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Oct 10, 2007
Guidelines on Fair Practices Code for Non-Banking Financial Companies
RBI/2007-08/158 DNBS.PD/ CC. No. / 03.10.042 /2007-08 October 10, 2007 All Non-Banking Financial Companies (including Residuary Non-Banking Companies) Dear Sir, Guidelines on Fair Practices Code for Non-Banking Financial Companies Please refer to our Company Circular DNBS (PD) CC No. 80 / 03.10.042 / 2005-06 dated September 28, 2006 wherein guidelines were issued to NBFCs (including RNBCs) for framing the Fair Practices Code. In terms of paragraph (ii) of the Annex to
RBI/2007-08/158 DNBS.PD/ CC. No. / 03.10.042 /2007-08 October 10, 2007 All Non-Banking Financial Companies (including Residuary Non-Banking Companies) Dear Sir, Guidelines on Fair Practices Code for Non-Banking Financial Companies Please refer to our Company Circular DNBS (PD) CC No. 80 / 03.10.042 / 2005-06 dated September 28, 2006 wherein guidelines were issued to NBFCs (including RNBCs) for framing the Fair Practices Code. In terms of paragraph (ii) of the Annex to
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Oct 09, 2007
Opening of Controlling Offices by amalgamated RRBs
RBI/2007-2008/156 RPCD.CO.RRB.No.BC.28/03.05.90-A/2007-08 October 9, 2007 All Regional Rural Banks Dear Sir, Opening of Controlling Offices by amalgamated RRBs Please refer to paragraph 2.4 of our Master Circular RPCD.CO.RRB. No. BL. BC.09 / 03.05.90-A / 2007-08 dated July 2, 2007. On a review, it has been decided that in partial modification of the instructions contained therein, the Empowered Committee may, taking into account the local conditions and the financials
RBI/2007-2008/156 RPCD.CO.RRB.No.BC.28/03.05.90-A/2007-08 October 9, 2007 All Regional Rural Banks Dear Sir, Opening of Controlling Offices by amalgamated RRBs Please refer to paragraph 2.4 of our Master Circular RPCD.CO.RRB. No. BL. BC.09 / 03.05.90-A / 2007-08 dated July 2, 2007. On a review, it has been decided that in partial modification of the instructions contained therein, the Empowered Committee may, taking into account the local conditions and the financials
Oct 09, 2007
RRBs - Authorisation to Open/Maintain NRO/NRE Accounts in Rupees and Accept FCNR Deposits
RBI/2007-2008/157RPCD.CO. RRB. No. BC. 29 /03.05.33(C) / 2007-08October 09, 2007All Regional Rural Banks Dear SirAuthorisation to open / maintain NRO / NRE accounts in Rupees and accept FCNR deposits by RRBsPlease refer to our circular RPCD.CO.RRB.No.BC 106/ 03.05.33(C)/2006-07 dated June 28, 2007 prescribing the eligibility criteria for RRBs to open/ maintain customers' NRO/NRE accounts in rupees and accept FCNR deposits. The matter of permitting RRBs which are curre
RBI/2007-2008/157RPCD.CO. RRB. No. BC. 29 /03.05.33(C) / 2007-08October 09, 2007All Regional Rural Banks Dear SirAuthorisation to open / maintain NRO / NRE accounts in Rupees and accept FCNR deposits by RRBsPlease refer to our circular RPCD.CO.RRB.No.BC 106/ 03.05.33(C)/2006-07 dated June 28, 2007 prescribing the eligibility criteria for RRBs to open/ maintain customers' NRO/NRE accounts in rupees and accept FCNR deposits. The matter of permitting RRBs which are curre
Oct 05, 2007
Review of loss making branches of banks
RBI/2007-2008/153DBS.CO.SMC.BC.No. 5 /22.23.001/2007-08October 5, 2007 The Chief Executives of allScheduled Commercial Banks(excluding foreign banks)Dear SirReview of loss making branches of banksPlease refer to circular DOS.No.BC.11/22.23.001/95-96 dated June 3, 1996 on the captioned subject in terms of which banks were advised to submit copies of review notes of loss making branches of banks accompanied by statements showing the classification of loss making branche
RBI/2007-2008/153DBS.CO.SMC.BC.No. 5 /22.23.001/2007-08October 5, 2007 The Chief Executives of allScheduled Commercial Banks(excluding foreign banks)Dear SirReview of loss making branches of banksPlease refer to circular DOS.No.BC.11/22.23.001/95-96 dated June 3, 1996 on the captioned subject in terms of which banks were advised to submit copies of review notes of loss making branches of banks accompanied by statements showing the classification of loss making branche
Oct 04, 2007
Guidelines on purchase/sale of Non Performing Assets
RBI/2007-2008/152DBOD.No.BP.BC.34 /21.04.048 /2007-08October 4, 2007All Commercial Banks (excluding RRBs)All India Term Lending and Refinancing InstitutionsAll Non Banking Financial Companies (including RNBCs)Dear Sir,Guidelines on purchase/sale of Non Performing AssetsPlease refer to our Circular No.DBOD.BP.BC.16/21.04.048/2005-06 dated 13 July 2005 on the captioned subject.2. In terms of the above banks' Boards are required to lay down policies and guidelines coveri
RBI/2007-2008/152DBOD.No.BP.BC.34 /21.04.048 /2007-08October 4, 2007All Commercial Banks (excluding RRBs)All India Term Lending and Refinancing InstitutionsAll Non Banking Financial Companies (including RNBCs)Dear Sir,Guidelines on purchase/sale of Non Performing AssetsPlease refer to our Circular No.DBOD.BP.BC.16/21.04.048/2005-06 dated 13 July 2005 on the captioned subject.2. In terms of the above banks' Boards are required to lay down policies and guidelines coveri
Oct 01, 2007
Target under PMRY 2007-08 revised
RBI/2007-2008/151RPCD.PLNFS.BC.No. 27 /09.04.01/ 2007 –2008October 01, 2007 The Chairman / Managing DirectorAll Indian Scheduled Commercial Banks(Excluding RRBs)Dear Sir,Target under PMRY for the programme year 2007-2008 – Revision thereof Please refer to our circular RBI/2006-07/421/ RPCD.PLNFS.BC.No. 100/ 09.04.01/ 2006 –2007 dated May 29, 2007 on the captioned subject. The Ministry of Micro, Small & Medium Enterprises, Government of India has since decided to e
RBI/2007-2008/151RPCD.PLNFS.BC.No. 27 /09.04.01/ 2007 –2008October 01, 2007 The Chairman / Managing DirectorAll Indian Scheduled Commercial Banks(Excluding RRBs)Dear Sir,Target under PMRY for the programme year 2007-2008 – Revision thereof Please refer to our circular RBI/2006-07/421/ RPCD.PLNFS.BC.No. 100/ 09.04.01/ 2006 –2007 dated May 29, 2007 on the captioned subject. The Ministry of Micro, Small & Medium Enterprises, Government of India has since decided to e
Oct 01, 2007
PMRY - Cut-Off date for disbursement for cases relating to milch animals extended
RBI/2007-2008/150RPCD.PLNFS.BC.No. 26 /09.04.01/ 2007 –2008October 01, 2007The Chairman / Managing DirectorAll Indian Scheduled Commercial Banks(Excluding RRBs)Dear Sir,PMRY - Cut-Off date for completion of disbursement for cases relating to milch animals under the Programme Year 2006 -2007 Please refer to our circular RBI / 2006-07/ 316 / RPCD. PLNFS .BC .No. 68 / 09.04.01/ 2006 – 2007 dated April 10, 2007. In partial modification of the circular, the Ministry of Mic
RBI/2007-2008/150RPCD.PLNFS.BC.No. 26 /09.04.01/ 2007 –2008October 01, 2007The Chairman / Managing DirectorAll Indian Scheduled Commercial Banks(Excluding RRBs)Dear Sir,PMRY - Cut-Off date for completion of disbursement for cases relating to milch animals under the Programme Year 2006 -2007 Please refer to our circular RBI / 2006-07/ 316 / RPCD. PLNFS .BC .No. 68 / 09.04.01/ 2006 – 2007 dated April 10, 2007. In partial modification of the circular, the Ministry of Mic
Sep 21, 2007
RRBs - Master Circular on Branch Licencing modified
RBI/2007-2008/144 RPCD.CO. RRB. No. BC. 25/03.05.90-A /2007-08 September 21, 2007 All Regional Rural Banks Dear Sir, Opening, shifting, merger and conversion of branches of RRBs- Dispensing with Service Area Obligations Please refer to paragraphs 3.1, 3.2, 9 and 10 of our Master Circular RPCD.CO.RRB. No. BL. BC.09 /03.05.90-A/2007-08 dated July 2, 2007. As the restrictive provisions of Service Area Approach have been dispensed with, it has been decided to modify the a
RBI/2007-2008/144 RPCD.CO. RRB. No. BC. 25/03.05.90-A /2007-08 September 21, 2007 All Regional Rural Banks Dear Sir, Opening, shifting, merger and conversion of branches of RRBs- Dispensing with Service Area Obligations Please refer to paragraphs 3.1, 3.2, 9 and 10 of our Master Circular RPCD.CO.RRB. No. BL. BC.09 /03.05.90-A/2007-08 dated July 2, 2007. As the restrictive provisions of Service Area Approach have been dispensed with, it has been decided to modify the a
Sep 19, 2007
8% Savings (Taxable) Bonds, 2003 - Income Tax Act. 1961 - TDS
RBI/2007-08/141 Ref DGBA.CDD No H - 3024 /13.01.299 / 2007-08 September 19, 2007 Bhadra 28, 1929 (S) The General Manager State Bank of India & 17 Nationalised Banks ICICI Bank Ltd., IDBI Bank Ltd. HDFC Bank Ltd. AXIS Bank Ltd & SHCIL Dear Sir 8% Savings (Taxable) Bonds, 2003 - Income Tax Act. 1961 - TDS In continuation of our Circular DGBA.CDD.No.H-17134/13.01.299/2006-07 dated May 31, 2007 on the captioned subject, we are appending below the clarifications gi
RBI/2007-08/141 Ref DGBA.CDD No H - 3024 /13.01.299 / 2007-08 September 19, 2007 Bhadra 28, 1929 (S) The General Manager State Bank of India & 17 Nationalised Banks ICICI Bank Ltd., IDBI Bank Ltd. HDFC Bank Ltd. AXIS Bank Ltd & SHCIL Dear Sir 8% Savings (Taxable) Bonds, 2003 - Income Tax Act. 1961 - TDS In continuation of our Circular DGBA.CDD.No.H-17134/13.01.299/2006-07 dated May 31, 2007 on the captioned subject, we are appending below the clarifications gi
Sep 17, 2007
Housing Loans - Orders of the Delhi High Court -
Writ Petition by Kalyan Sanstha Welfare Organisation against
Union of India and Others - Implementation of Directions
Writ Petition by Kalyan Sanstha Welfare Organisation against
Union of India and Others - Implementation of Directions
RBI/2007-2008/138DBOD.BP.BC..No. 33/08.12.01/2007-08September 17, 2007 ToThe Chairman and Managing Directors /Chief Executive Officers of all Commercial Banks Dear Sir,Housing Loans - Orders of the Delhi High Court –Writ Petition by Kalyan Sanstha Welfare Organisation againstUnion of India and Others - Implementation of DirectionsPlease refer to our circular DBOD.Dir.BC.No.43/08.12.01/2006-07@@NBSP@@dated November 17, 2006 on the captioned subject.2. It has been broug
RBI/2007-2008/138DBOD.BP.BC..No. 33/08.12.01/2007-08September 17, 2007 ToThe Chairman and Managing Directors /Chief Executive Officers of all Commercial Banks Dear Sir,Housing Loans - Orders of the Delhi High Court –Writ Petition by Kalyan Sanstha Welfare Organisation againstUnion of India and Others - Implementation of DirectionsPlease refer to our circular DBOD.Dir.BC.No.43/08.12.01/2006-07@@NBSP@@dated November 17, 2006 on the captioned subject.2. It has been broug
Sep 13, 2007
Conversion of Satellite Offices into full-fledged branch - RRBs
RBI/2007-2008/136 RPCD.CO. RRB. No. BC.24 /03.05.90-A /2007-08 September 13, 2007 All Regional Rural Banks Dear Sir, Conversion of Satellite Offices into full-fledged branch - RRBs Please refer to paragraph 4 of our circular RPCD.CO.RRB.No BL.BC.09 /03.05.90-A/2007-08 dated July 2, 2007 permitting RRBs to convert their existing loss making branches into satellite offices. With a view to providing better customer service in rural areas, it has been decided to allow RRB
RBI/2007-2008/136 RPCD.CO. RRB. No. BC.24 /03.05.90-A /2007-08 September 13, 2007 All Regional Rural Banks Dear Sir, Conversion of Satellite Offices into full-fledged branch - RRBs Please refer to paragraph 4 of our circular RPCD.CO.RRB.No BL.BC.09 /03.05.90-A/2007-08 dated July 2, 2007 permitting RRBs to convert their existing loss making branches into satellite offices. With a view to providing better customer service in rural areas, it has been decided to allow RRB
Sep 12, 2007
Assignment of Lead Bank Responsibility in J&K
RBI/2007-08/ 135 RPCD.CO.LBS.BC.No. 23 /02.08.01/2007-08 September 12, 2007 The ChairmanAll Lead Banks (As per list)Dear Sir, Formation of new districts in Jammu & Kashmir State – Assignment of Lead Bank responsibility Please refer to our Circular No. RPCD.CO.LBS.No. 9578/02.08.01/2006-07 dated April 13, 2007, about the assignment of Lead Bank responsibility on temporary basis in eight newly created districts viz. Ganderbal, Bandipur, Shopian, Kulgam, Samba, Reasi
RBI/2007-08/ 135 RPCD.CO.LBS.BC.No. 23 /02.08.01/2007-08 September 12, 2007 The ChairmanAll Lead Banks (As per list)Dear Sir, Formation of new districts in Jammu & Kashmir State – Assignment of Lead Bank responsibility Please refer to our Circular No. RPCD.CO.LBS.No. 9578/02.08.01/2006-07 dated April 13, 2007, about the assignment of Lead Bank responsibility on temporary basis in eight newly created districts viz. Ganderbal, Bandipur, Shopian, Kulgam, Samba, Reasi
Sep 10, 2007
Review of Circulars issued to Public Sector Banks
RBI/2007-2008/134DBOD. No. Inf. BC.32 /11.01.009/2007-08September 10, 2007ToChairman & Managing Directorof all Public Sector BanksDear Sir,Review of circulars issued to Public Sector Banks (PSBs) In continuation of our circular letter DBOD.No.Inf.BC.48/11.01.009/2006-07 dated December 18, 2006 on the above subject, it has been decided in consultation with the Government of India to withdraw 5 more circulars, as detailed in the enclosed statement.You are advised to
RBI/2007-2008/134DBOD. No. Inf. BC.32 /11.01.009/2007-08September 10, 2007ToChairman & Managing Directorof all Public Sector BanksDear Sir,Review of circulars issued to Public Sector Banks (PSBs) In continuation of our circular letter DBOD.No.Inf.BC.48/11.01.009/2006-07 dated December 18, 2006 on the above subject, it has been decided in consultation with the Government of India to withdraw 5 more circulars, as detailed in the enclosed statement.You are advised to
Sep 07, 2007
Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - The Sangli Bank Ltd
RBI/2007-2008/132 Ref: DBOD. No. Ret.BC.31 /12.06.048 /2007-08 September 7, 2007 To All Scheduled Commercial Banks Dear Sir, Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - The Sangli Bank Ltd We advise that the name of "The Sangli Bank Ltd" has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 by notification DBOD. No. PSBD. 11188/16.01.073/2006-07 dated May 14, 2007, published in the Gazette of India (Part III
RBI/2007-2008/132 Ref: DBOD. No. Ret.BC.31 /12.06.048 /2007-08 September 7, 2007 To All Scheduled Commercial Banks Dear Sir, Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - The Sangli Bank Ltd We advise that the name of "The Sangli Bank Ltd" has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 by notification DBOD. No. PSBD. 11188/16.01.073/2006-07 dated May 14, 2007, published in the Gazette of India (Part III
Sep 04, 2007
Opening of Extension Counters by RRBs
RBI/2007-2008/131RPCD.CO. RRB. No. BC.22 /03.05.90-A /2007-08September 4, 2007All Regional Rural Banks Dear Sir,Opening of Extension Counters by RRBsPlease refer to paragraph 5 of our circular RPCD.CO.RRB. No. BL. BC.09 /03.05.90-A/2007-08 dated July 2, 2007 on the captioned subject. With a view to providing further liberalisation in the matter, it has been decided to allow RRBs to set up Extension Counters at places of worship and market places. The condition of bein
RBI/2007-2008/131RPCD.CO. RRB. No. BC.22 /03.05.90-A /2007-08September 4, 2007All Regional Rural Banks Dear Sir,Opening of Extension Counters by RRBsPlease refer to paragraph 5 of our circular RPCD.CO.RRB. No. BL. BC.09 /03.05.90-A/2007-08 dated July 2, 2007 on the captioned subject. With a view to providing further liberalisation in the matter, it has been decided to allow RRBs to set up Extension Counters at places of worship and market places. The condition of bein
Sep 04, 2007
Future approach towards monitoring of frauds in NBFCs
RBI / 2007-08/130 DNBS.PD.CC. No.106 /03.10.42/2005-06 September 4, 2007 All deposit taking NBFCs (including RNBCs) Dear Sirs, Frauds – Future approach towards monitoring of frauds in NBFCs Please refer to Company Circular 59 dated October 26, 2005 on the captioned subject. It was advised in terms of paragraph 3.1.4 thereof that FMR-1, in cases where the amount involved in fraud is Rs 25 lakhs and above shall be submitted to Fraud Monitoring Cell, DBS, CO only. It has
RBI / 2007-08/130 DNBS.PD.CC. No.106 /03.10.42/2005-06 September 4, 2007 All deposit taking NBFCs (including RNBCs) Dear Sirs, Frauds – Future approach towards monitoring of frauds in NBFCs Please refer to Company Circular 59 dated October 26, 2005 on the captioned subject. It was advised in terms of paragraph 3.1.4 thereof that FMR-1, in cases where the amount involved in fraud is Rs 25 lakhs and above shall be submitted to Fraud Monitoring Cell, DBS, CO only. It has
Sep 03, 2007
Reporting Format for Priority Sector Lending Revised
RBI/2007-2008/129 RPCD.No.Plan.BC. 21 / 04.09.01/ 2007-08 September 3, 2007The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks)]Dear Sir,Revised Guidelines on Lending to Priority Sector – Revised formats of half-yearly and yearly returns for reporting data on priority sector advancesPlease refer to our circular RPCD. No. Plan. CO. 84/04.09.01/2006-07 dated April 30, 2007 advising the revised guidelin
RBI/2007-2008/129 RPCD.No.Plan.BC. 21 / 04.09.01/ 2007-08 September 3, 2007The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks)]Dear Sir,Revised Guidelines on Lending to Priority Sector – Revised formats of half-yearly and yearly returns for reporting data on priority sector advancesPlease refer to our circular RPCD. No. Plan. CO. 84/04.09.01/2006-07 dated April 30, 2007 advising the revised guidelin
Sep 03, 2007
Branch Level Customer Service Committees
RBI/2007-2008/128 DBOD.No.Leg.BC.30 /09.07.005/2007-08 September 3, 2007 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Branch Level Customer Service Committees In terms of recommendation no. 172 of the Working Group on Customer Service in Banks (Talwar Committee), banks were advised to establish customer service committees at branch level. Further, in terms of recommendation no. 3.68 of the Committee on Customer Service in Banks (Goiporia Committee), banks
RBI/2007-2008/128 DBOD.No.Leg.BC.30 /09.07.005/2007-08 September 3, 2007 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Branch Level Customer Service Committees In terms of recommendation no. 172 of the Working Group on Customer Service in Banks (Talwar Committee), banks were advised to establish customer service committees at branch level. Further, in terms of recommendation no. 3.68 of the Committee on Customer Service in Banks (Goiporia Committee), banks
Aug 31, 2007
Advances to Sugar Industry - Holding of Buffer Stock
RBI/2007-2008/127 DBOD.BP.BC. No. 29 / 08.07.06 / 2007-08 August 31, 2007 All Scheduled Commercial Banks Dear Sirs, Advances to Sugar Industry – Holding of Buffer Stock Please refer to our circular RBI/2007–08/91 DBOD.BP.BC.No.20/08.07.06/ 2007-08 dated July 11, 2007 on the captioned subject. 2. Government of India, Ministry of Consumer Affairs, Food & Public Distribution, Department of Food & Public Distribution vide their order dated August 1, 2007(copy encl
RBI/2007-2008/127 DBOD.BP.BC. No. 29 / 08.07.06 / 2007-08 August 31, 2007 All Scheduled Commercial Banks Dear Sirs, Advances to Sugar Industry – Holding of Buffer Stock Please refer to our circular RBI/2007–08/91 DBOD.BP.BC.No.20/08.07.06/ 2007-08 dated July 11, 2007 on the captioned subject. 2. Government of India, Ministry of Consumer Affairs, Food & Public Distribution, Department of Food & Public Distribution vide their order dated August 1, 2007(copy encl
Aug 30, 2007
Settlement of PPF Claims of Subscribers who go missing
RBI/2007-2008/125DGBA.CDD.H-2281/15.02.001/2007-08August 30, 2007 ToThe Chairman and Managing Director/Managing DirectorGovernment Accounts Department, Head OfficeState Bank of India and its AssociatesAllahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra /Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / Indian Bank /Indian Overseas Bank / Punjab National Bank / Syndicate Bank /UCO Bank /Union Bank of India / United Bank of India / V
RBI/2007-2008/125DGBA.CDD.H-2281/15.02.001/2007-08August 30, 2007 ToThe Chairman and Managing Director/Managing DirectorGovernment Accounts Department, Head OfficeState Bank of India and its AssociatesAllahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra /Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / Indian Bank /Indian Overseas Bank / Punjab National Bank / Syndicate Bank /UCO Bank /Union Bank of India / United Bank of India / V
Aug 28, 2007
Banks to provide free remittance facility to Government Departments
RBI/2007-08/123 DGBA.GAD.No.H 2206 /31.03.011/2007-08August 28, 2007ToThe Chairman & Managing Director/ Managing DirectorAll Agency banksDear Sir,Remittance facility for Government transactions As per extant instructions, the remittance needs of the Government Departments are to be met by the concerned accredited agency bank free of cost. However, information collected from banks reveal that service charges are being levied by most of the agency banks for effectin
RBI/2007-08/123 DGBA.GAD.No.H 2206 /31.03.011/2007-08August 28, 2007ToThe Chairman & Managing Director/ Managing DirectorAll Agency banksDear Sir,Remittance facility for Government transactions As per extant instructions, the remittance needs of the Government Departments are to be met by the concerned accredited agency bank free of cost. However, information collected from banks reveal that service charges are being levied by most of the agency banks for effectin
Aug 23, 2007
Reporting Platform for OTC Interest Rate Derivatives
RBI/2007-2008/122 IDMD/11.08.15/809/ 2007-08August 23, 2007To All Scheduled Commercial Banks (excluding RRBs and LABs) and Primary DealersDear Sir,Reporting Platform for OTC Interest Rate Derivatives Reserve Bank’s Annual Policy Statement 2007-08 vide para 128 highlighted that it is necessary to have a mechanism for transparent capture and dissemination of trade information as well as an efficient post trade processing infrastructure for transactions in OTC interest r
RBI/2007-2008/122 IDMD/11.08.15/809/ 2007-08August 23, 2007To All Scheduled Commercial Banks (excluding RRBs and LABs) and Primary DealersDear Sir,Reporting Platform for OTC Interest Rate Derivatives Reserve Bank’s Annual Policy Statement 2007-08 vide para 128 highlighted that it is necessary to have a mechanism for transparent capture and dissemination of trade information as well as an efficient post trade processing infrastructure for transactions in OTC interest r
Aug 22, 2007
Guidelines on Lending to Priority Sector - Revised
RBI/2007-2008/121 RPCD.@@NBSP@@ No. RRB.BC. 20 /03.05.33/2007-08 August 22, 2007 The Chairman All Regional Rural Banks Dear Sir, Guidelines on Lending to Priority Sector – Revised As announced in the Reserve Bank's Annual Policy Statement for the year 2005-06, the prescriptions relating to priority sector lending have been modified and several new areas included from time to time. There is a view that enlargement of areas has resulted in loss of focus. There have also
RBI/2007-2008/121 RPCD.@@NBSP@@ No. RRB.BC. 20 /03.05.33/2007-08 August 22, 2007 The Chairman All Regional Rural Banks Dear Sir, Guidelines on Lending to Priority Sector – Revised As announced in the Reserve Bank's Annual Policy Statement for the year 2005-06, the prescriptions relating to priority sector lending have been modified and several new areas included from time to time. There is a view that enlargement of areas has resulted in loss of focus. There have also
Aug 22, 2007
Banks to Furnish Copy of Loan Agreement
RBI/2007-08/119 DBOD.No.Leg.BC. 28 /09.07.005/2007-08August 22, 2007All Scheduled Commercial Banks / All India Financial Institutions(Excluding RRBs)Dear Sir,Guidelines on Fair Practices Code for Lenders - Furnishing copy of loan agreementPlease refer to our Circular DBOD. Leg. No.BC. 104 /09.07.007/2002-03 dated May 5, 2003 wherein guidelines were issued to banks / FIs for framing the Fair Practices Code for Lenders.2. In terms of Para 2 (ii) (c) of the above Circula
RBI/2007-08/119 DBOD.No.Leg.BC. 28 /09.07.005/2007-08August 22, 2007All Scheduled Commercial Banks / All India Financial Institutions(Excluding RRBs)Dear Sir,Guidelines on Fair Practices Code for Lenders - Furnishing copy of loan agreementPlease refer to our Circular DBOD. Leg. No.BC. 104 /09.07.007/2002-03 dated May 5, 2003 wherein guidelines were issued to banks / FIs for framing the Fair Practices Code for Lenders.2. In terms of Para 2 (ii) (c) of the above Circula
Aug 22, 2007
Submission of Quarterly statement on Housing Finance disbursements - Discontinuance
RBI/2007-2008/120Ref.DBOD.Dir.(Hsg.)BC.No. 27/08.12.01/2007-08August 22, 2007Sravana 31, 1929(Saka)ToAll Scheduled Commercial BanksDear Sir,Submission of Quarterly statement on Housing Finance disbursements - DiscontinuancePlease refer to paragraph 7.2 of our Master Circular DBOD.No.DIR.(Hsg)BC.02/ 08.12.01/2007-08 dated 2nd July 2007 in terms of which banks are required to submit statement on housing finance disbursement on a quarterly basis indicating details of dis
RBI/2007-2008/120Ref.DBOD.Dir.(Hsg.)BC.No. 27/08.12.01/2007-08August 22, 2007Sravana 31, 1929(Saka)ToAll Scheduled Commercial BanksDear Sir,Submission of Quarterly statement on Housing Finance disbursements - DiscontinuancePlease refer to paragraph 7.2 of our Master Circular DBOD.No.DIR.(Hsg)BC.02/ 08.12.01/2007-08 dated 2nd July 2007 in terms of which banks are required to submit statement on housing finance disbursement on a quarterly basis indicating details of dis
Aug 13, 2007
Priority Sector Advances- Loans for Housing Purposes
RBI/2007-2008/114 RPCD.CO.No RRB.BC.19 /03.05.33/2007-08 August 13, 2007 To All Regional Rural Banks Dear Sir, Priority Sector Advances- Loans for Housing Purposes Please refer to our circular RPCD.PLNFS.BC.No.92/06.11.01/ 2002-03 dated April 29, 2003 in terms of which RRBs, with the approval of their Boards, were permitted to extend direct finance to the housing sector up to Rs.10 lakh in rural and semi-urban areas as part of priority sector lending. In order to brin
RBI/2007-2008/114 RPCD.CO.No RRB.BC.19 /03.05.33/2007-08 August 13, 2007 To All Regional Rural Banks Dear Sir, Priority Sector Advances- Loans for Housing Purposes Please refer to our circular RPCD.PLNFS.BC.No.92/06.11.01/ 2002-03 dated April 29, 2003 in terms of which RRBs, with the approval of their Boards, were permitted to extend direct finance to the housing sector up to Rs.10 lakh in rural and semi-urban areas as part of priority sector lending. In order to brin
Aug 09, 2007
Monitoring Bank Advances To Priority Sectors - Special Returns I, II and III
RBI/2007-2008/113 RPCD. Stat.BC.No.18/11.01.04/2007-08 August @@NBSP@@09,@@NBSP@@ 2007 To The Chairman/Managing Director All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir, Monitoring bank advances to priority sectors Special Returns I – Direct Finance to Agriculture and Allied activities (Outstanding as well as disbursement) as on the last reporting Friday of June(Annual) Special Return II – Recovery of agricultural advances as on the last repor
