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Nov 23, 2022
Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial years 2022-23 and 2023-24
RBI/2022-23/139 FIDD.CO.FSD.BC.No.13/05.02.001/2022-23 November 23, 2022 The Chairman/Managing Director/Chief Executive Officer All Public Sector Banks, Private Sector Banks and Small Finance Banks Madam/Dear Sir, Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial years 2022-23 and 2023-24 Please refer to our circular FIDD.CO.FSD.BC.No.3/05.02.001/2022-23 dated Apr
RBI/2022-23/139 FIDD.CO.FSD.BC.No.13/05.02.001/2022-23 November 23, 2022 The Chairman/Managing Director/Chief Executive Officer All Public Sector Banks, Private Sector Banks and Small Finance Banks Madam/Dear Sir, Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial years 2022-23 and 2023-24 Please refer to our circular FIDD.CO.FSD.BC.No.3/05.02.001/2022-23 dated Apr
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Nov 17, 2022
Formation of new districts in the State of Nagaland - Assignment of Lead Bank Responsibility
RBI/2022-23/138 FIDD.CO.LBS.BC.No.12/02.08.001/2022-23 November 17, 2022 The Chairman / Managing Director & Chief Executive Officer Lead Banks Concerned Madam/ Dear Sir, Formation of new districts in the State of Nagaland – Assignment of Lead Bank Responsibility The Government of Nagaland has notified formation of four new districts in the state of Nagaland vide Gazette Notifications No. NO.GAB-I/COM/DIST.ADMIN/2019 (Pt-1)/116, 117 and 118, all dated December 20,
RBI/2022-23/138 FIDD.CO.LBS.BC.No.12/02.08.001/2022-23 November 17, 2022 The Chairman / Managing Director & Chief Executive Officer Lead Banks Concerned Madam/ Dear Sir, Formation of new districts in the State of Nagaland – Assignment of Lead Bank Responsibility The Government of Nagaland has notified formation of four new districts in the state of Nagaland vide Gazette Notifications No. NO.GAB-I/COM/DIST.ADMIN/2019 (Pt-1)/116, 117 and 118, all dated December 20,
Nov 17, 2022
Exim Bank’s GoI supported Line of Credit of USD 300 Mn to the SBM (Mauritius) Infrastructure Development Company Ltd. for Construction of Phase-IV of the Mauritius Metro Express Project in Mauritius
RBI/2022-2023/137 A.P. (DIR Series) Circular No.18 November 17, 2022 All Category – I Authorised Dealer Banks Madam/Sir Exim Bank’s GoI supported Line of Credit of USD 300 Mn to the SBM (Mauritius) Infrastructure Development Company Ltd. for Construction of Phase-IV of the Mauritius Metro Express Project in Mauritius Export-Import Bank of India (Exim Bank) has entered into an agreement dated October 17, 2022 with the SBM (Mauritius) Infrastructure Development Company
RBI/2022-2023/137 A.P. (DIR Series) Circular No.18 November 17, 2022 All Category – I Authorised Dealer Banks Madam/Sir Exim Bank’s GoI supported Line of Credit of USD 300 Mn to the SBM (Mauritius) Infrastructure Development Company Ltd. for Construction of Phase-IV of the Mauritius Metro Express Project in Mauritius Export-Import Bank of India (Exim Bank) has entered into an agreement dated October 17, 2022 with the SBM (Mauritius) Infrastructure Development Company
Nov 14, 2022
Agency Commission for Direct Tax collection under TIN 2.0 regime
RBI/2022-23/136 CO.DGBA.GBD.No.S957/43-33-005/2022-2023 November 14, 2022 All Agency banks (authorised to collect direct taxes) Madam / Dear Sir Agency Commission for Direct Tax collection under TIN 2.0 regime Please refer to Para 21 of our Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated April 1, 2022 related to claiming of agency commission. 2. After implementation of TIN 2.0 regime for collection of direct taxes
RBI/2022-23/136 CO.DGBA.GBD.No.S957/43-33-005/2022-2023 November 14, 2022 All Agency banks (authorised to collect direct taxes) Madam / Dear Sir Agency Commission for Direct Tax collection under TIN 2.0 regime Please refer to Para 21 of our Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated April 1, 2022 related to claiming of agency commission. 2. After implementation of TIN 2.0 regime for collection of direct taxes
Nov 01, 2022
Eligibility Criteria for offering Internet Banking Facility by Regional Rural Banks, 2022
RBI/2022-23/135 DoR.AUT.REC.81/24.01.001/2022-23 November 01, 2022 Madam / Sir, Eligibility Criteria for offering Internet Banking Facility by Regional Rural Banks, 2022 In exercise of the powers conferred by Sections 35A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest so to do, hereby, amends the instructions issued vide circular DBR.RRB.BC.No.59/31.01.001/2015-16 dated November
RBI/2022-23/135 DoR.AUT.REC.81/24.01.001/2022-23 November 01, 2022 Madam / Sir, Eligibility Criteria for offering Internet Banking Facility by Regional Rural Banks, 2022 In exercise of the powers conferred by Sections 35A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest so to do, hereby, amends the instructions issued vide circular DBR.RRB.BC.No.59/31.01.001/2015-16 dated November
Oct 27, 2022
Designation of 10 individuals as ‘Terrorists’ under Section 35 (1) (a) of the Unlawful Activities (Prevention) Act (UAPA), 1967 and their listing in the Schedule IV of the Act- Reg.
