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Category : RBI |
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Auction of Government of India Dated Securities
Posted Date : 22-May-2012 , 10:33:52 am | Posted By: CA. SURESH Kr. AGARWAL
All Scheduled Commercial Banks All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/ All Primary Dealers.
Dear Sirs,
Auction of Government of India Dated Securities
Government of India have offered to sell (re-issue) (a) “8.24 percent Government Stock 2018 for a notified amount of Rs.4,000 crore (nominal) through a price based auction using uniform price method vide Notification No.4(5)-W&M/2012 dated May 21, 2012; (b) &...
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Deregulation of Savings Bank Deposit Interest Rate - Guidelines
Posted Date : 05-Feb-2012 , 06:41:37 pm | Posted By: Mrattunjay
All Scheduled Commercial Banks(Excluding RRBs)
Dear Sir/Madam,
Deregulation of Savings Bank Deposit Interest Rate - Guidelines
Please refer to our circular DBOD.Dir.BC. 42 /13.03.00/2011-12 dated October 25, 2011.
2. Based on the references received from banks, we clarify that the revised guidelines issued vide our circular referred to above would be applicable to domestic savings bank deposits held by residents in India. Further, the interest rates applicable on the domestic savin...
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RBI |
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Maintenance of Cash Reserve Ratio (CRR)
Posted Date : 31-Jan-2012 , 01:53:52 pm | Posted By: CA Satuti Mahajan
भारतीय िरज़वर् बैंक
RESERVE BANK OF INDIA___________________
www.rbi.org.in
RBI/2011-12/369
UBD.BPD. (PCB). CIR.No. 2 /12.03.000/2011-12 January 25, 2012
The Chief Executive Officers of
All Scheduled Primary (Urban) Co-operative Banks
Dear Sir,
Section 42(1) of Reserve Bank of India Act, 1934 –
Maintenance of Cash Reserve Ratio (CRR)
Pl...
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RBI |
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Guidelines on Compensation of Whole Time Directors / Chief Executive Officers / Risk takers and Control function staff, etc
Posted Date : 20-Jan-2012 , 12:33:38 pm | Posted By: CA. SANAT PYNE
RBI/2011-12/349DBOD No.BC.72/29.67.001/2011-12
January 13, 2012
All Private Sector and Foreign Banks operating in India
Dear Sir / Madam,
Guidelines on Compensation of Whole Time Directors / Chief ExecutiveOfficers / Risk takers and Control function staff, etc.
The compensation practices, especially of large financial institutions, were one of the important factors which contributed to the recent global financial crisis.Employees were too often rewarded for increasing the short-term profi...
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RBI |
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Risk Management and Inter-Bank Dealings - Commodity Hedging
Posted Date : 20-Jan-2012 , 12:31:52 pm | Posted By: CA. SANAT PYNE
RBI/2011-12/353A. P. (DIR Series) Circular No.68
January 17, 2012
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Risk Management and Inter-Bank Dealings - Commodity Hedging
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) Circ...
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Implementation of Section 51-A of UAPA, 1967 - Updates of the UNSCR 1988 (2011) Sanctions List - RRBs
Posted Date : 20-Jan-2012 , 12:25:52 pm | Posted By: CA. SANAT PYNE
RBI/2011-12/354RPCD.CO RRB.AML.No. 7156/03.05.28(A)/2011-12
January 18, 2012
The ChairmenAll Regional Rural Banks (RRBs)
Dear Sir,
Implementation of Section 51-A of UAPA, 1967-Updates of the UNSCR 1988 (2011) Sanctions List
Please refer to our circularRPCD.CO RRB.AML.BC.No.51/03.05.33(E)/2011-12 dated January 2, 2012. We have since received from Government of India, Ministry of External Affairs, UNP Division copies of notes forwarded by the Chairman of UN Security Council's 1988 Committe...
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RBI |
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Trade Credits for Imports into India
Posted Date : 15-Nov-2011 , 09:07:46 pm | Posted By: CASANSAAR
RBI/2011 -12/257A. P. (DIR Series) Circular No. 44
November 15, 2011
To,
All Category - I Authorised Dealer Banks
Madam / Sir,
Trade Credits for Imports into India – Review of all-in-cost ceiling
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited toA. P. (DIR Series) Circular No. 27 dated October 27, 2008relating to the all-in-cost ceiling of Trade Credits for imports into India.
