Press Releases - Regulating Commercial Banking - RBI - Reserve Bank of India
Press Releases
Dec 29, 1999
Report of the In-house Working Group on Asset Securitisation
The Reserve Bank of India had set up an in-house Working Group to examine securitisation as a process of financial engineering and its applicability to the Indian financial system, especially in the mortgage and infrastructure sectors. The Working Group, with Shri V.S.N. Murty, Chief General Manager In-Charge of Department of Non-Banking Supervision as the Chairman and Shri K.K. Vohra, Deputy General Manager as Member-Secretary, had, as members, senior officers drawn
The Reserve Bank of India had set up an in-house Working Group to examine securitisation as a process of financial engineering and its applicability to the Indian financial system, especially in the mortgage and infrastructure sectors. The Working Group, with Shri V.S.N. Murty, Chief General Manager In-Charge of Department of Non-Banking Supervision as the Chairman and Shri K.K. Vohra, Deputy General Manager as Member-Secretary, had, as members, senior officers drawn
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Dec 03, 1999
RBI sets up Working Group on Discounting of Bills by Banks
The Reserve Bank of India has constituted a Working Group on Discounting of Bills by banks to examine the possibility of extending bill discounting facility to services sector. At present, banks are allowed to discount only bills covering purchase of raw material/inventory for production purposes and sale of goods. Bills covering payment of electricity charges, customs duty, hire purchase/lease rental instalments and sale of securities are not eligible for discounting
The Reserve Bank of India has constituted a Working Group on Discounting of Bills by banks to examine the possibility of extending bill discounting facility to services sector. At present, banks are allowed to discount only bills covering purchase of raw material/inventory for production purposes and sale of goods. Bills covering payment of electricity charges, customs duty, hire purchase/lease rental instalments and sale of securities are not eligible for discounting
Nov 29, 1999
Now Income Tax payment at Designated Bank Branches
The income tax department has authorised designated branches of Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Dena Bank, Indian Overseas Bank, State Bank of India and United Bank of India to accept payment of income tax dues. Designated branches of these banks have made arrangements to receive advance income tax.The Reserve Bank of India has advised income tax assessees to take advantage of these standing arrangements made for their conven
The income tax department has authorised designated branches of Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Dena Bank, Indian Overseas Bank, State Bank of India and United Bank of India to accept payment of income tax dues. Designated branches of these banks have made arrangements to receive advance income tax.The Reserve Bank of India has advised income tax assessees to take advantage of these standing arrangements made for their conven
Nov 16, 1999
RBI issues guideline on Debit / Smart Cards
The Reserve Bank of India has issued guidelines to the banks for issuing of debit cards and smart cards. With the spread of information technology, electronic money, namely, debit cards and smart cards are being increasingly used as alternative payment instruments. These guidelines have been issued with a view to helping banks to introduce appropriate schemes in issuing of electronic cards to ease pressure on physical cash.Debit cards are plastic cards connected with
The Reserve Bank of India has issued guidelines to the banks for issuing of debit cards and smart cards. With the spread of information technology, electronic money, namely, debit cards and smart cards are being increasingly used as alternative payment instruments. These guidelines have been issued with a view to helping banks to introduce appropriate schemes in issuing of electronic cards to ease pressure on physical cash.Debit cards are plastic cards connected with
Nov 15, 1999
RBI releases Report on Trend and Progress of Banking in India - 1998-99
The Reserve Bank of India today released its Report on Trend and Progress of Banking in India 1998-99. The Report gives a comprehensive account of the performance of commercial and cooperative banks, as also of other financial entities during 1998-99, besides the policy and regulatory environment in which they operate. The highlight of the Report is a detailed treatment of main aspects of the functioning of the non-banking finance companies (NBFCs).The first chapter c
