RBI master circulars - Page 30

Grant of ‘Certificate of Registration’ – For commencing business of credit information – Experian Credit Information Company of India Private Ltd

RBI/2009-10/345 , DBOD.No.DL.15214 /20.16.042/2009-10 (09/03/2010)

As you are aware, Credit Information Bureau of India Ltd.(CIBIL) has been functioning as a Credit Information Company (CIC) from January 2001 onwards and banks and Financial Institutions have been reporting data to CIBIL as per our letters DBOD No. DL.BC.111/20.16.001/2001-02 and DBOD No. DL.BC.29 /20.16.002/2002-03 dated June 04, 2002 an...

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Investment Portfolio of Primary Dealers – Extension of HTM Category for PDs

RBI/2009-10/343, IDMD.PDRD.No.3843/03.64.00/2009-10 (09/03/2010)

Banks undertaking PD activities departmentally may continue to follow the extant guidelines applicable to banks in regard to the classification and valuation of the investment portfolio issued by our Department of Banking Operations and Development....

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Repayment of Gold Loan

RBI/2009-10/342 RPCD.CO.RF.BC.No.60/07.37.02/2009-10 (05/03/2010)

State and Central Co-operative Banks grant loans for various purposes against the security of gold /gold ornaments as part of their lending policy. As per extant instructions (c.f. our circular RPCD.RF.BC.No.69/07.37.02/2002-03 dated January 31, 2003), banks charge interest at monthly rests on loans and advances granted for purposes other...

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Provisioning Requirement by Regional Rural bank for Standard Assets

RBI/2009-10/337, RPCD.RRB.No.BC. 61/ 03.05.34/2009-10 (04/03/2010)

It was proposed to increase the provisioning requirement for advances to the Commercial Real Estate (CRE) sector classified as ‘standard assets’ to 1.00 per cent with a view to building cushion against likely non-performing assets (NPAs). Accordingly, it has been decided to increase the provisioning requirement for advances to the CRE...

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UCBs – Payment of Interest on Savings Bank Account on Daily Product Basis from 01.04.2010

RBI/2009-10/339, UBD (PCB) BPD.Cir.No. 48/13.01.000 / 2009-10 (04/03/2010)

Please refer to our circular UBD (PCB) BPD.Cir.No. 7/13.01.000/2009-10 dated September 1, 2009 advising banks to put in place requisite infrastructure so that transition to the revised procedure of calculating interest on balances in savings bank accounts on a daily product basis could be implemented smoothly....

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RBI Circular No.38 on External Commercial Borrowings (ECB) Policy

RBI/2009-10/333, A.P. (DIR Series) Circular No.38 (02/03/2010)

As per the extant ECB policy, infrastructure sector is defined as (i) power, (ii) telecommunication, (iii) railways, (iv) road including bridges, (v) sea port and airport, (vi) industrial parks, (vii) urban infrastructure (water supply, sanitation and sewage projects) and (viii) mining, exploration and refining....

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External Commercial Borrowings (ECB) Policy – Infrastructure

RBI/2009-10/333 , A.P. (DIR Series) Circular No.38 (02/03/2010)

As announced in para 54 of the Union Budget for the Year 2010-11, it has been decided to expand the definition of infrastructure sector, for the purpose of availing of ECB, to include “cold storage or cold room facility, including for farm level pre-cooling, for preservation or storage of agricultural and allied produce, marine product...

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Review of bilateral clearing arrangements between banks – Regional Rural Banks

RBI/2009-10/332, RPCD.CO RRB.BC.No.58/03.05.33/2009-10 (02/03/2010)

As you are aware, for convenient, cost-effective and quick processing and settlement of clearing instruments arising out of normal business activities of banks, an elaborate Clearing House infrastructure is in place in the country. Currently operational at most locations across the length and breadth of the country, Clearing Houses facili...

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Report of the High Level Committee to Review Lead Bank Scheme-Implementation of the recommendations

RBI/2009-10/329, RPCD.CO.LBS.HLC.BC.No.56 /02.19.10/2009-10 (26/02/2010)

Over a period of four decades, since the inception of the Lead Bank Scheme (LBS), several changes have taken place necessitating a relook at the scheme to make it more effective in the changed economic scenario with sharper focus on financial inclusion and recent developments in the banking sector. A High Level Committee to review Lead Ba...

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Overseas Investment Application – Online Reporting of Overseas Direct Investment in Form ODI

RBI/2009-10/324, A.P. (DIR Series) Circular No.36 (24/02/2010)

Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 68 dated June 1, 2007, revising the reporting package on Overseas Direct Investment (ODI) by the Indian Parties. Further, it was also mentioned in the circular that the ODI forms would be received on-line by the Reserve Bank, i...

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September 2020