Reserve Bank of India Exchange Control Department Central Office Mumbai 400 001October 18, 2002A.P. (DIR Series) Circular No.31 To All Authorised Dealers in Foreign ExchangeMadam/Sirs,Release of Exchange for Private TravelIn terms of Item 2 of Schedule III to the Government of India’s Notification No.G.S.R. 381(E) dated May 3, 2000, authorised dealers (ADs) are required to obtain prior permission of the Reserve Bank to release foreign exchange exceeding USD 5,000 in o

RESERVE BANK OF INDIA EXCHANGE CONTROL DEPARTMENT CENTRAL OFFICE MUMBAI - 400 001A.P.(DIR Series) Circular No.17September 12, 2002To All Authorised Dealers in Foreign Exchange Madam/Sirs,Liberalisation of Release of Foreign Exchange for Medical Treatment Abroad Attention of authorised dealers (ADs) is invited to item No.9 of Schedule III to G.S.R.381(E) dated May 3, 2000 in terms of which they are empowered to release foreign exchange to residents for meeting expenses

Reserve Bank of India Central Office Department of Banking Operations and Development Centre - 1, World Trade Centre Cuffe Parade, Colaba, Mumbai - 400 005Ref.DBOD.No.Leg.BC. 21 / 09.07.007 / 2002-03August 23, 2002.All scheduled commercial banks (excluding RRBs and LABs)Dear Sir,Customer Service - Immediate credit for outstation and local cheques - enhancement of ceilingPlease refer to our circular DBOD No.BC.181 / 09.07.007 / 99-2000 dated May 29, 2000 advising banks

DBOD.AML.BC.18/14.01.001/2002-03August 16, 2002ToThe Chief Executives of All Commercial banks.Dear Sir,Guidelines on "Know Your Customer" norms and "Cash transactions"As part of ‘Know Your Customer’ (KYC) principle, RBI has issued several guidelines relating to identification of depositors and advised the banks to put in place systems and procedures to help control financial frauds, identify money laundering and suspicious activities, and for scrutiny/monitoring of la

UBD.CO.POT.PCB.Cir./ 02 /09.11.00/2002-0318 July 2002 27 Aashadha 1924(S)The Chief Executive Officers of All Primary Urban Co-operative BanksDear Sir/Madam, Updating Passbooks of customers maintaining Savings Bank/Current Accounts---------------------------------------------------------------It has been brought to the notice of the Reserve Bank that in some of the banks where the entries in the Passbooks are made through computers while updating Passbooks, the entries

Ref.No. CO. DT.13.01.272/ /2002-03July 17, 2002The RDs, All Regional Offices State Bank of India & Associates, 18 Nationalised Banks, 4 Private Sector Banks and SCHILDear Sir,Transferability of Relief Bonds of earlier seriesWe advise that the secondary market purchases of bonds of earlier series, issued prior to March 1, 2002 and not matured, are not to be treated as fresh investments and included in the per investor annual limit of Rs. 2 lakh. Accordingly, it wil

As on July 1, 2002Reserve Bank of India Exchange Control Department Central Office MumbaiEC.CO. PCD.No.3/15.02.76/2002-03July 15, 2002ToAll Authorised Dealers in Foreign Exchange Dear Sirs,Master Circular – Release of Foreign Exchange for Travel outside IndiaAs you are aware Foreign Exchange Management Act, 1999 has been introduced with effect from June 1, 2000. In terms of Section 5 of the Act, any person may sell or draw foreign exchange to and from authorised perso

Reserve Bank of India Exchange Control Department Central Office Mumbai 400 001AP (DIR Series) Circular No.53June 27, 2002To, All Authorised Dealers in Foreign ExchangeMadam / Sirs,Use of Credit Cards Attention of Authorised Dealers is invited to paragraph 3 of AP(DIR Series) Circular No.19 dated October 30, 2000 clarifying that the term "currency", inter alia, includes Credit Cards, ATM Cards and Debit Cards etc. and all the rules, regulations made and directions iss

DBOD.No.FSC.BC. 88 /24.01.011A/2001-02April 11 , 2002All Scheduled Commercial Banks (Excluding RRBs)Dear Sir,Issue of Smart Cards by banksIn terms of instructions contained in Circular DBOD. No.FSC.BC.123/24.01.019/ 99-2000 dated 12th November 1999 (Annexure I -item 3-Eligibility of Customers), banks were, inter alia, advised to issue smart/ debit cards to their customers having good financial standing and who have maintained the accounts satisfactorily for at least s

