Regulating Commercial Banking

Collection and Dissemination of Information on
cases of Wilful Default of Rs.25 lakhs and above

DBOD.No.BC.DL.(W)12/20.16.002(1)98-99February 20, 1999Phalguna 01, 1920 (S)All Scheduled Commercial BanksAll notified All India Financial Institutions viz. IDBI, ICICI and IFCIDear Sirs,Collection and Dissemination of Information oncases of Wilful Default of Rs.25 lakhs and abovePursuant to the instructions of the Central Vigilance Commission for collection of information on wilful defaults of Rs.25 lakhs and above by RBI and dissemination to the reporting banks and F

DBOD.No.BC.DL.(W)12/20.16.002(1)98-99February 20, 1999Phalguna 01, 1920 (S)All Scheduled Commercial BanksAll notified All India Financial Institutions viz. IDBI, ICICI and IFCIDear Sirs,Collection and Dissemination of Information oncases of Wilful Default of Rs.25 lakhs and abovePursuant to the instructions of the Central Vigilance Commission for collection of information on wilful defaults of Rs.25 lakhs and above by RBI and dissemination to the reporting banks and F

Collection and Dissemination of Information on cases of Wilful Default of Rs.25 lakhs and above

Asset - Liability Management ( ALM ) System

DBOD BP.BC. 8/21.04.098/99February 10, 1999ToAll Scheduled Commercial Banks(excluding RRBs)Dear Sir, Asset - Liability Management ( ALM ) System Please refer to our circular DBOD No. BP. BC. 94/ 21. 04. 098/ 98 dated September 10, 1998 forwarding therewith draft Guidelines for putting in place Asset-Liability Management (ALM) System in banks. The draft Guidelines have been reviewed by us in the light of the issues raised/suggestions made by banks in the seminars held

DBOD BP.BC. 8/21.04.098/99February 10, 1999ToAll Scheduled Commercial Banks(excluding RRBs)Dear Sir, Asset - Liability Management ( ALM ) System Please refer to our circular DBOD No. BP. BC. 94/ 21. 04. 098/ 98 dated September 10, 1998 forwarding therewith draft Guidelines for putting in place Asset-Liability Management (ALM) System in banks. The draft Guidelines have been reviewed by us in the light of the issues raised/suggestions made by banks in the seminars held

Asset - Liability Management ( ALM ) System

Interest Rates on Deposits

RPCD.No.DIR.BC.110/07.38.01/96-97 March 5, 1997 All State/Central Co-operative Banks Dear Sir, Interest Rates on Deposits It has been brought to our notice that some banks, while soliciting deposits from the public, have resorted to highlighting only the compounded yield on term deposits without indicating the actual rate of simple interest offered by the bank for the particular period of the deposits. As this is likely to mislead the customers, the banks should in an

RPCD.No.DIR.BC.110/07.38.01/96-97 March 5, 1997 All State/Central Co-operative Banks Dear Sir, Interest Rates on Deposits It has been brought to our notice that some banks, while soliciting deposits from the public, have resorted to highlighting only the compounded yield on term deposits without indicating the actual rate of simple interest offered by the bank for the particular period of the deposits. As this is likely to mislead the customers, the banks should in an

Interest Rates on Deposits

Public Sector Banks - Audit Committee of Board of Directors (ACB)

DOS.No.BC.3/08.91.020/96 January 20, 1997  The Chief Executives, All Indian Commercial banks (other than SBI associates) Dear Sir, Public Sector Banks - Audit Committee of Board of Directors (ACB)

Please refer to our circular DOS.BC.14/Adm.919/16.13.100/95dated September 26, 1995 on the captioned subject. Some banks have raised certain issues relating to the constitution of ACB, rotation of non-official directors etc. Our clarifications in this regard are asunder :

DOS.No.BC.3/08.91.020/96 January 20, 1997  The Chief Executives, All Indian Commercial banks (other than SBI associates) Dear Sir, Public Sector Banks - Audit Committee of Board of Directors (ACB)

Please refer to our circular DOS.BC.14/Adm.919/16.13.100/95dated September 26, 1995 on the captioned subject. Some banks have raised certain issues relating to the constitution of ACB, rotation of non-official directors etc. Our clarifications in this regard are asunder :

Public Sector Banks - Audit Committee of Board of Directors (ACB)

