RBI master circulars - Page 20

RBI cuts SLR for RRBs to 24 per cent

RBI/ 2010-11/332, RPCD.CO.RRB. BC. No. 43 / 03.05.28(B)/ 2010-11 (27/12/2010)

The Reserve Bank today announced reduction of Statutory Liquidity Ratio (SLR), requirement for lenders to keep a portion of deposits in government securities, cash and gold, by one percentage point to 24 per cent for regional rural banks (RRBs).This ...

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RRBs – Submission of Data to Credit Information Companies – Format of Data to be submitted by Credit Institutions

RBI/2010-11/331, RPCD.CO RRB.BC.No. 41 /03.05.33/2010-11 (24/12/2010)

It is therefore, advised that RRBs which have become members of the above credit information company / companies may provide them the current data in the existing format. Such RRBs may also provide historical data in order to enable the new credit information companies to validate their software and develop a robust database....

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RBI circular to Regional Rural banks on Operation of bank accounts and money mules

RPCD.CO RRB.AML.BC.No.40/ 03.05.33(E)/2010-11 (24/12/2010)

In a money mule transaction, an individual with a bank account is recruited to receive cheque deposits or wire transfers and then transfer these funds to accounts held on behalf of another person or to other individuals, minus a certain commission payment. Money mules may be recruited by a variety of methods, including spam e-mails, adver...

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RBI circular on Financial Assistance to Senior Citizens, Widows and Handicapped persons

RBI/2010-11/328, RPCD.CO.RRB.BC No. 38/ 03.05.33/2010-11 (24/12/2010)

Please refer to our circulars RPCD. CO. No. RRB. BC. 57/ 03.05.33(F)/ 2005-06 dated December 27, 2005 and RPCD. CO. FID. BC. No. / 12.01.012/ 2010-11 (RBI/ 2010-11/ 253 dated November 1, 2010, in terms of which RRBs are permitted to handle pension accounts and other government business as sub-agents; and to open the accounts of beneficiar...

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RTGS System – Use of NEFT Customer Facilitation Centers

RBI/2010-11/327, DPSS (CO) RTGS No. 1433/04.04.002/2010-2011 (24/12/2010)

You are aware that there has been a remarkable growth of customer transactions in RTGS over the years, with currently more than 1,50,000 customer transactions being settled on a daily average in the RTGS system. As the RTGS system handles large value and time critical transactions, all member banks need to address the customer complaints ...

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RBI increases LTV Ratio, Risk Weight and Provisioning in respect of Housing Loans by Commercial Banks

RBI No.2010-11/324 DBOD.No.BP.BC. 69 /08.12.001/2010-11 (23/12/2010)

It has been observed that some banks are following the practice of sanctioning housing loans at ‘teaser rates’, wherein the loans are offered at a comparatively lower rate of interest in the first few years, after which rates are reset at higher rates. This practice raises concern as some borrowers may find it difficult to service the...

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Use of International Debit Cards/ Store Value Cards/Charge Cards/Smart Cards by resident Indians while on a visit outside India

RBI/2010-11/323 A.P. (DIR Series) Circular No. 29 (22/12/2010)

It has been decided to discontinue the submission of the statement mentioned above to the Reserve Bank. Accordingly, all the banks authorised to deal in foreign exchange are advised to discontinue the submission of the afore-mentioned statement from the calendar year 2010 onwards....

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RBI Directions for opening and operation of Accounts and settlement of payment for electronic payment transactions involving intermediaries

DPSS.CO.OSD. No. 1381/06.08.001/2010-2011 (20/12/2010)

Please refer to our circular Ref no. 1102/02.14.08/2009-10 dated November 24, 2009 on the captioned subject. In this regard you are advised to forward us a complete list of intermediaries accounts maintained with your bank by 5th January 2011....

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SEBI allows Acceptance of Third Party Address as Correspondence Address

CIR/MRD/DP/ 37 /2010 (14/12/2010)

This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 read with Section 19 of the Depositories Act, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market....

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StCBs/DCCBs – Know Your Customer Guidelines – Salaried Employees

RBI/2010 -11/307 RPCD.CO.RCB.AML.BC. No.37/07.40.00/2010-11 (10/12/2010)

These guidelines are issued under Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and Rule 7 of Prevention of Money-Laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenan...

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September 2020