DBOD.LEG.BC.86 /09.07.007/2001-02April 8, 2002The Chairman / Chief Executive All Scheduled Commercial Banks (excluding RRBs)Dear Sir,Customer Service - Reversal of Erroneous Debits Arising on Fraudulent or Other TransactionsPlease refer to our circular DBOD.BP.BC. 57/21.01.001/95 dated May 4, 1995 (copy enclosed) advising banks to adhere to the guidelines and procedure for opening and operating deposit accounts to safeguard against unscrupulous persons opening account

DBOD.BC.No. 63 /09.07.007/2001-02 February 04, 2002All Commercial Banks (excluding RRBs)Dear Sir.Release of Assets of Deceased Customers to Legal Survivors/ClaimantsPlease refer to our circular DBOD.BC.No. 55/09.07.007/2001-02 dated January 1, 2002 on the captioned subject. In this connection, you are requested to carry out the following amendment in the above circular in the manner set out below, namely,(i) In paragraph 1 -The words "where the amount to the credit of

DBOD. BC.No. 55 /09.07.007/2001-02January 01 , 2002All Commercial Banks (excluding RRBs)Dear Sir,Release of Assets of Deceased Customers to Legal Survivors/ClaimantsIn terms of our circular DBOD BCNo.148/09.07.007/1999-2000 dated March 14,2000, it was advised that banks should not insist upon succession certificate from legal heirs where the amount to the credit of deceased depositors does not exceed Rs.25,000/-.Certain safeguards were stipulated in our Circular DBOD.

BP.BC. 53 / 21.04.117 /2001-02December 22, 2001Chairmen and Managing Directors of all public sector banksDear Sir,One Time Settlement of NPAs- Small Loan Accounts with sanctioned limits upto RS.25,000/-The Hon’ble Finance Minister in his meeting with the CMDs of public sector banks held at New Delhi on November 12, 2001, has indicated that a suitable scheme should be evolved by the banks for recovery of dues pertaining to loans outstanding up to Rs.25,000. Accordingly

Reserve Bank of India Exchange Control Department Central Office Mumbai - 400 001November 13, 2001A.P.(DIR Series) Circular No. 11 A.P.(FL Series) Circular No. 1To All Authorised Persons in Foreign ExchangeDear Sirs/Madam Release of Foreign Exchange for visits abroad - Currency ComponentAuthorised dealers as well as Full Fledged Money Changers are permitted to sell foreign exchange in the form of foreign currency notes and coins upto US$ 500 or its equivalent to trave

Reserve Bank of India Central Office Department of Banking Operations and Development Centre - 1, World Trade Centre Cuffe Parade, Colaba, Mumbai - 400 005November 7, 2001 Kartika 16, 1923(S)DBOD No. Dir. BC. 42/13.03.00/2001-02In exercise of the powers conferred by Section 35A of the Banking Regulations Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient in public interest so to do, hereby directs that hereinafter and with immediat

RESERVE BANK OF INDIA EXCHANGE CONTROL DEPARTMENT CENTRAL OFFICE MUMBAI 400 001 A.P.(DIR Series) Circular No.2July 27, 2001 To All Authorised Dealers in Foreign Exchange Dear Sirs Remittance for participation in lottery etc. schemes It has come to the notice of the Reserve Bank that certain overseas organisations have been advising individuals in India that they have won prizes in lotteries etc. and that they should arrange to remit some amount in US Dollars, as fees.

FSC.BC.120/24.01.011/2000-01May 12, 2001ToAll Scheduled Commercial Banks (excluding RRBs)Dear Sir,Credit Card business of banksA special study on credit card business of certain banks covering aspects relating to the systems and controls on issue of credit cards and recovery of dues thereunder, was undertaken by us. The study report was circulated to banks for their comments and suggestions. Based on the response received from banks, it has been decided that banks sho

Reserve Bank of India Central Office Department of Banking Operations and Development Centre - 1, World Trade Centre Cuffe Parade, Colaba, Mumbai - 400 005 April 19, 2001 Chaitra 29,1923(S)DBOD No. Dir BC 104/13.03.00/2000-01 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 Ban

RPCD.CO.No.RF.BC.59/07.28.01/2000-2001 February 27, 2001 All State and Central Co-operative Banks / Regional Rural Banks Dear Sir, Payment of Balance in Account of the Deceased Customers to Legal Survivors / Claimants Please refer to our circular No.RF.BC.09/07.38.01/2000-2001 dated 22 August 2000. 2. In this connection, we clarify that in regard to payment of balances in the accounts of the deceased customers to survivors / claimants the banks may call for succession

DCM. 300 /08.04.21/2000-2001January 5, 2001The Chairman All 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 R