Draft Notifications - ਆਰਬੀਆਈ - Reserve Bank of India
Draft Notifications
ਮਾਰਚ 01, 2018
Repurchase transactions (Repo) (Reserve Bank) Directions, 2018- Draft
RESERVE BANK OF INDIA FINANCIAL MARKETS REGULATION DEPARTMENT 1ST FLOOR, CENTRAL OFFICE, FORT MUMBAI 400 001 FMRD.DIRD./CGM (TRS)-2018 dated March 1, 2018 Repurchase transactions (Repo) (Reserve Bank) Directions, 2018- Draft The Reserve Bank of India having considered it necessary in public interest and to regulate the financial system of the country to its advantage, in exercise of the powers conferred under section 45W of the Reserve Bank of India Act, 1934 (RBI Act
RESERVE BANK OF INDIA FINANCIAL MARKETS REGULATION DEPARTMENT 1ST FLOOR, CENTRAL OFFICE, FORT MUMBAI 400 001 FMRD.DIRD./CGM (TRS)-2018 dated March 1, 2018 Repurchase transactions (Repo) (Reserve Bank) Directions, 2018- Draft The Reserve Bank of India having considered it necessary in public interest and to regulate the financial system of the country to its advantage, in exercise of the powers conferred under section 45W of the Reserve Bank of India Act, 1934 (RBI Act
ਜਨ 12, 2018
Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions
RESERVE BANK OF INDIA FINANCIAL MARKETS REGULATION DEPARTMENT 1st FLOOR, CENTRAL OFFICE, FORT MUMBAI 400 001 FMRD.FMD. --- /CGM (TRS) - 2018 dated January __, 2018 Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, __ The Reserve Bank of India having considered it necessary in public interest, in exercise of the powers conferred by clause (h) of sub-section (2) of section 47 of the Foreign Exchange Management Act (FEMA), 19
RESERVE BANK OF INDIA FINANCIAL MARKETS REGULATION DEPARTMENT 1st FLOOR, CENTRAL OFFICE, FORT MUMBAI 400 001 FMRD.FMD. --- /CGM (TRS) - 2018 dated January __, 2018 Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, __ The Reserve Bank of India having considered it necessary in public interest, in exercise of the powers conferred by clause (h) of sub-section (2) of section 47 of the Foreign Exchange Management Act (FEMA), 19
ਅਕਤੂ 12, 2017
Electronic Trading Platform (ETP) Directions, 2017– Draft Directions
These directions are called ‘The Electronic Trading Platform (ETP) Directions, 2017’ and are issued in exercise of the powers conferred under section 45W of the RBI Act, 1934. 2. No entity shall operate an ETP to trade any instrument covered under Section 45 (W) of the RBI Act, 1934 without prior authorisation of the Reserve Bank under these directions. Existing electronic trading platforms would also be required to obtain authorisation under these directions, within
These directions are called ‘The Electronic Trading Platform (ETP) Directions, 2017’ and are issued in exercise of the powers conferred under section 45W of the RBI Act, 1934. 2. No entity shall operate an ETP to trade any instrument covered under Section 45 (W) of the RBI Act, 1934 without prior authorisation of the Reserve Bank under these directions. Existing electronic trading platforms would also be required to obtain authorisation under these directions, within
ਅਪ੍ਰੈ 26, 2017
Foreign Exchange Management (Cross Border Merger) Regulations, 2017
Draft Regulations Notification No. FEMA. _____ /2017-RB Dated: April__, 2017 Foreign Exchange Management (Cross Border Merger) Regulations, 2017 In exercise of the powers conferred by section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank makes the following regulations relating to merger, demerger, amalgamation and arrangement between Indian companies and foreign companies: 1. Short title and commencement These regulations may be calle
Draft Regulations Notification No. FEMA. _____ /2017-RB Dated: April__, 2017 Foreign Exchange Management (Cross Border Merger) Regulations, 2017 In exercise of the powers conferred by section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank makes the following regulations relating to merger, demerger, amalgamation and arrangement between Indian companies and foreign companies: 1. Short title and commencement These regulations may be calle
ਅਪ੍ਰੈ 12, 2017
Simplified Hedging Facility- Draft Guidelines
Participants: Resident entities with foreign currency exposures and non-resident entities with Rupee exposures, other than individuals, arising out of transactions permitted under Foreign Exchange Management Act, 1999, of up to USD 30 million or equivalent. Purpose: To hedge underlying exchange rate risk. Products: Any Over the Counter (OTC) derivatives and Exchange Traded Currency Derivatives (ETCD) permitted under FEMA, 1999, except cost reduction structures and swa
Participants: Resident entities with foreign currency exposures and non-resident entities with Rupee exposures, other than individuals, arising out of transactions permitted under Foreign Exchange Management Act, 1999, of up to USD 30 million or equivalent. Purpose: To hedge underlying exchange rate risk. Products: Any Over the Counter (OTC) derivatives and Exchange Traded Currency Derivatives (ETCD) permitted under FEMA, 1999, except cost reduction structures and swa
ਅਪ੍ਰੈ 11, 2017
Draft Tri-Party Repo (Reserve Bank) Directions, 2017
RESERVE BANK OF INDIA FINANCIAL MARKETS REGULATION DEPARTMENT 1st FLOOR, CENTRAL OFFICE, FORT MUMBAI 400 001 FMRD.DIRD./CGM(TRS) - 2017 dated April 11, 2017 Draft Tri-Party Repo (Reserve Bank) Directions, 2017 The Reserve Bank of India having considered it necessary in public interest and to regulate the financial system of the country to its advantage, in exercise of the powers conferred by section 45W of the Reserve Bank of India Act, 1934 and of all the powers enab
