RBI/2014-15/254DBOD.No.BP.BC.42/21.04.141/2014-15 October 7, 2014 All Scheduled Commercial Banks(excluding RRBs) Dear Sir, Fourth Bi-monthly Monetary Policy Statement, 2014-15 –SLR Holdings under Held to Maturity Category Please refer to paragraph 25 of the Fourth Bi-monthly Monetary Policy Statement, 2014-15 (extract enclosed) announced on September 30, 2014. 2. In terms of ourcircular No.DBOD.No.BP.BC.30/21.04.141/2014-15 dated August 5, 2014on ‘Monetary Policy Statement 2014...

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RBI/2014-15/251IDMD.PCD.06/14.03.07/2014-15 September 30, 2014 All market participants Dear Sir/Madam Secondary market transactions in Government Securities - Short Selling This has reference tocircular IDMD.No.03/11.01.01(B)/2005-06 dated February 28, 2006and updated videcirculars IDMD.No/11.01.01(B)/2006-07 dated January 31, 2007,IDMD.DOD.No. 3165/ 11.01.01(B) / 2007-08 dated January 1, 2008,IDMD.PCD.14/14.03.07/2011-12 dated December 28, 2011andIDMD.PCD.21/14.03.07/2011-12 dated June 21,...

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RBI/2014-15/250A.P. (DIR Series) Circular No. 34 Sep 30, 2014 To All Category – I Authorised Dealer Banks Madam / Sir, Risk Management and Inter Bank Dealings: Hedging under Past Performance Route 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 May 3, 2000) as amended from time to time andA.P. (DIR Series) c...

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RBI/2014-15/249REF.No.MPD.BC. 374 /07.01.279/2014-15 Ashwina 8,1936(Saka)September 30, 2014 To All Scheduled Banks [excluding Regional Rural Banks(RRBs) ] Dear Sir/Madam, Export Credit Refinance Facilities Please refer to ourcircular No.MPD.372/07.01.279/2013-14 dated June 3, 2014whereby the eligible limit of export credit refinance (ECR) facility for schedule banks (excluding RRBs) was reduced from the level of 50 per cent of the outstanding rupee export credit eligible for refinance as a...

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RBI/2014-15/248RPCD.RCB.BC.No.33/07.51.012/2014-15 September 30, 2014 All State / Central Cooperative Banks (StCBs/CCBs) Madam / Dear Sir, Instruments for Augmentation of Capital Funds - Modification Please refer to ourcircular RPCD.RCB.BC.73/07.51.012/2013-14 dated January 7, 2014. 2. It has been decided to modify para 1 of the Annex-I to the said circular as under: ';StCBs/CCBs may issue Long Term (Subordinated) Deposits (LTDs) subject to compliance with their bye-laws / provisions of t...

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RBI/2014-15/243DNBS (PD).CC.No.410/03.10.001/2014-15 September 25, 2014 All Deposit Taking Non-Banking Financial Companies(except Residuary Non-Banking Companies) Dear Sirs, Rating of Fixed Deposits of NBFCs- Eligible Credit Rating Agencies- SME Rating Agency of India Ltd. (SMERA) Please refer to Para 4 of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998, wherein, names of the Credit Rating Agencies approved by Reserve Bank of India are given...

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RBI/2014-15/237DGBA.GAD.No.H -1204/42.01.035/2014 -15 September 18, 2014 The Chairman & Managing Director /The Chief Executive OfficerAll Agency Banks Dear Sir / Madam, Implementation of Cheque Truncation System (CTS): Dispensation of the requirement of forwarding of government cheques in physical form to Government - Change in the Memorandum of Instructions for reporting of government transactions As part of enhancing the efficiency in cheque clearing, Reserve Bank has introduced CTS f...

