Financial Inclusion and Development

RBI/2014-15/288 RPCD.RRB.RCB.AML.No.4424/07.51.018/2014-15 October 31, 2014 Regional Rural Banks (RRBs) / State / Central Cooperative Banks (StCBs/CCBs) Madam / Dear Sir, KYC – Clarification on Proof of Address Please refer to our circular RPCD.RRB.RCB.AML.BC.No.111/07.51.018/2013-14 dated June 12, 2014 on the captioned subject. In this regard we also draw your attention to our circular RPCD.RRB.RCB.AML.No.2797/07.51.018/2014-15 dated September 9, 2014, forwarding cop

RBI/2014-15/287 RPCD.RRB.RCB.AML.BC.No.39/07.51.018/2014-15 @@NBSP@@October 31, 2014 Regional Rural Banks (RRBs) / State / Central Cooperative Banks (StCBs/CCBs) Madam / Dear Sir, Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) guidelines – clarifications on periodic updation of low risk customers, non-requirement of repeated KYC for the same customer to open new accounts and partial freezing of KYC non-

RBI/2014-2015/278 RPCD.RCB.BC.No.37/07.51.012/2014-15 October 29, 2014 All State / Central Cooperative Banks (StCBs/CCBs) Madam / Dear Sir, Risk Weights for calculation of CRAR Please refer to our circular RPCD.CO.RF.BC.40/07.38.03/2007-08 dated December 4, 2007 advising StCBs/CCBs to compute CRAR and disclose it as ‘Notes on Accounts’. Risk weights to be allotted to various items of assets were enclosed as annex I to the above mentioned circular. 2. In the light of t

RBI/2014-15/268 RPCD.CO.RRB.BC.No. 34 /03.05.33/2014-15 October 20, 2014 All Regional Rural Banks Dear Sir, Fourth Bi-monthly Monetary Policy Statement, 2014-15 – SLR Holdings under Held to Maturity Category Please refer to paragraph 25 of the Fourth Bi-monthly Monetary Policy Statement, 2014-15 extract enclosed announced on September 30, 2014. 2. In terms of our circular RPCD.CO.RRB.BC.No.25/03.05.33/2014-15 dated August 7, 2014 on ‘Monetary Policy Statement 2014-15

RBI/2014-15/223 RPCD.RRB.RCB.AML.BC.No.31/07.51.018/2014-15 September 9, 2014 Regional Rural Banks (RRBs) / State / Central Cooperative Banks (StCBs/CCBs) Madam / Dear Sir, Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT) / Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 – Client Due Diligence measures Please refer to paragraph 2 of our Master Circular RPCD.RRB.RCB.AML.BC.No.02

RBI/2014-15/220 RPCD.RRB.RCB.AML.No.2797/07.51.018/2014-15 September 9, 2014 Regional Rural Banks (RRBs) / State / Central Cooperative Banks (StCBs/CCBs) Madam / Dear Sir, Simplification of KYC Norms - Creating Public Awareness The Reserve Bank of India, in the recent times, has been taking several measures to simplify KYC requirements to help the common man open bank accounts. It is, however, observed that despite such measures the general public is still facing prob

RBI/2014-15/224 RPCD.CO.RCB.BC.28/07.51.010/2014-15 September 09, 2014 All State Co-operative Banks and Central Co-operative Banks Dear Sir/Madam, Need for Bank Branches / ATMs to be made accessible to persons with disabilities We have been receiving several suggestions from members of public through Government of India and otherwise, on facilitating easy access to bank branches and ATMs by persons with disabilities for undertaking day to day banking transactions. We

RBI/2014-15/168 RPCD.CO.RRB. BC.No.25/03.05.33/2014-15 August 7, 2014 All Regional Rural Banks Dear Sir, Monetary Policy Statement 2014-15 – SLR Holdings under Held to Maturity Category Please refer to paragraph 11 of the Third Bi-Monthly Monetary Policy Statement, 2014-15 (extract enclosed) announced on August 5, 2014 relating to banks’ total holdings of SLR securities in the held to maturity (HTM) category. 2. In terms of para 1.2 of our circular RPCD.CO.RRB.BC.No.

