Notifications - Consumer Education and Protection - RBI - Reserve Bank of India
Notifications
Jun 09, 2005
Procedure for settlement of claims relating to Deceased Depositors Simplified
RBI/2004-05/490 DBOD.No.Leg. BC.95 /09.07.005/2004-05 June 09, 2005To The Chairman/CEOs of All the Scheduled Commercial Banks (Excluding RRBs)Dear Sir, Settlement of claims in respect of deceased depositors – Simplification of Procedure Pursuant to the announcement in the Mid-Term Review of the Annual Policy of the RBI on November 3, 2003, the Committee on Procedure and Performance Audit on Public Services (CPPAPS) was constituted by the RBI with a view to improving t
RBI/2004-05/490 DBOD.No.Leg. BC.95 /09.07.005/2004-05 June 09, 2005To The Chairman/CEOs of All the Scheduled Commercial Banks (Excluding RRBs)Dear Sir, Settlement of claims in respect of deceased depositors – Simplification of Procedure Pursuant to the announcement in the Mid-Term Review of the Annual Policy of the RBI on November 3, 2003, the Committee on Procedure and Performance Audit on Public Services (CPPAPS) was constituted by the RBI with a view to improving t
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May 25, 2005
Public Provident Fund Scheme, 1968 - Clarifications
RBI/2004-05/480 Ref.No.CO.DT.15.02.001/H-9844-9866/2004-05 May 25, 2005 Jyeshtha 4, 1927 (S)The General Manager Government Accounts Department State Bank of India and Associate Banks Allahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra / Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / Indian Bank / Indian Overseas Bank /Punjab National Bank / Syndicate Bank / UCO Bank / Union Bank of India / United Bank of India / Dear Sir, Public
RBI/2004-05/480 Ref.No.CO.DT.15.02.001/H-9844-9866/2004-05 May 25, 2005 Jyeshtha 4, 1927 (S)The General Manager Government Accounts Department State Bank of India and Associate Banks Allahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra / Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / Indian Bank / Indian Overseas Bank /Punjab National Bank / Syndicate Bank / UCO Bank / Union Bank of India / United Bank of India / Dear Sir, Public
May 07, 2005
Indian banknotes with additional/revised security features
RBI/2004-05/458DCM (Plg.)No.G 40/10.01.00/2004-05 May 07, 2005 The Chairman/MD/ CMD/ CEO Public Sector Banks, Private Sector Banks, Foreign Banks. Madam/Dear Sir, Indian banknotes with additional/revised security features In the wake of increasing circulation of high quality counterfeit notes, particularly, Rs.100 and Rs.500 denominations, the Government of India had constituted a High Level Committee to consider strengthening the security features in our banknotes. T
RBI/2004-05/458DCM (Plg.)No.G 40/10.01.00/2004-05 May 07, 2005 The Chairman/MD/ CMD/ CEO Public Sector Banks, Private Sector Banks, Foreign Banks. Madam/Dear Sir, Indian banknotes with additional/revised security features In the wake of increasing circulation of high quality counterfeit notes, particularly, Rs.100 and Rs.500 denominations, the Government of India had constituted a High Level Committee to consider strengthening the security features in our banknotes. T
Apr 30, 2005
Section 23 of the Banking Regulation Act, 1949 - Door-step banking
RBI/2004-05/449DBOD.No.BL.BC.86/22.01.001/2004-05 April 30, 2005 Vaishakha 10, 1927 (S)All scheduled commercial banks. (Excluding RRBs) Dear Sir,Section 23 of the Banking Regulation Act, 1949 - Door-step bankingPlease refer to our circular DBOD.No.BL.BC.42/C-168-83 dated May 24, 1983 (copy enclosed), wherein banks were advised not to extend any banking facilities at the premises of their customers, without obtaining the required permission from Reserve Bank of India.
RBI/2004-05/449DBOD.No.BL.BC.86/22.01.001/2004-05 April 30, 2005 Vaishakha 10, 1927 (S)All scheduled commercial banks. (Excluding RRBs) Dear Sir,Section 23 of the Banking Regulation Act, 1949 - Door-step bankingPlease refer to our circular DBOD.No.BL.BC.42/C-168-83 dated May 24, 1983 (copy enclosed), wherein banks were advised not to extend any banking facilities at the premises of their customers, without obtaining the required permission from Reserve Bank of India.