2. On a review of developments in the global financial markets and the ...
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RBI |
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Interest Rates on Export Credit in Foreign Currency
Posted Date : 15-Nov-2011 , 09:01:44 pm | Posted By: CASANSAAR
RBI/2011-12/258DBOD.DIR.No. 52 /04.02.001/2011-12
November 15, 2011
All Scheduled Commercial Banks
Dear Sir/Madam,
Interest Rates on Export Credit in Foreign Currency
Please refer to ourcircular DBOD.DIR.(Exp).No.76/04.02.001/2009-10 dated February 19, 2010as also paragraph 7 of Master Circular on Rupee/Foreign Currency Export Credit and Customer Service to Exporters dated July 01, 2011 relating to export credit in foreign currency.
2. Keeping in view the tight liquidity conditions...
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RBI |
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Payment of Cheques/Drafts/Pay Orders/Banker
Posted Date : 05-Nov-2011 , 11:15:23 am | Posted By: CASANSAAR
The Chairmen/Chief Executive Officers All Scheduled Commercial Banks (excluding RRBs)/Local Area Banks
Dear Sir,
Payment of Cheques/Drafts/Pay Orders/Banker’s Cheques
In India, it has been the usual practice among bankers to make payment of only such cheques and drafts as are presented for payment within a period of six months from the date of the instrument.
2. It has been brought to the notice of Reserve Bank by Government of India that some persons are taking undue...
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RBI |
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External Commercial Borrowing (ECB) Policy
Posted Date : 26-Sep-2011 , 04:56:15 pm | Posted By: CA.VIRAL JANI
On a review of the current ECB policy, it has been decided, in consultation with the Government of India, to further rationalise and liberalize the ECB Policy as under :
(i) The limit for eligible borrowers to avail of ECB under the automatic route per financial year has been enhanced as follows:
corporates in real sector-industrial sector-infrastructure sector – USD 750 million or equivalent as against the present limit of USD 500 million or equivalent.
corporates in specified ...
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RBI |
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Dishonour of electronic funds transfer for insufficiency of funds in the bank account
Posted Date : 22-Sep-2011 , 07:46:41 am | Posted By: CASANSAAR
As you may be aware section 25 of the paymentand Settlement Systems Act, 2007 accords the same rights and remedies to the payee (beneficiary) against dishonour ofelectronic fund transferinstructions for insufficiency of funds in the account of the payer (remitter), as are available to the payee under section 138 of the Negotiable Instruments Act, 1881.
2. The sub-section (5) of the section 25 of thePaymentand Settlement Systems Act, 2007 provides for punishment of two years and twice the amou...
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Gift in Rupees by Resident Individuals to NRI close relatives
Posted Date : 16-Sep-2011 , 07:46:34 pm | Posted By: Vasu Butti
To
All Banks Authorised to Deal in Foreign Exchange
Madam / Sir,
Gift in Rupees by Resident Individuals to NRI close relatives
Attention of the Authorised Dealer (AD) banks is invited toA.P. (DIR Series) Circular No. 24 dated December 20, 2006andA.P. (DIR Series) Circular No. 9 dated September 26, 2007in terms of which the remittances towards gift and donation by a resident individual was included in the Liberalised Remittance Scheme.
2.The Committee to review the facilities for i...
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RBI |
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Standing Liquidity Facilities for Banks and Primary Dealers
Posted Date : 16-Sep-2011 , 07:43:49 pm | Posted By: Vasu Butti
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 theMid-Quarter Monetary Policy Review of September 16, 2011, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 8.00 per cent to 8.25 per cent with immediate effect.
2. Accordingly, the Standing Liquidity Facilities provided to banks (export...
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RBI/2011-12/180 A.P. (DIR Series) Circular No. 18
Posted Date : 16-Sep-2011 , 07:41:59 pm | Posted By: Vasu Butti
To
All Banks Authorised to Deal in Foreign Exchange
Madam / Sir,
Loans in Rupees by resident individuals to NRI close relatives
Attention of the Authorised Dealer (AD) banks is invited toRegulation 7 of theNotification No. FEMA 4/2000 dated May 3, 2000, viz. Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000, as amended from time to time, in terms of which an authorised dealer in India may grant loan in rupees to a non-resident Indian.
