| Notifications/Circulars |
Category : RBI |
|
|
Constitution of Special Investigating Team – sharing of information
Posted Date : 24-Jun-2014 , 08:34:30 am | Posted By: CASANSAAR
RBI/2013–14/652DBOD.AML.No.20470/14.01.001/2013-14
June 23, 2014
The Chairpersons / CEOs of all Scheduled CommercialBanks (Excluding RRBs)/Local Area Banks /All India Financial Institutions
Dear Madam/Sir,
Constitution of Special Investigating Team – sharing of information
In pursuance of the Hon’ble Supreme Court Judgment dated July 4, 2011, Government of India has constituted a Special Investigation Team (SIT) under the Chairmanship of Hon’ble Justice M.B. Shah. In...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 860
|
 |
New features in RTGS System
Posted Date : 24-Jun-2014 , 08:33:33 am | Posted By: CASANSAAR
RBI/2013–14/651DPSS (CO) RTGS No.2589/04.04.017/2013-14
June 20, 2014
The Chairman / Managing Director / ChiefExecutive Officer of participants of RTGS
Madam / Sir,
New features in RTGS System
Please refer to ourcircular DPSS (CO) RTGS No.801/04.04.017/2013-14 dated October 11, 2013regarding the launch of new RTGS system and coming into effect of “RTGS System Regulations 2013”. A reference is also invited to Chapter 9 of the “RTGS System Regulations 2013” where...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1368
|
|
Disclosure of sector-wise advances
Posted Date : 18-Jun-2014 , 09:01:23 pm | Posted By: CASANSAAR
RBI/2013-2014/647DBOD. No.BP.BC.121/21.04.018/2013-14
June 18, 2014
The Chairmen and Managing Directors / Chief Executive Officers ofall Commercial Banks (excluding Regional Rural Banks)
Dear Sir,
Disclosure of sector-wise advances
A reference is invited toparagraph 18of the First Bi-Monthly Monetary Policy Statement 2014-15 announced on April 1, 2014 wherein it was proposed to prescribe certain additional disclosure requirements as per the recommendations of theCommittee on Comprehensive F...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1004
|
|
Exemption from Maintenance of CRR/SLR and Exclusion from ABC for Priority Sector Lending
Posted Date : 11-Jun-2014 , 09:10:56 pm | Posted By: CASANSAAR
RBI/2013-14/639UBD.BPD.(PCB).Cir.No.72/13.01.000//2013-14
June 11, 2014
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Dear Sir/Madam,
Section 42(1) of the Reserve Bank of India Act, 1934 andSection 18 & 24 of the Banking Regulation Act, 1949 (AACS)-FCNR (B)/NRE deposits – Exemption from Maintenance of CRR/SLRand Exclusion from ABC for Priority Sector Lending
Please refer to ourcircular UBD.BPD.(PCB).Cir.No.5/13.01.000//2013-14 dated August 27, 2013, in terms of...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 813
|
|
Introduction of Information System(IS) Audit for Urban Cooperative Banks
Posted Date : 11-Jun-2014 , 09:09:52 pm | Posted By: CASANSAAR
RBI/2013-14/638UBD.BPD.Cir.No. 71/12.09.000/2013-14
June 11, 2014
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Introduction of Information System(IS) Audit for Urban Cooperative Banks
Please refer to our circular UBD No.POT.PCB.30/09.96.00/2001-02 dated February 12, 2002 advising UCBs to introduce EDP audit system on perpetual basis. It is observed that since then some of the UCBs have adopted technology and have been offering electronic banking, tele banking, electronic...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1066
|
|
One Documentary Proof of Address - RBI further simplifies KYC Norms for Bank Accounts
Posted Date : 09-Jun-2014 , 09:29:32 pm | Posted By: CASANSAAR
RBI/2013-14/634DBOD.AML.BC. No. 119/14.01.001/2013-14
June 9, 2014
The Chairperson/CEOs of all Scheduled Commercial Banks (Excluding RRBs)/Local Area Banks / All India Financial Institutions
Dear Sir/ Madam,
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 – Clarification on Proof of Address
Please refer toparagraph 2.4(h), (i), (j) (l), (m) andAnne...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1252
|
|
Annual Turnover Target on behalf of Mid-segment and Retail investors for Primary Dealers (PDs)
Posted Date : 06-Jun-2014 , 08:47:00 am | Posted By: CASANSAAR
RBI/2013-14/630IDMD.PDRD.No. 3404/03.64.000/2013-14
June 5, 2014
All Market participants
Dear Sir/Madam,
Annual Turnover Target on behalf of Mid-segment and Retail investors for Primary Dealers (PDs)
Attention of PDs is invited to ourcircular IDMD.PCD.9/14.03.05/2011-12 dated August 30, 2011andpara 1.3.7of Master Circular on Operational Guidelines to PDs dated July 01, 2013 on the captioned subject.
