RBI releases FAQs on Inflation Indexed National Saving Certificates
Posted Date : 19-Dec-2013 , 05:58:46 pm | Posted By: CASANSAAR
1.Who is eligible to invest in the Inflation Indexed National Saving Securities-Cumulative (IINSS-C)?
♦
Only retail investors would be eligible to invest in these securities. The retail investors would include individuals, Hindu Undivided Family (HUF), charitable institutions registered under section 25 of the Indian Companies Act and Universities incorporated by Central, State or Provincial Act or declared to be a university under section 3 of the University Grants Commission Ac...
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Novation of OTC Derivative Contracts
Posted Date : 09-Dec-2013 , 09:48:37 pm | Posted By: CASANSAAR
RBI/2013-14/406DBOD.No.BP.BC.76/21.04.157/2013-14
December 9, 2013
All Scheduled Commercial Banks(Excluding RRBs and LABs) &All India Term-Lending & Refinancing Institutions
Madam / Sir,
Novation of OTC Derivative Contracts
Please refer to ourcirculars DBOD.No.BP.BC.86/21.04.157/2006-07 dated April 20, 2007on Comprehensive Guidelines on Derivatives andDBOD.No.BP.BC.44 /21.04.157/2011-12 dated November 2, 2011on Comprehensive Guidelines on Derivatives: Modifications permitting novati...
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Charges Levied by Banks for Sending SMS Alerts
Posted Date : 06-Dec-2013 , 08:18:58 pm | Posted By: CASANSAAR
RBI/2013-14/403UBD.CO.BPD.(PCB).Cir.No.42/12.05.001/2013-14
December 6, 2013
To,The Chief Executive OfficerAll (Primary) Urban Co-operative Banks
Dear Sir / Madam,
Charges Levied by Banks for Sending SMS Alerts
Please refer to paragraph 37 of the Second Quarter Review of Monetary Policy Statement 2013-14 announced on October 29, 2013 (extract enclosed) on 'Customer Service- Charges Levied by Banks for Sending SMS Alerts'.
2.In this connection, a reference is also invited to ourcircular U...
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Exchange-Traded Interest Rate Futures
Posted Date : 05-Dec-2013 , 06:38:53 pm | Posted By: CASANSAAR
RBI/2013-14/402IDMD.PCD. 08/14.03.01/2013-14
December 5, 2013
To
All market participants
Dear Sir/Madam
Exchange-Traded Interest Rate Futures
As announced in theSecond Quarter Review of Monetary Policy 2013-14, it has been decided to introduce cash settled Interest Rate Futures (IRF) on 10-year Government of India security.
2. The Reserve Bank of India has accordingly issued a Notification IDMD.PCD.07 /ED (RG) - 2013 dated December 5, 2013 introducing cash settled IRF on 10-year Governmen...
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Timely Issue of TDS Certificate to Customers
Posted Date : 05-Dec-2013 , 04:44:48 pm | Posted By: CASANSAAR
RBI/2013-14/401UBD.CO.BPD.(PCB).Cir.No. 41/12.05.001/2013-14
December 5, 2013
To,
The Chief Executive OfficerAll Urban Co-operative Banks
Dear Sir / Madam,
Timely Issue of TDS Certificate to Customers
It has been brought to our notice that some banks are not providing TDS Certificate in Form 16A to their customers in time, causing inconvenience to customers in filing income-tax returns in time.
2. With a view to protecting the interests of depositors and for rendering better customer serv...
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Union Budget - 2013-14 Interest Subvention Scheme
Posted Date : 04-Dec-2013 , 05:45:45 pm | Posted By: CASANSAAR
RBI/2013-14/398RPCD.No.FSD.BC.71/05.04.02/2013-14
December 4, 2013
To,The Chairman / Managing DirectorAll Public & Private Sector Scheduled Commercial Banks
Dear Sir
Union Budget - 2013-14Interest Subvention Scheme
As directed by the Government of India and in pursuance of the budget announcement made by the Finance Minister relating to the Interest Subvention Scheme 2013-14, Interest subvention of 2 % p.a. will be made available to Public Sector Banks (PSBs) and Private Sector Schedule...
