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Exim Bank's Government of India supported Line of Credit of USD 71.40 million to the Government of Côte d’Ivoire
Posted Date : 25-Jan-2018 , 06:02:55 pm | Posted By: Manya
RBI/2017-18/125
A.P. (DIR Series) Circular No.17
January 25, 2018
All Category – I Authorised Dealer Banks
Madam/Sir
Exim Bank's Government of India supported Line of Credit of USD 71.40 million to the Government of Côte d’Ivoire
Export-Import Bank of India (Exim Bank) has entered into an Agreement on May 22, 2017 with the Government of Côte d'Ivoire for making available to the latter, a Government of India supported Line of Credit (LoC) of USD 71.4 millio...
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RBI |
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Exim Bank's Government of India supported Line of Credit of USD 100 million to the Government of the Republic of Kenya
Posted Date : 25-Jan-2018 , 06:01:23 pm | Posted By: Manya
RBI/2017-18/124
A.P. (DIR Series) Circular No.16
January 25, 2018
All Category – I Authorised Dealer Banks
Madam/Sir
Exim Bank's Government of India supported Line of Credit of USD 100 million to the Government of the Republic of Kenya
Export-Import Bank of India (Exim Bank) has entered into an agreement dated January 11, 2017 with the Government of the Republic of Kenya for making available to the latter, a Government of India supported Line of Credit (LOC) of USD 100 mill...
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RBI |
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Formation of new districts in the State of Assam - Assignment of Lead Bank Responsibility
Posted Date : 19-Jan-2018 , 10:49:16 am | Posted By: Manya
RBI/2017-18/122
FIDD.CO.LBS.BC.No.2195/02.08.001/2017-18
January 18, 2018
The Chairmen & Managing Directors/ Chief Executive Officers
All Lead Banks
Dear Sir/Madam,
Formation of new districts in the State of Assam -
Assignment of Lead Bank Responsibility
The Government of Assam vide Gazette Notifications dated January 25, 2016, February 26, 2016 and August 5, 2016 had notified the creation of eight new districts in the State of Assam. It has been decided to assign the lead bank respo...
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RBI |
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Interest rates for Small Savings Schemes - RBI
Posted Date : 12-Jan-2018 , 08:41:01 am | Posted By: CASANSAAR
RBI/2017-18/120
DGBA.GBD.1781/15.02.005/2017-18
January 11, 2018
All Agency Banks handling Small Saving Schemes
Dear Sir
Interest rates for Small Savings Schemes
Please refer to ourcircular DGBA.GBD.954/15.02.005/2017-18 dated October 12, 2017on the above subject. The Government of India, had vide their Office Memorandum (OM) No.F.No.01/04/2016–NS dated December 27, 2017 advised the rate of interest on various small savings schemes for the fourth quarter of the financial ye...
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RBI |
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7.75% Savings (Taxable) Bonds, 2018 - Amendments
Posted Date : 10-Jan-2018 , 08:52:19 am | Posted By: CASANSAAR
RBI/2017-18/119
IDMD.CDD.No.1728/13.01.299/2017-18
January 08, 2018
The Chairman & Managing Director
State Bank of India & 18 Nationalised Banks
Axis Bank Ltd., ICICI Bank Ltd., HDFC Bank Ltd.,
Stock Holding Corporation of India ltd.(SHCIL)
Dear Sir/Madam,
7.75% Savings (Taxable) Bonds, 2018 - Amendments
Please refer to ourCircular RBI/2017-18/114 IDMD.CDD.No.1671/13.01....
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Category :
RBI |
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Submission of Financial Information to Information Utilities
Posted Date : 05-Jan-2018 , 10:09:47 am | Posted By: Manya
RBI/2017-18/115
DNBR.PD(ARC)CC.No.05/26.03.001/2017-18
January 04, 2018
The Chairman/ Managing Director/ Chief Executive Officer
All registered Asset Reconstruction Companies
Dear Sir/Madam,
Submission of Financial Information to Information Utilities
Please refer to circular DBR.No.Leg.BC.98/09.08.019/2017-18 dated December 19,
2017 on the captioned subject. Instructions contained therein are applicable to all
registered Asset Reconstruction Companies (ARCs) a...
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RBI |
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Refinancing of External Commercial Borrowings
Posted Date : 05-Jan-2018 , 10:08:07 am | Posted By: Manya
Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to paragraph 2 of the Statement on Developmental and Regulatory Policies issued along with the Fifth Bi-monthly Monetary Policy Statement for 2017-18. In terms of the extant provisions in paragraphs 2.15 and 2.16 (xiii) of Master Direction No.5 dated January 1, 2016 on “External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised ...
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RBI |
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0 | Hits : 1119
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XBRL Returns – Harmonization of Banking Statistics
Posted Date : 05-Jan-2018 , 10:06:20 am | Posted By: Manya
The Reserve Bank of India had constituted an inter-departmental Task-force in December 2014, to provide “harmonised” definitions of major balance sheet/ profit and loss/ off-balance sheet items covered in the banking/ regulatory returns received across RBI departments. A set of harmonised definitions for 106 data elements reported in multiple returns was released vide press release dated March 30, 2017. The Reserve Bank has now harmonized the definitions for another set of 83 data el...
