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May 19, 2021
Prepaid Payment Instruments (PPIs) - (i) Mandating Interoperability; (ii) Increasing the Limit to ₹2 lakh for Full-KYC PPIs; and (iii) Permitting Cash Withdrawal from Full-KYC PPIs of Non-Bank PPI Issuers
RBI/2021-22/40 DPSS.CO.PD.No.S-99/02.14.006/2021-22 May 19, 2021 All Bank and Non-Bank Prepaid Payment Instrument Issuers, System Providers and System Participants Madam / Dear Sir, Prepaid Payment Instruments (PPIs) – (i) Mandating Interoperability; (ii) Increasing the Limit to ₹2 lakh for Full-KYC PPIs; and (iii) Permitting Cash Withdrawal from Full-KYC PPIs of Non-Bank PPI Issuers This has reference to paragraphs 10 and 11 of the Statement on Developmental and Regu
RBI/2021-22/40 DPSS.CO.PD.No.S-99/02.14.006/2021-22 May 19, 2021 All Bank and Non-Bank Prepaid Payment Instrument Issuers, System Providers and System Participants Madam / Dear Sir, Prepaid Payment Instruments (PPIs) – (i) Mandating Interoperability; (ii) Increasing the Limit to ₹2 lakh for Full-KYC PPIs; and (iii) Permitting Cash Withdrawal from Full-KYC PPIs of Non-Bank PPI Issuers This has reference to paragraphs 10 and 11 of the Statement on Developmental and Regu
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May 14, 2021
Sovereign Gold Bond Scheme (SGB) 2021-22- Series I/II/III/IV/V/VI
RBI/2021-22/39 IDMD.CDD.No.45187/14.04.050/2021-22 May 14, 2021 The Chairman & Managing Director All Scheduled Commercial Banks,(Excluding RRBs)Designated Post OfficesStock Holding Corporation of India Ltd. (SHCIL)National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme (SGB) 2021-22- Series I/II/III/IV/V/VI Government of India has vide its Notification No F.No 4.(5)-B (W&M)/2021 dated May 12, 2021 has a
RBI/2021-22/39 IDMD.CDD.No.45187/14.04.050/2021-22 May 14, 2021 The Chairman & Managing Director All Scheduled Commercial Banks,(Excluding RRBs)Designated Post OfficesStock Holding Corporation of India Ltd. (SHCIL)National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme (SGB) 2021-22- Series I/II/III/IV/V/VI Government of India has vide its Notification No F.No 4.(5)-B (W&M)/2021 dated May 12, 2021 has a
May 12, 2021
Sponsor Contribution to an AIF set up in Overseas Jurisdiction, including IFSCs
RBI/2021-22/38 A.P.(DIR Series) Circular No. 04 May 12, 2021 To All Category-I Authorised Dealer Banks Madam/ Sir Sponsor Contribution to an AIF set up in Overseas Jurisdiction, including IFSCs Attention of AD Category - I banks is invited to paragraph A.3.(e) and B.6 of Master Direction No.15 dated January 1, 2016, on “Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad”, as amended from time to time and Regulation 7 of the Not
RBI/2021-22/38 A.P.(DIR Series) Circular No. 04 May 12, 2021 To All Category-I Authorised Dealer Banks Madam/ Sir Sponsor Contribution to an AIF set up in Overseas Jurisdiction, including IFSCs Attention of AD Category - I banks is invited to paragraph A.3.(e) and B.6 of Master Direction No.15 dated January 1, 2016, on “Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad”, as amended from time to time and Regulation 7 of the Not
May 11, 2021
Banking Regulation Act, 1949 - Section 26A Depositor Education and Awareness Fund Scheme, 2014 - Interest rates payable on unclaimed interest bearing deposit
RBI/2021-22/37 DoR.DEA.REC.No.16/30.01.002/2021-22 May 11, 2021 The Managing Director & CEO/Chief Executive OfficersAll Scheduled Commercial Banks (including RRBs) Local Area Banks (LABs) Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks/Small Finance Banks/Payments Banks Dear Sir/Madam, Banking Regulation Act, 1949 – Section 26A Depositor Education and Awareness Fund Scheme, 2014 – Interest rates payable on unclaimed interes