RESERVE BANK OF INDIA FINANCIAL MARKETS REGULATION DEPARTMENT 1st FLOOR, CENTRAL OFFICE, FORT MUMBAI 400 001 FMRD.DIRD./CGM(TRS) - 2017 dated April 11, 2017 Draft Tri-Party Repo (Reserve Bank) Directions, 2017 The Reserve Bank of India having considered it necessary in public interest and to regulate the financial system of the country to its advantage, in exercise of the powers conferred by section 45W of the Reserve Bank of India Act, 1934 and of all the powers enab
ਮਾਰਚ 20, 2017
Master Directions on Issuance and Operation of Prepaid Payment Instruments in India
RBI/DPSS/2016-17/ DPSS.CO.PD. No. /02.14.006/2016-17 March 20, 2017 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all prospective Prepaid Payment Instrument Issuers (Draft Master Directions for Comments) Dear Sir/ Madam, Master Directions on Issuance and Operation of Prepaid Payment Instruments in India As you are aware, the Reserve Bank of India has, from time to time, issued a number of circulars containing policy guidelines on Is
RBI/DPSS/2016-17/ DPSS.CO.PD. No. /02.14.006/2016-17 March 20, 2017 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all prospective Prepaid Payment Instrument Issuers (Draft Master Directions for Comments) Dear Sir/ Madam, Master Directions on Issuance and Operation of Prepaid Payment Instruments in India As you are aware, the Reserve Bank of India has, from time to time, issued a number of circulars containing policy guidelines on Is
ਫ਼ਰ 16, 2017
Draft Circular - Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions
DPSS.CO.PD.No. /02.14.003/2016-17 February 16, 2017 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Payments Banks and Small Finance Banks / All Card Network Providers Dear Madam / Sir, Draft Circular - Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions Recent developments, including the comm
DPSS.CO.PD.No. /02.14.003/2016-17 February 16, 2017 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Payments Banks and Small Finance Banks / All Card Network Providers Dear Madam / Sir, Draft Circular - Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions Recent developments, including the comm
ਫ਼ਰ 02, 2017
Reserve Bank Commercial Paper Directions, 2017
DRAFT DIRECTIONS RESERVE BANK OF INDIA FINANCIAL MARKETS REGULATION DEPARTMENT 1st FLOOR, CENTRAL OFFICE FORT MUMBAI 400 001 FMRD.DIRD./CGM(TRS) - 2017 dated February 2, 2017 Reserve Bank Commercial Paper Directions, 2017 Whereas the Reserve Bank of India, in exercise of the powers conferred by Sections 45J, 45K, 45L of the Reserve Bank of India Act, 1934, and of all the powers enabling it in this behalf, notified the Non-Banking Companies (Acceptance of Deposits thro
DRAFT DIRECTIONS RESERVE BANK OF INDIA FINANCIAL MARKETS REGULATION DEPARTMENT 1st FLOOR, CENTRAL OFFICE FORT MUMBAI 400 001 FMRD.DIRD./CGM(TRS) - 2017 dated February 2, 2017 Reserve Bank Commercial Paper Directions, 2017 Whereas the Reserve Bank of India, in exercise of the powers conferred by Sections 45J, 45K, 45L of the Reserve Bank of India Act, 1934, and of all the powers enabling it in this behalf, notified the Non-Banking Companies (Acceptance of Deposits thro
ਫ਼ਰ 02, 2017
Draft Guidelines on governance, measurement and management of Interest Rate Risk in Banking Book
RBI/2016-17/ DBR.No.BP.BC…/21.07.005/2016-17 February 2, 2017 The Managing Director/ Chief Executive Officer of All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam / Dear Sir, Draft Guidelines on governance, measurement and management of Interest Rate Risk in Banking Book Please refer to the paragraph 5 of the Statement on Developmental and Regulatory Policies, by RBI, dated October 4, 2016. It was indicated therein that RBI would issue draft guideli
RBI/2016-17/ DBR.No.BP.BC…/21.07.005/2016-17 February 2, 2017 The Managing Director/ Chief Executive Officer of All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam / Dear Sir, Draft Guidelines on governance, measurement and management of Interest Rate Risk in Banking Book Please refer to the paragraph 5 of the Statement on Developmental and Regulatory Policies, by RBI, dated October 4, 2016. It was indicated therein that RBI would issue draft guideli
ਨਵੰ 04, 2016
Centralized Hedging Facility for Indian subsidiaries of Non-resident Companies
1. Purpose To provide greater flexibility for hedging the currency risk arising out of current account transactions of Indian subsidiaries of Multi-National Companies (MNCs) by the parent or any non-resident group entity. 2. Users Non-resident parent or its centralised treasury or any other related entity hedging on behalf of the Indian subsidiary. 3. Products All FCY-INR derivatives, OTC as well exchange traded that the Indian subsidiary is eligible to undertake. 4.
1. Purpose To provide greater flexibility for hedging the currency risk arising out of current account transactions of Indian subsidiaries of Multi-National Companies (MNCs) by the parent or any non-resident group entity. 2. Users Non-resident parent or its centralised treasury or any other related entity hedging on behalf of the Indian subsidiary. 3. Products All FCY-INR derivatives, OTC as well exchange traded that the Indian subsidiary is eligible to undertake. 4.
