Citizens Charter - ਆਰਬੀਆਈ - Reserve Bank of India
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Citizens' Charter
| Sl. No. | Service | Timeline (days)i |
Submission Mode |
| Currency Chests | |||
| 1 | Application for new Currency Chest facility for banks not having Memorandum of Agreement (MoA) with RBI | 30 | PRAVAAH |
| 2 | Closure of Currency Chests | 30 | PRAVAAH |
| 3 | Opening of Currency Chests – In-principle approval | 30 | PRAVAAH |
| 4 | Opening of Currency Chests – Final approval | 30 | PRAVAAH |
| 5 | Shifting or Expansion of Currency Chests – In-principle approval | 30 | PRAVAAH |
| 6 | Shifting or Expansion of Currency Chests – Final approval | 30 | PRAVAAH |
| Notes | |||
| 7 | Exchange of Notes received through postal covers | 7 | Offline ^ |
| 8 | Exchange of Notes received under Triple Lock Receptacles (TLRs) | 7 | Over The Counter* |
| 9 | Exchange of Notes that cannot withstand normal handling | 30 | Offline ^ |
| Sl. No. | Service | Timeline (days)i |
Submission Mode |
| Challans | |||
| 10 | Delivery of receipted challans tendered with cash | 20 minutes | Over The Counter |
| 11 | Delivery of receipted challans tendered with cheques issued by Government departments maintaining accounts with RBI | 20 minutes | Over The Counter |
| 12 | Delivery of receipted challans tendered with cheques drawn on other banks | 3 | Over The Counter |
| Financial instruments | |||
| 13 | Issue of cheque books | 20 minutes | Over The Counter |
| 14 | Issue of demand drafts | 60 minutes | Over The Counter |
| Funds transfer and cash transactions | |||
| 15 | Cash withdrawal by Government departments through cheques | 20 minutes | Over The Counter |
| 16 | Deposit of cash by bank maintaining current account with RBI | 15 minutes | Over The Counter |
| 17 | Transfer of funds (from one bank's current account to another bank's current account in RBI) | 15 minutes | Over The Counter |
| 18 | Withdrawal of cash by bank maintaining current account with RBI | 20 minutes | Over The Counter |
| Refinance facility | |||
| 19 | Refinance facility and disbursement of loans | 3 hours | Over The Counter |
| Special Deposit Scheme 1975 - Account Transfer | |||
| 20 | Applications from SBI GAD for transfer of Special Deposit Scheme 1975 accounts from other agency banks to SBI SSB, Mumbai branch | 10 | PRAVAAH |
| Sl. No. | Service | Timeline (days)i |
Submission Mode |
| 21 | Approval for commencement of eligible activity under guidelines on regulation of Payment Aggregator- Cross Border (PA- Cross Border) | 30 | PRAVAAH |
| 22 | General Purpose Application - Payment and Settlement Systems | 30 | PRAVAAH |
| 23 | Issue of Certificate of Authorisation (CoA) - After receipt of System Audit Report (SAR) (In case there are subsequent changes after receipt of SAR viz., change in promoters / directors, fresh investments etc., the timeline is 60 days) | 30 | PRAVAAH |
| 24 | Renewal of CoA | 30 | PRAVAAH |
| 25 | Voluntary surrender of CoA by Payment System Operators (PSOs) | 30 | PRAVAAH |
| 26 | Approval in case of takeover / acquisition of control of non-bank PSOs (timeline is not applicable for application received from overseas Principal under MTSS) |
45 | PRAVAAH |
| 27 | Application for Membership to Centralised Payment Systems | 60 | PRAVAAH |
| 28 | Authorisation to set up a payment system under PSS Act, 2007 - In-principle Authorisation (timeline is not applicable when a new category of payment system is introduced) | 90 | PRAVAAH |
Commercial Banks
| Sr. No. | Description of Regulatory Approval | Time required |
|---|---|---|
| 1. | Private Bank Licence- In principle approval | 90 days@ |
| 2. | Approval to banks for acquisition/transfer of shares of five per cent or more of paid up equity share capital of the bank | 90 days |
| 3. | Approval to banks for holding non-banking assets beyond 7 and up to 12 years, in terms of Section 9 of Banking Regulation Act, 1949 | 30 days |
| 4. | Approval to banks for redemption / exercise of call option / coupon payment on capital instruments | 15 days |
| 5. | Approval to banks for establishing a subsidiary/joint venture/associate or investments in financial and non-financial services companies requiring prior approval of RBI. | 90 days |
