Financial Inclusion and Development

SPEED POST RBI/2008-09/420 @@NBSP@@ RPCD.RRB.BC.No.94/03.05.34/2008-09 March 26, 2009 @@NBSP@@ The Chairman All Regional Rural Banks/Sponsor Banks @@NBSP@@ Dear Sir, @@NBSP@@ Valuation of investment in SLR/Approved Securities by Regional Rural Banks (RRBs) @@NBSP@@ Please refer to our circular RPCD.RRB.BC.No.87/03.05.34/2006-07 dated May 8, 2007 on the above subject. 2. On a review of the issue it has been decided that the exemption granted to RRBs up to the financial

RBI/2008-09/413 RPCD.CO.RRB.BC.No.92 /03.05.072/2008-09 March 23, 2009 @@NBSP@@ All Regional Rural Banks @@NBSP@@ Dear Sir, @@NBSP@@ Agricultural Debt Waiver and Debt Relief Scheme, 2008 – Prudential Norms on Income Recognition, Asset Classification, Provisioning and Capital Adequacy @@NBSP@@ Please refer to our circulars RPCD.CO.RRB.No. BC 18/03.05.072/2008-09 dated July 30, 2008 and RPCD. CO.RRB.BC.No.64/03.05.072/2008-09 dated November 17, 2008 on the captioned sub

RBI/2008-09/ 404 RPCD.CO.RF.BC.No.91 /07.37.02/2008-09 March 6, 2009 @@NBSP@@ All State Co-operative Banks (StCBs) and District Central Co-operative Banks (DCCBs) @@NBSP@@ Dear Sir, @@NBSP@@ Agricultural Debt Waiver and Debt Relief Scheme, 2008 - Prudential Norms on Income Recognition, Asset Classification, Provisioning and Capital Adequacy @@NBSP@@ Please refer to our circular RPCD.CO.RF.BC.No.17/07.38.03/2008-09 dated July 30, 2008 and RPCD.CO.RF.BC.No.69/07.37.02/2

RBI/2008-09/345RPCD.CO.RRB.BC.No.82/ 03.05.28(B)/2008-09January 5, 2009 All Regional Rural BanksDear Sir,Section 42(1) of Reserve Bank of India Act, 1934 - Maintenance of Cash Reserve Ratio (CRR)- RRBsPlease refer to our circular RPCD.CO.RRB.BC.No.59/03.05.28 (B)/2008-2009 (RBI/2008-09/264) dated November 3, 2008 on the captioned subject. 2. On a review of the current global and domestic macroeconomic situation, and as set out in the Reserve Bank's Press Release 2008-

RBI/2008-09/344 RPCD.CO.RF.BC.No.81/07.02.01/2008-09 January 05, 2009 All Scheduled State Co-operative Banks Dear Sir, Section 42(1) of the Reserve Bank of India Act, 1934 - Maintenance of CRR Please refer to our Circular RPCD.CO.RF.BC.No.57/07.02.01/2008-09 dated November 03, 2008 on the captioned subject. 2. On a review of the current global and domestic macroeconomic situation, and as set out in the Reserve Bank's Press Release 2008-2009/1023 dated January 02, 2009

RBI/2008-09/328RPCD.CO.RF.BC.No.78/07.38.01/2008-09December 19, 2008All State Co-operative Banks (StCBs) andCentral Co-operative Banks (DCCBs)Dear Sir,Disclosing all information relating to processing fees / chargesPlease refer to paragraph 4 of our circular RPCD.CO.RF.BC.No.93/ 07.38.01/2006-07 dated May 16, 2007 regarding complaints about excessive interest charged by banks, wherein State and Central Co-operative Banks were advised to lay down appropriate internal p

RBI / 2008-09/320 RPCD.CO.RRB.BC.No.75 /03.05.28-B/2008-09 December 10, 2008 All Regional Rural Banks Dear Sir, Guidelines on Fair Practices Code for Lenders- Disclosing all information relating to processing fees / charges Please refer to our circular RPCD.BOS./81/13.33.01/2005-06 dated May 16, 2006 on the captioned subject in respect of which all commercial banks including RRBs were advised to display charges related to certain services in their offices/branches. 2.

