Notifications - Regulating Commercial Banking - RBI - Reserve Bank of India
Notifications
Apr 17, 2004
Interest rates on Deposits under Non Resident (External) Rupee Account (NRE Accounts)
RBI/2004/151 DBOD. No. Dir. BC.76/13.01.09/2003-04 April 17, 2004 All Scheduled Commercial Banks (excluding RRBs and LABs) Dear Sir, Interest rates on Deposits under Non Resident (External) Rupee Account (NRE Accounts) Please refer to Annexures I and Annexures II to our Master Circular DBOD. Dir. BC. 11/13.03.00/2003-04 dated August 14, 2003 as amended from time to time specifying interest rates on deposits of money accepted or renewed under different ca
RBI/2004/151 DBOD. No. Dir. BC.76/13.01.09/2003-04 April 17, 2004 All Scheduled Commercial Banks (excluding RRBs and LABs) Dear Sir, Interest rates on Deposits under Non Resident (External) Rupee Account (NRE Accounts) Please refer to Annexures I and Annexures II to our Master Circular DBOD. Dir. BC. 11/13.03.00/2003-04 dated August 14, 2003 as amended from time to time specifying interest rates on deposits of money accepted or renewed under different ca
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Apr 10, 2004
Committee on Procedures and Performance Audit on Public Services - Report No. 3 - Banking Operations : Deposit Accounts and Other Facilities Relating to Individuals (Non-business)
RBI / 2004 / 140DBOD.No.Leg.BC 74/09.07.005/2003-04 April 10, 2004 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Committee on Procedures and Performance Audit on Public Services - Report No. 3 - Banking Operations : Deposit Accounts and Other Facilities Relating to Individuals (Non-business) Please refer to D.O.letter dated April 6, 2004 addressed to you by our Executive Director, Smt. Shyamala Gopinath on the above subject. The recommendations of the Comm
RBI / 2004 / 140DBOD.No.Leg.BC 74/09.07.005/2003-04 April 10, 2004 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Committee on Procedures and Performance Audit on Public Services - Report No. 3 - Banking Operations : Deposit Accounts and Other Facilities Relating to Individuals (Non-business) Please refer to D.O.letter dated April 6, 2004 addressed to you by our Executive Director, Smt. Shyamala Gopinath on the above subject. The recommendations of the Comm
Apr 02, 2004
Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - "Bank Muscat (S.A.O.G.)"
RBI/2004/133 DBOD. Ret. BC No. 73 /12.06.115/2003-04April 2, 2004 All Scheduled Commercial Banks Dear Sirs, Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - "Bank Muscat (S.A.O.G.)" We advise that the name of "Bank Muscat (S.A.O.G.)" has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from 21st February 2004, i.e. the date on which the relative notification DBOD. No IBS. 1207/ 23.13.039 /2003-
RBI/2004/133 DBOD. Ret. BC No. 73 /12.06.115/2003-04April 2, 2004 All Scheduled Commercial Banks Dear Sirs, Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - "Bank Muscat (S.A.O.G.)" We advise that the name of "Bank Muscat (S.A.O.G.)" has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from 21st February 2004, i.e. the date on which the relative notification DBOD. No IBS. 1207/ 23.13.039 /2003-
Apr 01, 2004
Offshore Banking Units (OBUs) in Special Economic Zones (SEZs)
RBI/2004/130DBOD.IBS.BC/ 72 /23.13.004/2003-04 1st April, 2004 All scheduled commercial banks (excluding RRBs and LABs) Dear Sir, Offshore Banking Units (OBUs) in Special Economic Zones (SEZs) Please refer to paragraph 2.5 of the scheme for setting up of OBUs in SEZs enclosed to circular DBOD.IBS.BC. 42/23.13.004/2002-03 dated November 11, 2002 wherein the banks have been advised, inter alia, that the sources for raising foreign currency funds by an OBU would be only
RBI/2004/130DBOD.IBS.BC/ 72 /23.13.004/2003-04 1st April, 2004 All scheduled commercial banks (excluding RRBs and LABs) Dear Sir, Offshore Banking Units (OBUs) in Special Economic Zones (SEZs) Please refer to paragraph 2.5 of the scheme for setting up of OBUs in SEZs enclosed to circular DBOD.IBS.BC. 42/23.13.004/2002-03 dated November 11, 2002 wherein the banks have been advised, inter alia, that the sources for raising foreign currency funds by an OBU would be only
Mar 31, 2004
Accounting Standard - 11 on accounting for ' The effects of changes in foreign exchange rates'
RBI/2004/127DBOD. No. BP. BC. 71/ 21.04.018/ 2003-2004 March 31, 2004 All Scheduled Commercial Banks (excluding RRBs and LABs) Dear Sir, Accounting Standard - 11 on accounting for ' The effects of changes in foreign exchange rates' Please refer to our circular DBOD. No. BP. BC. 93 / 21.04.018/ 2002- 03 dated April 8, 2003, advising banks to follow the guidelines prescribed in Circular DBOD. No. BP.BC. 68/ 21.04.018/ 96 dated June 5, 1996 (copy enclosed) for fin
RBI/2004/127DBOD. No. BP. BC. 71/ 21.04.018/ 2003-2004 March 31, 2004 All Scheduled Commercial Banks (excluding RRBs and LABs) Dear Sir, Accounting Standard - 11 on accounting for ' The effects of changes in foreign exchange rates' Please refer to our circular DBOD. No. BP. BC. 93 / 21.04.018/ 2002- 03 dated April 8, 2003, advising banks to follow the guidelines prescribed in Circular DBOD. No. BP.BC. 68/ 21.04.018/ 96 dated June 5, 1996 (copy enclosed) for fin