RBI/2007-2008/113 RPCD. Stat.BC.No.18/11.01.04/2007-08 August @@NBSP@@09,@@NBSP@@ 2007 To The Chairman/Managing Director All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir, Monitoring bank advances to priority sectors Special Returns I – Direct Finance to Agriculture and Allied activities (Outstanding as well as disbursement) as on the last reporting Friday of June(Annual) Special Return II – Recovery of agricultural advances as on the last repor
Aug 03, 2007
Discounting / Rediscounting of Bills by banks
RBI/2007-2008/111DBOD.BP.BC.NO.26/21.02.070/2007-08August 3, 2007ToAll Scheduled Commercial Banks(excluding RRBs/LABs)Dear Sir,Discounting / Rediscounting of Bills by banksPlease refer to our Mater Circular RBI/2006-2007/43. DBOD.No.Dir.BC.9/13.03.00/ 2007-08@@NBSP@@dated July 2, 2007 on Loans and Advances - Statutory and Other Restrictions. 2. In terms of para 3.10 (iii) of the circular, banks should purchase / discount / negotiate bills under Letter of Credit (LC) o
RBI/2007-2008/111DBOD.BP.BC.NO.26/21.02.070/2007-08August 3, 2007ToAll Scheduled Commercial Banks(excluding RRBs/LABs)Dear Sir,Discounting / Rediscounting of Bills by banksPlease refer to our Mater Circular RBI/2006-2007/43. DBOD.No.Dir.BC.9/13.03.00/ 2007-08@@NBSP@@dated July 2, 2007 on Loans and Advances - Statutory and Other Restrictions. 2. In terms of para 3.10 (iii) of the circular, banks should purchase / discount / negotiate bills under Letter of Credit (LC) o
Aug 01, 2007
Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR)
RBI/2007-2008/108RPCD.CO.RF.BC.No.15/07.02.01/2007-08August 1, 2007ToAll Scheduled State Co-operative Banks Dear Sir,Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR)Please refer to our Circular RBI/2006-2007/339 RPCD.CO.RF.BC.No.75/ 07.02.01/2006-07 dated April@@NBSP@@24, 2007 on the captioned subject. On a review of the current liquidity situation, it has been decided to increase cash reserve ratio (CRR) of Scheduled State Co-o
RBI/2007-2008/108RPCD.CO.RF.BC.No.15/07.02.01/2007-08August 1, 2007ToAll Scheduled State Co-operative Banks Dear Sir,Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR)Please refer to our Circular RBI/2006-2007/339 RPCD.CO.RF.BC.No.75/ 07.02.01/2006-07 dated April@@NBSP@@24, 2007 on the captioned subject. On a review of the current liquidity situation, it has been decided to increase cash reserve ratio (CRR) of Scheduled State Co-o
Aug 01, 2007
Section 42 (1) of Reserve Bank of India Act, 1934 - Maintenance of Cash Reserve Ratio (CRR)- Regional Rural Banks (RRBs)
RBI/2007-08/109 RPCD.CO.RRB.BC.17/ 03.05.28(B)/2007-08 August 1, 2007 To All Regional Rural Banks Dear Sir, Section 42 (1) of Reserve Bank of India Act, 1934 – Maintenance of Cash Reserve Ratio (CRR)- Regional Rural Banks (RRBs) Please refer to our circular RPCD.CO.BC.72/03.05.28(B) /2006-2007 (RBI/2006-07/341) dated April 24, 2007 on the captioned subject. On a review of the current liquidity situation, it has been decided to increase Cash Reserve Ratio (CRR) of all
RBI/2007-08/109 RPCD.CO.RRB.BC.17/ 03.05.28(B)/2007-08 August 1, 2007 To All Regional Rural Banks Dear Sir, Section 42 (1) of Reserve Bank of India Act, 1934 – Maintenance of Cash Reserve Ratio (CRR)- Regional Rural Banks (RRBs) Please refer to our circular RPCD.CO.BC.72/03.05.28(B) /2006-2007 (RBI/2006-07/341) dated April 24, 2007 on the captioned subject. On a review of the current liquidity situation, it has been decided to increase Cash Reserve Ratio (CRR) of all
Jul 31, 2007
Liquidity Adjustment Facility
RBI/2007-2008/106FMD.MOAG No.17/01.01.01/2007-08@@NBSP@@July 31, 2007ToAll Scheduled Commercial Banks (excluding RRBs) and Primary DealersDear Sir,Liquidity Adjustment Facility Please refer to paragraph 100 and 103 of the First Quarter Review of Annual Monetary Policy for the year 2007-08 and our circulars FMD. No.2/01.01.01/2005-06 dated November 25, 2005 and FMD.MOAG No.12 /01.01.01/2006-07 dated March 2, 2007.2. In view of the current macroeconomic and overall mone
RBI/2007-2008/106FMD.MOAG No.17/01.01.01/2007-08@@NBSP@@July 31, 2007ToAll Scheduled Commercial Banks (excluding RRBs) and Primary DealersDear Sir,Liquidity Adjustment Facility Please refer to paragraph 100 and 103 of the First Quarter Review of Annual Monetary Policy for the year 2007-08 and our circulars FMD. No.2/01.01.01/2005-06 dated November 25, 2005 and FMD.MOAG No.12 /01.01.01/2006-07 dated March 2, 2007.2. In view of the current macroeconomic and overall mone
Jul 31, 2007
FIMMDA Reporting Platform for Corporate Bond Transactions
RBI/2007-2008/104 IDMD. 530 /03.64.00/ 2007-08 July 31, 2007 To All Primary Dealers Dear Sir FIMMDA Reporting Platform for Corporate Bond Transactions As you are aware, the High Level Expert Committee on Corporate Bonds and Securitisation (Patil Committee) had recommended setting up of reporting platforms for corporate bonds with a view to enhance transparency and to further the development of corporate bond markets. Accordingly, BSE and NSE have set up reportin
RBI/2007-2008/104 IDMD. 530 /03.64.00/ 2007-08 July 31, 2007 To All Primary Dealers Dear Sir FIMMDA Reporting Platform for Corporate Bond Transactions As you are aware, the High Level Expert Committee on Corporate Bonds and Securitisation (Patil Committee) had recommended setting up of reporting platforms for corporate bonds with a view to enhance transparency and to further the development of corporate bond markets. Accordingly, BSE and NSE have set up reportin
Jul 31, 2007
FIMMDA Reporting Platform for Corporate Bond Transactions
RBI/2007-2008/103 DBOD.BP.BC.NO. 23/21.04.141/2007-08 July 31, 2007 To All Commercial Banks (except RRBs & LABs) and select All India Financial Institutions (NHB, NABARD,EXIM Bank, SIDBI, TFCI Ltd.,IFCI Ltd.,IIBI Ltd.) Dear Sirs, FIMMDA Reporting Platform for Corporate Bond Transactions As you are aware, the High Level Expert Committee on Corporate Bonds and Securitisation (Patil Committee) had recommended setting up of reporting platforms for corporat
RBI/2007-2008/103 DBOD.BP.BC.NO. 23/21.04.141/2007-08 July 31, 2007 To All Commercial Banks (except RRBs & LABs) and select All India Financial Institutions (NHB, NABARD,EXIM Bank, SIDBI, TFCI Ltd.,IFCI Ltd.,IIBI Ltd.) Dear Sirs, FIMMDA Reporting Platform for Corporate Bond Transactions As you are aware, the High Level Expert Committee on Corporate Bonds and Securitisation (Patil Committee) had recommended setting up of reporting platforms for corporat
Jul 31, 2007
Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR)
RBI/2007-2008/107Ref: DBOD.No. Ret.BC.25/12.01.001/2007-08July 31, 2007ToAll Scheduled Commercial Banks(excluding Regional Rural Banks)Dear Sir,Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR)Please refer to our Circular RBI/2006-2007/331 DBOD.No.Ret.BC.82/12.01.001/2006-07 dated April 20, 2007 on the captioned subject. On a review of the current liquidity situation, it has been decided to increase cash reserve ratio (CRR) of Sc
RBI/2007-2008/107Ref: DBOD.No. Ret.BC.25/12.01.001/2007-08July 31, 2007ToAll Scheduled Commercial Banks(excluding Regional Rural Banks)Dear Sir,Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR)Please refer to our Circular RBI/2006-2007/331 DBOD.No.Ret.BC.82/12.01.001/2006-07 dated April 20, 2007 on the captioned subject. On a review of the current liquidity situation, it has been decided to increase cash reserve ratio (CRR) of Sc
Jul 31, 2007
NBFCs - FIMMDA Reporting Platform for Corporate Bond Transactions
RBI/2007-2008/105DNBS.PD/ C.C. No. 96/ 03.10.001/2007-08July 31, 2007To All Non-Banking Financial Companies (NBFCs)Dear Sir,FIMMDA Reporting Platform for Corporate Bond Transactions As you are aware, the High Level Expert Committee on Corporate Bonds and Securitisation (Patil Committee) had recommended setting up of reporting platforms for corporate bonds with a view to enhance transparency and to further the development of corporate bond markets. Accordingly, BSE and
RBI/2007-2008/105DNBS.PD/ C.C. No. 96/ 03.10.001/2007-08July 31, 2007To All Non-Banking Financial Companies (NBFCs)Dear Sir,FIMMDA Reporting Platform for Corporate Bond Transactions As you are aware, the High Level Expert Committee on Corporate Bonds and Securitisation (Patil Committee) had recommended setting up of reporting platforms for corporate bonds with a view to enhance transparency and to further the development of corporate bond markets. Accordingly, BSE and
Jul 25, 2007
Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2006-07
RBI/2007-2008/101 DBS.ARS.BC. No.@@NBSP@@ 3/ 08.92.001/ 2007-08 July 25, 2007 To,The Chairman & Managing Director, all Nationalised Banks and The Managing Director, Associate Banks of SBI Dear Sir/Madam,@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@
RBI/2007-2008/101 DBS.ARS.BC. No.@@NBSP@@ 3/ 08.92.001/ 2007-08 July 25, 2007 To,The Chairman & Managing Director, all Nationalised Banks and The Managing Director, Associate Banks of SBI Dear Sir/Madam,@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@
Jul 16, 2007
Credit Flow to Minority Communities - Additional Districts
RBI/2007-2008/98RPCD.SP.BC.No.13/ 09.10.01 / 2007-08July 16, 2007The Chairman/ Managing DirectorsAll Scheduled Commercial BanksDear Sir,List of additional 18 Minority Concentrated Districts which are not included in the list of 103 Districts with substantial minority population circulated earlier. Please refer to Annex II of our Master Circular ref. RPCD.SP.BC. 12 / 09.10.01/2007-08 dated July 5, 2007 wherein we have enclosed a List of 103 Minority Concentrated Distri
RBI/2007-2008/98RPCD.SP.BC.No.13/ 09.10.01 / 2007-08July 16, 2007The Chairman/ Managing DirectorsAll Scheduled Commercial BanksDear Sir,List of additional 18 Minority Concentrated Districts which are not included in the list of 103 Districts with substantial minority population circulated earlier. Please refer to Annex II of our Master Circular ref. RPCD.SP.BC. 12 / 09.10.01/2007-08 dated July 5, 2007 wherein we have enclosed a List of 103 Minority Concentrated Distri
Jul 11, 2007
Advances to Sugar Industry - Holding of Buffer Stock
RBI/2007-2008/91 DBOD.BP.BC.No.20 / 08.07.06 / 2007-08 July 11, 2007 All Scheduled Commercial Banks Dear Sirs, Advances to Sugar Industry – Holding of Buffer Stock@@NBSP@@ Please find enclosed a copy of the notification dated April 20, 2007 issued by Government of India, Ministry of Consumer Affairs, Food & Public Distribution, Department of Food & Public Distribution on the captioned subject. 2. It may be observed therefrom that Government has decided to crea
RBI/2007-2008/91 DBOD.BP.BC.No.20 / 08.07.06 / 2007-08 July 11, 2007 All Scheduled Commercial Banks Dear Sirs, Advances to Sugar Industry – Holding of Buffer Stock@@NBSP@@ Please find enclosed a copy of the notification dated April 20, 2007 issued by Government of India, Ministry of Consumer Affairs, Food & Public Distribution, Department of Food & Public Distribution on the captioned subject. 2. It may be observed therefrom that Government has decided to crea
Jul 11, 2007
Guidelines on Corporate Governance for NBFCs
RBI/2007-2008/92DNBS.PD/ CC 104 / 03.10.042 /2007-08July 11, 2007The Chairman/CEO1. All Deposit taking NBFCs with deposit size of Rs 20 crore and above2. All non-deposit taking NBFCs with asset size of Rs 100 crore and above (NBFC-ND-SI).Dear Sir,Guidelines on Corporate Governance Please refer to our circular DNBS.PD/ C.C. 94 / 03.10.042 /2006-07 dated May 8, 2007 on the captioned subject. The Bank has received suggestions with reference to paragraph 2(vi) of the circ
RBI/2007-2008/92DNBS.PD/ CC 104 / 03.10.042 /2007-08July 11, 2007The Chairman/CEO1. All Deposit taking NBFCs with deposit size of Rs 20 crore and above2. All non-deposit taking NBFCs with asset size of Rs 100 crore and above (NBFC-ND-SI).Dear Sir,Guidelines on Corporate Governance Please refer to our circular DNBS.PD/ C.C. 94 / 03.10.042 /2006-07 dated May 8, 2007 on the captioned subject. The Bank has received suggestions with reference to paragraph 2(vi) of the circ
Jul 03, 2007
Unsolicited Commercial Communications - National Do Not Call Registry
RBI/2007-2008/78DBOD.FSD.BC. 19/24.01.011/2007-2008July 3, 2007All Commercial Banks(excluding RRBs)Dear Sir,Unsolicited Commercial Communications –- National Do Not Call Registry A reference is invited to para 7(i) of our circular No.DBOD.FSD.BC.10/24.01.011/2006-2007 dated July 1, 2006 addressed to all the Scheduled Commercial Banks/NBFCs on Credit Card operations of banks, wherein instructions have been given regarding maintenance of Do Not Call Registry by all cred
RBI/2007-2008/78DBOD.FSD.BC. 19/24.01.011/2007-2008July 3, 2007All Commercial Banks(excluding RRBs)Dear Sir,Unsolicited Commercial Communications –- National Do Not Call Registry A reference is invited to para 7(i) of our circular No.DBOD.FSD.BC.10/24.01.011/2006-2007 dated July 1, 2006 addressed to all the Scheduled Commercial Banks/NBFCs on Credit Card operations of banks, wherein instructions have been given regarding maintenance of Do Not Call Registry by all cred
Jun 28, 2007
Authorisation to open/maintain NRO/NRE Accounts in rupees and to accept FCNR deposits
RBI/2006-2007/445RPCD.CO.RRB.No.BC..106 /03.05.33(C)/2006-07June 28, 2007All Regional Rural Banks Dear Sir, Authorisation to open/maintain NRO/NRE Accounts in rupees and to accept FCNR deposits Please refer to our circular RPCD.RRB.No.BC.89/03.05.33(C)/99-2000 dated April 28, 2000 on authorisation to RRBs to open and maintain non-resident accounts in rupees.2. As announced in the Union Budget for 2007-08, it has been decided to permit RRBs to accept FCNR (B) deposits.