RBI/2022-23/134 DOR.AML.REC.80/14.06.001/2022-23 October 27, 2022 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Designation of 10 individuals as ‘Terrorists’ under Section 35 (1) (a) of the Unlawful Activities (Prevention) Act (UAPA), 1967 and their listing in the Schedule IV of the Act- Reg. In terms of Section 53 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on May 10, 2021, “The procedure laid down in the UA
RBI/2022-23/134 DOR.AML.REC.80/14.06.001/2022-23 October 27, 2022 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Designation of 10 individuals as ‘Terrorists’ under Section 35 (1) (a) of the Unlawful Activities (Prevention) Act (UAPA), 1967 and their listing in the Schedule IV of the Act- Reg. In terms of Section 53 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on May 10, 2021, “The procedure laid down in the UA
Oct 20, 2022
Exim Bank’s Short-Term Line of Credit (STLoC) of EUR 100 million to the Banco Exterior de Cuba for purchase of rice from India
RBI/2022-2023/133 A.P. (DIR Series) Circular No.17 October 20, 2022 All Category – I Authorised Dealer Banks Madam/Sir Exim Bank’s Short-Term Line of Credit (STLoC) of EUR 100 million to the Banco Exterior de Cuba for purchase of rice from India Export-Import Bank of India (Exim Bank) has entered into an agreement dated June 23, 2022 with the Banco Exterior de Cuba- an agency nominated by the Government of Republic of Cuba for making available to the latter, Short Ter
RBI/2022-2023/133 A.P. (DIR Series) Circular No.17 October 20, 2022 All Category – I Authorised Dealer Banks Madam/Sir Exim Bank’s Short-Term Line of Credit (STLoC) of EUR 100 million to the Banco Exterior de Cuba for purchase of rice from India Export-Import Bank of India (Exim Bank) has entered into an agreement dated June 23, 2022 with the Banco Exterior de Cuba- an agency nominated by the Government of Republic of Cuba for making available to the latter, Short Ter
Oct 13, 2022
Claims Received from the National Credit Guarantee Trustee Company Ltd (NCGTC) - Classification for the Purpose of Maintenance of Cash Reserve Ratio (CRR)/Statutory Liquidity Ratio (SLR)
RBI/2022-23/132 DOR.RET.REC.79/12.01.001/2022-23 October 13, 2022 All Scheduled Commercial Banks (including Regional Rural Banks) Local Area Banks, Small Finance Banks, Payments Banks Primary (Urban) Co-operative Banks (UCBs) State and Central Co-operative Banks (StCBs/CCBs) Madam/Dear Sir, Claims Received from the National Credit Guarantee Trustee Company Ltd (NCGTC) - Classification for the Purpose of Maintenance of Cash Reserve Ratio (CRR)/Statutory Liquidity Ratio
RBI/2022-23/132 DOR.RET.REC.79/12.01.001/2022-23 October 13, 2022 All Scheduled Commercial Banks (including Regional Rural Banks) Local Area Banks, Small Finance Banks, Payments Banks Primary (Urban) Co-operative Banks (UCBs) State and Central Co-operative Banks (StCBs/CCBs) Madam/Dear Sir, Claims Received from the National Credit Guarantee Trustee Company Ltd (NCGTC) - Classification for the Purpose of Maintenance of Cash Reserve Ratio (CRR)/Statutory Liquidity Ratio
Oct 11, 2022
Diversification of activities by SPDs - Review of permissible non-core activities - Prudential regulations and other instructions
RBI/2022-23/127 DOR.FIN.REC.No.73/03.10.117/2022-23 October 11, 2022 All Standalone Primary Dealers (SPDs) Dear Sir/ Madam, Diversification of activities by SPDs – Review of permissible non-core activities – Prudential regulations and other instructions Please refer to the circular DOR.FIN.REC.No.72/03.10.117/2022-23 dated October 11, 2022 allowing SPDs to undertake foreign exchange activities as part of their non-core activities. In this connection, SPDs shall adhere
