Non - acceptance of Rs.500/- denomination notes

DCM. 300 /08.04.21/2000-2001January 5, 2001The ChairmanAll Commercial and Co-operative BanksDear Sir,Non - acceptance of Rs.500/- denomination notesIt has been brought to our notice that some bank branches are either not accepting Rs.500/- denomination notes or do so after getting their numbers, etc. listed by the tenderers.2.We would, therefore, like to draw your attention to our letter DCM.No.927/08.06.01/97-98 dated 18th June 1998 and once again clarify that all Rs

DCM. 300 /08.04.21/2000-2001January 5, 2001The ChairmanAll Commercial and Co-operative BanksDear Sir,Non - acceptance of Rs.500/- denomination notesIt has been brought to our notice that some bank branches are either not accepting Rs.500/- denomination notes or do so after getting their numbers, etc. listed by the tenderers.2.We would, therefore, like to draw your attention to our letter DCM.No.927/08.06.01/97-98 dated 18th June 1998 and once again clarify that all Rs

Non - acceptance of Rs.500/- denomination notes

Foreign Exchange Management (Transfer or Issue of
Security by a Person Resident outside India)
(Amendment) Regulations, 2000

Notification No. FEMA 32 /2000-RB dated 26th December 2000 Foreign Exchange Management (Transfer or Issue ofSecurity by a Person Resident outside India)(Amendment) Regulations, 2000 In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in partial modification of its notification No. FEMA 20/2000-RB dated 3rd May, 2000, the Reserve Bank of India makes the following

Notification No. FEMA 32 /2000-RB dated 26th December 2000 Foreign Exchange Management (Transfer or Issue ofSecurity by a Person Resident outside India)(Amendment) Regulations, 2000 In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in partial modification of its notification No. FEMA 20/2000-RB dated 3rd May, 2000, the Reserve Bank of India makes the following

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2000

Interest Rates on Deposits

DBOD No. Dir.BC. 62/13.03.00/2000-2001January 03, 2001Pausha 13,1922(Saka)Interest Rates on DepositsIn exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949 and in partial modification of its Directive DBOD.No.Dir. BC.46/13.03.00/2000-2001 dated November 4, 2000, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, hereby directs that the existing sub-clause (iii) of clause

DBOD No. Dir.BC. 62/13.03.00/2000-2001January 03, 2001Pausha 13,1922(Saka)Interest Rates on DepositsIn exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949 and in partial modification of its Directive DBOD.No.Dir. BC.46/13.03.00/2000-2001 dated November 4, 2000, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, hereby directs that the existing sub-clause (iii) of clause

Interest Rates on Deposits

Foreign Currency (Non-Resident) Accounts (Banks) Scheme

DBOD No. Dir.BC. 63/13.03.00/2000-2001January 03, 2001Pausha 13,1922(Saka)Foreign Currency (Non-Resident) Accounts (Banks) SchemeIn exercise of the powers conferred by Sections 21 and 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 directs that in the Bank's directive DBOD.No.Dir.BC.48/13.03.00/2000-2001 dated November 4, 2000, the existing sub-clause (iii) o

DBOD No. Dir.BC. 63/13.03.00/2000-2001January 03, 2001Pausha 13,1922(Saka)Foreign Currency (Non-Resident) Accounts (Banks) SchemeIn exercise of the powers conferred by Sections 21 and 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 directs that in the Bank's directive DBOD.No.Dir.BC.48/13.03.00/2000-2001 dated November 4, 2000, the existing sub-clause (iii) o

Foreign Currency (Non-Resident) Accounts (Banks) Scheme

Payment of interest on the term
deposit of a deceased depositor

DBOD No.Dir.BC. 64/13.03.00/2000-2001January 03, 2001Pausha 13, 1922(Saka)All Commercial Banks(Including Regional Rural Banks/Local Area Banks)Dear SirPayment of interest on the term deposit of a deceased depositorPlease refer to the paragraph 14 of our Directive DBOD No.Dir.BC.46/13.03.00/ 2000-2001 dated November 4, 2000 and paragraph 9 of our Directive DBOD No.Dir.BC.48/13.03.00/2000-2001 dated November 4, 2000 regarding payment of interest on the deposit account o

DBOD No.Dir.BC. 64/13.03.00/2000-2001January 03, 2001Pausha 13, 1922(Saka)All Commercial Banks(Including Regional Rural Banks/Local Area Banks)Dear SirPayment of interest on the term deposit of a deceased depositorPlease refer to the paragraph 14 of our Directive DBOD No.Dir.BC.46/13.03.00/ 2000-2001 dated November 4, 2000 and paragraph 9 of our Directive DBOD No.Dir.BC.48/13.03.00/2000-2001 dated November 4, 2000 regarding payment of interest on the deposit account o

Payment of interest on the term deposit of a deceased depositor

Safeguards for opening of and granting
loans against non-resident deposits

DBOD No. Dir.BC 66/13.03.00/2000January 08, 2001Pausha 18,1922(S)All Commercial BanksDear Sirs,Safeguards for opening of and grantingloans against non-resident depositsIn order to check the instances of cases of cheating/fraud in deposit accounts of Non-Resident Indians (NRIs), banks were advised to observe safeguards while opening the deposit accounts as well as while granting loans and advances against such deposits in terms of our circulars DBOD No. Dir.BC. 8/13.01