RBI/2006-2007/445RPCD.CO.RRB.No.BC..106 /03.05.33(C)/2006-07June 28, 2007All Regional Rural Banks Dear Sir, Authorisation to open/maintain NRO/NRE Accounts in rupees and to accept FCNR deposits Please refer to our circular RPCD.RRB.No.BC.89/03.05.33(C)/99-2000 dated April 28, 2000 on authorisation to RRBs to open and maintain non-resident accounts in rupees.2. As announced in the Union Budget for 2007-08, it has been decided to permit RRBs to accept FCNR (B) deposits.
Jun 28, 2007
Pension Funds Management by banks
RBI/2006-2007/446 DBOD.No.FSD.BC.102/24.01.022/2006-07June 28, 2007All Scheduled Commercial Banks (except RRBs)Dear SirPension Funds Management by banksIn exercise of the powers conferred by clause (o) of sub-section (1) of Section 6 of the Banking Regulation Act, 1949, Government of India have issued a Notification F.No.13/6/2005-BOA dated May 24, 2007 specifying 'acting as Pension Fund Manager' as a form of business in which it would be lawful for a banking company
RBI/2006-2007/446 DBOD.No.FSD.BC.102/24.01.022/2006-07June 28, 2007All Scheduled Commercial Banks (except RRBs)Dear SirPension Funds Management by banksIn exercise of the powers conferred by clause (o) of sub-section (1) of Section 6 of the Banking Regulation Act, 1949, Government of India have issued a Notification F.No.13/6/2005-BOA dated May 24, 2007 specifying 'acting as Pension Fund Manager' as a form of business in which it would be lawful for a banking company
Jun 26, 2007
Guidelines on Stress Testing
RBI / 2006-07/ 444DBOD. No. BP. BC.101 / 21.04.103/ 2006-07June 26, 2007The Chairman/ Chief Executive OfficerAll Commercial Banks(excluding RRBs & LABs)Dear Sir,Guidelines on Stress TestingImprovement in risk management practices has been in focus since the introduction of the financial sector liberalization process in the mid nineties. The process gained momentum with the issue of regulatory guidelines and guidance notes on asset liability management and manageme
RBI / 2006-07/ 444DBOD. No. BP. BC.101 / 21.04.103/ 2006-07June 26, 2007The Chairman/ Chief Executive OfficerAll Commercial Banks(excluding RRBs & LABs)Dear Sir,Guidelines on Stress TestingImprovement in risk management practices has been in focus since the introduction of the financial sector liberalization process in the mid nineties. The process gained momentum with the issue of regulatory guidelines and guidance notes on asset liability management and manageme
Jun 22, 2007
RRBs - Branch Licensing - Revised Instructions
RBI/2006-2007/443 RPCD.CO. RRB. No. BC. 105@@NBSP@@ /03.05.90-A /2006-07 June 22, 2007 All Regional Rural Banks Dear Sir, Section 23 of Banking Regulation Act, 1949-Master Circular on Branch Licensing - RRBs Please refer to our circular RPCD.CO.RRB.No BL.BC. 11 / 03. 05.90-A /2006-07 dated July 11, 2006 on on the captioned subject. 2. With a view to providing further liberalisation, it has been decided that RRBs may be allowed to set up Service Branches / Central Proc
RBI/2006-2007/443 RPCD.CO. RRB. No. BC. 105@@NBSP@@ /03.05.90-A /2006-07 June 22, 2007 All Regional Rural Banks Dear Sir, Section 23 of Banking Regulation Act, 1949-Master Circular on Branch Licensing - RRBs Please refer to our circular RPCD.CO.RRB.No BL.BC. 11 / 03. 05.90-A /2006-07 dated July 11, 2006 on on the captioned subject. 2. With a view to providing further liberalisation, it has been decided that RRBs may be allowed to set up Service Branches / Central Proc
Jun 20, 2007
Microfinance - Submission of progress reports
RBI/2006-2007/441 RPCD.CO.MFFI.BC.No. 103 /12.01.01/2006-07 June 20, 2007 The Chairman/Managing Director Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Microfinance - Submission of progress reports In terms of our circular RPCD.No.PL.62/04.09.01/99-2000 dated February 18, 2000 and paragraph 2(i) of Master Circular on Micro Credit RPCD.No.Plan. BC.05/04.09.22/2006-07 dated July 3, 2006, banks have been submitting progress reports unde
RBI/2006-2007/441 RPCD.CO.MFFI.BC.No. 103 /12.01.01/2006-07 June 20, 2007 The Chairman/Managing Director Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Microfinance - Submission of progress reports In terms of our circular RPCD.No.PL.62/04.09.01/99-2000 dated February 18, 2000 and paragraph 2(i) of Master Circular on Micro Credit RPCD.No.Plan. BC.05/04.09.22/2006-07 dated July 3, 2006, banks have been submitting progress reports unde
Jun 19, 2007
RRBs - Participation in consortium lending
RBI/2006-2007/440RPCD.CO No.RRB.BC.104/03.05.34/2006-07June 19, 2007 The ChairmenAll Regional Rural Banks Dear Sir,RRBs - Participation in consortium lendingWith a view to providing more business avenues and opportunities to RRBs for lending, it has been decided to permit them to participate in consortium lending, within the extant exposure limits, with their sponsor banks as also with other public sector banks and developmental financial institutions (DFIs), subject
RBI/2006-2007/440RPCD.CO No.RRB.BC.104/03.05.34/2006-07June 19, 2007 The ChairmenAll Regional Rural Banks Dear Sir,RRBs - Participation in consortium lendingWith a view to providing more business avenues and opportunities to RRBs for lending, it has been decided to permit them to participate in consortium lending, within the extant exposure limits, with their sponsor banks as also with other public sector banks and developmental financial institutions (DFIs), subject
Jun 15, 2007
RRBs - Branch Licensing - Revised Instructions
RBI/2006-2007/438RPCD.CO.RRB.No.BC.102/03.05.90-A/2006-07June 15, 2007All Regional Rural Banks Dear Sir, Section 23 of the Banking Regulation Act, 1949 – Master Circular on Branch Licensing - Regional Rural Banks (RRBs)Please refer to our circular RPCD.CO.RRB.No.BL.BC/11/03.05.90-A/2006-07 dated July 11, 2006 on the above subject.2. With a view to encouraging RRBs to open branches in hitherto uncovered districts, it has been decided that the compliance with conditions
RBI/2006-2007/438RPCD.CO.RRB.No.BC.102/03.05.90-A/2006-07June 15, 2007All Regional Rural Banks Dear Sir, Section 23 of the Banking Regulation Act, 1949 – Master Circular on Branch Licensing - Regional Rural Banks (RRBs)Please refer to our circular RPCD.CO.RRB.No.BL.BC/11/03.05.90-A/2006-07 dated July 11, 2006 on the above subject.2. With a view to encouraging RRBs to open branches in hitherto uncovered districts, it has been decided that the compliance with conditions
Jun 13, 2007
Revision of Differential Rate of Interest Scheme.
