Payment and Settlement Systems

Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)

RBI/2009-10/398DPSS CO No. 2232 / 02.27.005/2009-2010 13th April 2010 To All the Payment Systems Operators authorized under the Payment and Settlement Systems Act, 2007 Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT) Please refer to our letter DPSS.CO.AD.1320/02.27.005/2009-10 dated December 22, 2009. 2. Financial Action Task Force (FATF) has issued a further Statement on February 18, 2010 on the subject (

RBI/2009-10/398DPSS CO No. 2232 / 02.27.005/2009-2010 13th April 2010 To All the Payment Systems Operators authorized under the Payment and Settlement Systems Act, 2007 Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT) Please refer to our letter DPSS.CO.AD.1320/02.27.005/2009-10 dated December 22, 2009. 2. Financial Action Task Force (FATF) has issued a further Statement on February 18, 2010 on the subject (

Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)

Mobile Banking Transactions in India - Operative Guidelines for Banks

RBI/2009-10/273 DPSS.CO.No.1357/02.23.02/ 2009-10 December 24, 2009 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 Madam/ Dear Sir Mobile Banking Transactions in India - Operative Guidelines for Banks A reference is invited to the guidelines appended to our circular no. RBI/2008-09/208, DPSS.CO.No.619 /02.23.02/ 2008-

RBI/2009-10/273 DPSS.CO.No.1357/02.23.02/ 2009-10 December 24, 2009 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 Madam/ Dear Sir Mobile Banking Transactions in India - Operative Guidelines for Banks A reference is invited to the guidelines appended to our circular no. RBI/2008-09/208, DPSS.CO.No.619 /02.23.02/ 2008-

Mobile Banking Transactions in India - Operative Guidelines for Banks

KYC Norms/AML Standards/Combating Financing of Terrorism - Obligation of Payment System Operators

RBI/2009-10/269 DPSS.CO.AD.No./1320/02.27.005/2009-10 December 22, 2009 To All the Payment System Operators authorized under the Payment and Settlement Systems Act, 2007 Madam/Dear Sir, Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/ Combating the Financing of Terrorism (CFT) obligation of Payment System Operators under Prevention of Money Laundering Act, (PMLA), 2002, as amended by Prevention of Money Laundering (Amendment) Act, 2009 Attention o

RBI/2009-10/269 DPSS.CO.AD.No./1320/02.27.005/2009-10 December 22, 2009 To All the Payment System Operators authorized under the Payment and Settlement Systems Act, 2007 Madam/Dear Sir, Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/ Combating the Financing of Terrorism (CFT) obligation of Payment System Operators under Prevention of Money Laundering Act, (PMLA), 2002, as amended by Prevention of Money Laundering (Amendment) Act, 2009 Attention o

KYC Norms/AML Standards/Combating Financing of Terrorism - Obligation of Payment System Operators

Extension of Service Window for RTGS Transactions

RBI/2009-10/265 DPSS (CO) RTGS No. 1313/ 04.04.002 / 2009 – 2010 December 18, 2009 Chairman and Managing Director / Chief Executive Officer of all banks participating in RTGS Madam / Dear Sir, Extension of Service Window for RTGS Transactions Please refer to our previous circular RBI/2008-09/362 (DPSS CO RTGS No.1288/04.04.002/2008-2009) dated January 28, 2009 on the captioned subject. On a review of RTGS timings and the volume of business handled by RTGS on Saturdays

RBI/2009-10/265 DPSS (CO) RTGS No. 1313/ 04.04.002 / 2009 – 2010 December 18, 2009 Chairman and Managing Director / Chief Executive Officer of all banks participating in RTGS Madam / Dear Sir, Extension of Service Window for RTGS Transactions Please refer to our previous circular RBI/2008-09/362 (DPSS CO RTGS No.1288/04.04.002/2008-2009) dated January 28, 2009 on the captioned subject. On a review of RTGS timings and the volume of business handled by RTGS on Saturdays

Extension of Service Window for RTGS Transactions

System Audit of the Payment Systems operated under the PSS Act, 2007

DPSS.AD.No./ 1206/02.27.005/2009-2010 7th December, 2009 To All the entities Authorised to operate Payment Systems in India Madam/Dear Sir, System Audit of the Payment Systems operated @@NBSP@@under the PSS Act, 2007 Please refer to the Certificate of Authorisation issued to you by the Reserve Bank of India under Section 7(1) of the Payment and Settlement Systems Act, 2007, to set up and operate the Payment Systems indicated therein. 2. In order to ensure that the tec

DPSS.AD.No./ 1206/02.27.005/2009-2010 7th December, 2009 To All the entities Authorised to operate Payment Systems in India Madam/Dear Sir, System Audit of the Payment Systems operated @@NBSP@@under the PSS Act, 2007 Please refer to the Certificate of Authorisation issued to you by the Reserve Bank of India under Section 7(1) of the Payment and Settlement Systems Act, 2007, to set up and operate the Payment Systems indicated therein. 2. In order to ensure that the tec

