Regulations Review Authority (RRA 2.0) – Interim Recommendations- Second tranche
The Reserve Bank of India has set up a Regulations Review Authority (RRA 2.0) with an objective to reduce the compliance burden on Regulated Entities (REs). RRA had recommended withdrawal of 150 circulars in the first tranche of recommendations vide press release dated November 16, 2021.
In continuation of the exercise, RRA has now recommended withdrawal of additional 100 circulars in the second tranche of recommendations. Further, on the suggestions of an internal group (Chairman: Dr. O.P. Mall, Executive Director) the RRA has recommended elimination of paper-based returns and has identified 65 regulatory returns which would either be discontinued/ merged with other returns or would be converted into online returns. The RRA has also recommended creation of a separate web page “Regulatory Reporting” in the RBI website to consolidate information relating to regulatory reporting and return submission by the regulated entities at a single source. These recommendations are expected to ease regulatory compliance for the regulated entities while improving the accuracy, speed and quality of data submission.
Regulated entities would be notified of the discontinuation/ merger and online filing of returns, separately. The notification containing the list of specific instructions recommended for withdrawal is also being issued separately.
*****
RESERVE BANK OF INDIA
RBI/2021-2022/162
DoS.CO.PPG./SEC.09/11.01.005/2021-22
February 18, 2022
All NBFCs/ RNBCs
Madam/Dear Sir,
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Withdrawal of Circulars
Please refer to the press release dated February 18, 2022 issued on the captioned subject.
2. The circulars listed in the Annexure are withdrawn with effect from close of business today.
Yours faithfully,
(Arnab Kumar Chowdhury)
Chief General Manager-in- Charge
Encl: As enclosed
Annexure
| S.No. | Circular No. | Date | Subject |
| 1 | DNBS(PD).CC.No.217/03.10.42/ 2010-11 | May 02, 2011 | List of Terrorist Individuals / Organisations- under UNSCR 1267 (1999) and 1822(2008) on Taliban / AL-Qaida Organisation |
| 2 | DNBS(PD).CC.No.219/ 03.10.42/2010-11 | May 16, 2011 | List of Terrorist Individuals / Organisations under UNSCR 1267 (1999) and 1822 (2008) on Taliban / AL-Qaida Organisation |
| 3 | DNBS(PD).CC.No.220/ 03.10.42/2010-11 | May 20, 2011 | List of Terrorist Individuals / Organisations – under UNSCR 1267(1999) and 1822(2008) on Taliban / AL-Qaida Organisation |
| 4 | DNBS(PD).CC.No.239/ 03.10.42/2011-12 | July 22, 2011 | List of Terrorist Individuals / Organisations – under UNSCR 1267(1999) and 1822(2008) on Taliban / AL-Qaida Organisation |
| 5 | DNBS(PD).CC.No.240/ 03.10.42/2011-12 | August 02, 2011 | List of Terrorist Individuals / Organisations under UNSCR 1267 (1999) and 1822 (2008) on Taliban / AL-Qaida Organisation |
| 6 | DNBS.(PD).CC.No.241/ 03.10.42/2011-12 | September 12, 2011 | List of Terrorist Individuals / Organisations – under UNSCR 1267 (1999)and 1822(2008) on Taliban / AL-Qaida Organisation |
| 7 | DNBS(PD).CC.No.260/ 03.10.42/2011-12 | March 15, 2012 | Implementation of Section 51-A of UAPA, 1967 – Splitting of UNSC 1267 Committee’s List of Individuals and Entities linked to Al-Qaida and Taliban |
| 8 | DNBS(PD).CC.No.261/ 03.10.42/2011-12 | March 20, 2012 | Implementation of Section 51-A of UAPA, 1967 -Updates of the UNSCR 1267 (1999) and 1989 (2011) Committee’s Al Qaida Sanctions List |
| 9 | DNBS(PD).CC.No.262/ 03.10.42/2011-12 | March 20, 2012 | Implementation of Section 51-A of UAPA, 1967-Updates of the UNSCR 1988 (2011) Sanctions List |
| 10 | DNBS(PD).CC.No.267/ 03.10.42/2011-12 | March 26, 2012 | Implementation of Section 51-A of UAPA, 1967 – Updates of the UNSCR 1267 (1999) / 2989 (2011) Committee’s Al Qaida Sanctions List |
| 11 | DNBS(PD).CC.No.268/ 03.10.42/2011-12 | April 04, 2012 | Implementation of Section 51-A of UAPA, 1967 – Updates of the UNSCR 1988 (2011) Sanctions List |
| 12 | DNBS(PD).CC.No.269/ 03.10.42/2011-12 | April 04, 2012 | Implementation of Section 51-A of UAPA, 1967 – Updates of the UNSCR 1267 (1999) /1989 ( 2011) Committee’s Al Qaida Sanctions List |
| 13 | DNBS(PD).CC.No.271/ 03.10.42/2011-12 | May 03, 2012 | Implementation of Section 51-A of UAPA, 1967 – Updates of the UNSCR 1267 (1999) / 1989(2011) Committee’s Al Qaida Sanctions List |
| 14 | DNBS(PD).CC.No.409/ 03.10.42/2014-15 | September 25, 2014 | Implementation of Section 51-A of UAPA, 1967 – Updates of the UNSCR 1988(2011) Taliban Sanctions List |
| 15 | DNBS(PD).CC.No.411/ 03.10.42/2014-15 | September 29, 2014 | Implementation of Section 51-A of UAPA, 1967 – Updates of the UNSCR 1267(1999) / 1989(2011) Committee’s Al Qaida sanctions list |
****
Reserve Bank of India
RBI/2021-2022/163
DoS.CO.PPG./SEC.08/11.01.005/2021-22
February 18, 2022
All Scheduled Commercial Banks / All Payments Banks
All Small Finance Banks / All Co-operative Banks
All NBFCs / All Credit Rating Agencies
Madam / Dear Sir
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Discontinuation/Merger/Online Submission of Returns
Please refer to the press release dated February 18, 2022 issued on the captioned subject.
