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Notifications
Aug 18, 2020
Framework for authorisation of pan-India Umbrella Entity for Retail Payments
A. Objective To set-up pan-India umbrella entity / entities focussing on retail payment systems. Such entity shall be a Company incorporated in India under the Companies Act, 2013 and may be a ‘for-profit’ or a Section 8 Company as may be decided by it. B. Authorisation under the Payment and Settlement Systems Act, 2007 (PSS Act) The umbrella entity shall be a Company authorised by Reserve Bank of India (RBI) under Section 4 of the PSS Act, 2007. It shall be governed
A. Objective To set-up pan-India umbrella entity / entities focussing on retail payment systems. Such entity shall be a Company incorporated in India under the Companies Act, 2013 and may be a ‘for-profit’ or a Section 8 Company as may be decided by it. B. Authorisation under the Payment and Settlement Systems Act, 2007 (PSS Act) The umbrella entity shall be a Company authorised by Reserve Bank of India (RBI) under Section 4 of the PSS Act, 2007. It shall be governed
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Aug 11, 2020
Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2020
RESERVE BANK OF INDIA (Foreign Exchange Department) (Central Office) Mumbai – 400001 Notification No. FEMA 6 (R)/(2)/2020-RB August 11, 2020 Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2020 In exercise of the powers conferred by clause (ga) of sub- section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Expo
RESERVE BANK OF INDIA (Foreign Exchange Department) (Central Office) Mumbai – 400001 Notification No. FEMA 6 (R)/(2)/2020-RB August 11, 2020 Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2020 In exercise of the powers conferred by clause (ga) of sub- section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Expo
Aug 06, 2020
Offline Retail Payments using Cards / Wallets / Mobile Devices - Pilot
RBI/2020-21/22 DPSS.CO.PD.No.115/02.14.003/2020-21 August 06, 2020 The Chairman / Managing Director / Chief Executive OfficerAuthorised Payment System Operators (Banks and Non-banks) Madam / Dear Sir, Offline Retail Payments using Cards / Wallets / Mobile Devices – Pilot Please refer to the Statement on Developmental and Regulatory policies issued as part of Monetary Policy statement dated August 06, 2020 wherein it was proposed that the Reserve Bank would allow a pil
RBI/2020-21/22 DPSS.CO.PD.No.115/02.14.003/2020-21 August 06, 2020 The Chairman / Managing Director / Chief Executive OfficerAuthorised Payment System Operators (Banks and Non-banks) Madam / Dear Sir, Offline Retail Payments using Cards / Wallets / Mobile Devices – Pilot Please refer to the Statement on Developmental and Regulatory policies issued as part of Monetary Policy statement dated August 06, 2020 wherein it was proposed that the Reserve Bank would allow a pil
Aug 06, 2020
Online Dispute Resolution (ODR) System for Digital Payments
RBI/2020-21/21 DPSS.CO.PD No.116/02.12.004/2020-21 August 6, 2020 The Chairman / Managing Director / Chief Executive Officer Authorised Payment System Operators and Participants (Banks and Non-banks) Madam / Dear Sir, Online Dispute Resolution (ODR) System for Digital Payments Please refer to the Statement on Developmental and Regulatory Policies dated August 6, 2020 wherein the Reserve Bank of India (RBI) had announced introduction of Online Dispute Resolution (ODR)
RBI/2020-21/21 DPSS.CO.PD No.116/02.12.004/2020-21 August 6, 2020 The Chairman / Managing Director / Chief Executive Officer Authorised Payment System Operators and Participants (Banks and Non-banks) Madam / Dear Sir, Online Dispute Resolution (ODR) System for Digital Payments Please refer to the Statement on Developmental and Regulatory Policies dated August 6, 2020 wherein the Reserve Bank of India (RBI) had announced introduction of Online Dispute Resolution (ODR)
Aug 06, 2020
Loans against Gold Ornaments and Jewellery for Non-Agricultural End-uses
