Category Archives: RBI

Partial Credit Enhancement to Bonds Issued by Non-Banking Financial Companies and Housing Finance Companies

By | November 2, 2018

RBI/2018-19/70 DBR.BP.BC.No.7/21.04.142/2018-19 November 2, 2018 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Partial Credit Enhancement to Bonds Issued by Non-Banking Financial Companies and Housing Finance Companies Please refer to circular DBR.BP.BC.No.40/21.04.142/2015-16 dated September 24, 2015 on Partial Credit Enhancement to Corporate Bonds and other associated circulars issued subsequently on the subject. 2. It has now been… Read More »

Fire Audit of Currency Chests – RBI Clarification

By | October 25, 2018

RBI/2018-19/66 DCM (CC) No.1083/03.39.01/2018-19 October 25, 2018 The Chairman & Managing Director Chief Executive Officer / Managing Director All Banks having Currency Chests Madam / Dear Sir, Fire Audit of Currency Chests – Clarification Please refer to the instructions issued vide DCM (CC) No.G-11/3445/03.39.01/2015-16 dated April 13, 2016 on ‘Security / Inspection Needs and Movement of Treasure’.… Read More »

RBI Master Direction 2018 for Relief Measures by Banks in Areas affected by Natural Calamities -RRBs

By | October 18, 2018

RBI/FIDD/2018-19/65 Master Direction FIDD.CO.FSD.BC No.10/05.10.001/2018-19 October 17, 2018 The Chairman All Regional Rural Banks Madam / Sir, Master Direction – Reserve Bank of India (Relief Measures by Banks in Areas affected by Natural Calamities) Directions 2018 – RRBs The Master Direction on relief measures by banks in areas affected by Natural Calamities was first issued to Scheduled… Read More »

Category: RBI

RBI Master Direction 2018 for Relief Measures by Banks Natural Calamities -SCBs

By | October 18, 2018

RBI/FIDD/2018-19/64 Master Direction FIDD.CO.FSD.BC No.9/05.10.001/2018-19 October 17, 2018 The Chairman/Managing Director/Chief Executive Officer All scheduled commercial banks (including Small Finance Banks and excluding Regional Rural Banks) Madam / Sir, Master Direction – Reserve Bank of India (Relief Measures by Banks in Areas affected by Natural Calamities) Directions 2018 – SCBs Please refer to our ‘Master… Read More »

Prepaid Payment Instruments (PPIs) – RBI Guidelines for Interoperability

By | October 17, 2018

RBI/2018-19/61 DPSS.CO.PD.No.808/02.14.006/2018-19 October 16, 2018 All Prepaid Payment Instrument Issuers, System Providers and System Participants Madam / Dear Sir, Prepaid Payment Instruments (PPIs) – Guidelines for Interoperability A reference is invited to the Master Direction DPSS.CO.PD.No.1164/02.14.006/2017-18 dated October 11, 2017 (updated as on December 29, 2017) on Issuance and Operation of PPIs (M.D.). As per the road-map… Read More »

Category: RBI

Sovereign Gold Bond 2018-19 Series-II-Issue Price

By | October 12, 2018

Sovereign Gold Bond 2018-19 Series-II-Issue Price Date : Oct 12, 2018 In terms of GoI notification F.No.4(22)-W&M/2018 and RBI circular IDMD.CDD.No.821/14.04.050/2018-19 dated October 08, 2018, the Sovereign Gold Bond Scheme 2018-19 – Series II will be opened for subscription for the period from October 15, 2018 to October 19, 2018. The nominal value of the bond based on the… Read More »

Category: RBI

Sovereign Gold Bond Scheme 2018-19 : Operational Guidelines by RBI issued

By | October 8, 2018

RBI/2018-19/58 IDMD.CDD.No.822/14.04.050/2018-19 October 08, 2018 The Chairman & Managing Director All Scheduled Commercial Banks (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme 2018-19, Operational Guidelines This has reference to the GoI notification F.No.4(22)-W&M/2018 and RBI circular IDMD.CDD.No. /14.04.050/2018-19… Read More »

Category: RBI

Sovereign Gold Bond Scheme 2018-19 : RBI issued terms and conditions

By | October 8, 2018

RBI/2018-19/57 IDMD.CDD.No.821/14.04.050/2018-19 October 08, 2018 The Chairman & Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India Ltd. (SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme 2018-19 Government of India has vide its Notification F.No. 4(22)-W&M/2018 dated October 08,… Read More »