RBI/2021-22/37 DoR.DEA.REC.No.16/30.01.002/2021-22 May 11, 2021 The Managing Director & CEO/Chief Executive OfficersAll Scheduled Commercial Banks (including RRBs) Local Area Banks (LABs) Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks/Small Finance Banks/Payments Banks Dear Sir/Madam, Banking Regulation Act, 1949 – Section 26A Depositor Education and Awareness Fund Scheme, 2014 – Interest rates payable on unclaimed interes
May 10, 2021
Government Agency Business Arrangement - Appointment of Scheduled Private Sector Banks as Agency Banks of Reserve Bank of India (RBI)
RBI/2021-22/36 CO.DGBA.GBD.No.S77/42.01.033/2021-22 May 10, 2021 All Scheduled Commercial Banks in India Dear Sir / Madam Government Agency Business Arrangement – Appointment of Scheduled Private Sector Banks as Agency Banks of Reserve Bank of India (RBI) Please refer to RBI Circular RBI/2011-2012/377; DGBA.GAD.No.H-5029/42.01.033/2011-12 dated January 31, 2012 on the captioned subject. 2. In this regard it is informed that the embargo put in place from September 2012
RBI/2021-22/36 CO.DGBA.GBD.No.S77/42.01.033/2021-22 May 10, 2021 All Scheduled Commercial Banks in India Dear Sir / Madam Government Agency Business Arrangement – Appointment of Scheduled Private Sector Banks as Agency Banks of Reserve Bank of India (RBI) Please refer to RBI Circular RBI/2011-2012/377; DGBA.GAD.No.H-5029/42.01.033/2011-12 dated January 31, 2012 on the captioned subject. 2. In this regard it is informed that the embargo put in place from September 2012
May 10, 2021
Amendment to the Master Direction (MD) on KYC
RBI/2021-22/35 DOR.AML.REC.No.15/14.01.001/2021-22 May 10, 2021 The Chairpersons/ CEOs of all the Regulated Entities Madam/Sir, Amendment to the Master Direction (MD) on KYC Please refer to the Master Direction (MD) on KYC dated February 25, 2016, as amended from time to time, in terms of which Regulated Entities (REs) have to undertake Customer Due Diligence (CDD) while dealing with the customers as per the process laid out therein. 2. In this regard, on a review, it
RBI/2021-22/35 DOR.AML.REC.No.15/14.01.001/2021-22 May 10, 2021 The Chairpersons/ CEOs of all the Regulated Entities Madam/Sir, Amendment to the Master Direction (MD) on KYC Please refer to the Master Direction (MD) on KYC dated February 25, 2016, as amended from time to time, in terms of which Regulated Entities (REs) have to undertake Customer Due Diligence (CDD) while dealing with the customers as per the process laid out therein. 2. In this regard, on a review, it
May 06, 2021
Exim Bank's Government of India supported Line of Credit (LoC) of USD 7.35 million to the Government of the Republic of Nicaragua
RBI/2021-2022/34 A.P. (DIR Series) Circular No.03 May 06, 2021 All Category – I Authorised Dealer Banks Madam/Sir Exim Bank's Government of India supported Line of Credit (LoC) of USD 7.35 million to the Government of the Republic of Nicaragua Export-Import Bank of India (Exim Bank) has entered into an agreement dated February 18, 2021 with the Government of the Republic of Nicaragua, for making available to the latter, Government of India supported Line of Credit (Lo
RBI/2021-2022/34 A.P. (DIR Series) Circular No.03 May 06, 2021 All Category – I Authorised Dealer Banks Madam/Sir Exim Bank's Government of India supported Line of Credit (LoC) of USD 7.35 million to the Government of the Republic of Nicaragua Export-Import Bank of India (Exim Bank) has entered into an agreement dated February 18, 2021 with the Government of the Republic of Nicaragua, for making available to the latter, Government of India supported Line of Credit (Lo
May 06, 2021
Exclusion of “Lakshmi Vilas Bank Ltd” from the Second Schedule to the Reserve Bank of India Act, 1934
