Press Releases - RBI - Reserve Bank of India
Press Releases
Nov 08, 2005
No shortage of coins including Rs.5: RBI clarifies
The Reserve Bank of India has come across news reports stating that there is a shortage of Rs.5 coins due to which Rs.5 banknotes are being re-introduced. It is clarified, for the benefit of public that there is no shortage of coins of any denomination including Rs.5 coin with the offices of the Reserve Bank of India and also other banks. The members of public desirous of obtaining coins in any denominations, may do so in exchange, from the Reserve Bank of India as al
The Reserve Bank of India has come across news reports stating that there is a shortage of Rs.5 coins due to which Rs.5 banknotes are being re-introduced. It is clarified, for the benefit of public that there is no shortage of coins of any denomination including Rs.5 coin with the offices of the Reserve Bank of India and also other banks. The members of public desirous of obtaining coins in any denominations, may do so in exchange, from the Reserve Bank of India as al
PDF (
Nov 03, 2005
25 paise Coins – Valid for transactions as hitherto: Clarifies RBI
The Reserve Bank has been receiving complaints from members of public regarding non-acceptance of 25 paise coins by shops, business establishments, utility services and even public sector organisations/government departments. It is also understood that there is a general impression in commercial and trading circles that 25 paise coins have ceased to be valid and are no longer in circulation. The Reserve Bank wishes to clarify that such reports are without any basis an
The Reserve Bank has been receiving complaints from members of public regarding non-acceptance of 25 paise coins by shops, business establishments, utility services and even public sector organisations/government departments. It is also understood that there is a general impression in commercial and trading circles that 25 paise coins have ceased to be valid and are no longer in circulation. The Reserve Bank wishes to clarify that such reports are without any basis an
Aug 23, 2005
Payment in Foreign Currency not to be insisted upon
It has been brought to the notice of the Reserve Bank that some of the service providers like hotels etc. quote differential tariff for foreigners in US$ and insist that the payment be made in foreign exchange. This practice is not consistent with Foreign Exchange Management Act (FEMA), 1999 and also undermines the legality of domestic currency in India. Earlier, under Foreign Exchange Regulation Act (FERA), 1973, the Government of India had issued a Notification date
It has been brought to the notice of the Reserve Bank that some of the service providers like hotels etc. quote differential tariff for foreigners in US$ and insist that the payment be made in foreign exchange. This practice is not consistent with Foreign Exchange Management Act (FEMA), 1999 and also undermines the legality of domestic currency in India. Earlier, under Foreign Exchange Regulation Act (FERA), 1973, the Government of India had issued a Notification date
Jul 09, 2005
Deceased Depositors Accounts: Avoid Inconvenience and Hardships in Settlement of Claims: RBI tells Banks
In order to facilitate expeditious and hassle-free settlement of claims on the death of a depositor the Reserve Bank of India has asked the banks to follow a simple procedure with minimum documentation for release of the balance in deceased account holders’ accounts which operate under ‘Either or Survivor’ clause or in accounts which have a nomination. The Reserve Bank has advised banks to release the balance amounts in the deceased depositors’ accounts to the 'Surviv
In order to facilitate expeditious and hassle-free settlement of claims on the death of a depositor the Reserve Bank of India has asked the banks to follow a simple procedure with minimum documentation for release of the balance in deceased account holders’ accounts which operate under ‘Either or Survivor’ clause or in accounts which have a nomination. The Reserve Bank has advised banks to release the balance amounts in the deceased depositors’ accounts to the 'Surviv
May 20, 2005
Relief/Savings Bond holders to be compensated for late receipt of Interest/Principal
The Reserve Bank of India has today asked commercial banks to compensate the holders of Relief/Savings Bonds for the loss incurred by them on account of late receipt or delayed credit of the interest warrants/maturity value of their investments in these Bonds. The compensation would be paid at the current savings bank rate for the number of days of delay. The Reserve Bank has stated that its own offices will also pay such compensation in case the delay occurs at their
The Reserve Bank of India has today asked commercial banks to compensate the holders of Relief/Savings Bonds for the loss incurred by them on account of late receipt or delayed credit of the interest warrants/maturity value of their investments in these Bonds. The compensation would be paid at the current savings bank rate for the number of days of delay. The Reserve Bank has stated that its own offices will also pay such compensation in case the delay occurs at their