ਅਗ 25, 2016
Draft Large Exposures Framework
1. Introduction 1.1 A bank’s exposures to its counterparties may result in concentration of its assets to a single counterparty or a group of connected counterparties. As a first step to address the concentration risk, the Reserve Bank, in March 1989, fixed limits on bank exposures to an individual business concern and to business concerns of a group.RBI’s prudential exposure norms have evolved since then and a bank’s exposure to a single borrower and a borrower group
1. Introduction 1.1 A bank’s exposures to its counterparties may result in concentration of its assets to a single counterparty or a group of connected counterparties. As a first step to address the concentration risk, the Reserve Bank, in March 1989, fixed limits on bank exposures to an individual business concern and to business concerns of a group.RBI’s prudential exposure norms have evolved since then and a bank’s exposure to a single borrower and a borrower group
ਅਗ 11, 2016
Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions
Draft Circular (for public comments) RBI/2016-17/ DBR.No.Leg.BC. /09.07.005/2016-17 August 11, 2016 All Scheduled Commercial Banks (including RRBs) All Co-operative Banks Dear Sir/Madam, Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions Please refer to our circular DBOD.Leg.BC.86/09.07.007/2001-02 dated April 8, 2002 regarding reversal of erroneous debits arising from fraudulent and other transactions. 2. With the in
Draft Circular (for public comments) RBI/2016-17/ DBR.No.Leg.BC. /09.07.005/2016-17 August 11, 2016 All Scheduled Commercial Banks (including RRBs) All Co-operative Banks Dear Sir/Madam, Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions Please refer to our circular DBOD.Leg.BC.86/09.07.007/2001-02 dated April 8, 2002 regarding reversal of erroneous debits arising from fraudulent and other transactions. 2. With the in
ਅਗ 01, 2016
Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector
Preamble The Reserve Bank of India (RBI) had issued guidelines for licensing of new banks in the private sector on February 22, 2013. Reserve Bank issued in-principle approval to two applicants and they have since established the banks as per the licences. Recognising the need for having an explicit policy on banking structure in India in line with the recommendations of the Narasimham Committee, Raghuram G. Rajan Committee, and other viewpoints, the Reserve Bank came
Preamble The Reserve Bank of India (RBI) had issued guidelines for licensing of new banks in the private sector on February 22, 2013. Reserve Bank issued in-principle approval to two applicants and they have since established the banks as per the licences. Recognising the need for having an explicit policy on banking structure in India in line with the recommendations of the Narasimham Committee, Raghuram G. Rajan Committee, and other viewpoints, the Reserve Bank came
ਜੁਲਾ 07, 2016
Statutory Branch Auditors recommended for appointment in Public Sector Banks – 2015-16
During the year 2015-16, all the 25 PSBs have exercised managerial autonomy in regard to selection and appointment of SBAs. The names of audit firms recommended by these 25 banks and approved by RBI are displayed on the web-site. While approving names of audit firms, banks were advised not to allot more than three branches per audit firm and that they should allot branches, to the extent possible, to the audit firms taking into consideration their category and audit e
During the year 2015-16, all the 25 PSBs have exercised managerial autonomy in regard to selection and appointment of SBAs. The names of audit firms recommended by these 25 banks and approved by RBI are displayed on the web-site. While approving names of audit firms, banks were advised not to allot more than three branches per audit firm and that they should allot branches, to the extent possible, to the audit firms taking into consideration their category and audit e
ਜੂਨ 23, 2016
Draft Guidelines for computing exposure for counterparty credit risk arising from derivative transactions
RBI/2015-16/ DBR.No.BP.BC./21.06.201/2015-16 June 22, 2016 The Managing Director/ Chief Executive Officer of All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam / Dear Sir, Draft Guidelines for computing exposure for counterparty credit risk arising from derivative transactions Please refer to the paragraph 27 of the first bi-monthly monetary policy statement for 2016-17. It was indicated therein that RBI will issue draft guidelines on Standardised A
RBI/2015-16/ DBR.No.BP.BC./21.06.201/2015-16 June 22, 2016 The Managing Director/ Chief Executive Officer of All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam / Dear Sir, Draft Guidelines for computing exposure for counterparty credit risk arising from derivative transactions Please refer to the paragraph 27 of the first bi-monthly monetary policy statement for 2016-17. It was indicated therein that RBI will issue draft guidelines on Standardised A
ਮਈ 16, 2016
Investment by Foreign Portfolio Investors (FPI) in Corporate Debt Securities
Draft Circular RBI/2015-16/…. A.P. (DIR Series) Circular No. … ..…, 2016 To, All Category – I Authorised Dealer banks Madam / Sir, Investment by Foreign Portfolio Investors (FPI) in Corporate Debt Securities Attention of Authorised Dealers Category – I (AD Category - I) banks is invited to paragraph 1 of Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified vide Notification No. FEMA
Draft Circular RBI/2015-16/…. A.P. (DIR Series) Circular No. … ..…, 2016 To, All Category – I Authorised Dealer banks Madam / Sir, Investment by Foreign Portfolio Investors (FPI) in Corporate Debt Securities Attention of Authorised Dealers Category – I (AD Category - I) banks is invited to paragraph 1 of Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified vide Notification No. FEMA
ਮਈ 12, 2016
Discussion Paper – Framework for enhancing Credit Supply for Large Borrowers through Market Mechanism
In March 2015, RBI issued a Discussion Paper titled “Large Exposures Framework and Enhancing Credit Supply through Market Mechanism” for stakeholders’ comments. Apart from introducing the contours of ‘Large Exposures Standards’ for banks in India, the Discussion Paper also focused on the need to encourage sources of funding other than bank credit for the corporate sector to finance growth. Specifically, the paper proposed ways to encourage large corporates with borrow
In March 2015, RBI issued a Discussion Paper titled “Large Exposures Framework and Enhancing Credit Supply through Market Mechanism” for stakeholders’ comments. Apart from introducing the contours of ‘Large Exposures Standards’ for banks in India, the Discussion Paper also focused on the need to encourage sources of funding other than bank credit for the corporate sector to finance growth. Specifically, the paper proposed ways to encourage large corporates with borrow
ਮਈ 05, 2016
Draft Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector
Preamble The Reserve Bank of India (RBI) had issued guidelines for licensing of new banks in the private sector on February 22, 2013. Reserve Bank issued in-principle approval to two applicants and they have since established the banks as per the licences. Recognising the need for having an explicit policy on banking structure in India in line with the recommendations of the Narasimham Committee, Raghuram G. Rajan Committee and other viewpoints, the Reserve Bank came