RBI/2014-15/165 RPCD.RRB.BC.No.24/03.05.33/2014-15 August 6, 2014 The Chairmen All Regional Rural Banks Dear Sir/Madam, Section 24 of the Banking Regulation Act, 1949 – Maintenance of Statutory Liquidity Ratio (SLR) Please refer to our circular RPCD.CO.RRB.BC.No.106/03.05.33/2013-14 dated June 4, 2014 on the captioned subject. 2. As announced in the Third Bi-monthly Monetary Policy Statement 2014-15 by Reserve Bank of India on August 5, 2014, it has been decided to re

RBI/2014-15/136 RPCD.RRB.RCB.AML.BC.No.14/07.51.018/2014-15 July 21, 2014 The Chairmen/Chief Executive Officers All Regional Rural Banks (RRBs)/ State / Central Cooperative Banks (StCBs/CCBs) Madam / Dear Sir, Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards / Combating of Financing of Terrorism (CFT) / Obligation of Banks under PMLA, 2002 – Amendment to Prevention of Money-Laundering (Maintenance of Records) Rules 2013 Government of India has no

RBI/2014-15/115 RPCD.RRB.RCB.AML.BC.No.12/07.51.018/2014-15 July 03, 2014 The Chairmen / Chief Executive Officers All Regional Rural Banks (RRBs) and State/Central Cooperative Banks (StCBs/CCBs) Madam/Dear Sir, Know Your Customer (KYC)/Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) Guidelines - Unique Customer Identification Code (UCIC) for banks’ customers in India Please refer to our circular RPCD.CO.RRB.RCB.AML.BC.No.82/03.05.33(E)/2011-12 da

RBI/2014-15/92 RPCD.RRB.RCB.AML.BC.No.02/07.51.018/2014-15 July 01, 2014 The Chairmen/Chief Executive Officers All Regional Rural Banks (RRBs)/ State / Central Cooperative Banks (StCBs/CCBs) Madam/Dear Sir, Master Circular – Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards / Combating of Financing of Terrorism (CFT) / Obligation of Banks under PMLA, 2002 Please find enclosed our Master Circular consolidating instructions/guidelines issued to Regi

RBI/2013-14/626 RPCD.CO.RRB.BC.No.106/03.05.33/2013-14 June 4, 2014 The Chairmen All Regional Rural Banks Dear Sir/Madam, Section 24 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR) Please refer to our circular RPCD.CO.RRB.BC.No.22/03.05.28(B)/2012-13 dated August 1,@@NBSP@@ 2012 on the captioned subject. 2. As announced in the Second Bi-monthly Monetary Policy statement 2014-15 by Reserve Bank of India on June 3, 2014, it has been

RBI/2013-14/608 RPCD.CO.RRB.BC.No.103/03.05.33/2013-14 May 27, 2014 The Chairmen Regional Rural Banks Dear Sir/Madam, Need for Bank Branches / ATMs to be made accessible to persons with disabilities Please refer to our circular RPCD.CO.RRB.BC.No.97/03.05.90-A/2008-09 dated April 21, 2009 on the captioned subject, wherein Regional Rural Banks (RRBs) were advised to provide, inter alia, ramps in all existing and future ATMs, and make at least one third of new ATMs insta

RBI/2013-14/570 RPCD.FID.BC.No. 96/12.01.011/ 20013-14 April 22, 2014 The Chairman/ Managing Director/ Chief Executive Officer All Scheduled Commercial Banks Dear Sir/Madam, Scaling up of the Business Correspondent (BC) Model – Issues in Cash Management Please refer to Para 26 (Part B) of Governor's bi-monthly policy statement dated April 1, 2014 on the above subject. 2. In this connection, we advise that, after opening of large number of banking outlets in the last t

RBI/2013-14/488 RPCD.CO.RRB.RCB.BC.NO.85/03.05.33/2013-14 February 11, 2014 All Regional Rural Banks/ State/Central @@NBSP@@Cooperative Banks Dear Sir/Madam, Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits Please refer to our circulars RPCD.CO.RRB.BC.No.65/03.05.33/2013-14 and RPCD.CO.RCB.BC.No.68/07.51.014/2013-14 dated December 2, 2013 advising Regional Rural Banks (RRBs) and State/Central Cooperative Banks (StCBs/CCBs) that the freedo

RBI/2013-14/475 RPCD.CO.RRB.RCB.BC. No. 82/03.05.33/2013-14 January 29, 2014 The Chairmen/Chief Executive Officers, All Regional Rural Banks / State and Central Co-operative Banks Dear Sir/Madam, Bank Rate Please refer to our circular RPCD.CO.RRB.RCB.BC.No.50/03.05.33/2013-14 dated October 30, 2013 on the captioned subject. 2. Consequent to the increase in the policy repo rate under the Liquidity Adjustment Facility (LAF) as announced in the Third Quarter Review of Mo

RBI/2013-14/466 RPCD.CO.RRB.RCB.BC. No.79/03.05.33/2013-14 January 28, 2014 The Chairmen/Chief Executive Officers, All Regional Rural Banks / State and Central Co-operative Banks Dear Sir/Madam, Legal Guardianship Certificates Issued under the Mental Health Act, 1987 and National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 Please refer to our Circular RPCD.CO.RRB.No.BC.38/03.05.33/2007-08 dated N