| 6. | Approval to banks for undertaking various financial services departmentally or expansion of the scope of activities of the group entities of banks (subsidiaries/JVs). | 45 days |
| 7. | Appointment / re-appointment of whole time directors (MD & CEO / EDs/ Jt. MDs) and Part-time Chairmen (non-whole time directors) in Private Sector Banks, including SFBs, PBs and LABs | 90 days |
| 8. | Appointment/re-appointment of CEOs of Foreign Banks and whole time directors (MD & CEO / EDs) and Part-time Chairmen (non-whole time directors) of Wholly Owned Subsidiaries (WOS) of Foreign Banks operating in India | 90 days |
| 9. | Remuneration, Bonus and Employee Stock Option (ESOP) of whole time directors (MD & CEO / EDs/ Jt. MDs ) and Part-time Chairmen (non-whole time directors) of Private Sector Banks, including SFBs, PBs and LABs | 90 days |
| 10. | Remuneration, Bonus and Employee Stock Option of CEOs of Foreign Banks and whole time directors (MD & CEO / EDs) and Part-time Chairmen (non-whole time directors) of Wholly Owned Subsidiaries (WOS) Wholly Owned Subsidiaries (WOS) operating in India | 90 days |
| 11. | Clearances for appointment of whole time directors, non-executive chairmen and non-official directors of public sector banks | 60 days |
| 12. | Approval of Annual Banking Outlet Expansion Plan (ABOEP) in respect of Domestic Scheduled Commercial Banks (excluding RRBs) for which the general permission has been withdrawn and for Payment Banks and Local Area Banks | 45 days |
| 13. | Authorization to banks for importing gold/silver under Foreign Trade Policy | 60 days |
| 14. | Authorization for opening of banking outlets under approved ABOEP | 30 days |
| 15. | Processing of applications of banks to set up an IBU at GIFT City* | 90 days |
| @The timeline for issue of in-principle approval for private sector bank licences commences from receipt of report from the Independent External Advisory Committee. | ||
Regional Rural Bank
| 16. | Inclusion in/Exclusion from Second Schedule of RBI Act | 45 days |
| 17. | Permission for opening of Banking Outlets/ issue of licence for Banking outlets/ service branches/ Regional Offices | 45 days |
| 18. | Permission for shifting of Banking Outlets outside the Revenue Centre | 45 days |
| 19. | Appropriation from the Reserve Fund under Section 17(2) of the BR Act, 1949 | 45 days |
| 20. | Permission to extend internet banking facility to customers | 30 days |
| 21. | Permission to extend mobile banking to customers | 30 days |
| 22. | Approval to banks for undertaking various financial services departmentally. | 90 days |
NBFCs
| Sr. No. | Description of Regulatory Approval | Time required |
|---|---|---|
| SRO | ||
| 1. | Recognition to Self-Regulatory Organisation (SRO) | 45 days |
| Non-Banking Finance Companies(NBFCs) | ||
| 2. | Issue of Certificate of Registration (other than Securitization and Reconstruction Companies) | 45 days |
| 3. | NOC to sponsor Infrastructure Debt Fund by NBFC | 30 days |
| 4. | Change of control/ownership/management of an NBFC | 30 days |
| 5. | Conversion of existing NBFCs to other categories such as Core Investment Companies-Non Deposit taking-Systemically Important (CIC-ND-SI) , NBFC-Micro Finance Institutions (NBFC-MFIs), NBFC-Infrastructure Finance Companies (IFCs) and NBFC-Factors | 30 days |
| 6. | Declaration of dividend– (In case there are special reasons or difficulties for any PD in strictly adhering to the guidelines relating to Dividend, it may approach RBI in advance for an appropriate ad hoc dispensation in this regard) | 45 days |
| 7. | Approval to NBFCs for establishing a subsidiary/joint venture/associate or investments in financial and non-financial services companies requiring prior approval of RBI. | 90 days |
| 8. | Approval to NBFCs for undertaking various financial services departmentally or expansion of the scope of activities of the group entities (subsidiaries/JVs) wherever approval is required. | 90 days |
| Non-Banking Finance Companies(NBFCs)- Housing Finance Companies | ||
| 9. | Approval for acquisition/ transfer of ten per cent or more of the paid-up equity capital of the HFC (accepting/ holding public deposits) by/ to a foreign investor | 90 days |
| 10. | Approval for acquisition/ transfer of twenty-six per cent or more of the paid-up equity capital of the HFC. | 90 days |
