Notifications -Regulating Co-operative Banking - RBI - Reserve Bank of India
Notifications
Jun 21, 2007
Extension of Safe Deposit Locker / Safe Custody Article Facility and Access to Safe Deposit Lockers / Return of Safe Custody Articles by banks.
RBI/2006-2007/442 UBD. CO. BPD. No. 47/12.05.001/ 2006-07 June 21 , 2007 Chief Executive Officers, All Primary (Urban) Co-operative Banks Dear Sir, Extension of Safe Deposit Locker / Safe Custody Article Facility and Access to Safe Deposit Lockers / Return of Safe Custody Articles by banks. The Committee on Procedures and Performance Audit on Public Services (CPPAPS) had made some recommendations for easy operation of lockers. The existing instructions have been revie
RBI/2006-2007/442 UBD. CO. BPD. No. 47/12.05.001/ 2006-07 June 21 , 2007 Chief Executive Officers, All Primary (Urban) Co-operative Banks Dear Sir, Extension of Safe Deposit Locker / Safe Custody Article Facility and Access to Safe Deposit Lockers / Return of Safe Custody Articles by banks. The Committee on Procedures and Performance Audit on Public Services (CPPAPS) had made some recommendations for easy operation of lockers. The existing instructions have been revie
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Jun 04, 2007
Norms for maintaining NRE/NRO accounts - UCBs
RBI/2006-2007/427UBD.PCB.Cir.No. 46/16.12.000/06-07June 4, 2007The Chief Executive Officers ofAll Primary (Urban) Co-operative BanksDear Sir/Madam,Norms for maintaining NRE/NRO accounts - UCBsPlease refer to our circular UBD.PCB.Cir.No. 21/16.12.000/06-07 dated November 27, 2006 prescribing , inter alia, the norms for eligibility for Authorized Dealer category I and II licence. 2. In continuation thereof, we advise that the eligibility norms for maintaining NRE/NRO ac
RBI/2006-2007/427UBD.PCB.Cir.No. 46/16.12.000/06-07June 4, 2007The Chief Executive Officers ofAll Primary (Urban) Co-operative BanksDear Sir/Madam,Norms for maintaining NRE/NRO accounts - UCBsPlease refer to our circular UBD.PCB.Cir.No. 21/16.12.000/06-07 dated November 27, 2006 prescribing , inter alia, the norms for eligibility for Authorized Dealer category I and II licence. 2. In continuation thereof, we advise that the eligibility norms for maintaining NRE/NRO ac
May 25, 2007
UCBs - Wire Transfers
RBI/2006-2007/415UBD. CO. BPD (PCB) No. 45 / 12.05.001/2006-07May 25 , 2007Chief Executive Officers, All Primary (Urban) Co-operative BanksDear Sir,Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT) – Wire TransfersBanks use wire transfers as an expeditious method for transferring funds between bank accounts. Wire transfers include transactions occurring within the national boundaries of a country or from
RBI/2006-2007/415UBD. CO. BPD (PCB) No. 45 / 12.05.001/2006-07May 25 , 2007Chief Executive Officers, All Primary (Urban) Co-operative BanksDear Sir,Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating of Financing of Terrorism (CFT) – Wire TransfersBanks use wire transfers as an expeditious method for transferring funds between bank accounts. Wire transfers include transactions occurring within the national boundaries of a country or from
May 18, 2007
Complaints about Excessive Interest Charged by Banks-UCBs
