Notifications - RBI - Reserve Bank of India
Notifications
Feb 09, 2018
Levy of Penal Interest – Delayed Reporting
RBI/2017-18/130 DCM (CC) No. 2885/03.35.01/2017-18 February 9, 2018 1. The Chairman & Managing Director / Chief Executive Officer (All Banks having currency chests) 2. The Director Treasuries (State Governments) Madam / Dear Sir, Levy of Penal Interest – Delayed Reporting Please refer to our Master Direction DCM (CC) No.G-2/03.35.01/2017-18 dated October 12, 2017 on captioned subject. 2. Presently, penal interest is levied for all cases where the bank has enjoyed
RBI/2017-18/130 DCM (CC) No. 2885/03.35.01/2017-18 February 9, 2018 1. The Chairman & Managing Director / Chief Executive Officer (All Banks having currency chests) 2. The Director Treasuries (State Governments) Madam / Dear Sir, Levy of Penal Interest – Delayed Reporting Please refer to our Master Direction DCM (CC) No.G-2/03.35.01/2017-18 dated October 12, 2017 on captioned subject. 2. Presently, penal interest is levied for all cases where the bank has enjoyed
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Feb 07, 2018
Relief for MSME Borrowers registered under Goods and Services Tax (GST)
RBI/2017-18/129 DBR.No.BP.BC.100/21.04.048/2017-18 February 07, 2018 All banks and NBFCs regulated by the Reserve Bank of India Madam / Dear Sir, Relief for MSME Borrowers registered under Goods and Services Tax (GST) Presently, banks and NBFCs in India generally classify a loan account as Non-Performing Asset (NPA) based on 90 day and 120 day delinquency norms, respectively. It has been represented to us that formalisation of business through registration under GST h
RBI/2017-18/129 DBR.No.BP.BC.100/21.04.048/2017-18 February 07, 2018 All banks and NBFCs regulated by the Reserve Bank of India Madam / Dear Sir, Relief for MSME Borrowers registered under Goods and Services Tax (GST) Presently, banks and NBFCs in India generally classify a loan account as Non-Performing Asset (NPA) based on 90 day and 120 day delinquency norms, respectively. It has been represented to us that formalisation of business through registration under GST h
Feb 01, 2018
Small Saving Schemes – Payment of Agency Commission
RBI/2017-18/127 DGBA.GBD.No.1972/15.02.005/2017-18 February 01, 2018 All Agency Banks handling Small Saving Schemes Dear Sir / Madam Small Saving Schemes – Payment of Agency Commission Please refer to Government of India Notification F. No. 7/10/2014-NS dated October 10, 2017, wherein, all Public Sector Banks, ICICI Bank Ltd., Axis Bank Ltd., and HDFC Bank Ltd., were authorised to receive subscriptions under National Saving Time Deposit Scheme, 1981, National Saving (
RBI/2017-18/127 DGBA.GBD.No.1972/15.02.005/2017-18 February 01, 2018 All Agency Banks handling Small Saving Schemes Dear Sir / Madam Small Saving Schemes – Payment of Agency Commission Please refer to Government of India Notification F. No. 7/10/2014-NS dated October 10, 2017, wherein, all Public Sector Banks, ICICI Bank Ltd., Axis Bank Ltd., and HDFC Bank Ltd., were authorised to receive subscriptions under National Saving Time Deposit Scheme, 1981, National Saving (
Jan 18, 2018
Formation of new districts in the State of Assam - Assignment of Lead Bank Responsibility
RBI/2017-18/122 FIDD.CO.LBS.BC.No.2195/02.08.001/2017-18 January 18, 2018 The Chairmen & Managing Directors/ Chief Executive Officers All Lead Banks Dear Sir/Madam, Formation of new districts in the State of Assam - Assignment of Lead Bank Responsibility The Government of Assam vide Gazette Notifications dated January 25, 2016, February 26, 2016 and August 5, 2016 had notified the creation of eight new districts in the State of Assam. It has been decided to assign
RBI/2017-18/122 FIDD.CO.LBS.BC.No.2195/02.08.001/2017-18 January 18, 2018 The Chairmen & Managing Directors/ Chief Executive Officers All Lead Banks Dear Sir/Madam, Formation of new districts in the State of Assam - Assignment of Lead Bank Responsibility The Government of Assam vide Gazette Notifications dated January 25, 2016, February 26, 2016 and August 5, 2016 had notified the creation of eight new districts in the State of Assam. It has been decided to assign
