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Category : RBI |
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Systems and Controls for conduct of government banking - RBI
Posted Date : 08-Apr-2017 , 08:27:14 am | Posted By: CASANSAAR
RBI/2016-17/271
DGBA.GAD.No.2646/31.02.007/2016-17
April 7, 2017
All Agency Banks
Dear Sir/Madam,
Systems and Controls for conduct of government banking
Please refer to ourMaster Circulars DGBA.GAD.No.2/31.12.010/2015-16 dated July 1, 2015on Conduct of Government Business by Agency Banks - Payment of Agency Commission andDGBA.GAD.No.H-1/31.05.001/2015-16 dated July 1, 2015on Disbursement of Governme...
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Systems and Controls for conduct of government banking - RBI
Posted Date : 08-Apr-2017 , 08:27:14 am | Posted By: CASANSAAR
RBI/2016-17/271
DGBA.GAD.No.2646/31.02.007/2016-17
April 7, 2017
All Agency Banks
Dear Sir/Madam,
Systems and Controls for conduct of government banking
Please refer to ourMaster Circulars DGBA.GAD.No.2/31.12.010/2015-16 dated July 1, 2015on Conduct of Government Business by Agency Banks - Payment of Agency Commission andDGBA.GAD.No.H-1/31.05.001/2015-16 dated July 1, 2015on Disbursement of Governme...
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RBI |
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Interest rates for Small Savings Schemes
Posted Date : 06-Apr-2017 , 08:44:46 pm | Posted By: Md Irsad Alam
Please refer to ourcircular DGBA.GAD.2012/15.02.005/2016-17 dated February 9, 2017on the above subject. The Government of India, had vide their Office Memorandum (OM) No.F.No.1/4/2016–NS.II dated March 31, 2017 advised the rate of interest on various small savings schemes for the first quarter of the financial year 2017-18 (copy enclosed).
2. The contents of this circular may be brought to the notice of the branches of your bank operating Government Small Saving Schemes for necessary acti...
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RBI |
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Liquidity Adjustment Facility – Repo and Reverse Repo Rates
Posted Date : 06-Apr-2017 , 08:42:16 pm | Posted By: Md Irsad Alam
As announced in theFirst Bi-monthly Monetary Policy Statement, 2017-18 Resolution of the Monetary Policy Committee (MPC), it has been decided to keep the Repo rate under the Liquidity Adjustment Facility (LAF) unchanged at6.25 per cent.
However, consequent upon the narrowing of the LAF corridor, the Reverse Repo rate under the LAF now stands adjusted at6.0 per cent.
This change will come into force with immediate effect. All other terms and conditions of the current LAF Scheme will remain unch...
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Marginal Standing Facility
Posted Date : 06-Apr-2017 , 08:36:56 pm | Posted By: Md Irsad Alam
As announced in theFirst Bi-monthly Monetary Policy Statement, 2017-18 Resolution of the Monetary Policy Committee (MPC), consequent upon the narrowing of the LAF corridor, the Marginal Standing Facility (MSF) rate now stands adjusted at6.50 per cent.
All other terms and conditions of the current MSF scheme will remain unchanged.
...
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RBI |
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Reduction in bank rate
Posted Date : 06-Apr-2017 , 08:35:13 pm | Posted By: Md Irsad Alam
Please refer to our circular DBR.No.Ret.BC.19/12.01.001/2016-17 dated October 04, 2016 on the captioned subject.
2. As announced in the First Bi-Monthly Monetary Policy Statement 2017-18 dated April 06, 2017, the Bank Rate stands adjusted by 25 basis points from 6.75 per cent to 6.50 per cent with effect from April 06, 2017.
3. All penal interest rates on shortfall in reserve requirements, which are specifically linked to the Bank Rate, also stand revised as indicated in the Annex....
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Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions – Continuance of Special Measures
Posted Date : 31-Mar-2017 , 03:53:59 pm | Posted By: Md Irsad Alam
A reference is invited to ourcircular DPSS.CO.PD.No.1515/02.14.003/2016-17 dated December 16, 2016wherein special measures for debit card transactions (including for payments made to Government) were introduced for a temporary period starting January 1, 2017 through March 31, 2017. Further, attention is also invited to “Draft Circular - Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions” dated February 16, 2017wherein comments from the public were sought for ...
