Notifications - Consumer Education and Protection - RBI - Reserve Bank of India
Notifications
Apr 12, 2018
Interest rates for Small Savings Schemes
RBI/2017-18/160 DGBA.GBD. 2573/15.02.005/2017-18 April 12, 2018 The Chairman/Chief Executive Officer Agency Banks handling Small Saving Schemes Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GBD.1781/15.02.005/2017-18 dated January 11, 2018 on the above subject. The Government of India, has vide their Office Memorandum (OM) No.F.No.01/04/2016–NS dated March 28, 2018 has stated that the interest rates on Small Savings Schemes for th
RBI/2017-18/160 DGBA.GBD. 2573/15.02.005/2017-18 April 12, 2018 The Chairman/Chief Executive Officer Agency Banks handling Small Saving Schemes Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GBD.1781/15.02.005/2017-18 dated January 11, 2018 on the above subject. The Government of India, has vide their Office Memorandum (OM) No.F.No.01/04/2016–NS dated March 28, 2018 has stated that the interest rates on Small Savings Schemes for th
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Apr 06, 2018
Cash Management activities of the banks Standards for engaging the Service Provider and its sub-contractor
RBI/2017-18/152 DCM (Plg) No.3563/10.25.07/2017-18 April 06, 2018 The Chairman / Managing Director / Chief Executive Officer,Public Sector Banks / Private Sector Banks / Foreign Banks /Regional Rural Banks / Primary (Urban) Co-operative Banks /State Co-operative Banks / District Central Co-operative Banks. Madam / Dear Sir, Cash Management activities of the banks Standards for engaging the Service Provider and its sub-contractor It was announced vide para 11 of the St
RBI/2017-18/152 DCM (Plg) No.3563/10.25.07/2017-18 April 06, 2018 The Chairman / Managing Director / Chief Executive Officer,Public Sector Banks / Private Sector Banks / Foreign Banks /Regional Rural Banks / Primary (Urban) Co-operative Banks /State Co-operative Banks / District Central Co-operative Banks. Madam / Dear Sir, Cash Management activities of the banks Standards for engaging the Service Provider and its sub-contractor It was announced vide para 11 of the St
Feb 23, 2018
Ombudsman Scheme for Non-Banking Financial Companies, 2018
DEPUTY GOVERNOR Ombudsman Scheme for Non-Banking Financial Companies, 2018 NOTIFICATION Ref.CEPD.PRS.No.3590/13.01.004/2017-18 February 23, 2018 In exercise of the powers conferred by Section 45L of the Reserve Bank of India Act, 1934, the Reserve Bank of India (RBI) being satisfied that for the purpose of enabling it to promote conducive credit culture among the Non Banking Financial Companies (NBFCs) and to regulate the credit system of the country to its advantage,
DEPUTY GOVERNOR Ombudsman Scheme for Non-Banking Financial Companies, 2018 NOTIFICATION Ref.CEPD.PRS.No.3590/13.01.004/2017-18 February 23, 2018 In exercise of the powers conferred by Section 45L of the Reserve Bank of India Act, 1934, the Reserve Bank of India (RBI) being satisfied that for the purpose of enabling it to promote conducive credit culture among the Non Banking Financial Companies (NBFCs) and to regulate the credit system of the country to its advantage,
Feb 23, 2018
Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer
RBI/2017-18/133 DNBR.PD.CC.No 091/03.10.001/2017-18 February 23, 2018 All NBFCs Madam/ Dear Sir, Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer The Reserve Bank of India (RBI) has brought into operation today the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (The Scheme). The Scheme is available on the RBI website /en/web/rbi. The Non-Banking Financial Companies (NBFCs) that are covere
RBI/2017-18/133 DNBR.PD.CC.No 091/03.10.001/2017-18 February 23, 2018 All NBFCs Madam/ Dear Sir, Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer The Reserve Bank of India (RBI) has brought into operation today the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (The Scheme). The Scheme is available on the RBI website /en/web/rbi. The Non-Banking Financial Companies (NBFCs) that are covere