Category: RBI

Electronic Trading Platforms (Reserve Bank) Directions 2018

By | October 5, 2018

The Electronic Trading Platforms (Reserve Bank) Directions, 2018 RBI/2018-2019/55 FMRD.FMID.07/14.03.027/2018-19 October 05, 2018 To All operators of Electronic Trading Platforms Dear Sir/Madam The Electronic Trading Platforms (Reserve Bank) Directions, 2018 Please refer to Paragraph 9 of the Statement on Developmental and Regulatory Policies, Reserve Bank of India issued as part of the Fourth Bi-monthly Monetary Policy Statement… Read More »

Category: RBI

Liberalisation of External Commercial Borrowings (ECB) Policy by RBI

By | October 3, 2018

RBI/2018-2019/54 A.P. (DIR Series) Circular No.10 October 3, 2018 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Policy – Liberalisation Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraphs 2.4.5, 2.4.6 and 2.5 of Master Direction No.5 dated January 1, 2016 on “External Commercial Borrowings, Trade Credit, Borrowing and… Read More »

Category: RBI

Voluntary transition of Urban Co-operative Bank into Small Finance Bank : RBI Scheme

By | September 27, 2018

Voluntary Transition of Primary (Urban) Co-operative Banks (UCBs) into Small Finance Banks (SFBs) RBI/2018-19/52 DCBR.CO.LS.PCB. Cir.No.5/07.01.000/2018-19 September 27, 2018 Chief Executive Officers of all Primary (Urban) Co-operative Banks Dear Sir / Madam, Voluntary Transition of Primary (Urban) Co-operative Banks (UCBs) into Small Finance Banks (SFBs) Please refer to Paragraph 4 of the Statement on Developmental… Read More »

Category: RBI

Banks permitted to reckon Government securities for Liquidity Coverage Ratio

By | September 27, 2018

Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards RBI/2018-19/51 DBR.BP.BC.No.4/21.04.098/2018-19 September 27, 2018 All Scheduled Commercial Banks (Excluding RRBs) & Small Finance Banks (SFBs) Dear Sir, Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure… Read More »

RBI Award Scheme for Writings in Hindi in Banking Field

By | September 26, 2018

Award Scheme For Outstanding Writings in the Field of Banking Hindi With a view to encourage original writings and research in Banking Hindi, Reserve Bank of India has launched an ‘Award scheme for outstanding writings in the field of banking Hindi Click here’. Under this scheme, working/retired Professors (including Assistant and Associates, etc.) of Indian… Read More »

Category: RBI

Co-origination of loans by Banks and NBFCs for lending to priority sector

By | September 21, 2018

RBI/2018-19/49 FIDD.CO.Plan.BC.08/04.09.01/2018-19 September 21, 2018 The Chairman / Managing Director/ Chief Executive Officer All Scheduled Commercial Banks (excluding RRBs & SFBs) and All NBFC-ND-SIs Dear Sir/ Madam, Co-origination of loans by Banks and NBFCs for lending to priority sector Please refer to Para 3 of the Statement on Developmental and Regulatory Policies of the Third Bi-Monthly Monetary Policy… Read More »

External Commercial Borrowings (ECB) Policy – Liberalisation by RBI

By | September 19, 2018

RBI/2018-19/48 A.P. (DIR Series) Circular No.9 September 19, 2018 To All Category-I Authorised Dealer Banks Madam / Sir External Commercial Borrowings (ECB) Policy – Liberalisation Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraphs 2.4.1 and 3.3.3 of Master Direction No.5 dated January 1, 2016 on “External Commercial Borrowings, Trade Credit, Borrowing and Lending… Read More »

Category: RBI

RBI (Note Refund) Rules 2009 Amended for Exchange of mutilated notes in Mahatma Gandhi (New) series

By | September 8, 2018

Amendments to Reserve Bank of India (Note Refund) Rules, 2009 RBI/2018-19/46 DCM (NE) No.657/08.07.18/2018-19 September 7, 2018 The Chairman and Managing Director / The Managing Director/ The Chief Executive Officer All Banks Madam / Dear Sir, Amendments to Reserve Bank of India (Note Refund) Rules, 2009 Please refer to the Reserve Bank of India (Note Refund)… Read More »

Foreign Investment in India -Reporting in Single Master Form

By | September 1, 2018

RBI/2017-18/194 A.P (DIR Series) Circular No.30 June 07, 2018 To All Category – I Authorised Dealer Banks Madam/Sir Foreign Investment in India -Reporting in Single Master Form As announced in the First Bi-monthly Monetary Policy Review dated April 5, 2018, Reserve Bank, with the objective of integrating the extant reporting structures of various types of foreign… Read More »

