Daily Archives: August 9, 2015

FRAUDS CLASSIFICATION AND REPORTING

FRAUDS  CLASSIFICATION AND REPORTING MASTER CIRCULAR DBS.CO.CFMC.BC.No.1/23.04.001/2015-16, DATED 1-7-2015 Please refer to our letter DBS.CO.CFMC.BC.No.1/23.04.001/2014-15 dated July 01, 2014 forwarding the Master Circular on ‘Frauds – Classification and Reporting’. It may be noted that the Master Circular consolidates and updates all the instructions issued during the year since the date of the last Master Circular… Read More »

ACQUISITION AND TRANSFER OF PROPERTY IN INDIA BY NRI

ACQUISITION AND TRANSFER OF PROPERTY IN INDIA BY NRI NRI S/PIOS/FOREIGN NATIONALS OF NON-INDIAN ORIGIN MASTER CIRCULAR NO.4/2015-16, DATED 1-7-2015 Acquisition and transfer of immovable property in India by NRIs/PIOs/Foreign Nationals of Non-Indian Origin is regulated in terms of Sub-sections (3), (4) and (5) of Section 6 of the Foreign Exchange Management Act, 1999 read with… Read More »

INTEREST RATES ON DEPOSITS HELD IN FCNR

INTEREST RATES ON DEPOSITS HELD IN FCNR(B) ACCOUNTS MASTER CIRCULAR DBR.NO.DIR.BC.8/13.03.00/2015-16, DATED 1-7-2015   Please refer to the Master Circular DBOD No.Dir.BC.14/13.03.00/2014-15 dated July 1, 2014 consolidating the instructions/guidelines issued to banks till June 30, 2014 relating to deposits held in FCNR (B) Accounts. This Master Circular consolidates instructions on the above matter issued up… Read More »

GUARANTEES AND CO ACCEPTANCES MASTER CIRCULAR

GUARANTEES AND CO-ACCEPTANCES MASTER CIRCULAR DBR.No.DIR.BC.11/13.03.00/2015-16, DATED 1-7-2015 Please refer to the Master Circular DBOD.No.Dir.BC.17/13.03.00/2014-15 dated July 1, 2014 consolidating the instructions/guidelines issued to banks till June 30, 2014, relating to Guarantees and Co-acceptances. This Master Circular consolidates the instructions on the above matter issued up to June 30, 2015. A. Purpose This Master Circular… Read More »

HOUSING FINANCE MASTER CIRCULAR

HOUSING FINANCE MASTER CIRCULAR DBR.No.DIR.BC.13/08.12.001/2015-16, DATED 1-7-2015 Please refer to the Master Circular DBOD No. Dir. BC. 18/08.12.001/2014-15 dated July 1, 2014 consolidating the instructions/guidelines issued to banks till June 30, 2014 relating to Housing Finance. This Master Circular consolidates instructions on the above matter issued up to June 30, 2015. A. Purpose To consolidate… Read More »

Foreign Currency Export Credit To Exporters

RUPEE  AND FOREIGN CURRENCY EXPORT CREDIT AND CUSTOMER SERVICE TO EXPORTERS MASTER CIRCULAR DBR No.DIR.BC.14/04.02.002/2015-16, DATED 1-7-2015 Please refer to the Master Circular DBOD No.DIR.(Exp).BC19/04.02.002/2014-15 dated July 1,2014 consolidating the instructions/guidelines issued to banks till June 30, 2014, relating to Rupee/ Foreign Currency Export Credit & Customer Service to Exporters. This Master Circular consolidates instructions… Read More »

BRANCH LICENSING MASTER CIRCULAR

BRANCH LICENSING MASTER CIRCULAR DBR.CO.RRB.BL.BC.NO. 17/31.01.002/2015-16, DATED 1-7-2015 Please refer to the Master Circular RPCD.CO.RRB.No.BL.BC.4/03.05.90/2014-15 dated July 1, 2014 consolidating instructions/guidelines issued to Regional Rural Banks (RRBs) on Branch Licensing till June 30, 2014. The Master Circular has been suitably updated by incorporating the instructions issued up to June 30, 2015. The Master Circular has… Read More »

