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यह है कि वर्तमान में बैंक नोटो का निर्गमन प्रतिभूमि रख कर किया जाता है ? यदि हां तो कौन सी प्रतिभूमि व कितनी मात्रा प्रति रूपये पर रखी जाती है उस नियम/ आदेश / संकल्प की अभिप्रमाणित प्रति छायाप्रति के रूप में उपलब्ध कराए।

1.

If any Indian bank fails, what is the minimum and maximum amount to be paid to a savings bank account holder of the bank?

If any Indian Bank fails in terms of Section 16(1) of the DICGC Act, 1961 “ the liability of the Corporation in respect of an insured bank will be limited to the deposits as on the date of the cancellation of the registration”.

Each depositor in a bank is insured up to a maximum of ₹1,00,000/-(Rupees One Lakh) for deposits either in savings account, current account or fixed deposits held by him in the same right and same capacity as on the date of liquidation/cancellation of bank’s licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.

If more than one deposit accounts (Savings, Current, and Recurring or Fixed deposit) are jointly held by individuals in one or more than one branch of a bank and if their names appear in the same order, then these joint accounts are considered as held in same capacity and same right. Accordingly, the balances held in all these accounts will be aggregated for the purpose of determining the insured amount within the limit of Rupees one lakh only and is paid after setting off any amount legally entitled to be recovered from the depositor by the bank.

However, in terms of revised guidelines issued on April 26, 2007, if individuals open more than one joint accounts in which their names are not in the same order or group of persons are different ,then the deposits held in these joint accounts are considered as held in different capacity and different right. Accordingly insurance cover will be available separately up to Rupees one lakh only to every such account where the names are appearing in different order or names are different. This has been explained in detail in the illustration. (Annex)

Insurance is extended only to the cash deposits held by the depositors of insured banks.

2.

If any Indian bank fails, what is the minimum and maximum amount to be paid to a Current holder of that bank?

3.

If any Indian bank fails, what is the minimum and maximum amount to be paid to a fixed deposit account holder of that bank?

4.

In case of dacoits or fire incident in the bank , what will be the amount of compensation to be paid to a locker holder in lieu of his belongings (gold silver jewellery) kept in the locker of that bank?

As detailed in the “Frequently Asked Questions” link on the Reserve Bank of India website ( http://www.rbi.org.in/scripts/FAQView.aspx?Id=39), the Reserve Bank decides the volume and value of banknotes to be printed each year. The quantum of banknotes that needs to be printed, broadly depends on the requirement for meeting the demand for banknotes due to GDP growth, replacement of soiled banknotes, inflation and reserve stock requirements. This estimation is done with the help of statistical models/techniques.

The Government of India decides the quantity of coins to be minted on the basis of indents received from the Reserve Bank. Although coins of all denominations are issued by the government, they are put into circulation through the Reserve Bank. The Reserve Bank is the sole authority for issuing banknotes in India under Section 22 of the Reserve Bank of India Act, 1934. It also derives the role of currency management from the above act.

The currency operations are carried out through its 18 issue offices, one sub-office at Lucknow, a currency chest at Kochi and a wide net work of currency chests. These offices receive fresh banknotes from the banknote printing presses. The issue offices of the Reserve Bank send fresh banknote remittances to the designated branches of commercial banks. Once the bank notes are released into the banking system, they form a part of the currency in circulation, which is the liability of the Issue Department of the Reserve Bank.

Section 34 (l) of the RBI Act requires that all bank notes issued by the Reserve Bank since April 1, 1935 and the currency notes issued by the Government of India before the commencement of operations of the Reserve Bank, be part of the liabilities of the Issue Department which stood at ₹12,016.24 billion as on June 30, 2013, including notes in circulation of ₹12,016.16 billion (Table 1).

The eligible assets of the Issue Department for backing its currency liabilities consist of gold (coin and bullion), foreign securities, rupee coin, Government of India securities, internal bills of exchange and other commercial papers.

Though printing of money per-se is not inflationary, the injection of the same in to the banking system could lead to rise in prices. It may be mentioned in this context, presently the Reserve Bank does not directly monetise fiscal deficit by participating in government securities auctions (primary bond market).

The Reserve Bank however, could influence money supply by changing short-term interest rates (which impact currency demand) or by open market operations (by impacting funds available to the banking sector).

From where can I procure the History of Reserve Bank of India publication and what is its cost? Please mention full address and phone number of the person whom I can contact to procure the above said publication?

The Reserve Bank of India History 1935 – 1981 (3 volumes) is available at leading book stores in India. It can also be purchased by sending cheques / draft drawn in favour of Reserve Bank of India payable at Mumbai and sent to

Director
Division of Reports and Knowledge Disemination
Department of Economic and Policy Research
Reserve Bank of India, Amar Building
Sixth floor, P.M.Road, Fort, Mumbai 400 001.
Phone: 022-22603000 Extn: 4609
Click here to send email

The price of the three volume set is Rs. 3700/- (including postal charge).