| 11. | Approval to HFCs for establishing a subsidiary/joint venture/associate or investments in financial and non-financial services companies requiring prior approval of RBI. | 90 days |
| 12. | Approval to HFCs for undertaking various financial services departmentally or expansion of the scope of activities of the group entities (subsidiaries/JVs) wherever approval is required. | 90 days |
| 13. | Prior approval of the Reserve Bank for any change in the management of the HFC which would result in change in more than 30 per cent of the directors, excluding independent directors. | 90 days |
ARCs
| Sr. No. | Description of Regulatory Approval | Time required |
|---|---|---|
| Asset Reconstruction Companies(ARCs) | ||
| 1. | Approval for change of sponsor in ARC | 90 days |
| 2. | Prior approval of the Reserve Bank for any substantial change in the management of the ARC including appointment of any director on the board of directors of the ARC or managing director or chief executive officer thereof. | 90 days |
Cooperative Banks
A. Approvals/Permissions given by Central Office for Primary Urban Cooperative Banks
| Sr. No. | Description of Regulatory Approval | Time required |
|---|---|---|
| 1. Approvals/Permissions given by Central Office for UCBs | ||
| 1. | Extension of Area of Operation i) beyond adjoining districts and to the entire State of registration ii) beyond the State of registration iii) for multi-state UCBs |
90 days |
| 2. | Shifting of branches – Request from UCBs not conforming to the FSWM (Financially Sound and Well Managed) criteria for shifting of their offices/branches outside the centre/State | 90 days |
| 3. | Shifting of branches of UCBs outside the State of registration | 90 days |
| 4. | Permission to undertake intra-day short selling of G-Secs | 90 days |
| 5. | Permission to extend unsecured advances up to 25% of total assets subject to conditions prescribed in our circular dated April 3, 2010 | 90 days |
| 6. | Remission of Debt of Director related loans | 90 days |
| 7. | Grant of permission for raising Long Term (Subordinated) Deposits (LTD)/ Perpetual Non-Cumulative Preference Shares (PNCPS)/ Conversion of deposits to equity | 90 days |
| 8. | Approval for appointment/renewal of appointment of CEO of scheduled UCBs with deposit size of Rs. 100 crore and above | 90 days |
| 2. Approvals/Permissions given by Regional Offices for UCBs | ||
| 9. | Shifting of offices to different wards/municipal areas | 45 days |
| 10. | Extension of time for submission of Form – V (Furnishing of details of Branches opened) | 90 days |
| 11. | Change of address to same municipal ward, post issue of authorization but before opening of branch | 90 days |
| 12. | Authorisation for opening of branches under Annual Business Plan and new off-site ATMs | 90 days |
| 13. | Approval for opening of specialized branches by UCBs | 90 days |
| 14. | Permission to extend internet banking facility to customers | 90 days |
| 15. | Permission for payment of dividend | 90 days |
| 16. | Change in name of bank | 90 days |
| 17. | Authorization to maintain/renew NRE accounts | 90 days |
| 18. | Approval for appointment/renewal of appointment of CEO of non-scheduled UCBs with deposit size of less than Rs.100 crore | 90 days |
| 3. Other applications received by the Department for recommendations but approvals/permissions granted by other Departments /Organisations for UCBs | ||
| 19. | Approvals related to Centralised Payment System | 45 days |
| 20. | MTSS | 45 days |
| 21. | AD-I and AD-II category licences | 45 days |
| 22. | Opening of current account/SGL account | 45 days |
| 23. | Clearing House memberships | 45 days |
| 24. | NDS-OM Membership | 45 days |
| 25. | Permission to extend mobile banking to customers | 45 days |
| 26. | Banker to Issue | 45 days |
| 27. | Merchant Banking | 45 days |
B. Regulatory Approvals for State and Central Cooperative Banks
1. Regulatory approvals granted without involving other departments/agencie
| Sr. No. | Description of Regulatory Approval | Time required |
|---|---|---|
| State and Central Co-op. Banks | ||
| 1. | Grant of loan/advance against the security of NRE deposits to a resident individual/ firm/ company in India | 30 Days |
| 2. | Disposal of non-banking assets - Approval given by Regional Offices | 30 Days |