Category: RBI

Innovation in Retail Payments : UPI 2.0

By | August 17, 2018

Innovation in Retail Payments : UPI 2.0 (Urjit R. Patel, Governor, Reserve Bank of India, August 16, 2018 – Address at the Launch of Unified Payments Interface(UPI) Version 2) I am pleased that with a view to widen the scope and to increase digital payments in India, an enhanced version of UPI is being launched… Read More »

Category: RBI

Zero Tolerance against Corruption in Banks

By | August 7, 2018

Ministry of Finance Zero Tolerance against Corruption Posted On: 07 AUG 2018 6:22PM by PIB Delhi  Central Bureau of Investigation (CBI) has intimated that a total of 273 (268 Regular Cases (RCs) + 05 Preliminary Enquiry (PE)) cases have been registered by CBI relating to corruption in Banks during the year 2017 & 2018 (up… Read More »

Category: RBI

Audit of Banks

By | August 7, 2018

Ministry of Finance Audit of Banks Posted On: 07 AUG 2018 6:21PM by PIB Delhi With regard to Statutory Audit, Reserve Bank of India (RBI) has informed that it has issued Guidelines for appointment of Statutory Central Auditors (SCAs) and Statutory Branch Auditors in Public Sector Banks (PSBs), which covers the norms on eligibility, empanelment and… Read More »

Category: RBI

When Bank will not Accept Cash for making Demand Draft / Transfer of Funds?

By | August 5, 2018

When Bank will not Accept Cash for making Demand Draft / Transfer of Funds? Video Explanation by CA Satbir Singh in Hindi Reserve Bank of India (RBI) Directions to Banks   Issue and Payment of Demand Drafts, etc., Any remittance of funds by way of demand draft, mail/telegraphic transfer/NEFT/IMPS or any other mode and issue of… Read More »

Banks shall use Foreign Currency conversion rate announced by FBIL : RBI

By | August 2, 2018

RBI/2018-19/34 DBR.Ret.BC.No.01/12.01.001/2018-19 August 02, 2018 The Chairperson / CEOs of all Scheduled and Non- Scheduled Banks Dear Sir/Madam, Maintenance of CRR/SLR on Foreign Currency Assets/Liabilities– Reference rate for INR/USD and exchange rate of other major currencies. Please refer to our circular DBOD.No.Ret.BC.113/12.01.001/2011-12 dated June 29, 2012 on Maintenance of CRR on FCNR(B) Scheme advising banks to be… Read More »

Category: RBI

Reverse Repo Rates w.e.f 01.08.2018 Revised by RBI

By | August 2, 2018

Liquidity Adjustment Facility – Repo and Reverse Repo Rates RBI/2018-2019/31 FMOD.MAOG. No.126 /01.01.001/2018-19 August 1, 2018 All Scheduled Commercial Banks (excluding RRBs), Scheduled Urban Co-operative Banks and Standalone Primary Dealers Madam/Sir, Liquidity Adjustment Facility – Repo and Reverse Repo Rates As announced in the Third Bi-monthly Monetary Policy Statement, 2018-19 today, it has been decided by the… Read More »

Category: RBI

Marginal Standing Facility Rate revised from 01.08.2018 by RBI

By | August 2, 2018

Marginal Standing Facility RBI/2018-2019/30 FMOD.MAOG.No.127/01.18.001/2018-19 August 1, 2018 All Scheduled Commercial Banks (excluding RRBs) Madam/Sir, Marginal Standing Facility As announced in the Third Bi-monthly Monetary Policy Statement, 2018-19 today, it has been decided by the Monetary Policy Committee (MPC) to increase the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.25… Read More »

Category: RBI

Change in Bank Rate w.e.f 01.08.2018 by RBI

By | August 2, 2018

RBI/2018-19/32 DBR.No.Ret.BC.03/12.01.001/2018-19 August 1, 2018 The Chairperson / CEOs of all Scheduled and Non Scheduled Banks Dear Sir / Madam, Change in Bank Rate Please refer to our circular DBR.No.Ret.BC.107/12.01.001/2017-18 dated June 6, 2018 on the captioned subject. 2. As announced in the Third Bi-Monthly Monetary Policy Statement 2018-19 dated August 1, 2018, the Bank Rate stands adjusted… Read More »

