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Official Website of Reserve Bank of India	
પ્રેસ રિલીઝ
												માર્ચ 31, 2003
                                                    
                                            
                                            
                                                
                                                    
																													RBI introducing Special Electronic Funds Transfer
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The Reserve Bank of India, in conjunction with the banks, has embarked upon a Special Electronic Funds Transfer (SEFT) Scheme. The Scheme would enable safe, secure and quick transfer of funds electronically across branches of banks at many centres of the country. The Scheme would be introduced from April 1, 2003, with the settlement taking place at Mumbai for inter-bank funds transfers.The salient features of the Scheme are:The Scheme is designed to provide for same d
                                                        
                                                        
                                                    
                                                    The Reserve Bank of India, in conjunction with the banks, has embarked upon a Special Electronic Funds Transfer (SEFT) Scheme. The Scheme would enable safe, secure and quick transfer of funds electronically across branches of banks at many centres of the country. The Scheme would be introduced from April 1, 2003, with the settlement taking place at Mumbai for inter-bank funds transfers.The salient features of the Scheme are:The Scheme is designed to provide for same d
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												માર્ચ 12, 2003
                                                    
                                            
                                            
                                                
                                                    
																													Mumbai Clearing House to be closed on March 14 and May 14 : RBI
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The Reserve Bank of India has stated that the clearing house in Mumbai will not function on March 14, 2003 as the Government of Maharashtra has declared it as a holiday under the Negotiable Instruments Act, 1881 on account of Moharrum. Earlier, the holiday for Moharrum was declared on March 15, 2003. Now, the clearing house will function normally on March 15, 2003The clearing house in Reserve Bank of India in Mumbai will also remain closed on May 14, 2003 instead of M
                                                        
                                                        
                                                    
                                                    The Reserve Bank of India has stated that the clearing house in Mumbai will not function on March 14, 2003 as the Government of Maharashtra has declared it as a holiday under the Negotiable Instruments Act, 1881 on account of Moharrum. Earlier, the holiday for Moharrum was declared on March 15, 2003. Now, the clearing house will function normally on March 15, 2003The clearing house in Reserve Bank of India in Mumbai will also remain closed on May 14, 2003 instead of M
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ફેબ્રુ 04, 2003
                                                    
                                            
                                            
                                                
                                                    
																													RBI Governor inaugurates CVPS in Mumbai
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	Dr. Bimal Jalan, Governor, Reserve Bank of India today inaugurated the Currency Verification and Processing System (CVPS) in Mumbai Office of the Reserve Bank of India. The currency verification and processing systems have been installed in the Reserve Bank offices for faster and secured processing of soiled currency notes. Weeding out soiled currency notes and replacing them with fresh ones are part of the Clean Note Policy being followed by the Reserve Bank of India
                                                        
                                                        
                                                    
                                                    Dr. Bimal Jalan, Governor, Reserve Bank of India today inaugurated the Currency Verification and Processing System (CVPS) in Mumbai Office of the Reserve Bank of India. The currency verification and processing systems have been installed in the Reserve Bank offices for faster and secured processing of soiled currency notes. Weeding out soiled currency notes and replacing them with fresh ones are part of the Clean Note Policy being followed by the Reserve Bank of India
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ઑગસ્ટ 05, 2002
                                                    
                                            
                                            
                                                
                                                    
																													Report of the Working Group on Electronic Money
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The increase in the use of e-money in India in future could have far reaching effect on payments habit as also on the transmission mechanism of monetary policy. In order to examine these issues, the Reserve Bank of India had set-up a working group comprising officials from market participants and the Reserve Bank of India. The Chairman of the working group was Mr. Zarir J. Cama, Chief Executive Officer, Hongkong and Shanghai Banking Corporation. The working group subm
                                                        
                                                        
                                                    
                                                    The increase in the use of e-money in India in future could have far reaching effect on payments habit as also on the transmission mechanism of monetary policy. In order to examine these issues, the Reserve Bank of India had set-up a working group comprising officials from market participants and the Reserve Bank of India. The Chairman of the working group was Mr. Zarir J. Cama, Chief Executive Officer, Hongkong and Shanghai Banking Corporation. The working group subm
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												ડિસે 15, 2001
                                                    
                                            
                                            
                                                
                                                    
																													RBI pushes for Retail and Electronic Trading of G-secs
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The Negotiated Dealing System (NDS) will become operational from January 15, 2002. The system will operationalise, to begin with, by allowing members of Negotiated Dealing System (NDS) to put their bids electronically for repos and reverse repos under the Liquidity Adjustment Facility (LAF). In other words, from this date, the NDS members will not have to put in their bids/ applications in physical form for LAF auctions held daily by the Reserve Bank of India. This wa
                                                        
                                                        
                                                    
                                                    The Negotiated Dealing System (NDS) will become operational from January 15, 2002. The system will operationalise, to begin with, by allowing members of Negotiated Dealing System (NDS) to put their bids electronically for repos and reverse repos under the Liquidity Adjustment Facility (LAF). In other words, from this date, the NDS members will not have to put in their bids/ applications in physical form for LAF auctions held daily by the Reserve Bank of India. This wa
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												મે 29, 2001
                                                    