RBI/2013-14/458A RPCD.CO.RRB.BC.No.78/03.05.33/2013-14 January 22, 2014 The Chairmen All Regional Rural Banks Dear Sir/Madam, Ensuring Reasonableness of Bank Charges and Charges Levied for Sending SMS Alerts by Regional Rural Banks (RRBs) Please refer to paragraph 37 of the Second Quarter Review of Monetary Policy Statements 2013-14 announced on October 29, 2013 (extract enclosed) on ‘Customer Service – Charges Levied by Banks for sending SMS alerts’. Regional Rural B

RBI/2013-14/433 RPCD.RCB.BC.73/07.51.012/2013-14 January 7, 2014 The Chairman / Managing Director All State and Central Cooperative Banks Dear Sir / Madam, Application of Minimum Capital Adequacy Norms to State and Central Cooperative Banks (StCBs/CCBs) Please refer to the circular RPCD.CO.RF.BC.40/07.38.03/2007-08 dated December 4, 2007 wherein the State and Central Cooperative Banks had been advised to disclose the level of Capital to Risk weighted Assets Ratio (CRA

RBI/2013-14/434 RPCD.CO.RRB.BC.No. 74/03.05.33/2013-14 January 07, 2014 The Chairmen All Regional Rural Banks Dear Sir/Madam, Guidelines for Classification and Valuation of Investments Please refer to our circular RPCD.RRB.BC.No.59/03.05.34/2010-11 dated April 11, 2011, in terms of which RRBs were exempted from ‘Mark to Market’ (MTM) norms in respect of their entire investment in SLR securities, upto the financial year 2012-13. It has now been decided to withdraw the

RBI/2013-14/394 RPCD.RCB.BC.No. 68 /07.51.014/2013-14 December 02, 2013 All State and Central Co-operative Banks Dear Sir / Madam, Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits Please refer to our circular RPCD.CO.RCB.Dir.BC.No.26/07.51.014/2013-14 dated August 22, 2013 allowing State and Central Cooperative Banks the freedom to offer interest rates on incremental NRE deposits with maturity of 3 years and above without any ceiling in o

RBI/2013-14/392 RPCD.CO.RRB.BC.NO. 65 /03.05.33/2013-14 December 2, 2013 The Chairmen Regional Rural Banks Dear Sir/Madam, Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits Please refer to our circular RPCD.CO.RRB.BC.No.24/03.05.33/2013-14 dated August 19, 2013 allowing banks the freedom to offer interest rates on incremental NRE deposits with maturity of 3 years and above without any ceiling in order to pass on the benefit of exemption pr

RBI/2013-14/348 RPCD.CO.RRB.RCB.BC.No.50/03.05.33/2013-14 October 30, 2013 The Chairmen/Chief Executive Officers, All Regional Rural Banks / State and Central Co-operative Banks Dear Sir/Madam, Bank Rate Please refer to our circular RPCD.CO.RRB.RCB.BC.No.44/03.05.33/2013-14 dated October 8, 2013 on the captioned subject. 2. As announced in the Second Quarter Review of Monetary Policy 2013-14 dated October 29, 2013, the Bank Rate stands adjusted by 25 basis points from

RBI/2013-14/320 RPCD.CO.RCB.BC.No.43/07.51.013/2013-14 October 8, 2013 The Chairman All State and Central Co-operative Banks (StCBs and CCBs) Dear Sir, Housing Sector: Innovative Housing Loan Products – Upfront disbursal of housing loans It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, e.g. upfront disbursal of sanctioned individual housing loans to the builders without linking the di

RBI/2013-14/288 RPCD.CO.RRB.RCB.No.40/03.05.33/2013-14 September 20, 2013 All Scheduled State Cooperative Banks/ Regional Rural Banks Dear Sir, Section 42(1) of the Reserve Bank of India Act, 1934 – Change in Daily Minimum Cash Reserve Maintenance Requirement Please refer to our Circular RPCD.CO.RRB.No.16/03.05.33/2013-14 dated July 24, 2013 on the captioned subject. 2. As announced in the Press Release 2013-14/604 dated September 20, 2013, it has been decided to redu

RBI/2013-14/287 RPCD.CO.RRB.RCB.BC. No. 39/03.05.33/2013-14 September 20, 2013 The Chairmen/Chief Executive Officers, All Regional Rural Banks / State and Central Co-operative Banks Dear Sir/Madam, Bank Rate Please refer to our Circular RPCD.CO.RRB.RCB.No.13/03.05.33/2013-14 dated July 15, 2013 on the captioned subject. As announced in the Press Release 2013-2014/604 dated September 20, 2013, the Bank Rate stands adjusted by 75 basis points from 10.25 per cent to 9.50