Mar 31, 2005
Liberalised Remittance Scheme of USD 25,000 for Resident Individuals
RBI/2004-05/402 A.P. (DIR Series) Circular No. 38March 31, 2005To All Banks Authorised to Deal in Foreign ExchangeMadam/Sirs, Liberalised Remittance Scheme of USD 25,000 for Resident Individuals Attention of the Authorsed Dealers (AD) banks is invited to paragraph 3.4(iii) of A.P.(DIR Series) Circular No.64 dated February 4, 2004, in terms of which remittance under the captioned Scheme is not permitted, directly or indirectly, to countries identified by the Financial
RBI/2004-05/402 A.P. (DIR Series) Circular No. 38March 31, 2005To All Banks Authorised to Deal in Foreign ExchangeMadam/Sirs, Liberalised Remittance Scheme of USD 25,000 for Resident Individuals Attention of the Authorsed Dealers (AD) banks is invited to paragraph 3.4(iii) of A.P.(DIR Series) Circular No.64 dated February 4, 2004, in terms of which remittance under the captioned Scheme is not permitted, directly or indirectly, to countries identified by the Financial
Jan 19, 2005
Non-acceptance of coins by bank branches
RBI/2004-05/348 DCM (RMMT) No.1403/11.37.01/2004-05 January 19, 2005The Chairman & Managing Director, All Public/Private Sector banks Dear Sir, Non-acceptance of coins by bank branches Please refer to our circulars DCM (RMMT) No.404/11.37.01/2003-04 dated October 9, 2003 and DCM (RMMT) No.1181/11.37.01/2003-04 dated April 5, 2004 advising you to ensure acceptance of coins of all denominations without any restriction from the members of public etc. by your branches
RBI/2004-05/348 DCM (RMMT) No.1403/11.37.01/2004-05 January 19, 2005The Chairman & Managing Director, All Public/Private Sector banks Dear Sir, Non-acceptance of coins by bank branches Please refer to our circulars DCM (RMMT) No.404/11.37.01/2003-04 dated October 9, 2003 and DCM (RMMT) No.1181/11.37.01/2003-04 dated April 5, 2004 advising you to ensure acceptance of coins of all denominations without any restriction from the members of public etc. by your branches
Jan 15, 2005
Payment Order for Matured Relief/Savings Bonds in the name of the Joint Holder
RBI/2004-05/347 No.CO.DT.13.01.299/H.6284-6313 /2004-05 January 15, 2005The Chairman and Managing Director State Bank of India and Associate banks and 17 Nationalised banks. The Managing Director ICICI/IDBI/HDFC/UTI Bank Ltd. Stock Holding Corporation of India Ltd. Dear Sir, Relief / Savings Bonds Schemes – issue of Payment Orders / Drafts for matured Bonds We have been receiving suggestions from the Joint Holders of the captioned bonds that the Payment Orders represe
RBI/2004-05/347 No.CO.DT.13.01.299/H.6284-6313 /2004-05 January 15, 2005The Chairman and Managing Director State Bank of India and Associate banks and 17 Nationalised banks. The Managing Director ICICI/IDBI/HDFC/UTI Bank Ltd. Stock Holding Corporation of India Ltd. Dear Sir, Relief / Savings Bonds Schemes – issue of Payment Orders / Drafts for matured Bonds We have been receiving suggestions from the Joint Holders of the captioned bonds that the Payment Orders represe
Dec 27, 2004
Non-acceptance of coins
RBI / 2004-05 / 315 DCM (Plg) No.G-31/10.03.00/2004-05 December 27, 2004Currency Chest maintaining Banks as per list. Dear Sir / Madam Non-acceptance of coins Please refer to the directions/instructions advised to you in our letter DCM(RMMT) No. 1181/11.37.01/2003-04 dated April 5, 2004, on acceptance of coins by bank branches. The hardship faced by the members of public because of non-acceptance of coins by branches of commercial banks was deliberated upon, among oth