Mar 26, 2004
Assessment of performance of statutory auditors
RBI/2004/ 117/Ref DBS. ARS. No. BC. 08 /08:91:001/ 2003-04 March 26, 2004 The Chairman, State Bank of India / The Managing Directors, Associate Banks of SBI/ The Chairmen & Managing Directors of all nationalised Banks Dear Sir, Assessment of performance of statutory auditors As you are aware, at present public sector banks are required to forward to RBI every year a report on the performance of their statutory central and branch auditors based on certain parameter
RBI/2004/ 117/Ref DBS. ARS. No. BC. 08 /08:91:001/ 2003-04 March 26, 2004 The Chairman, State Bank of India / The Managing Directors, Associate Banks of SBI/ The Chairmen & Managing Directors of all nationalised Banks Dear Sir, Assessment of performance of statutory auditors As you are aware, at present public sector banks are required to forward to RBI every year a report on the performance of their statutory central and branch auditors based on certain parameter
Mar 17, 2004
Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2003-04
RBI/2004/97Ref.DBS.ARS.No.BC.7 / 08.92.001/ 2003-04March 17, 2004 The Chairman & Managing Director, all Nationalised Banks and The Managing Director, Associate Banks of SBI,Dear Sir, Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2003-04We advise that the audit fees and fee for other services to statutory auditors (central/branch) of public sector banks have since been revised as under, effective from the yea
RBI/2004/97Ref.DBS.ARS.No.BC.7 / 08.92.001/ 2003-04March 17, 2004 The Chairman & Managing Director, all Nationalised Banks and The Managing Director, Associate Banks of SBI,Dear Sir, Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2003-04We advise that the audit fees and fee for other services to statutory auditors (central/branch) of public sector banks have since been revised as under, effective from the yea
Mar 15, 2004
Guidelines on Implementation of Best Practices Code in Banks
March 15,2004RBI/2004/98 DBS. CO. FGV(F) No. 1306 /23.08.001/2003-04 To all scheduled commercial banks (excluding RRBs and LABs) Dear Sir, Guidelines on Implementation of Best Practices Code in Banks. Please refer to our circular DBS.FGV(F) No. 12/23.08.001/2001-2002 dated May 3, 2002, regarding implementation of the recommendations of the Committee on Legal Aspects of Bank Frauds (Mitra Committee) and the High Level CVC Group. We had, among other things, commended to
March 15,2004RBI/2004/98 DBS. CO. FGV(F) No. 1306 /23.08.001/2003-04 To all scheduled commercial banks (excluding RRBs and LABs) Dear Sir, Guidelines on Implementation of Best Practices Code in Banks. Please refer to our circular DBS.FGV(F) No. 12/23.08.001/2001-2002 dated May 3, 2002, regarding implementation of the recommendations of the Committee on Legal Aspects of Bank Frauds (Mitra Committee) and the High Level CVC Group. We had, among other things, commended to
Feb 17, 2004
Revised guidelines for compromise settlement of chronic Non Performing Assets (NPAs) up to Rs. 10 crore
RBI / 2004 / 62/REF. DBS. FID. No. C-13 / 01.02.00 / 2003-04 February 17, 2004 The CEOs of the all-India Term Lending and Refinancing Institutions (Exim Bank, IDBI, IDFC Ltd., IFCI Ltd., IIBI Ltd., NABARD, NHB, SIDBI and TFCI Ltd.) Dear Sir, Revised guidelines for compromise settlement of chronic Non Performing Assets (NPAs) up to Rs. 10 crore Please refer to our Circular DBS. FID. No. C-15 / 01.02.00 / 2002-03 dated May 30, 2003 on the above subject. In terms of para
RBI / 2004 / 62/REF. DBS. FID. No. C-13 / 01.02.00 / 2003-04 February 17, 2004 The CEOs of the all-India Term Lending and Refinancing Institutions (Exim Bank, IDBI, IDFC Ltd., IFCI Ltd., IIBI Ltd., NABARD, NHB, SIDBI and TFCI Ltd.) Dear Sir, Revised guidelines for compromise settlement of chronic Non Performing Assets (NPAs) up to Rs. 10 crore Please refer to our Circular DBS. FID. No. C-15 / 01.02.00 / 2002-03 dated May 30, 2003 on the above subject. In terms of para
Feb 17, 2004
Ad-hoc Committees on Procedures and Performance Audit on Customer Services in Banks
RBI/2004/61DBOD.Leg.BC.70/09.07.005/2003-2004 February 17, 2004To All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Ad-hoc Committees on Procedures and Performance Audit on Customer Services in Banks Please refer to our circular DBOD.No.Leg.BC.60/09.005/2003-04 dated 27th December 2003 on the captioned subject. It is presumed that the Ad-hoc Committees set up by your bank would have started looking into simplification of procedures and practices with a view to
RBI/2004/61DBOD.Leg.BC.70/09.07.005/2003-2004 February 17, 2004To All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Ad-hoc Committees on Procedures and Performance Audit on Customer Services in Banks Please refer to our circular DBOD.No.Leg.BC.60/09.005/2003-04 dated 27th December 2003 on the captioned subject. It is presumed that the Ad-hoc Committees set up by your bank would have started looking into simplification of procedures and practices with a view to
