Write off of unrealised export bills –
Simplification of procedure
A.P.(DIR Series ) Circular No. 30 (April 4 , 2001)

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI 400 001.A.P.(DIR Series ) Circular No. 30 April 4 , 2001ToAll Authorised Dealers in Foreign ExchangeDear Sirs,"Write off" of unrealised export bills –Simplification of procedureAttention of authorised dealers is invited to paragraph C.18 of AP(DIR Series) Circular No.12 dated September 9, 2000 in terms of which they have been permitted to allow `write off’ of unrealised export dues, under certain con

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI 400 001.A.P.(DIR Series ) Circular No. 30 April 4 , 2001ToAll Authorised Dealers in Foreign ExchangeDear Sirs,"Write off" of unrealised export bills –Simplification of procedureAttention of authorised dealers is invited to paragraph C.18 of AP(DIR Series) Circular No.12 dated September 9, 2000 in terms of which they have been permitted to allow `write off’ of unrealised export dues, under certain con

Write off of unrealised export bills – Simplification of procedure A.P.(DIR Series ) Circular No. 30 (April 4 , 2001)

Amendments to NBFC Regulations-Ceiling on rate of interest

DNBS (PD) CC.No.14/02.01/2000-01March 31, 2001To All Non-Banking Financial Companies including Chit Fund and Nidhi Companies Dear Sirs,Amendments to NBFC Regulations-Ceiling on rate of interestIt has been decided that, keeping in view the prevailing interest rates in the entire financial system, the interest rates on deposits of NBFCs should be reduced by two percentage points, from the present level of 16 percent per annum to 14 per cent per annum, with immediate eff

DNBS (PD) CC.No.14/02.01/2000-01March 31, 2001To All Non-Banking Financial Companies including Chit Fund and Nidhi Companies Dear Sirs,Amendments to NBFC Regulations-Ceiling on rate of interestIt has been decided that, keeping in view the prevailing interest rates in the entire financial system, the interest rates on deposits of NBFCs should be reduced by two percentage points, from the present level of 16 percent per annum to 14 per cent per annum, with immediate eff

Amendments to NBFC Regulations-Ceiling on rate of interest

Section 42 of Reserve Bank of India Act, 1934 - Cash Reserve Ratio (CRR) -Maintenance of minimum level of 65 per cent on a daily basis.

DBOD BC No. 99/ 12.01.001 /2000-0131.03.2001All Scheduled Commercial Banks(Excluding Regional Rural Banks)Dear Sir,Section 42 of Reserve Bank of India Act, 1934 - Cash Reserve Ratio (CRR)-Maintenance of minimum level of 65 per cent on a daily basis.As per the extant instructions vide para 2 of DBOD. No.BP.BC.169/21.01.002/2000 dated May 03, 2000 banks are required to maintain a minimum level of 65 per cent of the CRR on each of the days of the reporting fortnight begi

DBOD BC No. 99/ 12.01.001 /2000-0131.03.2001All Scheduled Commercial Banks(Excluding Regional Rural Banks)Dear Sir,Section 42 of Reserve Bank of India Act, 1934 - Cash Reserve Ratio (CRR)-Maintenance of minimum level of 65 per cent on a daily basis.As per the extant instructions vide para 2 of DBOD. No.BP.BC.169/21.01.002/2000 dated May 03, 2000 banks are required to maintain a minimum level of 65 per cent of the CRR on each of the days of the reporting fortnight begi

Section 42 of Reserve Bank of India Act, 1934 - Cash Reserve Ratio (CRR) -Maintenance of minimum level of 65 per cent on a daily basis.

Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2001

THE GAZETTE OF INDIAEXTRAORDINARYPART II – Section 3 – Sub-section (ii)PUBLISHED BY AUTHORITY[No.215]FRIDAY, MARCH 30, 2001MINISTRY OF FINANCE(Department of Economic Affairs)NOTIFICATIONNew Delhi, the 30th March, 2001S.O. 301(E) – In exercise of the powers conferred by section 5 and sub-section (1) and Clause (a) of sub-section (2) of section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in consultation with the Reserve Bank, the Central Government

THE GAZETTE OF INDIAEXTRAORDINARYPART II – Section 3 – Sub-section (ii)PUBLISHED BY AUTHORITY[No.215]FRIDAY, MARCH 30, 2001MINISTRY OF FINANCE(Department of Economic Affairs)NOTIFICATIONNew Delhi, the 30th March, 2001S.O. 301(E) – In exercise of the powers conferred by section 5 and sub-section (1) and Clause (a) of sub-section (2) of section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in consultation with the Reserve Bank, the Central Government

Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2001

Treatment of Restructured Accounts

DBOD.No.BP.BC.98/ 21.04.048/ 2000-01March 30, 2001All Commercial Banks(excluding RRBs and LABS)Dear Sir,Treatment of Restructured AccountsPlease refer to paragraph 3 of our circular DBOD.No.BP.BC.82/21.04.048/2000-01 dated February 26, 2001 advising banks that the instructions relating to the regulatory treatment of restructured accounts would be conveyed shortly. The matter has since been examined and we advise as under.2. In terms of our circular DBOD.No.BP.BC.129/2

DBOD.No.BP.BC.98/ 21.04.048/ 2000-01March 30, 2001All Commercial Banks(excluding RRBs and LABS)Dear Sir,Treatment of Restructured AccountsPlease refer to paragraph 3 of our circular DBOD.No.BP.BC.82/21.04.048/2000-01 dated February 26, 2001 advising banks that the instructions relating to the regulatory treatment of restructured accounts would be conveyed shortly. The matter has since been examined and we advise as under.2. In terms of our circular DBOD.No.BP.BC.129/2

Treatment of Restructured Accounts

Prompt Corrective Action (PCA)

30th March 2001DBS.CO.PPD/349 /11.01.039 /2000-2001All Scheduled Commercial Banks (excluding RRBs) Dear Sirs,Prompt Corrective Action (PCA)A system of Prompt Corrective Action (PCA), based on pre-determined rule-based structured early intervention, is proposed to be put in place as part of our constant efforts to enhance the existing supervisory framework. The "Core Principles for Effective Banking Supervision" drawn up by the Basel Committee in 1997, which were in th

30th March 2001DBS.CO.PPD/349 /11.01.039 /2000-2001All Scheduled Commercial Banks (excluding RRBs) Dear Sirs,Prompt Corrective Action (PCA)A system of Prompt Corrective Action (PCA), based on pre-determined rule-based structured early intervention, is proposed to be put in place as part of our constant efforts to enhance the existing supervisory framework. The "Core Principles for Effective Banking Supervision" drawn up by the Basel Committee in 1997, which were in th

Prompt Corrective Action (PCA)

Receipt of Foreign Contributions by
Associations/Organisations in India
under Foreign Contribution (Regulation) Act, 1976

DBOD.No.BP.BC. 92 /21.01.023/2000-1 March 22 , 2001 All Commercial Banks (Excluding RRBs) Receipt of Foreign Contributions by Associations/Organisations in India under Foreign Contribution (Regulation) Act, 1976 Please refer to our circular DBOD.No.BP.BC.74/21.01.023/2000-01 dated February 1, 2001, advising banks the exemption granted by Government of India, Ministry of Home Affairs, with immediate effect and upto 31st March 2001 to all associations/organisations (oth

DBOD.No.BP.BC. 92 /21.01.023/2000-1 March 22 , 2001 All Commercial Banks (Excluding RRBs) Receipt of Foreign Contributions by Associations/Organisations in India under Foreign Contribution (Regulation) Act, 1976 Please refer to our circular DBOD.No.BP.BC.74/21.01.023/2000-01 dated February 1, 2001, advising banks the exemption granted by Government of India, Ministry of Home Affairs, with immediate effect and upto 31st March 2001 to all associations/organisations (oth