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RBI/2014-15/233UBD. BPD (PCB).Cir.No.16/14.01.062/2014-15 September 16, 2014 The Chief Executive OfficerAll Primary (Urban) Co-operative Banks Madam/Dear Sir, Know Your Customer (KYC) Norms – Creating Public Awareness The Reserve Bank of India, in the recent times, has been taking several measures to simplify KYC requirements to help the common man open bank accounts. It is, however, observed that despite such measures the general public is still facing problems in opening a bank acco...

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RBI/2014-15/226RPCD.RRB.RCB.BC.No.32/03.05.33/2014-15 September 10, 2014 All Regional Rural Banks / State and Central Co-operative Banks Dear Sir/Madam, Treatment of accounts opened for credit of ScholarshipAmounts under Government Schemes Please refer to ourcirculars RPCD.CO.RRB.BC.No.41/03.05.33/2013-14 dated October 4, 2013andRPCD.RCB.BC.No.42/07.51.014/2013-14 dated October 7, 2013advising Regional Rural Banks and State / Central Cooperative Banks to allot a different “product cod...

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RBI/2014-15/223RPCD.RRB.RCB.AML.BC.No.31/07.51.018/2014-15 September 9, 2014 Regional Rural Banks (RRBs) /State / Central Cooperative Banks (StCBs/CCBs) Madam / Dear Sir, Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT) / Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 – Client Due Diligence measures Please refer toparagraph 2of our Master Circular RPCD.RRB.RCB.AML.BC.No.02/ 07.51.018/2014-15 d...

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RBI/2014-15/221DBOD.No.CID. 41/20.16.003/2014-15 September 9, 2014 All Scheduled Commercial Banks (excluding RRBs and LABs) andAll India Notified Financial Institutions (FIs) Dear Sir/ Madam Guidelines on Wilful Defaulters –Clarification regarding Guarantor, Lender and Unit Please refer to theMaster Circular on Wilful Defaulters DBOD.No.CID.BC.3/20.16.003/2014-15 dated July 1, 2014. 2. Paragraph 2.1 of the circular lists out various events when a “wilful default” would be...

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RBI/2014-15/217DBOD. APPT.BC.No. 40 /29.39.001/2014-15 September 9, 2014 To The Managing Director & Chief Executive Officers of all Private Sector Banks Dear Sir / Madam, Upper age limit for Whole Time Directors on the Boards of Banks The matter relating to fixing an upper age limit for the post of Managing Director & Chief Executive Officers (MD & CEO) and other Whole Time Directors (WTDs) of banks in private sector in India has been examined in the light of the provisions of ...

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RBI/2014-15/213DBS.No.OSMOS.2915/33.01.001/2014-15 September 5, 2014 The Chairman / Chairman & Managing Director/Managing Director / Chief Executive Officerof Public Sector Banks, Private Sector Banks /Foreign Banks (excluding RRBs) Dear Sir/Madam Basel III Liquidity Returns Please refer to the ‘Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards’ dated June 9, 2014 (Circular ...

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RBI/2014-15/211RPCD.CO.RRB.RCB.BC.No. 27/03.05.33/2014-15 September 4, 2014 Regional Rural Banks / State and Central Co-operative Banks Dear Sir / Madam, Grant of ‘Certificate of Registration’ –CRIF High Mark Credit Information Services Private Limited Please refer to ourcirculars RPCD.CO.RRB.BC.No.36/03.05.33/2010-11 dated December 8, 2010andRPCD.CO.RCB.BC.No.33/07.40.06/2010-11 dated December 7, 2010regarding grant of ‘Certificate of Registration’ to High Mar...

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RBI/2014-15/209DBOD. AML. No. 3356/14.01.001/2014-15 September 4, 2014 The Chairperson / Chief Executive OfficersAll Scheduled Commercial Banks (Excluding RRBs)/ Local Area Banks /All India Financial Institutions Dear Madam/Sir, Simplification of KYC Norms - Creating Public Awareness The Reserve Bank of India, in the recent times, has been taking several measures to simplify KYC requirements to help the common man open bank accounts. It is, however, observed that despite such measures the g...