2. As part of the implementation of the interim recommendations of the RRA 2.0, it is proposed to discontinue/merge the returns listed in the Annex 1. Further, it is also proposed to convert, the paper based/ e-mail-based returns listed in the Annex 2, into online filing.
3. The exact date of discontinuation/merger and online filing of the returns, would be notified in due course.
Yours faithfully,
(Arnab Kumar Chowdhury)
Chief General Manager-in- Charge
Encl: As enclosed
Annex – 1
List of Returns to be Discontinued
| S. No. | Return Name | Return Description |
| 1 | Return on Offshore Banking Units (OBUs) – Quarterly | Return for capturing details on off-shore banking units. |
| 2 | Statement on bad debts written off. – Yearly | Main objective of the proposed reporting is to provide information to the bank on bad debts written off. |
| 3 | Fraud Monitoring Return 2 (FMR2) – Quarterly | To capture the summary of all frauds during the quarter involving an amount of Rs 1 lakh or more for all NBFC-D and NBFC-NDSIs. |
Annex – 2
List of Returns to be converted into Online submission
| S. No. | Return Name | Return Description |
| 1 | Report on financial conglomerates – Quarterly | Capturing the intra-group transactions and exposures amongst the identified FCs. |
| 2 | Whole Bank Long Form Audit Report and Compliance thereof – Yearly | The Statutory Central Auditors are required to submit the LFAR to the banks latest by 30th June every year. The banks were advised to forward a copy each of the LFAR, relative agenda note along with Board’s views or directions to the concerned Regional Office of Department of Banking Supervision within 60 days of submission of LFAR by the Statutory Auditors. |
| 3 | Half-Yearly Review of Investment Portfolio – Half-yearly | Qualitative/ Quantitative review of entire investment portfolio of the bank for the half year. |
| 4 | Fraud Monitoring Return 1 (FMR1) – as and when | To capture the details of the fraud committed by staff, outsiders or customers involving an amount of Rs 1 lakh or more for all NBFC-D and NBFC-NDSIs. |
| 5 | Fraud Monitoring Return 3 (FMR3) – Quarterly | To capture the updated information in respect of frauds reported through FMR-1 for all NBFC-D and NBFC-NDSIs. |
| 6 | Return on delay in Rating Review (by Credit Rating Agencies) – Monthly | Information on latest ratings provided by the Credit Rating Agencies (CRAs) during the month and ratings delayed in review |
| 7 | Quarterly Return for Frauds less than ₹ 1 lakh – Quarterly | Unified FMR for below 1 lakh* |
| 8 | KYC AML – Quarterly | This return captures information which facilitates supervision in better risk discovery, improved risk-assessment and Risk Based Assessment. |
(*) proposed under CIMS Project
***
*****
RESERVE BANK OF INDIA
RBI/2021-2022/164
CO.DPSS.OVRST.No.S1477/06-08-001/2021-2022
February 18, 2022
The Chairman /Managing Director /
Chief Executive Officer
Authorised Payment System Operators /
Banks
Madam /Dear Sir,
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Withdrawal of Circulars
Please refer to the press release dated February 18, 2022 issued on the captioned subject.
2. The circulars listed in the Annex are withdrawn with effect from close of business today.
Yours faithfully,
(P. Vasudevan)
Chief General Manager
Encl.: As above.
Annex
List of Circulars withdrawn with effect from February 18, 2022
(Enclosure to CO.DPSS.OVRST.No. S1477 / 06-08-001 / 2021-2022 dated February 18, 2022)
| Sr.No. | Reference Number | Date | Subject |
| 1. | DPSS(CO)Cir.No.04/10.01.01/2005-2006 | July 13, 2005 | RTGS and other payment systems service charges |
| 2. | DPSS (CO) No.796/01.01.59/2005-2006 | November 23, 2005 | Electronic Payment Products – Service Charges |
| 3. | DPSS.CO.PD.No.1873/02.14.06/2008-09 | April 27, 2009 | Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India |
| 4. | DPSS (CO) RTGS No.1959/04.04.002/2008-2009 | May 11, 2009 | Usage of Inter-bank window for customer transactions |
| 5. | DPSS (CO) RTGS No.2246/04.04.002/2008-2009 | June 16, 2009 | RTGS Transactions |
| 6. | DPSS.CO.PD.No.344/02.14.06/2009-10 | August 14, 2009 | Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India |
| 7. | DPSS (CO) RTGS No.949/04.04.002/2009-2010 | November 11, 2009 | RTGS System – Mandatory Beneficiary Account Number |
| 8. | DPSS (CO) EPPD No. 477/04.03.01/2010-11 | September 01, 2010 | Uniformity in penal interest payable by banks for delays in credit /return of NEFT /NECS /ECS transactions |
| 9. | DPSS.CO.No. 1041/02.14.006/2010-11 | November 04, 2010 | Issuance and Operation of pre-paid payment Instruments in India (Reserve Bank) Directions – Additional guidelines |
| 10. | DPSS. CO. AD. No. 780/02.27.004/2010-11 | November 24, 2010 | Issuance and Operation of Prepaid Payment Instruments |
| 11. | DPSS.CO.OSD. No. 1381/06.08.001/2010-11 | December 27, 2010 | Collection of Statistics on pre-paid instruments |
| 12. | DPSS.CO.OSD. No. 1445/06.12.001/2010-11 | December 27, 2010 | Issuance and operation of Prepaid Payment Instruments in India – Auditor Certificate on the balances in Escrow account |
| 13. | DPSS No. 2174/02.14.004/2010-11 | March 23, 2011 | Issuance and Operation of pre-paid payment instruments in India – Clarification |
| 14. | DPSS.CO.No.2501/02.14.06/2010-11 | May 04, 2011 | Policy Guidelines for issuance and operation of Prepaid Instruments in India |
| 15. | DPSS.CO.PD.No. 225/02.14.006/2011-12 | August 04, 2011 | Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India |
