RBI master circulars - Page 36

RBI Circular on Issue of Bank Guarantee on behalf of service importers

RBI/2009-10/ 176- A.P. (DIR Series) Circular No.11 (05/10/2009)

The directions contained in this Circular have been issued under Section 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law....

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RBI Circular on Payment of Interest on Savings Bank Account on a Daily Product Basis

RBI/2009-10/169, RPCD.CO.RRB.BC.No. 25 /03.05.33/2009-10 (24/09/2009)

On a review, it has been decided that the interest on balances in savings bank accounts would be calculated on a daily product basis with effect from April 1, 2010. Regional Rural Banks are advised to work out modalities to effect a smooth transition to the revised procedure....

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RBI circular on Priority Sector Lending -Categorisation of activities under service under the MSMED Act, 2006

RBI/2009-10/164 RPCD.CO.Plan. BC. 24 /04.09.01/2009- 10 (18/09/2009)

The Government of India, vide communication No. 5(6)/2/2009- MSME POL dated June 12, 2009, has indicated the categorisation of activities under services under the Micro Small and Medium Enterprises Development (MSMED) Act, 2006....

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RBI circular on extension of last date under Agricultural Debt Waiver and Debt Relief Scheme, 2008

RBI/2009-10/145 UBD.BPD.PCB.Cir.No 8 /13.05.006/2009-10 (03/09/2009)

Please refer to our Master Circular RBI/2009-10/56 IDMD.PDRS. 01/03.64.00/2009-10 dated July 1, 2009 on Operational Guidelines to Primary Dealers, in terms of which, Primary Dealers (PDs) are allowed to borrow from call/notice money market, on an average in a reporting fortnight, up to 200 percent of their Net Owned Funds (NOF) as at the ...

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RBI circular on display of information regarding Local Level Committees

RBI/2009-10/142 DBOD.No.Leg.BC. 37 /09.07.005/2009-10 (02/09/2009)

In a case which came up before the High Court of Delhi, the Honorable Court has directed that all banks should ensure that their branches display in a conspicuous place (i) essential details about the facilities under the enactment (Mental Disabilities Act); (ii) the fact that the parties can approach the Local Level Committees, for the p...

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Government of India Cash Management Bills will be treated as SLR securities

RBI/2009-10/ 139, Ref: DBOD.No.Ret. BC.36/12. 02.001/2009- 10 (01/09/2009)

RBI/2009-10/ 139 Ref: DBOD.No.Ret. BC.36/12. 02.001/2009- 10 September 01, 2009 To, All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir, Section 24 of the Banking Regulation Act, 1949 Maintenance of Statutory Liquidity Ratio (SLR) Please refer to the Reserve Bank Press Release: 2009-2010/227 dated August 10, 2009 on t...

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RBI issued circular, relaxing existing norms on Investment Portfolio of Primary Dealers

RBI/2009-10/136 IDMD.PDRD.No. 1050/ 03.64.00/2009-10 (31/08/2009)

Banks undertaking PD activities departmentally may continue to follow the extant guidelines applicable to the 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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Increase in exemption of collateral security in respect of individual and group loans under SGSY Scheme

RBI/2009-10/ 127-RPCD.SP.BC.No 12/09.01.01/2009-10 (24/08/2009)

The scheme aims at establishing a large number of micro enterprises in the rural areas. The list of Below Poverty Line (BPL) households identified through BPL census duly approved by Gram Sabha will form the basis for identification of families for assistance under SGSY....

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Acknowledgement of Nomination- Banking Companies (Nomination) Rules, 1985

RBI/2008-09/406 (DBOD.No.Leg. BC.114 /09.07.005/2008-09 (09/03/2009)

Banks are therefore advised to strictly comply with the provisions of Banking Regulation Act, 1949 and Banking Companies (Nomination) Rules, 1985 and devise a proper system of acknowledging the receipt of the duly completed form of nomination, cancellation and / or variation of the nomination. Such acknowledgement should be given to all t...

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