RBI/2006-2007/436RPCD. SP. BC. No 101 / 09. 07. 01/ 2006-07June13, 2007The Chairman / Managing DirectorsIndian Scheduled Commercial Banks (Excluding RRBs)Dear Sir,Revision of Differential Rate of Interest Scheme.As you are aware, Government of India had formulated in March, 1972 a scheme for extending financial assistance at concessional rate of interest @ 4% to selected low income groups for productive endeavours initially by public sector banks and then by private s
RBI/2006-2007/436RPCD. SP. BC. No 101 / 09. 07. 01/ 2006-07June13, 2007The Chairman / Managing DirectorsIndian Scheduled Commercial Banks (Excluding RRBs)Dear Sir,Revision of Differential Rate of Interest Scheme.As you are aware, Government of India had formulated in March, 1972 a scheme for extending financial assistance at concessional rate of interest @ 4% to selected low income groups for productive endeavours initially by public sector banks and then by private s
Jun 08, 2007
Senior Citizens Savings Scheme, 2004-Opening of multiple account in a calendar month in the same deposit office
RBI/2006-2007/431DGBA.CDD.H-17465/15.15.001/2006-07June 8, 2007The General ManagerGovernment Accounts Department, Head OfficeState Bank of India / State Bank of Indore / State Bank of PatialaState Bank of Bikaner & Jaipur / State Bank of SaurashtraState Bank of Travancore / State Bank of Hyderabad / State Bank of MysoreAllahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra/Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / Indian B
RBI/2006-2007/431DGBA.CDD.H-17465/15.15.001/2006-07June 8, 2007The General ManagerGovernment Accounts Department, Head OfficeState Bank of India / State Bank of Indore / State Bank of PatialaState Bank of Bikaner & Jaipur / State Bank of SaurashtraState Bank of Travancore / State Bank of Hyderabad / State Bank of MysoreAllahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra/Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / Indian B
Jun 06, 2007
Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2006-07
RBI/2006-2007/429DBS.ARS.No.BC. 08 / 08.92.001/ 2006-07June 6, 2007CONFIDENTIALThe Chairman & Managing Director, all Nationalised Banks andThe Managing Director, Associate Banks of SBIDear Sir, Remuneration payable to the Statutory Central andBranch Auditors of Public Sector Banks from the year 2006-07Please refer to our instructions on the captioned subject, contained in our circular DBS.ARS.No.BC.7 / 08.92.001/ 2003-04 dated March 17, 2004. It has been decided t
RBI/2006-2007/429DBS.ARS.No.BC. 08 / 08.92.001/ 2006-07June 6, 2007CONFIDENTIALThe Chairman & Managing Director, all Nationalised Banks andThe Managing Director, Associate Banks of SBIDear Sir, Remuneration payable to the Statutory Central andBranch Auditors of Public Sector Banks from the year 2006-07Please refer to our instructions on the captioned subject, contained in our circular DBS.ARS.No.BC.7 / 08.92.001/ 2003-04 dated March 17, 2004. It has been decided t
May 31, 2007
Income Tax Act, 1961 - Section 193 - 8 % Savings (Taxable) Bonds, 2003 - TDS
RBI/2006-2007/424 Ref DGBA.CDD No H- 17134 / 13.01.299 / 2006 - 07May 31, 2007Jyeshtha 10, 1929 (Saka)The General ManagerState Bank of India and Associate Banksand 17 Nationalised BanksThe Managing DirectorICICI Bank Ltd / IDBI Bank Ltd / HDFC Bank Ltd / UTI Bank Ltd and SHCILDear Sir,Income Tax Act, 1961 - Section 193 - 8 % Savings (Taxable) Bonds, 2003 - TDS In terms of proviso to clause (iv) of Proviso to Section 193 of the Income Tax Act, 1961 (as inserted vide Fi
RBI/2006-2007/424 Ref DGBA.CDD No H- 17134 / 13.01.299 / 2006 - 07May 31, 2007Jyeshtha 10, 1929 (Saka)The General ManagerState Bank of India and Associate Banksand 17 Nationalised BanksThe Managing DirectorICICI Bank Ltd / IDBI Bank Ltd / HDFC Bank Ltd / UTI Bank Ltd and SHCILDear Sir,Income Tax Act, 1961 - Section 193 - 8 % Savings (Taxable) Bonds, 2003 - TDS In terms of proviso to clause (iv) of Proviso to Section 193 of the Income Tax Act, 1961 (as inserted vide Fi
May 29, 2007
PMRY Guidelines Revised
RBI/2006-2007/421RPCD.PLNFS.BC.No.100/ 09.04.01/2006–2007May 29, 2007 The Chairman / Managing DirectorAll Indian Scheduled Commercial Banks(Excluding RRBs)Dear Sir,Target under the Prime Minister Rozgar Yojana (PMRY) for the year 2007-2008 We advise that Government of India have allocated a target of 3,75,690 to States/UTs as per `Annexure A', under PMRY for the year 2007 – 2008. 2. The targets have been worked out on the basis of the final performance report for the
RBI/2006-2007/421RPCD.PLNFS.BC.No.100/ 09.04.01/2006–2007May 29, 2007 The Chairman / Managing DirectorAll Indian Scheduled Commercial Banks(Excluding RRBs)Dear Sir,Target under the Prime Minister Rozgar Yojana (PMRY) for the year 2007-2008 We advise that Government of India have allocated a target of 3,75,690 to States/UTs as per `Annexure A', under PMRY for the year 2007 – 2008. 2. The targets have been worked out on the basis of the final performance report for the
May 28, 2007
Guidelines on declaration of Net Asset Value of Security Receipts issued by Securitisation Company/ Reconstruction Company
RBI/2006-2007/420 DNBS (PD) CC. No. 6 / SCRC / 10.30.049/ 2006-2007 May 28, 2007 All registered Securitisation Companies/Reconstruction Companies Dear Sir, Guidelines on declaration of Net Asset Value of Security Receipts issued by Securitisation Company/ Reconstruction Company In order to enable the Qualified Institutional Buyers to know the value of their investment in the Security Receipts issued by the Securitisation Company/Reconstruction Company, it has been dec
RBI/2006-2007/420 DNBS (PD) CC. No. 6 / SCRC / 10.30.049/ 2006-2007 May 28, 2007 All registered Securitisation Companies/Reconstruction Companies Dear Sir, Guidelines on declaration of Net Asset Value of Security Receipts issued by Securitisation Company/ Reconstruction Company In order to enable the Qualified Institutional Buyers to know the value of their investment in the Security Receipts issued by the Securitisation Company/Reconstruction Company, it has been dec
May 25, 2007
CSGL Option on NDS - Order Matching
RBI/2006-2007/417IDMD.DOD.No.5341/10.25.66/ 2006-07May 25, 2007All SGL/CSGL Account holdersCSGL Option on NDS – Order MatchingDear Sirs,The Order Matching segment on NDS (NDS-OM) was launched in August 2005. Access to the same was initially extended to Banks and Primary Dealers and later to other NDS members, Insurance Companies, Mutual Funds and bigger Provident Funds for their proprietary deals.2. To widen the reach of NDS-OM, access is now extended to qualified ent
RBI/2006-2007/417IDMD.DOD.No.5341/10.25.66/ 2006-07May 25, 2007All SGL/CSGL Account holdersCSGL Option on NDS – Order MatchingDear Sirs,The Order Matching segment on NDS (NDS-OM) was launched in August 2005. Access to the same was initially extended to Banks and Primary Dealers and later to other NDS members, Insurance Companies, Mutual Funds and bigger Provident Funds for their proprietary deals.2. To widen the reach of NDS-OM, access is now extended to qualified ent
May 25, 2007
Relaxation to trade and industry in the State of Jammu and Kashmir
RBI/2006-2007/416DBOD. No. BP. BC.100 /21.04.012/2006-07May 25, 2007The Chairmen of all ScheduledCommercial Banks (excluding RRBs)Dear Sir,Relaxation to trade and industry in the State of Jammu and KashmirPlease refer to our circular DBOD.No.BP.BC.69/21.04.012/2005-2006 dated 16th March 2006 extending the period of concessions/credit relaxations to borrowers / customers in Jammu and Kashmir up to 31 March 2007. It has been decided that the concessions/credit relaxatio
RBI/2006-2007/416DBOD. No. BP. BC.100 /21.04.012/2006-07May 25, 2007The Chairmen of all ScheduledCommercial Banks (excluding RRBs)Dear Sir,Relaxation to trade and industry in the State of Jammu and KashmirPlease refer to our circular DBOD.No.BP.BC.69/21.04.012/2005-2006 dated 16th March 2006 extending the period of concessions/credit relaxations to borrowers / customers in Jammu and Kashmir up to 31 March 2007. It has been decided that the concessions/credit relaxatio
May 24, 2007
Doorstep Banking
RBI/2006-2007/412DBOD.No.BL.BC. 99 /22.01.010/2006-2007May 24, 2007Jyeshtha 03, 1929 SakaAll Scheduled Commercial Banks(excluding RRBs)Dear Sir Section 23 of the Banking Regulation Act, 1949 – Doorstep BankingPlease refer to our circular No.DBOD.BL.BC.59/22.01.010/2006-2007 dated February 21, 2007 on the above subject.2. Taking into account the suggestions received from Indian Banks’ Association as also some of the banks, the matter was reviewed and it has been decide
RBI/2006-2007/412DBOD.No.BL.BC. 99 /22.01.010/2006-2007May 24, 2007Jyeshtha 03, 1929 SakaAll Scheduled Commercial Banks(excluding RRBs)Dear Sir Section 23 of the Banking Regulation Act, 1949 – Doorstep BankingPlease refer to our circular No.DBOD.BL.BC.59/22.01.010/2006-2007 dated February 21, 2007 on the above subject.2. Taking into account the suggestions received from Indian Banks’ Association as also some of the banks, the matter was reviewed and it has been decide
May 24, 2007
Amendments to the Banking Ombudsman Scheme, 2006
CSD.BOS. 4638 /13.01.01/2006-07May 24, 2007@@NBSP@@In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 (10 of 1949) and in partial modification of its Notification Ref. RPCD.BOS.No.441/13.01.01/2005-06 dated December 26, 2005, the Reserve Bank of India hereby amends the Banking Ombudsman Scheme, 2006 to the extent specified in the Annex hereto. These amendments shall come into force with immediate effect. The Reserve Bank hereby dire
CSD.BOS. 4638 /13.01.01/2006-07May 24, 2007@@NBSP@@In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 (10 of 1949) and in partial modification of its Notification Ref. RPCD.BOS.No.441/13.01.01/2005-06 dated December 26, 2005, the Reserve Bank of India hereby amends the Banking Ombudsman Scheme, 2006 to the extent specified in the Annex hereto. These amendments shall come into force with immediate effect. The Reserve Bank hereby dire
May 24, 2007
Complaints about excessive interest charged by NBFCs
RBI/2006-2007/414DNBS.PD/ CC.No. 95 /03.05.002 /2006-07May 24, 2007To,All Non-Banking Financial Companies (NBFCs)Including Residuary Non- Banking Companies (RNBCs)Dear Sir,Complaints about excessive interest charged by NBFCsThe Reserve Bank has been receiving several complaints regarding levying of excessive interest and charges on certain loans and advances by NBFCs.2. Though interest rates are not regulated by the Bank, rates of interest beyond a certain level may b
RBI/2006-2007/414DNBS.PD/ CC.No. 95 /03.05.002 /2006-07May 24, 2007To,All Non-Banking Financial Companies (NBFCs)Including Residuary Non- Banking Companies (RNBCs)Dear Sir,Complaints about excessive interest charged by NBFCsThe Reserve Bank has been receiving several complaints regarding levying of excessive interest and charges on certain loans and advances by NBFCs.2. Though interest rates are not regulated by the Bank, rates of interest beyond a certain level may b
May 23, 2007
Interest on Delayed Remittances and Excess/Double Reimbursement
RBI/2006-2007/410DGBA.GAD.No.H. 16665 /42.01.011/2006-07May 23, 2007The Chairman/Managing DirectorState Bank of India & its AssociatesAll Nationalised BanksJammu & Kashmir Bank Ltd.IDBI Ltd/HDFC Bank Ltd.ICICI Bank Ltd. /UTI Bank Ltd.Dear SirMaintenance of Government Accounts -Interest on Delayed Remittances andExcess/Double Reimbursement Please refer to our Circular No.RBI/2006/169 (DGBA.GAD.No.H.7377/42.01.011/2006-07) dated November 7, 2006 on the above sub
RBI/2006-2007/410DGBA.GAD.No.H. 16665 /42.01.011/2006-07May 23, 2007The Chairman/Managing DirectorState Bank of India & its AssociatesAll Nationalised BanksJammu & Kashmir Bank Ltd.IDBI Ltd/HDFC Bank Ltd.ICICI Bank Ltd. /UTI Bank Ltd.Dear SirMaintenance of Government Accounts -Interest on Delayed Remittances andExcess/Double Reimbursement Please refer to our Circular No.RBI/2006/169 (DGBA.GAD.No.H.7377/42.01.011/2006-07) dated November 7, 2006 on the above sub
May 21, 2007
RRBs - IT enabled Financial Inclusion
RBI/2006-2007/406RPCD. CO. RRB. BC. No.97 /03.05.33(F)/2006-07May 21, 2007The ChairmenAll Regional Rural BanksDear Sir,Annual Policy Statement for the year 2007- 08 –IT-enabled Financial InclusionPlease refer to the paragraph 163 of the Annual Policy Statement for the year 2007-08, a copy of which is enclosed.2. As per our Circular RPCD.CO.No.RRB.BC.58/03.05.33(F)/2005-06 dated December 27, 2005 the RRBs have made available a basic banking 'no-frills' account so as to
RBI/2006-2007/406RPCD. CO. RRB. BC. No.97 /03.05.33(F)/2006-07May 21, 2007The ChairmenAll Regional Rural BanksDear Sir,Annual Policy Statement for the year 2007- 08 –IT-enabled Financial InclusionPlease refer to the paragraph 163 of the Annual Policy Statement for the year 2007-08, a copy of which is enclosed.2. As per our Circular RPCD.CO.No.RRB.BC.58/03.05.33(F)/2005-06 dated December 27, 2005 the RRBs have made available a basic banking 'no-frills' account so as to
May 21, 2007
RRBs - Wire Transfers
RBI/2006-2007/407 RPCD.CO.RRB.AML.BC. No.98 /03.05.28-A/2006-07May 21, 2007The ChairmenAll Regional Rural BanksDear Sir,Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT) – Wire Transfers- Regional Rural Banks (RRBs) Banks use wire transfers as an expeditious method for transferring funds between bank accounts. Wire transfers include transactions occurring within the national boundaries of a country or fr
RBI/2006-2007/407 RPCD.CO.RRB.AML.BC. No.98 /03.05.28-A/2006-07May 21, 2007The ChairmenAll Regional Rural BanksDear Sir,Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT) – Wire Transfers- Regional Rural Banks (RRBs) Banks use wire transfers as an expeditious method for transferring funds between bank accounts. Wire transfers include transactions occurring within the national boundaries of a country or fr
May 21, 2007
Agency Commission - PPF/SCSS