RBI/2006-2007/404UBD.PCB.Cir.No.44/13.04.000/06-07May 18 , 2007The Chief Executive Officers of AllPrimary( Urban) Co-operative BanksDear Sir/Madam,Complaints about Excessive Interest Charged by Banks-UCBsPlease refer to paragraph 168 of the Annual Policy Statement for the year 2007-08 (copy enclosed). 2.@@NBSP@@The Reserve Bank and Banking Ombudsmans' offices have been receiving several complaints regarding levying of excessive interest and charges on certain loans an
RBI/2006-2007/404UBD.PCB.Cir.No.44/13.04.000/06-07May 18 , 2007The Chief Executive Officers of AllPrimary( Urban) Co-operative BanksDear Sir/Madam,Complaints about Excessive Interest Charged by Banks-UCBsPlease refer to paragraph 168 of the Annual Policy Statement for the year 2007-08 (copy enclosed). 2.@@NBSP@@The Reserve Bank and Banking Ombudsmans' offices have been receiving several complaints regarding levying of excessive interest and charges on certain loans an
May 09, 2007
UCBs - Proforma for Submission of Quarterly Returns revised
RBI/2006-2007/387 UBD.CO.LS. Cir. No./ 43 /07.01.000/2006-07 May@@NBSP@@ 9, 2007 Vaishakha 7, 1929 (S) The Chief Executive Officers of All Primary (Urban ) Co-operative Banks Dear Sir / Madam Section 23 of Banking Regulation Act, 1949@@NBSP@@ (AACS) – Branch Banking Statistics-Submission of Quarterly Returns- Revision of Proformae I & II With a view to streamlining and updating the system of compilation of branch banking data, maintained by the Department of Stati
RBI/2006-2007/387 UBD.CO.LS. Cir. No./ 43 /07.01.000/2006-07 May@@NBSP@@ 9, 2007 Vaishakha 7, 1929 (S) The Chief Executive Officers of All Primary (Urban ) Co-operative Banks Dear Sir / Madam Section 23 of Banking Regulation Act, 1949@@NBSP@@ (AACS) – Branch Banking Statistics-Submission of Quarterly Returns- Revision of Proformae I & II With a view to streamlining and updating the system of compilation of branch banking data, maintained by the Department of Stati
May 07, 2007
Undertaking Insurance business-UCBs
RBI/2006-2007/376 UBD.PCB.Cir.No. 42 /09.11.200/06-07May 7, 2007.The Chief Executive Officer of AllPrimary (Urban) Co-operatives Banks.Dear Sir/MadamAnnual Policy Statement for the Year 2007-08 -Undertaking Insurance business-UCBs.Please refer to para 211 of the Annual Policy Statement 2007-08 (copy enclosed).2. In terms of our circular UBD.BPD.PCB.Cir.No 35/09.112.00/04-05 dated January 24, 2005, all scheduled UCBs having a minimum net worth of Rs.50 crore were permi
RBI/2006-2007/376 UBD.PCB.Cir.No. 42 /09.11.200/06-07May 7, 2007.The Chief Executive Officer of AllPrimary (Urban) Co-operatives Banks.Dear Sir/MadamAnnual Policy Statement for the Year 2007-08 -Undertaking Insurance business-UCBs.Please refer to para 211 of the Annual Policy Statement 2007-08 (copy enclosed).2. In terms of our circular UBD.BPD.PCB.Cir.No 35/09.112.00/04-05 dated January 24, 2005, all scheduled UCBs having a minimum net worth of Rs.50 crore were permi
May 04, 2007
RBI asks UCBs not to deal with 918 defaulted companies following Patna High Court Order
RBI/2006-2007/374UBD. CO. BPD. (PCB). No. 41/12.05.001 /2006-07May 4, 2007CEOs of AllPrimary (Urban) Co-operative BanksDear Sir / MadamIn the High Court of Judicature at Patna –CWJC No. 13422 of 2006 –Council for the Protection of Public Rights and welfarevs. Union of India and Others – RegardingWe have to advise you that the Hon'ble Patna High Court vide its order dated 10 April 2007 in the captioned matter has directed the Reserve Bank of India to direct all the ban
