Regulating Commercial Banking

RBI/2024-25/38
DOR.RET.REC.23/12.07.160/2024-25

May 24, 2024

All Banks

Madam / Dear Sir,

Exclusion of "Fincare Small Finance Bank Limited" from the Second Schedule to the Reserve Bank of India Act, 1934 and cessation as a banking company

It is informed that "Fincare Small Finance Bank Limited" has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from April 01, 2024, as the bank has ceased to carry on banking business with effect from April 01, 2024 vide Notification DOR.HOL.No.S173/16-02-003/2024-25 dated April 08, 2024, which is published in the Gazette of India (Part III - Section 4) dated May 14, 2024

DoS.CO.PPG.SEC.2/11.01.005/2024-25 May 21, 2024 All Scheduled Commercial Banks All Primary (Urban) Cooperative Banks Madam / Dear Sir, Internal Review – Interim Recommendations – Withdrawal of Circulars

RBI/2024-25/30 DoS.CO.PPG.SEC.1/11.01.005/2024-25 April 29, 2024 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) excluding Payments Banks All Primary (Urban) Co-operative Banks/ State Co-operative Banks/ District Central Co-operative Banks All Non-Banking Financial Companies (including Microfinance Institutions and Housing Finance Companies) Madam / Dear Sir, Fair Practices Code for Lenders – Charging of Interest The guidelines on Fair Practices Code issued to various Regulated Entities (REs) since 2003, inter-alia, advocate fairness and transparency in charging of interest by the lenders, while providing adequate freedom to REs as regards their loan pricing policy. 

RBI/2024-25/29 DOR. AML.REC.19/14.06.001/2024-25 April 26, 2024 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: Amendments in 01 Entry Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on January 04 , 2024 (MD on KYC), in terms of which “Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlawful Activities (Prevention) (UAPA) Act, 1967 and amendments thereto, they do not have any account in the name of individuals/entities appearing in the lists of individuals and entities, suspected of having terrorist links, which are approved by and periodically circulated by the United Nations Security Council (UNSC).” 

RBI/2024-25/
DOR.RET.REC. 18 /12.07.160/2024-25     April 25, 2024 All Commercial and Co-operative Banks Madam / Dear Sir, Alteration in the name of "AB Bank Limited" to "AB Bank PLC" in the Second Schedule to the Reserve Bank of India Act, 1934

It is advised that the name of "AB Bank Limited" has been changed to "AB Bank PLC" in the Second Schedule to the Reserve Bank of India Act, 1934 by Notification DOR.LIC.No.S6222/23.13.048/2023-24 dated January 25, 2024, which is published in the Gazette of India (Part III-Section 4) dated March 06, 2024.

RBI/2024-25/21 DOR. AML.REC.14 /14.06.001/2024-25 April 16, 2024 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 12A of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005: Designated List (Amendments)

RBI/2024-25/15 DOR.RET.REC.11/12.07.160/2024-25 April 10, 2024 All Commercial and Co-operative Banks Madam / Dear Sir, Alteration in the name of "Sonali Bank Limited" to "Sonali Bank PLC" in the Second Schedule to the Reserve Bank of India Act, 1934

RBI/2024-25/14 DOR.RET.REC.10/12.07.160/2024-25 April 05, 2024 All Commercial and Co-operative Banks Madam / Dear Sir,

Reserve Bank of India is entrusted with regulating the currency and credit system of the country to its advantage so as to maintain stability of the financial system. To this end, Reserve Bank prescribes necessary regulatory framework for its Regulated Entities (REs). With the growth of the REs in terms of number as well as scale of operations, increase in adoption of innovative technologies and enhanced customer outreach, a need is felt to develop better industry standards for self-regulation.

RBI/2023-24/134 DOR. AML.REC.83/14.06.001/2023-24 March 11, 2024 The Chairpersons/ CEOs of all the Regulated Entities