"03 September 2013" Archive - Page 2

Settlement of Claims of Deceased Depositor – Simplification of Procedure – Placing of claim forms on bank’s website

RBI/2013-14/214 DBOD.No.Leg.BC.48/09.07.005/2013-14 (03/09/2013)

Please refer to circular DBOD.No.Leg.BC.95 /09.07.005/2004-05 dated June 09, 2005 wherein simplified procedure has been specified for settlement of claims of deceased depositors. We have been receiving feedback from public that banks are not following the simplified procedure as advised in the circular....

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RBI tightens norms for disbursal of home loans

RBI/2013-14/217 DBOD.BP.BC.No. 51/08.12.015/2013-14 (03/09/2013)

In view of the higher risks associated with such lump-sum disbursal of sanctioned housing loans and customer suitability issues, banks are advised that disbursal of housing loans sanctioned to individuals should be closely linked to the stages of construction of the housing project/houses and upfront disbursal should not be made in cases ...

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RBI grants banks freedon to offer interest rates on NRE deposits with maturity of 3 years

RBI/2013-14/215 UBD.BPD.(PCB) CIR No.8/13.01.000/2013-14 (03/09/2013)

In terms of paragraph 2 ibid, interest rates offered by banks on NRE deposits cannot be higher than those offered by them on comparable domestic rupee deposits. However, in order to pass on the benefit of exemption provided on incremental NRE deposits with maturity of 3 years and above from CRR/ SLR requirements,...

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