RBI/2006-07/408DGBA.CDD. H - 16532/15.15.001/2006-07May 21, 2007The General ManagerGovernment Accounts Department, Head OfficeState Bank of India / State Bank of Indore / State Bank of PatialaState Bank of Bikaner & Jaipur / State Bank of SaurashtraState Bank of Travancore / State Bank of Hyderabad / State Bank of MysoreAllahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra/Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / Indian
RBI/2006-07/408DGBA.CDD. H - 16532/15.15.001/2006-07May 21, 2007The General ManagerGovernment Accounts Department, Head OfficeState Bank of India / State Bank of Indore / State Bank of PatialaState Bank of Bikaner & Jaipur / State Bank of SaurashtraState Bank of Travancore / State Bank of Hyderabad / State Bank of MysoreAllahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra/Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / Indian
May 18, 2007
StCBs/DCCBs - IT-enabled Financial Inclusion
RBI/2006-2007/398RPCD.CO.RF.BC.No.94/07.38.01/2006-07May 18, 2007@@NBSP@@The Chairman / Chief Executive Officer/Managing DirectorAll State Co-operative Banks (StCBs) andDistrict Central Co-operative Banks (DCCBs)Dear Sir,Annual Policy Statement for the year 2007- 08 –IT-enabled Financial Inclusion Please refer to the paragraph 163 of the Annual Policy Statement for the year 2007-08, a copy of which is enclosed. 2. As per our Circular RPCD.RF.BC.54/07.38.01/2005-06 dat
RBI/2006-2007/398RPCD.CO.RF.BC.No.94/07.38.01/2006-07May 18, 2007@@NBSP@@The Chairman / Chief Executive Officer/Managing DirectorAll State Co-operative Banks (StCBs) andDistrict Central Co-operative Banks (DCCBs)Dear Sir,Annual Policy Statement for the year 2007- 08 –IT-enabled Financial Inclusion Please refer to the paragraph 163 of the Annual Policy Statement for the year 2007-08, a copy of which is enclosed. 2. As per our Circular RPCD.RF.BC.54/07.38.01/2005-06 dat
May 18, 2007
StCBs/DCCBs - Safe Deposit Locker/Safe Custody Article Facility and Access to Safe Deposit Lockers/Return of Safe Custody Articles
RBI/2006-2007/400 RPCD.CO.RF.BC No. 95/07.38.01/2006-07 May 18, 2007All State and Central Co-operative Banks Dear Sir,Extension of Safe Deposit Locker / Safe Custody Article Facility and Access to Safe Deposit Lockers / Return of Safe Custody Articles by banks. The Committee on Procedures and Performance Audit on Public Services (CPPAPS) had made some recommendations for easy operation of lockers. We have reviewed all the guidelines issued by us on various issues rela
RBI/2006-2007/400 RPCD.CO.RF.BC No. 95/07.38.01/2006-07 May 18, 2007All State and Central Co-operative Banks Dear Sir,Extension of Safe Deposit Locker / Safe Custody Article Facility and Access to Safe Deposit Lockers / Return of Safe Custody Articles by banks. The Committee on Procedures and Performance Audit on Public Services (CPPAPS) had made some recommendations for easy operation of lockers. We have reviewed all the guidelines issued by us on various issues rela
May 18, 2007
Revised Guidelines On Lending To Priority Sector - Weaker Sections
RBI/2006-2007/405 RPCD. No. Plan. BC. 10856 /04.09.01/ 2006-07May 18, 2007The Chairman/ Managing Director/ Chief Executive Officer[All scheduled commercial banks(excluding Regional Rural Banks)]Dear Sir,Revised Guidelines On Lending To Priority Sector – Weaker SectionsKindly refer to Section I, paragraph 8 of our circular RPCD. No. Plan. BC. 84 /04.09.01/2006-07 dated April 30, 2007 on revised guidelines on lending to priority sector. In partial modification thereof,
RBI/2006-2007/405 RPCD. No. Plan. BC. 10856 /04.09.01/ 2006-07May 18, 2007The Chairman/ Managing Director/ Chief Executive Officer[All scheduled commercial banks(excluding Regional Rural Banks)]Dear Sir,Revised Guidelines On Lending To Priority Sector – Weaker SectionsKindly refer to Section I, paragraph 8 of our circular RPCD. No. Plan. BC. 84 /04.09.01/2006-07 dated April 30, 2007 on revised guidelines on lending to priority sector. In partial modification thereof,
May 18, 2007
STCBs/DCCBs - Wire Transfers
RBI/2006-2007/399 RPCD.CO.RF.AML.BC. No.96/07.40.00/2006-07May 18, 2007The Chief Executives,All State and District Central Co-operative BanksDear Sir,Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT) – Wire Transfers Banks use wire transfers as an expeditious method for transferring funds between bank accounts. Wire transfers include transactions occurring within the national boundaries of a country or f
RBI/2006-2007/399 RPCD.CO.RF.AML.BC. No.96/07.40.00/2006-07May 18, 2007The Chief Executives,All State and District Central Co-operative BanksDear Sir,Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT) – Wire Transfers Banks use wire transfers as an expeditious method for transferring funds between bank accounts. Wire transfers include transactions occurring within the national boundaries of a country or f
May 17, 2007
Exclusion Of Bharat Overseas Bank Ltd
RBI/2006-2007/397DBOD.BP.BC.No. 98 /21.01.002/2006-07May 17, 2007Exclusion Of Bharat Overseas Bank Ltd In pursuance of clause (b) of sub section (6) of Section 42 of Reserve Bank of India Act 1934 (2 of 1934), the Reserve Bank of India hereby directs exclusion with effect from April 1, 2007 from the Second Schedule to the said Act of the following bank, namely:'The Bharat Overseas Bank Ltd'Anand SinhaExecutive Director
RBI/2006-2007/397DBOD.BP.BC.No. 98 /21.01.002/2006-07May 17, 2007Exclusion Of Bharat Overseas Bank Ltd In pursuance of clause (b) of sub section (6) of Section 42 of Reserve Bank of India Act 1934 (2 of 1934), the Reserve Bank of India hereby directs exclusion with effect from April 1, 2007 from the Second Schedule to the said Act of the following bank, namely:'The Bharat Overseas Bank Ltd'Anand SinhaExecutive Director
May 16, 2007
StCBs/DCCBs - Complaints about Excessive Interest Charged by Banks
RBI/2006-2007/395RPCD.CO.RF.BC.No.93/07.38.01/2006-07May 16, 2007@@NBSP@@The Chairman / Chief Executive Officer/Managing Director,All State Co-operative Banks (StCBs) andDistrict Central Co-operative Banks (DCCBs)Dear Sir,Annual Policy Statement for the year 2007- 08 –Complaints about excessive interest charged by banks Please refer to the paragraph 168 of the Annual Policy Statement for the year 2007-08 (a copy of the extract enclosed).2. The Reserve Bank of India ha
RBI/2006-2007/395RPCD.CO.RF.BC.No.93/07.38.01/2006-07May 16, 2007@@NBSP@@The Chairman / Chief Executive Officer/Managing Director,All State Co-operative Banks (StCBs) andDistrict Central Co-operative Banks (DCCBs)Dear Sir,Annual Policy Statement for the year 2007- 08 –Complaints about excessive interest charged by banks Please refer to the paragraph 168 of the Annual Policy Statement for the year 2007-08 (a copy of the extract enclosed).2. The Reserve Bank of India ha
May 16, 2007
Guidelines on purchase / sale of Non Performing Assets
RBI/2006-2007/396 DBOD. No. BP. BC.97/21.04.048/2006-07May16, 2007All Commercial Banks (excluding RRBs) All India Term Lending and Refinancing Institutions All Non Banking Financial Companies (including RNBCs)Dear Sir,Guidelines on purchase / sale of Non Performing AssetsPlease refer to our Circular No. DBOD.BP.BC.16/21.04.048/2005-06 dated 13 July 2005 on the captioned subject. In terms of Para 5(iii) of the circular, the banks were advised that the estimated cash fl
RBI/2006-2007/396 DBOD. No. BP. BC.97/21.04.048/2006-07May16, 2007All Commercial Banks (excluding RRBs) All India Term Lending and Refinancing Institutions All Non Banking Financial Companies (including RNBCs)Dear Sir,Guidelines on purchase / sale of Non Performing AssetsPlease refer to our Circular No. DBOD.BP.BC.16/21.04.048/2005-06 dated 13 July 2005 on the captioned subject. In terms of Para 5(iii) of the circular, the banks were advised that the estimated cash fl
May 15, 2007
Complaints about excessive interest charged by banks - (RRBs)
RBI/2006-2007/394RPCD.CO. RRB. BC. No. 92/03.05.28-B /2006-07May 15, 2007All Regional Rural BanksDear SirComplaints about excessive interest charged by banks- Regional Rural Banks (RRBs)Please refer to paragraph 168 of the Annual Policy Statement for the year 2007-08 (copy enclosed).2. The Reserve Bank and Banking Ombudsmans' offices have been receiving several complaints regarding levying of excessive interest and charges on certain loans and advances. In this connec
RBI/2006-2007/394RPCD.CO. RRB. BC. No. 92/03.05.28-B /2006-07May 15, 2007All Regional Rural BanksDear SirComplaints about excessive interest charged by banks- Regional Rural Banks (RRBs)Please refer to paragraph 168 of the Annual Policy Statement for the year 2007-08 (copy enclosed).2. The Reserve Bank and Banking Ombudsmans' offices have been receiving several complaints regarding levying of excessive interest and charges on certain loans and advances. In this connec
May 14, 2007
RBI asks RRBs not to deal with 918 defaulted companies following Patna High Court Order
RBI/2006-2007/393RPCD. CO. RRB. BC. No. 91 / 03.05. 33/2006-07May 14, 2007 The ChairmenAll Regional Rural BanksDear SirIn the High Court of Judicature at Patna – CWJC No.13422 of 2006 – Council for the Protection of Public Rights and Welfare vs. Union of India and Others – Regarding We advise that the Hon'ble Patna High Court vide its order dated April 10, 2007 in the captioned matter has directed the Reserve Bank of India to direct all the banks that the companies li
RBI/2006-2007/393RPCD. CO. RRB. BC. No. 91 / 03.05. 33/2006-07May 14, 2007 The ChairmenAll Regional Rural BanksDear SirIn the High Court of Judicature at Patna – CWJC No.13422 of 2006 – Council for the Protection of Public Rights and Welfare vs. Union of India and Others – Regarding We advise that the Hon'ble Patna High Court vide its order dated April 10, 2007 in the captioned matter has directed the Reserve Bank of India to direct all the banks that the companies li
May 10, 2007
Interest Subvention Scheme for Short Term Crop Loans extended
RBI/2006-2007/391RPCD.No.PLFS.BC. 90/05.04.02/2006-07May 10, 2007The Chairman/Managing DirectorAll Public Sector Banks Dear Sir,Union Budget – 2007-08 – Proposal for continuation of 2 per cent interest subvention scheme for short-term crop loans in 2007-08 As you are aware, the Hon’ble Finance Minister, in his Budget Speech (paragraph 46) for 2007-08 had announced as follows:" The two percent interest subvention scheme for short-term crop loans will continue in 2
RBI/2006-2007/391RPCD.No.PLFS.BC. 90/05.04.02/2006-07May 10, 2007The Chairman/Managing DirectorAll Public Sector Banks Dear Sir,Union Budget – 2007-08 – Proposal for continuation of 2 per cent interest subvention scheme for short-term crop loans in 2007-08 As you are aware, the Hon’ble Finance Minister, in his Budget Speech (paragraph 46) for 2007-08 had announced as follows:" The two percent interest subvention scheme for short-term crop loans will continue in 2
May 10, 2007
RRBs - Refusal to accept Small denomination Notes/Coins
RBI/2006-2007/390RPCD.CO. RRB.BC.No. 89 /03.05.28-B /2006-07May 10, 2007The ChairmenAll Regional Rural BanksDear SirAcceptance of Small Denomination Notes and CoinsA case involving refusal by a bank to accept demand draft involving fraction of a rupee came up before the Honourable High Court of Gujarat, Ahmedabad. The High Court of Gujarat, taking a serious view of the matter, has directed that appropriate steps may be taken in the matter as also regarding non-accepta
RBI/2006-2007/390RPCD.CO. RRB.BC.No. 89 /03.05.28-B /2006-07May 10, 2007The ChairmenAll Regional Rural BanksDear SirAcceptance of Small Denomination Notes and CoinsA case involving refusal by a bank to accept demand draft involving fraction of a rupee came up before the Honourable High Court of Gujarat, Ahmedabad. The High Court of Gujarat, taking a serious view of the matter, has directed that appropriate steps may be taken in the matter as also regarding non-accepta
May 10, 2007
Extension of Credit Facilities to Overseas Step-down Subsidiaries of Indian Companies
RBI/2006-2007/389 DBOD.IBD.BC.No 96/23.37.001/2006-07 May 10,@@NBSP@@2007 All Scheduled Commercial Banks (Excluding RRBs and LABs) Dear Sir, Annual Policy Statement for the year 2007-08 - Extension of Credit Facilities to Overseas Step-down Subsidiaries of Indian Corporates Please@@NBSP@@ refer@@NBSP@@ to@@NBSP@@ our@@NBSP@@ circular DBOD. IBD. BC. No.41/ 23.37.001/ 2006-07@@NBSP@@dated November 6, 2006 in terms of which the prudential limit on funded / non-funded cre
RBI/2006-2007/389 DBOD.IBD.BC.No 96/23.37.001/2006-07 May 10,@@NBSP@@2007 All Scheduled Commercial Banks (Excluding RRBs and LABs) Dear Sir, Annual Policy Statement for the year 2007-08 - Extension of Credit Facilities to Overseas Step-down Subsidiaries of Indian Corporates Please@@NBSP@@ refer@@NBSP@@ to@@NBSP@@ our@@NBSP@@ circular DBOD. IBD. BC. No.41/ 23.37.001/ 2006-07@@NBSP@@dated November 6, 2006 in terms of which the prudential limit on funded / non-funded cre
May 08, 2007
Valuation of Investment in SLR/Approved Securites by RRBs
RBI/2006-2007/383RPCD.RRB.BC.No.87/03.05.34/2006-07May 8, 2007The ChairmenAll Regional Rural Banks/Sponsor BanksDear Sir, Valuation of investment in SLR/Approved Securities byRegional Rural Banks (RRBs)Please refer to our circular RPCD.RRB.BC.No.71/03.05.34/2005-06 dated March 31, 2006 on the above subject.2. The matter has been reviewed and it has been decided that the exemption granted to RRBs up to the financial year 2006-07 from 'mark to market' norms in respect o
RBI/2006-2007/383RPCD.RRB.BC.No.87/03.05.34/2006-07May 8, 2007The ChairmenAll Regional Rural Banks/Sponsor BanksDear Sir, Valuation of investment in SLR/Approved Securities byRegional Rural Banks (RRBs)Please refer to our circular RPCD.RRB.BC.No.71/03.05.34/2005-06 dated March 31, 2006 on the above subject.2. The matter has been reviewed and it has been decided that the exemption granted to RRBs up to the financial year 2006-07 from 'mark to market' norms in respect o
May 08, 2007
Import of Gold Coin - Tie-up arrangements
RBI/2006-2007/388DBOD. IBD.BC.95 /23.67.002/2006-07May 8, 2007All the banks authorised to import Gold/SilverDear Sir,Import of Gold Coin - Tie-up arrangements Under the Gold import authorisation scheme as envisaged in AD (GP Series) Circular No. 7 dated March 6, 1998 issued by our Foreign Exchange Department, we have been authorizing banks as Nominated Banks to import gold for sale to jewellery manufacturers, exporters and domestic users. 2. It has now been brought to