The list of major publications published by Department of Economic Policy Research is given below:

1. RBI Bulletin

2. Weekly Statistical Supplement (WSS)

3. Annual Report

4. Report on Trend and Progress of Banking In India

5. State Finances: A Study of Budgets

6. Report on Currency and Finance

7. Working Papers (published on RBI website only)

8. Occasional Papers

9. DRG Studies

Subscription process for the monthly RBI Bulletin and the Weekly Statistical Supplement is as follows:

*The price of a single copy without postage for regular subscription is Rs. 260 and for concessional subscription is Rs. 200.
@ Available for research students, full time teachers, academic institutions and public libraries in India. The Reserve Bank of India Bulletin is also available on Internet at http://www.bulletin.rbi.org.in
Payments should be made by Demand Draft / Crossed Cheque / pay Order drawn in favour of Reserve Bank of India and payable at Mumbai only. The forwarding letter enclosing DD / Crossed Cheque / Pay Order should be addressed to:
The Director, Division of Reports and Knowledge Dissemination, Department of Economic and Policy Research, Reserve Bank of India, Amar Building, 6th Floor, P.M.Road, Fort, Mumbai 400 001. Ph: 022 22603000 Extn. 4609 Fax: 022 22632110

Click here to send email

As mentioned under 1, CAD is compiled on a quarterly basis

Which factors influencing price of gold in India

How it affected Indian Economy & Dollar price

Since India imports gold from international market, its domestic prices (in India) are largely influenced by international gold prices. In addition to international price of gold, importer has also to pay customs duty of 10 per cent on value of imported gold which gets added to final local price of gold in India. Apart from these two major factors, there could be some impact of domestic demand and supply factors, which might be impacting local price of gold in India.

The international price of gold has increased significantly since 2005-06 which were broadly reflected in trend in domestic gold prices as well. High gold prices, both in international and domestic market, in turn impacted India’s import of gold in these years. This eventually led to stress in India’s balance of payments as current account deficit (CAD) widened in recent years. India’s CAD widened from US$ 48.1 billion in 2010-11 to US$ 78.2 billion in 2011-12 and US$ 88.2 billion in 2012-13. High CAD had also put downward pressure on rupee exchange rate against dollar in 2012-13 and Q1 of 2013-14. However, a sharp decline in international gold prices in 2013-14, along with various measures undertaken by the Government and the Reserve Bank helped in reducing gold imports during 2013-14. With lower imports, India’s CAD also narrowed sharply to US$ 32.4 billion in 2013-14. In recent months, rupee exchange rate against dollar has also stabilised.

Table 1: Gold Prices

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मैंने भारतीय रुपये के मुकाबले पाउंड की विनिमय दर के बारे में जानकारी प्राप्त करने का प्रयास किया है लेकिन यह किसी बैंक में या भारतीय रिज़र्व बैंक की वेबसाइट पर उपलब्ध नहीं है, इसलिए मैं आपसे 2 मई 2017 से 10 मई 2017 तक पाउंड की विनिमय दर मूल्य की जानकारी प्रदान करने का अनुरोध करता हूं।

10 जुलाई, 2018 से पहले जीबीपी/आईएनआर की संदर्भ दरों का ऐतिहासिक डेटा आरबीआई की वेबसाइट पर होम पेज- वर्तमान दरें>विनिमय दरें> अभिलेखागार पर उपलब्ध है। लिंक निम्नानुसार है: https://www.rbi.org.in/scripts/ReferenceRateArchive.aspx

10 जुलाई, 2018 से, एफबीआईएल (फाइनेंशियल बेंचमार्क इंडिया लिमिटेड) यूएसडी/आईएनआर, यूरो/आईएनआर, जीबीपी/आईएनआर और जेपीवाई/आईएनआर संदर्भ दरों की गणना और प्रकाशन करता है। लिंक नीचे दिया गया है: https://www.fbil.org.in/#/home

03 फरवरी, 2021

पी03352

पी03352

01.09.2021 से 21.09.2021 की अवधि के लिए आयात भुगतान करने के लिए यूएस डॉलर, बिक्री दर चार्ट।

10 जुलाई, 2018 से, फाइनेंशियल बेंचमार्क इंडिया प्राइवेट लिमिटेड (एफबीआईएल) ने यूएसडी/आईएनआर और अन्य प्रमुख मुद्राओं के लिए संदर्भ दर की गणना और प्रकाशन शुरू किया है। लिंक नीचे दिया गया है: https://www.fbil.org.in/#/home।

तदनुसार, भारतीय रिज़र्व बैंक (आरबीआई) ने इस तारीख से यूएसडी/आईएनआर और अन्य प्रमुख मुद्राओं के लिए संदर्भ दर का प्रकाशन बंद कर दिया है। कृपया संदर्भ दर की गणना और प्रसार पर 04 जुलाई, 2018 की हमारी प्रेस विज्ञप्ति- वित्तीय बेंचमार्क इंडिया प्राइवेट लिमिटेड (एफबीआईएल) द्वारा किया जाना- देखें। लिंक नीचे दिया गया है: https://www.rbi.org.in/web/rbi/-/computation-and-dissemination-of-reference-rate-taking-over-by-financial-benchmarks-india-private-limited-fbil-44393

05 अक्तूबर, 2021

संबंधित बैंक द्वारा अमेरिकी डॉलर की खरीद दर पर प्रभार लगाने का आधार क्या है?