Preamble The Reserve Bank of India (RBI) had issued guidelines for licensing of new banks in the private sector on February 22, 2013. Reserve Bank issued in-principle approval to two applicants and they have since established the banks as per the licences. Recognising the need for having an explicit policy on banking structure in India in line with the recommendations of the Narasimham Committee, Raghuram G. Rajan Committee and other viewpoints, the Reserve Bank came
ਮਈ 02, 2016
Discussion Paper on Margin Requirements for non-Centrally Cleared Derivatives
Derivatives are an integral risk management tool for most of the business entities and financial institutions. Most of the bigger and mid-size companies in India use derivatives to manage foreign currency, interest rate and commodity price risks. Derivatives foster financial innovation and contribute to the completeness of financial markets. However, if not regulated and supervised appropriately, derivatives markets can also be a source of systemic risk. One of the le
Derivatives are an integral risk management tool for most of the business entities and financial institutions. Most of the bigger and mid-size companies in India use derivatives to manage foreign currency, interest rate and commodity price risks. Derivatives foster financial innovation and contribute to the completeness of financial markets. However, if not regulated and supervised appropriately, derivatives markets can also be a source of systemic risk. One of the le
ਅਪ੍ਰੈ 28, 2016
Consultation Paper on Peer to Peer Lending
INDEX 1. Introduction 2. P2P Lending Globally 3. P2P Lending India 4. Arguments for and against Regulating the Sector 5. The Way Forward 6. Feedback/Comments Introduction The financial sector is not immune from the advent of online industry and its potential impact. For this reason, it is attracting attention of analysts, investors, customers, businesses and regulators in a major way. Peer-to-Peer (P2P) lending is one such business model that has gathered momentum glo
INDEX 1. Introduction 2. P2P Lending Globally 3. P2P Lending India 4. Arguments for and against Regulating the Sector 5. The Way Forward 6. Feedback/Comments Introduction The financial sector is not immune from the advent of online industry and its potential impact. For this reason, it is attracting attention of analysts, investors, customers, businesses and regulators in a major way. Peer-to-Peer (P2P) lending is one such business model that has gathered momentum glo
ਅਪ੍ਰੈ 07, 2016
Proposal to ease documentation requirements on residents for hedging of currency risk arising out of trade transactions under the Contracted Exposure route
Under the extant regulatory framework under FEMA, 1999 and Regulations1 thereunder, the various routes available to residents intending to hedge currency risk are as follows: Exposure based on underlying contracts Probable Exposures based on Past Performance Special Dispensation for SMEs and Individuals Under (i), the Contracted Exposure route, clients have to submit evidence of underlying foreign currency exposure to AD Cat-I banks at the time of booking the derivati
Under the extant regulatory framework under FEMA, 1999 and Regulations1 thereunder, the various routes available to residents intending to hedge currency risk are as follows: Exposure based on underlying contracts Probable Exposures based on Past Performance Special Dispensation for SMEs and Individuals Under (i), the Contracted Exposure route, clients have to submit evidence of underlying foreign currency exposure to AD Cat-I banks at the time of booking the derivati
ਮਾਰਚ 03, 2016
Directions regarding Registration and Operations of NBFC - Account Aggregators under section 45-IA of the Reserve Bank of India Act, 1934
The Reserve Bank of India, (the Bank) issued a Notification No..........DNBS.(AA) / CGM (CDS)-2016 dated XXXX 2016 in terms of sub-clause (iii) of clause(f) of section 45I of the Reserve Bank of India Act, 1934 (hereinafter referred to “the Act”) and on being satisfied that it is necessary to do so, in exercise of the powers conferred under section 45JA of the Act, and of all the powers enabling it in this behalf, hereby issues these directions for compliance of the s
The Reserve Bank of India, (the Bank) issued a Notification No..........DNBS.(AA) / CGM (CDS)-2016 dated XXXX 2016 in terms of sub-clause (iii) of clause(f) of section 45I of the Reserve Bank of India Act, 1934 (hereinafter referred to “the Act”) and on being satisfied that it is necessary to do so, in exercise of the powers conferred under section 45JA of the Act, and of all the powers enabling it in this behalf, hereby issues these directions for compliance of the s
ਸਤੰ 23, 2015
Draft framework on External Commercial Borrowings (ECB)
The basic objective of the extant External Commercial Borrowings (ECB) policy is to supplement domestic capital for creation of capital assets in the country, limited by considerations for capital account management. With the above objective in view, the ECB regime has been progressively liberalised over the years, allowing different entities to raise ECB. Within the overarching stance of calibrated approach to the capital account liberalisation, an attempt has now be
The basic objective of the extant External Commercial Borrowings (ECB) policy is to supplement domestic capital for creation of capital assets in the country, limited by considerations for capital account management. With the above objective in view, the ECB regime has been progressively liberalised over the years, allowing different entities to raise ECB. Within the overarching stance of calibrated approach to the capital account liberalisation, an attempt has now be
ਸਤੰ 01, 2015
Draft Guidelines on Transmission of Monetary Policy Rates to Banks’ Lending Rates – Base Rate Guidelines
Background 1. Under Base Rate system which came into effect from July 1, 2010, all categories of domestic rupee loans should be priced only with reference to the Base Rate, subject to the conditions mentioned in our circulars DBOD.No.Dir.BC.88/13.03.00/2009-10 dated April 9, 2010 and DBR. Dir.BC.No.63/13.03.00/2014-15 dated January 19, 2015. For monetary transmission to occur, lending rates have to be sensitive to the policy rate. At present, banks follow different me
Background 1. Under Base Rate system which came into effect from July 1, 2010, all categories of domestic rupee loans should be priced only with reference to the Base Rate, subject to the conditions mentioned in our circulars DBOD.No.Dir.BC.88/13.03.00/2009-10 dated April 9, 2010 and DBR. Dir.BC.No.63/13.03.00/2014-15 dated January 19, 2015. For monetary transmission to occur, lending rates have to be sensitive to the policy rate. At present, banks follow different me
ਜੂਨ 25, 2015
Draft Guidelines on Writing of plain vanilla European Call and Put currency options by resident exporters and importers of goods and services
Under the existing regulatory framework, persons resident in India are permitted to buy plain vanilla European call or put options to hedge foreign currency exposures in accordance with Schedule I of Notification No. FEMA/25/RB‐2000 dated May 3, 2000 as amended from time to time from any AD Category‐I bank who has been accorded onetime approval by the Reserve Bank to run a FCY-INR options book. Writing of options by the users, on a standalone basis, is not permitted.
