Press Releases - આરબીઆઈ - Reserve Bank of India
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ઑગસ્ટ 30, 1999Pay income tax at specified bank branches : Reserve Bank of IndiaFor the convenience of income tax assessees, arrangements have been made for receipt of advance income tax at specified branches of Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Dena Bank, Indian Overseas Bank, State Bank of India and United Bank of India. The designated branches of these banks are authorised by the income tax department to accept payment of income tax dues. Assessees are advised to take advantage of these standing arrangeFor the convenience of income tax assessees, arrangements have been made for receipt of advance income tax at specified branches of Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Dena Bank, Indian Overseas Bank, State Bank of India and United Bank of India. The designated branches of these banks are authorised by the income tax department to accept payment of income tax dues. Assessees are advised to take advantage of these standing arrange
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ઑગસ્ટ 19, 1999Report of the Working Group on International Banking StatisticsIn the context of the recent crisis in East Asia, the need for collection of timely and comprehensive information on international exposure of commercial banks has assumed critical importance at the international level. With the growing liberalisation of the external sector, close monitoring, on an ongoing basis, of the international claims and liabilities of the Indian banking sector has also become necessary. This will enable India to gauge the developments in interIn the context of the recent crisis in East Asia, the need for collection of timely and comprehensive information on international exposure of commercial banks has assumed critical importance at the international level. With the growing liberalisation of the external sector, close monitoring, on an ongoing basis, of the international claims and liabilities of the Indian banking sector has also become necessary. This will enable India to gauge the developments in inter
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ઑગસ્ટ 06, 1999Reserve Bank releases Report on Repurchase Agreements for Market FeedbackThe Reserve Bank of India has today published the report on 'Repurchase Agreements (Repos)', prepared by the sub-group of the erstwhile Technical Advisory Committee on Government Securities Market. Copies of the report are been circulated among market participants, such as, primary dealers, satellite dealers and the Fixed Income and Money Market Dealers Association (FIMMDA) for obtaining their views.There has been continuing demand from the market participants to wideThe Reserve Bank of India has today published the report on 'Repurchase Agreements (Repos)', prepared by the sub-group of the erstwhile Technical Advisory Committee on Government Securities Market. Copies of the report are been circulated among market participants, such as, primary dealers, satellite dealers and the Fixed Income and Money Market Dealers Association (FIMMDA) for obtaining their views.There has been continuing demand from the market participants to wide
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જુલાઈ 06, 1999Aggregate Deposits and Gross Bank Credit of All Scheduled Commercial Banks : Quarterly Handout:March 31, 1999The 'Banking Statistics: Quarterly Handout - March 1999' providing data on aggregate deposits and gross bank credit of scheduled commercial banks as on March 31, 1999, with various classifications, has been published by the Reserve Bank of India. The primary data have been collected from the scheduled commercial banks through the BSR-7 return. Data have been presented according to top hundred centres, population groups, districts, states and bank groups. The publicatiThe 'Banking Statistics: Quarterly Handout - March 1999' providing data on aggregate deposits and gross bank credit of scheduled commercial banks as on March 31, 1999, with various classifications, has been published by the Reserve Bank of India. The primary data have been collected from the scheduled commercial banks through the BSR-7 return. Data have been presented according to top hundred centres, population groups, districts, states and bank groups. The publicati
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જૂન 08, 1999Working Group to explore the possibilities of setting up a Credit Information Bureau in IndiaThe Reserve Bank of India has set up a Working Group to explore the possibilities of setting up a Credit Information Bureau in India. The credit information bureau is being contemplated for the collection of credit information relating to borrowers from lending institutions and for the provision of such information to the financial system, with a view to facilitating the distribution of credit to all sectors of the economy and for related or incidental matters. The coThe Reserve Bank of India has set up a Working Group to explore the possibilities of setting up a Credit Information Bureau in India. The credit information bureau is being contemplated for the collection of credit information relating to borrowers from lending institutions and for the provision of such information to the financial system, with a view to facilitating the distribution of credit to all sectors of the economy and for related or incidental matters. The co
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જૂન 07, 1999Banks to register Nomination Facility in Deposit Accounts in PassbooksThe Reserve Bank of India has decided to introduce the practice of recording on the face of the passbooks the position regarding availment of nomination facility. The banks will now be able to record on the face of the passbook the position regarding availment of nomination facility by a depositor. The bank will record this on the passbook with a legend "Nomination Registered". The facility intends to facilitate expeditious settlement of claims by banks in the accountThe Reserve Bank of India has decided to introduce the practice of recording on the face of the passbooks the position regarding availment of nomination facility. The banks will now be able to record on the face of the passbook the position regarding availment of nomination facility by a depositor. The bank will record this on the passbook with a legend "Nomination Registered". The facility intends to facilitate expeditious settlement of claims by banks in the account