कृपया बैंकों में ग्राहक सेवा पर 01 जुलाई 2015 के मास्टर परिपत्र का पैरा 6.1 देखें। सेवा प्रभार निर्धारित करने का निर्णय अलग-अलग बैंकों पर छोड़ दिया गया है। विभिन्न प्रकार की सेवाओं जैसे चेक संग्रहण के लिए प्रभार, आदि के लिए सेवा प्रभार निर्धारित करते समय बैंकों को यह सुनिश्चित करना चाहिए कि प्रभार युक्तिसंगत हों और इन सेवाओं को प्रदान करने की औसत लागत के अनुरूप ही हों। बैंकों को यह सुनिश्चित करने के लिए भी ध्यान रखना चाहिए कि कम गतिविधियों वाले ग्राहकों को दंडित नहीं किया जाए। लिंक नीचे दिया गया है: https://www.rbi.org.in/web/rbi/-/master-circular-on-customer-service-in-banks-9862

05 अक्तूबर, 2021

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यह जानने के लिए,
क्या पंजीकृत ब्रोकर द्वारा प्रदान किए गए प्लेटफॉर्म का उपयोग करके विदेशी मुद्रा व्यापार करना नीचे दिए गए मुद्रा जोड़ियों के लिए भारत में कानूनी है-
ईयूआर-यूएसडी

जीबीपी-यूएसडी

यूएसडी-जेपीवाई

एक्सएयू-यूएसडी

एक्सएजी-यूएसडी

कृपया जोड़ें कि क्या कोई अन्य जोड़ी कानूनी है।

I. विदेशी मुद्रा प्रबंध अधिनियम (फेमा), 1999 की धारा 3 (ए) के अनुसार, फेमा, 1999 में अन्यथा उपबंधित नियमों या विनियमों, या रिज़र्व बैंक की सामान्य या विशेष अनुमति को छोड़कर, कोई भी व्यक्ति किसी ऐसे व्यक्ति को विदेशी मुद्रा या विदेशी प्रतिभूति का लेन-देन या अंतरण नहीं करेगा जो प्राधिकृत व्यक्ति नहीं है।

II. विदेशी मुद्रा प्रबंध अधिनियम (फेमा), 1999 की धारा 5 और 6 के अनुसार, कोई भी व्यक्ति चालू और पूंजी खाता लेनदेन की अनुमति के लिए अधिकृत व्यक्ति को या उससे विदेशी मुद्रा बेच या आहरित कर सकता है।
III. विदेशी मुद्रा प्रबंध (विदेशी मुद्रा व्युत्पन्न संविदा) विनियमावली, 2000 की अनुसूची-I के साथ पठित विनियम 4 [दिनांक 3 मई, 2000 की अधिसूचना सं. फेमा 25/2000-आरबी] के अनुसार, कोई व्यक्ति, चाहे वह भारत का निवासी हो अथवा भारत से बाहर का निवासी हो, केवल प्राधिकृत डीलर के साथ विदेशी मुद्रा व्युत्पन्न संविदा कर सकता है। अधिकृत डीलरों की सूची निम्नलिखित लिंक पर उपलब्ध है: https://www.rbi.org.in/scripts/category.aspx
IV. इस सूची के अनुसार, विदेशी मुद्रा कारोबार के लिए प्लैटफ़ार्म प्रदान करने वाला ब्रोकर अधिकृत डीलर नहीं है।
V. इलेक्ट्रॉनिक ट्रेडिंग प्लेटफॉर्म (ईटीपी) (रिज़र्व बैंक) निदेश, 2018 [दिनांक 05 अक्टूबर 2018 की अधिसूचना सं.एफएमआरडी.एफएमआईडी.08/2018] के पैरा 3(1) के अनुसार, कोई भी संस्था इन निदेशों के तहत आरबीआई की पूर्व अनुमति प्राप्त किए बिना ईटीपी का परिचालन नहीं करेगी। लिंक इस प्रकार है: https://www.rbi.org.in/web/rbi/-/the-electronic-trading-platforms-reserve-bank-directions-2018-11385
VI. आरटीआई में संदर्भित प्लेटफॉर्म, इलेक्ट्रॉनिक ट्रेडिंग प्लेटफॉर्म (रिज़र्व बैंक) निदेश, 2018 के तहत अधिकृत नहीं है।
VII. कृपया बैंक की वेबसाइट पर उपलब्ध ‘इलेक्ट्रॉनिक/इंटरनेट ट्रेडिंग पोर्टल्स के माध्यम से विदेशी मुद्रा व्यापार पर आरबीआई की एडवाइजरी’ संबंधी प्रेस विज्ञप्ति (दिनांक 21 फरवरी 2011 की 2010-2011/1196) देखें- https://www.rbi.org.in/web/rbi/-/rbi-advisory-on-overseas-forex-trading-through-electronic-internet-trading-portals-23941
VIII. अनुमत मुद्रा जोड़ियों के संबंध में :  

i.  नकद/टॉम/स्पॉट लेनदेन में अनुमत मुद्रा जोड़ियाँ: विदेशी मुद्रा प्रबंध अधिनियम (फेमा), 1999 के पैरा 5 और 6 के अनुसार, निवासी अनुमत चालू और पूंजी खाता लेनदेन के लिए विदेशी मुद्रा खरीद या बेच सकते हैं। इसलिए, विदेशी मुद्रा लेनदेन की मुद्रा जोड़ी उस मुद्रा के अनुरूप होगी जिसमें अंतर्निहित चालू/पूंजी खाता लेनदेन को अंकित किया गया है।
ii. व्युत्पन्नी लेनदेन में अनुमत मुद्रा जोड़ियाँ :

