(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