| 3. | Investment in shares of other Co-operative Societies situated outside the area of the co-operative bank | 30 Days |
2. Regulatory approvals involving inter-office/inter-agency
| Sr. No. | Description of Regulatory Approval | Time required |
|---|---|---|
| State and Central Co-op. Banks | ||
| 1. | Grant of banking licence- Approval given by Central Office. | 30 Days |
| 2. | Permission to make investments in non-PSU bonds where prescribed criteria are not met | 30 Days |
| 3. | Permission to issue Innovative Perpetual Debt Instruments | 30 Days |
| 4. | Approval to banks for undertaking various financial services departmentally. | 90 Days |
| State Co-op. Banks | ||
| 5. | Permission to State Co-op. Banks for grant of branch licence | 30 Days |
| 6. | Permission to open extension counters | 30 Days |
| 7. | Permission for opening specialized branches for conducting forex business, etc., and for up-gradation of existing extension counters into full-fledged branches | 30 Days |
| 8. | Permission for shifting of a bank branch to a different locality/municipal ward other than the one mentioned in the licence. Approval given by Regional Offices | 30 Days |
| 9. | Inclusion in the 2nd Schedule to RBI Act, 1934. Approval given by Central Office. | 30 Days |
| Sl. No. | Service | Timeline (days)i |
Submission Mode |
| Approval for Appointment of Statutory Auditors in Banks and Financial Institutions | |||
| Co-operative banks | |||
| 140 | Statutory auditors | 30 | Through AAS |
| Overseas branches of Indian banks | |||
| 141 | Statutory auditors | 30 | Through AAS |
| Private sector banks / Foreign banks | |||
| 142 | Statutory central auditors | 30 | Through AAS |
| 143 | Statutory branch auditors | 30 | Through AAS |
| Public sector banks | |||
| 144 | Statutory central auditors | 15 | Through AAS |
| Select financial institutions | |||
| 145 | Statutory auditors | 21 | Through AAS |
| Sl. No. | Service | Timeline (days)i |
Submission Mode |
| Financial benchmark administrator | |||
| 147 | Authorisation to Financial Benchmark Administrator to administer non-significant benchmark | 30 | PRAVAAH |
| 148 | Authorisation to Financial Benchmark Administrator to administer significant benchmark | 30 | PRAVAAH |
| Market Infrastructure Institutions | |||
| 149 | Authorisation to operate an Electronic Trading Platform | 45 | PRAVAAH |
| Membership management in RBI Market Platform | |||
| 150 | NDS-Call (grant of new membership, termination of membership and change of name of existing members) | 7 | PRAVAAH |
| 151 | NDS-OM (grant of new membership, termination of membership and change of name of existing members) | 30 | PRAVAAH |
| Approval to Exchanges | |||
| 152 | Approval for introducing instruments / products regulated by RBI under Chapter III D of the RBI Act, 1934, on recognised exchanges | 45 | PRAVAAH |
| Sl. No. | Service | Timeline (days)i |
Submission Mode |
| Authorised Dealer (AD) / Money Transfer Service Scheme (MTSS) / Rupee Drawing Arrangement (RDA) | |||
| 155 | Issue of AD Cat-I license | 30 | PRAVAAH |
| 156 | Issue and Renewal of AD Cat-III license | 30 | PRAVAAH |
| 157 | Issue of first permission to undertake Rupee Drawing Arrangement (RDA) scheme | 30 | PRAVAAH |
| 158 | Issue and Renewal of license to conduct MTSS business | 30 | PRAVAAH |
| 159 | Issue and Renewal of Money Changer's license | 40 | PRAVAAH |
| 160 | Issue and Renewal of AD Cat-II license | 40 | PRAVAAH |
| Compounding | |||
| 161 | Compounding of contraventions of FEMA, 1999 | 180 | PRAVAAH |
| Exports | |||
| 162 | Export receivables / payables outside ACU mechanism | 10 | PRAVAAH |
| 163 | Permission for waiving GR Form formalities for exports | 10 | PRAVAAH |
| 164 | Refund / Retention of advance | 10 | PRAVAAH |
| 165 | Resolution of IDPMS / EDPMS issues | 10 | PRAVAAH |
| 166 | Set-Off / Write-Off | 10 | PRAVAAH |
| External Commercial Borrowing (ECB) / Foreign Currency Convertible Bonds (FCCB) | |||
| 167 | Trade credit under approval route | 7 | PRAVAAH |
| 168 | Approval for deviation from the extant framework for ECBs already availed under automatic route | 15 | PRAVAAH |
| 169 | ECB – Under approval route | 40 | PRAVAAH |
| 170 | Approval to undertake borrowing or lending transaction under FEMA-Reg. 3 of FEMA 3R | 40 | PRAVAAH |