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RBI |
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Master Direction – Foreign Investment in India
Posted Date : 05-Jan-2018 , 10:04:18 am | Posted By: Manya
Foreign Investment in India is regulated in terms of clause (b) sub-section 3 of
section 6 and section 47 of the Foreign Exchange Management Act, 1999 (FEMA)
read with Foreign Exchange Management (Transfer or Issue of a Security by a
Person resident Outside India) Regulations, 2017 issued vide Notification No. FEMA
20(R)/2017-RB dated November 7, 2017. These Regulations are amended from
time to time to incorporate the changes in the regulatory framework and published
through amendment noti...
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RBI |
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7.75% Savings (Taxable) Bonds, 2018
Posted Date : 04-Jan-2018 , 11:47:10 am | Posted By: Manya
It has been decided by the Government of India to issue 7.75% Savings (Taxable) Bonds, 2018 with effect from January 10, 2018 in terms of GoI notification F.No.4(28) - W&M/2017 dated January 03, 2018. A copy of the Government Notification is enclosed. The salient features of the Bond are detailed below. A copy of the Circular, Government Notification and Press Release with regard to this Scheme also have been placed on our website (www.rbi.org.in).
...
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RBI |
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Cessation of 8 percent GoI Savings (Taxable) Bonds 2003
Posted Date : 02-Jan-2018 , 05:59:25 pm | Posted By: Manya
Government of India
Ministry of Finance
Department of Economic Affairs
Budget Division, (W&M Section)
New Delhi, January 01, 2018
Notification
Cessation of 8 percent GoI Savings (Taxable) Bonds 2003
No.F.4(10)-W&M/2003 : The Government of India, hereby notifies that the 8 percent GoI Savings(Taxable) Bonds, 2003 as per Notification F.4(10)-W&M/2003, dated March 21, 2003 shall cease for subscription with effect from the close of business on Tuesday, the 2n...
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Category :
RBI |
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0 | Hits : 1014
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Prompt implementation of Governments’ instructions by agency banks
Posted Date : 22-Dec-2017 , 08:55:47 am | Posted By: CASANSAAR
RBI/2017-18/111
DGBA.GBD/1616/15.02.005/2017-18
December 21, 2017
All Agency Banks
Dear Sir / Madam,
Prompt implementation of Governments’ instructions by agency banks
It is brought to our notice that some agency banks are not adhering to instructions/ notifications issued by Government (Central as well as States) promptly by stating that further communications have not been received by them from RBI.
2. In this connection, all agency banks are advised to scrupulously fo...
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RBI |
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0 | Hits : 1077
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Submission of Financial Information to Information Utilities - RBI
Posted Date : 19-Dec-2017 , 02:35:30 pm | Posted By: Manya
RBI/2017-18/110
DBR.No.Leg.BC.98/09.08.019/2017-18
December 19, 2017
All Scheduled Commercial Banks (Including RRBs),
Small Finance Banks, Local Area Banks,
All Co-operative Banks,
All NBFCs and All India Financial Institutions
Dear Sir/Madam
Submission of Financial Information to Information Utilities
According to Section 215 of Insolvency and Bankruptcy Code (IBC), 2016, a financial creditor shall submit financial information and information relating to assets in relation to...
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RBI |
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1 | Hits : 12567
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Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions
Posted Date : 14-Dec-2017 , 05:51:27 pm | Posted By: Manya
RBI/2017-18/109
DCBR.BPD.(PCB/RCB).Cir.No.06/12.05.001/2017-18
December 14, 2017
The Chief Executive Officer
All Primary (Urban) Co-operative Banks/
All State Co-operative Banks/
All District Central Co-operative Banks
Madam / Dear Sir,
Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions
Please refer to our circular UBD.BSD.I/PCB/No.45/12.05.00/2001-02 dated May 30, 2002 and para 13 of circular RPCD.CO.RCB...
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RBI |
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Settlement of Agency transactions in certain cases (for Funds and Agency Commission) directly from Reserve Bank of India
Posted Date : 07-Dec-2017 , 06:36:52 am | Posted By: Manya
RBI/2017-18/107
DGBA.GBD.No-1498/31.02.007/2017-18
December 7, 2017
The Chairman/ Managing Director/ Chief Executive Officer/
Agency Banks
Dear Sir/ Madam
As per the existing arrangements in certain states, in certain cases, some agency banks are routing their agency transactions of state governments through another agency bank, that acts as an aggregator, that in turn settles these agency transactions with concerned Regional Office of RBI for both receipts and paym...
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RBI |
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Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions
Posted Date : 07-Dec-2017 , 12:30:41 am | Posted By: Manya
RBI/2017-18/105
DPSS.CO.PD No. 1633/02.14.003/2017-18
December 06, 2017
The Chairman and Managing Director / Chief Executive Officers
All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks /
State Co-operative Banks / District Central Co-operative Banks /
Payment Banks and Small Finance Banks /All Card Network Providers
...