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RBI |
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Assignment of Lead Bank Responsibility - RBI
Posted Date : 31-Mar-2017 , 08:40:29 am | Posted By: CASANSAAR
RBI/2016-17/262
FIDD.CO.LBS.BC. No. 26/02.01.001/2016-17
March 30, 2017
The Chairmen and Managing Directors
SLBC Convenor Banks
Dear Sir,
Assignment of Lead Bank Responsibility
As per the Gazette of India Notification dated February 22, 2017, the merger of Associate banks with State Bank of India has been notified. The Order comes into effect on April 1, 2017.
2. Therefore, it has be...
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All payment systems to remain closed on April 1, 2017 - RBI
Posted Date : 30-Mar-2017 , 10:25:44 am | Posted By: CASANSAAR
RBI/2016-17/260
DPSS.CO.CHD.No./2720/03.01.03/2016-17
March 29, 2017
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
Dear Sir/ Madam,
All payment systems to remain closed on April 1, 2017
A reference is invited to the our recentcircular RBI/2016-17/257DPSS.CO.CHD.No./2695/03.01.03/2016-17 dated Ma...
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RBI |
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Opening of all Agency Banks for government business on April 1, 2017 – Revised instructions
Posted Date : 30-Mar-2017 , 10:24:53 am | Posted By: CASANSAAR
RBI/2016-17/259
DBR.No.Leg.BC.56/09.07.005/2016-17
March 29, 2017
All Agency Banks
Dear Sir/ Madam,
Opening of all Agency Banks for government business on April 1, 2017 – Revised instructions
We had vide ourcircular DBR.No.Leg. BC.55/09.07.005/2016-17 dated March 24, 2017advised all Agency Banks to keep all their branches dealing with government business open on all days in the current financial year and on April 1, 2017 (including Saturday, Sunday and all holidays).
2. ...
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RBI |
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All Agency Banks to remain open for public on all days from March 25, 2017 to April 1, 2017
Posted Date : 25-Mar-2017 , 09:10:42 am | Posted By: CASANSAAR
RBI/2016-17/256
DBR.No.Leg.BC.55/09.07.005/2016-17
March 24, 2017
All Agency Banks
Dear Sir/ Madam,
All Agency Banks to remain open for public on all days from March 25, 2017 to April 1, 2017
The Government of India has advised that all Pay and Account Offices will remain open on all days up to April 1, 2017 to facilitate government receipt and payment functions. Accordingly, all Agency Banks are advised to keep all their branches dealing with government business open on all days...
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RBI |
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Special Clearing operations on March 30 and 31, 2017 - RBI
Posted Date : 24-Mar-2017 , 08:37:26 am | Posted By: CASANSAAR
RBI/2016-17/255
DPSS.CO.CHD.No./2656/03.01.03/2016-17
March 23, 2017
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, 2017
A reference is invited to the circular issued by our Department of Government and Bank Accounts (DGBA.GAD.No.2...
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Risk Management and Inter-bank Dealings: Operational flexibility for Indian subsidiaries of Non-resident Companies
Posted Date : 22-Mar-2017 , 09:04:01 am | Posted By: CASANSAAR
RBI/2016-17/254
A.P. (DIR Series) Circular No. 41
March 21, 2017
To,
All Authorised Dealer Category - I Banks
Madam / Sir,
Risk Management and Inter-bank Dealings: Operational flexibility for Indian subsidiaries of Non-resident Companies
Attention of Authorised Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA. 25/RB-2000 dated M...
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Branches of SBBJ, SBH, SBM, SBP & SBT to operate as SBI branches wef 1st April
Posted Date : 21-Mar-2017 , 08:10:41 am | Posted By: CASANSAAR
Date : Mar 20, 2017
Branches of SBBJ, SBH, SBM, SBP and SBT to operate as branches of SBI from April 1, 2017
All branches of State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT) will function as branches of State Bank of India from April 1, 2017. Customers, including depositors of State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala...
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RBI |
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Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 - Clarification
Posted Date : 19-Mar-2017 , 08:19:58 pm | Posted By: Md Irsad Alam
Please refer to our letter IDMD.No.1451/08.03.016/2016-17 dated December 16, 2016 andNotification No. S.O.4061(E) dated December 16, 2016issued by the Government of India about announcement of“Pradan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016. It has been brought to our notice that there is lack of clarity amongst investors on the reference number that needs to be quoted onForm Vwhile uploading the same to the Income tax Authorities.
Currently, banks are issuing an acknowledgemen...
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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 (2016-17)
Posted Date : 19-Mar-2017 , 12:07:11 am | Posted By: Md Irsad Alam
The Government of India has desired that all government transactions with banks must be accounted for within the same financial year and has requested that certain special arrangements be made for the purpose, as in previous years. Accordingly, all agency banks should keep the counters of their designated branches conducting government business open for government transactions up to 6.00 p.m. on March 30, 2017 and up to 8.00 p.m. on March 31, 2017. All electronic transactions would, however, con...