| 16. | DPSS.CO.PD. No. 2256/02.14.006/2011-12 | June 14, 2012 | Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India – Amendments |
| 17. | DPSS.CO.PD.No.560/02.14.006/2012-13 | October 01, 2012 | Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India – Amendments |
| 18. | DPSS.CO.OSD. No.1604/06.06.005/2012-13 | March 14, 2013 | Collection of Information on Customer Grievances |
| 19. | DPSS.CO.PD.No.563/02.14.003/2013-14 | September 05, 2013 | Cash withdrawal at Point of Sale (POS) – Prepaid Payment Instruments issued by banks |
| 20. | DPSS.CO.PD.No.2074/02.14.006/2013-14 | March 28, 2014 | Issuance and Operation of Pre-paid Payment Instruments in India – Consolidated Revised Policy Guidelines |
| 21. | DPSS.CO.PD.No. 2366/02.14.006/2013-14 | May 13, 2014 | Issuance and Operation of Pre-paid Payment Instruments in India – Consolidated Revised Policy Guidelines |
| 22. | DPSS.CO.PD.No.980/02.14.006/2014-15 | December 03, 2014 | Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India – Relaxations |
| 23. | DPSS.CO.PD.No. 58/02.14.006/2015-16 | July 09, 2015 | Prepaid Payment Instrument (PPI) guidelines – Introduction of New Category of PPI for Mass Transit Systems (PPI-MTS) |
| 24. | DPSS.CO.PD.No.1288/02.14.006/2016-17 | November 22, 2016 | Special measures to incentivise Electronic Payments – (i) Enhancement in issuance limits for Pre-Paid Payment Instruments (PPIs) in India (ii) Special measures for merchants |
| 25. | DPSS.CO.PD.No.1610/02.14.006/2016-17 | December 27, 2016 | Master Circular on Issuance and Operations of Prepaid Payment Instruments – Amendments to paragraph 7.9 |
| 26. | DPSS.CO.PD.No.1669/02.14.006/2016-17 | December 30, 2016 | Special measures to incentivise Electronic Payments – Extension of time |
| 27. | DPSS.CO.PD.No.808/02.14.006/2018-19 | October 16, 2018 | Prepaid Payment Instruments (PPIs) – Guidelines for Interoperability |
| 28. | DPSS.CO.PD.No.1417/02.14.006/2018-19 | January 04, 2019 | Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Payment Transactions in Prepaid Payment Instruments (PPIs) issued by Authorised Non-banks |
| 29. | DPSS.CO.PD.No.499/02.14.006/2019-20 | August 30, 2019 | Amendment to Master Direction on Issuance and Operation of Prepaid Payment Instruments (PPIs) |
| 30. | DPSS.CO.PD.No.1198/02.14.006/2019-20 | December 24, 2019 | Introduction of a new type of semi-closed Prepaid Payment Instrument (PPI) – PPIs upto ₹10,000/- with loading only from bank account |
*****
RESERVE BANK OF INDIA
RBI/2021-2022/165
CO.DPSS.OVRST.No.S1478/06-08-001/2021-2022
February 18, 2022
The Chairman / Managing Director /
Chief Executive Officer
Authorised Payment System Operators /
Banks
Madam / Dear Sir,
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Discontinuation / Merger / Online Submission of Returns
Please refer to the press release dated February 18, 2022 issued on the captioned subject.
2. As part of the implementation of interim recommendations of the RRA 2.0, it is proposed to merge the returns listed in the Annex 1. Further, it is also proposed to migrate the returns listed in the Annex 2, to online filing systems viz. Centralised Information Management System (CIMS) and / or Central Information System for Banking Infrastructure (CISBI).
3. The date of effect for merger / migration to CIMS / CISBI, and discontinuation of parallel reporting would be notified in due course.
Yours faithfully,
(P. Vasudevan)
Chief General Manager
Encl.: As above.
Annex 1
List of Returns to be Discontinued / Merged
(Enclosure to CO.DPSS.OVRST.No.S1478/06-08-001/2021-2022 dated February 18, 2022)
| S. No. | Return Name | Return Description |
| 1 | WLA Customer Complaints | Return contains information on complaints received, resolved and pending against White Label ATM Operators (WLAOs). |
| 2 | WLA Statistics | Return contains information on state and region – wise ATMs deployed by WLAOs, transaction volume and value, etc. |
Annex 2
List of Returns identified for online submission through Centralised Information Management System (CIMS) / Central Information System for Banking Infrastructure (CISBI)
(Enclosure to CO.DPSS.OVRST.No.S1478/06-08-001/2021-2022 dated February 18, 2022)
| S. No. | Return Name | Return Description |
| 1 | PPI Statistics | Return captures granular level information on volume and value of transactions related to various Pre-paid Payment Instruments (PPIs). Details are collected from concerned banks and non-bank authorised issuers of PPIs. |
| 2 | MTSS | Return contains details related to remitting countries and state-wise & region-wise remittance destinations under Money Transfer Service Scheme (MTSS). Details are collected from concerned Overseas Principals under MTSS. |
| 3 | ATM deployment* | Return contains details of statistics on state and region – wise ATMs deployed by banks and WLAOs. Details are collected from concerned banks and WLAOs to monitor and regulate the payment and settlement systems in India. |
| *An instruction in this regard had already been issued vide letter DPSS.CO.OD.No.87438/06.08.001/2021-22 dated August 10, 2021. | ||
****
RESERVE BANK OF INDIA
RBI/2021-22/166
CO.FIDD.Plan.BC.17/04.09.01/2021-22
February 18, 2022
The Chairman / Managing Director/
Chief Executive Officer
All Scheduled Commercial Banks
All Small Finance Banks
All Local Area Banks
Madam / Dear Sir
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Online Submission of Returns
Please refer to the press release dated February 18, 2022 issued on the captioned subject.