WILFUL DEFAULTER

WILFUL DEFAULTER MASTER CIRCULAR DBR.No.CID.BC.22/20.16.003/2015-16 DATED 1-7-2015, Please refer to the Master Circular no. DBR.No.CID.BC.57/20.16.003/2014-15 dated July 1, 2014 consolidating instructions/guidelines issued to banks/FIs till June 30, 2014 and updated as on January 7, 2015 on matters related to wilful defaulters. 2. This Master Circular consolidates instructions on the above matters up to June 30,… Read More »

CASH RESERVE RATIO AND STATUTORY LIQUIDITY RATIO

CASH RESERVE RATIO (CRR) AND STATUTORY LIQUIDITY RATIO (SLR) MASTER CIRCULAR DBR.No.RET.BC.24/12.01.001/2015-16, DATED 1-7-2015 Please refer to the Master Circular RBI/2014-15/91 DBOD.No.Ret.BC.11/12.01.001/2014-15 dated July 01, 2014 updating instructions/guidelines issued to the Scheduled Commercial Banks (SCBs) on CRR/SLR till June 30, 2014. This Master Circular consolidates instructions on the above matters issued up to June 30,… Read More »

EXEMPTIONS FROM THE PROVISIONS OF RBI ACT

EXEMPTIONS FROM THE PROVISIONS OF RBI ACT, 1934 MASTER CIRCULAR DNBR (PD) CC.No.052/03.10.119/2015-16, DATED 1-7-2015 As you are aware, in order to have all current instructions on the subject at one place, the Reserve Bank of India issues updated circulars/notifications. The instructions related to the captioned subject contained in various circulars issued by RBI updated… Read More »

FAIR PRACTICES CODE for NBFC

FAIR PRACTICES CODE MASTER CIRCULAR DNBR (PD) CC.No.054/03.10.119/2015-16, DATED 1-7-2015 As you are aware, in order to have all current instructions on the subject at one place, the Reserve Bank of India issues updated circulars/notifications. The instructions related to the captioned subject contained in various circulars issued by RBI updated as on June 30, 2015… Read More »

MONITORING OF FRAUD IN NBFC

FRAUDS – FUTURE APPROACH TOWARDS MONITORING OF FRAUD IN NBFC MASTER CIRCULAR DNBR (PD) CC. No.058/03.10.119/2015-16, DATED 1-7-2015 As you are aware, in order to have all current instructions on the subject at one place, the Reserve Bank of India issues updated circulars/notifications. The instructions related to the captioned subject contained in various circulars issued… Read More »

GUIDELINES FOR USE OF MAKE IN INDIA LOGO

GUIDELINES FOR PERMITTING USE OF MAKE IN INDIA LOGO PRESS RELEASE F.NO.5(46)/2014-BE-III, DATED 21-7-2015 1. The Department of Industrial Policy & Promotion (DIPP), Government of India has launched extensive international & domestic media campaigns under the Make in India initiative. The “Make in India” Logo and other related proprietary material are valuable assets of DIPP.… Read More »

OBTAINING ANNUITY OPTIONS FROM POLICY HOLDERS

OBTAINING ANNUITY OPTIONS FROM POLICY HOLDERS CIRCULAR NO.IRDA/LIFE/CIR/MISC/140/8/2015, DATED 3-8-2015 It is noticed by the Authority that the Life Insurers are obtaining Annuity Options from the Policy holders prior to vesting date in the case of deferred annuity plans and due to non-receipt of Annuity Option from the concerned policyholders before the vesting date, it… Read More »

RBI allowed bank branch shifting , merger and closure

bank branch shifting , merger and closure at the discretion of the Bank                            RELAXATIONS IN BRANCH  BRANCH AUTHORISATION POLICY CIRCULAR DBR.NO.BAPD.BC.34/22.01.001/2015-16, DATED 6-8-2015 Please refer to circulars DBOD.No.BAPD.BC.54 and 60/22.01.001/2013-14 dated September 19, 2013 and October 21, 2013 respectively on the above… Read More »