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જૂન 02, 1999Bareilly Corporation branches to function as branches of Bank of Baroda from tomorrowThe Reserve Bank of India has notified that from June 3, 1999, branches of the Bareilly Corporation Bank Ltd. will function as branches of Bank of Baroda.The Bareilly Corporation Bank Ltd. was already under an Order of Moratorium from the close of business on March 8, 1999 up to June 5, 1999 (inclusive). The moratorium was recommended by the Reserve Bank of India to the Government of India under Sub-section (1) of Section 45 of the Banking Regulation Act, 1949. The GoThe Reserve Bank of India has notified that from June 3, 1999, branches of the Bareilly Corporation Bank Ltd. will function as branches of Bank of Baroda.The Bareilly Corporation Bank Ltd. was already under an Order of Moratorium from the close of business on March 8, 1999 up to June 5, 1999 (inclusive). The moratorium was recommended by the Reserve Bank of India to the Government of India under Sub-section (1) of Section 45 of the Banking Regulation Act, 1949. The Go
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એપ્રિલ 07, 1999Aggregate Deposits and Gross Bank Credit of All Scheduled Commercial Banks: Quarterly Handout: Last Friday of December 1998The 'Banking Statistics: Quarterly Handout - December 1998' providing data on Aggregate Deposits and Gross Bank Credit of Scheduled Commercial Banks as on last Friday of December 1998, with various classifications, has been published by Reserve Bank of India. The primary data have been collected from the Scheduled Commercial Banks through the BSR-7 return. Data have been presented according to top hundred centres, population groups, districts, states and bank groups.TThe 'Banking Statistics: Quarterly Handout - December 1998' providing data on Aggregate Deposits and Gross Bank Credit of Scheduled Commercial Banks as on last Friday of December 1998, with various classifications, has been published by Reserve Bank of India. The primary data have been collected from the Scheduled Commercial Banks through the BSR-7 return. Data have been presented according to top hundred centres, population groups, districts, states and bank groups.T
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માર્ચ 01, 1999Income Tax Dues can be paid at Designated Bank BranchesFor the convenience of income tax assessees, the Income Tax department has authorised designated branches of Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Dena Bank, Indian Overseas Bank, State Bank of India and United Bank of India to accept payment of income tax dues. Accordingly, arrangements have been made for receipt of advance income tax at the designated branches of these banks.The Reserve Bank of India has advised assessees to takeFor the convenience of income tax assessees, the Income Tax department has authorised designated branches of Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Dena Bank, Indian Overseas Bank, State Bank of India and United Bank of India to accept payment of income tax dues. Accordingly, arrangements have been made for receipt of advance income tax at the designated branches of these banks.The Reserve Bank of India has advised assessees to take
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માર્ચ 01, 1999RBI announces reduction in Repo Rate, Bank Rate and CRRThe Reserve Bank of India has today announced the following measures :A reduction in Repo Rate from 8 per cent to 6 per cent effective March 3, 1999. A reduction in Bank Rate from 9 per cent to 8 per cent effective close of business hours on March 1, 1999. A reduction in Cash Reserve Ratio from 11 per cent to 10.5 per cent effective from the fortnight beginning on March 13, 1999.Alpana Killawala General ManagerPress Release : 1998-99/1118The Reserve Bank of India has today announced the following measures :A reduction in Repo Rate from 8 per cent to 6 per cent effective March 3, 1999. A reduction in Bank Rate from 9 per cent to 8 per cent effective close of business hours on March 1, 1999. A reduction in Cash Reserve Ratio from 11 per cent to 10.5 per cent effective from the fortnight beginning on March 13, 1999.Alpana Killawala General ManagerPress Release : 1998-99/1118
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ફેબ્રુ 26, 1999Banks to observe Saturday February 27, 1999 as a whole working dayThe Reserve Bank of India has decided that bank branches (including Regional Rural Banks and cooperative banks)will remain open for the whole day on Saturday, February 27, 1999 to obviate the inconvenience caused to customers on account of dislocation of banking services on February 25 and 26, 1999, and in public interest . Normal banking transactions will, therefore, be undertaken in these banks/branches on February 27, 1999 and they will observe business/working houThe Reserve Bank of India has decided that bank branches (including Regional Rural Banks and cooperative banks)will remain open for the whole day on Saturday, February 27, 1999 to obviate the inconvenience caused to customers on account of dislocation of banking services on February 25 and 26, 1999, and in public interest . Normal banking transactions will, therefore, be undertaken in these banks/branches on February 27, 1999 and they will observe business/working hou
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ફેબ્રુ 19, 1999Final Guidelines on Asset-Liability Management (ALM) System in BanksThe Reserve Bank of India has today issued final guidelines on Asset-Liability Management (ALM) System for implementation by banks effective April 1, 1999. The guidelines mainly address liquidity and interest rate risks and have been formulated to serve as a benchmark for banks not having formal ALM systems. Banks which have already adopted more sophisticated systems, have been permitted to continue their existing systems but have been asked to finetune their managemeThe Reserve Bank of India has today issued final guidelines on Asset-Liability Management (ALM) System for implementation by banks effective April 1, 1999. The guidelines mainly address liquidity and interest rate risks and have been formulated to serve as a benchmark for banks not having formal ALM systems. Banks which have already adopted more sophisticated systems, have been permitted to continue their existing systems but have been asked to finetune their manageme
