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.

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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 The circulars listed in the Annexure are withdrawn with effect from close of business today.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

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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

***

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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

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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).

RBI Withdraws 100 Circulars & Identified 65 Return for discontinuing-merging or converting into online returns

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.

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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

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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.

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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.

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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.

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