2. It has been decided to enhance the minimum annual target for mid-segment and retail inve...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 823
|
|
Special Term Repo Auction
Posted Date : 05-Jun-2014 , 09:14:17 am | Posted By: CASANSAAR
RBI/2013-14/627FMD.MOAG. No. 103/01.01.009/2013-14
June 4, 2014
All Scheduled Commercial Banks (excluding RRBs)
Madam / Sir,
Special Term Repo Auction
As announced yesterday in theSecond Bi-Monthly Monetary Policy Statement for 2014-15, it has been decided to introduce special term repo auctions of 28-day tenor for a notified amount up to 0.25 per cent of net demand and time liabilities (NDTL) of the banking system. The 28-day special term repo auction will usually be conducted on non-repor...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 923
|
|
Section 24 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR)
Posted Date : 04-Jun-2014 , 07:43:21 am | Posted By: CASANSAAR
RBI/2013-14/622DBOD.Ret.BC.117/12.02.001/2013-14
June 03, 2014
All Scheduled Commercial Banksand Local Area Banks(Excluding Regional Rural Banks)
Dear Sir,
Section 24 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR)
Please refer to ourcirculars DBOD.Ret.BC.33/12.02.001/2012-13 dated July 31, 2012andDBOD.Ret.BC.48/12.02.001/2012-13 dated September 28, 2012on the captioned subject.
2. As announced in theSecond Bi-Monthly Monetary Policy Statement 2014-15by...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1015
|
|
Capital and Provisioning Requirements for Exposures to entities with Unhedged Foreign Currency Exposure-Clarifications
Posted Date : 04-Jun-2014 , 07:42:33 am | Posted By: CASANSAAR
RBI/2013-14/620DBOD.No.BP.BC.116/21.06.200/2013-14
June 3, 2014
The Chairman and Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks(Excluding RRBs and LABs)
Dear Sir,
Capital and Provisioning Requirements for Exposures to entities with Unhedged Foreign Currency Exposure-Clarifications
Please refer to ourcircular DBOD.No. BP.BC. 85/21.06.200/2013-14 dated January 15, 2014detailing guidelines on capital and provisioning requirements for exposures to entities with Unhedged...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1034
|
|
Deferred Tax Liability on Special Reserve created under Section 36(1) (viii) of the Income Tax Act, 1961-UCBs
Posted Date : 30-May-2014 , 08:06:22 pm | Posted By: CASANSAAR
RBI/2013-14/619UBD. CO. BPD. PCB. Cir. No. 67/09.50.001/2013-14
May 30, 2014
The Chief Executive Officers ofAll Primary (Urban) Co-operative Banks
Madam/ Dear Sir,
Deferred Tax Liability on Special Reserve created underSection 36(1) (viii) of the Income Tax Act, 1961-UCBs
It has been observed that some banks are not creating deferred tax liability (DTL) on Special Reserve as per Accounting Standard 22:'Accounting for taxes on Income' (AS 22) on the ground that they do not intend t...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 989
|
|
Formation of new State of Telangana – Assignment of SLBC Convenorship
Posted Date : 28-May-2014 , 08:11:06 pm | Posted By: CASANSAAR
RBI/2013-14/617RPCD.CO.LBS.No.13027/02.01.001/2013-14
May 28, 2014
The Chairman & Managing DirectorAll SLBC Convenor banks
Dear Sir/Madam,
Formation of new State of Telangana – Assignment of SLBC Convenorship
As per The Gazette of India Notification No. 6 of 2014 dated March 1, 2014, the 29thState of the country viz. Telangana has been formed and the appointed day has been fixed as June 2, 2014.