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ફેબ્રુ 08, 1999RBI Working Group for Revival of Weak Public Sector BanksIn consultation with the Government of India, the Reserve Bank of India has decided to set up a Working Group under the Chairmanship of Shri M. S. Verma, former Chairman of State Bank of India and presently Adviser to the Reserve Bank, to suggest measures for revival of weak public sector banks, with the following members :(i)Shri K. R. Ramamurthy, Chairman, Vysya Bank Limited(ii)Shri M. M. Chitale, Chartered Accountant (former President, Institute of Chartered AccounIn consultation with the Government of India, the Reserve Bank of India has decided to set up a Working Group under the Chairmanship of Shri M. S. Verma, former Chairman of State Bank of India and presently Adviser to the Reserve Bank, to suggest measures for revival of weak public sector banks, with the following members :(i)Shri K. R. Ramamurthy, Chairman, Vysya Bank Limited(ii)Shri M. M. Chitale, Chartered Accountant (former President, Institute of Chartered Accoun
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જાન્યુ 14, 1999Reserve Bank of India to operationalise ALM system in banksChief executives of banks have been advised by the Reserve Bank of India to put in place the Asset Liability Management system by April 1, 1999 inorder to measure the risks. Keeping in view the constraints of the prevailing management information system and the level of computerisations, it was decided that banks will capture at least 60 per cent of the data on their assets and liabilities in the first year of implementation of ALM system.The Reserve Bank of India hadChief executives of banks have been advised by the Reserve Bank of India to put in place the Asset Liability Management system by April 1, 1999 inorder to measure the risks. Keeping in view the constraints of the prevailing management information system and the level of computerisations, it was decided that banks will capture at least 60 per cent of the data on their assets and liabilities in the first year of implementation of ALM system.The Reserve Bank of India had
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જાન્યુ 01, 1999Aggregate Deposits and Gross Bank Credit of All Scheduled Commercial Banks:Quarterly Handout : Last Friday of September 1998The "Banking Statistics : Quarterly Handout - September 1998" providing data on Aggregate Deposits and Gross Bank Credit of Scheduled Commercial Banks as on last Friday of September 1998, with various classifications, has been published by Reserve Bank of India. The primary data have been collected from the Scheduled Commercial Banks through the BSR-7 return. Data have been presented according to top hundred centres, population groups, districts, states and bank groupThe "Banking Statistics : Quarterly Handout - September 1998" providing data on Aggregate Deposits and Gross Bank Credit of Scheduled Commercial Banks as on last Friday of September 1998, with various classifications, has been published by Reserve Bank of India. The primary data have been collected from the Scheduled Commercial Banks through the BSR-7 return. Data have been presented according to top hundred centres, population groups, districts, states and bank group
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ડિસે 01, 1998RBI appeal to IT payersThe Reserve Bank of India has advised income tax assessees to take advantage of paying advance income tax at branches of designated banks. For the convenience of income tax assessees, arrangements have been made for receipt of advance income tax at specified branches of Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Dena Bank, Indian Overseas Bank, State Bank of India and United Bank of India. The designated branches of these banks have beeThe Reserve Bank of India has advised income tax assessees to take advantage of paying advance income tax at branches of designated banks. For the convenience of income tax assessees, arrangements have been made for receipt of advance income tax at specified branches of Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Dena Bank, Indian Overseas Bank, State Bank of India and United Bank of India. The designated branches of these banks have bee
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નવે 05, 1998Facility to operate bank account by old/sick/incapacitated customersThe Reserve Bank of India has prescribed a procedure which banks can follow to enable the old/sick/incapacitated account holders to operate their bank accounts. In a circular issued recently, the Reserve Bank has identified two categories of sick/old/incapacitated customers. One, who is too ill to sign a cheque/cannot be physically present in the bank to withdraw money from his bank account but can put his/her thumb impression on the cheque/withdrawal form; and the otThe Reserve Bank of India has prescribed a procedure which banks can follow to enable the old/sick/incapacitated account holders to operate their bank accounts. In a circular issued recently, the Reserve Bank has identified two categories of sick/old/incapacitated customers. One, who is too ill to sign a cheque/cannot be physically present in the bank to withdraw money from his bank account but can put his/her thumb impression on the cheque/withdrawal form; and the ot
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ઑક્ટો 31, 1998RBI sets up a Working Group of Bankers to improve delivery systems and simplify procedure for provision of credit and other facilities to exportersThe Reserve Bank of India today announced the decision to set up a Working Group under the chairmanship of Shri V.Subrahmanyam, currently Executive Director, Reserve Bank of India in order to improve the procedures for credit delivery, to review facilities available to exporters and suggest improvements. The other members of the Group are: Sr.No. Name Designation Name of Bank 1. Shri H.Lal Chief General Manager State Bank of India 2. Shri A.K.S.Rao General Manager CanThe Reserve Bank of India today announced the decision to set up a Working Group under the chairmanship of Shri V.Subrahmanyam, currently Executive Director, Reserve Bank of India in order to improve the procedures for credit delivery, to review facilities available to exporters and suggest improvements. The other members of the Group are: Sr.No. Name Designation Name of Bank 1. Shri H.Lal Chief General Manager State Bank of India 2. Shri A.K.S.Rao General Manager Can