Sep 16, 2004
Coins of All Denominations are Legal Tender – RBI
The Reserve Bank of India has come across reports and has also received complaints that shopkeepers, traders, transport undertakings, Government departments, etc. do not readily accept 25 paise and 50 paise coins on the plea that these coins are no more legal tender or they are not accepted by bank branches. It is clarified for the benefit of public that all coins including 25 paise and 50 paise coins are legal tender and will continue to be so. Reluctance on the part
The Reserve Bank of India has come across reports and has also received complaints that shopkeepers, traders, transport undertakings, Government departments, etc. do not readily accept 25 paise and 50 paise coins on the plea that these coins are no more legal tender or they are not accepted by bank branches. It is clarified for the benefit of public that all coins including 25 paise and 50 paise coins are legal tender and will continue to be so. Reluctance on the part
Aug 16, 2004
RTGS Services now for Bank Customers: RBI
The Reserve Bank of India has, today announced that its Real Time Gross Settlement (RTGS) System has been enabled for ‘Straight Through Processing’ at the participant’s, that is, the bank’s end for putting through customer transactions. Straight through processing of customer transactions will, upon receiving the credit advice, allow banks to directly credit the customer’s account without any manual intervention. This will facilitate introduction of T+1 settlement in
The Reserve Bank of India has, today announced that its Real Time Gross Settlement (RTGS) System has been enabled for ‘Straight Through Processing’ at the participant’s, that is, the bank’s end for putting through customer transactions. Straight through processing of customer transactions will, upon receiving the credit advice, allow banks to directly credit the customer’s account without any manual intervention. This will facilitate introduction of T+1 settlement in
Jul 17, 2004
Simplification of RBI Note Refund Rules
The Reserve Bank of India (Note Refund) Rules, 1975, as amended from time to time, dealing with the adjudication of mutilated notes have been posted on our website www.rbi.org.in. With a view to simplify the same, the members of public are requested to make suggestions. The suggestions may be sent by post to the Chief General Manager, Department of Currency Management, Reserve Bank of India, Central Office, 21st Floor, Post Bag No.1379, Shahid Bhagat Singh Marg, Mumba
The Reserve Bank of India (Note Refund) Rules, 1975, as amended from time to time, dealing with the adjudication of mutilated notes have been posted on our website www.rbi.org.in. With a view to simplify the same, the members of public are requested to make suggestions. The suggestions may be sent by post to the Chief General Manager, Department of Currency Management, Reserve Bank of India, Central Office, 21st Floor, Post Bag No.1379, Shahid Bhagat Singh Marg, Mumba
May 25, 2004
Easing Individual Foreign Exchange Transactions : RBI implements Tarapore Committee recommendations
The Reserve Bank of India has initiated a variety of measures to ensure that individuals’ transactions in foreign exchange are as easy as their transactions in rupees. The measures include introduction of a liberalised scheme of personal remittance upto US$ 25,000 in February 2004 and removal of the restrictive clause of issuing Employees’ Stock Option at concessional rates. The Reserve Bank has also changed the name of the department handling the implementation of Fo
The Reserve Bank of India has initiated a variety of measures to ensure that individuals’ transactions in foreign exchange are as easy as their transactions in rupees. The measures include introduction of a liberalised scheme of personal remittance upto US$ 25,000 in February 2004 and removal of the restrictive clause of issuing Employees’ Stock Option at concessional rates. The Reserve Bank has also changed the name of the department handling the implementation of Fo
Apr 24, 2004
RBI disallows Certain Entities from accepting Fresh Deposits from NRIs
The Reserve Bank of India has today disallowed entities other than authorised dealers or authorised banks from accepting deposits from Non-Resident Indians (NRIs) received through fresh remittances from overseas. They will also not be permitted to accept deposits from NRIs by debit to their Non-Resident External (NRE)/Foreign Currency Non-Resident (Banks) (FCNR(B)) accounts. They will, however, be permitted to continue to hold the existing deposits and also renew such
The Reserve Bank of India has today disallowed entities other than authorised dealers or authorised banks from accepting deposits from Non-Resident Indians (NRIs) received through fresh remittances from overseas. They will also not be permitted to accept deposits from NRIs by debit to their Non-Resident External (NRE)/Foreign Currency Non-Resident (Banks) (FCNR(B)) accounts. They will, however, be permitted to continue to hold the existing deposits and also renew such
Install the RBI mobile application and get quick access to the latest news!
Page Last Updated on: August 01, 2025