System Audit of the Payment Systems operated under the PSS Act, 2007

RTGS System - Mandatory Beneficiary Account Number

RBI/2009-10/215 DPSS (CO) RTGS No.949/ 04.04.002 / 2009 - 2010 November 11, 2009 Chairman and Managing Director / Chief Executive Officer of all banks participating in RTGS Madam / Dear Sir, RTGS System – Mandatory Beneficiary Account Number The R41 message format in RTGS at present allows transmission of messages even if the beneficiary account number is not given. Further, messages may also flow even if the account number is given in an inappropriate field. 2. Subst

RBI/2009-10/215 DPSS (CO) RTGS No.949/ 04.04.002 / 2009 - 2010 November 11, 2009 Chairman and Managing Director / Chief Executive Officer of all banks participating in RTGS Madam / Dear Sir, RTGS System – Mandatory Beneficiary Account Number The R41 message format in RTGS at present allows transmission of messages even if the beneficiary account number is not given. Further, messages may also flow even if the account number is given in an inappropriate field. 2. Subst

RTGS System - Mandatory Beneficiary Account Number

ECS - Accuracy of Input Data/Completeness of Account Number Information in ECS Mandates/Files

RBI/2009-10/109 DPSS (CO) EPPD No. 191/04.01.01/2009-2010 July 29, 2009 The Chairman and Managing Director / Chief Executive Officer of all banks participating in ECS / National-ECS Madam / Dear Sir, Electronic Clearing Service (ECS) – Accuracy of Input Data and Completeness of Account Number Information in ECS Mandates /Files ECS was introduced during the early nineties as an efficient method for effecting bulk and repetitive transactions electronically. While ECS (C

RBI/2009-10/109 DPSS (CO) EPPD No. 191/04.01.01/2009-2010 July 29, 2009 The Chairman and Managing Director / Chief Executive Officer of all banks participating in ECS / National-ECS Madam / Dear Sir, Electronic Clearing Service (ECS) – Accuracy of Input Data and Completeness of Account Number Information in ECS Mandates /Files ECS was introduced during the early nineties as an efficient method for effecting bulk and repetitive transactions electronically. While ECS (C

ECS - Accuracy of Input Data/Completeness of Account Number Information in ECS Mandates/Files

National Electronic Clearing Service (NECS) - Optimal Usage and Expansion

RBI/2008-09/509DPSS (CO) EPPD No.2283 / 04.01.04 / 2008-2009 June 25, 2009 The Chairman and Managing Director / Chief Executive Officer of all banks participating in NECS Madam / Dear Sir, National Electronic Clearing Service (NECS) – Optimal Usage and Expansion As you are aware, National Electronic Clearing Service (NECS) was introduced during September 2008 for centralised processing of repetitive and bulk payment instructions. NECS facilitates sponsor banks to subm

RBI/2008-09/509DPSS (CO) EPPD No.2283 / 04.01.04 / 2008-2009 June 25, 2009 The Chairman and Managing Director / Chief Executive Officer of all banks participating in NECS Madam / Dear Sir, National Electronic Clearing Service (NECS) – Optimal Usage and Expansion As you are aware, National Electronic Clearing Service (NECS) was introduced during September 2008 for centralised processing of repetitive and bulk payment instructions. NECS facilitates sponsor banks to subm

National Electronic Clearing Service (NECS) - Optimal Usage and Expansion

RTGS Transactions

RBI/2008-09/499 DPSS (CO) RTGS No. 2246 / 04.04.002 / 2008 - 2009 June 16, 2009 Chairman and Managing Director / Chief Executive Officer of all banks participating in RTGS Madam / Dear Sir, RTGS Transactions As per the RTGS Business Guidelines, funds that cannot be credited to the account of the beneficiary for some reason or other, has to be sent back to the sender’s account within one hour and thirty minutes. At present, an RTGS customer transaction that is returned

RBI/2008-09/499 DPSS (CO) RTGS No. 2246 / 04.04.002 / 2008 - 2009 June 16, 2009 Chairman and Managing Director / Chief Executive Officer of all banks participating in RTGS Madam / Dear Sir, RTGS Transactions As per the RTGS Business Guidelines, funds that cannot be credited to the account of the beneficiary for some reason or other, has to be sent back to the sender’s account within one hour and thirty minutes. At present, an RTGS customer transaction that is returned

RTGS Transactions

Usage of Inter-bank window for customer transactions

RBI/2008-09/476 DPSS (CO) RTGS No.1959/04.04.002/2008-2009@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@ @@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@ May 11, 2009 Chairman and Managing Director / Chief Executive Officer of all banks participating in RTGS Dea

RBI/2008-09/476 DPSS (CO) RTGS No.1959/04.04.002/2008-2009@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@ @@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@ May 11, 2009 Chairman and Managing Director / Chief Executive Officer of all banks participating in RTGS Dea

Usage of Inter-bank window for customer transactions