Know Your Customer (KYC) Guidelines - Anti Money Laundering Standards

RBI-2004-05/284DBOD.NO.AML.BC.58/14.01.001/2004-05November 29, 2004The Chief Executives of All Commercial BanksDear Sir, 'Know Your Customer' (KYC) Guidelines – Anti Money Laundering Standards Please refer to our circular DBOD. No. AML.BC.18/ 14.01.001/2002-2003 dated August 16, 2002 on the guidelines on 'Know Your Customer' norms. Banks were advised to follow certain customer identification procedure for opening of accounts and monitoring transactions of a suspicious

RBI-2004-05/284DBOD.NO.AML.BC.58/14.01.001/2004-05November 29, 2004The Chief Executives of All Commercial BanksDear Sir, 'Know Your Customer' (KYC) Guidelines – Anti Money Laundering Standards Please refer to our circular DBOD. No. AML.BC.18/ 14.01.001/2002-2003 dated August 16, 2002 on the guidelines on 'Know Your Customer' norms. Banks were advised to follow certain customer identification procedure for opening of accounts and monitoring transactions of a suspicious

Know Your Customer (KYC) Guidelines - Anti Money Laundering Standards

Banks permitted to Finance NBFCs against Second Hand Assets

RBI/273/2004-05DBOD.IECS.BC.No. 57 /08.12.01(N)/2004-05 November 19, 2004 All Scheduled Commercial Banks (Excluding RRBs and LABs) Dear Sir, Mid-Term Review of the Annual Policy Statement for the year 2004-05 – Bank Finance to NBFCs Please refer to para 6.1(vi) of our Circular No. RBI 2004-05/14.DBOD.IECS.No.7/08.12.01/2004-05 dated July 1, 2004 read with para 3.8 of our Circular No. RBI/2004-05/79. DBOD.Dir.BC.20/13.03.00/2004-05 dated July 30, 2004, in terms of whic

RBI/273/2004-05DBOD.IECS.BC.No. 57 /08.12.01(N)/2004-05 November 19, 2004 All Scheduled Commercial Banks (Excluding RRBs and LABs) Dear Sir, Mid-Term Review of the Annual Policy Statement for the year 2004-05 – Bank Finance to NBFCs Please refer to para 6.1(vi) of our Circular No. RBI 2004-05/14.DBOD.IECS.No.7/08.12.01/2004-05 dated July 1, 2004 read with para 3.8 of our Circular No. RBI/2004-05/79. DBOD.Dir.BC.20/13.03.00/2004-05 dated July 30, 2004, in terms of whic

Banks permitted to Finance NBFCs against Second Hand Assets

Banks/FIs advised to ensure Submission of Borrowal Accounts Data to CIBIL

RBI/2004-05/272DBOD No.DL.BC.56/20.16.002/2004-05 November 6, 2004 All Scheduled Commercial Banks (excluding RRBs) and Notified All-India Financial Institutions and State Financial Corporations Dear Sir, Mid-term Review of Annual Policy Statement for the year 2004-05 -Dissemination of credit information by CIBIL Reserve Bank had issued instructions to banks and financial institutions (FIs) vide circulars DBOD No.DL.BC.29 and 70/20.16.002/2002-03 dated October 1, 2002

RBI/2004-05/272DBOD No.DL.BC.56/20.16.002/2004-05 November 6, 2004 All Scheduled Commercial Banks (excluding RRBs) and Notified All-India Financial Institutions and State Financial Corporations Dear Sir, Mid-term Review of Annual Policy Statement for the year 2004-05 -Dissemination of credit information by CIBIL Reserve Bank had issued instructions to banks and financial institutions (FIs) vide circulars DBOD No.DL.BC.29 and 70/20.16.002/2002-03 dated October 1, 2002

Banks/FIs advised to ensure Submission of Borrowal Accounts Data to CIBIL

Banks Advised to Formulate their own Cheque Collection Policy

RBI/2004/261 DBOD.No.Leg.BC.55 /09.07.005/2004-05 November 1, 2004 To All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Committee on Procedures and Performance Audit on Public Services (CPPAPS)- Formulating policy for (i) Immediate Credit of local / outstation cheques (ii) Time Frame for Collection of local / outstation cheques and (iii) Interest Payment for delayed collection As you are aware, Reserve Bank has been issuing instructions, from time to time, to