RBI/2020-21/19 DoR.No.BP.BC/6/21.04.048/2020-21 August 6, 2020 All Scheduled Commercial Banks (Including Regional Rural Banks) Madam/Dear Sir, Loans against Gold Ornaments and Jewellery for Non-Agricultural End-uses Please refer to the circulars DBOD.No.BP.BC.27/21.04.048/2014-15 July 22, 2014 and DBR.RRB.BC.No.53/31.01.001/2016-17 dated February 16, 2017. Under the extant guidelines, loans sanctioned by banks against pledge of gold ornaments and jewellery should not
RBI/2020-21/19 DoR.No.BP.BC/6/21.04.048/2020-21 August 6, 2020 All Scheduled Commercial Banks (Including Regional Rural Banks) Madam/Dear Sir, Loans against Gold Ornaments and Jewellery for Non-Agricultural End-uses Please refer to the circulars DBOD.No.BP.BC.27/21.04.048/2014-15 July 22, 2014 and DBR.RRB.BC.No.53/31.01.001/2016-17 dated February 16, 2017. Under the extant guidelines, loans sanctioned by banks against pledge of gold ornaments and jewellery should not
Jul 18, 2020
Implementation of Section 51A of UAPA, 1967 - Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Addition of one individual
RBI/2020-21/14 DOR.AML.BC.No.2/14.06.001/2020-21 July 18, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967 - Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Addition of one individual Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on April 20, 2020, in terms of which “Regulated Entities (REs) shall ensure that in
RBI/2020-21/14 DOR.AML.BC.No.2/14.06.001/2020-21 July 18, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967 - Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Addition of one individual Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on April 20, 2020, in terms of which “Regulated Entities (REs) shall ensure that in
Jul 16, 2020
Fair Practices Code for Asset Reconstruction Companies
RBI/2020-21/13 DOR.NBFC(ARC) CC. No. 9/26.03.001/2020-21 July 16, 2020 All Asset Reconstruction Companies Madam/Dear Sir, Fair Practices Code for Asset Reconstruction Companies In exercise of the powers conferred by Section 9 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, Asset Reconstruction Companies registered with the Bank are advised to adopt ‘Fair Practices Code’ so as to ensure transparency and fai
RBI/2020-21/13 DOR.NBFC(ARC) CC. No. 9/26.03.001/2020-21 July 16, 2020 All Asset Reconstruction Companies Madam/Dear Sir, Fair Practices Code for Asset Reconstruction Companies In exercise of the powers conferred by Section 9 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, Asset Reconstruction Companies registered with the Bank are advised to adopt ‘Fair Practices Code’ so as to ensure transparency and fai
Jul 02, 2020
Credit flow to Micro, Small and Medium Enterprises Sector
RBI/2020-2021/10 FIDD.MSME & NFS.BC.No.3/06.02.31/2020-21 July 2, 2020 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, Credit flow to Micro, Small and Medium Enterprises Secto
RBI/2020-2021/10 FIDD.MSME & NFS.BC.No.3/06.02.31/2020-21 July 2, 2020 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, Credit flow to Micro, Small and Medium Enterprises Secto
Jun 30, 2020
Floating Rate Savings Bonds, 2020 (Taxable)- FRSB 2020 (T) - Operational Guidelines (Updated on June 27, 2022)
RBI/2019-2020/262 IDMD.CDD.No.3155/13.01.299/2019-20 June 30, 2020 (Updated on June 27, 2022) (As per list attached) Dear Sir/Madam, Floating Rate Savings Bonds, 2020 (Taxable) - FRSB 2020 (T) - Operational Guidelines Please refer to the Government of India Notification No.F.No.4(10)-B(W&M)/2020 dated June 26, 2020 read with RBI circular IDMD.CDD.No.3145/13.01.299/ 2019-20 dated June 26, 2020 on FRSB 2020 (T). As you are aware, the bonds issued under this Scheme a
RBI/2019-2020/262 IDMD.CDD.No.3155/13.01.299/2019-20 June 30, 2020 (Updated on June 27, 2022) (As per list attached) Dear Sir/Madam, Floating Rate Savings Bonds, 2020 (Taxable) - FRSB 2020 (T) - Operational Guidelines Please refer to the Government of India Notification No.F.No.4(10)-B(W&M)/2020 dated June 26, 2020 read with RBI circular IDMD.CDD.No.3145/13.01.299/ 2019-20 dated June 26, 2020 on FRSB 2020 (T). As you are aware, the bonds issued under this Scheme a