ए. ओटीसी बाजार लेनदेन में : दिनांक 05 जुलाई 2016 के मास्टर निदेश- जोखिम प्रबंधन और अंतर-बैंक लेनदेन (समय-समय पर अद्यतित) के साथ पठित विदेशी मुद्रा प्रबंध (विदेशी मुद्रा व्युत्पन्न संविदा) विनियमावली, 2000 [दिनांक 3 मई 2000 की अधिसूचना सं.फेमा 25/2000-आरबी] के अनुसार,  निवासी  फेमा, 1999 के अंतर्गत अनुमत लेनदेनों पर विनिमय दर जोखिम की हेजिंग के प्रयोजन से भारतीय रुपये से संबंधित विदेशी मुद्रा व्युत्पन्नी लेनदेन कर सकते हैं। विदेशी मुद्रा व्युत्पन्नी लेनदेन जिसमें आईएनआर शामिल नहीं है, हेजिंग के अलावा अन्य उद्देश्य के लिए किया जा सकता है। इन दोनों मामलों में मुद्रा जोड़ी पर कोई प्रतिबंध नहीं है। कृपया निम्नलिखित लिंक देखें:
https://website.rbi.org.in/en/web/rbi/-/notifications/master-direction-risk-management-and-inter-bank-dealings-updated-as-on-june-06-2023-lt-span-gt-10485

बी. एक्स्चेंज ट्रेडेड व्युत्पन्नी लेनदेन में : दिनांक 6 अगस्त 2008 के समय-समय पर यथासंशोधित करेंसी फ्यूचर्स (रिज़र्व बैंक) निदेश, 2008 [अधिसूचना सं.एफ़ईडी.01/डीजी/(SG)-2008] और दिनांक 30 जुलाई 2010 के समय-समय पर यथासंशोधित एक्स्चेंज ट्रेडेड करेंसी ऑप्शंस निदेश, 2010 [अधिसूचना सं.एफ़ईडी.01/ईडी/(एचआरके)-2010] के साथ पठित विदेशी मुद्रा प्रबंध (विदेशी मुद्रा व्युत्पन्न संविदा) विनियम, 2000 [दिनांक 3 मई 2000 की अधिसूचना सं.फेमा 25/2000-आरबी] के अनुसार, निवासियों को भारत में भारतीय प्रतिभूति और विनिमय बोर्ड (सेबी) द्वारा मान्यता प्राप्त स्टॉक एक्सचेंजों पर यूएसडी-आईएनआर, यूरो-आईएनआर, जीबीपी-आईएनआर, जेपीवाई-आईएनआर, यूरो-यूएसडी, जीबीपी-यूएसडी और यूएसडी-जेपीवाई में मुद्रा वायदा और विकल्प संविदाएं करने की अनुमति है। कृपया निम्नलिखित लिंक देखें:
https://website.rbi.org.in/web/rbi/-/notifications/guidelines-on-trading-of-currency-futures-in-recognised-stock-new-exchanges-4410
https://website.rbi.org.in/web/rbi/-/notifications/guidelines-on-trading-of-currency-options-on-recognised-stock-new-exchanges-5913
https://website.rbi.org.in/web/rbi/-/notifications/guidelines-on-trading-of-currency-futures-and-exchange-traded-currency-options-in-recognized-stock-exchanges-introduction-of-cross-currency-futures-and-exchange-traded-option-contracts-10172

12 नवम्बर, 2021

ई06615

क्या भारत में विदेशी मुद्रा व्यापार वैध है?

i. निवासी व्यक्तियों को विदेशी मुद्रा प्रबंध अधिनियम, 1999 (फेमा) के अनुसार केवल अधिकृत व्यक्तियों के साथ और अनुमत उद्देश्यों के लिए विदेशी मुद्रा लेनदेन करने की अनुमति है। प्राधिकृत व्यक्तियों की सूची निम्नलिखित लिंक पर उपलब्ध है: https://www.rbi.org.in/scripts/category.aspx.
ii. इसके अलावा, इलेक्ट्रॉनिक ट्रेडिंग प्लेटफॉर्म (ईटीपी) (रिज़र्व बैंक) निदेश, 2018 [दिनांक 05 अक्टूबर, 2018 की अधिसूचना सं.एफएमआरडी.एफएमआईडी.07/2018-19] के पैरा 3 (1) के अनुसार, कोई भी संस्था इन निर्देशों के तहत आरबीआई के पूर्व प्राधिकरण प्राप्त किए बिना ईटीपी का संचालन नहीं करेगी। भारतीय रिज़र्व बैंक द्वारा प्राधिकृत ईटीपी की सूची निम्नलिखित लिंक पर उपलब्ध है: https://rbi.org.in/scripts/bs_viewcontent.aspx?Id=4080।
iii.इसके अलावा, कृपया 03 फरवरी, 2022 की आरबीआई प्रेस विज्ञप्ति (2021-2022/1660) और 07 सितंबर, 2022 की प्रेस विज्ञप्ति (2022-2023/835) देखें, जो क्रमशः https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=53216
और https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=54333
पर आरबीआई की वेबसाइट पर उपलब्ध हैं।  आप मार्गदर्शन के लिए
https://rbi.org.in/Scripts/FAQView.aspx?Id=146 पर आरबीआई की वेबसाइट पर उपलब्ध विदेशी मुद्रा लेनदेन पर अक्सर पूछे जाने वाले प्रश्नों (एफएक्यू) का भी संदर्भ ले सकते हैं।

17 अक्टूबर, 2022

टी01227

क्या बाइनरी ट्रेडिंग और भारत में विदेशी मुद्रा व्यापार प्लैटफ़ार्म के संबंध में आस्थगन (डेफरेंस) के लिए अनुबंध वैध है?