2. The Committee...
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RBI |
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Guidelines on Base Rate
Posted Date : 11-Sep-2011 , 11:33:05 am | Posted By: Vasu Butti
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir / Madam
Guidelines on Base Rate
Please refer to our circular No. DBOD.Dir.BC.88/13.07.001/2009-10 dated April 9, 2010 and our letter DBOD.Dir.No. 21957/13.07.001/ 2009- 10 dated June 24, 2010 addressed to Indian Banks’ Association (IBA) on the subject.
2. The National Scheduled Tribes Finance and Development Corporation (NSTFDC), a wholly owned Government of India Section 25 Company under the Ministry of Tribal Affairs, ...
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Substitution of term Micro and Small Enterprises in place of SSI in the documents
Posted Date : 07-Sep-2011 , 10:37:52 pm | Posted By: Vasu Butti
The ChairmenAll Regional Rural Banks (RRBs)
Dear Sir,
Substitution of term Micro and Small Enterprises in place of SSI in the documents
Copies of thenotification No.S.O.1642 (E) dated September 29, 2006issued by the Ministry of Small Scale Industries andS.O.563 (E) dated February 27, 2009issued by Ministry of Commerce and Industry regarding substitution of term 'Micro and Small Enterprises' in place of the term 'Small Scale Industries' are enclosed. Kindly ensure that your internal ...
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Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR
Posted Date : 07-Sep-2011 , 10:36:09 pm | Posted By: Vasu Butti
o
All Category - I Authorised Dealer Banks
Madam / Sir,
Deferred Payment Protocols dated April 30, 1981 and December 23, 1985between Government of India and erstwhile USSR
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No.41 dated February 11, 2011, wherein the Rupee value of the special currency basket was indicated asRs.64.7004 effective from January 31, 2011.
2. AD Category-I banks are advised that a further revision has ta...
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RBI |
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Submission of Credit Information to Credit Information Companies
Posted Date : 07-Sep-2011 , 10:33:55 pm | Posted By: Vasu Butti
Chairmen/Managing Directors/CEOsAll Scheduled Commercial Banks(excluding RRBs and LABs)All India Notified Financial Institutions
Dear Sir,
Submission of Credit Information to Credit Information Companies –Defaulters ofRs.1 Crore and above andWilful Defaulters ofRs.25 lakh and above –Dissemination of Credit Information of suit-filed accounts
Please refer to ourCirculars DBOD.No.DL.BC.111/20.16.001/2001-02 dated June 4, 2002regarding submission of credit information to Credi...
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RBI |
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RTGS service charges for members
Posted Date : 07-Sep-2011 , 02:25:04 am | Posted By: Anjali Arora
RBI/2011-12/166
DPSS (CO) RTGS No.388/04.04.002/2011-2012
September 05, 2011
Chairman and Managing Director /Chief Executive Officer of all RTGS participants
Madam / Dear Sir,
RTGS service charges for members
As you are aware, the Reserve Bank of India has not been levying any service charges on the members for the usage of the RTGS system since its inception.
2. In consultation with stakeholders it has since been decided to levy service charges for all outward transacti...
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Enhancement of Rates of Provisioning for Non-Performing Assets and Restructured Advances
Posted Date : 10-Jun-2011 , 05:19:41 am | Posted By: CASANSAAR
RBI 2010-11/529DBOD.No.BP.BC. 94/21.04.048/2011-12
May 18, 2011
The Chairman and Managing Directors / Chief Executive OfficersAll Scheduled Commercial Banks (Excluding RRBs)
Dear Sir/ Madam
Enhancement of Rates of Provisioning for Non-Performing Assets andRestructured Advances
Please refer to paragraph 110 of the Monetary Policy Statement for the year 2011-12 (extract enclosed) wherein it was proposed to enhance the provisioning requirements on certain categories of non-performing advances ...
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Regulatory and Audit Compliance
Posted Date : 08-Jun-2011 , 09:03:15 pm | Posted By: CASANSAAR
RBI/2010-11/520Ref.DBS.ARS.BC. No.07/ 08.91.020/ 2010-11
May 11, 2011
The Chief Executives OfficersAll foreign banks operating in India
Dear Sir/Madam,
Regulatory and Audit Compliance
It is observed that Indian operations of foreign banks functioning in India as branches of the parent banks generally do not have a separate Audit Committee vested with the responsibility of examining and reviewing inspection/audit reports for their compliance. In the recent past, there have been concerns abou...
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