Sl. No.	Service	Timeline (days)ⁱ	Submission Mode
Currency Chests
1	Application for new Currency Chest facility for banks not having Memorandum of Agreement (MoA) with RBI	30	PRAVAAH
2	Closure of Currency Chests	30	PRAVAAH
3	Opening of Currency Chests – In-principle approval	30	PRAVAAH
4	Opening of Currency Chests – Final approval	30	PRAVAAH
5	Shifting or Expansion of Currency Chests – In-principle approval	30	PRAVAAH
6	Shifting or Expansion of Currency Chests – Final approval	30	PRAVAAH
Notes
7	Exchange of Notes received through postal covers	7	Offline ^
8	Exchange of Notes received under Triple Lock Receptacles (TLRs)	7	Over The Counter*
9	Exchange of Notes that cannot withstand normal handling	30	Offline ^

Sr. No.	Description of Service	Time taken for providing service
1.	Issue of Duplicate Securities (a) G.P.Notes	3 months from the date of publication in the Government Gazette
	(b) Duplicate Receipt	Within 2 days of admission of claim
2.	Payment of Interest Warrant
	(a) Stock Certificate	On due date
	(b) S.G.L.	On due date
	(c) Saving Bonds	On due date
3.	(a) Transfer / Invocation of Pledge, Lien, etc.	4 days
	(b) Change of enfacement	2 days from the date of receipt of special cancellation advice from the parent PDO
	(c) Conversion	4 days
4.	Credit to SGL account	3 days
5.	Issue of scrip by debit to SGL	2 days
6.	Receipt of Securities for repayment	5 days
7.	SGL Transfer	1 day
8.	Registration of Power of Attorney and Certification	1 day
9.	Other Services
	(a) Examination	1 day
	(b) Certificate of Registry of sale power	1 day
	(c) Renewal	6 days
	(d) Withdrawal from safe custody	1 day
10.	Revalidation of Interest Warrant	1 day
11.	Registration of Nomination	1 day
12.	Registration and Revocation of Pledge, Lien, etc.
	(a) Stock Certificate	3 days
	(b) S.G.L.	1 day

Sr. No.	Description of Service	Time taken for providing service
1.	Issue of Coins	Within 15 mins (depending on volume of the tender)
2.	Receipt of Coins	Within 15 mins (depending on volume of the tender)
3.	Exchange of Soiled notes	Within 15 mins (depending on volume of the tender)
4.	Exchange of Defective/ Mutilated notes	Within 30 mins (depending on volume of the tender)
*Provision of service provided may vary across Offices.

Sr. No.	Description of Regulatory Approval	Time required
1.	Private Bank Licence- In principle approval	90 days@
2.	Approval to banks for acquisition/transfer of shares of five per cent or more of paid up equity share capital of the bank	90 days
3.	Approval to banks for holding non-banking assets beyond 7 and up to 12 years, in terms of Section 9 of Banking Regulation Act, 1949	30 days
4.	Approval to banks for redemption / exercise of call option / coupon payment on capital instruments	15 days
5.	Approval to banks for establishing a subsidiary/joint venture/associate or investments in financial and non-financial services companies requiring prior approval of RBI.	90 days
6.	Approval to banks for undertaking various financial services departmentally or expansion of the scope of activities of the group entities of banks (subsidiaries/JVs).	45 days
7.	Appointment / re-appointment of whole time directors (MD & CEO / EDs/ Jt. MDs) and Part-time Chairmen (non-whole time directors) in Private Sector Banks, including SFBs, PBs and LABs	90 days
8.	Appointment/re-appointment of CEOs of Foreign Banks and whole time directors (MD & CEO / EDs) and Part-time Chairmen (non-whole time directors) of Wholly Owned Subsidiaries (WOS) of Foreign Banks operating in India	90 days
9.	Remuneration, Bonus and Employee Stock Option (ESOP) of whole time directors (MD & CEO / EDs/ Jt. MDs ) and Part-time Chairmen (non-whole time directors) of Private Sector Banks, including SFBs, PBs and LABs	90 days
10.	Remuneration, Bonus and Employee Stock Option of CEOs of Foreign Banks and whole time directors (MD & CEO / EDs) and Part-time Chairmen (non-whole time directors) of Wholly Owned Subsidiaries (WOS) Wholly Owned Subsidiaries (WOS) operating in India	90 days
11.	Clearances for appointment of whole time directors, non-executive chairmen and non-official directors of public sector banks	60 days
12.	Approval of Annual Banking Outlet Expansion Plan (ABOEP) in respect of Domestic Scheduled Commercial Banks (excluding RRBs) for which the general permission has been withdrawn and for Payment Banks and Local Area Banks	45 days
13.	Authorization to banks for importing gold/silver under Foreign Trade Policy	60 days
14.	Authorization for opening of banking outlets under approved ABOEP	30 days
15.	Processing of applications of banks to set up an IBU at GIFT City*	90 days
@The timeline for issue of in-principle approval for private sector bank licences commences from receipt of report from the Independent External Advisory Committee.