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ઑક્ટો 06, 1998Aggregate Deposits and Gross Bank Credit of All Scheduled Commercial Banks: Quarterly Handout : Last Friday of June 1998The 'Banking Statistics : Quarterly Handout - June 1998'providing data on Aggregate Deposits and Gross Bank Credit of Scheduled Commercial Banks as on last Friday of June 1998, with various classifications, has been published by Reserve Bank of India. The primary data have been collected from the Scheduled Commercial Banks through the BSR-7 returns. Data have been presented according to top hundred centres, population groups, districts, states and bank groups. 2 The tThe 'Banking Statistics : Quarterly Handout - June 1998'providing data on Aggregate Deposits and Gross Bank Credit of Scheduled Commercial Banks as on last Friday of June 1998, with various classifications, has been published by Reserve Bank of India. The primary data have been collected from the Scheduled Commercial Banks through the BSR-7 returns. Data have been presented according to top hundred centres, population groups, districts, states and bank groups. 2 The t
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ઑક્ટો 03, 1998Credit Cards : Additional Facility for NRIsAs a convenience to non-resident Indians (NRIs), the Reserve Bank of India has removed all restrictions on NRIs nominating their relatives or other resident Indians as additional credit card holders against their own foreign currency accounts held overseas. Any NRI can now have an additional credit card issued for a resident of India, payment for which can be made against his foreign currency account held abroad. General permission to this effect is being issued by thAs a convenience to non-resident Indians (NRIs), the Reserve Bank of India has removed all restrictions on NRIs nominating their relatives or other resident Indians as additional credit card holders against their own foreign currency accounts held overseas. Any NRI can now have an additional credit card issued for a resident of India, payment for which can be made against his foreign currency account held abroad. General permission to this effect is being issued by th
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સપ્ટે 10, 1998Asset - Liability Management (ALM) System (Part 1 of 4)RESERVE BANK OF INDIA CENTRAL OFFICE DEPARTMENT OF BANKING OPERATIONS & DEVELOPMENT CENTRE -1, WORLD TRADE CENTRE, CUFFE PARADE, COLABA, MUMBAI-400 005. Telegrams : 'BANKCHALAN' Mumbai Telephone : 2189131-39 Telex No. : 011-86135 Post Box No. : 6089 Fax No. : 0091-22-2183785 0091-22-2188770 Please quote in replay 19 Ref. : DBOD No. .................... 19 . (Sake) DBQD. No. BP. BC.94 /21.04.098 / 98 September 10, 1998 To All Scheduled Commercial Banks (excluding RRESERVE BANK OF INDIA CENTRAL OFFICE DEPARTMENT OF BANKING OPERATIONS & DEVELOPMENT CENTRE -1, WORLD TRADE CENTRE, CUFFE PARADE, COLABA, MUMBAI-400 005. Telegrams : 'BANKCHALAN' Mumbai Telephone : 2189131-39 Telex No. : 011-86135 Post Box No. : 6089 Fax No. : 0091-22-2183785 0091-22-2188770 Please quote in replay 19 Ref. : DBOD No. .................... 19 . (Sake) DBQD. No. BP. BC.94 /21.04.098 / 98 September 10, 1998 To All Scheduled Commercial Banks (excluding R
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સપ્ટે 10, 1998ALM - Guidelines (Part 2 of 4)Over the last few years the Indian financial markets have witnessed wide ranging changes at fast pace. Intense competition for business involving both the assets and liabilities, together with increasing volatility in the domestic interest rates as well as foreign exchange rates, has brought pressure on the management of banks to maintain a good balance among spreads, profitability and long-term viability. These pressures call for structured and comprehensive measuresOver the last few years the Indian financial markets have witnessed wide ranging changes at fast pace. Intense competition for business involving both the assets and liabilities, together with increasing volatility in the domestic interest rates as well as foreign exchange rates, has brought pressure on the management of banks to maintain a good balance among spreads, profitability and long-term viability. These pressures call for structured and comprehensive measures
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સપ્ટે 10, 1998ALM - Principles for the Management of Interest Rate Risk (Part 3 of 4)SUMMARY 1. As part of its on-going efforts to address international bank supervisory issues, the Basle Committee on Banking Supervision1 is issuing the attached paper on the management of interest rate risk. In this, as in many other areas, sound controls are of crucial importance. It is essential that banks have a comprehensive risk management process in place that effectively identifies, measures, monitors and controls interest rate risk exposures, and that is subjeSUMMARY 1. As part of its on-going efforts to address international bank supervisory issues, the Basle Committee on Banking Supervision1 is issuing the attached paper on the management of interest rate risk. In this, as in many other areas, sound controls are of crucial importance. It is essential that banks have a comprehensive risk management process in place that effectively identifies, measures, monitors and controls interest rate risk exposures, and that is subje
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સપ્ટે 10, 1998ALM - A Framework for Measuring and Managing Liquidity (Part 4 of 4)(September 1992) In its work on the supervision of liquidity, the Basle Committee has focused on developing a greater understanding of the way in which international banks manage their liquidity on a global basis, on the premise that supervision of liquidity is particularly effective if based on a dialogue between bank and supervisor. This paper brings together practice and techniques currently employed by major international banks in a single analytical framework. Wh(September 1992) In its work on the supervision of liquidity, the Basle Committee has focused on developing a greater understanding of the way in which international banks manage their liquidity on a global basis, on the premise that supervision of liquidity is particularly effective if based on a dialogue between bank and supervisor. This paper brings together practice and techniques currently employed by major international banks in a single analytical framework. Wh