Under the existing regulatory framework, persons resident in India are permitted to buy plain vanilla European call or put options to hedge foreign currency exposures in accordance with Schedule I of Notification No. FEMA/25/RB‐2000 dated May 3, 2000 as amended from time to time from any AD Category‐I bank who has been accorded onetime approval by the Reserve Bank to run a FCY-INR options book. Writing of options by the users, on a standalone basis, is not permitted.
ਜੂਨ 09, 2015
Draft Framework on Issuance of Rupee linked Bonds Overseas
Issuance of Rupee linked bonds overseas Attention of members of public is invited to paragraph 31 of the first Bi-monthly Monetary Policy Statement, 2015-16 announced by the Reserve Bank on April 07, 2015 proposing to expand the scope of issuance of Rupee linked bond overseas by the international financial institutions as also permit Indian corporates, eligible to raise external commercial borrowings (ECB), issue such bonds with an appropriate regulatory framework. 2.
Issuance of Rupee linked bonds overseas Attention of members of public is invited to paragraph 31 of the first Bi-monthly Monetary Policy Statement, 2015-16 announced by the Reserve Bank on April 07, 2015 proposing to expand the scope of issuance of Rupee linked bond overseas by the international financial institutions as also permit Indian corporates, eligible to raise external commercial borrowings (ECB), issue such bonds with an appropriate regulatory framework. 2.
ਮਈ 28, 2015
Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Draft Guidelines
RBI/2014-15/ DBR.BP.BC.XX/21.04.098/2014-15 May 28, 2015 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Draft Guidelines Please refer to the ‘First Bi-monthly Monetary Policy Statement, 2015-16’ announced on April 7, 2015, wherein the following proposal was made: 19. The Basel Committee on Banking Supervision issued the final rules on the Net Stable Funding Ratio (NSFR) in Octobe
RBI/2014-15/ DBR.BP.BC.XX/21.04.098/2014-15 May 28, 2015 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Draft Guidelines Please refer to the ‘First Bi-monthly Monetary Policy Statement, 2015-16’ announced on April 7, 2015, wherein the following proposal was made: 19. The Basel Committee on Banking Supervision issued the final rules on the Net Stable Funding Ratio (NSFR) in Octobe
ਮਈ 28, 2015
Prepaid Payment Instrument (PPI) guidelines – Introduction of New Category of PPI for Mass Transit Systems (PPI- MTS)
DPSS.CO.PD.No./02.14.003/2014-2015 May 28, 2015 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all other Prospective Prepaid PaymentInstrument Issuers (DRAFT CIRCULAR FOR PUBLIC COMMENTS) Madam/Dear Sir Prepaid Payment Instrument (PPI) guidelines – Introduction of New Category of PPI for Mass Transit Systems (PPI- MTS) A reference is invited to the Master circular issued vide RBI/2014-2015/105 DPSS.CO.PD. PPI.No. 3/02.14.006/2014-15
DPSS.CO.PD.No./02.14.003/2014-2015 May 28, 2015 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all other Prospective Prepaid PaymentInstrument Issuers (DRAFT CIRCULAR FOR PUBLIC COMMENTS) Madam/Dear Sir Prepaid Payment Instrument (PPI) guidelines – Introduction of New Category of PPI for Mass Transit Systems (PPI- MTS) A reference is invited to the Master circular issued vide RBI/2014-2015/105 DPSS.CO.PD. PPI.No. 3/02.14.006/2014-15
ਅਪ੍ਰੈ 10, 2015
Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs
1. Introduction 1.1 NBFCs have been outsourcing various activities and are hence exposed to various risks as detailed in para 1.2. Further, the outsourcing activities are to be brought within regulatory purview to a) protect the interest of the customers of NBFCs and b) to ensure that the NBFC concerned and the Reserve Bank of India have access to all books, records and information available with service provider. Typically outsourced financial services include applic
1. Introduction 1.1 NBFCs have been outsourcing various activities and are hence exposed to various risks as detailed in para 1.2. Further, the outsourcing activities are to be brought within regulatory purview to a) protect the interest of the customers of NBFCs and b) to ensure that the NBFC concerned and the Reserve Bank of India have access to all books, records and information available with service provider. Typically outsourced financial services include applic
ਮਾਰਚ 30, 2015
Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of NBFCs
DNBR (PD) CC.No. /03.10.001/2014-15 March, 2015 All NBFCs (excluding Primary Dealers) Dear Sirs, DRAFT FOR PUBLIC COMMENTS Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of NBFCs Please refer to DNBS (PD) CC.No.376/03.10.001/2013-14 and Notification No. DNBS(PD) 275/ GM(AM)-2014 dated May 26, 2014 on the ‘Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2014’. Reserve Bank has re
DNBR (PD) CC.No. /03.10.001/2014-15 March, 2015 All NBFCs (excluding Primary Dealers) Dear Sirs, DRAFT FOR PUBLIC COMMENTS Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of NBFCs Please refer to DNBS (PD) CC.No.376/03.10.001/2013-14 and Notification No. DNBS(PD) 275/ GM(AM)-2014 dated May 26, 2014 on the ‘Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2014’. Reserve Bank has re
ਮਾਰਚ 30, 2015
Large Exposures Framework and Enhancing Credit Supply through Market Mechanism
March 27, 2015 Background A bank’s exposure to its counterparties may result in concentration of its assets to a single counterparty or a group of connected counterparties. Internationally, concentration risk has been addressed by prescribing regulatory and statutory limits on exposures towards counterparties and various sectors of the economy. The Basel Committee on Banking Supervision (BCBS) too recognised the need for banks to measure and limit the size of large ex