16.	Inclusion in/Exclusion from Second Schedule of RBI Act	45 days
17.	Permission for opening of Banking Outlets/ issue of licence for Banking outlets/ service branches/ Regional Offices	45 days
18.	Permission for shifting of Banking Outlets outside the Revenue Centre	45 days
19.	Appropriation from the Reserve Fund under Section 17(2) of the BR Act, 1949	45 days
20.	Permission to extend internet banking facility to customers	30 days
21.	Permission to extend mobile banking to customers	30 days
22.	Approval to banks for undertaking various financial services departmentally.	90 days

Sr. No.	Description of Regulatory Approval	Time required
SRO
1.	Recognition to Self-Regulatory Organisation (SRO)	45 days
Non-Banking Finance Companies(NBFCs)
2.	Issue of Certificate of Registration (other than Securitization and Reconstruction Companies)	45 days
3.	NOC to sponsor Infrastructure Debt Fund by NBFC	30 days
4.	Change of control/ownership/management of an NBFC	30 days
5.	Conversion of existing NBFCs to other categories such as Core Investment Companies-Non Deposit taking-Systemically Important (CIC-ND-SI) , NBFC-Micro Finance Institutions (NBFC-MFIs), NBFC-Infrastructure Finance Companies (IFCs) and NBFC-Factors	30 days
6.	Declaration of dividend– (In case there are special reasons or difficulties for any PD in strictly adhering to the guidelines relating to Dividend, it may approach RBI in advance for an appropriate ad hoc dispensation in this regard)	45 days
7.	Approval to NBFCs for establishing a subsidiary/joint venture/associate or investments in financial and non-financial services companies requiring prior approval of RBI.	90 days
8.	Approval to NBFCs for undertaking various financial services departmentally or expansion of the scope of activities of the group entities (subsidiaries/JVs) wherever approval is required.	90 days
Non-Banking Finance Companies(NBFCs)- Housing Finance Companies
9.	Approval for acquisition/ transfer of ten per cent or more of the paid-up equity capital of the HFC (accepting/ holding public deposits) by/ to a foreign investor	90 days
10.	Approval for acquisition/ transfer of twenty-six per cent or more of the paid-up equity capital of the HFC.	90 days
11.	Approval to HFCs for establishing a subsidiary/joint venture/associate or investments in financial and non-financial services companies requiring prior approval of RBI.	90 days
12.	Approval to HFCs for undertaking various financial services departmentally or expansion of the scope of activities of the group entities (subsidiaries/JVs) wherever approval is required.	90 days
13.	Prior approval of the Reserve Bank for any change in the management of the HFC which would result in change in more than 30 per cent of the directors, excluding independent directors.	90 days

Sr. No.	Description of Regulatory Approval	Time required
Asset Reconstruction Companies(ARCs)
1.	Approval for change of sponsor in ARC	90 days
2.	Prior approval of the Reserve Bank for any substantial change in the management of the ARC including appointment of any director on the board of directors of the ARC or managing director or chief executive officer thereof.	90 days