                                            
                                            
                                                
                                                    
																													T + 1 Settlement of SGL transactions
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	In the Monetary & Credit Policy 2001-02, it was proposed that from June 2, 2001, all transactions in Government securities settled through the Subsidiary General Ledger (SGL)/Delivery versus Payment (DVP) system would be on T + 1 basis. The feedback from the market participants with whom Reserve Bank has had several rounds of consultation is that the date from which T + 1 settlement will be introduced for Subsidiary General Ledger settled transactions should be co
                                                        
                                                        
                                                    
                                                    In the Monetary & Credit Policy 2001-02, it was proposed that from June 2, 2001, all transactions in Government securities settled through the Subsidiary General Ledger (SGL)/Delivery versus Payment (DVP) system would be on T + 1 basis. The feedback from the market participants with whom Reserve Bank has had several rounds of consultation is that the date from which T + 1 settlement will be introduced for Subsidiary General Ledger settled transactions should be co
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												જાન્યુ 16, 2001
                                                    
                                            
                                            
                                                
                                                    
																													Advisory Groups on "Payment and Settlement System" and on "Bankruptcy laws" Submit Reports
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	It may be recalled that Standing Committee on International Financial Standards and Codes was constituted in December 1999 in order to identify and monitor developments in global standards and codes, consider aspects of applicability of these standards to Indian financial system, periodically review the status and make available its reports to all concerned organisations in public or private sector. The Standing Committee chaired by Deputy Governor, Reserve Bank of In
                                                        
                                                        
                                                    
                                                    It may be recalled that Standing Committee on International Financial Standards and Codes was constituted in December 1999 in order to identify and monitor developments in global standards and codes, consider aspects of applicability of these standards to Indian financial system, periodically review the status and make available its reports to all concerned organisations in public or private sector. The Standing Committee chaired by Deputy Governor, Reserve Bank of In
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												સપ્ટે 27, 2000
                                                    
                                            
                                            
                                                
                                                    
																													Advisory Group on Payment and Settlement Systems Submits Report
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	It may be recalled that the Governor, Reserve Bank of India constituted a Standing Committee on International Financial Standards and Codes in December 1999 in order to identify and monitor developments in global standards and codes, consider aspects of applicability of these standards to Indian financial system, periodically review the status and make available its reports to all concerned organisations in public or private sector. The Standing Committee chaired by D
                                                        
                                                        
                                                    
                                                    It may be recalled that the Governor, Reserve Bank of India constituted a Standing Committee on International Financial Standards and Codes in December 1999 in order to identify and monitor developments in global standards and codes, consider aspects of applicability of these standards to Indian financial system, periodically review the status and make available its reports to all concerned organisations in public or private sector. The Standing Committee chaired by D
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												જૂન 10, 2000
                                                    
                                            
                                            
                                                
                                                    
																													Meeting of the National Payments Council
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The National Payments Council under the Chairmanship of Deputy Governor, Shri S.P.Talwar met on June 09, 2000 to discuss the latest developments in the Payments System and the future possibilities. The Council members welcomed the passing of the Information Technology (IT) Bill and the grant of one transponder on INSAT 3-B which will augment the capacity of the Indian Financial Network (INFINET). The Council reviewed the ongoing initiatives for implementing the Centra
                                                        
                                                        
                                                    
                                                    The National Payments Council under the Chairmanship of Deputy Governor, Shri S.P.Talwar met on June 09, 2000 to discuss the latest developments in the Payments System and the future possibilities. The Council members welcomed the passing of the Information Technology (IT) Bill and the grant of one transponder on INSAT 3-B which will augment the capacity of the Indian Financial Network (INFINET). The Council reviewed the ongoing initiatives for implementing the Centra
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
																						                                        
												માર્ચ 31, 2000
                                                    
                                            
                                            
                                                
                                                    
																													RBI sets up Working Group on Priority Areas  in Banking Technology
																											
                                                    
                                                        
															
                                                
                                                
                                            
                                            
																	The Information Technology applications in the banking and financial sector in India have grown sharply in recent years. IT can be leveraged to bring about significant improvements in a number of areas including decision making, house keeping, customer service, payment flows, etc., in the banking and financial sector. To ensure the accrual of optimal benefits, necessary human resources development measures and requisite steps to beef up security in IT use have to be t
                                                        
                                                        
                                                    
                                                    The Information Technology applications in the banking and financial sector in India have grown sharply in recent years. IT can be leveraged to bring about significant improvements in a number of areas including decision making, house keeping, customer service, payment flows, etc., in the banking and financial sector. To ensure the accrual of optimal benefits, necessary human resources development measures and requisite steps to beef up security in IT use have to be t
                                            
                                            
                                            
                                            
												
													
												
												
												
												
														
                                            
                                                 
                                            
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