Notifications

Ad-hoc/Short Review/Renewal of Credit Facilities

RBI/2020-21/27 DoS.CO.PPG.BC.1/11.01.005/2020-21 August 21, 2020 All Scheduled Commercial Banks (excluding RRBs) All Small Finance Banks All Urban Cooperative Banks Madam/Dear Sir, Ad-hoc/Short Review/Renewal of Credit Facilities In terms of circular DBOD.No.BP.(SC).BC.98/21.04.103/99 dated October 7, 1999 on Risk Management System in Banks, Scheduled Commercial Banks (SCBs) are required to put in place a board approved credit policy, which, inter alia, should prescri

RBI/2020-21/27 DoS.CO.PPG.BC.1/11.01.005/2020-21 August 21, 2020 All Scheduled Commercial Banks (excluding RRBs) All Small Finance Banks All Urban Cooperative Banks Madam/Dear Sir, Ad-hoc/Short Review/Renewal of Credit Facilities In terms of circular DBOD.No.BP.(SC).BC.98/21.04.103/99 dated October 7, 1999 on Risk Management System in Banks, Scheduled Commercial Banks (SCBs) are required to put in place a board approved credit policy, which, inter alia, should prescri

Ad-hoc/Short Review/Renewal of Credit Facilities

New Definition of Micro, Small and Medium Enterprises - clarifications

RBI/2020-2021/26 FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 August 21, 2020 The Chairman/ Managing Director/Chief Executive OfficerAll Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative BanksAll-India Financial InstitutionsAll Non-Banking Financial Companies Dear Sir / Madam, New Definition of Micro, Small and Medium Enterprises – cl

RBI/2020-2021/26 FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 August 21, 2020 The Chairman/ Managing Director/Chief Executive OfficerAll Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative BanksAll-India Financial InstitutionsAll Non-Banking Financial Companies Dear Sir / Madam, New Definition of Micro, Small and Medium Enterprises – cl

New Definition of Micro, Small and Medium Enterprises - clarifications

Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s Democratic Republic of Congo List

RBI/2020-21/25 DOR.AML.BC. No. 8/14.06.001/2020-21 August 21, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s Democratic Republic of Congo List Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlawful Activiti

RBI/2020-21/25 DOR.AML.BC. No. 8/14.06.001/2020-21 August 21, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s Democratic Republic of Congo List Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlawful Activiti

Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s Democratic Republic of Congo List

Framework for authorisation of pan-India Umbrella Entity for Retail Payments

A. Objective To set-up pan-India umbrella entity / entities focussing on retail payment systems. Such entity shall be a Company incorporated in India under the Companies Act, 2013 and may be a ‘for-profit’ or a Section 8 Company as may be decided by it. B. Authorisation under the Payment and Settlement Systems Act, 2007 (PSS Act) The umbrella entity shall be a Company authorised by Reserve Bank of India (RBI) under Section 4 of the PSS Act, 2007. It shall be governed

A. Objective To set-up pan-India umbrella entity / entities focussing on retail payment systems. Such entity shall be a Company incorporated in India under the Companies Act, 2013 and may be a ‘for-profit’ or a Section 8 Company as may be decided by it. B. Authorisation under the Payment and Settlement Systems Act, 2007 (PSS Act) The umbrella entity shall be a Company authorised by Reserve Bank of India (RBI) under Section 4 of the PSS Act, 2007. It shall be governed

Framework for authorisation of pan-India Umbrella Entity for Retail Payments

Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2020

RESERVE BANK OF INDIA (Foreign Exchange Department) (Central Office) Mumbai – 400001 Notification No. FEMA 6 (R)/(2)/2020-RB August 11, 2020 Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2020 In exercise of the powers conferred by clause (ga) of sub- section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Expo

RESERVE BANK OF INDIA (Foreign Exchange Department) (Central Office) Mumbai – 400001 Notification No. FEMA 6 (R)/(2)/2020-RB August 11, 2020 Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2020 In exercise of the powers conferred by clause (ga) of sub- section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Expo

Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2020

Offline Retail Payments using Cards / Wallets / Mobile Devices - Pilot

RBI/2020-21/22 DPSS.CO.PD.No.115/02.14.003/2020-21 August 06, 2020 The Chairman / Managing Director / Chief Executive OfficerAuthorised Payment System Operators (Banks and Non-banks) Madam / Dear Sir, Offline Retail Payments using Cards / Wallets / Mobile Devices – Pilot Please refer to the Statement on Developmental and Regulatory policies issued as part of Monetary Policy statement dated August 06, 2020 wherein it was proposed that the Reserve Bank would allow a pil