Jan 11, 2018
Interest rates for Small Savings Schemes
RBI/2017-18/120 DGBA.GBD.1781/15.02.005/2017-18 January 11, 2018 All Agency Banks handling Small Saving Schemes Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GBD.954/15.02.005/2017-18 dated October 12, 2017 on the above subject. The Government of India, had vide their Office Memorandum (OM) No.F.No.01/04/2016–NS dated December 27, 2017 advised the rate of interest on various small savings schemes for the fourth quarter of the fina
RBI/2017-18/120 DGBA.GBD.1781/15.02.005/2017-18 January 11, 2018 All Agency Banks handling Small Saving Schemes Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GBD.954/15.02.005/2017-18 dated October 12, 2017 on the above subject. The Government of India, had vide their Office Memorandum (OM) No.F.No.01/04/2016–NS dated December 27, 2017 advised the rate of interest on various small savings schemes for the fourth quarter of the fina
Jan 01, 2018
Cessation of 8 percent GoI Savings (Taxable) Bonds 2003
Government of India Ministry of Finance Department of Economic Affairs Budget Division, (W&M Section) New Delhi, January 01, 2018 Notification Cessation of 8 percent GoI Savings (Taxable) Bonds 2003 No.F.4(10)-W&M/2003 : The Government of India, hereby notifies that the 8 percent GoI Savings (Taxable) Bonds, 2003 as per Notification F.4(10)-W&M/2003, dated March 21, 2003 shall cease for subscription with effect from the close of business on Tuesday, the 2n
Government of India Ministry of Finance Department of Economic Affairs Budget Division, (W&M Section) New Delhi, January 01, 2018 Notification Cessation of 8 percent GoI Savings (Taxable) Bonds 2003 No.F.4(10)-W&M/2003 : The Government of India, hereby notifies that the 8 percent GoI Savings (Taxable) Bonds, 2003 as per Notification F.4(10)-W&M/2003, dated March 21, 2003 shall cease for subscription with effect from the close of business on Tuesday, the 2n
Dec 21, 2017
Prompt implementation of Governments’ instructions by agency banks
RBI/2017-18/111 DGBA.GBD/1616/15.02.005/2017-18 December 21, 2017 All Agency Banks Dear Sir / Madam, Prompt implementation of Governments’ instructions by agency banks It is brought to our notice that some agency banks are not adhering to instructions/ notifications issued by Government (Central as well as States) promptly by stating that further communications have not been received by them from RBI. 2. In this connection, all agency banks are advised to scrupulously
RBI/2017-18/111 DGBA.GBD/1616/15.02.005/2017-18 December 21, 2017 All Agency Banks Dear Sir / Madam, Prompt implementation of Governments’ instructions by agency banks It is brought to our notice that some agency banks are not adhering to instructions/ notifications issued by Government (Central as well as States) promptly by stating that further communications have not been received by them from RBI. 2. In this connection, all agency banks are advised to scrupulously
Dec 14, 2017
Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions
RBI/2017-18/109 DCBR.BPD.(PCB/RCB).Cir.No.06/12.05.001/2017-18 December 14, 2017 The Chief Executive OfficerAll Primary (Urban) Co-operative Banks/All State Co-operative Banks/All District Central Co-operative Banks Madam / Dear Sir, Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions Please refer to our circular UBD.BSD.I/PCB/No.45/12.05.00/2001-02 dated May 30, 2002 and para 13 of circular RPCD.
RBI/2017-18/109 DCBR.BPD.(PCB/RCB).Cir.No.06/12.05.001/2017-18 December 14, 2017 The Chief Executive OfficerAll Primary (Urban) Co-operative Banks/All State Co-operative Banks/All District Central Co-operative Banks Madam / Dear Sir, Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions Please refer to our circular UBD.BSD.I/PCB/No.45/12.05.00/2001-02 dated May 30, 2002 and para 13 of circular RPCD.