RBI/2006-2007/374UBD. CO. BPD. (PCB). No. 41/12.05.001 /2006-07May 4, 2007CEOs of AllPrimary (Urban) Co-operative BanksDear Sir / MadamIn the High Court of Judicature at Patna –CWJC No. 13422 of 2006 –Council for the Protection of Public Rights and welfarevs. Union of India and Others – RegardingWe have to advise you that the Hon'ble Patna High Court vide its order dated 10 April 2007 in the captioned matter has directed the Reserve Bank of India to direct all the ban
May 04, 2007
Risk Weight on Housing Loans - UCBs
RBI/2006-2007/373 UBD. PCB.Cir No. 40/ 13.05.000/ 2006-07May 4, 2007The Chief Executive Officers ofAll Primary (Urban) Co-operative Banks Dear Sir/MadamAnnual Policy Statement for the Year 2007-08Residential Housing Loans: Reduction of Risk Weight-UCBs Please refer to para 184 of the Annual Policy Statement for the year 2007-08 (copy enclosed).2. In terms of our circular UBD.PCB.Cir.33/09.116.00/04-05 dated January 5, 2005 the risk weights on housing loans to individu
RBI/2006-2007/373 UBD. PCB.Cir No. 40/ 13.05.000/ 2006-07May 4, 2007The Chief Executive Officers ofAll Primary (Urban) Co-operative Banks Dear Sir/MadamAnnual Policy Statement for the Year 2007-08Residential Housing Loans: Reduction of Risk Weight-UCBs Please refer to para 184 of the Annual Policy Statement for the year 2007-08 (copy enclosed).2. In terms of our circular UBD.PCB.Cir.33/09.116.00/04-05 dated January 5, 2005 the risk weights on housing loans to individu
Apr 30, 2007
Loans Extended against Gold and Silver Ornaments- Reduction of Risk Weight-UCBs
RBI/2006-2007/362 UBD (PCB).Cir.No.39 /13.05.000/06-07 April 30, 2007. The Chief Executives of All Primary( Urban) Cooperative Banks Dear Sir/Madam, Annual Policy Statement for the Year 2007-08- Loans Extended against Gold and Silver Ornaments- Reduction of Risk Weight-UCBs Please refer paragraph 151 of the Annual Policy Statement for the year 2007-08. (Copy enclosed). 2. In terms of our @@NBSP@@circular UBD.PCB.Cir.33/09.116.00/04-05 dated January 5, 2005, the risk w
RBI/2006-2007/362 UBD (PCB).Cir.No.39 /13.05.000/06-07 April 30, 2007. The Chief Executives of All Primary( Urban) Cooperative Banks Dear Sir/Madam, Annual Policy Statement for the Year 2007-08- Loans Extended against Gold and Silver Ornaments- Reduction of Risk Weight-UCBs Please refer paragraph 151 of the Annual Policy Statement for the year 2007-08. (Copy enclosed). 2. In terms of our @@NBSP@@circular UBD.PCB.Cir.33/09.116.00/04-05 dated January 5, 2005, the risk w
Apr 30, 2007
Income recognition, asset classification and provisioning norms-UCBs
RBI/2006-2007/361 UBD. PCB.Cir No. 38/ 09.14.000/ 2006-07 April 30, 2007 The Chief Executive Officers of All Primary (Urban) Co-operative Banks Dear Sir/Madam Annual Policy Statement for the year 2007-08- Income recognition, asset classification @@NBSP@@and provisioning norms-UCBs Please refer to paragraph 210 of the Annual Policy Statement for the year 2007-08 (copy enclosed). 2. @@NBSP@@In terms of our circular UBD.PCB.Cir.21 /12.05.05/2004-05 dated September 27, 20
RBI/2006-2007/361 UBD. PCB.Cir No. 38/ 09.14.000/ 2006-07 April 30, 2007 The Chief Executive Officers of All Primary (Urban) Co-operative Banks Dear Sir/Madam Annual Policy Statement for the year 2007-08- Income recognition, asset classification @@NBSP@@and provisioning norms-UCBs Please refer to paragraph 210 of the Annual Policy Statement for the year 2007-08 (copy enclosed). 2. @@NBSP@@In terms of our circular UBD.PCB.Cir.21 /12.05.05/2004-05 dated September 27, 20