Committee on Customer Service in Banks - Implementation of Recommendations of the Goiporia Committee

RPCD.No.BC.126/07.38.01/93-94 April 6, 1994 All State Co-operative Banks Central Co-operative Banks Dear Sir, Committee on Customer Service in Banks - Implementation of Recommendations of the Goiporia Committee Please refer to our circular RPCD.No.111/07.38.01/92-93 dated 12th May 1993 in terms of which we have advised banks to implement certain recommendations of the Goiporia Committee on Customer Service in Banks and submit a progress report to our concerned Regiona

RPCD.No.BC.126/07.38.01/93-94 April 6, 1994 All State Co-operative Banks Central Co-operative Banks Dear Sir, Committee on Customer Service in Banks - Implementation of Recommendations of the Goiporia Committee Please refer to our circular RPCD.No.111/07.38.01/92-93 dated 12th May 1993 in terms of which we have advised banks to implement certain recommendations of the Goiporia Committee on Customer Service in Banks and submit a progress report to our concerned Regiona

Committee on Customer Service in Banks - Implementation of Recommendations of the Goiporia Committee

Delay in Crediting the Proceeds of Outstanding Instruments - Rate of interest

RPCD.No.BC.35/07.38.01/93-94 September 10, 1993 All State Co-operative Banks/ Central Co-operative Banks Dear Sir, Delay in Crediting the Proceeds of Outstanding Instruments - Rate of interest Please refer to our circular RPCD.No.BC.110/07.38.01/92-93 dated 11 May 1993, wherein we had advised the banks to pay interest at 2 per cent above the savings bank rate in case of delayed collection of instruments like cheques/drafts (bills etc., beyond, the stipulated period. I

RPCD.No.BC.35/07.38.01/93-94 September 10, 1993 All State Co-operative Banks/ Central Co-operative Banks Dear Sir, Delay in Crediting the Proceeds of Outstanding Instruments - Rate of interest Please refer to our circular RPCD.No.BC.110/07.38.01/92-93 dated 11 May 1993, wherein we had advised the banks to pay interest at 2 per cent above the savings bank rate in case of delayed collection of instruments like cheques/drafts (bills etc., beyond, the stipulated period. I

Delay in Crediting the Proceeds of Outstanding Instruments - Rate of interest

Customer Service

RPCD.No.DC.111/07.38.01-92/93 May 12, 1993 All State/Central Co-operative Banks Dear Sir, Customer Service Please refer to our circular RPCD.No.BC.110/07.38.01-92/93 dated 11 May 1993 in terms of which we have advised you to implement some of the recommendations made by the Committee set up by RBI under the Chairmanship of Shri M. N. Goiporia. 2. The RBI have carefully examined the various other recommendations of the Committee and it has been decided that State/Centr

RPCD.No.DC.111/07.38.01-92/93 May 12, 1993 All State/Central Co-operative Banks Dear Sir, Customer Service Please refer to our circular RPCD.No.BC.110/07.38.01-92/93 dated 11 May 1993 in terms of which we have advised you to implement some of the recommendations made by the Committee set up by RBI under the Chairmanship of Shri M. N. Goiporia. 2. The RBI have carefully examined the various other recommendations of the Committee and it has been decided that State/Centr

Customer Service

Opening of Bank Accounts in the Names of Minors with Mothers as Guardians

DBOD.No.Leg.BC.19/C.90(H)-89 September 8, 1989 The Chairmen & Managing Directors of all Commercial Banks Opening of Bank Accounts in the Names of Minors with Mothers as Guardians Please refer to our circular DBOD.No.Leg.BC.158/C.90(H)-76 dated 29 December, 1976, inter alia, advising banks to allow opening of minors’ accounts (fixed and savings only) with mothers as guardians. We have now examined a request to extend the facility of allowing opening of minors' acco

DBOD.No.Leg.BC.19/C.90(H)-89 September 8, 1989 The Chairmen & Managing Directors of all Commercial Banks Opening of Bank Accounts in the Names of Minors with Mothers as Guardians Please refer to our circular DBOD.No.Leg.BC.158/C.90(H)-76 dated 29 December, 1976, inter alia, advising banks to allow opening of minors’ accounts (fixed and savings only) with mothers as guardians. We have now examined a request to extend the facility of allowing opening of minors' acco

Opening of Bank Accounts in the Names of Minors with Mothers as Guardians