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Aug 06, 2021
Prudential Norms for Off-Balance Sheet Exposures of Banks - Restructuring of derivative contracts
RBI/2021-22/81 DOR.MRG.39/21.04.157/2021-22 August 06, 2021 All Banks Madam / Dear Sir, Prudential Norms for Off-Balance Sheet Exposures of Banks – Restructuring of derivative contracts Please refer to paragraph 2.2 of our circular DBOD.No.BP.BC.57/21.04.157/2008-09 dated October 13, 2008, in terms of which any change in any of the parameters of the original derivative contract would be treated as a restructuring. 2. In this context, it is clarified that change in the
RBI/2021-22/81 DOR.MRG.39/21.04.157/2021-22 August 06, 2021 All Banks Madam / Dear Sir, Prudential Norms for Off-Balance Sheet Exposures of Banks – Restructuring of derivative contracts Please refer to paragraph 2.2 of our circular DBOD.No.BP.BC.57/21.04.157/2008-09 dated October 13, 2008, in terms of which any change in any of the parameters of the original derivative contract would be treated as a restructuring. 2. In this context, it is clarified that change in the
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Aug 06, 2021
Resolution Framework for COVID-19-related Stress - Financial Parameters - Revised timelines for compliance
RBI/2021-22/80 DOR.STR.REC.38/21.04.048/2021-22 August 6, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework for COVID-19-related Stress – Financial Parameters – Revised t
RBI/2021-22/80 DOR.STR.REC.38/21.04.048/2021-22 August 6, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework for COVID-19-related Stress – Financial Parameters – Revised t
Aug 06, 2021
Export Credit in Foreign Currency - Benchmark Rate
RBI/2021-2022/79 DOR.DIR.REC.37/04.02.002/2021-22 August 6, 2021 All Scheduled Commercial Banks (excluding Regional Rural Banks)All Primary (Urban) Co-operative Banks1 All Small Finance Banks Dear Sir / Madam, Export Credit in Foreign Currency – Benchmark Rate Please refer to Master Circular DBR.No.DIR.BC.14/04.02.002/2015-16 dated July 1, 2015 on Rupee / Foreign Currency Export Credit and Customer Service to Exporters. 2. As per the extant guidelines, authorized deal
RBI/2021-2022/79 DOR.DIR.REC.37/04.02.002/2021-22 August 6, 2021 All Scheduled Commercial Banks (excluding Regional Rural Banks)All Primary (Urban) Co-operative Banks1 All Small Finance Banks Dear Sir / Madam, Export Credit in Foreign Currency – Benchmark Rate Please refer to Master Circular DBR.No.DIR.BC.14/04.02.002/2015-16 dated July 1, 2015 on Rupee / Foreign Currency Export Credit and Customer Service to Exporters. 2. As per the extant guidelines, authorized deal
Aug 05, 2021
Exim Bank's Government of India supported Line of Credit (LoC) of USD 30.00 million to the Government of the Republic of Sierra Leone
RBI/2021-2022/78 A.P. (DIR Series) Circular No.08 August 05, 2021 All Category – I Authorised Dealer Banks Madam/Sir Exim Bank's Government of India supported Line of Credit (LoC) of USD 30.00 million to the Government of the Republic of Sierra Leone Export-Import Bank of India (Exim Bank) has entered into an agreement dated October 13, 2019 with the Government of the Republic of Sierra Leone, for making available to the latter, Government of India supported Line of C
RBI/2021-2022/78 A.P. (DIR Series) Circular No.08 August 05, 2021 All Category – I Authorised Dealer Banks Madam/Sir Exim Bank's Government of India supported Line of Credit (LoC) of USD 30.00 million to the Government of the Republic of Sierra Leone Export-Import Bank of India (Exim Bank) has entered into an agreement dated October 13, 2019 with the Government of the Republic of Sierra Leone, for making available to the latter, Government of India supported Line of C
Aug 04, 2021
Guidelines for Implementation of the circular on Opening of Current Accounts by Banks
