Interest rates on Deposits under Non Resident (External) Rupee Account (NRE Accounts)

  RBI/2004/151 DBOD. No. Dir. BC.76/13.01.09/2003-04 April 17, 2004   All Scheduled Commercial Banks (excluding RRBs and LABs) Dear Sir, Interest rates on Deposits under Non Resident (External) Rupee Account (NRE Accounts) Please refer to Annexures I and Annexures II to our Master Circular DBOD. Dir. BC. 11/13.03.00/2003-04 dated August 14, 2003 as amended from time to time specifying interest rates on deposits of money accepted or renewed under different ca

  RBI/2004/151 DBOD. No. Dir. BC.76/13.01.09/2003-04 April 17, 2004   All Scheduled Commercial Banks (excluding RRBs and LABs) Dear Sir, Interest rates on Deposits under Non Resident (External) Rupee Account (NRE Accounts) Please refer to Annexures I and Annexures II to our Master Circular DBOD. Dir. BC. 11/13.03.00/2003-04 dated August 14, 2003 as amended from time to time specifying interest rates on deposits of money accepted or renewed under different ca

Interest rates on Deposits under Non Resident (External) Rupee Account (NRE Accounts)

Committee on Procedures and Performance Audit on Public Services - Report No. 3 - Banking Operations : Deposit Accounts and Other Facilities Relating to Individuals (Non-business)

RBI / 2004 / 140DBOD.No.Leg.BC 74/09.07.005/2003-04 April 10, 2004 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Committee on Procedures and Performance Audit on Public Services - Report No. 3 - Banking Operations : Deposit Accounts and Other Facilities Relating to Individuals (Non-business) Please refer to D.O.letter dated April 6, 2004 addressed to you by our Executive Director, Smt. Shyamala Gopinath on the above subject. The recommendations of the Comm

RBI / 2004 / 140DBOD.No.Leg.BC 74/09.07.005/2003-04 April 10, 2004 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Committee on Procedures and Performance Audit on Public Services - Report No. 3 - Banking Operations : Deposit Accounts and Other Facilities Relating to Individuals (Non-business) Please refer to D.O.letter dated April 6, 2004 addressed to you by our Executive Director, Smt. Shyamala Gopinath on the above subject. The recommendations of the Comm

Committee on Procedures and Performance Audit on Public Services - Report No. 3 - Banking Operations : Deposit Accounts and Other Facilities Relating to Individuals (Non-business)

Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - "Bank Muscat (S.A.O.G.)"

RBI/2004/133 DBOD. Ret. BC No. 73 /12.06.115/2003-04April 2, 2004 All Scheduled Commercial Banks   Dear Sirs, Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - "Bank Muscat (S.A.O.G.)" We advise that the name of "Bank Muscat (S.A.O.G.)" has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from 21st February 2004, i.e. the date on which the relative notification DBOD. No IBS. 1207/ 23.13.039 /2003-

RBI/2004/133 DBOD. Ret. BC No. 73 /12.06.115/2003-04April 2, 2004 All Scheduled Commercial Banks   Dear Sirs, Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - "Bank Muscat (S.A.O.G.)" We advise that the name of "Bank Muscat (S.A.O.G.)" has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from 21st February 2004, i.e. the date on which the relative notification DBOD. No IBS. 1207/ 23.13.039 /2003-

Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - "Bank Muscat (S.A.O.G.)"

Offshore Banking Units (OBUs) in Special Economic Zones (SEZs)

RBI/2004/130DBOD.IBS.BC/ 72 /23.13.004/2003-04 1st April, 2004 All scheduled commercial banks (excluding RRBs and LABs) Dear Sir, Offshore Banking Units (OBUs) in Special Economic Zones (SEZs) Please refer to paragraph 2.5 of the scheme for setting up of OBUs in SEZs enclosed to circular DBOD.IBS.BC. 42/23.13.004/2002-03 dated November 11, 2002 wherein the banks have been advised, inter alia, that the sources for raising foreign currency funds by an OBU would be only

RBI/2004/130DBOD.IBS.BC/ 72 /23.13.004/2003-04 1st April, 2004 All scheduled commercial banks (excluding RRBs and LABs) Dear Sir, Offshore Banking Units (OBUs) in Special Economic Zones (SEZs) Please refer to paragraph 2.5 of the scheme for setting up of OBUs in SEZs enclosed to circular DBOD.IBS.BC. 42/23.13.004/2002-03 dated November 11, 2002 wherein the banks have been advised, inter alia, that the sources for raising foreign currency funds by an OBU would be only

Offshore Banking Units (OBUs) in Special Economic Zones (SEZs)

Accounting Standard - 11 on accounting for ' The effects of changes in foreign exchange rates'

RBI/2004/127DBOD. No. BP. BC. 71/ 21.04.018/ 2003-2004 March 31, 2004 All Scheduled Commercial Banks (excluding RRBs and LABs)   Dear Sir, Accounting Standard - 11 on accounting for ' The effects of changes in foreign exchange rates' Please refer to our circular DBOD. No. BP. BC. 93 / 21.04.018/ 2002- 03 dated April 8, 2003, advising banks to follow the guidelines prescribed in Circular DBOD. No. BP.BC. 68/ 21.04.018/ 96 dated June 5, 1996 (copy enclosed) for fin

RBI/2004/127DBOD. No. BP. BC. 71/ 21.04.018/ 2003-2004 March 31, 2004 All Scheduled Commercial Banks (excluding RRBs and LABs)   Dear Sir, Accounting Standard - 11 on accounting for ' The effects of changes in foreign exchange rates' Please refer to our circular DBOD. No. BP. BC. 93 / 21.04.018/ 2002- 03 dated April 8, 2003, advising banks to follow the guidelines prescribed in Circular DBOD. No. BP.BC. 68/ 21.04.018/ 96 dated June 5, 1996 (copy enclosed) for fin