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ઑગસ્ટ 28, 1998Bank Finance against shares and debenturesDBOD No. ........ Dir.BC.90/13.07.05/98 28 August 1998 6 Bhadra 1920 (Saka) All commercial banks Dear Sir, Bank Finance against shares and debentures - Master Circular As you are aware the Reserve Bank of India has, from time to time, issued a number of guidelines/instructions/directives to banks in regard to advances against shares. To enable banks to have the current instructions at one place, a Master Circular containing alDBOD No. ........ Dir.BC.90/13.07.05/98 28 August 1998 6 Bhadra 1920 (Saka) All commercial banks Dear Sir, Bank Finance against shares and debentures - Master Circular As you are aware the Reserve Bank of India has, from time to time, issued a number of guidelines/instructions/directives to banks in regard to advances against shares. To enable banks to have the current instructions at one place, a Master Circular containing al
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જુલાઈ 03, 1998Aggregate deposits and gross bank credit of all scheduled commercial banks as on the last Friday of March 1998The 'Banking Statistics : Quarterly Handout - March 1998' providing data on aggregate deposits and gross bank credit of scheduled commercial banks as on the last Friday of March 1998, with various classifications, has been published by the Reserve Bank of India. The primary data have been collected from the scheduled commercial banks through the BSR-7 returns. Data have been presented according to top hundred centres, population groups, districts, states and bank grouThe 'Banking Statistics : Quarterly Handout - March 1998' providing data on aggregate deposits and gross bank credit of scheduled commercial banks as on the last Friday of March 1998, with various classifications, has been published by the Reserve Bank of India. The primary data have been collected from the scheduled commercial banks through the BSR-7 returns. Data have been presented according to top hundred centres, population groups, districts, states and bank grou
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જૂન 16, 1998RBI Announces Repo Rate CutThe Reserve bank of India has announced reduction in the repo rate by one percentage point from 6.0 per cent to 5.0 per cent effective Monday, June 15, 1998. P.T. Achuthan Manager Press Release : 1997-98/1206The Reserve bank of India has announced reduction in the repo rate by one percentage point from 6.0 per cent to 5.0 per cent effective Monday, June 15, 1998. P.T. Achuthan Manager Press Release : 1997-98/1206
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જૂન 13, 1998RBI Announces Repo Rate CutThe Reserve bank of India has announced reduction in the repo rate by one percentage point from 6.0 per cent to 5.0 per cent effective Monday, June 15, 1998. P.T. Achuthan Manager Press Release : 1997-98/1206The Reserve bank of India has announced reduction in the repo rate by one percentage point from 6.0 per cent to 5.0 per cent effective Monday, June 15, 1998. P.T. Achuthan Manager Press Release : 1997-98/1206
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મે 28, 1998Khan Working Group submits Full ReportThe Khan Working Group on harmonising the Role of develop- ment financial institutions (DFIs) and banks submitted its full report to the Governor, Reserve Bank of India yesterday. The Working Group had already submitted the summary of its recommen- dations on April 24. The full report contains, besides the sum- mary of recommendations, a historical perspective of banks and DFIs in India, international experience and best practices in financial industry and regulatoryThe Khan Working Group on harmonising the Role of develop- ment financial institutions (DFIs) and banks submitted its full report to the Governor, Reserve Bank of India yesterday. The Working Group had already submitted the summary of its recommen- dations on April 24. The full report contains, besides the sum- mary of recommendations, a historical perspective of banks and DFIs in India, international experience and best practices in financial industry and regulatory
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મે 12, 1998RBI allows two new foreign banks to open branches in IndiaThe Reserve Bank of India has permitted two new foreign banks to open a branch each in India viz. Morgan Guaranty Trust Company of New York, USA a banking subsidiary of JP Morgan & Co. USA and Kredietbank N.V. of Belgium. Both the banks will open their respective branches in Mumbai.</p> (Alpana Killawala) General Manager Press Release : 1997-98/1069The Reserve Bank of India has permitted two new foreign banks to open a branch each in India viz. Morgan Guaranty Trust Company of New York, USA a banking subsidiary of JP Morgan & Co. USA and Kredietbank N.V. of Belgium. Both the banks will open their respective branches in Mumbai.</p> (Alpana Killawala) General Manager Press Release : 1997-98/1069
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એપ્રિલ 24, 1998Summary Recommendations of The Working Group set up by RBISignificant changes suggested in role and operations of DFIs Sweeping changes proposed with regard to State-level Institutions Enabling changes proposed in regulatory/supervisory framework Substantive content of harmonisation between DFIs and Banks spelt out The Summary Recommendations of the Report of the Working Group for Harmonising the Role and Operations of DFIs and Banks was submitted by Shri S.H. Khan, CMD, IDBI and Chairman of the Working Group to the GovernorSignificant changes suggested in role and operations of DFIs Sweeping changes proposed with regard to State-level Institutions Enabling changes proposed in regulatory/supervisory framework Substantive content of harmonisation between DFIs and Banks spelt out The Summary Recommendations of the Report of the Working Group for Harmonising the Role and Operations of DFIs and Banks was submitted by Shri S.H. Khan, CMD, IDBI and Chairman of the Working Group to the Governor