RBI/2021-22/77 DOR.CRE.REC.35/21.04.048/2021-22 August 04, 2021 To, All Scheduled Commercial Banks All Payments Banks Madam / Dear Sir, Guidelines for Implementation of the circular on Opening of Current Accounts by Banks Please refer to circulars DOR.No.BP.BC/7/21.04.048/2020-21 dated August 6, 2020, DOR.No.BP.BC.27/21.04.048/2020-21 dated November 2, 2020 and DOR.No.BP.BC.30/21.04.048/2020-21 dated December 14, 2020 on Opening of Current Accounts by Banks - Need for
RBI/2021-22/77 DOR.CRE.REC.35/21.04.048/2021-22 August 04, 2021 To, All Scheduled Commercial Banks All Payments Banks Madam / Dear Sir, Guidelines for Implementation of the circular on Opening of Current Accounts by Banks Please refer to circulars DOR.No.BP.BC/7/21.04.048/2020-21 dated August 6, 2020, DOR.No.BP.BC.27/21.04.048/2020-21 dated November 2, 2020 and DOR.No.BP.BC.30/21.04.048/2020-21 dated December 14, 2020 on Opening of Current Accounts by Banks - Need for
Aug 03, 2021
Framework for Outsourcing of Payment and Settlement-related Activities by Payment System Operators
RBI/2021-22/76 CO.DPSS.POLC.No.S-384/02.32.001/2021-2022 August 3, 2021 The Chairman / Managing Director / Chief Executive Officer All Non-Bank Payment System Operators Madam / Dear Sir, Framework for Outsourcing of Payment and Settlement-related Activities by Payment System Operators The Payment System Operators (PSOs), by virtue of services they provide and the construct of models on which they operate, largely outsource their payment and settlement-related activiti
RBI/2021-22/76 CO.DPSS.POLC.No.S-384/02.32.001/2021-2022 August 3, 2021 The Chairman / Managing Director / Chief Executive Officer All Non-Bank Payment System Operators Madam / Dear Sir, Framework for Outsourcing of Payment and Settlement-related Activities by Payment System Operators The Payment System Operators (PSOs), by virtue of services they provide and the construct of models on which they operate, largely outsource their payment and settlement-related activiti
Aug 02, 2021
Maintenance of State Government Accounts - Recovery of Interest on Excess put through/ Double claim (State Government Transactions)
RBI/2021-22/75DGBA.GBD.No.S391/42.01.011/2021-22 August 02, 2021 The Chairman and Managing Directors/ Managing Director/ CEOAll Agency Banks Dear Sir / Madam Maintenance of State Government Accounts – Recovery of Interest on Excess put through/ Double claim (State Government Transactions) Please refer to our circular RBI/2007/291 DGBA.GAD.No.H-14061/31.04.008/2006-07 dated March 21, 2007 vide which partial modifications were done in the para 5.11 of the "Memorandum of
RBI/2021-22/75DGBA.GBD.No.S391/42.01.011/2021-22 August 02, 2021 The Chairman and Managing Directors/ Managing Director/ CEOAll Agency Banks Dear Sir / Madam Maintenance of State Government Accounts – Recovery of Interest on Excess put through/ Double claim (State Government Transactions) Please refer to our circular RBI/2007/291 DGBA.GAD.No.H-14061/31.04.008/2006-07 dated March 21, 2007 vide which partial modifications were done in the para 5.11 of the "Memorandum of
Jul 29, 2021
Rating of Deposits of HFCs - Approved Credit Rating Agencies and Minimum Investment Grade Credit Rating
RBI/2021-22/74 DOR.FIN.REC.No.34/03.10.136/2021-22 July 29, 2021 All deposit taking Housing Finance Companies (HFCs) Madam/ Dear Sir, Rating of Deposits of HFCs – Approved Credit Rating Agencies and Minimum Investment Grade Credit Rating A reference is invited to Para 25.2 of Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021, wherein the names of five approved credit rating agencies and their minimum investment
RBI/2021-22/74 DOR.FIN.REC.No.34/03.10.136/2021-22 July 29, 2021 All deposit taking Housing Finance Companies (HFCs) Madam/ Dear Sir, Rating of Deposits of HFCs – Approved Credit Rating Agencies and Minimum Investment Grade Credit Rating A reference is invited to Para 25.2 of Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021, wherein the names of five approved credit rating agencies and their minimum investment