2. As part of the implementation of the interim recommendations of the RRA 2.0, it is proposed to convert, the paper based/ e-mail-based returns listed in the Annex into online filing.
3. The exact date of online filing of the returns, would be notified in due course.
Yours faithfully,
(Smt. Sonali Sen Gupta)
Chief General Manager-in- Charge
Encl: As above
Annex
List of Returns to be converted into Online submission
| S. No. | Return Name | Return Description |
| 1 | Collateral Loan | Collateral free loans up to Rs. 25 lakh and of those covered under Credit Guarantee Scheme |
| 2 | Composite Loans | Composite Loans outstanding upto Rs 1 Crore under the scheme of SIDBI and Banks |
| 3 | Priority Sector Advances–Quarterly | PSA and sectoral credit – Bank-wise |
| 4 | Priority Sector Advances– Annual | State-wise data relating to PSA and sectoral credit |
| 5 | Granular data for Priority Sector Advances | This contains transactional level data for Priority Sector Advances data |
| 6 | Natural Calamity Notification | Natural Calamity Notification |
*****
RESERVE BANK OF INDIA
RBI/2021-2022/167
DCM (Admin) No. S858/19.01.010/2021-22
February 18, 2022
The Chairman / Managing Director
The Chief Executive Officer
All Banks
Madam/ Dear Sir,
Regulations Review Authority (RRA 2.0) – Interim Recommendations-Discontinuation/Merger/Online Submission of Returns
Please refer to the press release dated February 18, 2022 issued on the captioned subject.
2. As part of the implementation of the interim recommendations of the RRA 2.0, it is proposed to discontinue/merge the returns listed in the Annex 1. Further, it is also proposed to convert, the paper based/ e-mail-based returns listed in the Annex 2, into online filing.
3. The exact date of discontinuation/merger and online filing of the returns, would be notified in due course.
Yours faithfully,
(Suman Ray)
Chief General Manager-in-Charge
Encl: As above
Annex – 1
List of Returns to be Discontinued/ Merged
| S. No. | Return Name | Return Description |
| 1 | Statement of chest slips | Slips received from currency chests indicate deposits and withdrawals of cash from currency chests on day-to-day basis. This helps to arrive at the daily closing balance of currency chests. |
| 2 | Statement of link offices | These are received by Issue Department from link offices of banks concerned and show currency transfer position of banks. The current account of the banks concerned are deleted and credited based on these statements. (Submitted online through ICCOMS daily) |
Annex – 2
List of Returns to be converted into Online submission
| S. No | Return Name | Return Description |
| 1 | RBI note refund rules – statement of defective notes adjudicated at all bank branches | Statement of defective notes adjudicated at currency chests branches. |
| 2 | Format for furnishing addresses etc., particulars of Forged Note Vigilance Cell (FNVC) to RBI | The return conveys the following particulars -Address of FNVC, Name and designation of officer-in-charge, Telephone number, Fax number, E-mail address. |
| 3 | Statement showing details of counterfeit bank notes detected by the branch during the month | The return comprises of two parts -(i) Denomination-wise and State/Union Territory-wise details of forged notes detected by the branch (ii) Details of cases of FIR filed with police. |
| 4 | FNVC to submit status report covering certain important aspects of the functions required to be undertaken by it. | The status report should cover dissemination and implementation of RBI instructions on counterfeit notes, compilation of data on counterfeit notes and its submission to RBI and FIU-IND, sharing information thus compiled with bank’s CVO, conducting surprise checks at currency chests where shortage/counterfeit notes detected, ensuring operation of NSMs at all currency chests/back offices, ensuring only machine checked notes fed into ATMs, put in place adequate safeguards during processing and in transit of notes etc. |
*****
RESERVE BANK OF INDIA
RBI/2021-22/168
DoR.RRA.88/01.01.101/2021-22
February 18, 2022
All Scheduled Commercial Banks
All Regional Rural Banks
All Payments Banks
All Small Finance Banks
All Local Area Banks
All Primary Urban Cooperative Banks
All State Cooperative Banks
All District Central Cooperative Banks
[As applicable]
Madam / Dear Sir,
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Discontinuation/Merger/Online Submission of Returns
Please refer to the Press Release dated February 18, 2022 issued on the captioned subject.
2. As part of the implementation of the interim recommendations of the RRA 2.0, it is proposed to convert the paper based/ e-mail-based returns listed in the Annex 1 to online filing. The exact date of online filing of the returns listed in the Annex 1 would be notified in due course. Till such time, the returns may continue to be submitted as hitherto.