RBI/2022-23/127 DOR.FIN.REC.No.73/03.10.117/2022-23 October 11, 2022 All Standalone Primary Dealers (SPDs) Dear Sir/ Madam, Diversification of activities by SPDs – Review of permissible non-core activities – Prudential regulations and other instructions Please refer to the circular DOR.FIN.REC.No.72/03.10.117/2022-23 dated October 11, 2022 allowing SPDs to undertake foreign exchange activities as part of their non-core activities. In this connection, SPDs shall adhere
Oct 11, 2022
Diversification of activities by SPDs - Review of permissible non-core activities
RBI/2022-23/126 DOR.FIN.REC.No.72/03.10.117/2022-23 October 11, 2022 All Standalone Primary Dealers (SPDs) Dear Sir/ Madam, Diversification of activities by SPDs – Review of permissible non-core activities A reference is invited to circular DNBR (PD) CC.No.094/03.10.001/2018-19 dated July 27, 2018 in terms of which SPDs, as part of their non-core activities, are permitted to offer foreign exchange products, as allowed from time to time, to their Foreign Portfolio Inve
RBI/2022-23/126 DOR.FIN.REC.No.72/03.10.117/2022-23 October 11, 2022 All Standalone Primary Dealers (SPDs) Dear Sir/ Madam, Diversification of activities by SPDs – Review of permissible non-core activities A reference is invited to circular DNBR (PD) CC.No.094/03.10.001/2018-19 dated July 27, 2018 in terms of which SPDs, as part of their non-core activities, are permitted to offer foreign exchange products, as allowed from time to time, to their Foreign Portfolio Inve
Oct 11, 2022
Multiple NBFCs in a Group: Classification in Middle Layer
RBI/2022-23/129 DOR.CRE.REC.No.78/03.10.001/2022-23 October 11, 2022 All Non-Banking Financial Companies Madam / Dear Sir, Multiple NBFCs in a Group: Classification in Middle Layer Please refer to para 1 of the Annex to the Circular on “Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs” issued on October 22, 2021 delineating the four layered regulatory structure for NBFCs under Scale Based Regulatory Framework. 2. As per para 16 of the Master Dire
RBI/2022-23/129 DOR.CRE.REC.No.78/03.10.001/2022-23 October 11, 2022 All Non-Banking Financial Companies Madam / Dear Sir, Multiple NBFCs in a Group: Classification in Middle Layer Please refer to para 1 of the Annex to the Circular on “Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs” issued on October 22, 2021 delineating the four layered regulatory structure for NBFCs under Scale Based Regulatory Framework. 2. As per para 16 of the Master Dire
Oct 11, 2022
Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021 - Disclosure of Divergence in Asset Classification and Provisioning
RBI/2022-23/130 DOR.ACC.REC.No.74/21.04.018/2022-23 October 11, 2022 Madam / Dear Sir, Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021 - Disclosure of Divergence in Asset Classification and Provisioning In terms of paragraph C.4(e) of Annexure III to the Reserve Bank of India (Financial Statements-Presentation and Disclosures) Directions, 2021, commercial banks (excluding Regional Rural Banks (RRBs)) are required to disclos
RBI/2022-23/130 DOR.ACC.REC.No.74/21.04.018/2022-23 October 11, 2022 Madam / Dear Sir, Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021 - Disclosure of Divergence in Asset Classification and Provisioning In terms of paragraph C.4(e) of Annexure III to the Reserve Bank of India (Financial Statements-Presentation and Disclosures) Directions, 2021, commercial banks (excluding Regional Rural Banks (RRBs)) are required to disclos
Oct 11, 2022
Reserve Bank of India (Unhedged Foreign Currency Exposure) Directions, 2022
RBI/2022-23/131 DOR.MRG.REC.76/00-00-007/2022-23 October 11, 2022 Dear Sir / Madam, Reserve Bank of India (Unhedged Foreign Currency Exposure) Directions, 2022 The Reserve Bank of India has, from time to time, issued several guidelines / instructions / directives to the banks on Unhedged Foreign Currency Exposure (UFCE) of the entities which have borrowed from banks. 2. We have received references from banks seeking clarification on various aspects including inter-ali