RBI/2008-09/303 RPCD.CO.RRB.BC.No.71 /03.05.33/2008-09 December 2, 2008 All Regional Rural Banks Dear Sir, Housing Loans – Orders of the Delhi High Court - Writ Petition by Kalyan Sanstha Welfare Organisation against Union of India and Others- Implementation of Directions Please refer to our circular RPCD.CO.No.RRB.BC.36/03.05.33/2006-07 dated November 22, 2006 on the captioned subject. 2. On receipt of queries from certain quarters, a reference was made to the Monito

RBI/2008-09/298 RPCD.CO.RF.BC.70/07.40.06/2008-09 November 28, 2008 All State and Central Co-operative Banks Dear Sir, Housing Loans – Orders of the Delhi High Court - Writ Petition by Kalyan Sanstha Welfare Organisation against Union of India and Others- Implementation of Directions Please refer to our circular RPCD.RF.BC.35/07.40.06/2006-07 dated November 22, 2006 on the captioned subject. 2. On receipt of queries from certain quarters, a reference was made to the M

RBI/2008-09/289 RPCD.CO.RF.BC.No.68/07.38.01/2008-09 November 17, 2008 @@NBSP@@@@NBSP@@ All State Co-operative Banks (StCBs) and District Central Co-operative Banks (DCCBs) Dear Sir, Interest Rate on Non-Resident (External) Rupee (NRE) Deposits Please refer to our Circular RPCD.CO.RF.BC.No.52/07.38.01/2008-09 dated October 15, 2008 on Interest Rate on NRE Rupee Deposits. In view of prevailing market conditions, it has been decided that until further notice and with ef

RBI/2008-09 / 292 RPCD.CO.RRB.BC.No.63 /03.05.33 (C) /2008-09 November 17, 2008 All Regional Rural Banks Dear Sir, Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and FCNR (B) deposits Interest Rates on Non-Resident (External) Rupee (NRE) Deposits Please refer to paragraph 1 of our circular RPCD. No. RRB. BC. 54/03.05.33(C)/2008-09 dated October 15, 2008 on Interest Rates on Deposits held in Non-Resident (External) Rupee (NRE) Accounts. In view of the p

RBI /2008-2009/286 RPCD.CO.RRB. BC No.64 /03.05.072/2008-09 November 17, 2008 Regional Rural Banks Dear Sir, Agricultural Debt Waiver and Debt Relief Scheme, 2008 – Prudential Norms on Income Recognition, Asset Classification and Provisioning and Capital Adequacy- RRBs Please refer to our circular RPCD.CO.RRB.No.BC.18 /03.05.072/2008-09@@NBSP@@July 30, 2008 on the captioned subject. 2. In this regard, we advise that under the captioned scheme,@@NBSP@@ the Government o

RBI/2008-2009/285 RPCD.CO.RRB.BC. No.61 /03.05.90-A /2008-09 November 17, 2008 All Regional Rural Banks @@NBSP@@ Dear Sir, Mid-Term Review of annual policy for the year 2008-09 Branch Licensing – Regional Rural Banks- Further Liberalisation-Conditions for opening of new branches Please refer to our Master Circular on Branch Licensing - Regional Rural Banks (RRBs) RPCD.CO.RRB.No.BL.BC.07 /03.05.90-A/2008-09 (RBI/2008-09/36) July 1, 2008. Pursuant to the announcement ma

RBI/2008-09/290 RPCD.CO.RF.BC.No.69/07.37.02/2008-09 November 17, 2008 All State Co-operative Banks (StCBs) and District Central Co-operative Banks (DCCBs) Dear Sir, Agricultural Debt Waiver and Debt Relief Scheme, 2008 - Prudential Norms on Income Recognition, asset Classification, Provisioning and Capital Adequacy Please refer to our circular RPCD.CO.RF.BC.No.17/07.38.03/2008-09 dated July 30, 2008 on the captioned subject. 2. We advise that the Government of India