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Disbursal of loan amount in cash
Posted Date : 11-Mar-2017 , 12:18:00 pm | Posted By: CASANSAAR
RBI/2016-17/245
DNBR (PD) CC.No.086/03.10.001/2016-17
March 09, 2017
All NBFCs
Madam/ Sir,
Disbursal of loan amount in cash
Reference is invited to instructions contained in para 37(iii)(b) of Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 and Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 which states that high value l...
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Exim Bank's Government of India supported Line of Credit of USD 92.18 million to the Government of Tanzania
Posted Date : 11-Mar-2017 , 12:13:09 pm | Posted By: CASANSAAR
RBI/2016-17/247
A.P. (DIR Series) Circular No. 38
March 09, 2017
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Exim Bank's Government of India supported Line of Credit of USD 92.18
million to the Government of Tanzania
Export-Import Bank of India (Exim Bank) has entered into an agreement on July 10, 2016 with the Government of Tanzania for making available to the...
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RBI |
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Formation of seven new districts in the State of Manipur - Assignment of Lead Bank Responsibility
Posted Date : 11-Mar-2017 , 12:09:22 pm | Posted By: CASANSAAR
RBI/2016-17/248
FIDD.CO.LBS.BC.No.23/02.08.001/2016-17
March 9, 2017
The Chairmen & Managing Directors
All Lead Banks
Dear Sir/Madam,
Formation of seven new districts in the State of Manipur -
Assignment of Lead Bank Responsibility
The Government of Manipur vide Gazette Notification dated December 8, 2016 had notified the creation of seven new districts in the State of Manipur. It has been decided to assign the lead bank responsibility of the seven new districts as detailed b...
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RBI |
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Gold Monetisation Scheme - RBI
Posted Date : 07-Mar-2017 , 07:17:06 am | Posted By: CASANSAAR
RBI/2016-17/243
DGBA.GAD.No.2294/15.04.001/2016-17
March 6, 2017
All Agency Banks
Dear Sir/Madam
Gold Monetisation Scheme
Please refer to RBIMaster Direction No.DBR.IBD.No.45/23.67.003/2015-16 dated October 22, 2015(updated up to January 21, 2016) on the above subject. In order to operationalise the scheme, we advise the following:
2. In order to have uniformity in reporting, reconciliation...
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RBI |
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Infrastructure Financing- Definition of 'Infrastructure Lending'
Posted Date : 03-Mar-2017 , 07:52:00 am | Posted By: CASANSAAR
RBI/2016-17/242
DNBR.PD.CC.No.085/03.10.001/2016-17
March 2, 2017
All Non-Banking Financial Companies
Dear Sir/ Madam,
Infrastructure Financing- Definition of 'Infrastructure Lending'
Please refer to the definition of 'Infrastructure Lending' contained in theNon-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016andNon-Banking Financial Company – Non-Systemically Important N...
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Financial Literacy by FLCs (Financial Literacy Centres) and rural branches - Policy Review
Posted Date : 03-Mar-2017 , 07:50:59 am | Posted By: CASANSAAR
RBI/2016-17/236
FIDD.FLC.BC.No.22/12.01.018/2016-17
March 02, 2017
To Chairman/MD & CEO
Scheduled Commercial Banks
(Including RRBs)
Dear Sir/Madam,
Financial Literacy by FLCs (Financial Literacy Centres) and rural branches - Policy Review
Please refer to ourcircular FIDD.FLC.BC.No.18/12.01.018/2015-16 dated January 14, 2016on guidelines for FLCs and rural branches. In terms of this circular, FLCs and rural branches were advised to conduct two types of camps viz. - Special c...
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Sovereign Gold Bonds, 2016-17 – Series IV - Operational Guidelines
Posted Date : 24-Feb-2017 , 08:10:03 am | Posted By: CASANSAAR
RBI/2016-17/235
IDMD.CDD.No.2188/14.04.050/2016-17
February 23, 2017
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 Bonds, 2016-17 – Series IV - Operational Guidelines
This has reference to theGoI notification F.No. 4(16)-B(W&M)/2016andRBI circular IDMD.CDD....