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Guidelines on Stress Testing
Posted Date : 03-Dec-2013 , 07:34:20 am | Posted By: CASANSAAR
RBI/2013-14/390DBOD.BP.BC.No.75/21.04.103/2013-14
December 2, 2013
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir,
Guidelines on Stress Testing
Please refer to the guidelines on stress testing issued videcircular DBOD.No.BP.BC. 101/21.04.103/2006-07 dated June 26, 2007. Banks were required to operationalise their formal stress testing framework in accordance with these guidelines from March 31, 2008. It was expected that the stress testing framework being set up would help banks in...
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Revised General Credit Card (GCC) Scheme
Posted Date : 03-Dec-2013 , 07:33:37 am | Posted By: CASANSAAR
RBI/2013-14/389RPCD.MSME & NFS.BC.No.61/06.02.31/2013-14
December 2, 2013
The Chairman/Managing Director/ Chief Executive OfficerAll Scheduled Commercial Banks(Including Regional Rural Banks)
Dear Sir / Madam
Revised General Credit Card (GCC) Scheme
Please refer to ourcircular RPCD.CO.No.RRB.BC.59/03.05.33(F)/2005-06 dated December 27, 2005andcircular no. RPCD.CO.Plan.BC.No.66/04.09.01/2007-08 dated May 06, 2008on the General Credit Card (GCC) Scheme.
2. During Financial Inclusion Plan...
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Periodicity of Payment of Interest on Rupee Savings/Term Deposits
Posted Date : 01-Dec-2013 , 07:56:30 pm | Posted By: CASANSAAR
RBI/2013-14/385DBOD.No.Dir.BC. 69/13.03.00/2013-14
November 29, 2013
To
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir / Madam
Periodicity of Payment of Interest on Rupee Savings/Term Deposits
Please refer to paragraph 23 of the Second Quarter Review of Monetary Policy 2013-14 announced on October 29, 2013 (extract enclosed) on periodicity of payment of interest on savings and term deposits.
2. In this connection, a reference is also invited to paragraph 2 (ii) of our circular DB...
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Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
Posted Date : 01-Dec-2013 , 07:55:48 pm | Posted By: CASANSAAR
RBI/2013-14/387DBOD. No. Dir. BC.71/13.03.00/ 2013-14
November 29, 2013
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir/ Madam
Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
Please refer to ourcircular DBOD. Dir. BC. 40/13.03.00/2013-14 dated August 14, 2013allowing banks the freedom to offer interest rates on incremental NRE deposits with maturity of 3 years and above without any ceiling in order to pass on the benefit of exemption provided on such d...
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Periodicity of Payment of Interest on Rupee Savings/Term Deposits
Posted Date : 29-Nov-2013 , 04:57:16 pm | Posted By: CASANSAAR
RBI/2013-14/385DBOD.No.Dir.BC. 69/13.03.00/2013-14
November 29, 2013
To
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir / Madam
Periodicity of Payment of Interest on Rupee Savings/Term Deposits
Please refer to paragraph 23 of the Second Quarter Review of Monetary Policy 2013-14 announced on October 29, 2013 (extract enclosed) on periodicity of payment of interest on savings and term deposits.
2. In this connection, a reference is also invited to paragraph 2 (ii) of our circular DB...
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Participation of NBFCs in Insurance sector
Posted Date : 28-Nov-2013 , 08:07:31 pm | Posted By: CASANSAAR
RBI/2013-14/383DNBS.PD.CC.No.361/03.02.002/2013-14
November 28, 2013
To,
All NBFCs
Dear Sirs,
Participation of NBFCs in Insurance sector
Please refer to the circularDNBS.(PD).CC.No.13/02.01/99-2000 dated June 30, 2000which contains the Guidelines for entry of NBFCs into Insurance Business issued on June 09, 2000, and subsequent modification carried out vide CircularDNBS.(PD).CCX.No.35/10.24/2003-04 dated February 10, 2004andCC No. 221/03.02.002/2010-2011 dated May 27, 2011.As per the extan...