Apr 26, 2007
Interest Rates on NRE Deposits - UCBs
RBI/2006-2007/354UBD (PCB) CO BPD Cir No: 37/13.01.000/2006-07April 26, 2007Chief Executive Officer ofAll Primary (urban) Cooperative Banks Dear Sir/Madam,Interest Rates on Non-Resident (External) Rupee (NRE) Deposits - UCBsPlease refer to paragraphs 114 and 116 of the Annual Policy Statement for the year 2007-08 announced by Governor on April 24, 2007 (copy of the paragraphs enclosed).2. Interest Rate on Non-Resident (External) Rupee (NRE) DepositsPlease refer to par
RBI/2006-2007/354UBD (PCB) CO BPD Cir No: 37/13.01.000/2006-07April 26, 2007Chief Executive Officer ofAll Primary (urban) Cooperative Banks Dear Sir/Madam,Interest Rates on Non-Resident (External) Rupee (NRE) Deposits - UCBsPlease refer to paragraphs 114 and 116 of the Annual Policy Statement for the year 2007-08 announced by Governor on April 24, 2007 (copy of the paragraphs enclosed).2. Interest Rate on Non-Resident (External) Rupee (NRE) DepositsPlease refer to par
Apr 25, 2007
Maintenance of CRR - UCBs
RBI/2006-2007/348Ref: UBD (PCB).No./7/12.03.000/2006-07April 25, 2007The Chief Executive Officers ofAll Scheduled Primary (Urban) Co-operative BanksDear Sir,Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR) Please refer to our Circulars RBI/2006-2007/271 UBD(PCB)No3/12.03.000/2006-07 dated March 01, 2007 and RBI/2006-2007/311 UBD (PCB) Cir. No.5/12.03.000/2006-07 dated April 05, 2007 on the captioned subject. Government of India
RBI/2006-2007/348Ref: UBD (PCB).No./7/12.03.000/2006-07April 25, 2007The Chief Executive Officers ofAll Scheduled Primary (Urban) Co-operative BanksDear Sir,Section 42(1) of Reserve Bank of India Act, 1934-Maintenance of Cash Reserve Ratio (CRR) Please refer to our Circulars RBI/2006-2007/271 UBD(PCB)No3/12.03.000/2006-07 dated March 01, 2007 and RBI/2006-2007/311 UBD (PCB) Cir. No.5/12.03.000/2006-07 dated April 05, 2007 on the captioned subject. Government of India
Apr 25, 2007
Maintenance of CRR on Exempted Categories - UCBs
RBI/2006-2007/347Ref: UBD (PCB) Cir.No./6/12.03.000/2006-07April 25, 2007The Chief Executive Officers ofAll Scheduled Primary (Urban) Co-operative BanksDear Sir/Madam,Maintenance of Cash Reserve Ratio (CRR) on Exempted CategoriesPlease refer to our Circular RBI/2006-07/272 UBD (PCB) Cir. No. 4/12.03.000/2006-07 dated March 01, 2007 on the captioned subject. Consequent upon the notification of Section 3 of the Reserve Bank of India (Amendment) Act, 2006, as coming into
RBI/2006-2007/347Ref: UBD (PCB) Cir.No./6/12.03.000/2006-07April 25, 2007The Chief Executive Officers ofAll Scheduled Primary (Urban) Co-operative BanksDear Sir/Madam,Maintenance of Cash Reserve Ratio (CRR) on Exempted CategoriesPlease refer to our Circular RBI/2006-07/272 UBD (PCB) Cir. No. 4/12.03.000/2006-07 dated March 01, 2007 on the captioned subject. Consequent upon the notification of Section 3 of the Reserve Bank of India (Amendment) Act, 2006, as coming into
Apr 19, 2007
Nomination Facility in Single Deposit Accounts - UCBs
RBI/2006-2007/330UBD.CO.BPD.Cir No: 36 /13.01.000/2006-0 April 19, 2007 ToThe Chief Executive Officers ofPrimary (Urban) Cooperative BanksDear Sir,Nomination Facility in Single Deposit Accounts - UCBs Please refer to Para 9 of our Circular UBD.BPD.Cir No: 4/13.01.00/2005-06 dated July 14, 2005 on the above subject wherein banks were advised to give wide publicity and provide guidance to deposit account holders on the benefits of nomination facility and the survivorshi
