RbiSearchHeader

Press escape key to go back

Past Searches

Theme
Theme
Text Size
Text Size
S3

Notification Marquee

आरबीआई की घोषणाएं
आरबीआई की घोषणाएं

RbiAnnouncementWeb

RBI Announcements
RBI Announcements

Asset Publisher

55514619

Opening of Current Account and Subsidiary General Ledger Account with Reserve Bank and Membership of Indian Financial Network (INFINET) and Real Time Gross Settlement (RTGS) System

RBI/2010-11/277
UBD.BPD. (PCB).Cir. No.24/12.05.001/2010-11

November 16, 2010

The Chief Executive Officers of
All Urban Co-operative Banks

Dear Sir / Madam,

Opening of Current Account and Subsidiary General Ledger Account with Reserve Bank and Membership of Indian Financial Network (INFINET) and Real Time Gross Settlement (RTGS) System

In the Second Quarter Review of Monetary Policy of the Reserve Bank of India for the Year 2010-11, it was announced that Urban Co-operative Banks (UCBs) would be allowed current account and SGL account with the Reserve Bank as also membership of INFINET and RTGS. The relevant paragraph of the Review is reproduced below.

Access to INFINET Membership, Current/SGL Accounts with the Reserve Bank and RTGS Membership for UCBs

97. In order to enable urban co-operative banks (UCBs) to serve their customers better, it is proposed :

• to allow all licensed UCBs (other than those under all inclusive directions) the facility of Indian Financial Network (INFINET) membership, current and Subsidiary General Ledger (SGL) accounts with the Reserve Bank; and

• to allow Real Time Gross settlement (RTGS) membership  to only well managed and financially sound UCBs having a minimum net worth of Rs. 25 crore.

2.  Accordingly, it has been decided to permit all licensed UCBs, other than those under all inclusive Directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS), to open Current Account and Subsidiary General Ledger (SGL) Account with the RBI.  Such UCBs are also allowed to take up membership of the INFINET and RTGS. However, for RTGS membership, the UCBs apart from being financially sound and well managed are required to have a minimum net-worth of Rs. 25 crore.

3.  Urban Co-operative Banks satisfying the prescribed eligibility criteria and desirous of availing of the above facilities may approach the Regional Director, Reserve Bank of India, Mumbai Office, Fort, Mumbai – 400 001.

Yours faithfully,

(A. Udgata)
Chief General Manager-in-Charge

RbiTtsCommonUtility

प्ले हो रहा है
ಕೇಳಿ

Related Assets

RBI-Install-RBI-Content-Global

RbiSocialMediaUtility

ಭಾರತೀಯ ರಿಸರ್ವ್ ಬ್ಯಾಂಕ್ ಮೊಬೈಲ್ ಅಪ್ಲಿಕೇಶನ್ ಅನ್ನು ಇನ್ಸ್ಟಾಲ್ ಮಾಡಿ ಮತ್ತು ಇತ್ತೀಚಿನ ಸುದ್ದಿಗಳಿಗೆ ತ್ವರಿತ ಅಕ್ಸೆಸ್ ಪಡೆಯಿರಿ!

Scan Your QR code to Install our app

RbiWasItHelpfulUtility

ಈ ಪುಟವು ಸಹಾಯಕವಾಗಿತ್ತೇ?