Dec 07, 2017
Settlement of Agency transactions in certain cases (for Funds and Agency Commission) directly from Reserve Bank of India
RBI/2017-18/107 DGBA.GBD.No-1498/31.02.007/2017-18 December 7, 2017 The Chairman/ Managing Director/ Chief Executive Officer/ Agency Banks Dear Sir/ Madam Settlement of Agency transactions in certain cases (for Funds and Agency Commission) directly from Reserve Bank of India As per the existing arrangements in certain states, in certain cases, some agency banks are routing their agency transactions of state governments through another agency bank, that acts as an aggr
RBI/2017-18/107 DGBA.GBD.No-1498/31.02.007/2017-18 December 7, 2017 The Chairman/ Managing Director/ Chief Executive Officer/ Agency Banks Dear Sir/ Madam Settlement of Agency transactions in certain cases (for Funds and Agency Commission) directly from Reserve Bank of India As per the existing arrangements in certain states, in certain cases, some agency banks are routing their agency transactions of state governments through another agency bank, that acts as an aggr
Dec 06, 2017
Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions
RBI/2017-18/105 DPSS.CO.PD No. 1633/02.14.003/2017-18 December 06, 2017 The Chairman and Managing Director / Chief Executive OfficersAll Scheduled Commercial Banks including RRBs / Urban Co-operative Banks /State Co-operative Banks / District Central Co-operative Banks /Payment Banks and Small Finance Banks /All Card Network Providers Dear Madam / Sir, Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions Please refer to paragraph 1 of Statement
RBI/2017-18/105 DPSS.CO.PD No. 1633/02.14.003/2017-18 December 06, 2017 The Chairman and Managing Director / Chief Executive OfficersAll Scheduled Commercial Banks including RRBs / Urban Co-operative Banks /State Co-operative Banks / District Central Co-operative Banks /Payment Banks and Small Finance Banks /All Card Network Providers Dear Madam / Sir, Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions Please refer to paragraph 1 of Statement
Nov 30, 2017
Reporting of Transactions by agency banks to RBI
RBI/2017-18/103 DGBA.GBD.1472/31.02.007/2017-18 November 30, 2017 All Agency Banks Dear Sir Reporting of Transactions by agency banks to RBI It has been brought to our notice that some agency banks are reporting government transactions after considerable delay and along with the current transactions to RBI, without taking necessary authorisation from the concerned government departments. 2. As per the extant instructions, state government transactions (electronic as w
RBI/2017-18/103 DGBA.GBD.1472/31.02.007/2017-18 November 30, 2017 All Agency Banks Dear Sir Reporting of Transactions by agency banks to RBI It has been brought to our notice that some agency banks are reporting government transactions after considerable delay and along with the current transactions to RBI, without taking necessary authorisation from the concerned government departments. 2. As per the extant instructions, state government transactions (electronic as w
Nov 23, 2017
Inclusion of “Utkarsh Small Finance Bank Limited” in the Second Schedule to the Reserve Bank of India Act, 1934
RBI/2017-18/91 DBR.No.Ret.BC.97/12.07.150/2017-18 November 16, 2017 All Scheduled Commercial Banks Dear Sir, Inclusion of “Utkarsh Small Finance Bank Limited” in the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the “Utkarsh Small Finance Bank Limited” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DBR.NBD.(SFB-UMFL).No.2689/16.13.216/2017-2018 dated October 4, 2017 and published in the Gazette
RBI/2017-18/91 DBR.No.Ret.BC.97/12.07.150/2017-18 November 16, 2017 All Scheduled Commercial Banks Dear Sir, Inclusion of “Utkarsh Small Finance Bank Limited” in the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the “Utkarsh Small Finance Bank Limited” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DBR.NBD.(SFB-UMFL).No.2689/16.13.216/2017-2018 dated October 4, 2017 and published in the Gazette
Nov 23, 2017
Special Deposit Scheme (SDS)-1975 Payment of interest for calendar year 2017