Category: RBI

Changes in Standing Liquidity Facility w.e.f 01.08.2018 by RBI

By | August 2, 2018

Standing Liquidity Facility for Primary Dealers RBI/2018-19/33 REF. No. MPD.BC. 384/07.01.279/2018-19 August 01, 2018 All Primary Dealers, Standing Liquidity Facility for Primary Dealers In the Third Bi-monthly Monetary Policy Statement 2018-19 of the Monetary Policy Committee (MPC), the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points to 6.50 per… Read More »

Category: RBI

Incorporation of Name of Purchaser on Face of Demand Draft : RBI Instructions

By | July 12, 2018

Incorporation of Name of the Purchaser on the Face of the Demand Draft : Reserve Bank of india RBI/2018-19/14 DBR.AML.BC.No.210/14.01.001/2018-19 July 12, 2018 The Chairperson/CEOs of all Scheduled Commercial Banks including Regional Rural Banks/Urban Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks/Local Area Banks/Small Finance Banks/Payment Banks Dear Sir/Madam, Incorporation of Name of the Purchaser… Read More »

RBI Master Direction on Currency Distribution & Exchange Scheme

By | July 5, 2018

Master Direction on Currency Distribution & Exchange Scheme (CDES) based on performance in rendering customer service to the members of public RBI/DCM/2018-19/63 Master Direction DCM (CC) No.G-3/03.41.01/2018-19 July 3, 2018 The Chairman and Managing Director / Chief Executive Officers, All Banks Madam / Dear Sir, Master Direction on Currency Distribution & Exchange Scheme (CDES) based… Read More »

Currency Chest Transaction : RBI Master Direction on Levy of Penal Interest for Delayed Reporting / Wrong Reporting / Non-Reporting

By | July 5, 2018

Master Direction on Levy of Penal Interest for Delayed Reporting / Wrong Reporting / Non-Reporting of Currency Chest Transactions and Inclusion of Ineligible Amounts in Currency Chest Balances RBI/DCM/2018-19/62 Master Direction DCM (CC) No. G – 5/03.35.01/2018-19 July 3, 2018 1. The Chairman & Managing Director/Chief Executive Officer (All Banks having Currency Chests) 2. The… Read More »

Category: RBI

RBI Master Circular : Penalties for bank branches for customer service performance

By | July 5, 2018

Master Circular – Scheme of Penalties for bank branches based on performance in rendering customer service to the members of public RBI/2018-19/11 DCM (CC) No.G-4/03.44.01/2018–19 July 3, 2018 The Chairman & Managing Director Chief Executive Officers All Banks Madam / Dear Sir, Master Circular – Scheme of Penalties for bank branches based on performance in… Read More »

RBI Master Circular on Lead Bank Scheme Dated 02.07.2018

By | July 4, 2018

RBI Master Circular on Lead Bank Scheme RBI/2018-19/5 FIDD.CO.LBS.BC.No.2/02.01.001/2018-19 July 2, 2018 The Chairmen and Managing Directors/Chief Executive Officers SLBC Convenor Banks/Lead Banks Dear Sir/Madam MASTER CIRCULAR – Lead Bank Scheme The Reserve Bank of India has issued a number of guidelines/instructions on Lead Bank Scheme from time to time. This Master Circular consolidates the relevant guidelines/instructions… Read More »

RBI Master Circular on SHG-Bank Linkage Programme

By | July 4, 2018

RBI Master Circular on SHG-Bank Linkage Programme RBI/2018-19/07 FIDD.FID.BC.No.04/12.01.033/2018-19 July 02, 2018 The Chairman/ Managing Director/ Chief Executive Officer All Scheduled Commercial Banks Madam/ Dear Sir Master Circular on SHG-Bank Linkage Programme The Reserve Bank of India has, from time to time, issued a number of guidelines/instructions to banks on SHG-Bank Linkage Programme. In order… Read More »

RBI Master Directions on Relief/Savings Bonds

By | July 4, 2018

Master Directions on Relief/Savings Bonds RBI/IDMD/2018-19/61 IDMD.CDD No.21/13.01.299/2018-19 July 2, 2018 The Chairman / Managing Director Head Office (Government Accounts Department) State Bank of India All Nationalized banks (Excluding Punjab and Sind Bank & Andhra Bank) Axis Bank Ltd./ICICI Bank Ltd./HDFC Bank Ltd./ Stock Holding Corporation of India Ltd. (SHCIL) Dear Sir/Madam, Master Directions on… Read More »