RBI/2004/261 DBOD.No.Leg.BC.55 /09.07.005/2004-05 November 1, 2004 To All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Committee on Procedures and Performance Audit on Public Services (CPPAPS)- Formulating policy for (i) Immediate Credit of local / outstation cheques (ii) Time Frame for Collection of local / outstation cheques and (iii) Interest Payment for delayed collection As you are aware, Reserve Bank has been issuing instructions, from time to time, to

Banks Advised to Formulate their own Cheque Collection Policy

SCBs Advised to fix Ceiling on Interest Rates on Monthly Basis

RBI/2004-05/ 255 DBOD No. Dir. BC. 51/13.03.00/2004-05 November 1, 2004 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Mid- term Review of Annual Policy Statement for the year 2004-05 – Foreign Currency Non-Resident (Banks) Accounts Please refer to the paragraph 72 of the statement on 'Mid-term Review of the Annual Policy Statement for the year 2004-05' enclosed to Governor’s letter MPD.No.256/ 07.01.279/2004-05 dated October 26, 2004 (copy of the paragraph

RBI/2004-05/ 255 DBOD No. Dir. BC. 51/13.03.00/2004-05 November 1, 2004 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Mid- term Review of Annual Policy Statement for the year 2004-05 – Foreign Currency Non-Resident (Banks) Accounts Please refer to the paragraph 72 of the statement on 'Mid-term Review of the Annual Policy Statement for the year 2004-05' enclosed to Governor’s letter MPD.No.256/ 07.01.279/2004-05 dated October 26, 2004 (copy of the paragraph

SCBs Advised to fix Ceiling on Interest Rates on Monthly Basis

Tenor of Domestic Term Deposits Accepted by SCBs Reduced

RBI/2004-05/257 DBOD No. Dir. 54/13.03.00/2004-05 November 1, 2004 All Scheduled Commercial Banks (Excluding RRBS) Dear Sir, Mid-term Review of Annual Policy Statement for the year 2004-05 – Reduction of Tenor of Domestic/ Ordinary Non-Resident (NRO) Term Deposits Please refer to the paragraph 2 and Annexure I of our Master Circular DBOD. No.Dir. BC. 9/ 13.03.00/ 2004-05 dated July 16, 2004, as amended from time to time, specifying interest rates on deposits of money

RBI/2004-05/257 DBOD No. Dir. 54/13.03.00/2004-05 November 1, 2004 All Scheduled Commercial Banks (Excluding RRBS) Dear Sir, Mid-term Review of Annual Policy Statement for the year 2004-05 – Reduction of Tenor of Domestic/ Ordinary Non-Resident (NRO) Term Deposits Please refer to the paragraph 2 and Annexure I of our Master Circular DBOD. No.Dir. BC. 9/ 13.03.00/ 2004-05 dated July 16, 2004, as amended from time to time, specifying interest rates on deposits of money

Tenor of Domestic Term Deposits Accepted by SCBs Reduced

UCBs - Interest Rates on NRE Deposits Raised

RBI/ 2004 -05 /270 UBD.PCB.Cir.27/13.01.00/2004-05 November 1, 2004 Chief Executive Officers of All Primary (Urban) Co-operative Banks Dear Sir, Interest Rate on Non-Resident (External) Rupee (NRE) Deposits Please refer to the paragraph 71 of the statement on 'Mid-term Review of the Annual Policy Statement for the year 2004-05' (copy of the paragraph enclosed). 2. In this context, please refer to item (ii) of Annexure 2 of our Master Circular UBD.11/13.01.00/04-05 dat

