Second DraftAll Scheduled Commercial Banks(Excluding RRBs)Dear Sir, Mid-Term Review of the Annual Policy for the year 2007- 08 – Recovery Agents engaged by banks Please refer to the paragraph 172 and 173 of the mid-term review of the Annual Policy for the year 2007-08, a copy of which is enclosed. In view of the rise in the number of disputes and litigations against banks for engaging recovery agents in the recent past, it is felt that the adverse publicity would resu

DNBS/PD No. 5266/03.10.001/2007-08 January 24, 2008Draft Guidelines for extending No Objection Certificate (NoC) for opening of branch/subsidiary/Joint Venture/representative office or undertaking investment abroad by NBFCs NBFCs should obtain prior approval of the Bank for opening of subsidiaries/Joint Ventures/representative office abroad or for undertaking investment in foreign entities. The guidelines in place are being reviewed. The application from the NBFC seek

Reserve Bank of India Department of Non-Banking Supervision Central Office, Centre 1 World Trade Centre Cuffe Parade, Colaba Mumbai - 400 005Notification DNBS(PD)MGC No. __ /CGM (PK) - 2008 dated January ___, 2008Guidelines on Registration and Operations of Mortgage Guarantee Company under Section 45L(1)(b) of the Reserve Bank of India Act, 1934 The Reserve Bank of India, in terms of Notification No. DNBS. (MGC) 1 /CGM (PK)- 2008 dated January 15, 2008, issued in term

DBOD. No. BP. 502 / 21.04.157/2007-08October 24, 2007 The Chairman/Chief Executive OfficerAll Commercial Banks (excluding RRBs and LABs) andPrimary DealersDear Sir, Annual Policy Statement 2007- 08 – Draft Guidelines on Credit Default SwapsPlease refer to our letter forwarding DBOD.No.BP.1409/21.04.157/2006-07 dated May 16, 2007 the first draft guidelines on Credit Default Swaps and inviting feedback from various stakeholders. The feedback received from wide spectrum

Table of Contents Chapter Topic Page No: I Introduction 3 II Preview 6 III Review of FSTV Vision - 2005 10 IV Vision 2008-2010 15 V Conclusions and way forward 18 Chapter 1 Introduction The Mission Statement and the Corporate Objective relating to the Financial Sector Technology Vision continue to be as follows: Mission Statement <<< I T FOR EFFICIENCY AND EXCELLENCE >>> Corporate Objective: 'Enabling financial sector to leverage on I T for better cu

RBI/2006-2007/ A. P. (DIR Series) Circular No. June 01, 2007 To, All Authorised Dealer Category - I banks Madam / Sir Draft Circular on Booking of Forward Contracts - Liberalisation Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A. P. (DIR Series) Circular No.19 dated January 24, 2002, A. P. (DIR Series) Circular No. 63 dated December 21, 2002, A. P. (DIR Series) Circular No. 26 dated November 1, 2004, A. P. (DIR Series) Circular No.

RBI/2007-2008/A. P. (DIR Series) Circular No.October 10, 2007To,All Authorised Dealer Category - I banksMadam / SirBooking of Forward Contracts - LiberalisationAttention of Authorised Dealer Category - I (AD Category - I) banks is invited to A. P. (DIR Series) Circular No.19 dated January 24, 2002, A. P. (DIR Series) Circular No. 63 dated December 21, 2002, A. P. (DIR Series) Circular No. 26 dated November 1, 2004, A. P. (DIR Series) Circular No. 22 dated December 13,

DBOD. No. BP. 256 / 21.04.098/ 2007-08September 5, 2007ToChairmen / Chief Executive OfficersAll Commercial Banks(excluding RRBs)Guidelines on Asset-Liability Management (ALM) System – Draft AmendmentsReserve Bank had issued guidelines on ALM system vide Circular No. DBOD. BP. BC. 8 / 21.04.098/ 99 dated February 10, 1999, which covered, among others, interest rate risk and liquidity risk measurement / reporting framework and prudential limits. As a measure of liquidit

DBOD. No. BP. 1522/ 21.04.132/ 2006-07June 21, 2007All Commercial Banks (excluding RRBs & LABs)</FONT>Dear Sir,Prudential Guidelines on Restructuring/ Rescheduling of dues by banks – Draft GuidelinesPursuant to the Annual Policy Statement for the Year 2006-07, a Working Group was constituted to review and align the existing guidelines on restructuring of advances, other than under debt restructuring mechanisms, on the lines of provisions under the revised CD

