RBI master circulars - Page 30

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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Guidelines for transfer of assets and liabilities of Urban Cooperative Banks to commercial banks

RBI/2009-10/325 , UBD.BPD(PCB).Cir.No. 47/ 09.16.900/2008-09 (24/02/2010)

the Reserve Bank may consider scheme of amalgamation that provides for payment to depositors under Section 16(2) of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, financial contribution by the transferee bank and sacrifice by large depositors. It has since been decided that the Reserve Bank may also consider scheme of t...

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Cheques with alteration/corrections will not be honoured from 01.07.2010

RBI/2009-10/323 DPSS.CO.CHD.No. 1832/ 04.07.05 /2009-10 (22/02/2010)

Prohibiting alterations / corrections on cheques : No changes / corrections should be carried out on the cheques (other than for date validation purposes, if required). For any change in the payee’s name, courtesy amount (amount in figures) or legal amount (amount in words), etc., fresh cheque forms should be used by customers. This wo...

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RBI notification on Interest Rates on Export Credit in Foreign Currency

RBI/2009-10/321, DBOD.DIR.(Exp).No. 76/04.02.001/2009-10 (19/02/2010)

It has been decided, in consultation with the Government of India, to reduce the ceiling rate on export credit in foreign currency by banks to LIBOR plus 200 basis points from the present ceiling rate of LIBOR plus 350 basis points with immediate effect, subject to the express condition that the banks will not levy any other charges viz. ...

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RBI notification on Setting up of Cash Processing Centres – Recommendation of HLG

RBI/2009-10/320, DCM(Plg)No. G-18 /10.01.03/2009-10 (19/02/2010)

Since banks may find it difficult to install/maintain machines at all their branches dealing with notes of high denomination, it has been decided to accept the Group's recommendations with respect to CPC and encourage the banks to set up state of the art Cash Processing Centres (CPCs) with substantial processing and storage capacities. T...

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Review of bilateral clearing arrangements between banks – State and Central Co-operative Banks

RBI/2009-10/319, RPCD.CO.RF.BC. No. 55 /07.38.03/2009-10 (18/02/2010)

Currently operational at most locations across the length and breadth of the country, Clearing Houses facilitate multilateral net clearing and settlement of over four million cheques everyday on a T + 1 basis. In fact, the processing cycle in India for local cheques encompasses both the presentation and return clearing legs, and compares ...

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Memorandum of Procedure for channeling transactions through Asian Clearing Union (ACU)

RBI/2009-10/318, A.P. (DIR Series) Circular No. 35 (17/02/2010)

Attention of Authorised Dealer Category-I (AD Category – I) banks is invited to the Memorandum containing detailed procedural instructions for channeling transactions through Asian Clearing Union (ACU) (Memorandum ACM) issued in April, 2003 and other relevant instructions issued from time to time....

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Risk weights and exposure norms in respect of bank exposure to NBFCs categorised as ‘Infrastructure Finance Companies’

RBI/2009-10/317 DBOD. No. BP. BC. 74/21.04.172/ 2009-10 (12/02/2010)

Please refer to paragraph 160 of the Second Quarter Review of the Monetary Policy for the year 2009-10 (copy of extract enclosed) wherein it was proposed to link the risk weights of banks’ exposure to NBFCs categorised as Infrastructure Finance Companies (IFCs) to the credit rating assigned to these NBFCs by external credit assessment i...

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Infrastructure Finance Companies

RBI/2009-10/316 DNBS.PD. CC No. 168 / 03.02.089 /2009-10 (12/02/2010)

Please refer to paragraph 178 of the captioned policy. NBFCs-ND-SI engaged predominantly in infrastructure financing have represented to the Reserve Bank that there should be a separate category of infrastructure financing NBFCs in view of the critical role played by them in providing credit to the infrastructure sector. Currently, the Re...

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