भारत में बाइनरी ट्रेडिंग और विदेशी मुद्रा में कॉन्ट्रैक्ट फॉर डिफरेंस (सीएफडी) की अनुमति नहीं है।

13 जनवरी, 2023

टी01227

भारतीय क्षेत्र में भारत के नागरिक को विदेशी मुद्रा में बाइनरी लेनदेन और कॉन्ट्रैक्ट फॉर डिफरेंस के लिए ऐप और वेबसाइट का उपयोग करने की अनुमति क्यों दी गई है?

विदेशी मुद्रा प्रबंध अधिनियम, 1999 के अनुसार निवासी व्यक्तियों को केवल प्राधिकृत व्यक्तियों के साथ और अनुमत उद्देश्यों के लिए विदेशी मुद्रा लेन-देन करने की अनुमति है।

13 जनवरी, 2023

ई00584

आरबीआई ने एक अलर्ट सूची प्रकाशित की थी जिसमें प्रतिबंधित विदेशी मुद्रा व्यापारियों की सूची थी। हम जानते हैं कि इन व्यापारियों के बैंक खातों को आरबीआई ने फ्रीज कर दिया है। इस खाते में भारी मात्रा में धन था जिसे हमारे देशों के सामान्य नागरिकों ने इन व्यापारियों की वैधता को जाने बिना निवेश किया था। इसलिए, मैं जानना चाहूंगा कि क्या कोई ऐसी प्रक्रिया है जिसके द्वारा आम आदमी इन विदेशी मुद्रा व्यापारियों से अपना पैसा वापस पा सकते हैं जिनकी संपत्ति आरबीआई द्वारा जब्त कर दी गई है।

भारतीय रिज़र्व बैंक ने भारतीय रिज़र्व बैंक की वेबसाइट पर https://rbi.org.in/scripts/bs_viewcontent.aspx?Id=4235 पर उपलब्ध 'चेतावनी सूची' में उल्लिखित संस्थाओं के किसी खाते/आस्तियों पर रोक नहीं लगाई है।

विदेशी मुद्रा लेनदेन के लिए अप्राधिकृत इलेक्ट्रॉनिक ट्रेडिंग प्लेटफॉर्म के बारे में शिकायतें राष्ट्रीय साइबर अपराध रिपोर्टिंग पोर्टल (https://cybercrime.gov.in) पर दर्ज की जा सकती हैं। यह पोर्टल पीड़ितों/शिकायतकर्ताओं को सभी प्रकार के साइबर अपराध की शिकायतों की ऑनलाइन रिपोर्ट करने की सुविधा प्रदान करने के लिए भारत सरकार की एक पहल है। पोर्टल पर रिपोर्ट की गई शिकायतों का निपटान शिकायतकर्ताओं द्वारा प्रदान की गई जानकारी के आधार पर राज्यों/केंद्र शासित प्रदेशों के संबंधित पुलिस अधिकारियों द्वारा किया जाता है। शिकायतें प्रवर्तन निदेशालय (ed-del-rev@nic.in) और राज्यों/संघ राज्य क्षेत्रों के संबंधित पुलिस प्राधिकारियों के पास भी दर्ज की जा सकती हैं।

02 फरवरी, 2023

In terms of circular RPCD.CO.MSME & NFS.BC.40/06.02.31/2012-2013 dated November 1, 2012 all Scheduled Commercial banks were advised to put in place a Non-discretionary One Time Settlement scheme for recovery of non-performing loans for the MSE sector, duly approved by the Board of Directors. The circular is available on our website www.rbi.org.in.

Reserve Bank of India vide its Circular RPCD.PLNFS.BC.N. 83/ 06.12.05/2000-01 dated April 28, 2001 on ‘Educational Loan Scheme’ had forwarded the Model Education Loan Scheme prepared by Indian Banks’ Association (IBA), for implementation by all Scheduled Commercial Banks (SCBs). The scheme has since been modified by IBA from time to time. The Scheme provides broad guidelines to the banks and implementing bank will have the discretion to make changes suiting to the convenience of students/parents etc. The scheme can be accessed at IBA’s website.

What are the guidelines pertaining to PMEGP scheme?

The PMEGP Scheme was formulated by Government of India and circulated by Reserve Bank of India. Vide its circular RPCD.PLNFS.BC.41/09.04.01/2008-2009 dated October 10, 2008, which is available on our website www.rbi.org.in.

• Hypothecation of crops: For KCC limit upto ₹1.00 lakh banks are to waive margin/security requirements.

• With tie-up for recovery: Banks may consider sanctioning loans on hypothecation of crops up to card limit of ₹3.00 lakh without insisting on collateral security.

• Collateral security: Collateral security may be obtained at the discretion of Bank for loan limits above ₹1.00 lakh in case of non-tie-up and above ₹3.00 lakh in case of tie-up advances.

• In states where banks have the facility of on-line creation of charge on the land records, the same shall be ensured.