The Reserve Bank of India today released its Report on Trend and Progress of Banking in India 1998-99. The Report gives a comprehensive account of the performance of commercial and cooperative banks, as also of other financial entities during 1998-99, besides the policy and regulatory environment in which they operate. The highlight of the Report is a detailed treatment of main aspects of the functioning of the non-banking finance companies (NBFCs).The first chapter c
Nov 12, 1999
Clarification on Gold Deposit Scheme
Some clarifications have been sought as to whether the acceptance of gold under the gold deposit scheme is restricted only to gold in scrap form. The Reserve Bank of India has, therefore, clarified for the information of the general public that gold in any form such as ornaments, jewellery, coins, bars etc. may be tendered by the depositor to the bank authorised to accept such a deposit. The bank will then make a preliminary assay without breaking or changing the form
Some clarifications have been sought as to whether the acceptance of gold under the gold deposit scheme is restricted only to gold in scrap form. The Reserve Bank of India has, therefore, clarified for the information of the general public that gold in any form such as ornaments, jewellery, coins, bars etc. may be tendered by the depositor to the bank authorised to accept such a deposit. The bank will then make a preliminary assay without breaking or changing the form
Nov 01, 1999
RBI Working Group suggests roadmap for Credit Information Bureau
The Working Group constituted by the Reserve Bank of India to explore the possibilities of setting up a Credit Information Bureau in India submitted its report today. The Group in its report has pointed out that under the existing legal framework disclosure of information on banks’ customers is prohibited. However, pending legislative amendments, a beginning might be made for setting up a Credit Information Bureau that can operate with information relating to suit fil
The Working Group constituted by the Reserve Bank of India to explore the possibilities of setting up a Credit Information Bureau in India submitted its report today. The Group in its report has pointed out that under the existing legal framework disclosure of information on banks’ customers is prohibited. However, pending legislative amendments, a beginning might be made for setting up a Credit Information Bureau that can operate with information relating to suit fil
Nov 01, 1999
Banks to remain closed on January 1 for Public Dealings
The Reserve Bank of India has issued a directive advising that all scheduled commercial banks, including regional rural banks, would remain closed for public transactions on January 1, 2000. This is in conformity with the international practices as a part of contingency plan for the year 2000 (Y2K) preparations.As per the Reserve Bank directive, banks would have to be kept open on that day for staff members so that continuity of business operations in the year 2000 co
The Reserve Bank of India has issued a directive advising that all scheduled commercial banks, including regional rural banks, would remain closed for public transactions on January 1, 2000. This is in conformity with the international practices as a part of contingency plan for the year 2000 (Y2K) preparations.As per the Reserve Bank directive, banks would have to be kept open on that day for staff members so that continuity of business operations in the year 2000 co
Oct 09, 1999
Aggregate Deposits and Gross Bank Credit of All Scheduled Commercial Banks:Quarterly Handout: June 1999
The 'Banking Statistics: Quarterly Handout - June 1999' providing data on aggregate deposits and gross bank credit of scheduled commercial banks as on June 25, 1999, with various classifications, has been published by the Reserve Bank of India. The primary data have been collected from the scheduled commercial banks through the BSR-7 return. Data have been presented according to top hundred centres, population groups, districts, states and bank groups. The publication
The 'Banking Statistics: Quarterly Handout - June 1999' providing data on aggregate deposits and gross bank credit of scheduled commercial banks as on June 25, 1999, with various classifications, has been published by the Reserve Bank of India. The primary data have been collected from the scheduled commercial banks through the BSR-7 return. Data have been presented according to top hundred centres, population groups, districts, states and bank groups. The publication
Sep 29, 1999
Banks to remain closed for public on September 30, 1999
All scheduled banks and co-operative banks in India shall remain closed for public transactions on September 30, 1999 to enable them to close their half-yearly books of accounts.Rupambara Padhi ManagerPress Release : 1999-2000/447
All scheduled banks and co-operative banks in India shall remain closed for public transactions on September 30, 1999 to enable them to close their half-yearly books of accounts.Rupambara Padhi ManagerPress Release : 1999-2000/447
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