March 27, 2015 Background A bank’s exposure to its counterparties may result in concentration of its assets to a single counterparty or a group of connected counterparties. Internationally, concentration risk has been addressed by prescribing regulatory and statutory limits on exposures towards counterparties and various sectors of the economy. The Basel Committee on Banking Supervision (BCBS) too recognised the need for banks to measure and limit the size of large ex
ਮਾਰਚ 13, 2015
Card Payments - Removal of requirement of Additional Factor of Authentication for small value card present transactions
DPSS.CO.PD.No. /02.14.003/2014-2015 March 13, 2015 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Authorised Card Payment Networks (Draft Circular for comments) Madam / Dear Sir Card Payments - Removal of requirement of Additional Factor of Authentication for small value card present transactions Reserve Bank of India
DPSS.CO.PD.No. /02.14.003/2014-2015 March 13, 2015 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Authorised Card Payment Networks (Draft Circular for comments) Madam / Dear Sir Card Payments - Removal of requirement of Additional Factor of Authentication for small value card present transactions Reserve Bank of India
ਦਸੰ 03, 2014
RBI releases Guidelines for setting up of and operating TReDS
The Reserve Bank of India (RBI) today announced the guidelines for setting up and operating the Trade Receivables Discounting System (TReDS). TReDs is a scheme for setting up and operating the institutional mechanism to facilitate the financing of trade receivables of micro, small and medium enterprises (MSMEs) from corporate and other buyers, including government departments and public sector undertakings (PSUs) through multiple financiers.
The Reserve Bank of India (RBI) today announced the guidelines for setting up and operating the Trade Receivables Discounting System (TReDS). TReDs is a scheme for setting up and operating the institutional mechanism to facilitate the financing of trade receivables of micro, small and medium enterprises (MSMEs) from corporate and other buyers, including government departments and public sector undertakings (PSUs) through multiple financiers.
ਅਗ 07, 2014
Draft Guidelines for Implementation of Bharat Bill Payment System (BBPS)
Introduction 1. Bill payment is a major component of the retail payment transactions. The Committee to study the Feasibility of Implementation of GIRO based Payment Systems (Chairman: Shri G. Padmanabhan, Executive Director, RBI) (2013) had estimated that over 30,800 million bills amounting to Rs.6223 billion are generated each year in the top 20 cities in the country. Though various forms of payments are accepted, cash and cheque payments continue to be predominant,
Introduction 1. Bill payment is a major component of the retail payment transactions. The Committee to study the Feasibility of Implementation of GIRO based Payment Systems (Chairman: Shri G. Padmanabhan, Executive Director, RBI) (2013) had estimated that over 30,800 million bills amounting to Rs.6223 billion are generated each year in the top 20 cities in the country. Though various forms of payments are accepted, cash and cheque payments continue to be predominant,
ਜੁਲਾ 22, 2014
Framework for Dealing with Domestic Systemically Important Banks (D-SIBs)
Introduction Some banks, due to their size, cross-jurisdictional activities, complexity, lack of substitutability and interconnectedness, become systemically important. The disorderly failure of these banks has the potential to cause significant disruption to the essential services they provide to the banking system, and in turn, to the overall economic activity. Therefore, the continued functioning of Systemically Important Banks (SIBs) is critical for the uninterrup
Introduction Some banks, due to their size, cross-jurisdictional activities, complexity, lack of substitutability and interconnectedness, become systemically important. The disorderly failure of these banks has the potential to cause significant disruption to the essential services they provide to the banking system, and in turn, to the overall economic activity. Therefore, the continued functioning of Systemically Important Banks (SIBs) is critical for the uninterrup
ਜੁਲਾ 22, 2014
Draft Guidelines for setting up of and operating TReDS
Micro, Small and Medium Enterprises (MSMEs), despite the important role played by them in the economic fabric of the country, continue to face constraints in obtaining adequate finance, particularly in terms of their ability to convert their trade receivables into liquid funds. In order to address this pan-India issue through setting up of an institutional mechanism for financing trade receivables,the Reserve Bank of India had published a concept paper on “Micro, Smal
Micro, Small and Medium Enterprises (MSMEs), despite the important role played by them in the economic fabric of the country, continue to face constraints in obtaining adequate finance, particularly in terms of their ability to convert their trade receivables into liquid funds. In order to address this pan-India issue through setting up of an institutional mechanism for financing trade receivables,the Reserve Bank of India had published a concept paper on “Micro, Smal
ਜੁਲਾ 17, 2014
Draft Guidelines for Licensing of “Payments Banks”
I. Preamble The Reserve Bank of India (RBI) issues licences to entities to carry on the business of banking and other business in which banking companies may engage, as defined and described in Sections 5 (b) and 6 (1) (a) to (o) of the Banking Regulation Act, 1949, respectively. The last time when RBI came out with a set of guidelines for licensing of new banks in the private sector was in February 2013. The process of licensing culminated with the announcement by th