RBI/2021-22/33 DoR.RET.REC.14/12.07.150/2021-22 May 06, 2021 All Banks Madam/Sir Exclusion of “Lakshmi Vilas Bank Ltd” from the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the “Lakshmi Vilas Bank Ltd” has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from November 27, 2020 vide Notification DOR.PSBD.No.1849/16.01.067/2020-21 dated December 17, 2020, which is published in the Gazette of India (Part I
RBI/2021-22/33 DoR.RET.REC.14/12.07.150/2021-22 May 06, 2021 All Banks Madam/Sir Exclusion of “Lakshmi Vilas Bank Ltd” from the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the “Lakshmi Vilas Bank Ltd” has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from November 27, 2020 vide Notification DOR.PSBD.No.1849/16.01.067/2020-21 dated December 17, 2020, which is published in the Gazette of India (Part I
May 05, 2021
Priority Sector Lending (PSL) - On-lending by Small Finance Banks (SFBs) to NBFC-MFIs
RBI/2021-22/27 FIDD.CO.Plan.BC.No.10/04.09.01/2021-22 May 5, 2021 The Chairman/ Managing Director Chief Executive Officer Small Finance Banks Dear Sir/Madam, Priority Sector Lending (PSL) - On-lending by Small Finance Banks (SFBs) to NBFC-MFIs As per extant guidelines, lending by Small Finance Banks (SFBs) to Micro-Finance Institutions (MFIs) for on-lending is not reckoned for priority sector lending (PSL) classification. In view of the fresh challenges brought on by
RBI/2021-22/27 FIDD.CO.Plan.BC.No.10/04.09.01/2021-22 May 5, 2021 The Chairman/ Managing Director Chief Executive Officer Small Finance Banks Dear Sir/Madam, Priority Sector Lending (PSL) - On-lending by Small Finance Banks (SFBs) to NBFC-MFIs As per extant guidelines, lending by Small Finance Banks (SFBs) to Micro-Finance Institutions (MFIs) for on-lending is not reckoned for priority sector lending (PSL) classification. In view of the fresh challenges brought on by
May 05, 2021
Resolution Framework 2.0 - Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs)
RBI/2021-22/32 DOR.STR.REC.12/21.04.048/2021-22 May 5, 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 2.0 – Resolution of Covid-19 related stress of Micro, Small and M
RBI/2021-22/32 DOR.STR.REC.12/21.04.048/2021-22 May 5, 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 2.0 – Resolution of Covid-19 related stress of Micro, Small and M
May 05, 2021
Resolution Framework - 2.0: Resolution of Covid-19 related stress of Individuals and Small Businesses
RBI/2021-22/31 DOR.STR.REC.11/21.04.048/2021-22 May 5, 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 – 2.0: Resolution of Covid-19 related stress of Individuals and S
RBI/2021-22/31 DOR.STR.REC.11/21.04.048/2021-22 May 5, 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 – 2.0: Resolution of Covid-19 related stress of Individuals and S
May 05, 2021
Credit to MSME Entrepreneurs
RBI/2021-22/30 DoR.RET.REC.09/12.01.001/2021-22 May 05, 2021 All Scheduled Commercial Banks Madam/Sir Credit to MSME Entrepreneurs Please refer to our circular DOR.No.Ret.BC.37/12.01.001/2020-21 dated February 5, 2021, on captioned subject. 2. In terms of the above circular, Scheduled Commercial Banks were allowed to deduct the amount equivalent to credit disbursed to new MSME borrowers from their Net Demand and Time Liabilities (NDTL) for calculation of the Cash Rese
RBI/2021-22/30 DoR.RET.REC.09/12.01.001/2021-22 May 05, 2021 All Scheduled Commercial Banks Madam/Sir Credit to MSME Entrepreneurs Please refer to our circular DOR.No.Ret.BC.37/12.01.001/2020-21 dated February 5, 2021, on captioned subject. 2. In terms of the above circular, Scheduled Commercial Banks were allowed to deduct the amount equivalent to credit disbursed to new MSME borrowers from their Net Demand and Time Liabilities (NDTL) for calculation of the Cash Rese
May 05, 2021
Periodic Updation of KYC - Restrictions on Account Operations for Non-compliance