RBI / 2004-05 / 315 DCM (Plg) No.G-31/10.03.00/2004-05 December 27, 2004Currency Chest maintaining Banks as per list. Dear Sir / Madam Non-acceptance of coins Please refer to the directions/instructions advised to you in our letter DCM(RMMT) No. 1181/11.37.01/2003-04 dated April 5, 2004, on acceptance of coins by bank branches. The hardship faced by the members of public because of non-acceptance of coins by branches of commercial banks was deliberated upon, among oth
Nov 29, 2004
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
Nov 01, 2004
Minimum Tenor of Domestic Term Deposits Reduced from 15 Days to 7 Days
RBI/2004-05/268RPCD.CO.RF.BC 55/07.38.01/2004-05 November 1, 2004All State and District Central Co-operative BanksDear 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 paragraph 1(i) of our circular RPCD.No.RF.DIR.BC.77/07.38.01/2000-01 dated April 19, 2001. At present, the banks can accept term deposits of Rs.15 lakh and above for a minimum maturity period o
RBI/2004-05/268RPCD.CO.RF.BC 55/07.38.01/2004-05 November 1, 2004All State and District Central Co-operative BanksDear 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 paragraph 1(i) of our circular RPCD.No.RF.DIR.BC.77/07.38.01/2000-01 dated April 19, 2001. At present, the banks can accept term deposits of Rs.15 lakh and above for a minimum maturity period o
Oct 07, 2004
Operation of the Senior Citizens Savings Scheme, 2004 (SCSS) through Public Sector Banks
RBI/2004-05/213 CO.DT.No. 15.02.001/H.3484 - 3520 /2004-05 October 7, 2004 Ashwina 15, 1926 (S) The Chairman & Managing Director State Bank of India / Associate Banks 15 Public Sector Banks Dear Sir, Operation of the Senior Citizens Savings Scheme, 2004 (SCSS) through Public Sector Banks You may be aware that in terms of GOI Notification No.G.S.R.490 (E) dated August 2, 2004, Government have introduced the Senior Citizens Savings Scheme (SCSS), 2004 with effect fr
RBI/2004-05/213 CO.DT.No. 15.02.001/H.3484 - 3520 /2004-05 October 7, 2004 Ashwina 15, 1926 (S) The Chairman & Managing Director State Bank of India / Associate Banks 15 Public Sector Banks Dear Sir, Operation of the Senior Citizens Savings Scheme, 2004 (SCSS) through Public Sector Banks You may be aware that in terms of GOI Notification No.G.S.R.490 (E) dated August 2, 2004, Government have introduced the Senior Citizens Savings Scheme (SCSS), 2004 with effect fr
Jun 21, 2004
Guidelines on KYC Norms - Existing Accounts
RBI/2004/259DBOD.AML.BC.No.101/14.01.001/2003-04June 21, 2004The Chief Executives of all Commercial Banks(excluding RRBs)Dear Sir,Guidelines on KYC Norms - Existing Accounts Please refer to our circular DBOD.No.AML.BC.18/14.01.001/2002-03 dated August 16, 2002 on the above subject. It was advised in paragraph 3 of the above circular that in case of any omission in respect of the existing accounts, KYC procedures may be completed at the earliest. Further, vide our circ
RBI/2004/259DBOD.AML.BC.No.101/14.01.001/2003-04June 21, 2004The Chief Executives of all Commercial Banks(excluding RRBs)Dear Sir,Guidelines on KYC Norms - Existing Accounts Please refer to our circular DBOD.No.AML.BC.18/14.01.001/2002-03 dated August 16, 2002 on the above subject. It was advised in paragraph 3 of the above circular that in case of any omission in respect of the existing accounts, KYC procedures may be completed at the earliest. Further, vide our circ
May 29, 2004
Know Your Customer Guidelines-Compliance
RBI/2004/227UBD No.UBD.BPD. PCB. Cir. 48 /09.161.00/2003-04May 29, 2004 The Chief Executive Officers of all Primary (Urban) Co-operative BanksDear Sir"Know Your Customer" Guidelines-CompliancePlease refer to our circular UBD No. DS.PCB. Cir 17/13.01.00/2002-03 dated September 18, 2002 on "Know Your Customer" guidelines to be followed by urban cooperative banks while opening accounts. While complying with the above requirements, UCBs also collect a lot of additional pe