Jun 26, 2020
Floating Rate Savings Bonds 2020 (Taxable) (Updated on June 27, 2022)
RBI/2019-2020/261 IDMD.CDD.No.3145/13.01.299/2019-20 June 26, 2020 (Updated on June 27, 2022) (As per list attached)Dear Sir/Madam, Floating Rate Savings Bonds 2020 (Taxable) Government of India has decided to launch Floating Rate Savings Bonds 2020 (Taxable) scheme, with effect from July 01, 2020 in terms of GoI Notification F.No.4(10)-B(W&M)/2020 dated June 26, 2020. The terms and conditions of the issuance of the Bonds shall be as per the above GOI Notification
RBI/2019-2020/261 IDMD.CDD.No.3145/13.01.299/2019-20 June 26, 2020 (Updated on June 27, 2022) (As per list attached)Dear Sir/Madam, Floating Rate Savings Bonds 2020 (Taxable) Government of India has decided to launch Floating Rate Savings Bonds 2020 (Taxable) scheme, with effect from July 01, 2020 in terms of GoI Notification F.No.4(10)-B(W&M)/2020 dated June 26, 2020. The terms and conditions of the issuance of the Bonds shall be as per the above GOI Notification
Jun 26, 2020
Section 24 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR) - Marginal Standing Facility (MSF)
RBI/2019-20/259 DOR.No.Ret.BC.77/12.02.001/2019-20 June 26, 2020 All Scheduled Banks (excluding Regional Rural Banks) Dear Sir / Madam Section 24 of the Banking Regulation Act, 1949 – Maintenance of Statutory Liquidity Ratio (SLR) – Marginal Standing Facility (MSF) Please refer to our circular DOR.No.Ret.BC.52/12.01.001/2019-20 dated March 27, 2020 on Marginal Standing Facility (MSF) Scheme. 2. As announced in the Statement of Developmental and Regulatory Policies dat
RBI/2019-20/259 DOR.No.Ret.BC.77/12.02.001/2019-20 June 26, 2020 All Scheduled Banks (excluding Regional Rural Banks) Dear Sir / Madam Section 24 of the Banking Regulation Act, 1949 – Maintenance of Statutory Liquidity Ratio (SLR) – Marginal Standing Facility (MSF) Please refer to our circular DOR.No.Ret.BC.52/12.01.001/2019-20 dated March 27, 2020 on Marginal Standing Facility (MSF) Scheme. 2. As announced in the Statement of Developmental and Regulatory Policies dat
Jun 26, 2020
Section 42(1) of the Reserve Bank of India Act, 1934 - Change in Minimum Daily Maintenance of the Cash Reserve Requirement
RBI/2019-20/260 DOR.No.Ret.BC.78/12.01.001/2019-20 June 26, 2020 All Scheduled Banks Dear Sir / Madam Section 42(1) of the Reserve Bank of India Act, 1934 - Change in Minimum Daily Maintenance of the Cash Reserve Requirement Please refer to our circular DOR.No.Ret.BC.51/12.01.001/2019-20 dated March 27, 2020 on the captioned subject. 2. As announced in the Statement of Developmental and Regulatory Policies of March 27, 2020, the minimum daily maintenance of the Cash R
RBI/2019-20/260 DOR.No.Ret.BC.78/12.01.001/2019-20 June 26, 2020 All Scheduled Banks Dear Sir / Madam Section 42(1) of the Reserve Bank of India Act, 1934 - Change in Minimum Daily Maintenance of the Cash Reserve Requirement Please refer to our circular DOR.No.Ret.BC.51/12.01.001/2019-20 dated March 27, 2020 on the captioned subject. 2. As announced in the Statement of Developmental and Regulatory Policies of March 27, 2020, the minimum daily maintenance of the Cash R
Jun 24, 2020
Loans Sourced by Banks and NBFCs over Digital Lending Platforms: Adherence to Fair Practices Code and Outsourcing Guidelines
RBI/2019-20/258 DOR(NBFC)(PD)CC.No.112/03.10.001/2019-20 June 24, 2020 All Scheduled Commercial Banks (excluding RRBs) All Non-Banking Financial Companies (including Housing Finance Companies) Madam/ Dear Sir, Loans Sourced by Banks and NBFCs over Digital Lending Platforms: Adherence to Fair Practices Code and Outsourcing Guidelines It has been observed that many digital platforms have emerged in the financial sector claiming to offer hassle free loans to retail indiv