RBI/ 2004 -05 /270 UBD.PCB.Cir.27/13.01.00/2004-05 November 1, 2004 Chief Executive Officers of All Primary (Urban) Co-operative Banks Dear Sir, Interest Rate on Non-Resident (External) Rupee (NRE) Deposits Please refer to the paragraph 71 of the statement on 'Mid-term Review of the Annual Policy Statement for the year 2004-05' (copy of the paragraph enclosed). 2. In this context, please refer to item (ii) of Annexure 2 of our Master Circular UBD.11/13.01.00/04-05 dat

UCBs - Interest Rates on NRE Deposits Raised

Prudential Norms for Classification of Doubtful Assets for FIs

RBI / 2004-05 / 258 Ref.No.DBS.FID.No. C-8 /01.02.00/2004-05 November 1, 2004 The CEOs of the all-India Term-lending and Refinancing Institutions (Exim Bank, IDFC Ltd., IFCI Ltd., IIBI Ltd., NABARD, NHB, SIDBI and TFCI Ltd.) Dear Sir, Mid-term Review of AnnualPolicy for the year 2004-05 - Prudential Norms for Classification of Doubtful Assets for FIs Please refer to our circular DBS.FID.No.35/01.02.00/98-99 dated December 3, 1998, in terms of which an asset would be c

RBI / 2004-05 / 258 Ref.No.DBS.FID.No. C-8 /01.02.00/2004-05 November 1, 2004 The CEOs of the all-India Term-lending and Refinancing Institutions (Exim Bank, IDFC Ltd., IFCI Ltd., IIBI Ltd., NABARD, NHB, SIDBI and TFCI Ltd.) Dear Sir, Mid-term Review of AnnualPolicy for the year 2004-05 - Prudential Norms for Classification of Doubtful Assets for FIs Please refer to our circular DBS.FID.No.35/01.02.00/98-99 dated December 3, 1998, in terms of which an asset would be c

Prudential Norms for Classification of Doubtful Assets for FIs

Banks Advised to Disclose Penalties Levied by RBI

RBI / 2004- 05/ 226 DBOD.BP.BC.49 / 21.04.018/ 2004 -2005 October 19, 2004 All Commercial Banks (excluding RRBs) Dear Sir, Enhancement of transparency on bank’s affairs through disclosures The Reserve Bank has been taking several steps from time to time to enhance the transparency of banks by having comprehensive requirements for disclosure in tune with the best practices. The disclosure requirements are being reviewed and revised from time to time. Background 2. The

RBI / 2004- 05/ 226 DBOD.BP.BC.49 / 21.04.018/ 2004 -2005 October 19, 2004 All Commercial Banks (excluding RRBs) Dear Sir, Enhancement of transparency on bank’s affairs through disclosures The Reserve Bank has been taking several steps from time to time to enhance the transparency of banks by having comprehensive requirements for disclosure in tune with the best practices. The disclosure requirements are being reviewed and revised from time to time. Background 2. The

Banks Advised to Disclose Penalties Levied by RBI

Banks asked to give Information on Golden Forest(I) Ltd., to Committee

RBI/2004-05/223 DBOD No. Dir. BC. 48/13.20.02/2004-05 October 18, 2004 All Commercial Banks (excluding RRBs) Dear Sir, Before the Supreme Court of India - I.A.Nos. 9, 20 & 28 – In Transfer Case No. 2 of 2004-P(C) No. 696 of 2002 and I.A.No. 1 in PC 68/2003 – The Securities and Exchange Board of India etc. Vs Golden Forest (I) Ltd. and Others – Appointment of Committee by the Supreme Court - Regarding We advise that the Hon'ble Supreme Court of India has, vide its

RBI/2004-05/223 DBOD No. Dir. BC. 48/13.20.02/2004-05 October 18, 2004 All Commercial Banks (excluding RRBs) Dear Sir, Before the Supreme Court of India - I.A.Nos. 9, 20 & 28 – In Transfer Case No. 2 of 2004-P(C) No. 696 of 2002 and I.A.No. 1 in PC 68/2003 – The Securities and Exchange Board of India etc. Vs Golden Forest (I) Ltd. and Others – Appointment of Committee by the Supreme Court - Regarding We advise that the Hon'ble Supreme Court of India has, vide its

Banks asked to give Information on Golden Forest(I) Ltd., to Committee