I. Preamble The Reserve Bank of India (RBI) issues licences to entities to carry on the business of banking and other business in which banking companies may engage, as defined and described in Sections 5 (b) and 6 (1) (a) to (o) of the Banking Regulation Act, 1949, respectively. The last time when RBI came out with a set of guidelines for licensing of new banks in the private sector was in February 2013. The process of licensing culminated with the announcement by th
ਜੁਲਾ 17, 2014
Draft Guidelines for Licensing of “Small Banks” in the Private Sector
I. Preamble The Reserve Bank of India (RBI) last came out with a set of guidelines for licensing of new banks in the private sector on February 22, 2013. The process of licensing culminated with the announcement by the RBI vide its Press Release dated April 2, 2014 that it would grant “in-principle” approval to two applicants who would set up new banks in the private sector within a period of 18 months. While preparing these guidelines, the Reserve Bank recognized the
I. Preamble The Reserve Bank of India (RBI) last came out with a set of guidelines for licensing of new banks in the private sector on February 22, 2013. The process of licensing culminated with the announcement by the RBI vide its Press Release dated April 2, 2014 that it would grant “in-principle” approval to two applicants who would set up new banks in the private sector within a period of 18 months. While preparing these guidelines, the Reserve Bank recognized the
ਮਈ 20, 2014
Partial Credit Enhancements to Corporate Bonds – Draft Circular
DBOD.BP.BC.No. /08.12.014/2013-14 May 20, 2014 All Scheduled Commercial Banks (excluding RRBs ) Dear Sir, Partial Credit Enhancements to Corporate Bonds – Draft Circular Please refer to paragraph 30 of the Second Quarter Review of Monetary Policy 2013-14 (extract enclosed) announced on October 29, 2013 proposing to allow banks to offer partial credit enhancements to corporate bonds. 2. The corporate bond market in India currently lacks sufficient depth and liquidity.
DBOD.BP.BC.No. /08.12.014/2013-14 May 20, 2014 All Scheduled Commercial Banks (excluding RRBs ) Dear Sir, Partial Credit Enhancements to Corporate Bonds – Draft Circular Please refer to paragraph 30 of the Second Quarter Review of Monetary Policy 2013-14 (extract enclosed) announced on October 29, 2013 proposing to allow banks to offer partial credit enhancements to corporate bonds. 2. The corporate bond market in India currently lacks sufficient depth and liquidity.
ਮਾਰਚ 19, 2014
Concept Paper on Trade Receivables and Credit Exchange for Financing of Micro, Small and Medium Enterprises
PREFACE The role of Micro, Small and Medium Enterprises (MSMEs) in the economic landscape of the country needs no reiteration. Given the potential of this segment to unlock growth, employment and inclusion in the economy and society, it is indeed the need of the hour to address concerns related to financing of this segment. Despite efforts on multiple fronts as well as enabling legal and regulatory provisions, the MSME segment continues to be belaboured with the probl
PREFACE The role of Micro, Small and Medium Enterprises (MSMEs) in the economic landscape of the country needs no reiteration. Given the potential of this segment to unlock growth, employment and inclusion in the economy and society, it is indeed the need of the hour to address concerns related to financing of this segment. Despite efforts on multiple fronts as well as enabling legal and regulatory provisions, the MSME segment continues to be belaboured with the probl
ਦਸੰ 02, 2013
Framework for Dealing with Domestic Systemically Important Banks (D-SIBs) – Draft for Comments
Introduction A few banks assume systemic importance due to their size, cross-jurisdictional activities, complexity, lack of substitutability and interconnectedness. The disorderly failure of these banks has the propensity to cause significant disruption to the essential services provided by the banking system, and in turn, to the overall economic activity. These banks are considered Systemically Important Banks (SIBs) as their continued functioning is critical for the
Introduction A few banks assume systemic importance due to their size, cross-jurisdictional activities, complexity, lack of substitutability and interconnectedness. The disorderly failure of these banks has the propensity to cause significant disruption to the essential services provided by the banking system, and in turn, to the overall economic activity. These banks are considered Systemically Important Banks (SIBs) as their continued functioning is critical for the
ਨਵੰ 29, 2013
Entry of Banks into Insurance Business – Insurance Broking Business
DBOD.No.FSD./24.01.018/2013-14 November 29, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/ Madam, Entry of Banks into Insurance Business – Insurance Broking Business Consequent to the announcement by the Finance Minister in the budget speech 2013-14 that banks will be permitted to act as insurance brokers, IRDA has formulated and notified the IRDA (Licensing of Banks as Insurance Brokers) Regulations, 2013 to enable banks to take up the business of ins
DBOD.No.FSD./24.01.018/2013-14 November 29, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/ Madam, Entry of Banks into Insurance Business – Insurance Broking Business Consequent to the announcement by the Finance Minister in the budget speech 2013-14 that banks will be permitted to act as insurance brokers, IRDA has formulated and notified the IRDA (Licensing of Banks as Insurance Brokers) Regulations, 2013 to enable banks to take up the business of ins