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RBI |
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Issuance of Rupee denominated bonds overseas – Multilateral and Regional Financial Institutions as Investors
Posted Date : 19-Feb-2017 , 08:33:27 pm | Posted By: CASANSAAR
RBI/2016-17/233
A. P. (DIR Series) Circular No.31
February 16, 2017
To
All Authorised Dealer Category – I Banks
Madam/Sir
Issuance of Rupee denominated bonds overseas – Multilateral and Regional
Financial Institutions as Investors
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to paragraph No. 4 ofA. P. (DIR Series) Circular No. 60 dated April 13, 2016and paragraph No. 3.3.3 ofMaster Direction No.5 dated January 1, 2016on ‘Externa...
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Forward Rate Agreement (FRA) and Interest Rate Swap (IRS) - Withdrawal of Fortnightly return
Posted Date : 19-Feb-2017 , 08:32:06 pm | Posted By: CASANSAAR
RBI/2016-17/232
FMRD.DIRD.13/14.01.019/2016-17
February 16, 2017
To,
All Market Participants
Madam/Sir,
Forward Rate Agreement (FRA) and Interest Rate Swap (IRS) - Withdrawal of Fortnightly return
Attention is invited to theRBI notification ref. no. MPD.BC.187/07.01.279/1999-2000 dated July 07, 1999. As per the notification, banks were advised to submit a fortnightly return on FRA/IRS to Monetary Policy Department with a copy to various RBI departments.
2. In a further step t...
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RBI |
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Repayment of Gold Loan - RBI
Posted Date : 19-Feb-2017 , 08:30:56 pm | Posted By: CASANSAAR
RBI/2016-17/229
DBR.RRB.BC.No. 53/31.01.001/2016-17
February 16, 2017
All Regional Rural Banks
Dear Sir / Madam,
Repayment of Gold Loan
Please refer tocircular RPCD.CO.RRB.BC.No.22/03.05.34/2010-11 dated September 22, 2010wherein Regional Rural Banks (RRBs) were permitted to grant gold loans up to Rs.1.00 lakh with bullet repayment option.
2. On a review, it has been decided to increase the...
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RBI |
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Reimbursement of Merchant Discount Rate - RBI
Posted Date : 19-Feb-2017 , 08:30:06 pm | Posted By: CASANSAAR
RBI/2016-17/228
DGBA.GAD.No.2128/44.02.001/2016-17
February 16, 2017
All Agency Banks
Dear Sir,
Reimbursement of Merchant Discount Rate
The Government of India (GoI) has decided to absorb the Merchant Discount Rate (MDR) charges in respect of debit card transactions while making payments to GoI. The Office Memoranda issued by the Office of Controller General of Accounts datedDecember 14and15, 2016 and Central Board of Direct Taxes datedJanuary 30, 2017in this regard are enclosed....
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Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit
Posted Date : 14-Feb-2017 , 07:50:04 am | Posted By: CASANSAAR
RBI/2016-17/226
DCM (Plg) No.3217/10.27.00/2016-17
February 13, 2017
The Chairman / Managing Director/ Chief Executive Officer
(All banks maintaining currency chests)
Dear Sir / Madam,
Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit
Please refer to Paragraph 2 (ii) of ourcircular DCM (Plg) No. 1459/10.27.00/2016-17 dated November 29, 2016on the captioned subject. As indicated thereat, a review was undertaken and it has been decided that ti...
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RBI |
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Interest rates for Small Savings Schemes - RBI
Posted Date : 09-Feb-2017 , 08:44:02 pm | Posted By: CASANSAAR
RBI/2016-17/225
DGBA.GAD.2012/15.02.005/2016-17
February 9, 2017
The Chairman/Chief Executive Officer
Agency Banks handling Public Provident Fund, Kisan Vikas Patra- 2014,
Sukanya Samriddhi Account, Senior Citizen Savings Scheme-2004
Dear Sir
Interest rates for Small Savings Schemes
Please refer to ourcircular DGBA.GAD.881/15.02.005/2016-17 dated October 13, 2016on the above subject. T...
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RBI |
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Removal of limits on withdrawal of cash from Saving Bank Accounts - RBI
Posted Date : 09-Feb-2017 , 07:57:11 am | Posted By: CASANSAAR
RBI/2016-17/224
DCM (Plg) 3107/10.27.00/2016-17
February 08, 2017
All Banks
Dear Madam / Sir,
Removal of limits on withdrawal of cash from Saving Bank Accounts
Please refer to ourcircular DCM (Plg) 2905/10.27.00/2016-17 dated January 30, 2017on the captioned subject.
2. In the wake of withdrawal of Specified Bank Notes (SBNs) since November 09, 2016 Reserve Bank had placed certain limits on cash withdrawals from Savings / Current / Cash credit /Overdraft accounts and withdrawa...
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