Feb 13, 2004
Interest Rates on Rupee Deposits held in Domestic, Ordinary Non-Resident (NRO) & Non-Resident (External) (NRE) Accounts
RBI/2004/56 DBOD No. Dir.BC. 69/13.03.00/2003-04 February 13, 2004 All Scheduled Commercial Banks (excluding RRBs) Dear Sir Interest Rates on Rupee Deposits held in Domestic, Ordinary Non-Resident (NRO) and Non-Resident (External) (NRE) Accounts Please refer to our Master Circular No.DBOD. Dir. BC. 11/13.03.00/2003-04 dated August 14, 2003 on the above subject. 2. With a view to harmonizing present regulations pertaining to different interest rates for various
RBI/2004/56 DBOD No. Dir.BC. 69/13.03.00/2003-04 February 13, 2004 All Scheduled Commercial Banks (excluding RRBs) Dear Sir Interest Rates on Rupee Deposits held in Domestic, Ordinary Non-Resident (NRO) and Non-Resident (External) (NRE) Accounts Please refer to our Master Circular No.DBOD. Dir. BC. 11/13.03.00/2003-04 dated August 14, 2003 on the above subject. 2. With a view to harmonizing present regulations pertaining to different interest rates for various
Feb 06, 2004
Guidelines for bank finance to assist employees to buy shares of their own companies
RBI/2004/44DBOD No. Dir.BC. 67/13.07.05/2003-04February 6, 2004All Commercial Banks(excluding RRBs) Dear Sir,Guidelines for bank finance to assist employees to buy shares of their own companiesAs per the extant instructions issued vide circular DBOD.No.Dir.BC.1/ 13.07.05/95 dated January 6, 1995, bank finance to assist employees to buy shares of their own company under the employees’ quota is restricted to Rs.50,000/- or six months’ salary of the employee, whichever i
RBI/2004/44DBOD No. Dir.BC. 67/13.07.05/2003-04February 6, 2004All Commercial Banks(excluding RRBs) Dear Sir,Guidelines for bank finance to assist employees to buy shares of their own companiesAs per the extant instructions issued vide circular DBOD.No.Dir.BC.1/ 13.07.05/95 dated January 6, 1995, bank finance to assist employees to buy shares of their own company under the employees’ quota is restricted to Rs.50,000/- or six months’ salary of the employee, whichever i
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
Feb 05, 2004
Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 -
“The Oversea - Chinese Banking Corporation Limited.”
RBI/2004/40DBOD. Ret. BC No. 65/12.06.110/2003-04 February 5, 2004 All Scheduled Commercial Banks Dear Sirs, Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - "The Oversea – Chinese Banking Corporation Limited." We advise that the name of "The Oversea – Chinese Banking Corporation Limited." has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from 27th December 2003, i.e. the date on which the relative
RBI/2004/40DBOD. Ret. BC No. 65/12.06.110/2003-04 February 5, 2004 All Scheduled Commercial Banks Dear Sirs, Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - "The Oversea – Chinese Banking Corporation Limited." We advise that the name of "The Oversea – Chinese Banking Corporation Limited." has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from 27th December 2003, i.e. the date on which the relative
Feb 03, 2004
Guidelines for acknowledgement of transfer/allotment of shares in private sector banks
RBI/2004/38DBOD.No.PSBS.BC. 64 /16.13.100/2003-04 February 3, 2004 Magh 14, 1925(Saka) All Scheduled Commercial Banks Dear Sir, Guidelines for acknowledgement of transfer/allotment of shares in private sector banks Please refer to our circulars DBOD.No.BP.BC.68/21.01.055/2001-02 dated February 16, 2002 on foreign direct investment in banking sector and DBOD.No.PSBS.BC.349/16.13.100/99-2000 dated September 21, 1999 on transfer of shares. In paragraphs 4(i) and 2 respec
RBI/2004/38DBOD.No.PSBS.BC. 64 /16.13.100/2003-04 February 3, 2004 Magh 14, 1925(Saka) All Scheduled Commercial Banks Dear Sir, Guidelines for acknowledgement of transfer/allotment of shares in private sector banks Please refer to our circulars DBOD.No.BP.BC.68/21.01.055/2001-02 dated February 16, 2002 on foreign direct investment in banking sector and DBOD.No.PSBS.BC.349/16.13.100/99-2000 dated September 21, 1999 on transfer of shares. In paragraphs 4(i) and 2 respec
Jan 14, 2004
Monitoring of large value frauds by the Board of Directors
RBI/2004.15DBS.FGV(F) No.1004/23.04.01A/2003-04 January 14, 2004The Chief ExecutivesAll Indian Commercial banksDear Sir,Monitoring of large value frauds by the Board of DirectorsPlease refer to our circular DOS No BC 14/ Admn.919/16.13.100/95 dated September 26, 1995 containing revised instructions on the constitution and functions of the Audit Committee of Board (ACB).The ACB is required to oversee the internal inspection, statutory audit, inter-branch/inter-bank acc
RBI/2004.15DBS.FGV(F) No.1004/23.04.01A/2003-04 January 14, 2004The Chief ExecutivesAll Indian Commercial banksDear Sir,Monitoring of large value frauds by the Board of DirectorsPlease refer to our circular DOS No BC 14/ Admn.919/16.13.100/95 dated September 26, 1995 containing revised instructions on the constitution and functions of the Audit Committee of Board (ACB).The ACB is required to oversee the internal inspection, statutory audit, inter-branch/inter-bank acc
