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Bank Finance for Purchase of Gold
Posted Date : 11-Feb-2013 , 03:28:37 pm | Posted By: Vinay Sharma
RBI/2012-13/411UBD.BPD.(PCB) Cir No.36/13.05.001/2012-13
February 6, 2013
The Chief Executive OfficersAll Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Bank Finance for Purchase of Gold
Please refer to our circularUBD.PCB.Cir.No 24/13.05.001/08-09 dated November 10, 2008on ‘Advances against Pledge of Gold / silver ornaments’ advising UCBs to observe certain safeguards while granting loan against pledge of gold/ silver ornaments.
2.In terms of announcements made in para...
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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
Posted Date : 11-Feb-2013 , 11:09:28 am | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/410 RPCD.RRB.RCB.BC.No. 63 /07.51.018/2012-13
January 30, 2013
The Chairmen / CEOs of all Regional Rural Banks / State and Central Co-operative Banks
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
Please refer to our circular RPCD.CO.RRB.RCB.AML.No.6097/07.51.018/ 2012-13 dated December 13, 2012 on simplification of Know...
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Permission to standalone PDs for membership in SEBI approved Stock Exchanges for trading in corporate bonds
Posted Date : 11-Feb-2013 , 11:05:45 am | Posted By: CA. SURESH Kr. AGARWAL
RBI/2012-13/412 IDMD. PCD.No.2310/14.03.05/2012-13
February 06, 2013
All Standalone Primary Dealers (PDs)
Dear Sir/Madam,
Permission to standalone PDs for membership in SEBI approved Stock Exchanges for trading in corporate bonds
With a view to further developing the debt market in India, it has been decided to permit standalone PDs to become members of SEBI approved stock exchanges for the purpose of undertaking proprietary transactions in corporate bonds. While doing so, standal...
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Financial Literacy Material
Posted Date : 01-Feb-2013 , 05:30:18 pm | Posted By: Vinay Sharma
RBI/2012-13/408RPCD.FLC.No.7641/12.01.018/2012-13
January 31, 2013
To Chairman/CMDs of Scheduled Commercial Banks(including RRBs)
Dear Sir
Financial Literacy Material
Please refer to ourcircular RPCD.FLC.No.12452/12.01.018/2011-12 dated June 6, 2012regarding revised guidelines on the Financial Literacy Centres (FLC), in terms of which it was advised that FLCs and all the rural branches of scheduled commercial banks should scale up financial literacy efforts through conduct of outdoor Fina...
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Standing Liquidity Facilities for Banks and Primary Dealers
Posted Date : 30-Jan-2013 , 12:43:21 pm | Posted By: Vinay Sharma
RBI/2012-13/400 REF.No.MPD.BC.361 /07.01.279/2012-13
Magha 9, 1934 (Saka) January 29, 2013
To
All Scheduled Banks [excluding Regional Rural Banks(RRBs) ] and Primary Dealers
Dear Sir/Madam,
Standing Liquidity Facilities for Banks and Primary Dealers
Please refer to the Third Quarter Review of Monetary Policy 2012-13 dated January 29, 2013, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been decreased by 25 basis points from 8.00 per cent to 7.75 p...
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Maintenance of Cash Reserve Ratio (CRR)
Posted Date : 30-Jan-2013 , 12:42:48 pm | Posted By: Vinay Sharma
RBI/2012-13/401 Ref: DBOD.No.Ret. BC.76/12.01.001/2012-13
January 29, 2013
All Scheduled Commercial Banks & Local Area Banks (Excluding Regional Rural Banks)
Dear Sir,
Maintenance of Cash Reserve Ratio (CRR)
Please refer to our Circular DBOD.No.Ret.BC.52/12.01.001/2012-13 dated October 30, 2012 on the captioned subject.
2. As set out in the Reserve Bank's Press Release 2012-2013/1267 dated January 29, 2013, it has been decided to reduce the Cash Reserve Ratio (CRR) of Schedul...