| 171 | Approval to undertake guarantee transaction under FEMA-Reg. 3 of FEMA 8 | 40 | PRAVAAH |
| Foreign Currency Accounts | |||
| 172 | To open foreign currency account in India | 7 | PRAVAAH |
| 173 | To open foreign currency account outside India | 7 | PRAVAAH |
| 174 | To receive salary outside India in foreign currency account | 7 | PRAVAAH |
| 175 | To open Non-Resident Ordinary (NRO) account | 30 | PRAVAAH |
| Foreign Investment | |||
| 176 | References relating to reporting received from AD branches / individuals / companies | 15 | PRAVAAH |
| 177 | Foreign Direct Investment (FDI): References / clarifications / approvals sought under extant FDI Rules / Regulations (should be invariably routed through AD banks) | 30 | PRAVAAH |
| General Purpose | |||
| 178 | General References related to acquisition, sale, etc. of immovable properties, External Payments, Trade, EDPMS, IDPMS, Overseas Investment, Authorised Persons, Liaison Office / Branch Office / Project Office, Foreign Investment under NDI Rules, Non-Resident Foreign Currency Accounts, Borrowing / Lending under FEMA 3R, Guarantees | 10 | PRAVAAH |
| Imports | |||
| 179 | Direct imports | 10 | PRAVAAH |
| 180 | Import receivables / payables outside Asian Clearing Union (ACU) mechanism | 10 | PRAVAAH |
| 181 | Third-country / Merchanting trade / Warehousing | 10 | PRAVAAH |
| Indian Investment Abroad | |||
| 182 | Disinvestment of shares in Overseas Joint Ventures / Subsidiaries - under approval route | 30 | PRAVAAH |
| 183 | Investment in Overseas Joint Ventures and Wholly Owned Subsidiaries (not covered by automatic route) | 30 | PRAVAAH |
| 184 | Other Overseas Investment - under approval route | 30 | PRAVAAH |
| Liaison Office (LO) / Branch Office (BO) / Project Office (PO) | |||
| 185 | Permission for establishment of new LO / BO / PO in India under Approval Route | 30 | PRAVAAH |
| 186 | Approval for establishing additional LO / BO in India | 30 | PRAVAAH |
| Miscellaneous External Payments | |||
| 187 | Approvals given for proposals regarding miscellaneous external payments of permissible Current and Capital Account transactions | 40 | PRAVAAH |
| Overseas Insurance | |||
| 188 | Approvals to take insurance policies from insurance companies in foreign countries | 10 | PRAVAAH |
| Transfer / Acquisition of Immovable Property | |||
| 189 | For transfer / acquisition of immovable property under approval route in consultation with Government of India. | 30 | PRAVAAH |
| 190 | Permission for acquisition / transfer of immovable property not covered under general permission in terms of Foreign Exchange Management Act (FEMA), 1999 or the rules / regulations made thereunder. | 30 | PRAVAAH |
| Sl. No. | Service | Timeline (days)i |
Submission Mode |
| Regulatory Approvals | |||
| 191 | Surrender of Primary Dealer (PD) license | 30 | PRAVAAH |
| 192 | Application for empanelment as a Receiving Office for Floating Rate Savings Bonds (FRSB), 2020 | 45 | PRAVAAH |
| 193 | License for Primary Dealer (PD) business | 60 | PRAVAAH |
| Service Requests by Subsidiary General Ledger (SGL) / Constituent Subsidiary General Ledger (CSGL) account holders | |||
| 194 | Closing of SGL / CSGL Account | 3 | PRAVAAH |
| 195 | Modification of Designated Settlement Bank details linked to SGL account | 3 | PRAVAAH |
| 196 | Registration / Revocation / Invocation of Pledge, Lien, etc. | 3 | Through e-Kuber |
| 197 | Opening of SGL Account by eligible entities in terms of extant SGL guidelines | 15 | PRAVAAH |
| 198 | Opening of CSGL Account by eligible entities in terms of extant CSGL guidelines | 15 | PRAVAAH |
| Service Requests by Receiving Offices# | |||
| 199 | Registration / Revocation / Invocation of Pledge / Lien for Sovereign Gold Bonds (SGBs) | 3 | Through e-Kuber |
| 200 | Rematerialisation of SGBs | 3 | Through e-Kuber |
| 201 | Dematerialisation of SGBs | 20$ | Through e-Kuber |
| 202 | SGB – Submission of claims for payment of interest beyond limitation period | 45 | PRAVAAH |
| 203 | Relief Bonds / Savings Bonds - Submission of claims for payment of interest beyond limitation period | 45 | PRAVAAH |
ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਮੋਬਾਈਲ ਐਪਲੀਕੇਸ਼ਨ ਇੰਸਟਾਲ ਕਰੋ ਅਤੇ ਨਵੀਨਤਮ ਖਬਰਾਂ ਤੱਕ ਤੇਜ਼ ਐਕਸੈਸ ਪ੍ਰਾਪਤ ਕਰੋ!
