Year 2000 (Y2K) Problem – Remediation framework and Compliance Deadlines (Indian Commercial Banks)

Ref DBS. No. Y2K .BC/38 /35.01.00/98-99November 11, 1998The Chairman/ Chief ExecutiveAll Indian Commercial BanksDear Sir,Please refer to our circulars DBS.No.Y2K.BC/24/35.01.00/98-99 dated August 7, 1998 and DBS.No.Y2K.BC/30/35.01.00/98-99 dated September 14, 1998 outlining a broad remediation framework that may be adopted by banks for managing their Year 2000 process while stipulating expected standards of compliance and testing. Banks were expected to complete all t

Ref DBS. No. Y2K .BC/38 /35.01.00/98-99November 11, 1998The Chairman/ Chief ExecutiveAll Indian Commercial BanksDear Sir,Please refer to our circulars DBS.No.Y2K.BC/24/35.01.00/98-99 dated August 7, 1998 and DBS.No.Y2K.BC/30/35.01.00/98-99 dated September 14, 1998 outlining a broad remediation framework that may be adopted by banks for managing their Year 2000 process while stipulating expected standards of compliance and testing. Banks were expected to complete all t

Year 2000 (Y2K) Problem – Remediation framework and Compliance Deadlines (Indian Commercial Banks)

Year 2000 (Y2K) Problem – Remediation framework and Compliance Deadlines (Foreign Banks)

Ref DBS. No. Y2K .BC/37 /35.01.00/98-99November 11, 1998The Chief Executive OfficerAll Foreign BanksDear Sir,Please refer to our circulars DBS.No.Y2K.BC/23/35.01.00/98-99 dated August 7, 1998 and DBS.No.Y2K.BC/29/35.01.00/98-99 dated September 14, 1998 outlining a broad remediation framework that may be adopted by banks for managing their Year 2000 process while stipulating expected standards of compliance and testing. Banks were expected to complete all the primary m

Ref DBS. No. Y2K .BC/37 /35.01.00/98-99November 11, 1998The Chief Executive OfficerAll Foreign BanksDear Sir,Please refer to our circulars DBS.No.Y2K.BC/23/35.01.00/98-99 dated August 7, 1998 and DBS.No.Y2K.BC/29/35.01.00/98-99 dated September 14, 1998 outlining a broad remediation framework that may be adopted by banks for managing their Year 2000 process while stipulating expected standards of compliance and testing. Banks were expected to complete all the primary m

Year 2000 (Y2K) Problem – Remediation framework and Compliance Deadlines (Foreign Banks)

Year 2000 (Y2K) Issues – Supervisory Enforcement

Ref DBS. No. Y2K.BC/44 /35.01.00/98-99January 15, 1999The Chairman/ Managing Director/ Chief ExecutiveAll Commercial BanksDear Sir:As you are aware, the Reserve Bank of India attaches a great deal of importance to the Year 2000 preparations of institutions and markets in the financial sector. In terms of the broad remediation framework communicated by us, banks were expected to put in place appropriate time bound strategies to assess, convert, validate and implement f

Ref DBS. No. Y2K.BC/44 /35.01.00/98-99January 15, 1999The Chairman/ Managing Director/ Chief ExecutiveAll Commercial BanksDear Sir:As you are aware, the Reserve Bank of India attaches a great deal of importance to the Year 2000 preparations of institutions and markets in the financial sector. In terms of the broad remediation framework communicated by us, banks were expected to put in place appropriate time bound strategies to assess, convert, validate and implement f

Year 2000 (Y2K) Issues – Supervisory Enforcement

Year 2000 (Y2K) Issues – Contingency Planning

Ref DBS. No. Y2K .BC/47 /35.01.00/98-99February 27, 1999Chairman/ Managing Director/ Chief ExecutiveAll Commercial BanksDear SirPlease refer to our circular Ref.DBS. No.Y2K.BC. /42/35.01.00/98-99 dated December 1, 1998 advising banks and financial institutions of the need to develop contingency plans, apart from normal business continuity and disaster recovery plans, to assure business continuity as an integral part of their Year 2000 programme. The Board of Directors

Ref DBS. No. Y2K .BC/47 /35.01.00/98-99February 27, 1999Chairman/ Managing Director/ Chief ExecutiveAll Commercial BanksDear SirPlease refer to our circular Ref.DBS. No.Y2K.BC. /42/35.01.00/98-99 dated December 1, 1998 advising banks and financial institutions of the need to develop contingency plans, apart from normal business continuity and disaster recovery plans, to assure business continuity as an integral part of their Year 2000 programme. The Board of Directors

Year 2000 (Y2K) Issues – Contingency Planning

Year 2000 (Y2K) Issues – Information Sharing and Disclosure (Commercial Banks)

Ref DBS. No. Y2K.BC/ 50 /35.01.00/98-99May 21, 1999The Chairman/ Managing Director/ Chief ExecutiveAll Commercial BanksDear Sir:As you are aware, the Year 2000 problem poses a major challenge to banks and financial institutions as they make the transition to the new millennium. The complexity of the issues involved and the uncertainty associated with the behaviour of even remediated systems makes the task of ensuring Y2K readiness daunting.The interconnectedness of fi

Ref DBS. No. Y2K.BC/ 50 /35.01.00/98-99May 21, 1999The Chairman/ Managing Director/ Chief ExecutiveAll Commercial BanksDear Sir:As you are aware, the Year 2000 problem poses a major challenge to banks and financial institutions as they make the transition to the new millennium. The complexity of the issues involved and the uncertainty associated with the behaviour of even remediated systems makes the task of ensuring Y2K readiness daunting.The interconnectedness of fi

Year 2000 (Y2K) Issues – Information Sharing and Disclosure (Commercial Banks)