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એપ્રિલ 02, 1998RBI reduces Bank Rate to 10%The Reserve Bank of India has reduced the Bank Rate by one half of one percentage point, i.e. from `10.5 per cent per annum' to `10.0 per cent per annum' with effect from the close of business on April 2, 1998. (Alpana Killawala) General Manager Press Release : 1997-98/923The Reserve Bank of India has reduced the Bank Rate by one half of one percentage point, i.e. from `10.5 per cent per annum' to `10.0 per cent per annum' with effect from the close of business on April 2, 1998. (Alpana Killawala) General Manager Press Release : 1997-98/923
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માર્ચ 23, 1998RBI reduces CRRThe Reserve Bank of India has decided to reduce the cash reserve ratio (CRR) by 0.50 percentage point in two phases. Consequently, the CRR stipulation which is currently at 10.5 per cent will be reduced to 10.0 per cent in two phases of 0.25 percentage point each effective March 28 and April 11, 1998. (Alpana Killawala) General Manager Press Release : 1997-98/876 Cash Reserve Ratio Under Section 42(1) of the Reserve Bank of India Act, 1934, all scheduled commercial baThe Reserve Bank of India has decided to reduce the cash reserve ratio (CRR) by 0.50 percentage point in two phases. Consequently, the CRR stipulation which is currently at 10.5 per cent will be reduced to 10.0 per cent in two phases of 0.25 percentage point each effective March 28 and April 11, 1998. (Alpana Killawala) General Manager Press Release : 1997-98/876 Cash Reserve Ratio Under Section 42(1) of the Reserve Bank of India Act, 1934, all scheduled commercial ba
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ડિસે 08, 1997Working Group for harmonising the role and operations of DFIs and BanksThe Reserve Bank of India today announced constitution of a Working Group with a view to harmonising the role and operations of development finance institutions (DFIs) and banks. Headed by Shri S.H. Khan, Chairman & Managing Director, Industrial Development Bank of India, the Working Group will have the following terms of reference: <ol type=i> To review the role, structure and operations of DFIs and commercial banks in emerging operating environment and toThe Reserve Bank of India today announced constitution of a Working Group with a view to harmonising the role and operations of development finance institutions (DFIs) and banks. Headed by Shri S.H. Khan, Chairman & Managing Director, Industrial Development Bank of India, the Working Group will have the following terms of reference: <ol type=i> To review the role, structure and operations of DFIs and commercial banks in emerging operating environment and to
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ડિસે 06, 1997Review of flow of credit from banking sectorShri S.P. Talwar, Deputy Governor, RBI met CMDs and Senior Officials of leading public sector banks today at Mumbai to discuss the prevailing situation in the credit dispensation by the banks to the commercial sector. At the outset he mentioned that the recent measures announced by the Reserve Bank keeping in view the prevailing situation in finance and forex markets were temporary and that they should not come in the way of flow of credit to the commercial sector. ReShri S.P. Talwar, Deputy Governor, RBI met CMDs and Senior Officials of leading public sector banks today at Mumbai to discuss the prevailing situation in the credit dispensation by the banks to the commercial sector. At the outset he mentioned that the recent measures announced by the Reserve Bank keeping in view the prevailing situation in finance and forex markets were temporary and that they should not come in the way of flow of credit to the commercial sector. Re
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જૂન 25, 1997RBI reduces Bank Rate by one percentage pointOn a review of monetary and credit developments since the announcement of the Monetary and Credit Policy in April 1997, the Reserve Bank of India has today decided to reduce the Bank Rate. With effect from the close of business today (June 25, 1997), the Bank Rate will be reduced by one percentage point, i.e., from the present level of 11 per cent per annum to 10 per cent per annum. The interest rates on domestic term deposits for maturity of 30 days and up to one yeaOn a review of monetary and credit developments since the announcement of the Monetary and Credit Policy in April 1997, the Reserve Bank of India has today decided to reduce the Bank Rate. With effect from the close of business today (June 25, 1997), the Bank Rate will be reduced by one percentage point, i.e., from the present level of 11 per cent per annum to 10 per cent per annum. The interest rates on domestic term deposits for maturity of 30 days and up to one yea
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એપ્રિલ 02, 1997Aggregate deposits and gross bank credit of all scheduled commercial banks as on the last Friday of December 1996According to the data on aggregate deposits and gross bank credit of scheduled commercial banks as on the last Friday of December 1996 collected through the BSR-7 returns, the top 100 centres arranged according to the size of deposits accounted for 59.0 per cent of the total deposits. Similarly, the top 100 centres arranged according to the size of bank credit constituted 71.6 per cent of the total bank credit. Nationalised banks as a group contributed 55.1 per cent oAccording to the data on aggregate deposits and gross bank credit of scheduled commercial banks as on the last Friday of December 1996 collected through the BSR-7 returns, the top 100 centres arranged according to the size of deposits accounted for 59.0 per cent of the total deposits. Similarly, the top 100 centres arranged according to the size of bank credit constituted 71.6 per cent of the total bank credit. Nationalised banks as a group contributed 55.1 per cent o
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જાન્યુ 08, 1997Chancellor Housing Development Finance & Investment (I) Ltd. prohibited from accepting depositsThe Reserve Bank of India, in exercise of the powers vested in it under sub-section (4) of Section 45K of the Reserve Bank of India Act, 1934, has prohibited the Chancellor Housing Development Finance & Investment (I) Ltd., Registered Office at Nutan Bazar, P.O. Dhubulia, Dist. Nadia, West Bengal,</b> from accepting deposits from any person including the existing depositors/certificate holders, in any form, whether by way of subscription/instalment to any scThe Reserve Bank of India, in exercise of the powers vested in it under sub-section (4) of Section 45K of the Reserve Bank of India Act, 1934, has prohibited the Chancellor Housing Development Finance & Investment (I) Ltd., Registered Office at Nutan Bazar, P.O. Dhubulia, Dist. Nadia, West Bengal,</b> from accepting deposits from any person including the existing depositors/certificate holders, in any form, whether by way of subscription/instalment to any sc