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Imposition of Minimum Capital Adequacy Measure of 9% for RRBs
Posted Date : 27-Nov-2013 , 07:09:50 pm | Posted By: CASANSAAR
RBI/2013-14/382RPCD.CO.RRB.BC.No.60/03.05.33/2013-14
November 26, 2013
The ChairmanAll Regional Rural Banks
Dear Sir/Madam,
Imposition of Minimum Capital Adequacy Measure of 9% for RRBs
The risk weighted assets ratio system as the basis of assessment of Capital Adequacy which takes into account the element of risk in the various types of assets in the Balance Sheet as well as off Balance-sheet exposures was made applicable to banks in India with a view to strengthening their capital base.
...
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Charges Levied by Banks for Sending SMS Alerts
Posted Date : 26-Nov-2013 , 09:26:18 pm | Posted By: CASANSAAR
RBI/2013-14/381DBOD. No. Dir. BC. 67/13.10.00/2013-14
November 26, 2013
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir/ Madam
Charges Levied by Banks for Sending SMS Alerts
Please refer to paragraph 37 of the Second Quarter Review of Monetary Policy Statement 2013-14 announced on October 29, 2013 (extract enclosed) on ‘Customer Service- Charges Levied by Banks for Sending SMS Alerts’.
2. In this connection, a reference is also invited to ourcircular DBOD. No. Dir. BC. ...
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Security and Risk Mitigation Measures for Card Present Transactions
Posted Date : 26-Nov-2013 , 06:02:13 pm | Posted By: CASANSAAR
RBI/2013 -14/380DPSS (CO) PD No.1164/ 02.14.003/2013-14
November 26, 2013
The Chairman and Managing Director / Chief Executive OfficersAll Scheduled Commercial Banks including RRBs / Urban Co-operative Banks /State Co-operative Banks / District Central Co-operative Banks/Authorised Card Payment Networks
Madam / Dear Sir,
Security and Risk Mitigation Measures for Card Present Transactions
A reference is invited to ourcircular dated September 22, 2011 on security issues and risk mitigation me...
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Financing of Infrastructure - Definition of \'Infrastructure Lending\'
Posted Date : 25-Nov-2013 , 07:28:37 pm | Posted By: CASANSAAR
RBI/2013-14/378DBOD.BP.BC.No.66/08.12.014/2013-14
November 25, 2013
All Scheduled Commercial Banks(excluding RRBs) andAll India Term-Lending and Refinancing Institutions(EXIM Bank, NABARD, NHB and SIDBI)
Dear Sir,
Financing of Infrastructure - Definition of 'Infrastructure Lending'
Please refer to ourcircular DBOD.BP.BC.No.58/08.12.014/2012-13 dated November 20, 2012on ‘Definition of Infrastructure Lending’ harmonising the RBI definition of Infrastructure Lending with that of ...
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Report on Trend and Progress of Banking in India – 2012-13
Posted Date : 22-Nov-2013 , 08:30:03 am | Posted By: CASANSAAR
TheReserve Bank of Indiatoday released the statutoryReporton Trend andProgressof Banking in India 2012-13. ThisReportpresents theperformance andsalient policy measures relating to the banking sector during 2012-13. TheReportalso provides an analysis of the co-operative banks and non-banking financial institutions.
The key messages of theReportare set out below:
Perspectives on theIndian BankingSector
The weakening domestic macroeconomic conditions combined with the continuing subdued glob...
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Performance Audit of Agricultural Debt Waiver & Debt Relief Scheme 2008
Posted Date : 20-Nov-2013 , 07:28:13 pm | Posted By: CASANSAAR
RBI/2013-14/376UBD.BPD. (PCB) CIR No.39 /13.05.006/2013-14
November 20, 2013
The Chief Executive Officers ofAll Primary (Urban) Co-operative Banks
Madam/Dear Sir,
Performance Audit of Agricultural Debt Waiver & Debt Relief Scheme 2008
Please refer to ourCircular UBD.BPD. (PCB) Cir. No.40/13.05.006/2012-13 dated March 7, 2013, in terms of which Urban Co-operative Banks (UCBs) were advised to conduct complete verification of list of beneficiaries under ADWDRS, 2008 and take corrective ste...