DBOD No. Dir.BC 66/13.03.00/2000January 08, 2001Pausha 18,1922(S)All Commercial BanksDear Sirs,Safeguards for opening of and grantingloans against non-resident depositsIn order to check the instances of cases of cheating/fraud in deposit accounts of Non-Resident Indians (NRIs), banks were advised to observe safeguards while opening the deposit accounts as well as while granting loans and advances against such deposits in terms of our circulars DBOD No. Dir.BC. 8/13.01

Safeguards for opening of and granting loans against non-resident deposits

Foreign Exchange Management Act, 1999 –
Investment in Indian Venture Capital Undertakings
by registered Foreign Venture Capital Investors
A.P. (DIR Series) Circular No.24 (January 6, 2001)

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI – 400 001A.P. (DIR Series) Circular No.24January 6, 2001ToAll Authorised Dealers in Foreign ExchangeDear Sirs,Foreign Exchange Management Act, 1999 –Investment in Indian Venture Capital Undertakingsby registered Foreign Venture Capital Investors Attention of authorised dealers is invited to "Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 20

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI – 400 001A.P. (DIR Series) Circular No.24January 6, 2001ToAll Authorised Dealers in Foreign ExchangeDear Sirs,Foreign Exchange Management Act, 1999 –Investment in Indian Venture Capital Undertakingsby registered Foreign Venture Capital Investors Attention of authorised dealers is invited to "Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 20

Foreign Exchange Management Act, 1999 – Investment in Indian Venture Capital Undertakings by registered Foreign Venture Capital Investors A.P. (DIR Series) Circular No.24 (January 6, 2001)

Interest Rate Surcharge on Import Finance

IECD.No. 8 / 08.14.01/2000-01January 5, 2001The Chairmen/ Chief Executivesof commercial banksDear Sirs,Interest Rate Surcharge on Import Finance Please refer to our circular IECD. No.16/08.14.01/99-2000 dated May 25, 2000 regarding introduction of the levy of the interest rate surcharge on import finance. On a review of the current situation, it has been decided to withdraw the interest rate surcharge on import finance effective January 6, 2001. Accordingly, fresh dra

IECD.No. 8 / 08.14.01/2000-01January 5, 2001The Chairmen/ Chief Executivesof commercial banksDear Sirs,Interest Rate Surcharge on Import Finance Please refer to our circular IECD. No.16/08.14.01/99-2000 dated May 25, 2000 regarding introduction of the levy of the interest rate surcharge on import finance. On a review of the current situation, it has been decided to withdraw the interest rate surcharge on import finance effective January 6, 2001. Accordingly, fresh dra

Interest Rate Surcharge on Import Finance

Interest Rate on Export Credit

IECD. No. 9 /04.02.01/2000-01January 5, 2001The Chairmen/Chief Executivesof commercial banksDear Sirs,Interest Rate on Export CreditPlease refer to our circular IECD.No.15/04.02.01/99-2000 dated May 25, 2000 regarding prescription of interest rate at 25 per cent per annum (minimum) for Export Credit Not Otherwise Specified (ECNOS) at post-shipment stage applicable to overdue export bills. 2. On a review of the current situation, it has been decided that the prescripti

IECD. No. 9 /04.02.01/2000-01January 5, 2001The Chairmen/Chief Executivesof commercial banksDear Sirs,Interest Rate on Export CreditPlease refer to our circular IECD.No.15/04.02.01/99-2000 dated May 25, 2000 regarding prescription of interest rate at 25 per cent per annum (minimum) for Export Credit Not Otherwise Specified (ECNOS) at post-shipment stage applicable to overdue export bills. 2. On a review of the current situation, it has been decided that the prescripti

Interest Rate on Export Credit

Foreign Exchange Management Act, 1999 –Returns and Statements
A.P. (DIR Series) Circular No.23 (December 30, 2000)

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI-400 001A.P. (DIR Series) Circular No.23December 30, 2000ToAll Authorised Dealers in Foreign ExchangeDear Sirs,Foreign Exchange Management Act, 1999 –Returns and Statements Attention of authorised dealers is invited to paragraph 3 of A.D.(M.A. Series) Circular No.11 dated May 16, 2000, advising them to be guided by the provisions of the Exchange Control Manual (1993 edition) regarding matters listed i

RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI-400 001A.P. (DIR Series) Circular No.23December 30, 2000ToAll Authorised Dealers in Foreign ExchangeDear Sirs,Foreign Exchange Management Act, 1999 –Returns and Statements Attention of authorised dealers is invited to paragraph 3 of A.D.(M.A. Series) Circular No.11 dated May 16, 2000, advising them to be guided by the provisions of the Exchange Control Manual (1993 edition) regarding matters listed i

Foreign Exchange Management Act, 1999 –Returns and Statements A.P. (DIR Series) Circular No.23 (December 30, 2000)