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Category :
RBI |
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0 | Hits : 1635
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Reporting of Transactions by agency banks to RBI
Posted Date : 01-Dec-2017 , 09:44:09 am | Posted By: CASANSAAR
RBI/2017-18/103
DGBA.GBD.1472/31.02.007/2017-18
November 30, 2017
All Agency Banks
Dear Sir
Reporting of Transactions by agency banks to RBI
It has been brought to our notice that some agency banks are reporting government transactions after considerable delay and along with the current transactions to RBI, without taking necessary authorisation from the concerned government departments.
2....
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Category :
RBI |
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0 | Hits : 1755
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Conversion of debt into equity- Review
Posted Date : 24-Nov-2017 , 08:26:05 am | Posted By: CASANSAAR
RBI/2017-18/101
DNBR.PD(ARC)CC. No.04/26.03.001/2017-18
November 23, 2017
The Chairman/ Managing Director/ Chief Executive Officer
All registered Asset Reconstruction Companies
Dear Sir/Madam,
Conversion of debt into equity- Review
Please refer to ourCircular DNBS(PD)CC.No. 35/SCRC/26.03.001/2013-14 dated January 23, 2014on the above subject.
2. On a review of the limit imposed on shareholding of the post converted equity of the borrower company under reconstruction by Asse...
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Category :
RBI |
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0 | Hits : 1829
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Special Deposit Scheme (SDS)-1975 Payment of interest for calendar year 2017
Posted Date : 24-Nov-2017 , 08:25:17 am | Posted By: CASANSAAR
RBI/2017-18/100
DGBA.GBD.No.1387/15.01.001/2017-18
November 23, 2017
The Chairman/Managing Director/Chief Executive Officer/
Agency Banks Handling the Special Deposit Scheme 1975
Dear Sir
Special Deposit Scheme (SDS)-1975
Payment of interest for calendar year 2017
We want to inform that gazette notifications related to interest rates for SDS 1975 are available in Government of India website viz.egazette.nic.inwhich can be perused for guidance. You may please ensure that interes...
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Category :
RBI |
Comments :
0 | Hits : 1786
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Auction for Sale (Re-issue) of Government Stock (GS)
Posted Date : 22-Nov-2017 , 05:58:58 pm | Posted By: Manya
Subject to the limit of ` 15000 Cr, being total notified amount, GoI will have the option to retain additional
subscription up to ` 1000 Cr against any of the above security. The sale will be subject to the terms and
conditions spelt out in this notification (called ‘Specific Notification’). The Stock will be sold through Reserve Bank
of India, Mumbai Office, Fort, Mumbai- 400 001 as per the terms and conditions specified in the General
Notification F.No.4(13)–W&M/2008,...
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Category :
RBI |
Comments :
0 | Hits : 1191
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Auction of Government of India Dated Securities
Posted Date : 22-Nov-2017 , 05:50:55 pm | Posted By: Manya
RBI/2017-18/98
Ref.No.IDMD/1243/08.02.032/2017-18
November 20, 2017
All Scheduled Commercial Banks
All State Co-operative Banks/All Scheduled Primary
(Urban) Co-operative Banks /All Financial Institutions/
All Primary Dealers....
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Category :
RBI |
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0 | Hits : 1135
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Over-the-Counter Government Securities Transaction by Foreign Portfolio Investors (FPIs)
Posted Date : 17-Nov-2017 , 08:08:17 am | Posted By: CASANSAAR
RBI/2017-18/97
FMRD.DIRD.05/14.03.007/2017-18
November 16, 2017
All market participants
Dear Sir/Madam,
Over-the-Counter Government Securities Transaction by Foreign Portfolio Investors (FPIs) – Settlement Period
In terms of RBIcircular FMRD.DIRD.06/14.03.007/2014-15 dated March 20, 2015, Foreign Portfolio Investors (FPIs) are required to settle transactions in Government Securities in the Over-the-Counter-(OTC) market on a T+2 basis.
2. As announced in paragraph 13 of t...
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Category :
RBI |
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0 | Hits : 991
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Secondary market transactions in Government Securities – Notional Short Sale
Posted Date : 17-Nov-2017 , 08:07:27 am | Posted By: CASANSAAR
RBI/2017-18/96
FMRD.DIRD.04/14.03.007/2017-18
November 16, 2017
All market participants
Dear Sir/Madam,
Secondary market transactions in Government Securities – Notional Short Sale
In terms of RBIcirculars IDMD.PCD.21/14.03.07/2011-12 dated June 21, 2012, andIDMD.PCD.14/14.03.07/2011-12 dated December 28, 2011market participants undertaking ‘notional’ short sale are not permitted to use securities from their HTM/AFS/HFT portfolio for delivery against the short s...
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RBI |
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0 | Hits : 1108
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