Receipt of Foreign Contributions by Associations/Organisations in India under Foreign Contribution (Regulation) Act, 1976

Annexing of Balance Sheet, Profit & Loss Account, Auditors’ Report and Directors’ Report in respect of Subsidiaries to Parent Bank’s Balance Sheet

DBOD No. BP.BC 96 /21.04.018/00-0128 March 2001All Public Sector BanksDear Sir,Annexing of Balance Sheet, Profit & Loss Account, Auditors’ Report and Directors’ Report in respect of Subsidiaries to Parent Bank’s Balance SheetPlease refer to paragraph 3 of our circular DBOD No.BP.BC.31/21.04.048/00-01 dated October 10, 2000 wherein it was advised that beginning from the year ending March 2001, public sector banks should also annex the balance sheet, profit and loss

DBOD No. BP.BC 96 /21.04.018/00-0128 March 2001All Public Sector BanksDear Sir,Annexing of Balance Sheet, Profit & Loss Account, Auditors’ Report and Directors’ Report in respect of Subsidiaries to Parent Bank’s Balance SheetPlease refer to paragraph 3 of our circular DBOD No.BP.BC.31/21.04.048/00-01 dated October 10, 2000 wherein it was advised that beginning from the year ending March 2001, public sector banks should also annex the balance sheet, profit and loss

Annexing of Balance Sheet, Profit & Loss Account, Auditors’ Report and Directors’ Report in respect of Subsidiaries to Parent Bank’s Balance Sheet

Voluntary Retirement Scheme (VRS) Expenditure –
Accounting and Prudential Regulatory Treatment

DBOD.BP. BC. 90 /21.04.018/2000-01March 22, 2001All Public Sector BanksDear Sir,Voluntary Retirement Scheme (VRS) Expenditure –Accounting and Prudential Regulatory TreatmentPlease refer to our instructions issued earlier vide Circulars DBOD.No.BP.BC.73 and 87/21.04.018/2000-01 dated January 30, 2001 and March 7, 2001 respectively. It is observed from some references received on the subject that the banks are not in a position to complete the process of acceptance of V

DBOD.BP. BC. 90 /21.04.018/2000-01March 22, 2001All Public Sector BanksDear Sir,Voluntary Retirement Scheme (VRS) Expenditure –Accounting and Prudential Regulatory TreatmentPlease refer to our instructions issued earlier vide Circulars DBOD.No.BP.BC.73 and 87/21.04.018/2000-01 dated January 30, 2001 and March 7, 2001 respectively. It is observed from some references received on the subject that the banks are not in a position to complete the process of acceptance of V

Voluntary Retirement Scheme (VRS) Expenditure – Accounting and Prudential Regulatory Treatment

Risk Weight on deposits placed with SIDBI/NABARD
in lieu of shortfall in lending to priority sector

BP.BC. 91 /21.01.002/2000March 22, 2001All Commercial Banks(excluding Regional Rural Banks)Dear Sir,Risk Weight on deposits placed with SIDBI/NABARD in lieu of shortfall in lending to priority sectorAs you are aware, scheduled commercial banks (other than foreign banks operating in India), are required to make good the shortfall in the lending sub-target to agriculture sector by depositing an amount equivalent to the shortfall with RIDF, set up in NABARD, subject to m

BP.BC. 91 /21.01.002/2000March 22, 2001All Commercial Banks(excluding Regional Rural Banks)Dear Sir,Risk Weight on deposits placed with SIDBI/NABARD in lieu of shortfall in lending to priority sectorAs you are aware, scheduled commercial banks (other than foreign banks operating in India), are required to make good the shortfall in the lending sub-target to agriculture sector by depositing an amount equivalent to the shortfall with RIDF, set up in NABARD, subject to m

Risk Weight on deposits placed with SIDBI/NABARD in lieu of shortfall in lending to priority sector