RBI/2019-20/258 DOR(NBFC)(PD)CC.No.112/03.10.001/2019-20 June 24, 2020 All Scheduled Commercial Banks (excluding RRBs) All Non-Banking Financial Companies (including Housing Finance Companies) Madam/ Dear Sir, Loans Sourced by Banks and NBFCs over Digital Lending Platforms: Adherence to Fair Practices Code and Outsourcing Guidelines It has been observed that many digital platforms have emerged in the financial sector claiming to offer hassle free loans to retail indiv
Jun 22, 2020
Auction of Government of India Dated Securities
RBI/2019-20/257Ref.No.3105/IDMD/08.02.032/2019-20 June 22, 2020 All Scheduled Commercial Banks All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks/All Financial Institutions/All Primary Dealers. Dear Sir/Madam, Auction of Government of India Dated Securities Government of India has offered to sell (re-issue) three dated securities for a notified amount of ₹30,000 crore as per the following details: Sr No Security Notified Amount (in ₹ crore)
RBI/2019-20/257Ref.No.3105/IDMD/08.02.032/2019-20 June 22, 2020 All Scheduled Commercial Banks All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks/All Financial Institutions/All Primary Dealers. Dear Sir/Madam, Auction of Government of India Dated Securities Government of India has offered to sell (re-issue) three dated securities for a notified amount of ₹30,000 crore as per the following details: Sr No Security Notified Amount (in ₹ crore)
Jun 22, 2020
Increasing Instances of Payment Frauds - Enhancing Public Awareness Campaigns Through Multiple Channels
RBI/2019-20/256 DPSS.CO.OD.No.1934/06.08.005/2019-20 June 22, 2020 The Chairman / Managing Director / Chief Executive Officer Authorised Payment System Operators (banks and non-banks) / Participants of Payment Systems (banks and non-banks) Madam / Dear Sir, Increasing Instances of Payment Frauds – Enhancing Public Awareness Campaigns Through Multiple Channels As you are aware, safety and security of digital transactions are of paramount importance. Reserve Bank has be
RBI/2019-20/256 DPSS.CO.OD.No.1934/06.08.005/2019-20 June 22, 2020 The Chairman / Managing Director / Chief Executive Officer Authorised Payment System Operators (banks and non-banks) / Participants of Payment Systems (banks and non-banks) Madam / Dear Sir, Increasing Instances of Payment Frauds – Enhancing Public Awareness Campaigns Through Multiple Channels As you are aware, safety and security of digital transactions are of paramount importance. Reserve Bank has be
Jun 15, 2020
Auction of Government of India Dated Securities
RBI/2019-20/254 Ref.No.IDMD/3065/08.02.032/2019-20 June 15, 2020 All Scheduled Commercial Banks All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks/All Financial Institutions/ All Primary Dealers. Dear Sir/Madam, Auction of Government of India Dated Securities Government of India has offered to sell (issue/re-issue) four dated securities for a notified amount of ₹ 30,000 crore as per the following details: Sr No Security Notified Amount (in ₹
RBI/2019-20/254 Ref.No.IDMD/3065/08.02.032/2019-20 June 15, 2020 All Scheduled Commercial Banks All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks/All Financial Institutions/ All Primary Dealers. Dear Sir/Madam, Auction of Government of India Dated Securities Government of India has offered to sell (issue/re-issue) four dated securities for a notified amount of ₹ 30,000 crore as per the following details: Sr No Security Notified Amount (in ₹
Jun 15, 2020
Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) (Amendment) Regulations, 2020
Reserve Bank of IndiaForeign Exchange DepartmentCentral OfficeMumbai Notification No. FEMA. 395 (1)/2020-RB June 15, 2020 Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) (Amendment) Regulations, 2020 In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments to the Foreign Exchange Management (Mode of Payment and Reporti
Reserve Bank of IndiaForeign Exchange DepartmentCentral OfficeMumbai Notification No. FEMA. 395 (1)/2020-RB June 15, 2020 Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) (Amendment) Regulations, 2020 In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments to the Foreign Exchange Management (Mode of Payment and Reporti
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