Financial Inclusion and Development

RBI/2012-13/413 RPCD.RCB.BC.No. 64/07.51.014/2012-13 February 07, 2013 The Chairmen / CEOs of all State and Central Co-operative Banks Madam / Dear Sir, Bank Finance for Purchase of Gold State and Central Co-operative Banks grant loans for various purposes against the security of gold / gold ornaments as part of their lending policy. 2. In terms of announcements made in paragraph 102 and 103 (extract enclosed) of the Second Quarter Review of Monetary Policy 2012-13 on

RBI/2012-13/407 RPCD.CO.RRB.RCB.BC. No.62/03.05.33/2012-13 January 29, 2013 The Chairmen/Chief Executive Officers, All Regional Rural Banks / State and Central Co-operative Banks Dear Sir, Bank Rate As announced in the Third Quarter Review of Monetary Policy 2012-13, the Bank Rate stands adjusted by 25 basis points from 9.00 per cent to 8.75 per cent with effect from January 29, 2013. 2. All penal interest rates on shortfall in reserve requirements, which are specific

RBI/2012-13/348 RPCD.CO. RCB.BC.No. 53/07.51.010/2012-13 December 24, 2012 The Chairmen / CEOs of all State and Central Co-operative Banks Dear Sir/Madam, The Co-operative Banks (Nomination) Rules, 1985 - Clarifications As you are aware, the Co-operative Banks (Nomination) Rules, 1985 have been framed in exercise of powers conferred under Section 52, read with Sections 45-ZA, 45-ZC, 45-ZE and 56 of the Banking Regulation Act, 1949 (10 of 1949). The nomination forms fo

RBI/2012-13/340 RPCD.CO.RRB.RCB.AML.No. 6163/07.51.018/2012-13 December 17, 2012 The Chairmen / CEOs of all Regional Rural Banks / State and Central Co-operative Banks Dear Sir, Anti Money Laundering (AML)/ Combating of Financing of Terrorism (CFT) - Standards Please refer to our circular RPCD.CO.RRB.RCB.AML.No.838/03.05.28(A)/2012-13 dated July 30, 2012 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions. 2. Financial Action Task Force h

RBI/2012-13/333 RPCD.RRB.BC.No. 51/ 03.05.33/2012-13 December 12, 2012 All Regional Rural Banks Dear Sir The Banking Companies (Nomination) Rules, 1985 - Clarifications 1. Witness in nomination forms As you are aware, the Banking Companies (Nomination) Rules, 1985 have been framed in exercise of powers conferred by Section 52 read with Sections 45ZA, 45ZC and 45ZE of the Banking Regulation Act, 1949. The nomination forms (DA1, DA2 and DA3) have also been prescribed in

RBI /2012-13/334 RPCD.RRB.BC.No.52/03.05.33/2012-13 December 14, 2012 All Regional Rural Banks Dear Sir/Madam Conversion of Term Deposits, Daily Deposits or Recurring Deposits for Reinvestment in Term Deposits by Regional Rural Banks As per extant instructions on Interest Rates on Deposits, RRBs on request from the depositor, should allow closure of a term deposit, a deposit in the form of daily deposit or recurring deposit, to enable the depositor to immediately rein

RBI/2012-13/318 RPCD.RRB.No.BC. 49/03.05.33/2012-13 December 06, 2012 All Regional Rural Banks Dear Sir, NPA Management – Requirement of an Effective Mechanism and Granular Data Please refer to the paragraph 100 (extract enclosed) of the Monetary Policy Statement 2012-13 announced on April 17, 2012. 2. As mentioned therein, asset quality of banks is one of the most important indicators of their financial health. However, it has been observed that existing MIS on the e

RBI/2012-13/317 RPCD.CO.BC. 50/03.05.33/2012-13 December 05, 2012 All Regional Rural Banks Dear Sir / Madam Bank finance for purchase of gold Please refer to paragraphs 102 and 103 (extract enclosed) of the Second Quarter Review of Monetary Policy 2012-13 announced on October 30, 2012, proposing that other than working capital finance, banks are not permitted to finance purchase of gold in any form. 2. In terms of extant guidelines, no advances should be granted by ba