Jan 14, 2004
Maintenance of CRR / SLR on transaction in Collateralised Borrowing and Lending Obligation (CBLO)
RBI/2004/12 DBOD.No.Ret.BC. 63 /12.01.001/2003-04 January 14, 2004 To All Scheduled Commercial Banks (Excluding RRBs and LABs) Dear Sir, Maintenance of CRR / SLR on transaction in Collateralised Borrowing and Lending Obligation (CBLO) As you are aware, Reserve Bank of India has been promoting collateralised borrowing / lending operations by market participants. In this connection, we invite a reference to paragraph 101 of the Governor’s statement on mid-term review on
RBI/2004/12 DBOD.No.Ret.BC. 63 /12.01.001/2003-04 January 14, 2004 To All Scheduled Commercial Banks (Excluding RRBs and LABs) Dear Sir, Maintenance of CRR / SLR on transaction in Collateralised Borrowing and Lending Obligation (CBLO) As you are aware, Reserve Bank of India has been promoting collateralised borrowing / lending operations by market participants. In this connection, we invite a reference to paragraph 101 of the Governor’s statement on mid-term review on
Jan 08, 2004
Final Guidelines on Investment by the FIs in Debt Securities
RESERVE BANK OF INDIAFinancial Institutions DivisionDepartment of Financial SupervisionJanuary 8, 2004@@NBSP@@@@NBSP@@RBI /2004/8DBS.FID.No. C-11 /01.02.00/2003-04The CEOs of all-India Term Lending and Refinancing InstitutionsDear Sir,Final guidelines on investment by the FIs in debt securitiesPlease refer to our Circular DBS.FID.No.C-8/01.02.00/2003-04 dated November 4, 2003 forwarding the draft guidelines on investment by the FIs in debt securities for comments whic
RESERVE BANK OF INDIAFinancial Institutions DivisionDepartment of Financial SupervisionJanuary 8, 2004@@NBSP@@@@NBSP@@RBI /2004/8DBS.FID.No. C-11 /01.02.00/2003-04The CEOs of all-India Term Lending and Refinancing InstitutionsDear Sir,Final guidelines on investment by the FIs in debt securitiesPlease refer to our Circular DBS.FID.No.C-8/01.02.00/2003-04 dated November 4, 2003 forwarding the draft guidelines on investment by the FIs in debt securities for comments whic
Dec 27, 2003
Ad hoc Committees on Procedures and Performance Audit on Customer Services in Banks
DBOD.No.Leg.BC.60 /09.07.005/2003-04 December 27, 2003 To All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Ad hoc Committees on Procedures and Performance Audit on Customer Services in Banks Please refer to Paragraph 78 of the Statement on the Mid Term Review of Monetary and Credit Policy for the year 2003-2004. 2. In order to support broad-based improvement in customer services in relation to various banking services, each bank is advised to constitute an Ad
DBOD.No.Leg.BC.60 /09.07.005/2003-04 December 27, 2003 To All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Ad hoc Committees on Procedures and Performance Audit on Customer Services in Banks Please refer to Paragraph 78 of the Statement on the Mid Term Review of Monetary and Credit Policy for the year 2003-2004. 2. In order to support broad-based improvement in customer services in relation to various banking services, each bank is advised to constitute an Ad
Jan 16, 2003
Trading of Government Securities on Stock Exchanges
DBOD.No.FSC.BC. 60 /24.76.002/2002-03
DBOD.No.FSC.BC. 60 /24.76.002/2002-03
DBOD.No.FSC.BC. 60 /24.76.002/2002-03January 16, 2003The Chairmen/Chief Executives of all Commercial Banks (excluding RRBs and LABs)Dear Sir,Trading of Government Securities on Stock ExchangesWith a view to encouraging wider participation of all classes of investors, including retail, in government securities, it has been decided to introduce trading in government securities through a nation wide anonymous, order driven, screen based trading system of the stock exchan
DBOD.No.FSC.BC. 60 /24.76.002/2002-03January 16, 2003The Chairmen/Chief Executives of all Commercial Banks (excluding RRBs and LABs)Dear Sir,Trading of Government Securities on Stock ExchangesWith a view to encouraging wider participation of all classes of investors, including retail, in government securities, it has been decided to introduce trading in government securities through a nation wide anonymous, order driven, screen based trading system of the stock exchan
Oct 08, 2002
Interest Rate on FCNR(B) Deposits
Reserve Bank of IndiaCentral OfficeDepartment of Banking Operations and DevelopmentCentre - 1, World Trade CentreCuffe Parade, Colaba, Mumbai - 400 005October 8, 2002Ref. DBOD No. Dir. BC. 31/13.03.00/2002-03All Scheduled Commercial Banks(excluding RRBs & LABs)Dear Sir,Interest Rate on FCNR(B) DepositsPlease refer to our circular DBOD No. Dir. BC. 98/13.03.00/01-02 dated 29 April 2002 advising therein that in respect of FCNR(B) deposits for a maturity of 1-3 years
Reserve Bank of IndiaCentral OfficeDepartment of Banking Operations and DevelopmentCentre - 1, World Trade CentreCuffe Parade, Colaba, Mumbai - 400 005October 8, 2002Ref. DBOD No. Dir. BC. 31/13.03.00/2002-03All Scheduled Commercial Banks(excluding RRBs & LABs)Dear Sir,Interest Rate on FCNR(B) DepositsPlease refer to our circular DBOD No. Dir. BC. 98/13.03.00/01-02 dated 29 April 2002 advising therein that in respect of FCNR(B) deposits for a maturity of 1-3 years