• List of the Money Lending private financial organization of A.P. (exclusive for Scheduled Areas)
• Rate of Interest for those loans
• Maximum - Minimum Tenure and Mode of EMI
• Rate of Interest for the loan

1. As per para 4.1, banks are mandated not to accept collateral security in the case of loans up to ₹10 lakh extended to units in the Micro and Small Enterprises sector.
2. And as per para 4.7.(ii), banks have been advised to furnish the MSME borrowers with an indicative checklist of documents required for processing the loan application at the time of applying for the loan.

• List of the Money Lending private financial organization of A.P. (exclusive for Scheduled Areas)
• Rate of Interest for those loans
• Maximum - Minimum Tenure and Mode of EMI
• Rate of Interest for the loan

Presently, what is the yearly rate of interest / return on savings accounts in banks?

The Reserve Bank has deregulated the savings bank deposit interest rate with effect from October 25, 2011. Banks are now free to determine their savings bank deposit interest rate, subject to the following conditions:

(i) First, each bank will have to offer a uniform interest rate on savings bank deposits up to Rs. 1 lakh, irrespective of the amount in the account within this limit

(ii) Second, for savings bank deposits over Rs.1 lakh, a bank may provide differential rates of interest, if it so chooses. However, there should not be any discrimination from customer to customer on interest rates for similar amount of deposit.

Factors leading to increasing and decreasing of interest rate?

The Reserve Bank deregulated the interest rates on advances above Rs.2 lakh effective October 18, 1994. Effective July 1, 2010, banks are free to determine interest rates on all rupee advances (irrespective of the amount) with the approval of their respective Boards, subject to condition that all rupee advances should be only at or above their Base Rates. Further, interest rates on term deposits were deregulated by the Reserve Bank effective October 22, 1997 and savings deposits effective October 25, 2011. In a deregulated environment, banks are, therefore, free to determine their interest rates both on deposits and advances based on their commercial judgment.

Banks determine their interest rates on loans by taking into consideration various factors such as cost of funds, operational expenses, minimum margin to cover regulatory requirements of provisioning and capital charge, profit margin, customer / product specific charges, risk premia, term premia, etc. The movement in the Reserve Bank’s repo rate (key policy rate for signaling the monetary policy stance) also guides banks in deciding their interest rates.

I request you to please furnish me the following Reserve Bank of India’s monetary policy key rates, from 01.04.2011 to 31.03.2014 with dates from which these rates have become applicable for the banks in India.
1. Bank Rate
2. MSF Rate
3. Repo Rate
4. Reverse Repo Rate
5. CRR
6. SLR

The historical data, including the period from 01.04.2011 to 30.03.2014, in respect of Bank Rate, MSF Rate, Repo Rate, Reverse Repo Rate, CRR and SLR are available on the website of the Reserve Bank at http://dbie.rbi.org.in under tab ‘Key Rates’. As such the information sought by you is already available in the public domain.

You may please refer to

(i) the Fifth Bi-monthly Monetary Policy Statement, 2016-17 dated December 7, 2016
(https://rbi.org.in/web/rbi/-/fifth-bi-monthly-monetary-policy-statement-2016-17-resolution-of-the-monetary-policy-committee-mpc-reserve-bank-of-india-38818);

(ii) the First Bi-monthly Monetary Policy Statement, 2017-18 dated April 6, 2017
(https://rbi.org.in/web/rbi/-/first-bi-monthly-monetary-policy-statement-2017-18-resolution-of-the-monetary-policy-committee-mpc-reserve-bank-of-india-40069);

(iii) the Second Bi-monthly Monetary Policy Statement, 2017-18 dated June 7, 2017
(https://rbi.org.in/web/rbi/-/second-bi-monthly-monetary-policy-statement-2017-18-resolution-of-the-monetary-policy-committee-mpc-reserve-bank-of-india-40685);

(iv) the paper on “Macroeconomic Impact of Demonetisation - A Preliminary Assessment”, prepared by the staff of the RBI (https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/MID10031760E85BDAFEFD497193995BB1B6DBE602.PDF);

(v) RBI Mint Street Memo on “Demonetisation and Bank Deposit Growth” dated August 11, 2017
(https://rbi.org.in/Scripts/MSM_Demonetisation.aspx);

(vi) RBI Mint Street Memo on “Financialisation of Savings into Non-Banking Financial Intermediaries” dated August 11, 2017
(https://rbi.org.in/Scripts/MSM_FinancialisationofSavings.aspx)

And

(vii) RBI Bulletin article on “Impact of Demonetisation on the Financial Sector”, RBI Bulletin, November 2017
(https://www.rbi.org.in/Scripts/BS_ViewBulletin.aspx?Id=17201).

Frequently Asked RIA Queries

Query: RBI is decreasing repo rate, but my bank is not decreasing interest on my home loans. Why?

Reply: Effective October 18, 1994, the Reserve Bank of India has deregulated interest rates on Rupee advances above Rs.2 lakh of commercial banks. Further, effective July 1, 2010, rupee lending rates on advances up to Rs.2 lakh were also deregulated. As such, interest rates on all types of advances (fixed and floating interest rates) are decided by banks based on their commercial judgment subject to the general guidelines that banks should follow for setting interest rates.

Query: Information regarding lending rates by SCBs from 2003 to 2019.

Reply: The Benchmark Prime Lending Rate (BPLR) system was introduced by the Reserve Bank in 2003. Bank-wise data on BPLR are available on a quarterly basis since March 2003 on RBI’s website under tab ‘Site Map’ at the hyperlink: https://www.rbi.org.in/rbi-sourcefiles/lendingrate/LendingRates.aspx

After opening the link please go to “Explanatory note for data from the quarter ended June 2002 to June 2010” → “Bank wise data”.

