RBI master circulars

Anti-money laundering Act: RBI tightens KYC norms for politically Exposed Person

Fema / RBI - WITH the Prevention of Money Laundering (Amendment) Act, 2009 (No 21 of 2009) coming into force from June 1, the RBI has advised all NBFCs to maintain records of clients for a period of 10 years from the date of transaction. The NBFCs will have keep records of the Identity of the Clients, both domestic or international, which will permit ...

Read More

Minutes of Monetary Policy Committee Meeting December 5-6, 2017

Fema / RBI - The eighth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act, 1934, was held on December 5 and 6, 2017 at the Reserve Bank of India, Mumbai....

Read More

Items excluded from Capital Market Exposure

Fema / RBI - On a review, it has been decided to include the National Payments Corporation of India. (NPCI) and United Stock Exchange of India Ltd.(USEIL) as part of institutions forming crucial financial infrastructure. Accordingly, banks’ investments in NPCI and USEIL will also be excluded from the aggregate Capital Market Exposure ceiling of 40 p...

Read More

Anti-money laundering Act: RBI tightens KYC norms for politically Exposed Person

Fema / RBI - WITH the Prevention of Money Laundering (Amendment) Act, 2009 (No 21 of 2009) coming into force from June 1, the RBI has advised all NBFCs to maintain records of clients for a period of 10 years from the date of transaction. The NBFCs will have keep records of the Identity of the Clients, both domestic or international, which will permit ...

Read More

RBI Responsible for Monitoring Compliance of Loan Moratorium Circular: HC

Velankani Information Systems Limited Vs Secretary, Ministry of Home Affairs (Karnataka High Court) - The contentions of the RBI that the dispute is between the Petitioner and Respondents is not acceptable since the dispute arises out of the implementation or not of a Circular issued by the RBI. RBI is therefore directed to monitor the implementation of the Circular, including verification of whethe...

Read More

RBI Releases Revised Priority Sector Lending Guidelines

RBI/FIDD/2020-21/72 Master Directions FIDD.CO.Plan.BC.5/04.09.01/2020-21, Press Release No. 2020-2021/284 - (04/09/2020) - Reserve Bank of India has comprehensively reviewed the Priority Sector Lending (PSL) Guidelines to align it with emerging national priorities and bring sharper focus on inclusive development, after having wide ranging discussions with all stakeholders....

Read More

Exchange soiled / mutilated / defective notes & Accept Coins: RBI to Banks

RBI/2020-21/07 DCM (NE) No.G-3/08.07.18/2020-21 - (01/07/2020) -  All branches of banks in all parts of the country are mandated to (i) Issuing fresh / good quality notes and coins of all denominations on demand, (ii) Exchanging soiled / mutilated / defective notes, and (iii) Accepting coins and notes either for transactions or exchange....

Read More

Master Circular 2020- Disbursement of Government Pension by Agency Banks

RBI/2020-21/06 DGBA.GBD.No.01/31.02.007/2020-21 - (01/07/2020) - Reserve Bank of India RBI/2020-21/06 DGBA.GBD.No.01/31.02.007/2020-21 July 01, 2020 All Agency Banks Dear Sir/Madam Master Circular – Disbursement of Government Pension by Agency Banks Please refer to our Master Circular RBI/2019-20/57 dated September 9, 2019 on the above subject. We have no...

Read More

Master Circular 2020– Lead Bank Scheme

RBI/2020-21/05 FIDD.CO.LBS.BC.No.1/02.01.001/2020-21 - (01/07/2020) - Lead Bank Scheme was introduced by the Reserve Bank of India in December 1969. The Scheme aims at coordinating the activities of banks and other developmental agencies through various fora in order to achieve the objective of enhancing the flow of bank finance tothe pr...

Read More

Master Circular 2020 – Detection & Impounding of Counterfeit Notes

RBI/2020-21/04 DCM (FNVD) G–2/16.01.05/2020-21 - (01/07/2020) - Notes determined as counterfeit shall be stamped as COUNTERFEIT NOTE and impounded in the prescribed format . Each such impounded note shall be recorded under authentication, in a separate register....

Read More

Recent Posts in "RBI master circulars"

RBI Releases Revised Priority Sector Lending Guidelines

RBI/FIDD/2020-21/72 Master Directions FIDD.CO.Plan.BC.5/04.09.01/2020-21, Press Release No. 2020-2021/284 (04/09/2020)

Reserve Bank of India has comprehensively reviewed the Priority Sector Lending (PSL) Guidelines to align it with emerging national priorities and bring sharper focus on inclusive development, after having wide ranging discussions with all stakeholders....

