RBI/2015-16/294 DGBA.GAD.No. 2278/31.12.010/2015-16 January 21, 2016 The Chairman & Managing Director/ The Chief Executive Officer All Agency Banks Dear Sir/Madam Payment of Agency Commission on pension accounts As you may be aware, agency banks are being compensated at Rs. 65 per transaction for handling pension computation, payment and related services on behalf of Central and State Governments. As per the norms followed by the Government, a pensioner’s account shou...

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RBI/2015-16/293 DCM (NPD) No. 2564/09.40.02/2015-16 January 21, 2016 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 under Linkage Scheme Please refer to ourcircular DCM (NPD) No. 6316 / 09.40.02 / 2006-07 dated March 9, 2007on the captioned subject. It has been decided to allow the currency chest holding banks to enhance the service charges ...

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RBI/2015-16/291 DBR.CID.BC.No.73/20.16.56/2015-16 January 14, 2016 All Scheduled Commercial Banks (including RRBs) All Credit Information Companies Dear Sir/ Madam Credit information reporting in respect of Self Help Group (SHG) members Please refer to the instructions contained in paragraph (v) of the Annex III to ourcircular DBOD.No.CID.BC.127/20.16.056/2013-14 dated 27 June, 2014advising banks to report the member level data relating to the SHGs within six months from the dat...

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RBI2015-16/290 IDMD.CDD.No.1573/14.04.050/2015-16 January 14, 2016 The Chairman& Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Stock Holding Corporation of India Ltd.(SHCIL) Dear Sir/Madam, Sovereign Gold Bonds, 2015-16 Government of India has vide itsNotification F.No. 4(19)-W&M/2014 dated January 14, 2016announced that the Sovereign Gold Bonds, 2016 (“the Bonds”) will be open for subscription from January 18, 2016 to January 22, 2016....

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RBI/2015-16/289 FIDD.CO.LBS.BC. No.17/02.01.001/2015-16 January 14, 2016 The Chairman and Managing Director Scheduled Commercial Banks including RRBs Dear Sir/Madam, Direct Benefit Transfer (DBT) Scheme – Seeding of Aadhaar in Bank Accounts – Clarification Please refer tocircular RPCD.CO.LBS.BC.No.11/02.01.001/2013-14 dated July 9, 2013regarding the use of Aadhaar to facilitate delivery of social welfare benefits by direct credit to the bank accounts of beneficiarie...

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RBI/2015-16/288 DBR.No.BAPD.BC.72/22.01.001/2015-16 January 14, 2016 All Scheduled Commercial Banks (Including RRBs) Dear Sir/Madam, Section 23 of Banking Regulation Act, 1949 - Relaxations in Branch Authorisation Policy - Off Site ATMs Please refer tocircular DBOD. No. BL. BC. 137/22.01.001/2008-09 dated June 12, 2009, on the above subject, permitting Scheduled Commercial Banks to install off-site ATMs at centres/places identified by them without having the need to take permis...

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RBI/2015-16/286 FIDD.FLC.BC.No.18/12.01.018/2015-16 January 14, 2016 To Chairman/MD & CEO Scheduled Commercial Banks (Including RRBs) Dear Sir/Madam, Financial Literacy Centres (FLCs) – Revised Guidelines Please refer to ourcirculars RPCD.FLC.No.12452/12.01.018/2011-12 dated June 6, 2012andRPCD.FLC.No.7641/12.01.018/ 2012-13 dated January 31, 2013issuing operational guidelines for conduct of financial literacy camps by FLCs and rural branches of banks. Subsequent ...

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RBI/2015-16/285 DBR.No.BP.BC.71/21.06.201/2015-16 January 14, 2016 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam / Sir, Master Circular – Basel III Capital Regulations - Clarification Please refer to para 7: Coupon Discretion on Additional Tier 1 Debt Capital Instruments of theCircular DBOD.No.BP.BC.38/21.06.201/2014-15 dated September 1, 2014on ‘Implementation of Basel III Capital Regulations in India – Amendments&...

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RBI/2015-16/283 DBR.No.FID.FIC 5/01.02.00/ 2015-16 January 07, 2016 All-India Term-Lending and Refinancing Institutions (EXIM Bank, NABARD, NHB and SIDBI) Dear Sir/ Madam Master Circular- Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by FIs- Amendment Please refer to Paragraph No.2.5.3.4 (iii) ofMaster Circular DBR.No.FID.FIC.3/01.02.00/2015-16 dated July 01, 2015on Prudential Norms for Classification, Valuation and Operation of Investment ...

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RBI/2015-16/282 DBR.IBD.BC. 8536/23.13.004/2015-16 January 07, 2016 All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir/Madam, Setting up of IFSC Banking Units (IBUs) – Permissible activities Please refer to ourcircular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015setting out RBI directions relating to financial institutions set up in the International Financial Services Centres (IFSC). Based on the feedback and requests received from various...