RBI/2008-09/288 RPCD.CO.RF.BC.No.66/ 07.38.01/2008-09@@NBSP@@ November 17, 2008 The Managing Director Maharashtra State Co-operative Bank Ltd. 9, Nagindas Master Road Extension, Fort Mumbai-1 Dear Sir, Interest Rate on FCNR(B) Deposits Please refer to our circular RPCD.CO.RF.BC.No.50/07.38.01/2008-09 dated October 15, 2008 on Interest Rate on FCNR(B) Deposits. In view of prevailing market conditions, it has been decided that until further notice and with effect from c

RBI/2008-09/263 RPCD.CO.RRB.BC. No.58 /03.05.28 (B)/2008-09 November 3, 2008 All Regional Rural Banks Dear Sir, Section 24 of the Banking Regulation Act, 1949 Maintenance of Statutory Liquidity Ratio (SLR) – RRBs Please refer to our circular RPCD.CO.RRB.No.BC.47/03.05.28 (B)/2007-08(RBI/2007-08/237) dated February 14, 2008 on the captioned subject. 2. On a review of current and evolving macroeconomic situation and liquidity conditions in the global and domestic financ

RBI/2008-09/234 RPCD.CO.RRB. No. BC.46/ 03.05.28(B)/2008-09 October 15, 2008 All Regional Rural Banks Dear Sir, Section 42 (1) of Reserve Bank of India Act, 1934 - Maintenance of Cash Reserve Ratio (CRR)- Regional Rural Banks (RRBs) Please refer to our circular RPCD.CO.RRB.No.BC.44/03.05.28 (B)/2008-2009 (RBI/2008-09/213) dated October 10, 2008 on the captioned subject, advising reduction in Cash Reserve Ratio (CRR) by 150 basis points from 9.00 percent to 7.50 per ce

RBI/2008-2009/212 RPCD.CO.RF.BC.No. 43/07.02.01/2008-09 October 10, 2008@@NBSP@@ @@NBSP@@All Scheduled State Co-operative Banks Dear Sir, Section 42(1) of Reserve Bank of India Act, 1934 - Maintenance of CRR Please refer to our Circular RPCD.CO.RF.BC.No.39/07.02.01/2008-09 dated October 7, 2008 on the captioned subject, advising reduction in Cash Reserve Ration (CRR) by 50 basis points from 9.00 per cent to 8.50 per cent of net demand and time liabilities with effect

RBI/2008-09/171 RPCD.CO.RF.BC.No.29/07.38.01/2008-09 September 17, 2008 All State Co-operative Banks (StCBs) and District Central Co-operative Banks (DCCBs) Dear Sir, Interest Rate on Non-Resident (External) Rupee (NRE) Deposits Please refer to our Circular RPCD.CO.RF.BC.No.79/07.38.01/2006-07 dated April 26, 2007 on Interest Rate on NRE Rupee Deposits. On a review, it has been decided that until further notice and with effect from close of business in India as on Sep

RBI/2008-09/172 RPCD.CO.RF.BC.No.31/ 07.38.01/2008-09 September 17, 2008 The Managing Director Maharashtra State Co-operative Bank Ltd. 9, Nagindas Master Road Extension, Fort Mumbai-1 Dear Sir, Interest Rate on FCNR(B) Deposits Please refer to our circular RPCD.CO.RF.BC.No.81/07.38.01/2006-07 dated April 26, 2007 on Interest Rate on FCNR(B) Deposits. On a review, it has been decided that until further notice and with effect from the close of business in India as on S

RBI/2008-09/162 RPCD.CO.RRB.No. BC.25 /03.05.33/2008-09 September 12, 2008 All Regional Rural Banks (RRBs) Dear Sir, Acquisition of Accommodation on Lease / Rental basis by Regional Rural Banks for their branches / offices - @@NBSP@@Liberalisation of guidelines It has been decided that the guidelines issued to Scheduled Commercial Banks vide DBOD Circulars DBOD.No.BL.BC.105/22.01.03/98 and DBOD. No. BL.BC. 13/22.01.03/2000-01 dated November 11, 1998 and August 4, 2000