3. Further, banks are advised to discontinue submission of returns as mentioned in Annex 2.
Yours faithfully,
(Neeraj Nigam)
Chief General Manager-in-Charge
Encl: As above
Annex – 1
List of Returns to be converted into Online submission
| S.No | Return Name | Return Description | Reporting Entities |
| 1 | Report on issue of Subordinated Debt, raising of Upper Tier II Capital, Perpetual Debts and Equity Capital (Qualified Institutional Placements-QIP, Preferential issue to Promoters, GDR issue) together with copy of document | Report on issue of Subordinated Debt, raising of Upper Tier II Capital, Perpetual Debts and Equity Capital (Qualified Institutional Placements-QIP, Preferential issue to Promoters, GDR issue) together with copy of document | All Commercial Banks (Excluding Local Area Banks and RRBs) |
| 2 | Payment of dividend | Details of dividend declared during the financial year and other details as per the circular | SCBs (excluding RRBs) |
| 3 | Form II | Monthly return claiming refund from the DEA Fund (Original hardcopy to be submitted by 15th of the succeeding month to which the claim pertains) | SCBs (including RRBs), Local Area Banks, UCBs, StCBs, DCCBs, SFBs and PBs |
| 4 | Form III | Certificate of reconciliation of balances for the Half Year ended June/December to be submitted by banks not later than July 31 and January 31 | SCBs (including RRBs), Local Area Banks, UCBs, StCBs, DCCBs, SFBs and PBs |
| 5 | Annual Certificate | A yearly return certified by statutory auditor and to be submitted by banks in original within one month from the date of completion of their annual audit | SCBs (including RRBs), Local Area Banks, UCBs, StCBs, DCCBs, SFBs and PBs |
| 6 | Certificate regarding continuance of the “fit and proper” status of all major shareholder | Certificate regarding continuance of the “fit and proper” status of all major shareholders. In case any major shareholder is assessed to be not “fit and proper”, the concerned bank shall report the same immediately in Form D specified in the Schedule to extant Master Directions | All Private Sector Banks including Local Area Banks |
Annex – 2
List of Returns – Discontinuation of submission to DoR
| S.No | Return Name | Return Description | Reporting Entities |
| 1 | Leverage Ratio reporting (Master Circular – Basel III Capital Regulations – DBR.No.BP.BC.1/21.06.201/2015-16) dated July 1, 2015) |
Para 16.5.2 of Master Circular on ‘Basel III Capital Regulations’ require banks to report their leverage ratio to the RBI (DoR and DoS) on a quarterly basis.@ | All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) |
| @ Beginning from quarter ended March 2022, banks are not required to report the Leverage Ratio to DoR. As hitherto, banks shall continue to report the Leverage Ratio to DoS. | |||
| 2. | Table 34 (Distribution of offices population/group wise) | Table 34 (Distribution of offices population/group wise) is reported to Regional Offices of RBI and DSIM (erstwhile DESACS) # | State Cooperative Banks (StCBs), District Central Cooperative Banks (DCCBs) |
| # Beginning from year ended March 2022, banks are not required to submit this return to Regional Offices of RBI. As hitherto, banks shall continue to report the data to DSIM through Central Information System for Banking Infrastructure (CISBI) portal. | |||
****
RESERVE BANK OF INDIA
RBI/2021-22/169
DoR.RRA.89/01.01.101/2021-22
February 18, 2022
All Scheduled Commercial Banks
All Payments Banks
All Small Finance Banks
All Local Area Banks
Madam / Dear Sir,
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Withdrawal of Circulars
Please refer to the Press Release dated February 18, 2022 issued on the captioned subject.
2. The circulars listed in the Annexure are withdrawn with effect from close of business today.
Yours faithfully,
(Neeraj Nigam)
Chief General Manager-in-Charge
Encl: As above
Annexure
List of Circulars withdrawn
| Sr No. | Circular No. | Date | Subject |
| 1 | DBOD.No.Rem.2319/ C.318(B)-59 | March 26, 1959 | Section 35B of the Banking Companies Act, 1949 |
| 2 | DBO.No.Rem.8647/ C.318(C)-59 | November 13, 1959 | Section 35B of the Banking Companies Act, 1949 |
| 3 | DBO.No.Rem.8073/ C.318(B)-64 | June 30, 1964 | Section 35B of the Banking Companies Acts, 1949 |
| 4 | DBOD.No.Leg.185/ C.233-68 | August 21, 1968 | Appointment of Whole-Time Officers or Employees as Directors or Part-Time Employees of Companies |
| 5 | DBOD.No.ARS.BC.75/ C.318(C)-72 | September 02, 1972 | Section 35B of the Banking Regulation Act, 1949 |
| 6 | DBOD.No.App.BC.24/ C.234(B)-76 | February 20, 1976 | Appointment of Whole-time Officers or Employees as Directors or Part-time Employees of Companies |