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Liquidity Adjustment Facility
Posted Date : 29-Jan-2013 , 06:27:58 pm | Posted By: Vinay Sharma
RBI/2012-2013/398 FMD.MOAG. No.74/01.01.001/2012-13
January 29, 2013
All Scheduled Commercial Banks (excluding RRBs) and Primary Dealers
Dear Sir,
Liquidity Adjustment Facility – Repo and Reverse Repo and Marginal Standing Facility Rates
As announced today by the Governor in the Third Quarter Review of the Monetary Policy 2012-13, it has been decided to reduce the Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 8.00 per cent to 7.75 per cent with...
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Third Quarter Review of Monetary Policy 2012-13
Posted Date : 29-Jan-2013 , 11:34:01 am | Posted By: Vinay Sharma
By Dr. D. Subbarao Governor
Introduction
Since the Second Quarter Review (SQR) of Monetary Policy in October 2012, headwinds holding back the global economy have begun to abate gradually, although sluggish conditions prevail. In the US, activity gathered momentum in Q3 of 2012 but this is unlikely to have been sustained in Q4. While a political consensus to avert the ‘fiscal cliff’ has calmed financial markets, how the debt ceiling is managed will be crucial in shapi...
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RBI suggests Banks to opt
Posted Date : 25-Jan-2013 , 04:27:51 pm | Posted By: Vinay Sharma
Retail issue of Subordinated Debt for raising Tier II capital
circular DBOD.BP.BC. No.72/21.01.002/2012-13, dated 24-1-2013
Please refer to our circular DBOD.BP.BC.No.69/21.01.002/2009-10, dated January 13, 2010 on the above subject, advising banks to adhere to certain conditions, while issuing subordinated debt to retail investors, for raising Tier II regulatory capital.
2. With a view to deepening the corporate bond market in India through enhanced retail participation, banks, wh...
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nterest Rates on and Premature Withdrawal of Rupee Term Deposits
Posted Date : 25-Jan-2013 , 11:20:18 am | Posted By: Vinay Sharma
RBI/2012-13/393 DBOD.No.Dir.BC. 74/13.03.00/2012-13
January 24, 2013
All Scheduled Commercial Banks (excluding RRBs)
Dear Sir/Madam
Interest Rates on and Premature Withdrawal of Rupee Term Deposits
In terms of our mailbox clarification dated May 16, 2007, deposits of `15 lakh or any higher threshold approved by the Boards of banks have been termed “wholesale deposits”. The term “bulk deposit”, though not specifically defined, has been inter-changeably used wi...
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Exchange Earner\'s Foreign Currency (EEFC) Account, Diamond Dollar
Posted Date : 23-Jan-2013 , 01:56:12 pm | Posted By: KIRANGI KANSARA
To
All Category - I Authorized Dealer Banks
Madam/ Sir,
Exchange Earner's Foreign Currency (EEFC) Account, Diamond Dollar
Account (DDA) & Resident Foreign Currency (RFC) Domestic Account
Attention of Authorised Dealer (AD) Category - I banks is invited to
A.P. (DIR Series)
Circulars Nos. 15
, 124, 128, 8 and 12 dated November 30, 2006, May 10, 2012, May
16, 2012, July 18, 2012 and July 31, 2012 respectively, in terms of which all the foreign
exchange earners were per...
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Settlement of Claims in respect of Deceased Depositors
Posted Date : 21-Jan-2013 , 01:41:04 pm | Posted By: Vinay Sharma
RBI/2012-13/386 UBD.BPD.(PCB)CIR No. 32/13.01.000/2012-13
January 21, 2013
The Chief Executive Officers All Primary (Urban) Co-operative Banks
Dear Sir,
Settlement of Claims in respect of Deceased Depositors – Simplification of Procedure - UCBs
Please refer to paragraph 2 of our circular UBD.BPD.CIR No.4/13.01.000/ 2005-06 dated July 14, 2005 on the captioned subject. In case of access to balance in deposits accounts with survivor /nominee clause, UCBs were advised that while m...