Jul 28, 2021
Access for Non-banks to Centralised Payment Systems
RBI/2021-22/73 DPSS.CO.LVPD No.S290/04.04.009/2021-22 July 28, 2021 The Chairman / Managing Director / Chief Executive Officer Authorised Non-bank Payment System Providers Madam / Dear Sir, Access for Non-banks to Centralised Payment Systems A reference is invited to Paragraph 9 of the Statement on Developmental and Regulatory Policies dated April 07, 2021 wherein it was announced that the Reserve Bank shall encourage participation of non-banks in Reserve Bank of Indi
RBI/2021-22/73 DPSS.CO.LVPD No.S290/04.04.009/2021-22 July 28, 2021 The Chairman / Managing Director / Chief Executive Officer Authorised Non-bank Payment System Providers Madam / Dear Sir, Access for Non-banks to Centralised Payment Systems A reference is invited to Paragraph 9 of the Statement on Developmental and Regulatory Policies dated April 07, 2021 wherein it was announced that the Reserve Bank shall encourage participation of non-banks in Reserve Bank of Indi
Jul 23, 2021
Loans and Advances - Regulatory Restrictions
RBI/2021-22/72 DOR.CRE.REC.No.33/13.03.00/2021-22 July 23, 2021 All Scheduled Commercial Banks (excluding RRBs) All Small Finance Banks All Local Area Banks Madam / Dear Sir, Loans and Advances – Regulatory Restrictions Please refer to paragraphs 2.2.1.2, 2.2.1.4 and paragraph 2.2.1.5 of Master Circular on Loans and Advances - Statutory and Other Restrictions dated July 01, 2015. 2. On a review, it has been decided that i) For personal loans granted to any director of
RBI/2021-22/72 DOR.CRE.REC.No.33/13.03.00/2021-22 July 23, 2021 All Scheduled Commercial Banks (excluding RRBs) All Small Finance Banks All Local Area Banks Madam / Dear Sir, Loans and Advances – Regulatory Restrictions Please refer to paragraphs 2.2.1.2, 2.2.1.4 and paragraph 2.2.1.5 of Master Circular on Loans and Advances - Statutory and Other Restrictions dated July 01, 2015. 2. On a review, it has been decided that i) For personal loans granted to any director of
Jul 14, 2021
Cassette - Swaps in ATMs
RBI/2021-22/71 DCM (Plg.) No.S39/10.25.007/2021-22 July 12, 2021 The Chairman / Managing Director & Chief Executive OfficerAll Scheduled Commercial Banks including RRBsUrban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks. Madam / Dear Sir, Cassette - Swaps in ATMs Please refer to our circular RBI/2017-18/162/DCM (Plg.) No.3641/10.25.007/2017-18 dated April 12, 2018 on the captioned subject wherein banks were advised to consider
RBI/2021-22/71 DCM (Plg.) No.S39/10.25.007/2021-22 July 12, 2021 The Chairman / Managing Director & Chief Executive OfficerAll Scheduled Commercial Banks including RRBsUrban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks. Madam / Dear Sir, Cassette - Swaps in ATMs Please refer to our circular RBI/2017-18/162/DCM (Plg.) No.3641/10.25.007/2017-18 dated April 12, 2018 on the captioned subject wherein banks were advised to consider
Jul 09, 2021
Mandatory Leave for Employees Posted in Sensitive Positions or Areas of Operation
RBI/2021-22/70 DoR.ORG.REC.31/21.06.017/2021-22 July 9, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks Dear Sir, Mandatory Leave for Employees Posted in Sensitive Positions or Areas of Operation Please refer to our circular DBR.No.BP.BC.88/21.04.048/2014-15 dated April 23, 2015, advising banks to implement a ‘Mandat
RBI/2021-22/70 DoR.ORG.REC.31/21.06.017/2021-22 July 9, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks Dear Sir, Mandatory Leave for Employees Posted in Sensitive Positions or Areas of Operation Please refer to our circular DBR.No.BP.BC.88/21.04.048/2014-15 dated April 23, 2015, advising banks to implement a ‘Mandat
