| Notifications/Circulars |
Category : RBI |
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Prohibition on dealing in Virtual Currencies (VCs)
Posted Date : 07-Apr-2018 , 10:03:26 am | Posted By: Manya
RBI/2017-18/154
DBR.No.BP.BC.104 /08.13.102/2017-18
April 6, 2018
All Commercial and Co-operative Banks /Payments Banks/Small Finance Banks /
NBFCs / Payment System Providers
Madam / Dear Sir,
Prohibition on dealing in Virtual Currencies (VCs)
Reserve Bank has repeatedly through its public notices on December 24, 2013, February 01, 2017 and December 05, 2017, cautioned users, holders and traders of virtual currencies, including Bitcoins, regarding various risks associated in dea...
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RBI |
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Comprehensive Guidelines on Derivatives: Modifications
Posted Date : 07-Apr-2018 , 10:02:13 am | Posted By: Manya
RBI/2017-18/151
DBR.No.BP.BC.103/21.04.157/2017-18
April 6, 2018
The Chairman and Managing Directors/ Chief Executive Officers of
All Scheduled Commercial Banks (excluding RRBs and LABs),
All India Term-Lending & Refinancing Institutions &
Primary Dealers
Dear Sir,
Comprehensive Guidelines on Derivatives: Modifications
Please refer to para 8.3 of the circular DBOD No.BP.BC.44/21.04.157/2011-12 dated November 2, 2011, in terms of which ‘user suitability and approp...
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RBI |
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Investment by Foreign Portfolio Investors (FPI) in Government Securities -
Posted Date : 07-Apr-2018 , 10:00:42 am | Posted By: Manya
RBI/2017-18/150
A.P.(DIR Series) Circular No. 22
April 06, 2018
To
All Authorized Persons
Madam / Sir
Investment by Foreign Portfolio Investors (FPI) in Government Securities -
Medium Term Framework – Review
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified vide Notification No. FEMA.20/2000-RB dated May ...
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RBI |
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RBI defers implementation of Ind AS for banks by one year
Posted Date : 06-Apr-2018 , 09:49:33 am | Posted By: CASANSAAR
This Statement sets out various developmental and regulatory policy measures for strengthening regulation and supervision; broadening and deepening financial markets; improving currency management; promoting financial inclusion and literacy; and, facilitating data management.
I. Regulation and Supervision
1. Mandatory Loan Component in Working Capital Finance
With a view to promoting greater credit discipline among working capital borrowers, it is proposed to stipulate a minimum level o...
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RBI |
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Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks – Spreading of MTM losses and creation of Investment Fluctuation Reserve (IFR)
Posted Date : 02-Apr-2018 , 05:11:52 pm | Posted By: Manya
RBI/2017-18/147
DBR.No.BP.BC.102/21.04.141/2017-18
April 2, 2018
All Scheduled Commercial Banks
(Excluding Regional Rural Banks),
Small Finance Banks
Dear Sir/Madam,
Prudential Norms for Classification, Valuation and Operation of Investment
Portfolio by Banks – Spreading of MTM losses and creation of Investment
Fluctuation Reserve (IFR)
Please refer to Master Circular DBR.No.BP.BC.6/21.04.141/2015-16 dated July 1, 2015 on the captioned subject. Banks are required to mar...
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RBI |
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Special Clearing operations on March 31, 2018
Posted Date : 28-Mar-2018 , 06:16:30 pm | Posted By: Manya
RBI/2017-18/145
DPSS.CO.CHD.No./2707/03.01.03/2017-18
March 28, 2018
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,...
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RBI |
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Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2017-18)
Posted Date : 27-Mar-2018 , 05:05:19 pm | Posted By: Manya
RBI/2017-18/144
DGBA.GBD.No.2388/42.01.029/2017-18
March 27, 2018
All agency banks
Dear Sir / Madam
Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2017-18)
The Government of India has desired that all government transactions with banks for Financial Year 2017-18 must be accounted for within the same financial year and has requested that, as in previous years, certain special arrang...
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RBI |
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Implementation of UNSCR 2397 (2017), pertaining to Democratic People's Republic of Korea (DPRK)
Posted Date : 24-Mar-2018 , 10:21:09 am | Posted By: Manya
RBI/2017-18/143
DBR.AML.No.8528/14.06.056/2017-18
March 23, 2018
All Regulated Entities
Dear Sir/Madam,
Implementation of UNSCR 2397 (2017), pertaining to Democratic People's Republic of Korea (DPRK)
Please find enclosed a copy of the ‘Order’ issued by Ministry of External Affairs dated March 5, 2018, published in the Gazette of India on implementation of United Nations Security Council Resolutions 2397 (2017) on Democratic People’s Republic of Korea.
2. Regu...
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RBI |
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Reporting and Accounting of Central Government Transactions of March 2018
Posted Date : 19-Mar-2018 , 06:44:09 am | Posted By: Manya
RBI/2017-18/142
DGBA.GBD.No.2324/42.01.029/2017-18
March 19, 2018
All Agency Banks
Dear Sir / Madam,
Reporting and Accounting of Central Government Transactions of March 2018
Please refer to Circular DGBA.GAD.No. 2376/42.01.029/2016-17 dated March 16, 2017 advising 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 y...