RBI/2022-23/131 DOR.MRG.REC.76/00-00-007/2022-23 October 11, 2022 Dear Sir / Madam, Reserve Bank of India (Unhedged Foreign Currency Exposure) Directions, 2022 The Reserve Bank of India has, from time to time, issued several guidelines / instructions / directives to the banks on Unhedged Foreign Currency Exposure (UFCE) of the entities which have borrowed from banks. 2. We have received references from banks seeking clarification on various aspects including inter-ali
Oct 11, 2022
Review of Regulatory Framework for Asset Reconstruction Companies (ARCs)
RBI/2022-23/128 DoR.SIG.FIN.REC.75/26.03.001/2022-23 October 11, 2022 All Asset Reconstruction Companies Dear Sir/ Madam, Review of Regulatory Framework for Asset Reconstruction Companies (ARCs) ARCs play a vital role in the management of distressed financial assets of banks and financial institutions. Considering their critical role, a need was felt to review their functioning and operating framework. Accordingly, as part of the Statement on Developmental and Regulat
RBI/2022-23/128 DoR.SIG.FIN.REC.75/26.03.001/2022-23 October 11, 2022 All Asset Reconstruction Companies Dear Sir/ Madam, Review of Regulatory Framework for Asset Reconstruction Companies (ARCs) ARCs play a vital role in the management of distressed financial assets of banks and financial institutions. Considering their critical role, a need was felt to review their functioning and operating framework. Accordingly, as part of the Statement on Developmental and Regulat
Oct 10, 2022
Review of Prudential Norms - Risk Weights for Exposures to Corporates and NBFCs
RBI/2022-23/125 DOR.STR.REC.71/21.06.201/2022-23 October 10, 2022 All Scheduled Commercial Banks (including Small Finance Banks) (Excluding Local Area Banks, Regional Rural Banks and Payments Banks) Madam/Dear Sir, Review of Prudential Norms – Risk Weights for Exposures to Corporates and NBFCs Please refer to paragraph 6.8.1 (i) of Master Circular on Basel III capital regulations dated April 1, 2022 in terms of which banks are permitted to derive risk weights for thei
RBI/2022-23/125 DOR.STR.REC.71/21.06.201/2022-23 October 10, 2022 All Scheduled Commercial Banks (including Small Finance Banks) (Excluding Local Area Banks, Regional Rural Banks and Payments Banks) Madam/Dear Sir, Review of Prudential Norms – Risk Weights for Exposures to Corporates and NBFCs Please refer to paragraph 6.8.1 (i) of Master Circular on Basel III capital regulations dated April 1, 2022 in terms of which banks are permitted to derive risk weights for thei
Oct 06, 2022
Appointment of Internal Ombudsman by the Credit Information Companies
RBI/2022-23/124 CEPD.PRD.No.S806/13-01-008/2022-23 October 6, 2022 All Credit Information Companies Madam/ Sir, Appointment of Internal Ombudsman by the Credit Information Companies Please refer to paragraph 2 of the Statement on Developmental and Regulatory Policies dated August 5, 2022, wherein the decision to bring Credit Information Companies (CICs) under the Internal Ombudsman (IO) Framework was announced with a view to strengthen and improve the efficiency of th
RBI/2022-23/124 CEPD.PRD.No.S806/13-01-008/2022-23 October 6, 2022 All Credit Information Companies Madam/ Sir, Appointment of Internal Ombudsman by the Credit Information Companies Please refer to paragraph 2 of the Statement on Developmental and Regulatory Policies dated August 5, 2022, wherein the decision to bring Credit Information Companies (CICs) under the Internal Ombudsman (IO) Framework was announced with a view to strengthen and improve the efficiency of th
Sep 30, 2022
Change in Bank Rate