RBI/2017-18/100 DGBA.GBD.No.1387/15.01.001/2017-18 November 23, 2017 The Chairman/Managing Director/Chief Executive Officer/ Agency Banks Handling the Special Deposit Scheme 1975 Dear Sir Special Deposit Scheme (SDS)-1975 Payment of interest for calendar year 2017 We want to inform that gazette notifications related to interest rates for SDS 1975 are available in Government of India website viz. egazette.nic.in which can be perused for guidance. You may please ensure
RBI/2017-18/100 DGBA.GBD.No.1387/15.01.001/2017-18 November 23, 2017 The Chairman/Managing Director/Chief Executive Officer/ Agency Banks Handling the Special Deposit Scheme 1975 Dear Sir Special Deposit Scheme (SDS)-1975 Payment of interest for calendar year 2017 We want to inform that gazette notifications related to interest rates for SDS 1975 are available in Government of India website viz. egazette.nic.in which can be perused for guidance. You may please ensure
Nov 16, 2017
Implementation of UNSCR 2356 (2017), UNSCR 2371(2017) and UNSCR 2375 (2017) pertaining to Democratic People's Republic of Korea (DPRK)
RBI/2017-18/94 DBR.AML.No.4802/14.06.056/2017-18 November 16, 2017 All Regulated Entities Dear Sir/Madam, Implementation of UNSCR 2356 (2017), UNSCR 2371(2017) and UNSCR 2375 (2017) pertaining to Democratic People's Republic of Korea (DPRK) Please find enclosed a copy of the ‘Order’ issued by Ministry of External Affairs dated October 31, 2017, published in the Gazette of India on implementation of United Nations Security Council Resolutions 2356 (2017), 2371(2017) an
RBI/2017-18/94 DBR.AML.No.4802/14.06.056/2017-18 November 16, 2017 All Regulated Entities Dear Sir/Madam, Implementation of UNSCR 2356 (2017), UNSCR 2371(2017) and UNSCR 2375 (2017) pertaining to Democratic People's Republic of Korea (DPRK) Please find enclosed a copy of the ‘Order’ issued by Ministry of External Affairs dated October 31, 2017, published in the Gazette of India on implementation of United Nations Security Council Resolutions 2356 (2017), 2371(2017) an
Nov 16, 2017
Agency Commission for GST receipt transactions
RBI/2017-18/95 DGBA.GBD.No.1324/31.02.007/2017-18 November 16, 2017 All Agency Banks Dear Sir / Madam Agency Commission for GST receipt transactions Please refer to Para 15 of our Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated July 01, 2017 related to claiming of agency commission. 2. After implementation of GST framework, it was decided to modify paragraph 15 of the captioned Master Circular. The modified paragr
RBI/2017-18/95 DGBA.GBD.No.1324/31.02.007/2017-18 November 16, 2017 All Agency Banks Dear Sir / Madam Agency Commission for GST receipt transactions Please refer to Para 15 of our Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated July 01, 2017 related to claiming of agency commission. 2. After implementation of GST framework, it was decided to modify paragraph 15 of the captioned Master Circular. The modified paragr
Nov 09, 2017
Directions on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs
RBI/2017-18/87 DNBR.PD.CC.No.090/03.10.001/2017-18 November 09, 2017 To All Non-Banking Financial Companies (NBFCs), Madam/ Sir, Directions on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs In exercise of the powers conferred under Section 45 L of the Reserve Bank of India Act, 1934, the Reserve Bank of India after being satisfied that it is necessary and expedient in the public interest so to do and with a view to put in place necess
RBI/2017-18/87 DNBR.PD.CC.No.090/03.10.001/2017-18 November 09, 2017 To All Non-Banking Financial Companies (NBFCs), Madam/ Sir, Directions on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs In exercise of the powers conferred under Section 45 L of the Reserve Bank of India Act, 1934, the Reserve Bank of India after being satisfied that it is necessary and expedient in the public interest so to do and with a view to put in place necess
Nov 09, 2017
Exclusion of “Commonwealth Bank of Australia” from the Second Schedule of the Reserve Bank of India Act, 1934