Accounting Standard - 11 on accounting for ' The effects of changes in foreign exchange rates'

Assessment of performance of statutory auditors

RBI/2004/ 117/Ref DBS. ARS. No. BC. 08 /08:91:001/ 2003-04 March 26, 2004 The Chairman, State Bank of India / The Managing Directors, Associate Banks of SBI/ The Chairmen & Managing Directors of all nationalised Banks Dear Sir, Assessment of performance of statutory auditors As you are aware, at present public sector banks are required to forward to RBI every year a report on the performance of their statutory central and branch auditors based on certain parameter

RBI/2004/ 117/Ref DBS. ARS. No. BC. 08 /08:91:001/ 2003-04 March 26, 2004 The Chairman, State Bank of India / The Managing Directors, Associate Banks of SBI/ The Chairmen & Managing Directors of all nationalised Banks Dear Sir, Assessment of performance of statutory auditors As you are aware, at present public sector banks are required to forward to RBI every year a report on the performance of their statutory central and branch auditors based on certain parameter

Assessment of performance of statutory auditors

Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2003-04

RBI/2004/97Ref.DBS.ARS.No.BC.7 / 08.92.001/ 2003-04March 17, 2004 The Chairman & Managing Director, all Nationalised Banks and The Managing Director, Associate Banks of SBI,Dear Sir, Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2003-04We advise that the audit fees and fee for other services to statutory auditors (central/branch) of public sector banks have since been revised as under, effective from the yea

RBI/2004/97Ref.DBS.ARS.No.BC.7 / 08.92.001/ 2003-04March 17, 2004 The Chairman & Managing Director, all Nationalised Banks and The Managing Director, Associate Banks of SBI,Dear Sir, Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2003-04We advise that the audit fees and fee for other services to statutory auditors (central/branch) of public sector banks have since been revised as under, effective from the yea

Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2003-04

Guidelines on Implementation of Best Practices Code in Banks

March 15,2004RBI/2004/98 DBS. CO. FGV(F) No. 1306 /23.08.001/2003-04 To all scheduled commercial banks (excluding RRBs and LABs) Dear Sir, Guidelines on Implementation of Best Practices Code in Banks. Please refer to our circular DBS.FGV(F) No. 12/23.08.001/2001-2002 dated May 3, 2002, regarding implementation of the recommendations of the Committee on Legal Aspects of Bank Frauds (Mitra Committee) and the High Level CVC Group. We had, among other things, commended to

March 15,2004RBI/2004/98 DBS. CO. FGV(F) No. 1306 /23.08.001/2003-04 To all scheduled commercial banks (excluding RRBs and LABs) Dear Sir, Guidelines on Implementation of Best Practices Code in Banks. Please refer to our circular DBS.FGV(F) No. 12/23.08.001/2001-2002 dated May 3, 2002, regarding implementation of the recommendations of the Committee on Legal Aspects of Bank Frauds (Mitra Committee) and the High Level CVC Group. We had, among other things, commended to

Guidelines on Implementation of Best Practices Code in Banks

Revised guidelines for compromise settlement of chronic Non Performing Assets (NPAs) up to Rs. 10 crore

RBI / 2004 / 62/REF. DBS. FID. No. C-13 / 01.02.00 / 2003-04 February 17, 2004 The CEOs of the all-India Term Lending and Refinancing Institutions (Exim Bank, IDBI, IDFC Ltd., IFCI Ltd., IIBI Ltd., NABARD, NHB, SIDBI and TFCI Ltd.) Dear Sir, Revised guidelines for compromise settlement of chronic Non Performing Assets (NPAs) up to Rs. 10 crore Please refer to our Circular DBS. FID. No. C-15 / 01.02.00 / 2002-03 dated May 30, 2003 on the above subject. In terms of para

RBI / 2004 / 62/REF. DBS. FID. No. C-13 / 01.02.00 / 2003-04 February 17, 2004 The CEOs of the all-India Term Lending and Refinancing Institutions (Exim Bank, IDBI, IDFC Ltd., IFCI Ltd., IIBI Ltd., NABARD, NHB, SIDBI and TFCI Ltd.) Dear Sir, Revised guidelines for compromise settlement of chronic Non Performing Assets (NPAs) up to Rs. 10 crore Please refer to our Circular DBS. FID. No. C-15 / 01.02.00 / 2002-03 dated May 30, 2003 on the above subject. In terms of para

Revised guidelines for compromise settlement of chronic Non Performing Assets (NPAs) up to Rs. 10 crore

Ad-hoc Committees on Procedures and Performance Audit on Customer Services in Banks

RBI/2004/61DBOD.Leg.BC.70/09.07.005/2003-2004 February 17, 2004To All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Ad-hoc Committees on Procedures and Performance Audit on Customer Services in Banks Please refer to our circular DBOD.No.Leg.BC.60/09.005/2003-04 dated 27th December 2003 on the captioned subject. It is presumed that the Ad-hoc Committees set up by your bank would have started looking into simplification of procedures and practices with a view to

RBI/2004/61DBOD.Leg.BC.70/09.07.005/2003-2004 February 17, 2004To All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Ad-hoc Committees on Procedures and Performance Audit on Customer Services in Banks Please refer to our circular DBOD.No.Leg.BC.60/09.005/2003-04 dated 27th December 2003 on the captioned subject. It is presumed that the Ad-hoc Committees set up by your bank would have started looking into simplification of procedures and practices with a view to

Ad-hoc Committees on Procedures and Performance Audit on Customer Services in Banks