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UCBs - Undertaking of Activity as PAN Service Agent for providing PAN Issuance Services to its Customers by entering into tie-up with UTI Infrastructure and Technology Services Ltd
Posted Date : 14-Nov-2013 , 07:07:58 pm | Posted By: CASANSAAR
RBI/2013-14/371UBD.CO.BPD.(PCB) Cir No. 38/13.05.000/2013-14
November 14, 2013
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Undertaking of activity by the UCBs as PAN Service Agent (PSA) forproviding PAN issuance services to its customers by entering into tie-upwith UTI Infrastructure and Technology Services Ltd (UTIITSL)
We have been receiving requests from UCBs to allow them to undertake the activity of providing PAN issuance services to its custo...
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Advances guaranteed by Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) – Risk Weights and Provisioning
Posted Date : 14-Nov-2013 , 02:52:33 pm | Posted By: CASANSAAR
RBI/2013-14/370UBD.BPD.PCB.Cir No.37/09.22.010/2013-14
November 14, 2013
The Chief Executive Officer ofAll Primary (Urban) Co-operative Banks
Dear Sir / Madam,
Advances guaranteed by Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) – Risk Weights and Provisioning
The Ministry of Housing & Urban Poverty Alleviation, Government of India has set up the Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) vide their Notification No.O-17034/122/2009-H da...
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Filing of records of equitable mortgages with the Central Registry
Posted Date : 12-Nov-2013 , 06:40:58 pm | Posted By: CASANSAAR
RBI/2013-14/369DNBS.(PD).CC.No.360 /03.10.001/2013-14
November 12, 2013
All NBFCs
Dear Sirs,
Filing of records of equitable mortgageswith the Central Registry
The Central Government in exercise of the powers conferred under Section 21 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, has notified on 31st March, 2011 the establishment of the Central Registry at New Delhi and entrusted the operations and administration of the Centra...
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Issue TDS certificates on time to customers: RBI to banks
Posted Date : 06-Nov-2013 , 08:14:57 pm | Posted By: CASANSAAR
RBI/2013-14/361DBOD.No.Leg.BC.65/09.07.005/2013-14
November 6, 2013
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir/Madam,
Timely Issue of TDS Certificate to Customers
It has been brought to our notice that, some banks are not providing TDS Certificate in Form 16A to their customers in time, causing inconvenience to customers in filing income-tax returns timely.
2. The matter has been examined and with a view to protect interest of the depositors and for rendering better ...
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Migration of Post-dated cheques (PDC)/Equated Monthly Installment (EMI) Cheques to Electronic Clearing Service (Debit)
Posted Date : 06-Nov-2013 , 08:13:55 pm | Posted By: CASANSAAR
RBI/2013-14/359DNBS.PD/ CC.NO.359 /03.10.001/2013-14
November 06, 2013
All NBFCs
Dear Sirs,
Migration of Post-dated cheques (PDC)/Equated Monthly Installment (EMI) Cheques to Electronic Clearing Service (Debit)
A reference is invited to ourCircular No DNBS.PD/ CC.NO.316 /03.10.001/2012-13 December 20, 2012advising all NBFCs to ensure replacement of all Non-CTS-2010 standard compliant cheques received from their customers for future EMI payments by March 31, 2013.
2. Reference is al...
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Formation of seven new districts in the State of Gujarat - Assignment of Lead Bank Responsibility
Posted Date : 06-Nov-2013 , 03:32:42 pm | Posted By: CASANSAAR
RBI/2013-14/358RPCD.CO.LBS.BC.No. 53 /02.08.001/2013-14
November 6, 2013
The Chairmen & Managing DirectorsAll Lead Banks
Dear Sir/Madam,
Formation of seven new districts in the State of Gujarat -Assignment of Lead Bank Responsibility
The Government of Gujarat vide The Gujarat Government Gazette Notification No. GHM/2013/69 to 75 /M/PFR/102013/139/L.I dated August 13, 2013 had notified the formation of seven new districts in the State of Gujarat. It has been decided to assign the...