RBI/2006-2007/388DBOD. IBD.BC.95 /23.67.002/2006-07May 8, 2007All the banks authorised to import Gold/SilverDear Sir,Import of Gold Coin - Tie-up arrangements Under the Gold import authorisation scheme as envisaged in AD (GP Series) Circular No. 7 dated March 6, 1998 issued by our Foreign Exchange Department, we have been authorizing banks as Nominated Banks to import gold for sale to jewellery manufacturers, exporters and domestic users. 2. It has now been brought to
May 08, 2007
Guidelines on Corporate Governance
RBI/2006-2007/385DNBS.PD/CC 94/03.10.042/2006-07May 8, 2007The Chairman/CEO1. All Deposit taking NBFCs with deposit size of Rs 20 crore and above2. All non-deposit taking NBFCs with asset size of Rs 100 crore and above (NBFC-ND-SI).Dear Sir,Guidelines on Corporate Governance As it is evident, the need for good corporate governance has been gaining increased emphasis over the years. Globally, companies are adopting best corporate practices to increase the investors con
RBI/2006-2007/385DNBS.PD/CC 94/03.10.042/2006-07May 8, 2007The Chairman/CEO1. All Deposit taking NBFCs with deposit size of Rs 20 crore and above2. All non-deposit taking NBFCs with asset size of Rs 100 crore and above (NBFC-ND-SI).Dear Sir,Guidelines on Corporate Governance As it is evident, the need for good corporate governance has been gaining increased emphasis over the years. Globally, companies are adopting best corporate practices to increase the investors con
May 07, 2007
Complaints about excessive interest charged by banks
RBI/2006-2007/377DBOD No. Dir.BC.93/ 13.03.00/2006-07May 7, 2007All Commercial Banks (Excluding RRBs)Dear SirComplaints about excessive interest charged by banksPlease refer to paragraph 168 of the Annual Policy Statement for the year 2007-08 (copy enclosed).2. The Reserve Bank and Banking Ombudsmans' offices have been receiving several complaints regarding levying of excessive interest and charges on certain loans and advances. In this connection, a reference is invi
RBI/2006-2007/377DBOD No. Dir.BC.93/ 13.03.00/2006-07May 7, 2007All Commercial Banks (Excluding RRBs)Dear SirComplaints about excessive interest charged by banksPlease refer to paragraph 168 of the Annual Policy Statement for the year 2007-08 (copy enclosed).2. The Reserve Bank and Banking Ombudsmans' offices have been receiving several complaints regarding levying of excessive interest and charges on certain loans and advances. In this connection, a reference is invi
May 07, 2007
IT-enabled Financial Inclusion
RBI/2006-2007/378 DBOD.No.Leg.BC./94 /09.07.005/2006-07 May 07, 2007 The Chairman/Chief Executive Officer/Managing Director, All Scheduled Commercial Banks (Excluding RRBs) Dear Sir / Madam, Annual Policy Statement for the year 2007- 08 – IT-enabled Financial Inclusion Please refer to the paragraph 163 of the Annual Policy Statement for the year 2007-08, a copy of which is enclosed. 2.@@NBSP@@ As per our Circular DBOD.No.Leg.BC.44/09.07.005/2005-06 dated November 11,
RBI/2006-2007/378 DBOD.No.Leg.BC./94 /09.07.005/2006-07 May 07, 2007 The Chairman/Chief Executive Officer/Managing Director, All Scheduled Commercial Banks (Excluding RRBs) Dear Sir / Madam, Annual Policy Statement for the year 2007- 08 – IT-enabled Financial Inclusion Please refer to the paragraph 163 of the Annual Policy Statement for the year 2007-08, a copy of which is enclosed. 2.@@NBSP@@ As per our Circular DBOD.No.Leg.BC.44/09.07.005/2005-06 dated November 11,
May 03, 2007
Entry of RRBs into insurance agency business
RBI/2006-2007/371 RPCD.CO RRB.BC.No.86/03.05.33(G)/2006-07 May 3, 2007 Chairmen, All Regional Rural Banks Dear Sir, Entry of@@NBSP@@ Regional Rural Banks (RRBs) into insurance agency business It has been proposed in the Bank's Annual Policy Statement for the year 2007-08 (paragraph 153), announced on April 24, 2007, that as a measure of providing further business opportunities, RRBs would be allowed to take up corporate agency business, without risk participation, for
RBI/2006-2007/371 RPCD.CO RRB.BC.No.86/03.05.33(G)/2006-07 May 3, 2007 Chairmen, All Regional Rural Banks Dear Sir, Entry of@@NBSP@@ Regional Rural Banks (RRBs) into insurance agency business It has been proposed in the Bank's Annual Policy Statement for the year 2007-08 (paragraph 153), announced on April 24, 2007, that as a measure of providing further business opportunities, RRBs would be allowed to take up corporate agency business, without risk participation, for
May 03, 2007
Risk Weight on Residential Housing Loans reduced
RBI/2006-2007/372 DBOD.BP.BC. 92 /21.01.002/ 2006-07 May 3, 2007 All Commercial Banks(excluding Regional Rural Banks)Dear Sir,Annual Policy Statement for the year 2007- 08: Risk weight on residential housing loansPlease refer to our circular No.DBOD.BP.BC.61/21.01.002/2004-05 dated December 23, 2004, wherein the risk weights on housing loans extended by banks to individuals against mortgage of housing properties and investments in Mortgage backed Securities (MBS) of H
RBI/2006-2007/372 DBOD.BP.BC. 92 /21.01.002/ 2006-07 May 3, 2007 All Commercial Banks(excluding Regional Rural Banks)Dear Sir,Annual Policy Statement for the year 2007- 08: Risk weight on residential housing loansPlease refer to our circular No.DBOD.BP.BC.61/21.01.002/2004-05 dated December 23, 2004, wherein the risk weights on housing loans extended by banks to individuals against mortgage of housing properties and investments in Mortgage backed Securities (MBS) of H
Apr 30, 2007
SCSS, 2004 -Rate of Iinterest in Death Cases.
RBI/2006-2007/360DGBA.CDD. H-15824/15.15.001/2006-07April 30, 2007The General ManagerGovernment Accounts Department, Head OfficeState Bank of India / State Bank of Indore / State Bank of PatialaState Bank of Bikaner & Jaipur / State Bank of SaurashtraState Bank of Travancore / State Bank of Hyderabad / State Bank of MysoreAllahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra/Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / India
RBI/2006-2007/360DGBA.CDD. H-15824/15.15.001/2006-07April 30, 2007The General ManagerGovernment Accounts Department, Head OfficeState Bank of India / State Bank of Indore / State Bank of PatialaState Bank of Bikaner & Jaipur / State Bank of SaurashtraState Bank of Travancore / State Bank of Hyderabad / State Bank of MysoreAllahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra/Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / India
Apr 30, 2007
Provision for e-payment facilities to Government Departments
RBI/2006-2007/359 DGBA.GAD.No.H@@NBSP@@ @@NBSP@@15814 /31.03.002/2006-07 April 30, 2007 The Chairman & Managing Director/ Managing Director All Agency banks @@NBSP@@ Dear Sir, Provision for e-payment facilities to Government Departments As you are aware, the Central Vigilance Commission has directed the Government Departments vide Office Order No.98/ORD/1 dated April 6, 2004 (copy enclosed) to switch over to e-payment and e-receipts system to ensure transparency a
RBI/2006-2007/359 DGBA.GAD.No.H@@NBSP@@ @@NBSP@@15814 /31.03.002/2006-07 April 30, 2007 The Chairman & Managing Director/ Managing Director All Agency banks @@NBSP@@ Dear Sir, Provision for e-payment facilities to Government Departments As you are aware, the Central Vigilance Commission has directed the Government Departments vide Office Order No.98/ORD/1 dated April 6, 2004 (copy enclosed) to switch over to e-payment and e-receipts system to ensure transparency a
Apr 30, 2007
Guidelines On Lending To Priority Sector - Revised
RBI/2006-2007/358 RPCD. No. Plan. BC. 84 /04.09.01/ 2006-07 April 30, 2007The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks)]Dear Sir,GUIDELINES ON LENDING TO PRIORITY SECTOR – Revised As announced in the Reserve Bank's Annual Policy Statement for the year 2005-06, the prescriptions relating to priority sector lending have been modified and several new areas included from time to time. There is a v
RBI/2006-2007/358 RPCD. No. Plan. BC. 84 /04.09.01/ 2006-07 April 30, 2007The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks)]Dear Sir,GUIDELINES ON LENDING TO PRIORITY SECTOR – Revised As announced in the Reserve Bank's Annual Policy Statement for the year 2005-06, the prescriptions relating to priority sector lending have been modified and several new areas included from time to time. There is a v
Apr 30, 2007
Procedures/Processes for Agricultural Loans Simplified
RBI/2006-2007/363 RPCD.PLFS. BC. No.85 /05.04.02/ 2006-07 April 30,@@NBSP@@ 2007 The Chairman /Managing Director/ Chief Executive Officer All Scheduled Commercial Banks@@NBSP@@(including RRBs) Dear Sir, Simplification of the Procedures and Processes for Obtaining Agricultural Loans @@NBSP@@Please refer to paragraph 150 of the Annual Policy Statement for the year 2007-08 (copy enclosed). 2. At present, one of the hurdles faced by the farmers approaching for bank loans
RBI/2006-2007/363 RPCD.PLFS. BC. No.85 /05.04.02/ 2006-07 April 30,@@NBSP@@ 2007 The Chairman /Managing Director/ Chief Executive Officer All Scheduled Commercial Banks@@NBSP@@(including RRBs) Dear Sir, Simplification of the Procedures and Processes for Obtaining Agricultural Loans @@NBSP@@Please refer to paragraph 150 of the Annual Policy Statement for the year 2007-08 (copy enclosed). 2. At present, one of the hurdles faced by the farmers approaching for bank loans
Apr 30, 2007
RBI asks UCBs not to deal with 918 defaulted companies following Patna High Court Order
RBI/2006-2007/364DBOD. No. Dir. BC. 91 /13.26.00/2006-07April 30, 2007The Chairman/ Managing Director/ Chief Executive Officers of all Commercial Banks (excluding RRBs)Dear SirIn the High Court of Judicature at Patna –CWJC No.13422 of 2006 –Council for the Protection of Public Rights and Welfarevs. Union of India and Others – Regarding We have to advise you that the Hon'ble Patna High Court vide its order dated April 10, 2007 in the captioned matter has directed the R
RBI/2006-2007/364DBOD. No. Dir. BC. 91 /13.26.00/2006-07April 30, 2007The Chairman/ Managing Director/ Chief Executive Officers of all Commercial Banks (excluding RRBs)Dear SirIn the High Court of Judicature at Patna –CWJC No.13422 of 2006 –Council for the Protection of Public Rights and Welfarevs. Union of India and Others – Regarding We have to advise you that the Hon'ble Patna High Court vide its order dated April 10, 2007 in the captioned matter has directed the R
Apr 27, 2007
Monitoring of Credit Flow to Minority Communities
RBI/2006-2007/356RPCD.SP.BC.No. 83/09.10.01/2006-07April 27, 2007The Chairman/Managing DirectorsAll Indian Scheduled Commercial BanksDear Sir,List of 103 Minority Concentrated Districts having at least 25%minority population, excluding those States /UTs whereminorities are in majority (J&K, Punjab, Meghalaya, Mizoram,Nagaland & Lakshdweep)As you are aware, Government of India, Ministry of Welfare has notified the following as minority communities :- i) Sikhsii
RBI/2006-2007/356RPCD.SP.BC.No. 83/09.10.01/2006-07April 27, 2007The Chairman/Managing DirectorsAll Indian Scheduled Commercial BanksDear Sir,List of 103 Minority Concentrated Districts having at least 25%minority population, excluding those States /UTs whereminorities are in majority (J&K, Punjab, Meghalaya, Mizoram,Nagaland & Lakshdweep)As you are aware, Government of India, Ministry of Welfare has notified the following as minority communities :- i) Sikhsii
Apr 27, 2007
Implementation of the New Capital Adequacy Framework
RBI/2006-2007/357DBOD. No. BP. BC. 90 / 20.06.001/ 2006-07April 27, 2007 The Chairman/Chief Executive OfficerAll Commercial Banks(excluding LABs & RRBs)Dear Sir,Prudential Guidelines on Capital Adequacy and Market Discipline – Implementation of the New Capital Adequacy FrameworkPlease refer to our letter DBOD.No.BP.1151/21.06.001/2006-07 dated March 20, 2007 forwarding the revised draft guidelines for implementation of the New Capital Adequacy Framework (Revised F
RBI/2006-2007/357DBOD. No. BP. BC. 90 / 20.06.001/ 2006-07April 27, 2007 The Chairman/Chief Executive OfficerAll Commercial Banks(excluding LABs & RRBs)Dear Sir,Prudential Guidelines on Capital Adequacy and Market Discipline – Implementation of the New Capital Adequacy FrameworkPlease refer to our letter DBOD.No.BP.1151/21.06.001/2006-07 dated March 20, 2007 forwarding the revised draft guidelines for implementation of the New Capital Adequacy Framework (Revised F
Apr 27, 2007
Supervisory Framework for Systemically Important non-deposit taking/holding NBFCs (NBFC-ND-SI)
RBI/2006-2007/355 DNBS.PD/ CC.No. 93 / 03.05.002 /2006-07April 27, 2007 All Systemically Important Non-Banking Financial Companies (non-deposit taking NBFCs with assets size of Rs 100 crore and above) Except Government NBFC-ND-SI Dear Sir,Supervisory Framework for Systemically Important non-deposit taking/holding NBFCs (NBFC-ND-SI) Please refer to our Company Circular DNBS.PD/ CC.No. 86/ 03.02.089 /2006-07 dated December 12, 2006. To ensure adherence to compliance wit
RBI/2006-2007/355 DNBS.PD/ CC.No. 93 / 03.05.002 /2006-07April 27, 2007 All Systemically Important Non-Banking Financial Companies (non-deposit taking NBFCs with assets size of Rs 100 crore and above) Except Government NBFC-ND-SI Dear Sir,Supervisory Framework for Systemically Important non-deposit taking/holding NBFCs (NBFC-ND-SI) Please refer to our Company Circular DNBS.PD/ CC.No. 86/ 03.02.089 /2006-07 dated December 12, 2006. To ensure adherence to compliance wit
Apr 26, 2007
Interest Rates on NRE Deposits - RRBs
RBI/2006-2007/353RPCD.No.RRB.BC.82/03.05.33(C)/2006-07April 26, 2007 All Regional Rural BanksDear Sir,Interest Rate on Non-Resident (External) Rupee (NRE) Deposits Please refer to paragraphs 114 and 116 of the Annual Policy Statement for the year 2007-08 announced by Governor on April 24, 2007 (copy of the paragraphs enclosed).2. Interest Rates on Non-Resident (External) Rupee (NRE) DepositsOn a review of the instructions contained in paragraph 2 of our circular RPCD.