| 7 | DBOD.No.App.BC.1(A)/ C.234(B)-77 | January 06, 1977 | Appointment of Whole-time Officers or employees as Directors or Part-time Employees of Companies |
| 8 | DBOD.No.App.BC.16/ C.234(B)-81 | January 27, 1981 | Appointment of Whole-time Officers or Employees as Directors of Assisted Companies |
| 9 | DBOD.No.App.BC.17/ C.234(B)-82 | February 27, 1982 | Appointment of Whole-time Officers or Employees as Directors of Other Companies/Corporations, etc. |
| 10 | DBOD.No.App.BC.47/ C.318(C)-83 | June 07, 1983 | Section 35B of the Banking Regulation Act, 1949 |
| 11 | DBOD.No.BP.BC.61/ C.469(35B)-83 | July 19, 1983 | Government Instructions regarding Venues of Board Meetings etc. |
| 12 | DBOD.No.App.671/ C.452(F)-85 | January 04, 1985 | Local Advisory Boards (LABs) of Foreign Banks Operating in India – Functions and Working – Revised Guidelines |
| 13 | DBOD.No.1177/ 08.95.004/93 | April 27, 1993 | Board of Directors |
| 14 | DBOD.No.1214/ 08.94-002/93 | May 11, 1993 | Section 35B of the Banking Regulation Act, 1949 -Appointment/Reappointment of Chief Executive Officer in India – Terms and Conditions, etc. |
| 15 | DBOD.No.1309/ 08.95.005/93 | May 31, 1993 | Local Advisory Board |
| 16 | DBOD.No.615/ 08.95.005/94 | January 13, 1994 | Local Advisory Boards (LABs) of Foreign Banks Operating in India – Functions and Working |
| 17 | DBOD.No.BC.22/ 08.95.005/94 | March 05, 1994 | Local Advisory Boards (LABs) of Foreign Banks Operating in India – Appointment of Chairmen/ Members |
| 18 | DBOD.No.BC.83/ 08.95.005/94 | July 01, 1994 | Local Advisory Board |
| 19 | DBOD.No.BC.22/ 08.95.005/2002-03 | August 27, 2002 | Local Advisory Board |
| 20 | DBOD.No.Ret.BC.129/ C.96(Ret)-85 | October 25, 1985 | Section 42 of RBI Act, 1934 – CRR – Rate of Interest |
| 21 | DBOD.No.Ret.BC.41/ C.96(Ret)-91 | October 08, 1991 | Section 42 of the Reserve Bank of India Act, 1934 -Cash Reserve Ratio (CRR) – Interest on Banks’ Cash Balances with the Reserve Bank of India |
| 22 | DBOD.No.BC.7/ 12.01.001/97 | January 16, 1997 | Section 42 of Reserve Bank of India Act, 1934 – Payment of Interest on specified Additional Cash Balances Maintained with Reserve Bank of India |
| 23 | DBOD.No.BC.62/ 12.01.01/96-97 | June 03, 1997 | Section 42 of the RBI Act, 1934 – Revised Format for Submission of Quarterly Ad hoc Interest Claims on Eligible CRR Balances |
| 24 | DBOD.No.BC.156/ 12.01.001/97-98 | December 23, 1997 | Section 2 of the RBI Act, 1934 – Revised Format for Submission of Quarterly Ad hoc Interest Claims on Eligible CRR Balances |
| 25 | DBOD.BC.21/ 12.01.001/98-99 | March 10, 1999 | Section 42 of the Reserve Bank of India Act, 1934 – Submission of Final Form A for Reporting Fortnights and Quarterly Adhoc Interest Claim on Eligible Cash Balances |
| 26 | DBOD.No.BC.40/ 12.01.001/99-2000 | April 24, 1999 | Section 42 of RBI Act, 1934 – Specimen Signatures of Officials Authorised to Sign Quarterly Interest (on CRR Balances) Claim Statements |
| 27 | DBOD.BC.131/ 12.01.001/1999-2000 | December 28, 1999 | Section 42 of the RBI Act 1934 – Revised Format for Submission of Quarterly Adhoc Interest Claim on Eligible CRR Balances |
| 28 | DBOD.CO.Ret.BC.57/ 12.05.005/2002-03 | January 11, 2003 | Introduction of New Software for Form A Returns – Revised Version |
| 29 | DBOD.Ret.BC.No.79/ 12.01.001/2002-03 | March 07, 2003 | Section 42 of the RBI Act, 1934 – Payment of Interest on Eligible CRR Balances on Monthly basis – Revision in the Format for Submission of Interest Claim – Introduction of New software for Form A |
| 30 | DBOD.No.Ret.BC.98/ 12.01.001/2003-04 | June 18, 2004 | Section 42 of the RBI Act, 1934 – Revision of Procedure for Payment of Interest on the Eligible CRR Balances on Monthly Basis |
| 31 | DBOD.No.Dir.BC.162/ 13.01.09/96 | December 24, 1996 | Conversion of FCNR/NRE Accounts of the Returning Indians to RFC Accounts – Payment of Interest |
| 32 | DBOD.No.Dir.BC.7/ 13.01.09/98 | January 20, 1998 | Conversion of FCNR(B) Accounts of the Returning Indians into RFC Accounts/Resident Rupee Accounts – Payment of Interest |
| 33 | DBOD.No.GCS.BC.86/ C.486-73 | July 27, 1973 | Grant of Lumpsum Awards For Passing Hindi TypeWriting/Stenography Examinations |
| 34 | DBOD.No.BC.51/ 06.02.01/98 | June 02, 1998 | Formation of Hindi Cadre and Filling up of Hindi Posts |
| 35 | DBOD.BC.60/ 06.02.01/98-99 | June 08, 1999 | Town Official Language Implementation Committee – Use of Hindi in Banks -Meetings of Office/Branch level Official Language Implementation Committees |