Feb 15, 2018
Acceptance of coins
RBI/2017-18/132 DCM (RMMT) No.2945/11.37.01/2017-18 February 15, 2018 The Chairman and Managing Director / The Managing Director/The Chief Executive OfficerAll Banks Dear Sir Acceptance of coins We invite a reference to Paragraph 1 (d) of our Master Circular DCM (NE) No. G - 1/08.07.18/2017-18 dated July 03, 2017 on Facility for Exchange of Notes and Coins where it was advised that none of the bank branches should refuse to accept small denomination notes and / or coi
RBI/2017-18/132 DCM (RMMT) No.2945/11.37.01/2017-18 February 15, 2018 The Chairman and Managing Director / The Managing Director/The Chief Executive OfficerAll Banks Dear Sir Acceptance of coins We invite a reference to Paragraph 1 (d) of our Master Circular DCM (NE) No. G - 1/08.07.18/2017-18 dated July 03, 2017 on Facility for Exchange of Notes and Coins where it was advised that none of the bank branches should refuse to accept small denomination notes and / or coi
Feb 01, 2018
Small Saving Schemes - Payment of Agency Commission
RBI/2017-18/127 DGBA.GBD.No.1972/15.02.005/2017-18 February 01, 2018 All Agency Banks handling Small Saving Schemes Dear Sir / Madam Small Saving Schemes – Payment of Agency Commission Please refer to Government of India Notification F. No. 7/10/2014-NS dated October 10, 2017, wherein, all Public Sector Banks, ICICI Bank Ltd., Axis Bank Ltd., and HDFC Bank Ltd., were authorised to receive subscriptions under National Saving Time Deposit Scheme, 1981, National Saving (
RBI/2017-18/127 DGBA.GBD.No.1972/15.02.005/2017-18 February 01, 2018 All Agency Banks handling Small Saving Schemes Dear Sir / Madam Small Saving Schemes – Payment of Agency Commission Please refer to Government of India Notification F. No. 7/10/2014-NS dated October 10, 2017, wherein, all Public Sector Banks, ICICI Bank Ltd., Axis Bank Ltd., and HDFC Bank Ltd., were authorised to receive subscriptions under National Saving Time Deposit Scheme, 1981, National Saving (
Dec 21, 2017
Prompt implementation of Governments’ instructions by agency banks
RBI/2017-18/111 DGBA.GBD/1616/15.02.005/2017-18 December 21, 2017 All Agency Banks Dear Sir / Madam, Prompt implementation of Governments’ instructions by agency banks It is brought to our notice that some agency banks are not adhering to instructions/ notifications issued by Government (Central as well as States) promptly by stating that further communications have not been received by them from RBI. 2. In this connection, all agency banks are advised to scrupulously
RBI/2017-18/111 DGBA.GBD/1616/15.02.005/2017-18 December 21, 2017 All Agency Banks Dear Sir / Madam, Prompt implementation of Governments’ instructions by agency banks It is brought to our notice that some agency banks are not adhering to instructions/ notifications issued by Government (Central as well as States) promptly by stating that further communications have not been received by them from RBI. 2. In this connection, all agency banks are advised to scrupulously
Dec 07, 2017
Settlement of Agency transactions in certain cases (for Funds and Agency Commission) directly from Reserve Bank of India
RBI/2017-18/107 DGBA.GBD.No-1498/31.02.007/2017-18 December 7, 2017 The Chairman/ Managing Director/ Chief Executive Officer/ Agency Banks Dear Sir/ Madam Settlement of Agency transactions in certain cases (for Funds and Agency Commission) directly from Reserve Bank of India As per the existing arrangements in certain states, in certain cases, some agency banks are routing their agency transactions of state governments through another agency bank, that acts as an aggr
RBI/2017-18/107 DGBA.GBD.No-1498/31.02.007/2017-18 December 7, 2017 The Chairman/ Managing Director/ Chief Executive Officer/ Agency Banks Dear Sir/ Madam Settlement of Agency transactions in certain cases (for Funds and Agency Commission) directly from Reserve Bank of India As per the existing arrangements in certain states, in certain cases, some agency banks are routing their agency transactions of state governments through another agency bank, that acts as an aggr