The data on the Base Rate, which replaced the BPLR system in July 2010 are available from the quarter ended September 2010 onwards at the hyperlink:
https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/TABLE748F7AFE946F494B4C96F88D7D63D35258.PDF

The data on MCLR, which replaced the earlier Base Rate system in April, 2016 are available at the hyperlink: https://rbi.org.in/rbi-sourcefiles/lendingrate/LendingRates.aspx

After opening the link please go to “Bank-wise data”.

Query: Change in policy rate by RBI since 2003

Reply: The information on changes made in the policy repo rate from time to time is available on the website of the Reserve Bank of India www.rbi.org.in at the tab Statistics – Data Base on Indian Economy – Key Rates. (URL: https://dbie.rbi.org.in/DBIE/dbie.rbi?site=home)

Query: Interest charged by banks on housing loan.

Reply: The required data on interest rates on housing loans are available since March 2012 onwards in RBI Annual Report published by RBI every year. The reports may be available in the following link: URL https://rbi.org.in.

After opening the link please go to ‘Publications’ → ‘Annual’ [for Annual report 2018-19 (chapter III titled ‘Monetary Policy Operations’)] → ‘Table III.3: Sector-wise WALR of SCBs (Excluding RRBs) - Outstanding Rupee Loans’.

The latest data on sector wise lending rates are available for the month of August 2019 in Monetary Policy Report published by RBI. The reports may be available in the following link: URL https://rbi.org.in.

After opening the link please go to ‘Publications’ → ‘Half-Yearly’ → ‘Monetary Policy Report’ [for Monetary Policy Report- October 2019 (chapter IV titled ‘Financial Markets and Liquidity Conditions’)] → ‘Chart IV.21: Sector-wise WALR relative to 1-Year Median MCLR- August 2019’.

Time frame prescribed by the Reserve Bank of India to different banks for clearance of local and outstation cheques.

Prescription of penalty by the Reserve Bank of India for non-clearance of cheques in the prescribed time frame

Definition and explanation of terms 'local' and 'outstation' in the context of cheque clearance by the Reserve Bank of India.

The Reserve Bank of India(RBI) has advised banks to frame their own Cheque Collection Policies (CCPs) in respect of local and outstation cheques which should include explicit mention of time frame for collection of both local and outstation cheques.

Banks have been further advised vie our circular DPSS.CO.(CHD)No.873/03.09.01/2008-09 dated November 24, 2008 to modify their CCPs in accordance with orders of the National Consumer Disputes Redressal Commission in the case No.82 of 2006 on Delays in Cheque Clearing.

Accordingly, for local cheques debit and credit shall be given on the same day or at the most the next day of their presentation in clearing. Timeframe for collection of outstation cheques drawn on state capitals/major cities/ other locations should be 7/10/14 days respectively. This timeframe is the outer limit and credit shall be afforded if the process gets completed earlier.

If there is any delay in collection beyond the prescribed period, interest at the rate specified in the cheque collection policy of the bank, shall be paid. In case the rate is not spcesified in the CCP, the applicable rate shall be the interest rate on fixed deposits for the corresponding maturity. The link to the CCP of banks has been hosted on our website www.rbi.org.in.

Local cheques are those cheques that are drawn on branches within the jurisdiction of the Local Clearing House. All other cheques would be outstation cheques. However, there are cheques called multicity cheques and at par cheques which are payable in all cities where the drawee bank has a branch irrespective of the city on which it is drawn.

Provide the details of information, guidelines, circulars, notifications and regulations made by Reserve Bank of India in chronological order for scheduled and private banks operating in India, using OTP via phone IVR and mobile phone technology for any kind of financial as well as monetary transactions to make it more convenient and secured as a system.

RBI has issued the following guidelines to make card transactions more secured:

(i) Requirement of additional factor of authentication for online transactions except Interactive Voice Response (IVR) transactions was enabled, vide, circular RBI / DPSS NO. 1501 / 02.14.003 / 2008 - 2009 dated February 18, 2009. This circular has been placed on RBI website at the link
http://www.rbi.org.in/web/rbi/-/credit-debit-card-transactions-security-issues-and-risk-mitigation-measures-4844

(ii) Requirement of additional factor of authentication/validation extended to IVR transaction with effect from February 1, 2011 vide, circular DPSS .CO. NO. 1503 / 02.14.003 / 2010 - 2011 dated December 31, 2010. This circular has been placed on the RBI website at the link
http://www.rbi.org.in/web/rbi/-/security-issues-and-risk-mitigation-measures-related-to-card-not-present-transactions-6185

(iii) Requirement of online alerts to customers for all types of card transaction at all channels irrespective of the amount was made applicable, vide, circular DPSS. CO. PD. 2224 / 02.14.003 / 2010 - 2011 dated March 29, 2011. This circular has been placed on the RBI website at the link
http://www.rbi.org.in/web/rbi/-/security-issues-and-risk-mitigation-measures-online-alerts-to-the-cardholder-for-usage-of-credit-debit-cards-6309

ATM transaction is failed due to technical/network problem. Amount is not dispensed but account is debited in such circumstances. What are the rules for refund/credit of such amount? Such refund should be made within how many days?

