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ਪ੍ਰੈਸ ਰਿਲੀਜ਼
ਮਈ 29, 2001
T + 1 Settlement of SGL transactions
In the Monetary & Credit Policy 2001-02, it was proposed that from June 2, 2001, all transactions in Government securities settled through the Subsidiary General Ledger (SGL)/Delivery versus Payment (DVP) system would be on T + 1 basis. The feedback from the market participants with whom Reserve Bank has had several rounds of consultation is that the date from which T + 1 settlement will be introduced for Subsidiary General Ledger settled transactions should be co
In the Monetary & Credit Policy 2001-02, it was proposed that from June 2, 2001, all transactions in Government securities settled through the Subsidiary General Ledger (SGL)/Delivery versus Payment (DVP) system would be on T + 1 basis. The feedback from the market participants with whom Reserve Bank has had several rounds of consultation is that the date from which T + 1 settlement will be introduced for Subsidiary General Ledger settled transactions should be co
ਪੀਡੀਐਫ (
ਜਨ 16, 2001
Advisory Groups on "Payment and Settlement System" and on "Bankruptcy laws" Submit Reports
It may be recalled that Standing Committee on International Financial Standards and Codes was constituted in December 1999 in order to identify and monitor developments in global standards and codes, consider aspects of applicability of these standards to Indian financial system, periodically review the status and make available its reports to all concerned organisations in public or private sector. The Standing Committee chaired by Deputy Governor, Reserve Bank of In
It may be recalled that Standing Committee on International Financial Standards and Codes was constituted in December 1999 in order to identify and monitor developments in global standards and codes, consider aspects of applicability of these standards to Indian financial system, periodically review the status and make available its reports to all concerned organisations in public or private sector. The Standing Committee chaired by Deputy Governor, Reserve Bank of In
ਸਤੰ 27, 2000
Advisory Group on Payment and Settlement Systems Submits Report
It may be recalled that the Governor, Reserve Bank of India constituted a Standing Committee on International Financial Standards and Codes in December 1999 in order to identify and monitor developments in global standards and codes, consider aspects of applicability of these standards to Indian financial system, periodically review the status and make available its reports to all concerned organisations in public or private sector. The Standing Committee chaired by D
It may be recalled that the Governor, Reserve Bank of India constituted a Standing Committee on International Financial Standards and Codes in December 1999 in order to identify and monitor developments in global standards and codes, consider aspects of applicability of these standards to Indian financial system, periodically review the status and make available its reports to all concerned organisations in public or private sector. The Standing Committee chaired by D
ਜੂਨ 10, 2000
Meeting of the National Payments Council
The National Payments Council under the Chairmanship of Deputy Governor, Shri S.P.Talwar met on June 09, 2000 to discuss the latest developments in the Payments System and the future possibilities. The Council members welcomed the passing of the Information Technology (IT) Bill and the grant of one transponder on INSAT 3-B which will augment the capacity of the Indian Financial Network (INFINET). The Council reviewed the ongoing initiatives for implementing the Centra
The National Payments Council under the Chairmanship of Deputy Governor, Shri S.P.Talwar met on June 09, 2000 to discuss the latest developments in the Payments System and the future possibilities. The Council members welcomed the passing of the Information Technology (IT) Bill and the grant of one transponder on INSAT 3-B which will augment the capacity of the Indian Financial Network (INFINET). The Council reviewed the ongoing initiatives for implementing the Centra
ਮਾਰਚ 31, 2000
RBI sets up Working Group on Priority Areas in Banking Technology
The Information Technology applications in the banking and financial sector in India have grown sharply in recent years. IT can be leveraged to bring about significant improvements in a number of areas including decision making, house keeping, customer service, payment flows, etc., in the banking and financial sector. To ensure the accrual of optimal benefits, necessary human resources development measures and requisite steps to beef up security in IT use have to be t
The Information Technology applications in the banking and financial sector in India have grown sharply in recent years. IT can be leveraged to bring about significant improvements in a number of areas including decision making, house keeping, customer service, payment flows, etc., in the banking and financial sector. To ensure the accrual of optimal benefits, necessary human resources development measures and requisite steps to beef up security in IT use have to be t