RBI Master Circular – Detection and Impounding of Counterfeit Notes

By | July 2, 2018

RBI Master Circular – Detection and Impounding of Counterfeit Notes RBI/2018-19/04 DCM(FNVD)G – 1/16.01.05/2018-19 July 2, 2018 The Chairman/ Managing Director /Chief Executive Officer All Banks and Director of Treasuries of all States Dear Sir / Madam, Master Circular – Detection and Impounding of Counterfeit Notes Please refer to the Master Circular DCM(FNVD)G – 4/16.01.05/2017-18 dated… Read More »

RBI Master Circular – Facility for Exchange of Notes and Coins

By | July 2, 2018

RBI/2018-19/3 DCM (NE) No.G-2/08.07.18/2018-19 July 02, 2018 The Chairman and Managing Director / The Managing Director/ The Chief Executive Officer All Banks Madam / Dear Sir Master Circular – Facility for Exchange of Notes and Coins Please refer to the Master Circular DCM (NE) No.G-1/08.07.18/2017-18 dated July 03, 2017 containing instructions on the facility for exchange of… Read More »

RBI Master Circular on Conduct of Government Business by Agency Banks – Payment of Agency Commission

By | July 2, 2018

RBI/2018-19/2 DGBA.GBD.No.2/31.12.010/2018-19 July 2, 2018 All Agency Banks Dear Sir / Madam Master Circular on Conduct of Government Business by Agency Banks – Payment of Agency Commission Please refer to our Master Circular RBI/2017-18/2 dated July 1, 2017 on the above subject. We have now revised and updated the Master Circular which consolidates important instructions on the… Read More »

RBI Master Circular – Disbursement of Government Pension by Agency Banks

By | July 2, 2018

Master Circular – Disbursement of Government Pension by Agency Banks RBI/2018-19/1 DGBA.GBD.No.-1/31.02.007/2018-19 July 2, 2018 All Agency Banks Dear Sir/Madam Master Circular – Disbursement of Government Pension by Agency Banks Please refer to our Master Circular RBI/2017-18/1 dated July 1, 2017 on the above subject. We have now revised and updated the Master Circular which consolidates important… Read More »

Category: RBI

Relief/Savings Bonds

By | July 1, 2018

Relief/Savings Bonds RBI Master Directions on Relief/Savings Bonds 02.07.2018 Standalone Primary Dealers allowed to distribute Relief / Savings bonds Master Directions on Relief/Savings Bonds 01.07.2017

Category: RBI

RBI action framework for statutory auditors for lapses in statutory audit of commercial banks

By | June 30, 2018

Enforcement action framework in respect of statutory auditors for the lapses in the statutory audit of commercial banks Date : Jun 29, 2018 Statutory Auditors (SAs) of banks play an important role in contributing to financial stability when they deliver quality bank audits which foster market confidence in banks’ financial statements. Quality bank audits are also… Read More »

Category: RBI

Control measures for ATMs – Timeline for compliance : RBI Notification

By | June 30, 2018

Control measures for ATMs RBI/2017-18/206 DBS(CO).CSITE/BC.5/31.01.015/2017-18 June 21, 2018 To The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) All Small Finance Banks and Payment Banks White-Label ATM Operators Madam/Dear Sir, Control measures for ATMs – Timeline for compliance Please refer to our confidential Circular DBS.CO/CSITE/BC.8074/31.01.015/2016-17 dated… Read More »

Category: RBI

Sovereign Gold Bond Scheme 2018-19 Series I : Key Features

By | April 14, 2018

Sovereign Gold Bond Scheme 2018-19 Series I RBI/2017-18/163 IDMD.CDD.No.2651/14.04.050/2017-18 April 13, 2018 The Chairman & Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India Ltd.( SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme 2018-19 Series I Government of… Read More »

Category: RBI

Sovereign Gold Bond Scheme 2018-19 Series-I, Operational Guidelines

By | April 14, 2018

Sovereign Gold Bond Scheme 2018-19 Series-I, Operational Guidelines Reserve bank of India has issued Sovereign Gold Bond Scheme 2018-19 Series-I, Operational Guidelines RBI/2017-18/164 IDMD.CDD.No.2652/14.04.050/2017-18 April 13 2018 The Chairman & Managing Director All Scheduled Commercial Banks (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock… Read More »

Sovereign Gold Bond 2018-19 : Series-I.

By | April 14, 2018

Ministry of Finance ​The ​Government of India, in consultation with the Reserve Bank of India, decide​s​ to issue Sovereign Gold Bond, 2018-19-Series-I​;​ Applications for the ​B​ond​(s)​ will be accepted from 16th to 20th April, 2018​;​ The Certificate of Bond (s)​ to be issued on May 04, 2018​; ​The Bonds ​to be sold through banks, Stock… Read More »