The Reserve Bank of India has been issuing circulars and directives from time to time. While issuing such circulars/directives, every effort is made to ensure clarity of the instructions with rationale and logic. There have been occasions when banks, members of public, etc., sought clarifications or interpretation of the instructions conveyed. It was, therefore, felt that if a booklet was compiled containing answers to off repeated questions, it would be helpful to al

The Reserve Bank of India has brought out a compact disc (CD) containing all the circulars issued by the Department of Banking Operations and Development up to March 31, 2000. In the CD the instructions issued up to end of 1995 are available in the form of a compendium; whereas those issued from January 1, 1996 are available in full text. The CD has been sent to all the banks. The contents of the CD are also made available on the RBI website (www.circulars.rbi.org.in)

The 'Banking Statistics: Quarterly Handout - December 1999' providing data on aggregate deposits and gross bank credit of scheduled commercial banks as on December 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 publ

On a review of liquidity and market conditions, Reserve Bank of India today announced the following measures: A reduction in Bank Rate by 1.0 percentage point from its present level of 8.0 per cent to 7.0 percent as at the close of business of April 1, 2000; A reduction in Cash Reserve Ratio (CRR) by 1 percentage point from its present level of 9.0 per cent to 8.0 per cent in two stages by 0.5 percentage point each effective from fortnights beginning April, 8 and Apri

For the convenience of income tax (IT) assessees, arrangements have been made for receipt of advance income tax at 415 specified bank branches, the Reserve Bank of India has stated in a press release. Seventy-six branches of Bank of Baroda, 72 branches of Bank of India, 23 branches of Bank of Maharashtra, 71 branches of Central Bank of India, 21 branches of Dena Bank, 37 branches of Indian Overseas Bank, 70 branches of State Bank of India, 17 branches of United Bank o

In exercise of the powers contained in Sub-section (4) of Section 44A of the Banking Regulation Act, 1949, the Reserve Bank of India has sanctioned the Scheme of Amalgamation of the Times Bank Ltd. With the HDFC Bank Ltd. The Scheme shall come into force with effect from February 26, 2000. All the branches of the Times Bank Ltd. Shall, from February 26, 2000, function as branches of HDFC Bank Ltd.Ajit Prasad ManagerPress Release : 1999-2000/1140

The Reserve Bank of India has now allowed public sector banks to open savings bank accounts in the name of Zilla Parishads/Gram Panchayats in respect of funds released for implementation of various rural development/welfare programmes and/or subsidy/margin-money linked programmes sponsored by the State Governments/Government of India.The Reserve Bank earlier this year had allowed public sector banks to open savings bank accounts in the name of Collector/District Magis

The Reserve Bank of India has now decided to allow public sector banks to open savings bank accounts in the name of Collector/District Magistrate/District Commissioner in respect of funds released for implementation of member of Parliament Local Area Development Scheme (MPLADS) where the works under the scheme are executed through Planning Department of the State Government. Public sector banks may also open savings bank accounts under MPLADS scheme in the name of Dis

The 'Banking Statistics: Quarterly Handout - September 1999' providing data on Aggregate Deposits and Gross Bank Credit of Scheduled Commercial Banks as on 24th September 1999, 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. The publ

The Reserve Bank of India has today released the Guidelines on asset liability management (ALM) system for the ten all-India term lending and refinancing institutions (FIs) on its website: www.rbi.org.in. The comprehensive guidelines to these institutions were issued on December 31, 1999 for instituting a structured asset liability management (ALM) system by them. The guidelines will be effective from April 1, 2000. FIs have been advised to constitute an Asset Liabili