| 36 | DBOD.BC.No.68/ 06.11.04/98-99 | July 07, 1999 | Computerised Compilation of Quarterly Progress Reports regarding Progressive Use of Hindi in Banks |
| 37 | DBOD.BC.90/ 06.11.04/99-2000 | September 18, 1999 | Preparation of Bilingual Data Processing Software for Branches of Public Sector Banks |
| 38 | DBOD.BC.No.94/ 06.07.03/99-2000 | September 30, 1999 | Guidelines for Periodicals |
| 39 | DBOD.BC.No. 01/ 06.11.04/99-2000 | January 06, 2000 | Display hoarding in hindi |
| 40 | DBOD.BC.No.146/ 06.11.04/99-2000 | March 08, 2000 | Working in Hindi on Computers |
| 41 | DBOD.BC.No.162/ 06.11.04/99-2000 | April 03, 2000 | Implementation of Rajbhasha Policy in Banks -Constitution of Internal Standing Working Groups |
| 42 | DBOD.BC.No.185/ 06.11.04/99-2000 | June 21, 2000 | Revised Proforma for Quarterly Progress Reports regarding use of Hindi in Banks – Computerised Compilation of QPR |
| 43 | DBOD.BC.No.10/ 06.11.04/2000-01 | July 25, 2000 | Revised Proforma for Quarterly Progress Reports regarding use of Hindi in banks – Part II |
| 44 | DBOD. 160 / 06.11.04/2000-01 | September 12, 2000 | Implementation of Rajbhasha policy in banks -Internet facility to Rajbhasha Departments |
| 45 | DBOD.BC.55/ 06.11.04/2000-01 | November 27, 2000 | QPR regarding Progressive Use of Hindi – Inclusion of Data on Computerised Branch |
| 46 | DBOD.No.BC.89/ 06.11.04/2000-01 | March 15, 2001 | Implementation of Rajbhasha Policy in Banks – Honourable Prime Minister’s Directions for Increasing Use of Hindi in the Official Work |
| 47 | DBOD.No.BC.40/ 06.11.04/2001-02 | October 31, 2001 | 89th Meeting of Official Language Implementation Committee of Public Sector Banks – Follow-up Action – Use of Computers for Work in Hindi |
| 48 | DBOD.BC.No.83/ 06.11.04/2001-02 | March 27, 2002 | Work in Hindi on Computers – Guidelines |
| 49 | DBOD.No.BC.16/ 06.11.04/2002-03 | August 09, 2002 | Hindi in Internal Work of Banks – Recommendations of the Group on Reporting System |
| 50 | DBOD.No.BC.49/ 06.11.04/2002-03 | December 13, 2002 | Honourable Prime Minister’s letter for Mentioning about the Commendable Work done in Hindi by the Bank Officers in their Annual Confidential Reports |
| 51 | DBOD.No.BC.77/ 06.11.04/2002-03 | March 05, 2003 | Data Processing in Hindi in Banks |
| 52 | DBOD.No.14/ 06.02.10/2003-04 | July 16, 2003 | Branches under rule 10(4) of OL Rule 1976 – Notification of Offices – Sending legible list of branches |
| 53 | DBOD.No.121/ 06.02.01/2003-04 | September 30, 2003 | Regarding computer details in banks, entries in passbooks/accounts, details on ATM cards and many forms only in English |
| 54 | DBOD.No.250/ 06.11.04/2003-04 | December 30, 2003 | Inspection by PC on OL – Creation of Hindi cadre and filling up of Hindi posts |
| 55 | DBOD.No.Rajbhasha BC.39/ 06.11.04/2008-09 | September 01, 2008 | Orders of the President of India on the Recommendations made by the Parliamentary Committee on Official Language in the 8th volume of its Report |
RESERVE BANK OF INDIA
RBI/2021-2022/170
CO.DSIM.SMD.No.S482/05-06-004/2021-22
February 18, 2022
SCBs (including Regional Rural Banks)
and Payment Banks
Madam / Dear Sir,
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Second Tranche
Please refer to the press release dated February 18, 2022 issued on the captioned subject.
2. As part of the implementation of the interim recommendations of the RRA 2.0, it is proposed to convert, the paper based/ e-mail-based return listed in the Annex, into online filing.
3. The exact date of discontinuation/merger and online filing of the returns, would be notified in due course.
Yours faithfully,
(Ajit Ratnakar Joshi)
Principal Adviser
Department of Statistic and Information Management
Central Office, Reserve Bank of India
Encl: As above
Annex
List of Return to be converted into Online submission
| S. No. | Return Name | Return Description |
| 1 | Banking service price index | The statement comprises of data related to fees income and fee charges for banking services provided by the bank and selective data on deposits and loans |
RESERVE BANK OF INDIA
RBI/2021-2022/172
A.P. (DIR Series) Circular No.26
February 18, 2022
All Authorised Persons
Madam / Dear Sir,
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Discontinuation/Merger/Online Submission of Returns
Please refer to the press release dated February 18, 2022 issued on the captioned subject.
2. As part of the implementation of the interim recommendations of the RRA 2.0, it is proposed to discontinue/merge the returns listed in the Annex 1. Further, it is also proposed to convert, the paper based/ e-mail-based returns listed in the Annex 2, into online filing.