RBI/2020-21/22 DPSS.CO.PD.No.115/02.14.003/2020-21 August 06, 2020 The Chairman / Managing Director / Chief Executive OfficerAuthorised Payment System Operators (Banks and Non-banks) Madam / Dear Sir, Offline Retail Payments using Cards / Wallets / Mobile Devices – Pilot Please refer to the Statement on Developmental and Regulatory policies issued as part of Monetary Policy statement dated August 06, 2020 wherein it was proposed that the Reserve Bank would allow a pil

Offline Retail Payments using Cards / Wallets / Mobile Devices - Pilot

Online Dispute Resolution (ODR) System for Digital Payments

RBI/2020-21/21 DPSS.CO.PD No.116/02.12.004/2020-21 August 6, 2020 The Chairman / Managing Director / Chief Executive Officer Authorised Payment System Operators and Participants (Banks and Non-banks) Madam / Dear Sir, Online Dispute Resolution (ODR) System for Digital Payments Please refer to the Statement on Developmental and Regulatory Policies dated August 6, 2020 wherein the Reserve Bank of India (RBI) had announced introduction of Online Dispute Resolution (ODR)

RBI/2020-21/21 DPSS.CO.PD No.116/02.12.004/2020-21 August 6, 2020 The Chairman / Managing Director / Chief Executive Officer Authorised Payment System Operators and Participants (Banks and Non-banks) Madam / Dear Sir, Online Dispute Resolution (ODR) System for Digital Payments Please refer to the Statement on Developmental and Regulatory Policies dated August 6, 2020 wherein the Reserve Bank of India (RBI) had announced introduction of Online Dispute Resolution (ODR)

Online Dispute Resolution (ODR) System for Digital Payments

Loans against Gold Ornaments and Jewellery for Non-Agricultural End-uses

RBI/2020-21/19 DoR.No.BP.BC/6/21.04.048/2020-21 August 6, 2020 All Scheduled Commercial Banks (Including Regional Rural Banks) Madam/Dear Sir, Loans against Gold Ornaments and Jewellery for Non-Agricultural End-uses Please refer to the circulars DBOD.No.BP.BC.27/21.04.048/2014-15 July 22, 2014 and DBR.RRB.BC.No.53/31.01.001/2016-17 dated February 16, 2017. Under the extant guidelines, loans sanctioned by banks against pledge of gold ornaments and jewellery should not

RBI/2020-21/19 DoR.No.BP.BC/6/21.04.048/2020-21 August 6, 2020 All Scheduled Commercial Banks (Including Regional Rural Banks) Madam/Dear Sir, Loans against Gold Ornaments and Jewellery for Non-Agricultural End-uses Please refer to the circulars DBOD.No.BP.BC.27/21.04.048/2014-15 July 22, 2014 and DBR.RRB.BC.No.53/31.01.001/2016-17 dated February 16, 2017. Under the extant guidelines, loans sanctioned by banks against pledge of gold ornaments and jewellery should not

Loans against Gold Ornaments and Jewellery for Non-Agricultural End-uses

Implementation of Section 51A of UAPA, 1967 - Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Addition of one individual

RBI/2020-21/14 DOR.AML.BC.No.2/14.06.001/2020-21 July 18, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967 - Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Addition of one individual Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on April 20, 2020, in terms of which “Regulated Entities (REs) shall ensure that in

RBI/2020-21/14 DOR.AML.BC.No.2/14.06.001/2020-21 July 18, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967 - Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Addition of one individual Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on April 20, 2020, in terms of which “Regulated Entities (REs) shall ensure that in

Implementation of Section 51A of UAPA, 1967 - Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Addition of one individual

Fair Practices Code for Asset Reconstruction Companies

RBI/2020-21/13 DOR.NBFC(ARC) CC. No. 9/26.03.001/2020-21 July 16, 2020 All Asset Reconstruction Companies Madam/Dear Sir, Fair Practices Code for Asset Reconstruction Companies In exercise of the powers conferred by Section 9 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, Asset Reconstruction Companies registered with the Bank are advised to adopt ‘Fair Practices Code’ so as to ensure transparency and fai

RBI/2020-21/13 DOR.NBFC(ARC) CC. No. 9/26.03.001/2020-21 July 16, 2020 All Asset Reconstruction Companies Madam/Dear Sir, Fair Practices Code for Asset Reconstruction Companies In exercise of the powers conferred by Section 9 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, Asset Reconstruction Companies registered with the Bank are advised to adopt ‘Fair Practices Code’ so as to ensure transparency and fai

Fair Practices Code for Asset Reconstruction Companies