RBI/2021-22/29 DOR. AML.REC 13/14.01.001/2021-22 May 5, 2021 The Chairpersons/ CEOs of all the Regulated Entities Madam/Sir, Periodic Updation of KYC – Restrictions on Account Operations for Non-compliance Please refer to Section 38 of the Master Direction on KYC dated February 25, 2016, in terms of which Regulated Entities (REs) have to carry out periodic updation of KYC of existing customers. Keeping in view the current COVID-19 related restrictions in various parts
RBI/2021-22/29 DOR. AML.REC 13/14.01.001/2021-22 May 5, 2021 The Chairpersons/ CEOs of all the Regulated Entities Madam/Sir, Periodic Updation of KYC – Restrictions on Account Operations for Non-compliance Please refer to Section 38 of the Master Direction on KYC dated February 25, 2016, in terms of which Regulated Entities (REs) have to carry out periodic updation of KYC of existing customers. Keeping in view the current COVID-19 related restrictions in various parts
May 05, 2021
Utilisation of Floating Provisions/Counter Cyclical Provisioning Buffer
RBI/2021-22/28 DOR.STR.REC.10/21.04.048/2021-22 May 5, 2021 All Scheduled Commercial Banks (Excluding Regional Rural Banks and Payments Banks) Dear Sir/ Madam, Utilisation of Floating Provisions/Counter Cyclical Provisioning Buffer Please refer to our circular DBOD.No.BP.BC.89/21.04.048/2005-06 dated June 22, 2006 and DBOD.No.BP.BC.68/21.04.048/2006-07 dated March 13, 2007 on creation, accounting, disclosures and utilisation of floating provisions by banks. Banks may
RBI/2021-22/28 DOR.STR.REC.10/21.04.048/2021-22 May 5, 2021 All Scheduled Commercial Banks (Excluding Regional Rural Banks and Payments Banks) Dear Sir/ Madam, Utilisation of Floating Provisions/Counter Cyclical Provisioning Buffer Please refer to our circular DBOD.No.BP.BC.89/21.04.048/2005-06 dated June 22, 2006 and DBOD.No.BP.BC.68/21.04.048/2006-07 dated March 13, 2007 on creation, accounting, disclosures and utilisation of floating provisions by banks. Banks may
Apr 29, 2021
Exim Bank's Government of India supported Line of Credit (LoC) of USD 250 million to the Government of the Republic of Mozambique
RBI/2021-2022/26 A.P. (DIR Series) Circular No.02 April 29, 2021 All Category – I Authorised Dealer Banks Madam/Sir Exim Bank's Government of India supported Line of Credit (LoC) of USD 250 million to the Government of the Republic of Mozambique Export-Import Bank of India (Exim Bank) has entered into an agreement dated August 03, 2020 with the Government of the Republic of Mozambique, for making available to the latter, Government of India supported Line of Credit (L
RBI/2021-2022/26 A.P. (DIR Series) Circular No.02 April 29, 2021 All Category – I Authorised Dealer Banks Madam/Sir Exim Bank's Government of India supported Line of Credit (LoC) of USD 250 million to the Government of the Republic of Mozambique Export-Import Bank of India (Exim Bank) has entered into an agreement dated August 03, 2020 with the Government of the Republic of Mozambique, for making available to the latter, Government of India supported Line of Credit (L
Apr 27, 2021
Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs)
RBI/2021-22/25 Ref.No.DoS.CO.ARG/SEC.01/08.91.001/2021-22 April 27, 2021 The Chairman/Managing Director/Chief Executive Officer,All Commercial Banks (Excluding RRBs)All Primary (Urban) Co-operative Banks (UCBs)All Non-Banking Finance Companies (NBFCs) (Including Housing Finance Companies) Madam/Dear Sir, Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs) The fol
RBI/2021-22/25 Ref.No.DoS.CO.ARG/SEC.01/08.91.001/2021-22 April 27, 2021 The Chairman/Managing Director/Chief Executive Officer,All Commercial Banks (Excluding RRBs)All Primary (Urban) Co-operative Banks (UCBs)All Non-Banking Finance Companies (NBFCs) (Including Housing Finance Companies) Madam/Dear Sir, Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs) The fol