2. It has been decided to assign the SLBC convenorship of Telangana State to State Ba...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 936
|
|
Lending to Public Sector Undertakings
Posted Date : 28-May-2014 , 08:09:39 pm | Posted By: CASANSAAR
RBI/2013-14/615UBD.CO.BPD.(PCB) Cir No. 66/13.05.000/2013-14
May 28, 2014
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Lending to Public Sector Undertakings
It has been observed that a few Urban Cooperative Banks (UCBs) have been sanctioning high value loans to Public Sector Undertakings (PSUs) by admitting them as nominal members or otherwise.
2. As you are aware, UCBs are meant primarily to meet the credit needs of the society by providing loans an...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 855
|
|
Rounding off transactions to the Nearest Rupee by NBFCs
Posted Date : 27-May-2014 , 05:43:07 pm | Posted By: CASANSAAR
RBI/2013-14/609DNBS.CC.PD.No.377/03.10.01/2013-14
May 27, 2014
To
All Non-Banking Financial Companies
Dear Sir,
Rounding off transactions to the Nearest Rupee by NBFCs
It has come to the notice of the Reserve Bank that some non-banking financial companies (NBFCs) are carrying out transactions, including payment of interest on deposits/ charging interest of advances etc., without rounding off to the nearest rupee. In order to obviate unnecessary discomfort to the public and also to align wi...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 987
|
|
Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of NBFCs
Posted Date : 26-May-2014 , 10:16:43 pm | Posted By: CASANSAAR
RBI/2013-14/606DNBS (PD) CC.No.376/03.10.001/2013-14
May 26, 2014
All NBFCs (excluding Primary Dealers)
Dear Sirs,
Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of NBFCs
Under Section 45 IA (4)(c) of the RBI Act, 1934, a certificate of Registration can only be given to a company if the Bank is satisfied, inter alia, that the general character of the management or the proposed management of the non-banking financial company shall not be prejudic...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 955
|
|
Need for Bank Branches / ATMs to be made accessible to persons with disabilities
Posted Date : 22-May-2014 , 07:43:01 am | Posted By: CASANSAAR
RBI/2013-14/598DBOD.No.Leg.BC.113/09.07.005/2013-14
May 21, 2014
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir/Madam,
Need for Bank Branches / ATMs to be madeaccessible to persons with disabilities
Please refer to ourcircular DBOD.No.Leg.BC.123 /09.07.005/2008-09 dated April 13, 2009on the captioned subject, wherein banks were advised to provide, inter alia, ramps in all existing and future ATMs, and make at least one third of new ATMs installed as talking ATMs with Braille keypad...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 927
|
|
Undertaking of activity by the Urban Cooperative Banks (UCBs) as PAN Service Agent (PSA) for providing PAN issuance services to its customers by entering into tie-up with authorized Agencies
Posted Date : 17-May-2014 , 07:55:14 am | Posted By: CASANSAAR
RBI/2013-14/593UBD.CO.BPD.(PCB) Cir No. 63/13.05.000/2013-14
May 16, 2014
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Undertaking of activity by the Urban Cooperative Banks (UCBs) as PAN Service Agent (PSA) for providing PAN issuance services to its customers by entering into tie-up with authorized Agencies
Please refer tocircular UBD.CO.BPD.(PCB).Cir.No.38/13.05.000/2013-14 dated November 14, 2013wherein Financially Sound and Well Managed UCBs as de...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 937
|
|
Levy of Penal Charges on Non-Maintenance of Minimum Balances in Inoperative Accounts
Posted Date : 15-May-2014 , 10:09:39 pm | Posted By: CASANSAAR
RBI/2013-14/592UBD.BPD.Cir.No.62/13.03.000/2013-14
May 15, 2014
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Dear Sir / Madam
Levy of Penal Charges on Non-Maintenance ofMinimum Balances in Inoperative Accounts
Please refer toPart B of the First Bi-monthly Monetary Policy Statement 2014-15 announced on April 1, 2014, proposing certain measures towards consumer protection such as non-levy of penal charges for non-maintenance of minimum balance in the inoperative accounts....