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RBI |
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Submission of returns by the Government-owned Non-Banking Financial Companies - RBI
Posted Date : 15-Mar-2018 , 09:55:39 pm | Posted By: CASANSAAR
RBI/2017-18/141
DNBS.PD.CC.No.1925/66.08.001/2017-18
March 15, 2018
To
All Government-Owned Non-Banking Financial Companies (NBFCs)
Madam/ Sir,
Submission of returns by the
Government-owned Non-Banking Financial Companies
In exercise of the powers conferred by sections 45JA, 45K and 45L of the Reserve Bank of India Act, 1934 (hereinafter referred to as the RBI Act), it has been decided to apply theMaster Direction – Non-Banking Financial Company Returns (Reserve Bank) D...
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RBI |
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Agency commission payable to banks for operating Special Deposit Scheme (SDS)
Posted Date : 15-Mar-2018 , 09:54:51 pm | Posted By: CASANSAAR
RBI/2017-18/140
DGBA.GBD.2294/15.01.001/2017-18
March 15, 2018
All Agency Banks handling Special Deposit Scheme
Dear Sir,
Agency commission payable to banks for operating Special Deposit Scheme (SDS)
Please refer to para 2 of ourMaster Circular RBI/2017-18/2 dated July 1, 2017on Conduct of Government Business by Agency Banks- Payment of Agency Commission where in it is mentioned that SDS transactions undertaken by agency banks are eligible for agency commission.
2. In this...
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Discontinuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits
Posted Date : 13-Mar-2018 , 08:30:00 pm | Posted By: CASANSAAR
RBI/2017-18/139
A.P. (DIR Series) Circular No. 20
March 13, 2018
All Authorised Dealer Category – I Banks
Madam/ Sir
Discontinuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to paragraph 2 ofA.P. (DIR Series) Circular No. 24 dated November 1, 2004andparagraph No. 5.5of Master Direction No.5 dated January 1, 2016 on ‘External Commercial Borrowings, ...
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RBI |
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Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions
Posted Date : 12-Mar-2018 , 11:48:05 pm | Posted By: Manya
RBI/2017-18/138
A.P. (DIR Series) Circular No. 19
March 12, 2018
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Hedging of Commodity Price Risk and Freight Risk in Overseas Markets
(Reserve Bank) Directions
Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to regulation 6 and 6A of the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No.FEMA. 25/RB-2000 dated May 3, 2000)...
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RBI |
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Separate limit of Interest Rate Futures (IRFs) for Foreign Portfolio Investors (FPIs)
Posted Date : 03-Mar-2018 , 03:32:31 pm | Posted By: Manya
RBI/2017-18/137
FMRD.DIRD.6/14.03.001/2017-18
March 1, 2018
All market participants
Madam/Sir,
Separate limit of Interest Rate Futures (IRFs) for Foreign Portfolio Investors (FPIs)
Please refer to Paragraph 8 of the statement on Developmental and Regulatory Policies, issued as part of the third Bi-monthly Monetary Policy Statement for 2017- 18 dated August 02, 2017, wherein a separate limit of Interest Rate Futures for Foreign Portfolio Investors was proposed.
2. Currently, th...
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RBI |
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Priority Sector Lending – Targets and Classification
Posted Date : 03-Mar-2018 , 03:30:49 pm | Posted By: Manya
RBI/2017-18/135
FIDD.CO.Plan.BC.18/04.09.01/2017-18
March 01, 2018
The Chairman/ Managing Director & CEOs
All Scheduled Commercial Banks
Dear Sir/ Madam,
Priority Sector Lending – Targets and Classification
Please refer to the revised priority sector guidelines issued to banks vide FIDD.CO.Plan.BC.54/04.09.01/2014-15 circular dated April 23, 2015. It was stipulated therein under Para (II) (i) that the sub-targets for lending to small and marginal farmers and micro ente...
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RBI |
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Review of Currency Distribution & Exchange Scheme (CDES)
Posted Date : 03-Mar-2018 , 03:26:29 pm | Posted By: Manya
RBI/2017-18/136
DCM (CC) No. 3071/03.41.01/2017-18
March 01, 2018
The Chairman & Managing Director /
Chief Executive Officer,
All Banks
Madam / Dear Sir,
Review of Currency Distribution & Exchange Scheme (CDES)
Please refer to the announcement made in Part B of the Bi-Monthly Review of Monetary Policy dated February 7, 2018. The RBI has been providing several incentives to banks, from time to time for installation of various machines by them to encourage technology abso...
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RBI |
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Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange Traded Currency Derivatives (ETCD) Market
Posted Date : 27-Feb-2018 , 11:17:51 am | Posted By: Manya
RBI/2017-18/134
A. P. (DIR Series) Circular No. 18
February 26, 2018
All Category - I Authorised Dealer banks
Madam/Sir,
Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange Traded Currency Derivatives (ETCD) Market
Attention of Authorized Dealers Category - I (AD Category - I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contract...
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RBI |
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Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer
Posted Date : 24-Feb-2018 , 09:19:50 am | Posted By: CASANSAAR
RBI/2017-18/133
DNBR.PD.CC.No 091/03.10.001/2017-18
February 23, 2018
All NBFCs
Madam/ Dear Sir,
Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer
The Reserve Bank of India (RBI) has brought into operation today theOmbudsman Scheme for Non-Banking Financial Companies, 2018(The Scheme). The Scheme is available on the RBI websitehttp://www.rbi.org.in. The Non-Banking Financial Companies (NBFCs) that are covered und...
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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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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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