Jul 08, 2021
Roadmap for LIBOR Transition
RBI/2021-22/69 CO.FMRD.DIRD.S39/14.02.001/2021-22 July 08, 2021 To The Chief Executive Officer/ Chairman/Managing Director, All Commercial and Co-operative Banks / All India Financial Institutions / Non-Banking Financial Companies including Housing Finance Companies and Standalone Primary Dealers @@NBSP@@ Madam / Dear Sir Roadmap for LIBOR Transition The Reserve Bank of India had, in August 2020, requested banks to frame a Board-approved plan, outlining an assessment
RBI/2021-22/69 CO.FMRD.DIRD.S39/14.02.001/2021-22 July 08, 2021 To The Chief Executive Officer/ Chairman/Managing Director, All Commercial and Co-operative Banks / All India Financial Institutions / Non-Banking Financial Companies including Housing Finance Companies and Standalone Primary Dealers @@NBSP@@ Madam / Dear Sir Roadmap for LIBOR Transition The Reserve Bank of India had, in August 2020, requested banks to frame a Board-approved plan, outlining an assessment
Jul 08, 2021
Inclusion of “Shivalik Small Finance Bank Limited” in the Second Schedule of the Reserve Bank of India Act, 1934
RBI/2021-22/68 DoR.RET.REC.30/12.07.150/2021-22 July 07, 2021 All Scheduled Commercial Banks Dear Sir/Madam Inclusion of “Shivalik Small Finance Bank Limited” in the Second Schedule of the Reserve Bank of India Act, 1934 We advise that “Shivalik Small Finance Bank Limited” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DoR.LIC.(Shivalik SFB).No.S159/16.13.223/2021-22 dated June 15, 2021 and published in the Gazette of
RBI/2021-22/68 DoR.RET.REC.30/12.07.150/2021-22 July 07, 2021 All Scheduled Commercial Banks Dear Sir/Madam Inclusion of “Shivalik Small Finance Bank Limited” in the Second Schedule of the Reserve Bank of India Act, 1934 We advise that “Shivalik Small Finance Bank Limited” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DoR.LIC.(Shivalik SFB).No.S159/16.13.223/2021-22 dated June 15, 2021 and published in the Gazette of
Jul 07, 2021
New Definition of Micro, Small and Medium Enterprises - Addition of Retail and Wholesale Trade
RBI/2021-2022/67 FIDD.MSME & NFS.BC.No.13/06.02.31/2021-22 July 7, 2021 The Chairman/ Managing Director/Chief Executive Officer All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks / District Central Co-operative Banks All-India Financial Institutions All Non-Banking Financial Companies Dear Sir/Madam, New Definition of Micro, Small and Medium Enterprises - A
RBI/2021-2022/67 FIDD.MSME & NFS.BC.No.13/06.02.31/2021-22 July 7, 2021 The Chairman/ Managing Director/Chief Executive Officer All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks / District Central Co-operative Banks All-India Financial Institutions All Non-Banking Financial Companies Dear Sir/Madam, New Definition of Micro, Small and Medium Enterprises - A
Jul 02, 2021
Review of Instructions on Interest on overdue domestic deposits
RBI/2021-22/66 DoR.SPE.REC.29/13.03.00/2021-2022 July 02, 2021 All Scheduled Commercial Banks (including RRBs) All Small Finance Banks All Local Area Banks All Primary (Urban) Co-operative Banks/ District Central Co-operative Banks/ State Co-operative Banks Dear Sir / Madam, Review of Instructions on Interest on overdue domestic deposits Please refer to Section 9 (b) of Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 dated March 3
RBI/2021-22/66 DoR.SPE.REC.29/13.03.00/2021-2022 July 02, 2021 All Scheduled Commercial Banks (including RRBs) All Small Finance Banks All Local Area Banks All Primary (Urban) Co-operative Banks/ District Central Co-operative Banks/ State Co-operative Banks Dear Sir / Madam, Review of Instructions on Interest on overdue domestic deposits Please refer to Section 9 (b) of Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 dated March 3
Jul 01, 2021
Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit - Extension