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KYC Norms/AML Standards/Combating Financing of Terrorism/Obligation of banks under PMLA, 2002
Posted Date : 19-Jan-2013 , 01:37:40 pm | Posted By: Vinay Sharma
RBI/2012-13/385 DBOD.AML.BC. No.71/14.01.001/2012-13
January 18, 2013
The Chairmen/CEOs of all Scheduled Commercial Banks (Excluding RRBs)/Local Area Banks /All India Financial Institutions
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
Please refer to paragraph 2.4 (a) of Master Circular DBOD.AML.BC. No.11/14.01.001/2012-13 dated July...
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Definition of \'Infrastructure Loan\' of NBFCs - Harmonisation
Posted Date : 14-Jan-2013 , 06:49:00 pm | Posted By: Vinay Sharma
RBI/2012-13/351 DNBS.PD.CC.No. 317/03.10.001/2012-13
December 28, 2012
All NBFCs
Dear Sir/Madam,
Definition of 'Infrastructure Loan' of NBFCs - Harmonisation
Please refer to RBI’s circular DBOD.No.BP.BC.58/ 08.12.014/2012-13 dated November 20, 2012 on ‘Second Quarter Review of Monetary Policy 2012-13 – Definition of Infrastructure Lending' in terms of which the definition of ‘infrastructure lending for the purpose of financing of infrastructure by the bank...
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Simplification and Revision of Softex Procedure at SEZs
Posted Date : 14-Jan-2013 , 11:30:06 am | Posted By: Vinay Sharma
RBI/2012-13/359 A.P. (DIR Series) Circular No. 66
January 1, 2013
To
All Category - I Authorized Dealer Banks
Madam / Sir,
Export of Goods and Services – Simplification and Revision of Softex Procedure at SEZs
Attention of the Authorised Dealer Banks is invited to Regulation 6 of the Notification No. FEMA 23/2000-RB dated May 3, 2000 viz. Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, as amended by the Notification No.FEMA.36/2001-RB dated Februa...
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Issue of equity shares under the FDI scheme allowed under the Government route
Posted Date : 12-Jan-2013 , 11:36:28 am | Posted By: Vinay Sharma
RBI/2012-13/375 A. P. (DIR Series) Circular No.74
January 10, 2013
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Foreign Direct Investment (FDI) in India - Issue of equity shares under the FDI scheme allowed under the Government route
Attention of Authorised Dealers Category – I (AD Category - I) banks is invited to Para 3 of A.P. (DIR Series) Circular No. 74 dated June 30, 2011 read with A.P. (DIR Series) Circular No. 55 dated December 9, 2011, allowing ther...
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Circular No. 65, Dated Dec 27, 2012
Posted Date : 28-Dec-2012 , 05:34:21 pm | Posted By: Vinay Sharma
RBI/2012-13/350 A.P. (DIR Series) Circular No. 65
December 27, 2012
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Exim Bank's Line of Credit of USD 250 million to the Government of the Republic of Mozambique
Export-Import Bank of India (Exim Bank) has concluded an Agreement dated September 20, 2012 with the Government of the Republic of Mozambique, making available to the latter, a Line of Credit (LOC) of USD 250 million (USD two hundred fifty million) for financing ...
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Circular No. 64, Dated Dec 27, 2012
Posted Date : 28-Dec-2012 , 05:33:44 pm | Posted By: Vinay Sharma
RBI/2012-13/349 A.P. (DIR Series) Circular No. 64
December 27, 2012
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Exim Bank's Line of Credit of USD 19 million to the Government of the Co-Operative Republic of Guyana
Export-Import Bank of India (Exim Bank) has concluded an Agreement dated October 30, 2012 with the Government of the Co-Operative Republic of Guyana, making available to the latter, a Line of Credit (LOC) of USD 19 million (USD nineteen million) for finan...