DNBS. PD. No. 7902/ 03.05.002/2006- 07May 21, 2007To all public deposit taking NBFCsDear Sir, Requirement of minimum Net Owned Fund (NOF) of Rs. 200 lakh for all public deposit taking NBFCs – under Section 45-IA of the Reserve Bank of India Act, 1934As you may be aware, prior to April 21, 1999, the minimum Net Owned Fund (NOF) requirement for the new companies for grant of Certificate of Registration (CoR) to commence business of Non-Banking Financial Institution was

DBOD.No.BP. 1409 / 21.04.157 /2006-07May 16, 2007The Chairman / Chief Executive Officer,All Commercial Banks (excluding RRBs and LABs) andPrimary DealersDear Sir, Annual Policy Statement 2007- 08: Draft Guidelines on Credit Default SwapsPlease refer to paragraph 175 of the Annual Policy Statement 2007 – 08 wherein it was indicated that as a part of the gradual process of financial sector liberalization in India it is considered appropriate to introduce credit derivati

DNBS No. 6625 /03.11.01/2006-07April 2, 2007Non-Banking Financial CompaniesDear Sir, Union Budget Speech for the year 2007-08Regulations for creation of mortgage guarantee companies Please refer to Paragraph 90 of Union Budget Speech – 2007-2008 - Housing Loans (copy of the paragraph enclosed as Annex 1).2. An Internal Group was constituted by the Reserve Bank to formulate regulatory guidelines and to recommend a regulatory guidelines/framework for mortgage guarantee

March 20, 2007DBOD.No.BP. 1151/21.06.001/2006-07 The Chairman / Chief Executive Officer,All Commercial Banks(excluding LABs & RRBs)</P> Dear Sir,Prudential Guidelines on Capital Adequacy and Market Discipline –Implementation of the New Capital Adequacy FrameworkPlease refer to our letter DBOD.No.BP.1163/ 21.04.118/ 2005-06 dated February 15, 2005 forwarding the draft guidelines for implementation of the New Capital Adequacy Framework and inviting feedback fr

DBOD.BP.No. 781 / 21.04.018/ 2006-07 December 19, 2006 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Draft Guidelines - Accounting Standard 17, Segment Reporting – Enhancement of disclosure Please refer to our circular DBOD.No.BP. BC. 89 /21.04.018/2002-03 dated March29, 2003 in terms of which banks are required to adopt the three business segments viz. ‘Treasury’, ‘Other banking business’ and ‘Residual’ as the uniform business segments and ‘Domestic’ and

1. Definition of a Derivative A derivative is a financial instrument: (a) whose value changes in response to the change in a specified interest rate, security price, commodity price, foreign exchange rate, index of prices or rates, a credit rating or credit index, or similar variable (sometimes called the 'underlying'); (b) that requires no initial net investment or little initial net investment relative to other types of contracts that have a similar response to chan

DBOD. No. BP. 45 / 21.04.141 / 2006-07 July 12, 2006 Chairmen / Chief Executive Officers All Commercial Banks (Excluding RRBs) Draft revised guidelines on classification and valuation of investments While allowing banks to shift their investments in SLR securities to the ‘Held to Maturity’ category in September 2004, they were advised that the Reserve Bank of India is setting up an Internal Group to review the existing guidelines on classification and valuation of inv

(i) Applications for loans and their processing (a) Loan application forms should include necessary information which affects the interest of the borrower, so that a meaningful comparison with the terms and conditions offered by other NBFCs can be made and informed decision can be taken by the borrower. (b) The NBFCs should devise a system of giving acknowledgement for receipt of all loan applications. Preferably, the time frame within which loan applications will be

As announced in the Annual Policy Statement for the year 2005-06, it has now been decided that permitted structure of PD business will be expanded to include banks, which fulfill certain minimum criteria subject to safeguards. Accordingly, banks are eligible to apply for Primary Dealership, subject to the following guidelines. 2. The following categories of banks would be eligible to apply for PD license. (RBI's approval would be subject to compliance with all other r

6th December 2005 Draft Guidelines on Outsourcing of Financial Services by banks The world over, banks are increasingly using outsourcing, to third parties who may be unrelated or member of the group/conglomerate as a means of both reducing cost and accessing specialist expertise, not available internally and achieving strategic aims. Outsourcing brings in its wake, several risks like Strategic Risk, Reputation Risk, Compliance Risk, Operational Risk, Exit Strategy Ri

Reserve Bank of IndiaExchange Control DepartmentIntroduction of Foreign currency-Rupee OptionsA draft circular on " Foreign currency-Rupee Options " is annexed herewith. Authorised Dealers may forward their comments to the Chief General Manager, Exchange Control Department. Forex Markets Division, Reserve Bank of India, Central Office, Mumbai 400 001, by FAX (022- 22611427), by 20th March 2003.A.RajalakshmiAsst. General ManagerDraft Circular for Comments Reserve Bank