Nov 30, 2017
Reporting of Transactions by agency banks to RBI
RBI/2017-18/103 DGBA.GBD.1472/31.02.007/2017-18 November 30, 2017 All Agency Banks Dear Sir Reporting of Transactions by agency banks to RBI It has been brought to our notice that some agency banks are reporting government transactions after considerable delay and along with the current transactions to RBI, without taking necessary authorisation from the concerned government departments. 2. As per the extant instructions, state government transactions (electronic as w
RBI/2017-18/103 DGBA.GBD.1472/31.02.007/2017-18 November 30, 2017 All Agency Banks Dear Sir Reporting of Transactions by agency banks to RBI It has been brought to our notice that some agency banks are reporting government transactions after considerable delay and along with the current transactions to RBI, without taking necessary authorisation from the concerned government departments. 2. As per the extant instructions, state government transactions (electronic as w
Nov 23, 2017
Special Deposit Scheme (SDS)-1975 Payment of interest for calendar year 2017
RBI/2017-18/100 DGBA.GBD.No.1387/15.01.001/2017-18 November 23, 2017 The Chairman/Managing Director/Chief Executive Officer/ Agency Banks Handling the Special Deposit Scheme 1975 Dear Sir Special Deposit Scheme (SDS)-1975 Payment of interest for calendar year 2017 We want to inform that gazette notifications related to interest rates for SDS 1975 are available in Government of India website viz. egazette.nic.in which can be perused for guidance. You may please ensure
RBI/2017-18/100 DGBA.GBD.No.1387/15.01.001/2017-18 November 23, 2017 The Chairman/Managing Director/Chief Executive Officer/ Agency Banks Handling the Special Deposit Scheme 1975 Dear Sir Special Deposit Scheme (SDS)-1975 Payment of interest for calendar year 2017 We want to inform that gazette notifications related to interest rates for SDS 1975 are available in Government of India website viz. egazette.nic.in which can be perused for guidance. You may please ensure
Nov 16, 2017
Agency Commission for GST receipt transactions
RBI/2017-18/95 DGBA.GBD.No.1324/31.02.007/2017-18 November 16, 2017 All Agency Banks Dear Sir / Madam Agency Commission for GST receipt transactions Please refer to Para 15 of our Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated July 01, 2017 related to claiming of agency commission. 2. After implementation of GST framework, it was decided to modify paragraph 15 of the captioned Master Circular. The modified paragr
RBI/2017-18/95 DGBA.GBD.No.1324/31.02.007/2017-18 November 16, 2017 All Agency Banks Dear Sir / Madam Agency Commission for GST receipt transactions Please refer to Para 15 of our Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated July 01, 2017 related to claiming of agency commission. 2. After implementation of GST framework, it was decided to modify paragraph 15 of the captioned Master Circular. The modified paragr
Oct 12, 2017
Interest rates for Small Savings Schemes
RBI/2017-18/74 DGBA.GBD.954/15.02.005/2017-18 October 12, 2017 The Chairman/Chief Executive Officer Agency Banks handling Public Provident Fund, Kisan Vikas Patra- 2014, Sukanya Samriddhi Account, Senior Citizen Savings Scheme-2004 Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GBD.69/15.02.005/2017-18 dated July 13, 2017 on the above subject. The Government of India, had vide their Office Memorandum (OM) No.F.No.01/04/2016–NS date
RBI/2017-18/74 DGBA.GBD.954/15.02.005/2017-18 October 12, 2017 The Chairman/Chief Executive Officer Agency Banks handling Public Provident Fund, Kisan Vikas Patra- 2014, Sukanya Samriddhi Account, Senior Citizen Savings Scheme-2004 Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GBD.69/15.02.005/2017-18 dated July 13, 2017 on the above subject. The Government of India, had vide their Office Memorandum (OM) No.F.No.01/04/2016–NS date