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1055
|
|
Treatment of RIDF and certain other funds under priority sector
Posted Date : 15-May-2014 , 10:08:55 pm | Posted By: CASANSAAR
RBI/2013-14/591RPCD.CO.Plan. BC 101/04.09.01/ 2013-14
May 15, 2014
The Chairman/ Managing Director/Chief Executive Officer[All scheduled commercial banks(excluding Regional Rural Banks)]
Madam/Dear Sir,
Treatment of RIDF and certain other funds under priority sector
It has been decided to include the outstanding deposits placed by scheduled commercial banks under Rural Infrastructure Development Fund (RIDF) and certain other funds established with NABARD, on account of their shortfall in le...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 839
|
|
Issuance and Operation of Pre-paid Payment Instruments in India - Consolidated Revised Policy Guidelines
Posted Date : 14-May-2014 , 08:02:15 am | Posted By: CASANSAAR
RBI/2013-14/590DPSS.CO.PD.No. 2366/02.14.006/2013-14
May 13, 2014
All Prepaid Payment Instrument Issuers, System Providers, System Participantsand all other Prospective Prepaid Payment Instrument Issuers
Madam / Dear Sir
Issuance and Operation of Pre-paid Payment Instruments in India – ConsolidatedRevised Policy Guidelines
A reference is invited to our guidelinesDPSS.CO.PD.No. 2074/02.14.006/2013-14 dated March 28, 2014on the captioned subject.
2. On a review, it has been decided tha...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 938
|
|
Customer Service in Regional Rural Banks
Posted Date : 12-May-2014 , 10:11:01 pm | Posted By: CASANSAAR
RBI/2013-14/589RPCD.CO.RRB.BC.No. 100/03.05.33/2013-14
May 12, 2014
The ChairmenAll Regional Rural Banks
Dear Sir,
Customer Service in Regional Rural Banks
Customer service has great significance in the banking industry. The banking system in India today has perhaps the largest outreach for delivery of financial services and is also serving as an important conduit for delivery of financial services. While the coverage has been expanding day by day, the quality and content of dispensation of...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 922
|
|
Operations of foreign branches and subsidiaries of the Indian banks - Compliance with statutory/regulatory/administrative prohibitions/restrictions
Posted Date : 12-May-2014 , 10:10:19 pm | Posted By: CASANSAAR
RBI/2013-14/588DBOD.No.BP.BC.111/21.04.157/2013-14
May 12, 2014
All Scheduled Commercial Banks(Excluding RRBs and LABs) &All India Term-Lending & Refinancing Institutions
Madam / Sir,
Operations of foreign branches and subsidiaries of the Indian banks –Compliance with statutory/regulatory/administrative prohibitions/restrictions
Please refer to theCircular DBOD.No.BP.BC.89 /21.04.141/2008-09 dated December 1, 2008on the captioned subject. In terms of paragraph 5 of the circula...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 952
|
|
Advance against Pledge of Gold/ Silver Ornaments
Posted Date : 12-May-2014 , 10:09:38 pm | Posted By: CASANSAAR
RBI/2013-14/587UBD.CO.BPD.PCB.Cir.No.60/13.05.001/2013-14
May 9, 2014
The Chief Executive Officers ofAll Primary (Urban) Co-operative Banks
Dear Sir / Madam,
Advance against Pledge of Gold/ Silver Ornaments
Please refer tocircular UBD.PCB.Cir.No.24/13.05.001/ 08-09 dated November 10, 2008, wherein Urban Cooperative Banks (UCBs) were advised to observe safeguards in order to mitigate the inherent risks attached to sanction of loans and advances against Gold / Silver ornaments.
2. As a prude...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1020
|
|
Levy of foreclosure charges/pre-payment penalty on Floating Rate Term Loans
Posted Date : 08-May-2014 , 08:03:48 am | Posted By: CASANSAAR
RBI/2013-14/582DBOD. Dir.BC.No.110/13.03.00/2013-14
May 7, 2014
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir/Madam
Levy of foreclosure charges/pre-payment penalty on Floating Rate Term Loans
Please refer to ourcircular DBOD. No. Dir.BC.107/13.03.00/2011-12 dated June 5, 2012on ‘Home Loans- Levy of Fore-closure Charges/ Pre-payment Penalty’.