RBI/2021-22/65 DOR.CRE(DIR).REC.28/04.02.001/2021-22 July 1, 2021 All Scheduled Commercial Banks (excluding RRBs),Small Finance Banks, Primary (Urban) Cooperative Banks and EXIM Bank Dear Sir / Madam, Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit - Extension Please refer to the instructions issued vide circular DOR.CRE.REC.06/04.02.001/2021-22 dated April 12, 2021. 2. Government of India has approved the extension of Interest Equalization S
RBI/2021-22/65 DOR.CRE(DIR).REC.28/04.02.001/2021-22 July 1, 2021 All Scheduled Commercial Banks (excluding RRBs),Small Finance Banks, Primary (Urban) Cooperative Banks and EXIM Bank Dear Sir / Madam, Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit - Extension Please refer to the instructions issued vide circular DOR.CRE.REC.06/04.02.001/2021-22 dated April 12, 2021. 2. Government of India has approved the extension of Interest Equalization S
Jun 28, 2021
Guidelines for Managing Risk in Outsourcing of Financial Services by Co-operative Banks
RBI/2021-22/64 DOR.ORG.REC.27/21.04.158/2021-22 June 28, 2021 The Chief Executive Officer All Co-operative Banks Madam / Dear Sir, Guidelines for Managing Risk in Outsourcing of Financial Services by Co-operative Banks It is observed that the co-operative banks are increasingly using outsourcing as a means for reducing costs as well as for availing specialist expertise, where these are not available internally. 2. While it is entirely the banks’ prerogative to take a
RBI/2021-22/64 DOR.ORG.REC.27/21.04.158/2021-22 June 28, 2021 The Chief Executive Officer All Co-operative Banks Madam / Dear Sir, Guidelines for Managing Risk in Outsourcing of Financial Services by Co-operative Banks It is observed that the co-operative banks are increasingly using outsourcing as a means for reducing costs as well as for availing specialist expertise, where these are not available internally. 2. While it is entirely the banks’ prerogative to take a
Jun 25, 2021
New Definition of Micro, Small and Medium Enterprises
RBI/2021-2022/63 FIDD.MSME & NFS.BC.No.12/06.02.31/2021-22 June 25, 2021 The Chairman/ Managing Director/Chief Executive Officer All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks / District Central Co-operative Banks All-India Financial Institutions All Non-Banking Financial Companies Dear Sir/Madam, New Definition of Micro, Small and Medium Enterprises Pl
RBI/2021-2022/63 FIDD.MSME & NFS.BC.No.12/06.02.31/2021-22 June 25, 2021 The Chairman/ Managing Director/Chief Executive Officer All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks / District Central Co-operative Banks All-India Financial Institutions All Non-Banking Financial Companies Dear Sir/Madam, New Definition of Micro, Small and Medium Enterprises Pl
Jun 25, 2021
Appointment of Chief Risk Officer in Primary (Urban) Co-operative Banks
RBI/2021-2022/62 DOR.CRE(DIR).REC.26/21.04.103/2021-22 June 25, 2021 The Chief Executive Officer All Primary (Urban) Co-operative Banks Madam/ Dear Sir, Appointment of Chief Risk Officer in Primary (Urban) Co-operative Banks With increasing size and scope of business, Primary (Urban) Co-operative Banks (UCBs) are gradually getting exposed to greater degree of risks. It is, therefore, necessary that every UCB focuses its attention on putting in place appropriate risk m
RBI/2021-2022/62 DOR.CRE(DIR).REC.26/21.04.103/2021-22 June 25, 2021 The Chief Executive Officer All Primary (Urban) Co-operative Banks Madam/ Dear Sir, Appointment of Chief Risk Officer in Primary (Urban) Co-operative Banks With increasing size and scope of business, Primary (Urban) Co-operative Banks (UCBs) are gradually getting exposed to greater degree of risks. It is, therefore, necessary that every UCB focuses its attention on putting in place appropriate risk m
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