Aug 27, 2001
Credit exposure norms - applicability to refinancing institutions
Ref.DBS.FID.No.C-3 /01.02.00 / 2001-02 August 27 , 2001 To the CEOs of the all-India Refinancing Institutions (NABARD, NHB and SIDBI) Dear Sir, Credit exposure norms – applicability to refinancing institutions Please refer to our Circular DOS.FID.No.17 / 01.02.00/96-97 dated 28 June 1997 relating to credit exposure norms for individual and group borrowers. 2. It has been observed from some of the references received by us that there is a lack of clarity regarding the
Ref.DBS.FID.No.C-3 /01.02.00 / 2001-02 August 27 , 2001 To the CEOs of the all-India Refinancing Institutions (NABARD, NHB and SIDBI) Dear Sir, Credit exposure norms – applicability to refinancing institutions Please refer to our Circular DOS.FID.No.17 / 01.02.00/96-97 dated 28 June 1997 relating to credit exposure norms for individual and group borrowers. 2. It has been observed from some of the references received by us that there is a lack of clarity regarding the
Feb 27, 2001
Payment of Balance in Account of the Deceased Customers to Legal Survivors / Claimants
RPCD.CO.No.RF.BC.59/07.28.01/2000-2001 February 27, 2001 All State and Central Co-operative Banks /Regional Rural Banks Dear Sir, Payment of Balance in Account of the Deceased Customers to Legal Survivors / Claimants Please refer to our circular No.RF.BC.09/07.38.01/2000-2001 dated 22 August 2000. 2. In this connection, we clarify that in regard to payment of balances in the accounts of the deceased customers to survivors / claimants the banks may call for succession
RPCD.CO.No.RF.BC.59/07.28.01/2000-2001 February 27, 2001 All State and Central Co-operative Banks /Regional Rural Banks Dear Sir, Payment of Balance in Account of the Deceased Customers to Legal Survivors / Claimants Please refer to our circular No.RF.BC.09/07.38.01/2000-2001 dated 22 August 2000. 2. In this connection, we clarify that in regard to payment of balances in the accounts of the deceased customers to survivors / claimants the banks may call for succession
Aug 22, 2000
Payment of Balance in Accounts of the Deceased Customers to Survivors / Claimants
RPCD.CO.No.RF.BC.09/07.38.01/2000-2001 August 22, 2000 The Chairman ofAll State and Central Co-operative Banksand Regional Rural banks Dear Sir, Payment of Balance in Accounts of the Deceased Customers to Survivors / Claimants Please refer to our circular RPCD.No.BC.89/07.38.01/94-95 dated 21 December 1994 on the above subject, wherein banks were permitted to fix a limit higher than Rs.25,000/- if they consider it appropriate to settle the claims of survivors / claima
RPCD.CO.No.RF.BC.09/07.38.01/2000-2001 August 22, 2000 The Chairman ofAll State and Central Co-operative Banksand Regional Rural banks Dear Sir, Payment of Balance in Accounts of the Deceased Customers to Survivors / Claimants Please refer to our circular RPCD.No.BC.89/07.38.01/94-95 dated 21 December 1994 on the above subject, wherein banks were permitted to fix a limit higher than Rs.25,000/- if they consider it appropriate to settle the claims of survivors / claima
Jun 25, 1999
Gold Loan against Bank Guarantee/Letter of Credit issued by other banks
RESERVE BANK OF INDIA CENTRAL OFFICE DEPARTMENT OF BANKING OPERATIONS & DEVELOPMENT CENTRE ·1. WORLD TRADE CENTRE. CUFFE PARADE COLABA MUMBAI- 400 005 Ref. : DBOD No.........IBS .3161 /23.67.001.98-99 June 25, 1999 All the banks authorised to import Gold / Silver / Platinum Dear Sir, Gold Loan against Bank Guarantee/Letterof Credit issued by other banks In terms of our circular No.DBOD.IBS.1519/23.67.001/98-99 dated 31st December 1998, authorized banks have been p
RESERVE BANK OF INDIA CENTRAL OFFICE DEPARTMENT OF BANKING OPERATIONS & DEVELOPMENT CENTRE ·1. WORLD TRADE CENTRE. CUFFE PARADE COLABA MUMBAI- 400 005 Ref. : DBOD No.........IBS .3161 /23.67.001.98-99 June 25, 1999 All the banks authorised to import Gold / Silver / Platinum Dear Sir, Gold Loan against Bank Guarantee/Letterof Credit issued by other banks In terms of our circular No.DBOD.IBS.1519/23.67.001/98-99 dated 31st December 1998, authorized banks have been p
Feb 25, 1999
Operation of Bank Accounts by Old/Sick/Incapacitated Customers
RPCD.No.RF.BC.71/07.38.01/98-99 February 25, 1999 All State and Central Co-operative Banks Dear Sir, Operation of Bank Accounts by Old/Sick/Incapacitated Customers The question of extending a suitable facility to old/sick/incapacitated bank customers for operation of their bank accounts etc. has been engaging our attention for some time. It has been decided to extend certain facilities to account holders who are sick/old/incapacitated and who are not willing to open a
RPCD.No.RF.BC.71/07.38.01/98-99 February 25, 1999 All State and Central Co-operative Banks Dear Sir, Operation of Bank Accounts by Old/Sick/Incapacitated Customers The question of extending a suitable facility to old/sick/incapacitated bank customers for operation of their bank accounts etc. has been engaging our attention for some time. It has been decided to extend certain facilities to account holders who are sick/old/incapacitated and who are not willing to open a