2. A reference is invited toPart B of the First Bi-monthly Monetary Policy Statement 2014-15 announced on April 1, 2014proposing...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 952
|
|
Opening of Bank Accounts in the Names of Minors
Posted Date : 06-May-2014 , 07:27:44 pm | Posted By: CASANSAAR
RBI/2013-14/581DBOD.No.Leg.BC.108/09.07.005/2013-14
May 6, 2014
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir/Madam,
Opening of Bank Accounts in the Names of Minors
Please refer to our circular DBOD.No.Leg.BC.158/C.90(H)-76 dated December 29, 1976 wherein banks were advised to allow minors’ accounts (fixed and savings deposit accounts) with mothers as guardians to be opened subject to safeguards in allowing operations in such accounts by ensuring that the minors’ accou...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1174
|
|
Levy of penal charges on non-maintenance of minimum balances in inoperative Accounts
Posted Date : 06-May-2014 , 07:26:42 pm | Posted By: CASANSAAR
RBI/2013-14/580DBOD. Dir.BC.No. 109 /13.03.00/2013-14
May 6, 2014
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir/Madam
Levy of penal charges on non-maintenance of minimum balances in inoperative Accounts
Please refer toPart B of the First Bi-monthly Monetary Policy Statement 2014-15 announced on April 1, 2014, proposing certain measures towards consumer protection such as non-levy of penal charges for non-maintenance of minimum balance in any inoperative accounts.
2. In this conne...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1161
|
|
Interest Tax Act 1974 - Collection from borrowers
Posted Date : 05-May-2014 , 07:47:06 pm | Posted By: CASANSAAR
RBI/2013-14/579UBD.BPD (PCB) Cir No.56/13.04.00/2013-14
May 5, 2014
The Chief Executive Officers ofAll Primary (Urban) Co-operative Banks
Dear Sir,
Interest Tax Act 1974 – Collection from borrowers
Please refer to ourcircular UBD.BPD (PCB) Cir No.18/13.04.00/2008-09 dated September 22, 2008on the captioned subject.
2. It is observed from the Supreme Court Order dated February 21, 2014 in Writ Petition (Civil) No.301 of 2005 that credit institutions which were in existence between Oct...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 966
|
|
Usage of Transaction Type Code (TTC) in RTGS
Posted Date : 29-Apr-2014 , 09:43:38 pm | Posted By: CASANSAAR
RBI / 2013 – 14/575DPSS (CO) RTGS No.2232/04.04.002/2013 - 2014
April 28, 2014
The Chairman / Managing Director / ChiefExecutive Officer of participants of RTGS
Madam / Dear Sir,
Usage of Transaction Type Code (TTC) in RTGS
We invite a reference to the RTGS System Regulations 2013, detailing the guidelines for RTGS transactions.
2. In terms of para 6.4 of RTGS System Regulations 2013, different Transaction Type Code (TTC) Values are prescribed for different types of RTGS tran...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1008
|
|
Uniform Accounting Standards at ARCs
Posted Date : 23-Apr-2014 , 09:14:26 pm | Posted By: CASANSAAR
RBI/2013-14/571DNBS (PD) CC. No. 38/SCRC/26.03.001/2013-14
April 23, 2014
The Chairman/Managing Director/Chief Executive OfficerAll registered Securitisation Companies/Reconstruction Companies
Dear Sir,
Uniform Accounting Standards at ARCs
Please refer to ';The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003'; dated April 23, 2003 (herein after called Guidelines).
2. Pursuant to the recommendations of the Key Advisory Group (KAG) constit...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 954
|
|
Scaling up of the Business Correspondent (BC) Model - Issues in Cash Management
Posted Date : 22-Apr-2014 , 09:32:53 pm | Posted By: CASANSAAR
RBI/2013-14/570RPCD.FID.BC.No. 96/12.01.011/ 20013-14
April 22, 2014
The Chairman/ Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks
Dear Sir/Madam,
Scaling up of the Business Correspondent (BC) Model –Issues in Cash Management
Please refer toPara 26 (Part B)of Governor's bi-monthly policy statement dated April 1, 2014 on the above subject.
2. In this connection, we advise that, after opening of large number of banking outlets in the last three years in hitherto...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 950
|
|
|
|
|