RBI/2006-2007/330UBD.CO.BPD.Cir No: 36 /13.01.000/2006-0 April 19, 2007 ToThe Chief Executive Officers ofPrimary (Urban) Cooperative BanksDear Sir,Nomination Facility in Single Deposit Accounts - UCBs Please refer to Para 9 of our Circular UBD.BPD.Cir No: 4/13.01.00/2005-06 dated July 14, 2005 on the above subject wherein banks were advised to give wide publicity and provide guidance to deposit account holders on the benefits of nomination facility and the survivorshi
Apr 18, 2007
Credit flow to Micro, Small and Medium Enterprises Sector-UCBs
RBI/2006-2007/329 UBD. PCB.Cir.No 35 /09.09.001/06-07April 18, 2007The Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir/Madam,Credit flow to Micro, Small and Medium Enterprises Sector-UCBsPlease refer to Paragraph No.2 of our circular UBD.BPD.Cir.No.36/09.09.001/05-06 dated March 9, 2006 wherein the definition of Small and Medium Enterprise had been defined as under :'@@NBSP@@At present, a small scale industrial unit is an undertaking in which i
RBI/2006-2007/329 UBD. PCB.Cir.No 35 /09.09.001/06-07April 18, 2007The Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir/Madam,Credit flow to Micro, Small and Medium Enterprises Sector-UCBsPlease refer to Paragraph No.2 of our circular UBD.BPD.Cir.No.36/09.09.001/05-06 dated March 9, 2006 wherein the definition of Small and Medium Enterprise had been defined as under :'@@NBSP@@At present, a small scale industrial unit is an undertaking in which i
Apr 17, 2007
Rounding off cheques to the nearest rupee - UCBs
RBI.No.2006-2007/324 UBD. CO. BPD. No. 34 /12.05.001/ 2006-07 April 17, 2007 All Primary (Urban) Co-operative Banks Dear Sirs, Rounding off cheques to the nearest rupee - UCBs Please refer to our circular UBD.PCB.35/DC.V.1-90/91 dated January 16, 1991 in terms of which banks were advised that all transactions, including payment of interest on deposits / charging of interest on advances, should be rounded off to the nearest rupee (fraction of 50 paise and above t
RBI.No.2006-2007/324 UBD. CO. BPD. No. 34 /12.05.001/ 2006-07 April 17, 2007 All Primary (Urban) Co-operative Banks Dear Sirs, Rounding off cheques to the nearest rupee - UCBs Please refer to our circular UBD.PCB.35/DC.V.1-90/91 dated January 16, 1991 in terms of which banks were advised that all transactions, including payment of interest on deposits / charging of interest on advances, should be rounded off to the nearest rupee (fraction of 50 paise and above t
Apr 05, 2007
UCBs - Maintenance of CRR
RBI/2006-2007/311Ref: UBD (PCB).No./5 /12.03.000/2006-07April 05, 2007 The Chief Executive Officers ofAll Scheduled Primary (Urban) Co-operative BanksDear Sir,Section 42(1) of Reserve Bank of India Act, 1934- Maintenance of Cash Reserve Ratio (CRR)Please refer to our Circular UBD (PCB) Cir. No.3/12.03.000/2006-07 dated March 01, 2007 on the captioned subject. As set out in the Press Release 2006-2007/1336 dated March 30, 2007, it has been decided to increase the Cash
RBI/2006-2007/311Ref: UBD (PCB).No./5 /12.03.000/2006-07April 05, 2007 The Chief Executive Officers ofAll Scheduled Primary (Urban) Co-operative BanksDear Sir,Section 42(1) of Reserve Bank of India Act, 1934- Maintenance of Cash Reserve Ratio (CRR)Please refer to our Circular UBD (PCB) Cir. No.3/12.03.000/2006-07 dated March 01, 2007 on the captioned subject. As set out in the Press Release 2006-2007/1336 dated March 30, 2007, it has been decided to increase the Cash