Sr. No.	Description of Regulatory Approval	Time required
1. Approvals/Permissions given by Central Office for UCBs
1.	Extension of Area of Operation i) beyond adjoining districts and to the entire State of registration ii) beyond the State of registration iii) for multi-state UCBs	90 days
2.	Shifting of branches – Request from UCBs not conforming to the FSWM (Financially Sound and Well Managed) criteria for shifting of their offices/branches outside the centre/State	90 days
3.	Shifting of branches of UCBs outside the State of registration	90 days
4.	Permission to undertake intra-day short selling of G-Secs	90 days
5.	Permission to extend unsecured advances up to 25% of total assets subject to conditions prescribed in our circular dated April 3, 2010	90 days
6.	Remission of Debt of Director related loans	90 days
7.	Grant of permission for raising Long Term (Subordinated) Deposits (LTD)/ Perpetual Non-Cumulative Preference Shares (PNCPS)/ Conversion of deposits to equity	90 days
8.	Approval for appointment/renewal of appointment of CEO of scheduled UCBs with deposit size of Rs. 100 crore and above	90 days
2. Approvals/Permissions given by Regional Offices for UCBs
9.	Shifting of offices to different wards/municipal areas	45 days
10.	Extension of time for submission of Form – V (Furnishing of details of Branches opened)	90 days
11.	Change of address to same municipal ward, post issue of authorization but before opening of branch	90 days
12.	Authorisation for opening of branches under Annual Business Plan and new off-site ATMs	90 days
13.	Approval for opening of specialized branches by UCBs	90 days
14.	Permission to extend internet banking facility to customers	90 days
15.	Permission for payment of dividend	90 days
16.	Change in name of bank	90 days
17.	Authorization to maintain/renew NRE accounts	90 days
18.	Approval for appointment/renewal of appointment of CEO of non-scheduled UCBs with deposit size of less than Rs.100 crore	90 days
3. Other applications received by the Department for recommendations but approvals/permissions granted by other Departments /Organisations for UCBs
19.	Approvals related to Centralised Payment System	45 days
20.	MTSS	45 days
21.	AD-I and AD-II category licences	45 days
22.	Opening of current account/SGL account	45 days
23.	Clearing House memberships	45 days
24.	NDS-OM Membership	45 days
25.	Permission to extend mobile banking to customers	45 days
26.	Banker to Issue	45 days
27.	Merchant Banking	45 days

Sr. No.	Description of Regulatory Approval	Time required
State and Central Co-op. Banks
1.	Grant of loan/advance against the security of NRE deposits to a resident individual/ firm/ company in India	30 Days
2.	Disposal of non-banking assets - Approval given by Regional Offices	30 Days
3.	Investment in shares of other Co-operative Societies situated outside the area of the co-operative bank	30 Days

Sr. No.	Description of Regulatory Approval	Time required
State and Central Co-op. Banks
1.	Grant of banking licence- Approval given by Central Office.	30 Days
2.	Permission to make investments in non-PSU bonds where prescribed criteria are not met	30 Days
3.	Permission to issue Innovative Perpetual Debt Instruments	30 Days
4.	Approval to banks for undertaking various financial services departmentally.	90 Days
State Co-op. Banks
5.	Permission to State Co-op. Banks for grant of branch licence	30 Days
6.	Permission to open extension counters	30 Days
7.	Permission for opening specialized branches for conducting forex business, etc., and for up-gradation of existing extension counters into full-fledged branches	30 Days
8.	Permission for shifting of a bank branch to a different locality/municipal ward other than the one mentioned in the licence. Approval given by Regional Offices	30 Days
9.	Inclusion in the 2nd Schedule to RBI Act, 1934. Approval given by Central Office.	30 Days

Sl. No.	Service	Timeline (days)ⁱ	Submission Mode
Challans
10	Delivery of receipted challans tendered with cash	20 minutes	Over The Counter
11	Delivery of receipted challans tendered with cheques issued by Government departments maintaining accounts with RBI	20 minutes	Over The Counter
12	Delivery of receipted challans tendered with cheques drawn on other banks	3	Over The Counter
Financial instruments
13	Issue of cheque books	20 minutes	Over The Counter
14	Issue of demand drafts	60 minutes	Over The Counter
Funds transfer and cash transactions
15	Cash withdrawal by Government departments through cheques	20 minutes	Over The Counter
16	Deposit of cash by bank maintaining current account with RBI	15 minutes	Over The Counter
17	Transfer of funds (from one bank's current account to another bank's current account in RBI)	15 minutes	Over The Counter
18	Withdrawal of cash by bank maintaining current account with RBI	20 minutes	Over The Counter
Refinance facility
19	Refinance facility and disbursement of loans	3 hours	Over The Counter
Special Deposit Scheme 1975 - Account Transfer
20	Applications from SBI GAD for transfer of Special Deposit Scheme 1975 accounts from other agency banks to SBI SSB, Mumbai branch	10	PRAVAAH

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