RBI/2022-23/123 DOR.RET.REC.70/12.01.001/2022-23 September 30, 2022 Madam/Sir, Change in Bank Rate Please refer to our circular DOR.RET.REC.59/12.01.001/2022-23 dated August 05, 2022 on the captioned subject. 2. As announced in the Monetary Policy Statement 2022-23 dated September 30, 2022, the Bank Rate is revised upwards by 50 basis points from 5.65 per cent to 6.15 per cent with immediate effect. 3. All penal interest rates on shortfall in reserve requirements, whi
RBI/2022-23/123 DOR.RET.REC.70/12.01.001/2022-23 September 30, 2022 Madam/Sir, Change in Bank Rate Please refer to our circular DOR.RET.REC.59/12.01.001/2022-23 dated August 05, 2022 on the captioned subject. 2. As announced in the Monetary Policy Statement 2022-23 dated September 30, 2022, the Bank Rate is revised upwards by 50 basis points from 5.65 per cent to 6.15 per cent with immediate effect. 3. All penal interest rates on shortfall in reserve requirements, whi
Sep 30, 2022
Late Submission Fee for reporting delays under Foreign Exchange Management Act, 1999 (FEMA)
RBI/2022-23/122 A.P. (DIR Series) Circular No. 16 September 30, 2022 ToAll Category-I Authorised Dealer Banks Madam / Sir Late Submission Fee for reporting delays under Foreign Exchange Management Act, 1999 (FEMA) The Late Submission Fee (LSF) was introduced for reporting delays in Foreign Investment (FI), External Commercial Borrowings (ECBs) and Overseas Investment related transactions with effect from November 07, 2017, January 16, 2019 and August 22, 2022 respecti
RBI/2022-23/122 A.P. (DIR Series) Circular No. 16 September 30, 2022 ToAll Category-I Authorised Dealer Banks Madam / Sir Late Submission Fee for reporting delays under Foreign Exchange Management Act, 1999 (FEMA) The Late Submission Fee (LSF) was introduced for reporting delays in Foreign Investment (FI), External Commercial Borrowings (ECBs) and Overseas Investment related transactions with effect from November 07, 2017, January 16, 2019 and August 22, 2022 respecti
Sep 30, 2022
Standing Liquidity Facility for Primary Dealers
RBI/2022-23/121 REF.No.MPD.BC.395/07.01.279/2022-23 September 30, 2022 All Primary Dealers, Standing Liquidity Facility for Primary Dealers As announced in the Monetary Policy Statement 2022-23 today, it has been decided by the Monetary Policy Committee (MPC) to increase the policy repo rate under the Liquidity Adjustment Facility (LAF) by 50 basis points from 5.40 per cent to 5.90 per cent with immediate effect. 2. Accordingly, the Standing Liquidity Facility provide
RBI/2022-23/121 REF.No.MPD.BC.395/07.01.279/2022-23 September 30, 2022 All Primary Dealers, Standing Liquidity Facility for Primary Dealers As announced in the Monetary Policy Statement 2022-23 today, it has been decided by the Monetary Policy Committee (MPC) to increase the policy repo rate under the Liquidity Adjustment Facility (LAF) by 50 basis points from 5.40 per cent to 5.90 per cent with immediate effect. 2. Accordingly, the Standing Liquidity Facility provide
Sep 30, 2022
Liquidity Adjustment Facility- Change in rates
RBI/2022-2023/120 FMOD.MAOG.No.147/01.01.001/2022-23 September 30, 2022 All Liquidity Adjustment Facility (LAF) participants Madam/Sir, Liquidity Adjustment Facility- Change in rates As announced in the Monetary Policy Statement dated September 30, 2022, it has been decided by the Monetary Policy Committee (MPC) to increase the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 50 basis points from 5.40 per cent to 5.90 per cent with immediate effect. 2
RBI/2022-2023/120 FMOD.MAOG.No.147/01.01.001/2022-23 September 30, 2022 All Liquidity Adjustment Facility (LAF) participants Madam/Sir, Liquidity Adjustment Facility- Change in rates As announced in the Monetary Policy Statement dated September 30, 2022, it has been decided by the Monetary Policy Committee (MPC) to increase the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 50 basis points from 5.40 per cent to 5.90 per cent with immediate effect. 2
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Page Last Updated on: November 23, 2022