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RBI/2015-16/281 DBR.Dir.BC.No.70/13.03.00/2015-16 January 07, 2016 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/Madam Non-Fund Based Facility to Non-constituent Borrowers of Bank Please refer to paragraph 2(iii) of ourcircular DBOD.Dir.BC.62/13.07.09/2002-03 dated January 24, 2003on ‘Discounting/Rediscounting of Bills by banks’ advising banks not to extend any non-fund...

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RBI/2015-16/277 FIDD.CO.LBS.BC.No. 82 /02.01.001/2015-16 December 31, 2015 The Chairman and Managing Director SLBC Convenor Banks Dear Sir/Madam, Roadmap for opening brick and mortar branches in villages with population more than 5000 without a bank branch of a scheduled commercial bank You are aware that SLBC Convenor banks were advised videcircular RPCD.CO.LBS.BC. No. 86/02.01.001/2011-12 dated June 19, 2012to prepare a roadmap to provide banking services in all unbanked villa...

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RBI/2015-16/278 DGBA.GAD.No. 2036/42.01.035/2015-16 December 31, 2015 The Chairman and Managing Director/ The Chief Executive Officer All Agency Banks Dear Sir/Madam Discontinuation of the requirement for Paper to Follow (P2F) for Central Government cheques under Cheque Truncation System With a view to enhancing efficiency in cheque clearing, Reserve Bank has introduced Cheque T...

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RBI/2015-16/279 DBR.IBD.BC.No.68/23.37.001/2015-16 December 31, 2015 All Scheduled Commercial Banks (Excluding RRBs and LABs) Madam/Dear Sir, Extension of Credit Facilities to Overseas Step-down Subsidiaries of Indian Corporates Please refer to ourcircular DBOD.IBD.BC.No.96/23.37.001/2006-07 dated May 10, 2007permitting banks in India to extend funded and/or non-funded credit facilities to step-down subsidiaries of the overseas subsidiaries of Indian companies that may not be w...

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RBI/2015-16/275 DCM (Plg) No.G-8/2331/10.27.00/2015-16 December 23, 2015 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks Primary (Urban) Co-operative Banks / RRBs Madam / Dear Sir, Withdrawal of all old series of Banknotes issued prior to 2005 Please refer to ourcircular DCM (Plg) No.G-15/5486/10.27.00/2014-15 dated June 26, 2015and thePress Release dated June 25, 2015on the captioned subject. 2. On a review of the matter, it has bee...

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RBI/2015-16/274 DGBA.GAD. No. 2023/15.01.001/2015-16 December 23, 2015 The Chairman & Managing Director Head Office Government Accounts Department State Bank of India / State Bank of Patiala State Bank of Bikaner & Jaipur /State Bank of Travancore State Bank of Hyderabad / State Bank of Mysore Allahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra/ Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / Indian Bank/ Indian Overseas Bank / Orient...

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RBI/2015-16/273 DBR.No.Dir.BC.67/13.03.00/2015-16 December 17, 2015 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/ Madam Interest Rates on Advances A reference is invited toparagraph 22of the first Bi-monthly Monetary Policy Statement 2015-16 announced on April 7, 2015 which stated that in order to improve the efficiency of monetary policy transmission, the Reserve Bank will encourage banks to move in a time-bound manner to marginal-cost-of-funds-based determination o...

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RBI/2015-16/262 DBR.No.Ret.BC.64/12.01.001/2015-16 December 10, 2015 All Commercial Banks, Primary (Urban) Co-operative Banks (UCBs), State and Central Co-operative Banks (StCBs/CCBs) Dear Sir, Section 24 and Section 56 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR) Please refer tocirculars DBR.Ret.BC.70/12.02.001/2014-15andDCBR.BPD.(PCB/RCB).Cir.No.14/16.26.000/2014-15 dated February 03, 2015, on maintenance of Statutory Liquidity Ratio und...

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RBI/2015-16/261 DBR.No.BP.BC.65/21.04.141/2015-16 December 10, 2015 All Commercial Banks Dear Sir, Fourth Bi-monthly Monetary Policy Statement, 2015-16 – SLR Holdings under Held to Maturity Category In terms of ourcircular DBOD.No.BP.BC.42/21.04.141/2014-15 dated October 7, 2014and also,RPCD.CO.RRB.BC 34/03.05.33/2014-15 dated October 20, 2014on ‘Fourth Bi-monthly Monetary Policy Statement, 2014-15 – SLR Holdings under Held to Maturity Category’, all bank...