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જાન્યુ 06, 1997Aggregate deposits and gross bank credit of all scheduled commercial banks as on the last Friday of September 1996According to the data on aggregate deposits and gross bank credit of scheduled commercial banks as on the last friday of September 1996 collected through the BSR-7 quarterly returns, the top hundred centres arranged according to the size of deposits accounted for 58.8 per cent of the total deposits. Similarly, the top hundred centres arranged according to the size of bank credit constituted 71.5 per cent of the total bank credit. Nationalised banks as a group contribuAccording to the data on aggregate deposits and gross bank credit of scheduled commercial banks as on the last friday of September 1996 collected through the BSR-7 quarterly returns, the top hundred centres arranged according to the size of deposits accounted for 58.8 per cent of the total deposits. Similarly, the top hundred centres arranged according to the size of bank credit constituted 71.5 per cent of the total bank credit. Nationalised banks as a group contribu
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ઑગસ્ટ 24, 1996Guidelines for Setting up of Local Area Banks in the Private SectorWith a view to providing institutional mechanisms for promoting rural savings as well as for the provision of credit for viable economic activities in the local areas, it has been decided to allow the establishment of new local banks in the private sector. This is expected to bridge the gaps in credit availability and enhance the institutional credit framework in the rural and semi-urban areas. The following are the guidelines for establishment of the new local banks:With a view to providing institutional mechanisms for promoting rural savings as well as for the provision of credit for viable economic activities in the local areas, it has been decided to allow the establishment of new local banks in the private sector. This is expected to bridge the gaps in credit availability and enhance the institutional credit framework in the rural and semi-urban areas. The following are the guidelines for establishment of the new local banks:
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જાન્યુ 22, 1993Guidelines on Entry of New Private Sector BanksFor well over two decades, after the nationalisation of 14 larger banks in 1969, no banks have been allowed to be set up in the private sector. Progressively, over this period, public sector banks have expanded their branch network considerably and catered to the socio-economic needs of large masses of the population, especially the weaker section and those in the rural areas. The public sector banks now have 91 per cent of the total bank branches and handle 85 per ceFor well over two decades, after the nationalisation of 14 larger banks in 1969, no banks have been allowed to be set up in the private sector. Progressively, over this period, public sector banks have expanded their branch network considerably and catered to the socio-economic needs of large masses of the population, especially the weaker section and those in the rural areas. The public sector banks now have 91 per cent of the total bank branches and handle 85 per ce
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ઑગસ્ટ 31, 2023Lending and Deposit Rates of Scheduled Commercial Banks - August 2023Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) for the month of August 2023. Highlights: Lending Rates: The weighted average lending rate (WALR) on fresh rupee loans of SCBs increased by 24 basis points (bps) from 9.20 per cent in June 2023 to 9.44 per cent in July 2023. The WALR on outstanding rupee loans of SCBs increased by 2 bps from 9.82 per cent in June 2023 to 9.84 per cent in JulyData on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) for the month of August 2023. Highlights: Lending Rates: The weighted average lending rate (WALR) on fresh rupee loans of SCBs increased by 24 basis points (bps) from 9.20 per cent in June 2023 to 9.44 per cent in July 2023. The WALR on outstanding rupee loans of SCBs increased by 2 bps from 9.82 per cent in June 2023 to 9.84 per cent in July
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ઑગસ્ટ 29, 2023Financial Action Task Force (FATF) High risk and other monitored jurisdictions – June 23, 2023The Financial Action Task Force (FATF) vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ – June 2023, has called on its members and other jurisdictions to refer to the statement on Democratic People’s Republic of Korea (DPRK) and Iran adopted in February 2020 which remains in effect. Further, Myanmar was added to the list of High-Risk Jurisdictions subject to a Call for Action under in the October 2022 FATF plenary and FATF has called on itsThe Financial Action Task Force (FATF) vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ – June 2023, has called on its members and other jurisdictions to refer to the statement on Democratic People’s Republic of Korea (DPRK) and Iran adopted in February 2020 which remains in effect. Further, Myanmar was added to the list of High-Risk Jurisdictions subject to a Call for Action under in the October 2022 FATF plenary and FATF has called on its
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ઑગસ્ટ 23, 2023Scheduled Banks’ Statement of Position in India as on Friday, August 11, 2023(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs, SFBs and PBs) ALL SCHEDULED BANKS 12-Aug-22 28-JUL-2023* 11-AUG-2023* 12-Aug-22 28-JUL-2023* 11-AUG-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 187492.79 246865.38 254214.15 190678.67 249123.92 256414.72** b) Borrowings from banks 48045.25 193269.49 189512.15 48089.64 193383.5 189598.83 c) Other demand & time liabilities 42642.13 64799.34 66123.47 43166.1 65498.22(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs, SFBs and PBs) ALL SCHEDULED BANKS 12-Aug-22 28-JUL-2023* 11-AUG-2023* 12-Aug-22 28-JUL-2023* 11-AUG-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 187492.79 246865.38 254214.15 190678.67 249123.92 256414.72** b) Borrowings from banks 48045.25 193269.49 189512.15 48089.64 193383.5 189598.83 c) Other demand & time liabilities 42642.13 64799.34 66123.47 43166.1 65498.22