RBI/2008-09/163 RPCD.CO.RRB.BC.No.26 /03.05.33/ 2008-09 September 12, 2008 The Chairmen All Regional Rural Banks Dear Sir, Settlement of Claims in respect of Missing Persons Of late, queries are being raised regarding the system which should be followed by Banks in case a claim is received from a nominee / legal heirs for settlement of claim in respect of missing persons. 2. The settlement of claims in respect of missing persons would be governed by the provisions of

RBI/2008-09/108 RPCD.CO.RRB. No. BC.16 / 03.05.28(B)/2008-09 July 31, 2008 All Regional Rural Banks Dear Sir, Section 42 (1) of Reserve Bank of India Act, 1934 – Maintenance of Cash Reserve Ratio (CRR)- Regional Rural Banks(RRBs) Please refer to our circular RPCD.CO.RRB.BC.84/03.05.28 (B)/2007-2008 (RBI/2007-08/385) dated June 26, 2008 on the captioned subject. As set out in the Governor's statement on the First Quarter Review of Annual Monetary Policy for the year 20

RBI/2008-2009/113 RPCD.CO.RF.BC. No. 17 / 07.38.03 / 2008-09 July 30, 2008 To All State Co-operative Banks (StCBs) and Central Co-operative Banks (DCCBs) Dear Sir, Agricultural Debt Waiver and Debt Relief Scheme, 2008-Prudential Norms on Income Recognition, Asset Classification and Provisioning, and Capital Adequacy As you are aware, the Hon’ble Finance Minister, in his Budget Speech (paragraph 73) for 2008-09 has announced a debt waiver and debt relief scheme for far

RBI/2008-2009 /114RPCD.CO.RRB.No. BC.18 / 03.05.072 / 2008-09July 30 2008To all Regional Rural BanksDear Sir,Agricultural Debt Waiver and Debt Relief Scheme, 2008-Prudential Norms on Income Recognition, Asset Classification and Provisioning, and Capital AdequacyAs you are aware, the Hon’ble Finance Minister, in his Budget Speech (paragraph 73) for 2008-09 has announced a debt waiver and debt relief scheme for farmers, for implementation by, inter alia, all Regional Ru

RBI/2008-2009/105 RPCD.CO.RF.BC.No. 15 / 07.02.01 / 2008-09 July 30, 2008 8 Shravana, Saka 1930 All Scheduled State Co-operative Banks Dear Sir, Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of CRR Please refer to our circular RPCD.CO.RF.BC.No. 83 / 07.02.01 / 2007-08 dated June 26, 2008 on the captioned subject. As set out in the Governor’s statement on the First Quarter Review of Annual Monetary Policy for the year 2008-09 issued on July 29, 2008, on

RBI/2008-09/99 RPCD.CO.RRB. No. BC 13@@NBSP@@/03.05.33/2008-09 July 23, 2008 All Regional Rural Banks Dear Sir, Banking facilities to the visually challenged It has been brought to our notice that visually challenged persons are facing problems in availing banking facilities. It may be noted that banking facilities including cheque book facility / operation of ATM / locker, etc. cannot be denied to the visually challenged as they are legally competent to contract. 2.

RBI/2008-09/91 RPCD.CO.RF.No.BC@@NBSP@@ 1/07.06.00/2008-09 July 9, 2008 18 Ashadha, Saka 1930 To All State and Central Co-operative Banks Dear Sir, Banking facilities to the visually challenged It has been brought to our notice that visually challenged persons are facing problems in availing banking facilities. It may be noted that banking facilities including cheque book facility / operation of ATM / locker, etc. cannot be denied to the visually challenged as they ar

RBI/2008-09/36 RPCD.CO.RRB.No.BL.BC.07 /03.05.90 -A/ 2008-09 July 1, 2008 The Chairmen of all Regional Rural Banks/Sponsor Banks Dear Sir, Section 23 of the Banking Regulation Act, 1949 - Master Circular on Branch Licensing - Regional Rural Banks (RRBs) Reserve Bank of India has been issuing instructions to RRBs regarding opening/shifting/merger of branches/extension counters/offices, etc. from time to time. With a view to consolidating all the current instructions an