RBI/2006-2007/353RPCD.No.RRB.BC.82/03.05.33(C)/2006-07April 26, 2007 All Regional Rural BanksDear Sir,Interest Rate on Non-Resident (External) Rupee (NRE) Deposits Please refer to paragraphs 114 and 116 of the Annual Policy Statement for the year 2007-08 announced by Governor on April 24, 2007 (copy of the paragraphs enclosed).2. Interest Rates on Non-Resident (External) Rupee (NRE) DepositsOn a review of the instructions contained in paragraph 2 of our circular RPCD.
Apr 26, 2007
Interest Rate on Non-Resident (External) Rupee (NRE) Deposits
RBI/2006-2007/351 RPCD.CO.RF.BC.No.79/07.38.01/2006-07April 26, 2007 All State Co-operative Banks (StCBs) and District Central Co-operative Banks (DCCBs) Dear Sir,Interest Rate on Non-Resident (External) Rupee (NRE) Deposits Please refer to our Circular RPCD.CO.RF.BC.No.44/07.38.01/2006-07 dated February 6, 2007 on Interest Rate on NRE Rupee Deposits. In the Annual Policy Statement for the year 2007-08, announced on April 24, 2007 (extract of paragraphs 114, 115 and 1
RBI/2006-2007/351 RPCD.CO.RF.BC.No.79/07.38.01/2006-07April 26, 2007 All State Co-operative Banks (StCBs) and District Central Co-operative Banks (DCCBs) Dear Sir,Interest Rate on Non-Resident (External) Rupee (NRE) Deposits Please refer to our Circular RPCD.CO.RF.BC.No.44/07.38.01/2006-07 dated February 6, 2007 on Interest Rate on NRE Rupee Deposits. In the Annual Policy Statement for the year 2007-08, announced on April 24, 2007 (extract of paragraphs 114, 115 and 1
Apr 26, 2007
Interest Rate on FCNR(B) Deposits
RBI/2006-2007/352 RPCD.CO.RF.BC.No.81/ 07.38.01/2006-07 April 26, 2007 The Managing Director Maharashtra State Co-operative Bank Ltd. 9, Nagindas Master Road Extension, Fort Mumbai-1 Dear Sir, Interest Rate on FCNR(B) Deposits Please refer to our circular RPCD.CO.RF.BC.46 / 07.38.01 / 2006-07 February 6, 2007on Interest Rate on FCNR(B) Deposits. In the Annual Policy Statement for the year 2007-08, announced on April 24, 2007 (extract of paragraphs 114,115 and 116 encl
RBI/2006-2007/352 RPCD.CO.RF.BC.No.81/ 07.38.01/2006-07 April 26, 2007 The Managing Director Maharashtra State Co-operative Bank Ltd. 9, Nagindas Master Road Extension, Fort Mumbai-1 Dear Sir, Interest Rate on FCNR(B) Deposits Please refer to our circular RPCD.CO.RF.BC.46 / 07.38.01 / 2006-07 February 6, 2007on Interest Rate on FCNR(B) Deposits. In the Annual Policy Statement for the year 2007-08, announced on April 24, 2007 (extract of paragraphs 114,115 and 116 encl
Apr 25, 2007
Acceptance of Small Denomination Notes and Coins
RBI/2006-2007/349 DCM(NE)No. 7488 /08.07.18/2006-07April 25, 2007The Chairman and Managing Director/Chief Executive OfficerAll BanksMadam/Dear Sir,Acceptance of Small Denomination Notes and Coins A case involving refusal by a bank to accept demand draft involving fraction of a rupee came up before the Honourable High Court of Gujarat, Ahmedabad. The High Court of Gujarat, taking a serious view of the matter, has directed that appropriate steps may be taken in the matt
RBI/2006-2007/349 DCM(NE)No. 7488 /08.07.18/2006-07April 25, 2007The Chairman and Managing Director/Chief Executive OfficerAll BanksMadam/Dear Sir,Acceptance of Small Denomination Notes and Coins A case involving refusal by a bank to accept demand draft involving fraction of a rupee came up before the Honourable High Court of Gujarat, Ahmedabad. The High Court of Gujarat, taking a serious view of the matter, has directed that appropriate steps may be taken in the matt
Apr 25, 2007
Quarterly Statement to be submitted by Securitisation/Reconstruction Companies
RBI/2006-2007/346DNBS (PD) CC. No. 5 / SCRC / 10.30.000/ 2006-2007April 25, 2007 All registered Securitisation Companies/Reconstruction Companies Quarterly Statement to be submitted by Securitisation Companies/Reconstruction Companies registered with the Reserve Bank of India under Section 3(4) of the SARFAESI ActThe Reserve Bank of India in exercise of the powers conferred on it under Section 12 A of the Securitisation and Reconstruction of Financial Assets and Enfor
RBI/2006-2007/346DNBS (PD) CC. No. 5 / SCRC / 10.30.000/ 2006-2007April 25, 2007 All registered Securitisation Companies/Reconstruction Companies Quarterly Statement to be submitted by Securitisation Companies/Reconstruction Companies registered with the Reserve Bank of India under Section 3(4) of the SARFAESI ActThe Reserve Bank of India in exercise of the powers conferred on it under Section 12 A of the Securitisation and Reconstruction of Financial Assets and Enfor
Apr 24, 2007
Maintenance of Cash Reserve Ratio (CRR) - StCBs
RBI/2006-2007/339RPCD.CO.RF.BC.No.75/07.02.01/2006-07April@@NBSP@@24, 2007All Scheduled State Co-operative Banks Dear Sir,Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR)Please refer to our Circulars RBI/2006-2007/276 RPCD.RF.BC.54/07.02.01/ 2006-07 dated March 02, 2007 and RBI/2006-07/307 RPCD.CO.RF.BC.No.64/ 07.02.01/2006-07 dated April 04, 2007 on the captioned subject. Government of India in their Extraordinary Gazette notif
RBI/2006-2007/339RPCD.CO.RF.BC.No.75/07.02.01/2006-07April@@NBSP@@24, 2007All Scheduled State Co-operative Banks Dear Sir,Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR)Please refer to our Circulars RBI/2006-2007/276 RPCD.RF.BC.54/07.02.01/ 2006-07 dated March 02, 2007 and RBI/2006-07/307 RPCD.CO.RF.BC.No.64/ 07.02.01/2006-07 dated April 04, 2007 on the captioned subject. Government of India in their Extraordinary Gazette notif
Apr 24, 2007
Maintenance of Cash Reserve Ratio (CRR) on Exempted Categories
RBI/2006-2007/340 RPCD.CO.RF.BC.No.77/07.02.01/2006-07April 24, 2007All Scheduled State Co-operative Banks Dear Sir,Maintenance of Cash Reserve Ratio (CRR) on Exempted Categories Please refer to our Circular RBI/2006-2007/277 RPCD.RF.BC.56/07.02.01/2006-07 dated March 02, 2007 on the captioned subject. Consequent upon the notification of Section 3 of the Reserve Bank of India (Amendment) Act, 2006 coming into force with effect from April 01,2007, the statutory minimum
RBI/2006-2007/340 RPCD.CO.RF.BC.No.77/07.02.01/2006-07April 24, 2007All Scheduled State Co-operative Banks Dear Sir,Maintenance of Cash Reserve Ratio (CRR) on Exempted Categories Please refer to our Circular RBI/2006-2007/277 RPCD.RF.BC.56/07.02.01/2006-07 dated March 02, 2007 on the captioned subject. Consequent upon the notification of Section 3 of the Reserve Bank of India (Amendment) Act, 2006 coming into force with effect from April 01,2007, the statutory minimum
Apr 24, 2007
Maintenance of CRR - RRBs
RBI/2006-2007/342RPCD.RRB.CO.BC.No.73/03.05.28(B)/2006-07April 24, 2007All Regional Rural Banks Dear Sir,Section 42(1) of Reserve Bank of India Act, 1934 –Maintenance of Cash Reserve Ratio (CRR) Please refer to our Circulars RPCD.RRB.CO.BC.No.51/03.05.28(B)/2006-07 dated March 02, 2007 and RPCD.RRB.CO.BC.No.66/03.05.28(B)/2006-07 dated April 04, 2007 on the captioned subject. Government of India in their Extraordinary Gazette notification No.S.O.337(E) dated March 9,
RBI/2006-2007/342RPCD.RRB.CO.BC.No.73/03.05.28(B)/2006-07April 24, 2007All Regional Rural Banks Dear Sir,Section 42(1) of Reserve Bank of India Act, 1934 –Maintenance of Cash Reserve Ratio (CRR) Please refer to our Circulars RPCD.RRB.CO.BC.No.51/03.05.28(B)/2006-07 dated March 02, 2007 and RPCD.RRB.CO.BC.No.66/03.05.28(B)/2006-07 dated April 04, 2007 on the captioned subject. Government of India in their Extraordinary Gazette notification No.S.O.337(E) dated March 9,
Apr 24, 2007
Maintenance of CRR on Exempted Categories RRBs
RBI/2006-2007/341RPCD.RRB.CO.BC.No.72/03.05.28(B)/2006-07April 24, 2007All Regional Rural BanksDear Sir,Maintenance of Cash Reserve Ratio (CRR) on Exempted Categories Please refer to our Circular RPCD.CO.RRB.BC.No.52/03.05.28(B)/2006-07 dated March 2, 2007 on the captioned subject. Consequent upon the notification of Section 3 of the Reserve Bank of India (Amendment) Act, 2006 as coming into force with effect from April 01,2007, the statutory minimum CRR requirement o
RBI/2006-2007/341RPCD.RRB.CO.BC.No.72/03.05.28(B)/2006-07April 24, 2007All Regional Rural BanksDear Sir,Maintenance of Cash Reserve Ratio (CRR) on Exempted Categories Please refer to our Circular RPCD.CO.RRB.BC.No.52/03.05.28(B)/2006-07 dated March 2, 2007 on the captioned subject. Consequent upon the notification of Section 3 of the Reserve Bank of India (Amendment) Act, 2006 as coming into force with effect from April 01,2007, the statutory minimum CRR requirement o
Apr 24, 2007
Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and FCNR(B) deposits
RBI/2006-2007/344 DBOD. No. Dir. BC. 89 /13.03.00/2006-07April 24, 2007All Scheduled Commercial Banks (Excluding RRBs)Dear Sir,Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and FCNR(B) depositsPlease refer to paragraphs 114, 115 and 116 of the Annual Policy Statement for the year 2007-08 announced by Governor on April 24, 2007 (copy of the paragraphs enclosed).2.@@NBSP@@ Interest Rates on Non-Resident (External) Rupee (NRE) Deposits Please refer to pa
RBI/2006-2007/344 DBOD. No. Dir. BC. 89 /13.03.00/2006-07April 24, 2007All Scheduled Commercial Banks (Excluding RRBs)Dear Sir,Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and FCNR(B) depositsPlease refer to paragraphs 114, 115 and 116 of the Annual Policy Statement for the year 2007-08 announced by Governor on April 24, 2007 (copy of the paragraphs enclosed).2.@@NBSP@@ Interest Rates on Non-Resident (External) Rupee (NRE) Deposits Please refer to pa
Apr 24, 2007
Amendments to NBFC Regulations - Ceiling on rate of interest
RBI/2006-2007/345DNBS (PD) CC.No.92 /03.02.089/2006-07April 24, 2007To All Non-Banking Financial Companiesincluding Miscellaneous Non-Banking Companies (Chit Fund Companies) Dear Sirs,Amendments to NBFC Regulations - Ceiling on rate of interestPlease refer to paragraph 217 of the Annual Policy Statement 2007-08 in terms of which it has been stated:"The interest payable on deposits by NBFCs (other than residuary non-banking financial companies (RNBCs)) accepting public
RBI/2006-2007/345DNBS (PD) CC.No.92 /03.02.089/2006-07April 24, 2007To All Non-Banking Financial Companiesincluding Miscellaneous Non-Banking Companies (Chit Fund Companies) Dear Sirs,Amendments to NBFC Regulations - Ceiling on rate of interestPlease refer to paragraph 217 of the Annual Policy Statement 2007-08 in terms of which it has been stated:"The interest payable on deposits by NBFCs (other than residuary non-banking financial companies (RNBCs)) accepting public
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