Jul 06, 2017
Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions
RBI/2017-18/15 DBR.No.Leg.BC.78/09.07.005/2017-18 July 6, 2017 All Scheduled Commercial Banks (including RRBs) All Small Finance Banks and Payments Banks Dear Sir/ Madam, Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions Please refer to our circular DBOD.Leg.BC.86/09.07.007/2001-02 dated April 8, 2002 regarding reversal of erroneous debits arising from fraudulent or other transactions. 2. With the increased thrust on
RBI/2017-18/15 DBR.No.Leg.BC.78/09.07.005/2017-18 July 6, 2017 All Scheduled Commercial Banks (including RRBs) All Small Finance Banks and Payments Banks Dear Sir/ Madam, Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions Please refer to our circular DBOD.Leg.BC.86/09.07.007/2001-02 dated April 8, 2002 regarding reversal of erroneous debits arising from fraudulent or other transactions. 2. With the increased thrust on
Feb 08, 2017
Removal of limits on withdrawal of cash from Saving Bank Accounts
RBI/2016-17/224 DCM (Plg) 3107/10.27.00/2016-17 February 08, 2017 All Banks Dear Madam / Sir, Removal of limits on withdrawal of cash from Saving Bank Accounts Please refer to our circular DCM (Plg) 2905/10.27.00/2016-17 dated January 30, 2017 on the captioned subject. 2. In the wake of withdrawal of Specified Bank Notes (SBNs) since November 09, 2016 Reserve Bank had placed certain limits on cash withdrawals from Savings / Current / Cash credit /Overdraft accounts an
RBI/2016-17/224 DCM (Plg) 3107/10.27.00/2016-17 February 08, 2017 All Banks Dear Madam / Sir, Removal of limits on withdrawal of cash from Saving Bank Accounts Please refer to our circular DCM (Plg) 2905/10.27.00/2016-17 dated January 30, 2017 on the captioned subject. 2. In the wake of withdrawal of Specified Bank Notes (SBNs) since November 09, 2016 Reserve Bank had placed certain limits on cash withdrawals from Savings / Current / Cash credit /Overdraft accounts an
Jan 30, 2017
Limits on Cash withdrawals from Bank accounts and ATMs - Restoration of status quo ante
RBI/2016-17/217 DCM (Plg) No. 2905/10.27.00/2016-17 January 30, 2017 The Chairman / Managing Director / Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks,Regional Rural Banks / Urban Co-operative Banks,State Co-operative Banks / District Central Co-operative Banks Dear Sir/Madam, Limits on Cash withdrawals from Bank accounts and ATMs - Restoration of status quo antePlease refer to our circular DCM (Plg) No.1226/10.27.00/2016-17 dated
RBI/2016-17/217 DCM (Plg) No. 2905/10.27.00/2016-17 January 30, 2017 The Chairman / Managing Director / Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks,Regional Rural Banks / Urban Co-operative Banks,State Co-operative Banks / District Central Co-operative Banks Dear Sir/Madam, Limits on Cash withdrawals from Bank accounts and ATMs - Restoration of status quo antePlease refer to our circular DCM (Plg) No.1226/10.27.00/2016-17 dated
Jan 16, 2017
Enhancement of withdrawal limits from ATMs and Current Accounts
RBI/2016-17/213 DCM (Plg) No.2559/10.27.00/2016-17 January 16, 2017 The Chairman / Managing Director / Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks/District Central Co-operative Banks Dear Sir, Enhancement of withdrawal limits from ATMs and Current Accounts Please refer to our circulars DCM (Plg) No. 1274, 1317, 1437 and 2142/10.27.00/2016-17 dated Novem
RBI/2016-17/213 DCM (Plg) No.2559/10.27.00/2016-17 January 16, 2017 The Chairman / Managing Director / Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks/District Central Co-operative Banks Dear Sir, Enhancement of withdrawal limits from ATMs and Current Accounts Please refer to our circulars DCM (Plg) No. 1274, 1317, 1437 and 2142/10.27.00/2016-17 dated Novem
Jan 03, 2017
Exchange facility to foreign citizens