Banks have been advised by the Reserve Bank of India, vide, circular DPSS. PD. No. 2632 / 02.10.002 / 2010 - 2011 dated May 27, 2011 that:

1. Effective from July 1, 2011, banks have to reimburse the customers, the amount wrongfully debited on account of failed ATM transactions within a maximum period of 7 working days from the receipt of the customer complaint.

2. Banks have to pay customers Rs. 100/- per day for delays beyond 7 working days from the date of receipt of the complaint.

If the complaint is not lodged within 30 days of transaction, the customer is not entitled for any compensation for delay in resolving his / her complaint.

1. The date of implement of new cheques with printed name and account of cheque owner in the recognized Banks.

Reserve Bank of India vide its circular DPSS.CO.CHD.No./ 1112 / 04.07.05 / 2011-12 dated December 27, 2011 advised all banks providing cheque facility to their customers to issue only 'CTS-2010' standard cheques across the country by September 30, 2012. Account number in such cheques should be pre-printed for current account holders and corporate customers and as far as possible to other category of customers.

However, printing the name of the account holder was not mandated by Reserve Bank of India. RBI circular issued in this regard (DPSS.CO.CHD.No. 1832 / 04.07.05 / 2009-10 dated February 22, 2010) may be referred for the purpose.

Copies of the circulars referred to above are available on the website of Reserve Bank of India under the following links :
http://www.rbi.org.in/web/rbi/-/standardisation-and-enhancement-of-security-features-in-cheque-forms-implementation-of-cts-2010-standard-6901

2. The old cheques got issued prior to the date of implement of new cheques (i.e. during the year 2006) from the recognized Banks are applicable or not after the date of implement of new cheques.

Reserve Bank of India vide its circular DPSS.CO.CHD.No.133/04.07.05/2013-14 dated July 16, 2013 notified that cheques which are not complying with CTS-2010 standards would continue to be valid but will be cleared at less frequent intervals from January 1, 2014 as detailed in paragraph 2(a) of the above referred circular.

Copy of the circular referred to above is available on the website of Reserve Bank of India under the following link:

3. If not applicable, kindly arrange to intimate the date of disapplicable / disimplement of old cheques along with instruction, if any.

As my bank (Dakshin Bihar Gramin Bank) charged me for the UPI transaction charges of Rs. 597.

So that I want to know that, is there any charges for UPI transactions that can be charged by banks for the number of transactions through UPI and the amount of a single transaction done by UPI.

With effect from January 1, 2020, in terms of section 10A of the Payment and Settlement Systems Act, 2007 (PSS Act) – inserted vide the Finance Act, 2019 – no bank or system provider shall impose, whether directly or indirectly, any charge upon a person making or receiving a payment using the electronic modes of payment prescribed under section 269-SU of the Income Tax Act, 1961 (43 of 1961). 

Central Board of Direct Taxes (CBDT) vide notification no. 105/2019-Income Tax dated December 30, 2019, notified Unified Payments Interface (UPI) (BHIM-UPI) as one of the prescribed electronic modes.

Can a merchant take extra charge of 3% on the payment by credit cards or 2.5% on the payment by debit cards from the customer? because merchants are taking the extra charge of 3 to 4% on the payment by the credit cards or debit cards on POS machines.

Reserve Bank of India (RBI) has not issued any instructions on levy of charges on Credit Card transactions. 

However, you may refer to the circular on “Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions” dated December 06, 2017 available on the RBI website under the link:
https://website.rbi.org.in/en/web/rbi/-/notifications/rationalisation-of-merchant-discount-rate-mdr-for-debit-card-transactions-11183

An account holder may raise his / her grievance with the card issuer. In case, the account holder is not satisfied with the response or the response is not received within a month’s time, he / she may lodge his / her grievance under Reserve Bank - Integrated Ombudsman Scheme, through the Complaint Management System (CMS) portal (https://cms.rbi.org.in) or by e-mail at crpc@rbi.org.in or in physical mode at the ‘Centralised Receipt and Processing Centre’ (CRPC) set up at RBI, 4th Floor, Sector 17, Chandigarh - 160017.

State Bank of India was granted extension for validity of old MICR cheque books of erstwhile State Bank of Bikaner and Jaipur and State Bank of Hyderabad up to June 30, 2018.

2. Union Bank of India was granted extension for validity of old MICR cheque books of erstwhile Andhra Bank up to June 30, 2021.

List of NBFCs registered with RBI is available on
https://rbi.org.in/web/rbi/regulations-non-banking/other-links/list-of-nbfcs

List of HFCs registered with National Housing Bank (NHB) is available on https://nhb.org.in/en/list-of-housing-finance-companies-granted-certificate/

The details of audit firms appointed/reappointed as Statutory Branch Auditors (SBAs) by Public Sector Banks and allocation of branches can be accessed in the following path: https://rbi.org.in  FUNCTIONWISE SITES → Regulation →  Commercial Banking → For Bankers → Appointment of Statutory Auditors.

List of Non-Banking Financial Companies (NBFCs), Scheduled Commercial Banks (SCBs) & Urban Cooperative Banks (UCBs) is available on following link: -

https://rbi.org.in -> Functionwise sites -> Regulation -> Non-Banking -> List of NBFCs and ARCs registered with the RBI.

https://rbi.org.in -> Functionwise sites -> Regulation -> Commercial Banking -> For Bankers -> List of Scheduled Commercial Banks (SCBs)

https://rbi.org.in -> About Us -> Site Map -> Financial Intermediaries