ਜੁਲਾ 02, 2013
Draft Guidelines on Capital and Provisioning Requirements for exposures to corporates having unhedged foreign currency exposure
RBI/2013-14/ DBOD.No.BP.BC. /21.06.200/2013-14 July 2, 2013 The Chairman and Managing Director/ Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs and LABs) Dear Sir, Draft Guidelines on Capital and Provisioning Requirements for exposures to corporates having unhedged foreign currency exposure Please refer to paragraph 99 of the Monetary Policy Statement for 2013-14 (Extract annexed). Unhedged foreign currency exposures of the corporate are an area
RBI/2013-14/ DBOD.No.BP.BC. /21.06.200/2013-14 July 2, 2013 The Chairman and Managing Director/ Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs and LABs) Dear Sir, Draft Guidelines on Capital and Provisioning Requirements for exposures to corporates having unhedged foreign currency exposure Please refer to paragraph 99 of the Monetary Policy Statement for 2013-14 (Extract annexed). Unhedged foreign currency exposures of the corporate are an area
ਜੂਨ 28, 2013
Guidelines on Wealth Management /Marketing/Distribution Services offered by Banks – Draft Guidelines
DBOD.CO.FSD.No. /24.01.026/2012-13 June 28, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam Guidelines on Wealth Management /Marketing/Distribution Services offered by Banks – Draft Guidelines Please refer to paragraphs 86, 87 and 88 (extracts enclosed) of the Monetary Policy Statement 2013-14 announcement on May 3, 2013 regarding issue of guidelines on wealth management services and distribution of third party financial products by banks. 2. The d
DBOD.CO.FSD.No. /24.01.026/2012-13 June 28, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam Guidelines on Wealth Management /Marketing/Distribution Services offered by Banks – Draft Guidelines Please refer to paragraphs 86, 87 and 88 (extracts enclosed) of the Monetary Policy Statement 2013-14 announcement on May 3, 2013 regarding issue of guidelines on wealth management services and distribution of third party financial products by banks. 2. The d
ਜਨ 31, 2013
Review of Prudential Guidelines on Restructuring of Advances by Banks and Financial Institutions – Draft Guidelines
RBI/2012-13/ DBOD.BP.BC.No. /21.04.132/2012-13 January 31, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Review of Prudential Guidelines on Restructuring of Advances by Banks and Financial Institutions – Draft Guidelines Please refer to paragraphs 90 to 92 (extract enclosed) of the Second Quarter Review of Monetary Policy 2012-13 announced on October 30, 2012, wherein it was indicated that the draft guidelines on ‘Review of Prudential Guidelines on Re
RBI/2012-13/ DBOD.BP.BC.No. /21.04.132/2012-13 January 31, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Review of Prudential Guidelines on Restructuring of Advances by Banks and Financial Institutions – Draft Guidelines Please refer to paragraphs 90 to 92 (extract enclosed) of the Second Quarter Review of Monetary Policy 2012-13 announced on October 30, 2012, wherein it was indicated that the draft guidelines on ‘Review of Prudential Guidelines on Re
ਜਨ 10, 2013
Draft Guidelines on Capital requirements for bank exposures to central counterparties
RBI/2012-13/ DBOD.No.BP.BC. /21.06.201/2012-13 January 10, 2013 The Chairman and Managing Directors/ Chief Executives Officers of All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Draft Guidelines on Capital requirements for bank exposures to central counterparties Please refer to the paragraph 88 (extract enclosed) of the Second Quarter Review of Monetary Policy Statement 2012-13 announced on October 30, 2012. It was indic
RBI/2012-13/ DBOD.No.BP.BC. /21.06.201/2012-13 January 10, 2013 The Chairman and Managing Directors/ Chief Executives Officers of All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Draft Guidelines on Capital requirements for bank exposures to central counterparties Please refer to the paragraph 88 (extract enclosed) of the Second Quarter Review of Monetary Policy Statement 2012-13 announced on October 30, 2012. It was indic
ਜਨ 10, 2013
Draft Guidelines on Composition of Capital Disclosure Requirements
RBI/2012-13/ DBOD.No.BP.BC. /21.06.201/2012-13 January 10, 2013 The Chairman and Managing Directors/ Chief Executives Officers of All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Draft Guidelines on Composition of Capital Disclosure Requirements Please refer to the paragraph 87 (extract enclosed) of the Second Quarter Review of Monetary Policy Statement 2012-13 announced on October 30, 2012. It was indicated that the draft
RBI/2012-13/ DBOD.No.BP.BC. /21.06.201/2012-13 January 10, 2013 The Chairman and Managing Directors/ Chief Executives Officers of All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Draft Guidelines on Composition of Capital Disclosure Requirements Please refer to the paragraph 87 (extract enclosed) of the Second Quarter Review of Monetary Policy Statement 2012-13 announced on October 30, 2012. It was indicated that the draft
ਦਸੰ 12, 2012
Review of NBFC Regulatory Framework – Recommendations of the Working Group on Issues and Concerns in the NBFC Sector
Corporate Governance and Disclosures for NBFCs Entry Point Norms, Principal Business Criteria (PBC), Multiple and Captive NBFCs Liquidity Management for NBFCs Prudential Regulations
Corporate Governance and Disclosures for NBFCs Entry Point Norms, Principal Business Criteria (PBC), Multiple and Captive NBFCs Liquidity Management for NBFCs Prudential Regulations
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