RBI/2016-17/208 A.P. (DIR Series) Circular No. 24 January 03, 2017 To All Authorised Persons Madam / Sir, Exchange facility to foreign citizens Attention of Authorized Persons is invited to the A.P. (DIR Series) Circular No. 20 dated November 25, 2016 permitting foreign citizens to exchange foreign exchange for Indian currency notes up to a limit of ₹ 5000/- per week till December 15, 2016 and extended up to December 31, 2016 vide A.P. (DIR Series) Circular No. 22 dat
RBI/2016-17/208 A.P. (DIR Series) Circular No. 24 January 03, 2017 To All Authorised Persons Madam / Sir, Exchange facility to foreign citizens Attention of Authorized Persons is invited to the A.P. (DIR Series) Circular No. 20 dated November 25, 2016 permitting foreign citizens to exchange foreign exchange for Indian currency notes up to a limit of ₹ 5000/- per week till December 15, 2016 and extended up to December 31, 2016 vide A.P. (DIR Series) Circular No. 22 dat
Jan 03, 2017
Allocation of cash for rural areas
RBI/2016-17/207 DCM (Plg) No.2200/10.27.00/2016-17 January 03, 2017 The Chairman / Managing Director/ Chief Executive Officer, (All banks with currency chests) Dear Sir / Madam Allocation of cash for rural areas Please refer to our circulars DCM (Plg) No.1345/10.27.00/2016-17 dated November 22, 2016 and DCM (Plg) No.1508/10.27.00/2016-17 dated December 02, 2016 on making cash available for rural areas. 2. On observing that bank notes, being supplied to rural areas, at
RBI/2016-17/207 DCM (Plg) No.2200/10.27.00/2016-17 January 03, 2017 The Chairman / Managing Director/ Chief Executive Officer, (All banks with currency chests) Dear Sir / Madam Allocation of cash for rural areas Please refer to our circulars DCM (Plg) No.1345/10.27.00/2016-17 dated November 22, 2016 and DCM (Plg) No.1508/10.27.00/2016-17 dated December 02, 2016 on making cash available for rural areas. 2. On observing that bank notes, being supplied to rural areas, at
Dec 31, 2016
Facility for exchange of Specified Bank Notes (SBNs) during Grace Period - Verification of KYC and Account details
RBI/2016-17/205 DCM (Plg) No.2170 /10.27.00/2016-17 December 31, 2016 The Chairman / Managing Director/ Chief Executive Officer,Public Sector Banks/ Private Sector Banks / Foreign Banks/Regional Rural Banks / Urban Cooperative Banks/ State Cooperative BanksDistrict Central Cooperative Banks Dear Sir, Facility for exchange of Specified Bank Notes (SBNs) during Grace Period – Verification of KYC and Account details Please refer to the GoI Ordinance No. 10 of 2016 dated
RBI/2016-17/205 DCM (Plg) No.2170 /10.27.00/2016-17 December 31, 2016 The Chairman / Managing Director/ Chief Executive Officer,Public Sector Banks/ Private Sector Banks / Foreign Banks/Regional Rural Banks / Urban Cooperative Banks/ State Cooperative BanksDistrict Central Cooperative Banks Dear Sir, Facility for exchange of Specified Bank Notes (SBNs) during Grace Period – Verification of KYC and Account details Please refer to the GoI Ordinance No. 10 of 2016 dated
Dec 30, 2016
Cash withdrawal from ATMs - Enhancement of daily limits
RBI/2016-17/204 DCM (Plg) No. 2142/10.27.00/2016-17 December 30, 2016 The Chairman / Managing Director/ Chief Executive Officer,Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative BanksDistrict central Cooperative Banks Dear Sir, Cash withdrawal from ATMs – Enhancement of daily limits Please refer to our circular DCM (Plg) No. 1424/10.27.00/2016-17 dated November 25, 2016 on “Withdrawal of cash f
RBI/2016-17/204 DCM (Plg) No. 2142/10.27.00/2016-17 December 30, 2016 The Chairman / Managing Director/ Chief Executive Officer,Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative BanksDistrict central Cooperative Banks Dear Sir, Cash withdrawal from ATMs – Enhancement of daily limits Please refer to our circular DCM (Plg) No. 1424/10.27.00/2016-17 dated November 25, 2016 on “Withdrawal of cash f
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