ਜਨ 03, 2000
Y2K Status on January 3, 2000
On January 3, 2000, the first full working day of the year, the Reserve Bank of India, banks and financial institutions have been found to be working satisfactorily on the basis of the reports received.Reserve Bank of India The MICR Cheque processing centre at Mumbai using the state-of-the-art Mainframe has completed processing of at par items clearing successfully today. MICR cheque processing at National Clearing Centres of the RBI at Mumbai, New Delhi, Chennai and
On January 3, 2000, the first full working day of the year, the Reserve Bank of India, banks and financial institutions have been found to be working satisfactorily on the basis of the reports received.Reserve Bank of India The MICR Cheque processing centre at Mumbai using the state-of-the-art Mainframe has completed processing of at par items clearing successfully today. MICR cheque processing at National Clearing Centres of the RBI at Mumbai, New Delhi, Chennai and
ਜਨ 01, 2000
Cheque Processing Systems Successfully roll over to Year 2000
On December 31, 1999 the state-of-the-art MICR (Magnetic Ink Character Recognition) cheque processing systems at Mumbai, New Delhi, Chennai and Calcutta continued to operate normally. The centres commenced the normal operations at around 19:00 hours and successfully rolled over to the Year 2000 without any disruption. During the rollover, the hardware, the operating system, the cheque processing application software and associated peripherals like the console, the ter
On December 31, 1999 the state-of-the-art MICR (Magnetic Ink Character Recognition) cheque processing systems at Mumbai, New Delhi, Chennai and Calcutta continued to operate normally. The centres commenced the normal operations at around 19:00 hours and successfully rolled over to the Year 2000 without any disruption. During the rollover, the hardware, the operating system, the cheque processing application software and associated peripherals like the console, the ter
ਨਵੰ 01, 1999
MICR Cheque Processing Upgraded At four Metros by RBI
The MICR Cheque Processing Systems at the four National Clearing Cells of the Reserve Bank of India at the metropolitan centres at Calcutta, Chennai, Mumbai and New Delhi have been replaced with Y2K compliant state-of-the-art IBM S/390 mainframe system based cheque processing solutions. The MICR cheque processing has become operational at the four National Clearing Cells. The cheques, presented at these four National Clearing Cells, are being processed on the new syst
The MICR Cheque Processing Systems at the four National Clearing Cells of the Reserve Bank of India at the metropolitan centres at Calcutta, Chennai, Mumbai and New Delhi have been replaced with Y2K compliant state-of-the-art IBM S/390 mainframe system based cheque processing solutions. The MICR cheque processing has become operational at the four National Clearing Cells. The cheques, presented at these four National Clearing Cells, are being processed on the new syst
ਸਤੰ 07, 1999
RBI sets up Working Group to study the recommendations for SMART Card based Payment System Standards
The Reserve Bank of India has constituted a Working Group in the Department of Information Technology to study the recommendations on standards for SMART Card based Payment Systems made by the Indian Institute of Technology, Powai. The recommendations have been made in document "SMART Card based Payment System Standards" version 3.0, as part of the "Project SMART Rupees System (SMARS)". The Project SMART Rupees System (SMARS) is a pilot project on SMART Card technol
The Reserve Bank of India has constituted a Working Group in the Department of Information Technology to study the recommendations on standards for SMART Card based Payment Systems made by the Indian Institute of Technology, Powai. The recommendations have been made in document "SMART Card based Payment System Standards" version 3.0, as part of the "Project SMART Rupees System (SMARS)". The Project SMART Rupees System (SMARS) is a pilot project on SMART Card technol
ਅਗ 31, 1999
Meeting of the High Level Working Group on Y2K Related Issues
The High Level Working Group constituted by the Reserve Bank of India under the Chairmanship of Shri S.P. Talwar, Deputy Governor reviewed the status of Year 2000 readiness and contingency planing of the banking and financial sector in a meeting held on August 31, 1999. The representatives of the Ministry of Finance and Department of Electronics, Government of India were also present during the meeting.There was also discussion of the criticality of clearing and settl
The High Level Working Group constituted by the Reserve Bank of India under the Chairmanship of Shri S.P. Talwar, Deputy Governor reviewed the status of Year 2000 readiness and contingency planing of the banking and financial sector in a meeting held on August 31, 1999. The representatives of the Ministry of Finance and Department of Electronics, Government of India were also present during the meeting.There was also discussion of the criticality of clearing and settl
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