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RBI /2014-15/200DBOD.No. Leg. BC. 36/09.07.005/2014-15 September 1, 2014 All Scheduled Commercial Banks(excluding RRBs) Dear Sir/Madam, Inoperative Accounts Please refer to paragraph 2(iv) of ourCircular DBOD.No.Leg.BC.34/09.07.005/2008-09 dated August 22, 2008on Unclaimed Deposits/Inoperative Accounts in Banks in terms of which a savings as well as current account should be treated as inoperative/dormant if there are no transactions in the account for over a period of two years. Further, i...

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RBI/2014-15/199DBOD.No.BP.BC. 35/21.04.048/2014-15 September 1, 2014 The Chairman and Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks(Excluding Local Area Banks and Regional Rural Banks) Dear Sir/Madam, Timelines for Credit Decisions Please refer to our circulars IECD.No.24/08.13.08/96-97 dated April 15, 1997 and IECD.No.12/08.13.08/96-97 dated October 29, 1996 in terms of which instructions relating to formation of consortium by banks beyond a threshold limit were w...

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RBI/2014-15/201DBOD.No.BP.BC.38/21.06.201/2014-15 September 1, 2014 The Chairman and Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks(Excluding Regional Rural Banks and Local Area Banks) Madam / Sir, Implementation of Basel III Capital Regulations in India – Amendments Please refer to the ‘Guidelines on Implementation of Basel III Capital Regulations in India’ issued videcircular DBOD.No.BP.BC.98/21.06.201/2011-12 dated May 2, 2012. These guidelines ...

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RBI/2014-15/202DBOD.No.Leg.BC.37/09.07.005/2014-15 September 1, 2014 All scheduled Commercial Banks(Excluding RRBs) Dear Sir/ Madam Treatment of accounts opened for credit of ScholarshipAmounts under Government Schemes Please refer to ourCircular DBOD. No. Leg. BC.53/09.07.005/2013-14 dated September 17, 2013advising banks to allot a different “product code” in their CBS to accounts opened by banks for beneficiaries under the various Central / State Government Schemes in...

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RBI/ 2014-15/191DBOD.AML.No.2868/14.06.001/2014-15 August 22, 2014 The Chairpersons / CEOs of all Scheduled Commercial Banks (Excluding RRBs)/Local Area Banks / All India Financial Institutions Madam/Dear Sir, Implementation of Section 51-A of UAPA, 1967 –Updates of the UNSCR 1988(2011) Taliban Sanctions List Please refer to ourcircular DBOD.AML.No.2472/14.06.001/2014-15 dated August 14, 2014on the captioned subject. We have since received from Government of India, Ministry of Externa...

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RBI/2014-15/186DNBS (PD).CC.No. 408 /03.10.001/2014-15 August 21, 2014 All NBFCs with asset size of`.100 cr and above(excluding Primary Dealers) Dear Sirs, NBFCs- Lending against Shares At present, lending against shares carried out by NBFCs is not subject to specific instructions apart from the general prudential regulation applicable to all NBFCs. Lending against shares could be in the normal course where shares are accepted as collateral or as part of their capital market operations. NBF...

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RBI/2014-15/184DNBS (PD).CC. No 407/03.10.01/2014-15 August 20, 2014 All Non Banking Financial Companies Dear Sirs, Data Format for Furnishing of Credit Information to Credit Information Companies (CICs) and other Regulatory Measures A committee to Recommend Data Format for Furnishing of Credit Information to Credit Information Companies (Chairman: Shri Aditya Puri) was constituted by the Reserve Bank of India (RBI). The Report of the Committee was placed on RBI’s website on...

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RBI/2014-15/180DBOD.No.BP.BC.32/21.04.012/2014-15 August 14, 2014 The Chairmen & Managing Directors/Chief Executive Officers ofAll Scheduled Commercial Banks(excluding Regional Rural Banks) Dear Sir/ Madam, Relaxation to Trade and Industry in the State of Jammu & Kashmir Please refer to ourcircular DBOD.No.BP.BC.50/21.04.012/2012-13 dated October 23, 2012extending the period of concessions/ credit relaxations to borrowers / customers in Jammu & Kashmir up to 31 March 2014. It ha...