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RBI/2015-16/257 FIDD.CO.Plan.BC.No.14/04.09.01/2015-16 December 3, 2015 The Chairman All Regional Rural Banks Dear Sir/Madam, Regional Rural Banks - Priority Sector Lending – Targets and Classification During the last decade, Regional Rural Banks (RRBs) have undergone significant structural and operational changes, be it two-phased amalgamation, implementation of CBS platform or recapitalization, inter alia. Considering the growing significance of RRBs in pursuit of financ...

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RBI/2015-16/255 A.P. (DIR Series) Circular No.32 November 30, 2015 To, All Authorised Dealer Category – I Banks Madam/ Sir External Commercial Borrowings (ECB) Policy – Revised framework Attention of Authorised Dealer Category – I (AD Cat I) banks is invited toA.P. (DIR Series) Circular No. 5 dated August 1, 2005containing the basic framework under which eligible resident entities can raise External Commercial Borrowings (ECB). Subsequent to issuance of this ...

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RBI/2015-16/253 A.P. (DIR Series) Circular No.31 November 26, 2015 To All Authorised Persons Madam/ Sir, Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds Attention of Authorized 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 videNotification No. FEMA.20/2000- RB dated May 3, 2000, as amended from time to time and t...

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RBI/2015-16/252 DBR.IBD.BC. 61/23.07.001/2015-16 November 26, 2015 All Foreign Banks operating in India Dear Sir/Madam, Engagement of Services of Expatriate Officers in Indian Offices of Foreign Banks Please refer to our D.O.No.DBOD.Ref.1318/C.319-70 August 31, 1970 and Circulars DBOD.No.1033/23.07.001/94 dated March 11, 1994 and DBOD.IBS.BC.No.109/ 23.06.001/ 99-2000 October 30, 1999 regarding engagement of expatriate officers by foreign banks in branches in India. 2. We hav...

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RBI/2015-16/251 DBR.AML.BC.No.60/14.01.001/2015-16 November 26, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/ All India Financial Institutions/ all NBFCs/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (SCBs / CCBs) /All Payment System Providers/ System Participants and Prepaid Payment Instrument Issuers/ All authorised persons Dear Sir/ Madam Central KYC Records Registry (CKYCR) - template for Kn...

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RBI/2015-16/250 DNBR.CC.PD.No. 071/03.10.038/2015-16 November 26, 2015 To All NBFC-MFIs Madam/ Sir Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) – DirectionsDNBS.PD.No. 234/CGM (US)-2011 dated December 2, 2011andDNBR.CC.PD.No. 027/03.10.01/2014-15 dated April 08, 2015– Revision of the loan amount with tenure not less than 24 months In the light of the representations received from the ‘sector’ on the captioned subject, it is advis...

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RBI/2015-16/249 A.P. (DIR Series) Circular No.30 November 26, 2015 To, All Authorised Dealer Category – I Banks Madam/ Sir Advance Remittance for Import of aircrafts /helicopters / other aviation related purchases Attention of Authorised Dealers Category - I (AD Category - I) banks is invited to clause 3(f) ofA. P. (DIR Series) Circular No.77 dated June 29, 2007, in terms of which AD Category I banks could allow advance remittance, without bank guarantee or an unconditiona...

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RBI/2015-16/248 A.P. (DIR Series) Circular No. 29 November 26, 2015 To, All Authorised Dealer Category – I Banks Madam/ Sir Import of Goods into India – Evidence of Import Attention of the Authorised Dealers is invited topara A.10.1of A.P. (DIR Series) Circular No. 106 dated June 19, 2003 in terms of which an importer has to submit as evidence of import, (a) the exchange control copy of the Bill of Entry for home consumption; (b) the exchange control copy of the Bill...

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RBI/2015-16/247 DBR.BP.BC.No.55/21.04.172/2015-16 November 26, 2015 All Scheduled Commercial Banks (Excluding RRBs) Madam/Dear Sir, Bank Finance to Factoring Companies Please refer to ourcircular DBOD.BP.BC.No.40/21.04.172/2012-13 dated September 11, 2012on “Bank Finance to Factoring Companies”, in terms of which banks were advised that they can extend financial assistance to support the factoring business of Factoring Companies complying with certain criteria, which...

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RBI/2014-15/246 DNBS (PD).CC.No.03/03.02.02/2015-16 November 26, 2015 All Non Banking Financial Companies Dear Sir, Online Returns to be submitted by NBFCs- Revised Please refer to ourMaster Circular no DNBS.IT.CC.No.01/24.01.191/2015-16 dated July 01, 2015on Returns to be submitted by NBFCs. 2. It has been decided to rationalize the returns’ to be submitted online through COSMOS as below: Change in periodicity of NDSI-500cr and ALM-1 returns from monthly to qua...

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RBI/2015-16/244 Ref. No. IDMD/1130/08.02.032/2015-16 November 23, 2015 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 notified amount of Rs 15,000 crore as per the following details: Sr No Security Notified...

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