3. The exact date of discontinuation/merger and online filing of the returns, would be notified in due course.
Yours faithfully,
(Ajay Kumar Misra)
Chief General Manager-In- Charge
Encl: As above
Annex – 1
List of Returns to be Discontinued/ Merged
| S.No. | Return Name | Return Description |
| 1 | Details of guarantee availed and invoked of from non-resident entities | Non-resident guarantee for fund based and non-fund based facilities (such as Letters of Credit/guarantees/Letter of Undertaking (LoU) /Letter of Comfort (LoC) entered into between two persons resident in India. |
Annex – 2
List of Returns to be converted into Online submission
| S. No. | Return Name | Return Description |
| 1 | FII Weekly | All AD banks advised to report inflow/ of outflow of foreign funds on account of investment by FIIs/FPIs in the Indian capital market in a format which consists of two parts: Part A: Inflow/outflow- Fund Position and Part B: Residual Maturity Pattern |
| 2 | MTSS | Statement showing details of remittances received through Money Transfer Service Scheme during the quarter ended, within 15 days from the close of the quarter to which it relates. |
| 3 | Statement on default in MTT | Statement on default in Merchanting Trade Transactions (MTT) |
| 4 | Details of remittances made by NRO account | Remittances made out of NRO accounts up to 1 million USD per calendar year – Facilities to NRIs/PIOs and foreign nationals – liberalisation |
| 5 | Overseas Principal-wise list of Sub Agents | Overseas principal-wise list of sub-agents of MTSS Indian Agents |
| 6 | Declaration confirming the veracity of the list placed on RBI website | Confirmation of veracity of the list of sub-agents |
| 7 | List of additional locations | List of additional locations of MTSS Agents |
| 8 | Statement of Foreign Currency Account/s maintained in India in their names with AD Category-I Banks out of export proceeds of Foreign Currency Notes/ encashed Travelers’ Cheques | Statement of Foreign Currency Account/s maintained in India in their names with AD Category-I Banks out of export proceeds of Foreign Currency Notes/ encashed Travelers’ Cheques |
| 9 | Statement of the amount of foreign currency written off during a financial year | Statement of the amount of foreign currency written off during a financial year |
| 10 | Form RMC-F | RMC- Restricted Money Changing |
| 11 | Statement of the collateral held by MTSS Indian Agents | Statement of the collateral held by MTSS Indian Agents |
| 12 | Details of Online Payment Gateway Service Providers (OPGSP) arrangements | Details of Online Payment Gateway Service Providers (OPGSP) arrangements |
| 13 | Extension of time in respect of clean credit for import of rough, cut and polished diamonds | Extension of time in respect of clean credit for import of rough, cut and polished diamonds |
| 14 | Advance remittances made for import of rough diamonds without a bank guarantee or standby letter of credit, where the amount of advance payment is equivalent to or exceeds USD 5,000,000/- | Advance remittances made for import of rough diamonds without a bank guarantee or standby letter of credit, where the amount of advance payment is equivalent to or exceeds USD 5,000,000/- |
| 15 | ESOP reporting | “Statement of shares repurchased by the issuing foreign company from Indian employees/ Directors under ESOP Schemes for the year ended March 31, …………. (Year) |
| (to be submitted on the letterhead of the Indian Company / Office / Branch through their AD bank)” | ||
| 16 | FLM-8 (Sale and purchase of foreign currency) | Summary statement of purchases and sale of foreign currency notes during the month reported by FFMCs and AD-Category II. |
| 17 | LO/BO/PO | Consolidated list of all the Branch Office (BO)/ Liaison Office (LO) / Project Office (PO) opened and closed by them during a month |
| 18 | Reporting of Long term Advance | Reporting of Long term Advance of USD 100 million & more along with Progress Report to be submitted by Authorised Dealer Bank on utilization of Long term export Advances |
| 19 | Form ECB | Application and Reporting of loan agreement details |
| 20 | Form ECB 2 | Reporting of actual ECB transactions through AD Category -1 banks |
| 21 | Form TC | Compilation of short-term credit extended for imports and payments thereof |
RESERVE BANK OF INDIA
RBI/2021-22/173
FMRD.DIRD.13/14.03.59/2021-22
February 18, 2022
To
All Eligible Market Participants
Madam / Dear Sir
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Online Submission of Returns
Please refer to the press release dated February 18, 2022 issued on the captioned subject.
2. As part of the implementation of the interim recommendations of the RRA 2.0, it is proposed to convert the paper based/ e-mail-based returns listed in the Annex to online filing. The exact date of online filing of the returns listed in the Annex would be notified in due course. Till such time, the returns may continue to be submitted as hitherto.
Yours faithfully,
(Dimple Bhandia)
Chief General Manager
Encl: As above
Annex
List of Returns to be converted into Online submission
| S.No. | Return Name | Return Description | Reference regulatory provision |
| 1. | FCY-Rupee Option Transactions | Return contains the details related to i) Option Transaction Report related to trade and client, ii) Option Position Report of FCY/INR includes USD/ EUR/ JPY to INR, iii) Change in Portfolio Delta Report and iv) Strike Concentration Report at different maturity buckets for AD-I banks. | Part E, Para (v) of the Master Direction – Risk Management and Inter-Bank Dealings dated July 05, 2016. |
| 2. | List of Offices/Branches of AD Bank Maintaining Rupee Accounts of Non-Resident Banks | Return contains the granular level information on list of all offices/branches, of an AD bank, which are maintaining Rupee accounts of non-resident banks. | Part E, Para (x) of the Master Direction – Risk Management and Inter-Bank Dealings dated July 05, 2016. |
| 3. | Suspicious Transactions undertaken by Non-Resident Importer/Exporter | Returns covers the information pertaining to Doubtful transactions involving frequent cancellation of hedge transactions and / or the underlying trade transactions. | Part E, Para (xiii) of the Master Direction – Risk Management and Inter-Bank Dealings dated July 05, 2016. |
| 4. | Interest Rate Risk Positions for clients | Return captures the details related to Interest Rate Risk (IRR) Positions for clients having outstanding derivative of Rs.10 billion. | Para 13(3) of the Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019 dated June 26, 2019. |
| 5. | Cross-border remittances arising out of Rupee interest rate derivatives transactions undertaken by non-residents | Return contains the details related to Cross-border remittances arising out of Rupee interest rate derivatives transactions undertaken by non-residents. | Para 13(4) of the Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019 dated June 26, 2019. |
| 6. | FX transactions with clients across various channels | Return captures the information on distribution of customer transactions (across FX-Retail, other electronic trading platforms and other channels) and the fees charged for them. | Para 5 of notification no. FMRD.FMD.16/02.03.225/2018-19 dated June 20, 2019. |