RBI/2007-08/319 RPCD.CO.RF.BC.No.70/07.38.01/2007-08 May14, 2008 All State and District Central Co-operative Banks Dear Sir, Settlement of claims in respect of missing persons A query has been raised regarding the system which should be followed by banks in case a claim is received from a nominee / legal heirs for settlement of claim in respect of missing persons. 2. The settlement of claims in respect of missing persons would be governed by the provisions of Section

RBI/2007-2008/306RPCD.CO.RRB. No. BC.64 / 03.05.28(B)/2007-08April 30, 2008All Regional Rural BanksDear Sir,Section 42 (1) of Reserve Bank of India Act, 1934 –Maintenance of Cash Reserve Ratio (CRR)-Regional Rural Banks(RRBs)Please refer to our circular RPCD.CO.RRB.BC.61/03.05.28 (B) /2007-2008 (RBI/2007-08/292) dated April 22, 2008 on the captioned subject. As set out in the Governor's Annual Policy statement for the year 2008-09 issued on April 29, 2008, on a review

RBI/2007-2008/305RPCD.CO.RF.No. BC.63 /07.02.01/2007-08 April 29, 2008All Scheduled State Co-operative Banks Dear SirSection 42(1) of Reserve Bank of India Act, 1934-Maintenance of CRRPlease refer to our Circular RBI/2007-2008/ 288 (RPCD.CO.RF.BC.No.59 / 07.02.01/ 2007-08) dated April 21, 2008 on the captioned subject. As set out in the Governor's Annual Policy statement for the year 2008-09 issued on April 29, 2008, on a review of evolving liquidity situation, it has

RBI/2007-2008/292RPCD.CO.RRB. No. BC. 61/03.05.28(B)/2007-08April 22, 2008All Regional Rural BanksDear Sir, Section 42 (1) of Reserve Bank of India Act, 1934 –Maintenance of Cash Reserve Ratio (CRR)-Regional Rural Banks(RRBs)Please refer to our circular RPCD.CO.RRB.No.BC.35/03.05.28(B) /2007-2008 (RBI/2007-08/175) dated October 31, 2007 on the captioned subject. On review of the current liquidity situation, it has been decided to increase Cash Reserve Ratio (CRR) of a

RBI/2007-2008/288RPCD.CO.RF.BC.No.59/07.02.01/2007-08 April 21, 2008All Scheduled State Co-operative BanksDear Sir,Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of CRR Please refer to our Circular RBI/2007-2008/174 RPCD.CO.RF.BC.No.34/ 07.02.01/2007-08 dated October 30, 2007 on the captioned subject. On a review of the current liquidity situation, it has been decided to increase Cash Reserve Ratio (CRR) of Scheduled State Co-operative Banks by one-half

RBI/2007-08/237 RPCD.CO.RRB.No.BC.47/03.05.28 (B)/2007-08 February 14, 2008 All Regional Rural Banks Dear Sir, Section 24 of the Banking Regulation Act, 1949 Maintenance of Statutory Liquidity Ratio (SLR) - RRBs Please refer to our DBOD circular No. BC.137/12.02.001/97-98 dated October 21, 1997 on the captioned subject. The Banking Regulation (Amendment) Act, 2007 replacing the Banking Regulation (Amendment) Ordinance, 2007 came into effect from January 23, 2007. Cons

RBI/2007-2008/203 RPCD.CO.RF.BC.40/07.38.03/2007-08 December 4, 2007 13 Agrahayana, Saka 1929 The Chairman / Managing Director All State and Central Co-operative Banks Dear Sir, Mid-Term Review of Annual Policy Statement for the year 2007-08 -Application of Capital Adequacy Norms to State and Central Co-operative Banks Please refer to Paragraph 149 of the Mid-Term Review of Annual Policy Statement for the year 2007-08 (copy of the extract enclosed). At present, State

RBI/2007-08/196 RPCD.CO. RRB.No.BC.39/03.05.33 /2007-08 November 29, 2007@@NBSP@@ The Chairmen All Regional Rural Banks (RRBs) Dear Sir, Deposit schemes with lock-in period It has been brought to our notice that some banks are offering special term deposit products to customers, in addition to regular term deposits, ranging from 300 days to five years, with the following features: i. Lock-in periods ranging from 6 to 12 months; ii. During the lock-in period, premature