Read More

RBI Responsible for Monitoring Compliance of Loan Moratorium Circular: HC

Velankani Information Systems Limited Vs Secretary, Ministry of Home Affairs (Karnataka High Court)

The contentions of the RBI that the dispute is between the Petitioner and Respondents is not acceptable since the dispute arises out of the implementation or not of a Circular issued by the RBI. RBI is therefore directed to monitor the implementation of the Circular, including verification of whether there are Board-approved policies form...

Read More

Exchange soiled / mutilated / defective notes & Accept Coins: RBI to Banks

RBI/2020-21/07 DCM (NE) No.G-3/08.07.18/2020-21 (01/07/2020)

 All branches of banks in all parts of the country are mandated to (i) Issuing fresh / good quality notes and coins of all denominations on demand, (ii) Exchanging soiled / mutilated / defective notes, and (iii) Accepting coins and notes either for transactions or exchange....

Read More

Master Circular 2020- Disbursement of Government Pension by Agency Banks

RBI/2020-21/06 DGBA.GBD.No.01/31.02.007/2020-21 (01/07/2020)

Reserve Bank of India RBI/2020-21/06 DGBA.GBD.No.01/31.02.007/2020-21 July 01, 2020 All Agency Banks Dear Sir/Madam Master Circular – Disbursement of Government Pension by Agency Banks Please refer to our Master Circular RBI/2019-20/57 dated September 9, 2019 on the above subject. We have now revised and updated the Master Circula...

Read More

Master Circular 2020– Lead Bank Scheme

RBI/2020-21/05 FIDD.CO.LBS.BC.No.1/02.01.001/2020-21 (01/07/2020)

Lead Bank Scheme was introduced by the Reserve Bank of India in December 1969. The Scheme aims at coordinating the activities of banks and other developmental agencies through various fora in order to achieve the objective of enhancing the flow of bank finance tothe priority sector and other sectors and...

Read More

Master Circular 2020 – Detection & Impounding of Counterfeit Notes

RBI/2020-21/04 DCM (FNVD) G–2/16.01.05/2020-21 (01/07/2020)

Notes determined as counterfeit shall be stamped as COUNTERFEIT NOTE and impounded in the prescribed format . Each such impounded note shall be recorded under authentication, in a separate register....

Read More

Master Circular 2020 on Conduct of Government Business by Agency Banks – Payment of Agency Commission

RBI/2020-21/03 DGBA.GBD.No.2/31.12.010/2020-21 (01/07/2020)

Transactions relating to the following government business undertaken by agency banks are eligible for agency commission paid by RBI: a. Revenue receipts and payments on behalf of the Central/State Governments b. Pension payments in respect of Central / State Governments and c. Any other item of work specifically advised by Reser...

Read More

Master Circular 2020 on SHG-Bank Linkage Programme

RBI/2020-21/02 FIDD.FID.BC.No.02/12.01.033/2020-21 (01/07/2020)

Banks should provide adequate incentives to their branches in financing the Self Help Groups (SHGs) and establish linkages with them, making the procedures simple and easy. The group dynamics of working of the SHGs need neither be regulated nor formal structures imposed or insisted upon....

Read More

Amendment to Master Direction on KYC due to PML Rules /introduction of V-CIP

Notification No. RBI/2019-20/138 DOR.AML.BC.No.27/14.01.001/2019-20 (09/01/2020)

The process of V-CIP has been specified in Section 18 in terms of which, REs may undertake live V-CIP, to be carried out by an official of the RE, for establishment of an account based relationship with an individual customer, after obtaining his informed consent and shall adhere to the following stipulations:...

Read More

RBI amends Master Directions-NBFC – Peer to Peer Lending Platform

RBI/2019-20/121 DOR.NBFC(PD) CC.No.106/03.10.124/2019-20 (23/12/2019)

On a review, it has been decided that (i) The aggregate exposure of a lender to all borrowers at any point of time, across all P2P platforms, shall be subject to a cap of ₹ 50,00,000 provided that such investments of the lenders on P2P platforms are consistent with their net-worth....

Read More

Browse All Categories

CA, CS, CMA (4,991)
Company Law (6,655)
Custom Duty (8,023)
DGFT (4,367)
Excise Duty (4,399)
Fema / RBI (4,406)
Finance (4,649)
Income Tax (34,768)
SEBI (3,719)
Service Tax (3,604)

Search Posts by Date

October 2020
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031