Apr 26, 2021
Corporate Governance in Banks - Appointment of Directors and Constitution of Committees of the Board
RBI/2021-22/24 DOR.GOV.REC.8/29.67.001/2021-22 April 26, 2021 To Commercial Banks (as per applicability) Madam / Sir, Corporate Governance in Banks - Appointment of Directors and Constitution of Committees of the Board A Discussion Paper on ‘Governance in Commercial Banks in India’ was issued by the Reserve Bank on June 11, 2020 to review the framework for governance in the commercial banks. Based on the feedback received, a comprehensive review of the framework has b
RBI/2021-22/24 DOR.GOV.REC.8/29.67.001/2021-22 April 26, 2021 To Commercial Banks (as per applicability) Madam / Sir, Corporate Governance in Banks - Appointment of Directors and Constitution of Committees of the Board A Discussion Paper on ‘Governance in Commercial Banks in India’ was issued by the Reserve Bank on June 11, 2020 to review the framework for governance in the commercial banks. Based on the feedback received, a comprehensive review of the framework has b
Apr 22, 2021
Declaration of dividends by banks
RBI/2021-22/23 DOR.ACC.REC.7/21.02.067/2021-22 April 22, 2021 All Commercial Banks and Cooperative Banks, Madam / Sir, Declaration of dividends by banks Please refer to our circular DOR.BP.BC.No.29/21.02.067/2020-21 dated December 4, 2020, and other associated circulars on the captioned subject. 2. In view of the continuing uncertainty caused by the ongoing second wave of COVID-19 in the country, it is crucial that banks remain resilient and proactively raise and cons
RBI/2021-22/23 DOR.ACC.REC.7/21.02.067/2021-22 April 22, 2021 All Commercial Banks and Cooperative Banks, Madam / Sir, Declaration of dividends by banks Please refer to our circular DOR.BP.BC.No.29/21.02.067/2020-21 dated December 4, 2020, and other associated circulars on the captioned subject. 2. In view of the continuing uncertainty caused by the ongoing second wave of COVID-19 in the country, it is crucial that banks remain resilient and proactively raise and cons
Apr 20, 2021
Formation of new district in the State of Tamil Nadu - Assignment of Lead Bank Responsibility
RBI/2021-22/22 FIDD.CO.LBS.BC.No.09/02.08.001/2021-22 April 20, 2021 The Chairmen / Managing Directors & Chief Executive Officers All Lead Banks Madam/ Dear Sir, Formation of new district in the State of Tamil Nadu – Assignment of Lead Bank Responsibility The Government of Tamil Nadu vide Gazette Notifications G.O.Ms. No.797 dated December 28, 2020 had notified the formation of a new district in the State of Tamil Nadu. It has been decided to assign the lead bank
RBI/2021-22/22 FIDD.CO.LBS.BC.No.09/02.08.001/2021-22 April 20, 2021 The Chairmen / Managing Directors & Chief Executive Officers All Lead Banks Madam/ Dear Sir, Formation of new district in the State of Tamil Nadu – Assignment of Lead Bank Responsibility The Government of Tamil Nadu vide Gazette Notifications G.O.Ms. No.797 dated December 28, 2020 had notified the formation of a new district in the State of Tamil Nadu. It has been decided to assign the lead bank
Apr 12, 2021
Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit- Extension
RBI/2021-22/21 DOR.CRE.REC.06/04.02.001/2021-22 April 12, 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 DBR.Dir.BC.No.69/04.02.001/2019-20 dated May 13, 2020. 2. In this connection, Government of India has approved the extension of Interest Equaliza
RBI/2021-22/21 DOR.CRE.REC.06/04.02.001/2021-22 April 12, 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 DBR.Dir.BC.No.69/04.02.001/2019-20 dated May 13, 2020. 2. In this connection, Government of India has approved the extension of Interest Equaliza
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