RBI/2013-14/264 RPCD.RRB.RCB.AML.BC.No. 36/07.51.018/2013-14 September 17, 2013 The Chairmen / CEOs of Regional Rural Banks / State and Central Co-operative Banks Dear Sir / Madam, Financial Inclusion- Access to Banking Services – Basic Savings Bank Deposit Account (BSBDA) – FAQs Please refer to Circular RPCD.CO.RRB.RCB.BC.No.24/07.38.01/2012-13 dated August 22, 2012 on Basic Savings Bank Deposit Account (BSBDA) wherein banks have been advised to offer ‘Basic Savings

RBI/2013-14/248 RPCD.CO.RCB.BC.No. 30/07.51.014/2013-14 September 10, 2013 The Chairmen / CEOs All State and Central Cooperative Banks Dear Sir / Madam, Settlement of Claims of Deceased Depositor – Simplification of Procedure – Placing of claim forms on bank’s website Please refer to our circular RPCD.CO.RF.BC.No.12/07.38.01/2005-06 dated July 12, 2005 wherein simplified procedure has been specified for settlement of claims of deceased depositors. We have been receivi

RBI/2013-14/247 RPCD.RRB. BC. No. 29 /03.05.33/2013-14 September 11, 2013 All RRBs Dear Sir, Housing Sector: Innovative Housing Loan Products – Upfront disbursal of housing loans It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, e.g. upfront disbursal of sanctioned individual housing loans to the builders without linking the disbursals to various stages of construction of housing proje

RBI/2013-14/245 RPCD.CO.RRB.BC.No. 33/03.05.33 /2013-14 September 10, 2013 The Chairmen All Regional Rural Banks Dear Sir/Madam, Settlement of Claims of Deceased Depositor – Simplification of Procedure – Placing of claim forms on bank’s website Please refer to circular RPCD.CO.RRB.BC.22/03.05.33/2005-06 dated July 19, 2005 and wherein simplified procedure has been specified for settlement of claims of deceased depositors. We have been receiving feedback from public th

RBI/2013-14/197 RPCD.RCB.BC.No. 26 /07.51.014/2013-14 August 22, 2013 All State and Central Co-operative Banks Dear Sir / Madam, Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits Please refer to our circular RPCD.CO.RCB.Dir.BC.No.49/07.38.01/2011-12 dated December 28, 2011 on Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non- Resident (NRO) Accounts. 2. In terms of para 2 ibid, interest rates o

RBI/2013-14/194 RPCD.CO.RRB.BC.No.22 /03.05.33/2013-14 August 19, 2013 All Regional Rural Banks Dear Sir, Interest Rates on FCNR(B) Deposits Please refer to our circular RPCD.CO.RRB.No.76/03.05.33(C)/2011-12 dated May 8, 2012 on Interest Rates on Deposits held in FCNR(B) Accounts. In view of the prevailing market conditions, it has been decided that until further notice and with effect from the close of business in India as on August 14, 2013, the interest rate ceilin

RBI/2013-14/193 RPCD.CO.RRB. BC.No.24/03.05.33/2013-14 August 19, 2013 The Chairmen All Regional Rural Banks (RRBs) Dear Sir/Madam, Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits Please refer to our circular RPCD.CO.RRB.BC.No.45/03.05.33(C)/2011-12 dated December 19, 2011 on Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non- Resident (NRO) Accounts. 2. In terms of para 2 ibid, interest rates

RBI/2013-14/190 RPCD.CO.RRB/RCB.BC.No. 20 /03.05.33/2013-14 August 19, 2013 All Regional Rural Banks/ Scheduled State Cooperative Banks Dear Sir, Section 42(1) of the Reserve Bank of India Act, 1934 and Section 24 of the Banking Regulation Act, 1949 – FCNR(B)/NRE deposits – exemption from maintenance of CRR/SLR @@NBSP@@ At present, banks are required to include all Foreign Currency Non-Resident Bank [FCNR (B)] and Non-Resident (External) Rupee (NRE) deposit liabilitie

RBI/2013-14/175 RPCD.CO.RRB.BC.No.18/03.05.33/2013-14 August 7, 2013 The Chairman All Regional Rural Banks Dear Sir, Frontloading of branches in unbanked rural areas Please refer to paragraph 96 of Monetary Policy Statement 2013-14 (extract enclosed) on the above subject. As stated therein, branch expansion in rural areas is essential to address the existing asymmetries in achieving financial inclusion. 2. With the objective of increasing banking penetration and finan

RBI/2013-14/166 RPCD.RRB.BC.No.17/03.05.33/2013-14 July 31, 2013 All Regional Rural Banks Dear Sir/ Madam Recommendations of Damodaran Committee on Customer Service in Banks- Uniformity in Intersol Charges Please refer to announcement made in Monetary Policy Statement 2013-14 on May 3, 2013 on ‘Recommendations of Damodaran Committee- Uniformity in Intersol Charges’. 2. With the introduction of Core Banking Solution (CBS), it is expected that customers of RRBs would be