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Investment portfolio of Urban Co-operative Banks (UCBs) Classification, Valuation and Provisioning
Posted Date : 01-Nov-2013 , 08:32:24 pm | Posted By: CASANSAAR
RBI/2013-14/357UBD.BPD.(PCB)CIR No. 36/16.20.000/2013-14
November 1, 2013
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Madam/Dear Sir,
Investment portfolio of Urban Co-operative Banks (UCBs)Classification, Valuation and Provisioning
Please refer to ourcircular UBD.No.PCB.Cir.16/16.20.00/2004-05 dated September 2, 2004, in terms of which Urban Co-operative Banks (UCBs) were advised that the limit of 25 per cent of total investments under Held to Maturity (HTM) category ...
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Marginal Standing Facility-Revision in timings
Posted Date : 31-Oct-2013 , 07:33:01 pm | Posted By: CASANSAAR
RBI/2013-14/351FMD.MOAG. No. 93/01.18.001/2013-14
October 31, 2013
All Scheduled Commercial Banks (excluding RRBs)
Madam / Sir,
Marginal Standing Facility-Revision in timings
As announced in theSecond Quarter Review of the Monetary Policy 2013-14on October 29, 2013, it has been decided to revise the timings of Marginal Standing Facility (MSF). The MSF will now be available between 7.00 pm and 7.30 pm instead of the existing timings of 4.45 pm to 5.15 pm. The change in timings will take effe...
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Standing Liquidity Facilities for Banks and Primary Dealers
Posted Date : 29-Oct-2013 , 07:08:47 pm | Posted By: CASANSAAR
RBI/2013-14/343MPD. No.BC. 370/07.01.279/2013-14
October 29, 2013
ToAll Scheduled Banks [excluding Regional Rural Banks(RRBs) ]and Primary Dealers
Dear Sir/Madam,
Standing Liquidity Facilities forBanks and Primary Dealers
Please refer to theSecond Quarter Review of Monetary Policy Statement 2013-14 dated October 29, 2013, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 7.50 per cent to 7.75 per cent with immediate effe...
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Due diligence in correspondent banking relationship
Posted Date : 29-Oct-2013 , 07:08:06 pm | Posted By: CASANSAAR
RBI/2013-14/342DBOD.AML.BC.No.63/14.01.001/2013-14
October 29, 2013
The Chairmen / Chief Executive Officers ofAll Scheduled Commercial Banks (excluding Regional Rural Banks)
Dear Sir,
Due diligence in correspondent banking relationship.
Please refer toparagraph 2.16of our Master Circular DBOD. AML.BC.24/14.01.001/2012-13 dated July 1, 2013 on ‘Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) / Obligation of banks under P...
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Marginal Standing Facility Rates
Posted Date : 29-Oct-2013 , 07:07:21 pm | Posted By: CASANSAAR
RBI/2013-14/340FMD.MOAG. No. 91/01.18.001/2013-14
October 29, 2013
All Scheduled Commercial Banks (excluding RRBs)
Madam / Sir,
Marginal Standing Facility Rates
As announced today in theSecond Quarter Review of the Monetary Policy 2013-14, it has been decided to reduce the Marginal Standing Facility (MSF) rate by 25 basis points from 9.00 percent to8.75 per centwith immediate effect.
2. Consequent to this change, Marginal Standing Facility (MSF) rate is recalibrated to 100 basis points abo...
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Liquidity Adjustment Facility – Repo and Reverse Repo Rates
Posted Date : 29-Oct-2013 , 07:06:47 pm | Posted By: CASANSAAR
RBI/2013-14/339FMD.MOAG. No. 90/01.01.001/2013-14
October 29, 2013
All Scheduled Commercial Banks (excluding RRBs) and Standalone Primary Dealers
Madam / Sir,
Liquidity Adjustment Facility – Repo and Reverse Repo Rates
As announced today in theSecond Quarter Review of the Monetary Policy 2013-14, it has been decided to increase the Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 7.50 per cent to7.75 per centwith immediate effect.
2. Consequent to the c...
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