Feb 20, 1999
Collection and Dissemination of Information on
cases of Wilful Default of Rs.25 lakhs and above
cases of Wilful Default of Rs.25 lakhs and above
DBOD.No.BC.DL.(W)12/20.16.002(1)98-99February 20, 1999Phalguna 01, 1920 (S)All Scheduled Commercial BanksAll notified All India Financial Institutions viz. IDBI, ICICI and IFCIDear Sirs,Collection and Dissemination of Information oncases of Wilful Default of Rs.25 lakhs and abovePursuant to the instructions of the Central Vigilance Commission for collection of information on wilful defaults of Rs.25 lakhs and above by RBI and dissemination to the reporting banks and F
DBOD.No.BC.DL.(W)12/20.16.002(1)98-99February 20, 1999Phalguna 01, 1920 (S)All Scheduled Commercial BanksAll notified All India Financial Institutions viz. IDBI, ICICI and IFCIDear Sirs,Collection and Dissemination of Information oncases of Wilful Default of Rs.25 lakhs and abovePursuant to the instructions of the Central Vigilance Commission for collection of information on wilful defaults of Rs.25 lakhs and above by RBI and dissemination to the reporting banks and F
Feb 10, 1999
Asset - Liability Management ( ALM ) System
DBOD BP.BC. 8/21.04.098/99February 10, 1999ToAll Scheduled Commercial Banks(excluding RRBs)Dear Sir, Asset - Liability Management ( ALM ) System Please refer to our circular DBOD No. BP. BC. 94/ 21. 04. 098/ 98 dated September 10, 1998 forwarding therewith draft Guidelines for putting in place Asset-Liability Management (ALM) System in banks. The draft Guidelines have been reviewed by us in the light of the issues raised/suggestions made by banks in the seminars held
DBOD BP.BC. 8/21.04.098/99February 10, 1999ToAll Scheduled Commercial Banks(excluding RRBs)Dear Sir, Asset - Liability Management ( ALM ) System Please refer to our circular DBOD No. BP. BC. 94/ 21. 04. 098/ 98 dated September 10, 1998 forwarding therewith draft Guidelines for putting in place Asset-Liability Management (ALM) System in banks. The draft Guidelines have been reviewed by us in the light of the issues raised/suggestions made by banks in the seminars held
Dec 31, 1998
Gold Loan
DBOD.No.IBS.1519/23.67.001/98-99 December 31, 1998 All the nominated banks authorised to import Gold / Silver / Platinum Dear Sir, Gold Loan Please refer to circular A.D.(G.P. Series) Circular No.7 dated March 6, 1998 permitting the nominated agencies / banks to import gold on loan basis for a maximum period of 180 days. With a view to mobilising and recycling the gold stocks available in the country, the banks were also recently advised to formulate the Gold Deposit
DBOD.No.IBS.1519/23.67.001/98-99 December 31, 1998 All the nominated banks authorised to import Gold / Silver / Platinum Dear Sir, Gold Loan Please refer to circular A.D.(G.P. Series) Circular No.7 dated March 6, 1998 permitting the nominated agencies / banks to import gold on loan basis for a maximum period of 180 days. With a view to mobilising and recycling the gold stocks available in the country, the banks were also recently advised to formulate the Gold Deposit
Sep 10, 1998
Asset - Liability Management (ALM) System
DBOD No. BP. BC. 94/ 21. 04. 098/ 98September 10, 1998 ToAll Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir, Asset - Liability Management (ALM) System As you are aware, the RBI has decided to introduce the Asset- Liability Management (ALM) System, as a part of the Risk Management and control Systems in banks. We forward herewith broad Draft guidelines for measurement of liquidity risk and interest rate risk for putting in place the ALM System. Th
DBOD No. BP. BC. 94/ 21. 04. 098/ 98September 10, 1998 ToAll Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir, Asset - Liability Management (ALM) System As you are aware, the RBI has decided to introduce the Asset- Liability Management (ALM) System, as a part of the Risk Management and control Systems in banks. We forward herewith broad Draft guidelines for measurement of liquidity risk and interest rate risk for putting in place the ALM System. Th
Mar 05, 1997
Interest Rates on Deposits
RPCD.No.DIR.BC.110/07.38.01/96-97 March 5, 1997 All State/Central Co-operative Banks Dear Sir, Interest Rates on Deposits It has been brought to our notice that some banks, while soliciting deposits from the public, have resorted to highlighting only the compounded yield on term deposits without indicating the actual rate of simple interest offered by the bank for the particular period of the deposits. As this is likely to mislead the customers, the banks should in an
RPCD.No.DIR.BC.110/07.38.01/96-97 March 5, 1997 All State/Central Co-operative Banks Dear Sir, Interest Rates on Deposits It has been brought to our notice that some banks, while soliciting deposits from the public, have resorted to highlighting only the compounded yield on term deposits without indicating the actual rate of simple interest offered by the bank for the particular period of the deposits. As this is likely to mislead the customers, the banks should in an
Sep 10, 1996