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Frauds-Classification and Reporting
Posted Date : 27-Dec-2012 , 12:12:48 pm | Posted By: Vinay Sharma
RBI/2012-13/329 DNBS (PD).CC.No.315/03.10.42/2012-13
December 13, 2012
All Non Banking Financial Companies / Residuary Non Banking Companies
Dear Sir / Madam,
Frauds-Classification and Reporting
Please refer to our Circular No 283 dated July 2, 2012 i.e. the Master Circular-Frauds – Future approach towards monitoring of frauds in NBFCs.
2. As per para 3.4 of the above mentioned circular, cases of attempted fraud, involving likely loss of Rs 25 lakh or more should be reporte...
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KYC norms /AML Standards/CFT)/Obligation of banks under PMLA, 2002
Posted Date : 26-Dec-2012 , 04:15:12 pm | Posted By: Vinay Sharma
RBI/2012-13/342 UBD.BPD (PCB) Cir. No. 28/14.01.062/2012-13
December 19, 2012
The Chief Executive Officer of All Primary (Urban) Co-operative Banks
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
Please refer to our Master Circular UBD.BPD. (PCB) MC.No.16/12.05.001/2012-13 dated July 2, 2012 on Know Your Customer (KYC) norms / An...
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Broadband on Demand - Migration from IPv4 to IPv6
Posted Date : 25-Dec-2012 , 10:01:16 pm | Posted By: Vinay Sharma
RBI/2012-13/344 DPSS.CO.AD.No.984/02.27.005/2012-13
December 20, 2012
The President / Managing Director / CEO All Payment System Operators Authorised under the PSS Act, 2007
Madam / Dear Sir,
Broadband on Demand - Migration from IPv4 to IPv6
As you may be aware the Government has envisaged providing “Broadband on Demand” by 2015 in the recently unveiled National Telecom Policy (NTP) – 2012 emphasizing the role of Internet as catalyst for socio-economic development...
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The Co-operative Banks (Nomination) Rules, 1985 - Clarifications
Posted Date : 25-Dec-2012 , 03:51:05 pm | Posted By: Vinay Sharma
The Co-operative Banks (Nomination) Rules, 1985 - Clarifications
RBI/2012-13/348 RPCD.CO. RCB.BC.No. 6335/07.51.010/2012-13
December 24, 2012
The Chairmen / CEOs of all State and Central Co-operative Banks
Dear Sir/Madam,
The Co-operative Banks (Nomination) Rules, 1985 - Clarifications
As you are aware, the Co-operative Banks (Nomination) Rules, 1985 have been framed in exercise of powers conferred under Section 52, read with Sections 45-ZA, 45-ZC, 45-ZE and 56 of the Banking Re...
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Special Deposit Scheme 1975
Posted Date : 25-Dec-2012 , 03:50:10 pm | Posted By: Vinay Sharma
Special Deposit Scheme 1975 – Payment of interest for the calendar year 2012
RBI/2012-13/347 DGBA.CDD. No. H- 3415 /15.01.001 / 2012-13
December 24, 2012
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 Ba...
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Standardisation and Enhancement of Security Features in Cheque Forms - Migrating to CTS 2010 Standards
Posted Date : 21-Dec-2012 , 08:49:37 pm | Posted By: CASANSAAR
RBI/2012-13/345DNBS.PD/ CC.NO.316/03.10.001/2012-13
December 20, 2012
All NBFCs
Dear Sir/Madam,
Standardisation and Enhancement of Security Features in Cheque Forms - Migrating to CTS 2010 Standards
A reference is invited to ourCircular No DNBS.PD/ CC.NO.308 /03.10.001/2012-13 November 6, 2012advising all NBFCs to ensure replacement of all Non-CTS-2010 standard compliant cheques received from their customers for future EMI payments by December 31, 2012.