RBI/2004/227UBD No.UBD.BPD. PCB. Cir. 48 /09.161.00/2003-04May 29, 2004 The Chief Executive Officers of all Primary (Urban) Co-operative BanksDear Sir"Know Your Customer" Guidelines-CompliancePlease refer to our circular UBD No. DS.PCB. Cir 17/13.01.00/2002-03 dated September 18, 2002 on "Know Your Customer" guidelines to be followed by urban cooperative banks while opening accounts. While complying with the above requirements, UCBs also collect a lot of additional pe
Apr 17, 2004
FEMA 1999 - Current Account Transactions - Remittance for maintenance of close relatives abroad- Requests of Indian Nationals on deputation to India from Overseas Companies - A.P (DIR Series) Circular No.86
RBI/2004/ 153 A.P.(DIR Series) Circular No.86 April 17, 2004ToAll Authorised Dealers in Foreign ExchangeMadam / Sirs, FEMA 1999 – Current Account Transactions – Remittance for maintenance of close relatives abroad- Requests of Indian Nationals on deputation to India from Overseas Companies Attention of Authorised Dealers is invited to item 7 of Schedule III of Government of India Notification No.GSR.381 (E) dated May 3, 2000 as amended by the Notification No.S.O.301(E
RBI/2004/ 153 A.P.(DIR Series) Circular No.86 April 17, 2004ToAll Authorised Dealers in Foreign ExchangeMadam / Sirs, FEMA 1999 – Current Account Transactions – Remittance for maintenance of close relatives abroad- Requests of Indian Nationals on deputation to India from Overseas Companies Attention of Authorised Dealers is invited to item 7 of Schedule III of Government of India Notification No.GSR.381 (E) dated May 3, 2000 as amended by the Notification No.S.O.301(E
Apr 05, 2004
Acceptance of coins
RBI/2004/136 DCM(RMMT)No.1181/11/37.01/2003-04April 5, 2004 The Chairman & Managing Director All Public/Private Sector Banks Dear Sir Acceptance of coins We invite a reference to our letter DCM(RMMT)No.404/11.37.01/2003-04 dated October 09, 2003, requesting you to instruct your branches to accept coins of all denominations from any member of the public without any restriction. However, we still continue to receive directly as well as indirectly complaints ab
RBI/2004/136 DCM(RMMT)No.1181/11/37.01/2003-04April 5, 2004 The Chairman & Managing Director All Public/Private Sector Banks Dear Sir Acceptance of coins We invite a reference to our letter DCM(RMMT)No.404/11.37.01/2003-04 dated October 09, 2003, requesting you to instruct your branches to accept coins of all denominations from any member of the public without any restriction. However, we still continue to receive directly as well as indirectly complaints ab
Feb 27, 2004
Grant of advances against the security of Relief Bonds
RBI/2004/ 82 BPD.PCB.Cir. 36 /13.08.00/2003-04 February 27, 2004The Chief Executive Officers of all Primary (Urban) Co-operative BanksDear Sir,Grant of advances against the security of Relief BondsPlease refer to our circular UBD.No.PCB.82/DC.(13.08.00)/92-93 dated June 2, 1993 advising banks that they may sanction advances against the security of 10% Relief Bonds 1993 on the terms mentioned in paragraph 2 thereof.2. As you are aware, Government of India have from tim
RBI/2004/ 82 BPD.PCB.Cir. 36 /13.08.00/2003-04 February 27, 2004The Chief Executive Officers of all Primary (Urban) Co-operative BanksDear Sir,Grant of advances against the security of Relief BondsPlease refer to our circular UBD.No.PCB.82/DC.(13.08.00)/92-93 dated June 2, 1993 advising banks that they may sanction advances against the security of 10% Relief Bonds 1993 on the terms mentioned in paragraph 2 thereof.2. As you are aware, Government of India have from tim
Feb 05, 2004
Revised guidelines for compromise settlement of chronic Non-Performing Assets (NPAs) of public sector banks upto Rs 10 crore