Operation of Safe Deposits Lockers by Customers
RPCD.No.BC.36/07.38.01/96-97 September 10, 1996 The Chief Executive of all State and Central Co-operative Banks Dear Sir, Operation of Safe Deposits Lockers by Customers In an incident which occurred in the recent past, a customer was confined in a locker room of a commercial bank for 72 hours from the Saturday afternoon until Tuesday morning (Monday being a holiday) when the bank was re-opened for business. While no doubt, such instances occur due to non-adherence to
RPCD.No.BC.36/07.38.01/96-97 September 10, 1996 The Chief Executive of all State and Central Co-operative Banks Dear Sir, Operation of Safe Deposits Lockers by Customers In an incident which occurred in the recent past, a customer was confined in a locker room of a commercial bank for 72 hours from the Saturday afternoon until Tuesday morning (Monday being a holiday) when the bank was re-opened for business. While no doubt, such instances occur due to non-adherence to
Apr 06, 1994
Committee on Customer Service in Banks - Implementation of Recommendations of the Goiporia Committee
RPCD.No.BC.126/07.38.01/93-94 April 6, 1994 All State Co-operative Banks Central Co-operative Banks Dear Sir, Committee on Customer Service in Banks - Implementation of Recommendations of the Goiporia Committee Please refer to our circular RPCD.No.111/07.38.01/92-93 dated 12th May 1993 in terms of which we have advised banks to implement certain recommendations of the Goiporia Committee on Customer Service in Banks and submit a progress report to our concerned Regiona
RPCD.No.BC.126/07.38.01/93-94 April 6, 1994 All State Co-operative Banks Central Co-operative Banks Dear Sir, Committee on Customer Service in Banks - Implementation of Recommendations of the Goiporia Committee Please refer to our circular RPCD.No.111/07.38.01/92-93 dated 12th May 1993 in terms of which we have advised banks to implement certain recommendations of the Goiporia Committee on Customer Service in Banks and submit a progress report to our concerned Regiona
Jan 01, 1994
Customer Service - Immediate Credit of Local Cheques
RPCD.No.BC.80/07.38.01/93-94 January 1, 1994 All State/Central Co-operative Banks Dear Sir, Customer Service - Immediate Credit of Local Cheques It has been decided that banks may afford immediate credit for all local cheques upto Rs. 5,000/- irrespective of the category or status of the drawers of the cheques provided they are satisfied about proper conduct of the accounts and the customers desire the facility, and subject to recovering a charge of Rs. 5/- per cheque
RPCD.No.BC.80/07.38.01/93-94 January 1, 1994 All State/Central Co-operative Banks Dear Sir, Customer Service - Immediate Credit of Local Cheques It has been decided that banks may afford immediate credit for all local cheques upto Rs. 5,000/- irrespective of the category or status of the drawers of the cheques provided they are satisfied about proper conduct of the accounts and the customers desire the facility, and subject to recovering a charge of Rs. 5/- per cheque
Sep 10, 1993
Delay in Crediting the Proceeds of Outstanding Instruments - Rate of interest
RPCD.No.BC.35/07.38.01/93-94 September 10, 1993 All State Co-operative Banks/ Central Co-operative Banks Dear Sir, Delay in Crediting the Proceeds of Outstanding Instruments - Rate of interest Please refer to our circular RPCD.No.BC.110/07.38.01/92-93 dated 11 May 1993, wherein we had advised the banks to pay interest at 2 per cent above the savings bank rate in case of delayed collection of instruments like cheques/drafts (bills etc., beyond, the stipulated period. I
RPCD.No.BC.35/07.38.01/93-94 September 10, 1993 All State Co-operative Banks/ Central Co-operative Banks Dear Sir, Delay in Crediting the Proceeds of Outstanding Instruments - Rate of interest Please refer to our circular RPCD.No.BC.110/07.38.01/92-93 dated 11 May 1993, wherein we had advised the banks to pay interest at 2 per cent above the savings bank rate in case of delayed collection of instruments like cheques/drafts (bills etc., beyond, the stipulated period. I
May 12, 1993
Customer Service
RPCD.No.DC.111/07.38.01-92/93 May 12, 1993 All State/Central Co-operative Banks Dear Sir, Customer Service Please refer to our circular RPCD.No.BC.110/07.38.01-92/93 dated 11 May 1993 in terms of which we have advised you to implement some of the recommendations made by the Committee set up by RBI under the Chairmanship of Shri M. N. Goiporia. 2. The RBI have carefully examined the various other recommendations of the Committee and it has been decided that State/Centr
RPCD.No.DC.111/07.38.01-92/93 May 12, 1993 All State/Central Co-operative Banks Dear Sir, Customer Service Please refer to our circular RPCD.No.BC.110/07.38.01-92/93 dated 11 May 1993 in terms of which we have advised you to implement some of the recommendations made by the Committee set up by RBI under the Chairmanship of Shri M. N. Goiporia. 2. The RBI have carefully examined the various other recommendations of the Committee and it has been decided that State/Centr
May 11, 1993
Customer Service - Implementation of Recommendations of the Goiporia Committee