2. Representations have been receive...
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Core Investment Companies
Posted Date : 15-Dec-2012 , 10:05:02 pm | Posted By: Vinay Sharma
RBI/2012-13/314 DNBS (PD) CC.No.311/03.10.001/2012-13
December 06 , 2012
All Core Investment Companies
Dear Sirs,
Core Investment Companies – Overseas Investment (Reserve Bank) Directions, 2012
Please refer to the Non-Banking Financial Companies (Opening of Branch/Subsidiary/Joint Venture/Representative Office or Undertaking Investment Abroad by NBFCs) Directions, 2011 dated June 14, 2011. The Directions have specified general and specific conditions for overseas investment by NBF...
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Who is Willful Defaulters?
Posted Date : 15-Dec-2012 , 10:04:27 pm | Posted By: Vinay Sharma
Willful Defaulters
Reserve Bank of India (RBI) collects on quarterly basis, the information on Willful Defaulters (non-suit filed accounts) of Rs. 25 lakh and above from Banks. Besides RBI, the Credit Information Companies, including Credit Information Bureau of India Ltd. (CIBIL) are maintaining a database on suit filed accounts, including willful defaulters with Rs. 25 lakhs and above. The details of such accounts as on 31st March 2012 in Public Sector Banks are as under:
(Amount in...
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Liaison Office (LO) / Branch Office (BO) in India by Foreign Entities
Posted Date : 15-Dec-2012 , 10:03:47 pm | Posted By: Vinay Sharma
Liaison Office (LO) / Branch Office (BO) in India by Foreign Entities – Reporting to Income Tax Authorities
Vide A. P. (DIR Series) Circular No.24 dated December 30, 2009, RBI had mandated that Branch Offices (BO) / Liaison Offices (LO) are required to submit Annual Activity Certificate (AAC) from their Auditors to the Central Office / Regional Office of the Reserve Bank, certifying that the BO / LO has carried out only those activities which are approved by the Reserve Bank. With e...
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Issuance of rupee denominated co-branded pre-paid cards
Posted Date : 15-Dec-2012 , 10:03:09 pm | Posted By: Vinay Sharma
RBI/2012-13/325 DBOD.No.FSD.BC. 67/24.01.019/2012-13
December 12, 2012
All Scheduled Commercial Banks (excluding RRBs)
Dear Sir/ Madam,
Issuance of rupee denominated co-branded pre-paid cards
Please refer to paragraphs 106 and 107 (extract enclosed) of the Second Quarter Review of Monetary Policy 2012-13 announced on October 30, 2012, proposing to accord general permission to banks for issue of co-branded debit and rupee denominated pre-paid instruments, subject to certain conditions, i...
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Guidelines for issue of debit cards by banks
Posted Date : 15-Dec-2012 , 10:01:44 pm | Posted By: Vinay Sharma
RBI/2012-13/324 DBOD.No.FSD.BC.66/24.01.019/2012-13
December 12, 2012
All Scheduled Commercial Banks (excluding RRBs)
Dear Sir/ Madam,
Guidelines for issue of debit cards by banks
Please refer to paragraphs 106 and 107 (extract enclosed) of the Second Quarter Review of Monetary Policy 2012-13 announced on October 30, 2012, proposing to accord general permission to banks for issue of co-branded debit and rupee denominated pre-paid instruments, subject to certain conditions, in order to o...
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Non-CTS 2010 Standard cheques withdrawal time limit extended to to March 31, 2013
Posted Date : 15-Dec-2012 , 10:00:43 pm | Posted By: Vinay Sharma
RBI/2012-13/335 DPSS.CO.CHD.No.955/04.07.05/2012-13
December 14, 2012
Standardisation and Enhancement of Security Features in Cheque Forms-Migrating to CTS 2010 standards
A reference is invited to our circular DPSS.CO.CHD.No. 399/04.07.05/2012-13 dated September 3, 2012 advising all banks to arrange to issue only multi-city/payable at par CTS-2010 standard cheques not later than September 30, 2012 and to withdraw the non-CTS-2010 Standard cheques in circulation before December 31, 2012 by...
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