February 05, 2004RBI/2004/42DBOD No. BP. BC 66 / 21.04.117/2003-2004 Chairmen and Managing Directors of all Public Sector BanksDear Sir,Revised guidelines for compromise settlement of chronic Non-Performing Assets (NPAs) of public sector banks upto Rs 10 crore Please refer to our circular DBOD No. BP.BC. 108/ 21.04.117 / 2002-2003 dated May 23, 2003 extending the time limit for processing of applications for settlement of NPAs up to Rs. 10 crore from 31st October 2003
February 05, 2004RBI/2004/42DBOD No. BP. BC 66 / 21.04.117/2003-2004 Chairmen and Managing Directors of all Public Sector BanksDear Sir,Revised guidelines for compromise settlement of chronic Non-Performing Assets (NPAs) of public sector banks upto Rs 10 crore Please refer to our circular DBOD No. BP.BC. 108/ 21.04.117 / 2002-2003 dated May 23, 2003 extending the time limit for processing of applications for settlement of NPAs up to Rs. 10 crore from 31st October 2003
Jan 29, 2004
Provision of note counting machines in the counters
January 29, 2004 RBI/ 2004/30DCM (Plg)No.874/10.36.00/2003-04 The Chairman, State Bank of IndiaManaging Directors, Associate BanksChairmen and Managing Directors of Nationalised BanksChairmen / CEOs of Private Sector Banks / Foreign Banks / Regional Rural Banks / Local Area Banks.Dear SirProvision of note counting machines in the counters.We advise that in terms of the Directive DBOD. No.Dir.BC.43/13.03.00/2001-02 dated 7th November 2001 issued by Reserve Bank of Indi
January 29, 2004 RBI/ 2004/30DCM (Plg)No.874/10.36.00/2003-04 The Chairman, State Bank of IndiaManaging Directors, Associate BanksChairmen and Managing Directors of Nationalised BanksChairmen / CEOs of Private Sector Banks / Foreign Banks / Regional Rural Banks / Local Area Banks.Dear SirProvision of note counting machines in the counters.We advise that in terms of the Directive DBOD. No.Dir.BC.43/13.03.00/2001-02 dated 7th November 2001 issued by Reserve Bank of Indi
Jan 19, 2004
Providing facilities to public for exchange of notes, coins, etc.
RBI/2004/19RBI/2004/19DCM (NE) No.310/08.07.18/2003-04January 19, 2004 The Chairman, SBI and Chairman & Managing Directors ofAll currency chest maintaining branches Dear SirProviding facilities to public for exchange of notes, coins, etc. As you are aware the Reserve Bank of India renders retail services to the public like distribution and exchange of currency and coins. Our Regional Offices have been issuing fresh/good notes and coins of all deno
RBI/2004/19RBI/2004/19DCM (NE) No.310/08.07.18/2003-04January 19, 2004 The Chairman, SBI and Chairman & Managing Directors ofAll currency chest maintaining branches Dear SirProviding facilities to public for exchange of notes, coins, etc. As you are aware the Reserve Bank of India renders retail services to the public like distribution and exchange of currency and coins. Our Regional Offices have been issuing fresh/good notes and coins of all deno
Jan 16, 2004
8% Savings (Taxable) Bonds 2003
January 16, 2004 Pausha 26, 1925Circular No. RBI / 2004 / 13Ref.DGBA.CO.DT.13.01.299/H- 3819 /2003-04The Chairman & Managing Director,SBI & Associate Banks,& 17 Nationalised Banks,UTI Bank Ltd., ICICI Bank Ltd.,HDFC Bank Ltd. IDBI Bank Ltd. &Stock Holding Corporation of India Ltd.Dear Sir, 8% Savings (Taxable) Bonds 2003 Please refer to our letter No.CO.DT.13.01.299/H-38362002-03 dated 3rd April 2003 on the captioned subject. In this connection, we adv
January 16, 2004 Pausha 26, 1925Circular No. RBI / 2004 / 13Ref.DGBA.CO.DT.13.01.299/H- 3819 /2003-04The Chairman & Managing Director,SBI & Associate Banks,& 17 Nationalised Banks,UTI Bank Ltd., ICICI Bank Ltd.,HDFC Bank Ltd. IDBI Bank Ltd. &Stock Holding Corporation of India Ltd.Dear Sir, 8% Savings (Taxable) Bonds 2003 Please refer to our letter No.CO.DT.13.01.299/H-38362002-03 dated 3rd April 2003 on the captioned subject. In this connection, we adv
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