RPCD.No.BC.110/07.38.01-92/93 May 11, 1993 All State and Central Co-operative Banks Dear Sir, Customer Service - Implementation of Recommendations of the Goiporia Committee As you are aware a committee under the Chairmanship of Shri M. N. Goiporia was set up in September 1990 to make suitable recommendations for improvement in the customer service in banks. Based on the recommendations of the committee it has been decided that State Co-operative Banks/District Central
RPCD.No.BC.110/07.38.01-92/93 May 11, 1993 All State and Central Co-operative Banks Dear Sir, Customer Service - Implementation of Recommendations of the Goiporia Committee As you are aware a committee under the Chairmanship of Shri M. N. Goiporia was set up in September 1990 to make suitable recommendations for improvement in the customer service in banks. Based on the recommendations of the committee it has been decided that State Co-operative Banks/District Central
Apr 21, 1992
Interest Rates on Deposits
RPCD.No.RF.DIR.BC.114/D.1-91/92 April 21, 1992 All State and Central Co-operative Banks Dear Sir, Interest Rates on Deposits Please refer to our circular RPCD.No.RF.DIR.BC.46/D.1-91/92 dated 9 October 1991. At present, fixed rates of interest are prescribed for term deposits for three maturity periods in the range of 11.0 per cent per annum to 13.0 per cent per annum. As a step towards further rationalisation of deposit rates, the number of rates prescribed is being r
RPCD.No.RF.DIR.BC.114/D.1-91/92 April 21, 1992 All State and Central Co-operative Banks Dear Sir, Interest Rates on Deposits Please refer to our circular RPCD.No.RF.DIR.BC.46/D.1-91/92 dated 9 October 1991. At present, fixed rates of interest are prescribed for term deposits for three maturity periods in the range of 11.0 per cent per annum to 13.0 per cent per annum. As a step towards further rationalisation of deposit rates, the number of rates prescribed is being r
Sep 08, 1989
Opening of Bank Accounts in the Names of Minors with Mothers as Guardians
DBOD.No.Leg.BC.19/C.90(H)-89 September 8, 1989 The Chairmen & Managing Directors of all Commercial Banks Opening of Bank Accounts in the Names of Minors with Mothers as Guardians Please refer to our circular DBOD.No.Leg.BC.158/C.90(H)-76 dated 29 December, 1976, inter alia, advising banks to allow opening of minors’ accounts (fixed and savings only) with mothers as guardians. We have now examined a request to extend the facility of allowing opening of minors' acco
DBOD.No.Leg.BC.19/C.90(H)-89 September 8, 1989 The Chairmen & Managing Directors of all Commercial Banks Opening of Bank Accounts in the Names of Minors with Mothers as Guardians Please refer to our circular DBOD.No.Leg.BC.158/C.90(H)-76 dated 29 December, 1976, inter alia, advising banks to allow opening of minors’ accounts (fixed and savings only) with mothers as guardians. We have now examined a request to extend the facility of allowing opening of minors' acco
May 26, 1988
Payment of Balance in the Accounts of Deceased Customers to Survivors/Claimants and Nomination Facilities
RPCD.No.RF.BC.110/D.1-87/98 May 26, 1988 All State and Central Co-operative Banks and Regional Rural Banks. Dear Sir, Payment of Balance in the Accounts of Deceased Customers to Survivors/Claimants and Nomination Facilities At present, banks have prescribed different limit, within which the appropriate authorities of banks can pay the balance outstanding to the credit in the accounts of deceased customers to the heirs/survivors without insisting on production of legal
RPCD.No.RF.BC.110/D.1-87/98 May 26, 1988 All State and Central Co-operative Banks and Regional Rural Banks. Dear Sir, Payment of Balance in the Accounts of Deceased Customers to Survivors/Claimants and Nomination Facilities At present, banks have prescribed different limit, within which the appropriate authorities of banks can pay the balance outstanding to the credit in the accounts of deceased customers to the heirs/survivors without insisting on production of legal
Dec 29, 1976
Opening of Bank Accounts in the Names of Minors with Mothers as Guardians
DBOD.No.Leg.BC.158/C.90(H)-76 29 December, 1976 All Commercial Banks Dear Sirs, Opening of Bank Accounts in the Names of Minors with Mothers as Guardians It has been brought to our notice that considerable difficulty is being experienced by women customers in opening bank accounts in the names of minors, with mothers as their guardians. Presumably, the banks are reluctant to accept the mother as a guardian of a minor, while father is alive in view of section 6 of the
DBOD.No.Leg.BC.158/C.90(H)-76 29 December, 1976 All Commercial Banks Dear Sirs, Opening of Bank Accounts in the Names of Minors with Mothers as Guardians It has been brought to our notice that considerable difficulty is being experienced by women customers in opening bank accounts in the names of minors, with mothers as their guardians. Presumably, the banks are reluctant to accept the mother as a guardian of a minor, while father is alive in view of section 6 of the
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