Year 2000 (Y2K) Issues – Information Sharing and Disclosure (Financial Institutions/ Non-Banking Subsidiaries of Commercial Banks/Primary (Urban) Cooperative Banks/ Primary/ Satellite Dealersin Government Securities)

Ref DBS. No. Y2K.BC/ 51 /35.01.00/98-99May 21, 1999The Chairman/ Managing Director/ Chief ExecutiveAll Financial Institutions/ Non-Banking Subsidiaries of Commercial Banks/Primary (Urban) Cooperative Banks/ Primary/ Satellite Dealersin Government SecuritiesDear Sir:As you are aware, the Year 2000 problem poses a major challenge to banks and financial institutions as they make the transition to the new millennium. The complexity of the issues involved and the uncertain

Ref DBS. No. Y2K.BC/ 51 /35.01.00/98-99May 21, 1999The Chairman/ Managing Director/ Chief ExecutiveAll Financial Institutions/ Non-Banking Subsidiaries of Commercial Banks/Primary (Urban) Cooperative Banks/ Primary/ Satellite Dealersin Government SecuritiesDear Sir:As you are aware, the Year 2000 problem poses a major challenge to banks and financial institutions as they make the transition to the new millennium. The complexity of the issues involved and the uncertain

Year 2000 (Y2K) Issues – Information Sharing and Disclosure (Financial Institutions/ Non-Banking Subsidiaries of Commercial Banks/Primary (Urban) Cooperative Banks/ Primary/ Satellite Dealersin Government Securities)

Year 2000 (Y2K) Issues – Statutory Audit for the Year 1998 -99

Ref DBS. No. Y2K.BC/ 52 /35.01.00/98-99May 25, 1999The Chairman/ Managing Director/ Chief ExecutiveAll Commercial Banks/ Non-Banking Subsidiaries of Commercial Banks/Financial Institutions/ Primary (Urban) Cooperative Banks/ Primary/ Satellite Dealers in Government SecuritiesDear Sir:The Institute of Chartered Accountants of India (ICAI) have circulated a 'Guidance Note on the Auditor's Duties in relation to the Year 2000 (Y2K) Issue' for the use and guidance of their

Ref DBS. No. Y2K.BC/ 52 /35.01.00/98-99May 25, 1999The Chairman/ Managing Director/ Chief ExecutiveAll Commercial Banks/ Non-Banking Subsidiaries of Commercial Banks/Financial Institutions/ Primary (Urban) Cooperative Banks/ Primary/ Satellite Dealers in Government SecuritiesDear Sir:The Institute of Chartered Accountants of India (ICAI) have circulated a 'Guidance Note on the Auditor's Duties in relation to the Year 2000 (Y2K) Issue' for the use and guidance of their

Year 2000 (Y2K) Issues – Statutory Audit for the Year 1998 -99

A.D.(M.A. Series) Circular No.21 (June 18, 1999)

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI 400001June 18, 1999A.D.(M.A. Series) Circular No.21To All Authorised Dealers in Foreign ExchangeDear Sirs,Simplification of procedures applicable to Non-residents of Indian Nationality(NRIs)/Persons of Indian Origin (PIOs)/Overseas Corporate Bodies (OCBs) Reserve Bank had introduced certain modifications to the provisions of Exchange Control Manual (ECM) through issue of A.D.(M.A. Series) Circular No

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI 400001June 18, 1999A.D.(M.A. Series) Circular No.21To All Authorised Dealers in Foreign ExchangeDear Sirs,Simplification of procedures applicable to Non-residents of Indian Nationality(NRIs)/Persons of Indian Origin (PIOs)/Overseas Corporate Bodies (OCBs) Reserve Bank had introduced certain modifications to the provisions of Exchange Control Manual (ECM) through issue of A.D.(M.A. Series) Circular No

A.D.(M.A. Series) Circular No.21 (June 18, 1999)

A.D.(G.P. Series) Circular No.6 (June 5, 1999)

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI 400 001June 5, 1999A.D.(G.P. Series) Circular No.6To All Authorised Dealers in Foreign ExchangeDear Sirs,International Credit Cards (ICCs) Please refer to A.D.(M.A. Series) Circular No.51 dated 31st December 1998 on the above subject. It is observed that some authorised dealers/card issuing organisations have been insisting on submission of post trip declaration by the holder of International Credit

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI 400 001June 5, 1999A.D.(G.P. Series) Circular No.6To All Authorised Dealers in Foreign ExchangeDear Sirs,International Credit Cards (ICCs) Please refer to A.D.(M.A. Series) Circular No.51 dated 31st December 1998 on the above subject. It is observed that some authorised dealers/card issuing organisations have been insisting on submission of post trip declaration by the holder of International Credit

A.D.(G.P. Series) Circular No.6 (June 5, 1999)

A.D.(G.P. Series) Circular No.7 (June 9, 1999)

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI 400 001June 9, 1999A.D.(G.P. Series) Circular No.7To All Authorised Dealers in Foreign ExchangeDear Sirs,Deferred Payments Protocols dated 30th April 1981 and 23rd December 1985 between the Governments of Indiaand erstwhile USSR Attention of authorised dealers is invited to A.D.(G.P. Series) Circular No.23 dated 10th October 1998 wherein the rupee value of the special currency basket effective from 5

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI 400 001June 9, 1999A.D.(G.P. Series) Circular No.7To All Authorised Dealers in Foreign ExchangeDear Sirs,Deferred Payments Protocols dated 30th April 1981 and 23rd December 1985 between the Governments of Indiaand erstwhile USSR Attention of authorised dealers is invited to A.D.(G.P. Series) Circular No.23 dated 10th October 1998 wherein the rupee value of the special currency basket effective from 5

A.D.(G.P. Series) Circular No.7 (June 9, 1999)