RBI/2017-18/85 DBR.No.Ret.BC.95/12.07.150/2017-18 November 09, 2017 All Scheduled Commercial Banks Dear Sir/Madam, Exclusion of “Commonwealth Bank of Australia” from the Second Schedule of the Reserve Bank of India Act, 1934 We advise that the “Commonwealth Bank of Australia” has been excluded from the Second Schedule of the Reserve Bank of India Act, 1934 vide Notification DBR.IBD.No.2223/23.13.127/ 2017-18 dated September 05, 2017, and published in the Gazette of In
RBI/2017-18/85 DBR.No.Ret.BC.95/12.07.150/2017-18 November 09, 2017 All Scheduled Commercial Banks Dear Sir/Madam, Exclusion of “Commonwealth Bank of Australia” from the Second Schedule of the Reserve Bank of India Act, 1934 We advise that the “Commonwealth Bank of Australia” has been excluded from the Second Schedule of the Reserve Bank of India Act, 1934 vide Notification DBR.IBD.No.2223/23.13.127/ 2017-18 dated September 05, 2017, and published in the Gazette of In
Nov 09, 2017
Statement on Developmental and Regulatory Policies - October 4, 2017- Banking Facility for Senior Citizens and Differently abled Persons
RBI/2017-18/89 DBR.No.Leg.BC.96/09.07.005/2017-18 November 9, 2017 All Scheduled Commercial Banks (including RRBs) All Small Finance Banks and Payments Banks Dear Sir/ Madam Statement on Developmental and Regulatory Policies - October 4, 2017-Banking Facility for Senior Citizens and Differently abled Persons Please refer to Paragraph 8 of Statement on Developmental and Regulatory Policies, released by Reserve Bank of India on October 4, 2017 as part of Fourth Bi-month
RBI/2017-18/89 DBR.No.Leg.BC.96/09.07.005/2017-18 November 9, 2017 All Scheduled Commercial Banks (including RRBs) All Small Finance Banks and Payments Banks Dear Sir/ Madam Statement on Developmental and Regulatory Policies - October 4, 2017-Banking Facility for Senior Citizens and Differently abled Persons Please refer to Paragraph 8 of Statement on Developmental and Regulatory Policies, released by Reserve Bank of India on October 4, 2017 as part of Fourth Bi-month
Nov 09, 2017
Cessation of “Commonwealth Bank of Australia” as a banking company within the meaning of sub –section (2) of Section 36 (A) of Banking Regulation Act, 1949
RBI/2017-18/84 DBR.No.Ret.BC.94/12.07.150/2017-18 November 09, 2017 All Scheduled Commercial Banks Dear Sir/Madam, Cessation of “Commonwealth Bank of Australia” as a banking company within the meaning of sub –section (2) of Section 36 (A) of Banking Regulation Act, 1949 We advise that the “Commonwealth Bank of Australia” has ceased to be a banking company within the meaning of the Banking Regulation Act, 1949 vide Notification DBR.IBD.No.2224/23.13.127/ 2017-18 dated
RBI/2017-18/84 DBR.No.Ret.BC.94/12.07.150/2017-18 November 09, 2017 All Scheduled Commercial Banks Dear Sir/Madam, Cessation of “Commonwealth Bank of Australia” as a banking company within the meaning of sub –section (2) of Section 36 (A) of Banking Regulation Act, 1949 We advise that the “Commonwealth Bank of Australia” has ceased to be a banking company within the meaning of the Banking Regulation Act, 1949 vide Notification DBR.IBD.No.2224/23.13.127/ 2017-18 dated
Nov 09, 2017
Inclusion of “Au Small Finance Bank Limited” in the Second Schedule of the Reserve Bank of India Act, 1934
RBI/2017-18/86 DBR.No.Ret.BC.93/12.07.150/2017-18 November 09, 2017 All Scheduled Commercial Banks Dear Sir/Madam, Inclusion of “Au Small Finance Bank Limited” in the Second Schedule of the Reserve Bank of India Act, 1934 We advise that the “Au Small Finance Bank Limited” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DBR.NBD.(SFB-AFL).No.2689/16.13.216/2017-18 dated September 18, 2017 and published in the Gazette of
RBI/2017-18/86 DBR.No.Ret.BC.93/12.07.150/2017-18 November 09, 2017 All Scheduled Commercial Banks Dear Sir/Madam, Inclusion of “Au Small Finance Bank Limited” in the Second Schedule of the Reserve Bank of India Act, 1934 We advise that the “Au Small Finance Bank Limited” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DBR.NBD.(SFB-AFL).No.2689/16.13.216/2017-18 dated September 18, 2017 and published in the Gazette of
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