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ઑગસ્ટ 17, 2023RBI launches उद्गम - UDGAM - Centralised Web Portal for searching Unclaimed DepositsThe Governor, Reserve Bank of India today launched a Centralised Web Portal उद्गम UDGAM (Unclaimed Deposits – Gateway to Access inforMation). This portal has been developed by RBI for use by members of public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks at one place. The Reserve Bank of India had announced the development of a centralised web portal for searching unclaimed deposits as part of the Statement on DevelThe Governor, Reserve Bank of India today launched a Centralised Web Portal उद्गम UDGAM (Unclaimed Deposits – Gateway to Access inforMation). This portal has been developed by RBI for use by members of public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks at one place. The Reserve Bank of India had announced the development of a centralised web portal for searching unclaimed deposits as part of the Statement on Devel
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ઑગસ્ટ 09, 2023Scheduled Banks’ Statement of Position in India as on Friday, July 28, 2023(Amount in ₹ Crore) SCHEDULED COMMERCIAL BANKS (Including RRBs, SFBs and PBs) ALL SCHEDULED BANKS 29-Jul-22 14-JUL-2023* 28-JUL-2023* 29-Jul-22 14-JUL-2023* 28-JUL-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 186515.78 245861.47 246865.38 189749.92 248180.98 249123.92** b) Borrowings from banks 44372.25 196330.06 193317.75 44571.36 196446.92 193431.76 c) Other demand & time liabilities 42424.95 63687.25 64791.75 42937.1 64379.6(Amount in ₹ Crore) SCHEDULED COMMERCIAL BANKS (Including RRBs, SFBs and PBs) ALL SCHEDULED BANKS 29-Jul-22 14-JUL-2023* 28-JUL-2023* 29-Jul-22 14-JUL-2023* 28-JUL-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 186515.78 245861.47 246865.38 189749.92 248180.98 249123.92** b) Borrowings from banks 44372.25 196330.06 193317.75 44571.36 196446.92 193431.76 c) Other demand & time liabilities 42424.95 63687.25 64791.75 42937.1 64379.6
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જુલાઈ 31, 2023Lending and Deposit Rates of Scheduled Commercial Banks - July 2023Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) for the month of July 2023. Highlights: Lending Rates: The weighted average lending rate (WALR) on fresh rupee loans of SCBs decreased by 7 basis points (bps) from 9.27 per cent in May 2023 to 9.20 per cent in June 2023. The WALR on outstanding rupee loans of SCBs increased by 4 bps from 9.78 per cent in May 2023 to 9.82 per cent in June 2023Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) for the month of July 2023. Highlights: Lending Rates: The weighted average lending rate (WALR) on fresh rupee loans of SCBs decreased by 7 basis points (bps) from 9.27 per cent in May 2023 to 9.20 per cent in June 2023. The WALR on outstanding rupee loans of SCBs increased by 4 bps from 9.78 per cent in May 2023 to 9.82 per cent in June 2023
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જુલાઈ 28, 2023Scheduled Banks’ Statement of Position in India as on Friday, July 14, 2023(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs, SFBs and PBs) ALL SCHEDULED BANKS 15-Jul-22 30-JUN-2023* 14-JUL-2023* 15-Jul-22 30-JUN-2023* 14-JUL-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 186227.53 257612.63 245853.35 189496.84 260024.58 248172.86** b) Borrowings from banks 61405.6 39739.1 162153.06 61413.6 39869 162269.92 c) Other demand & time liabilities 41115.41 61504.47 63688.56 41833.48 62178.02 64380(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs, SFBs and PBs) ALL SCHEDULED BANKS 15-Jul-22 30-JUN-2023* 14-JUL-2023* 15-Jul-22 30-JUN-2023* 14-JUL-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 186227.53 257612.63 245853.35 189496.84 260024.58 248172.86** b) Borrowings from banks 61405.6 39739.1 162153.06 61413.6 39869 162269.92 c) Other demand & time liabilities 41115.41 61504.47 63688.56 41833.48 62178.02 64380
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જુલાઈ 15, 2023Reserve Bank of India and Central Bank of the UAE sign two MoUs to (i) establish a Framework to Promote the Use of Local Currencies for Cross-border Transactions and (ii) cooperation for interlinking their payment and messaging systemsThe Reserve Bank of India (RBI) and the Central Bank of UAE (CBUAE) signed two MoUs today in Abu Dhabi for (i) establishing a Framework to Promote the Use of Local Currencies viz. the Indian rupee (INR) and the UAE Dirham (AED) for cross-border transactions; and (ii) cooperation for interlinking their payment and messaging systems. The MoUs were signed by the Governor of the Reserve Bank of India, Shri Shaktikanta Das and the Governor of the Central Bank of UAE, H.E.The Reserve Bank of India (RBI) and the Central Bank of UAE (CBUAE) signed two MoUs today in Abu Dhabi for (i) establishing a Framework to Promote the Use of Local Currencies viz. the Indian rupee (INR) and the UAE Dirham (AED) for cross-border transactions; and (ii) cooperation for interlinking their payment and messaging systems. The MoUs were signed by the Governor of the Reserve Bank of India, Shri Shaktikanta Das and the Governor of the Central Bank of UAE, H.E.
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જુલાઈ 13, 2023Scheduled Banks’ Statement of Position in India as on Friday, June 30, 2023(Amount in Crore of ₹) SCHEDULED COMMERCIAL BANKS(Including RRBs and SFBs) ALL SCHEDULED BANKS 01-Jul-22 16-JUN-2023* 30-JUN-2023* 01-Jul-22 16-JUN-2023* 30-JUN-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 193544.46 244966.08 263210.19 196881.82 247408.54 265622.14** b) Borrowings from banks 69209.06 39769.91 39666.57 69298.08 39846.03 39796.47 c) Other demand & time liabilities 39660.73 61063.19 61850.28 40160.42 61719.32 6252(Amount in Crore of ₹) SCHEDULED COMMERCIAL BANKS(Including RRBs and SFBs) ALL SCHEDULED BANKS 01-Jul-22 16-JUN-2023* 30-JUN-2023* 01-Jul-22 16-JUN-2023* 30-JUN-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 193544.46 244966.08 263210.19 196881.82 247408.54 265622.14** b) Borrowings from banks 69209.06 39769.91 39666.57 69298.08 39846.03 39796.47 c) Other demand & time liabilities 39660.73 61063.19 61850.28 40160.42 61719.32 6252
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