Mar 16, 2007
Grant of Loans for acquisition of Kisan Vikas Patras (KVPs) - UCBs
RBI/2006-2007/290UBD. (PCB). BPD.Cir No: 33 /13.05.000/2006March 16, 2007The Chief Executive Officers ofAll Primary (urban) Co-operative BanksDear Sir/Madam,Grant of Loans for acquisition of Kisan Vikas Patras (KVPs) - UCBsWe have recently come across certain instances where banks had sanctioned loans to individuals (mostly High Networth Individuals-HNIs) for acquisition of Kisan Vikas Patras (KVPs). The HNIs were first required to bring in 10% of the total face
RBI/2006-2007/290UBD. (PCB). BPD.Cir No: 33 /13.05.000/2006March 16, 2007The Chief Executive Officers ofAll Primary (urban) Co-operative BanksDear Sir/Madam,Grant of Loans for acquisition of Kisan Vikas Patras (KVPs) - UCBsWe have recently come across certain instances where banks had sanctioned loans to individuals (mostly High Networth Individuals-HNIs) for acquisition of Kisan Vikas Patras (KVPs). The HNIs were first required to bring in 10% of the total face
Mar 12, 2007
Loans and advances to directors, relatives and firms/ concerns in which they are interested-UCBs
RBI/2006-2007/285 UBD.PCB.Cir.No. 32/13.05.000/06-07March 12, 2007The Chief Executive Officers ofAll Primary (Urban) Co-operative BanksDear Sir / Madam,Loans and advances to directors, relatives and firms/concerns in which they are interested-UCBsPlease refer to the instructions on the captioned subject contained in our circular UBD.PCB.Cir.50/13.05.00/2002-03 dated April 29, 2003 and the subsequent relaxations advised vide circular no. UBD.PCB.Cir.No.14 /13.05.000/05
RBI/2006-2007/285 UBD.PCB.Cir.No. 32/13.05.000/06-07March 12, 2007The Chief Executive Officers ofAll Primary (Urban) Co-operative BanksDear Sir / Madam,Loans and advances to directors, relatives and firms/concerns in which they are interested-UCBsPlease refer to the instructions on the captioned subject contained in our circular UBD.PCB.Cir.50/13.05.00/2002-03 dated April 29, 2003 and the subsequent relaxations advised vide circular no. UBD.PCB.Cir.No.14 /13.05.000/05
Mar 09, 2007
UCBs - Report of the Working Group to formulate a scheme for ensuring reasonableness of bank charges
RBI/2006-2007/284 UBD.@@NBSP@@ CO.@@NBSP@@ BPD.@@NBSP@@ (PCB).@@NBSP@@ No. 31/12.05.001 / 2006-07 March 9, 2007Chief Executive Officers of All Primary (Urban) Co-operative BanksDear Sir / Madam, Report of the Working Group to formulate a scheme for ensuring reasonableness of bank chargesPlease refer to our circulars UBD. BPD. PCB. Cir. 54 / 09.39.000 / 2005-06 dated May 26, 2006 and UBD.PCB.Cir.No.4 /09.39.000/06-07 dated July 24, 2006 on display of service charges by
RBI/2006-2007/284 UBD.@@NBSP@@ CO.@@NBSP@@ BPD.@@NBSP@@ (PCB).@@NBSP@@ No. 31/12.05.001 / 2006-07 March 9, 2007Chief Executive Officers of All Primary (Urban) Co-operative BanksDear Sir / Madam, Report of the Working Group to formulate a scheme for ensuring reasonableness of bank chargesPlease refer to our circulars UBD. BPD. PCB. Cir. 54 / 09.39.000 / 2005-06 dated May 26, 2006 and UBD.PCB.Cir.No.4 /09.39.000/06-07 dated July 24, 2006 on display of service charges by
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