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RBI/2014-15/179DPSS.CO.PD.No. 316/02.10.002/2014-2015 August 14, 2014 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 Madam / Dear Sir Usage of ATMs – Rationalisation of number of free transactions The number of Automated Teller Machines (ATMs), which stood at a little over 27,000 as at end-March 2007, has increased to over 1.6 lakh acros...

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RBI/2014-15/178DPSS.CO.AD.No.283/02.27.005/2014-15 August 14, 2014 To All Payment System Providers, System Participantsand prospective Prepaid Payment Instrument Issuers Madam/Dear Sir, Inter-Government Agreement (IGA) with United States of America (US) under Foreign Accounts Tax Compliance Act (FATCA) - Registration Government of India (GoI) has advised that India and US have reached an agreement in substance on the terms of an Inter-Governmental Agreement (IGA) to implement FATCA...

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RBI/2014-15/177RPCD.CO.GSSD.BC.No. 26/09.16.03/2014-15 August 14 , 2014 The Chairman / Managing DirectorAll Scheduled Commercial Banks (Including RRBs)and SLBC Convenor Banks Dear Sir, Restructuring of Swarna Jayanti Shahari Rozgar Yojana (SJSRY) as National Urban Livelihoods Mission Please refer to ourMaster Circular RPCD. CO. GSSD. BC. No 01/09.16.01/2013-14 dated July 01, 2013on the Swarna Jayanti Shahari Rozgar Yojana. 2. The Government of India, Ministry of Housing and Urban Poverty A...

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RBI/2014-15/174DNBS.CC.PD.No. 405/03.10.01/2014-15 August 12, 2014 To All Non-Deposit Accepting Non-Banking Financial Companieswith asset size of`.100 crore and above Dear Sirs, Appointment of Non-Deposit Accepting NBFCs with asset size of`.100 crore and aboveas sub- agents under Money Transfer Service Schemes (MTSS) In order to broaden the network of sub-agents under the Money Transfer Service Schemes (MTSS), it has been decided to permit Non-Deposit Accepting NBFCs with asset size of`.10...

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RBI/2014-15/173DNBS.CC.PD.No.406/03.10.01/2014-15 August 12, 2014 To All Non-Deposit Accepting Non-Banking Financial Companieswith asset size of`.1000 crore and above Dear Sirs, Interest Rate Futures - NBFCs Please refer toCircular DNBS.PD.CC.No.161/3.10.01/ 2009-10 dated September 18, 2009permitting NBFCs to participate in the designated interest rate futures exchanges recognized by SEBI, as clients, subject to RBI / SEBI guidelines in the matter, for the purpose of hedging their underlyi...

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RBI/2014-15/170DNBS (PD) CC. No.20/MGC/03.011.001/2014-15 August 08, 2014 All registered Mortgage Guarantee Companies Dear Sir, Modification of Guidelines on Mortgage Guarantee Companies (MGCs) Please refer to the “Guidelines on Registration and Operations of Mortgage Guarantee Companies under Section 45L(1)(b) of the Reserve Bank of India Act, 1934” (herein after called Guidelines) issued videnotifications no. DNBS (PD) MGC No. 3,4and5/CGM (PK)-2008dated February 15, 2008. 2. ...

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RBI/2014-2015/169DNBS (PD) CC. No. 42/SCRC/26.03.001/2014-2015 August 07, 2014 The Chairman/Managing Director/Chief Executive OfficerAll registered Securitisation Companies (SCs)/Reconstruction Companies (RCs) Dear Sir, Certain amendments in Regulatory framework for SCs/RCs – Clarifications Please refer to ourcircular DNBS (PD) CC No.41/ SCRC / 26.03.001/ 2014-2015 dated August 5, 2014. 2. We have received a number of queries in the matter from the industry a...

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