Fema / RBI : Discover the revised timelines and requirements outlined in the Master Direction – Reserve Bank of India (Filing of Supervisory ...
Fema / RBI : Master the latest RBI Directions on filing supervisory returns for NBFCs, ensuring compliance with updated reporting requirements ...
Fema / RBI : RBI's Master Directions 2024 mandates guidelines for issuing Commercial Papers and NCDs up to one year, focusing on eligibility, i...
Fema / RBI : Regulations for software export depend upon the medium used. Learn how the export of software through data communication links fro...
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 a...
Fema / RBI : The eighth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act...
Fema / RBI : On a review, it has been decided to include the National Payments Corporation of India. (NPCI) and United Stock Exchange of India ...
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 a...
Fema / RBI : The contentions of the RBI that the dispute is between the Petitioner and Respondents is not acceptable since the dispute arises o...
Fema / RBI : Explore the Reserve Bank of India's Master Direction for Margining Non-Centrally Cleared OTC Derivatives issued in 2024. Understan...
Fema / RBI : Explore the latest RBI circular (A.P. DIR Series Circular No. 04) on amendments to risk management and inter-bank dealings for aut...
Fema / RBI : Master Direction consolidates the existing regulatory guidelines issued to ARCs vide Master Circular on ARCs and Master Direction ...
Fema / RBI : Explore RBI's latest master circular on bank finance to Non-Banking Financial Companies (NBFCs) for comprehensive guidelines and r...
Fema / RBI : Explore the updated guidelines of the RBI's Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) for promoti...
In this connection, you may please refer to RBI circular No.MPD.BC.330/07.01.279/2009-10 dated April 23, 2010. The rates of interest applicable have been incorporated in the Annexure to the Directive DBOD.Dir(Exp).BC.No. 101/04.02.01/2009-10 dated May 6, 2010 enclosed to this circular. The Base Rate System will be applicable with effect from July 1, 2010. Accordingly, interest rates applicable for all tenors of rupee export credit advances will be at or above Base Rate.
As per instructions contained in paragraph 12 of circular UBD.DC.102/V.1-86/87 dated June 25, 1987 on Interest Rates on Deposits and paragraphs 9.1 and 9.2 of Master Circular UBD.No.BPD.MC.No.11/13.01.000/2009-10 dated July 01, 2009 on Interest Rates on Rupee Deposits, UCBs, on request from the depositor, should allow closure of a term deposit, a deposit in the form of daily deposit, or recurring deposit, to enable the depositor to immediately reinvest the amount lying in the aforesaid deposits with the same bank in another term deposit.
Attention of Authorised Persons in foreign exchange is invited to A.P.(DIR Series) Circular No. 19 dated October 30, 2000 and A.P. (DIR Series) Circular No.11 [A.P. (F.L. Series) Circular No.1] dated November 13, 2001, in terms of which Authorised Dealers and Full Fledged Money Changers are permitted to sell foreign exchange in the form of foreign currency notes and coins, up to USD 2,000 or its equivalent, to the travellers proceeding to countries other than Iraq, Libya, Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States.
In this connection, please refer to paragraph 2 (iii) (b) of our Circular UBD.(PCB) BPD.Cir.No. 46/16.20.000/2008-09 dated January 30, 2009 on investments in Non-SLR securities by Primary (Urban) Co-operative Banks (UCBs), in terms of which investments in unlisted securities (subject to the minimum rating prescribed) should not exceed 10 percent of the total Non-SLR investments at any time. Where UCBs have already exceeded the said limit, no further investment in such securities will be permitted.
Accordingly, the instructions/guidelines contained in Master circular UBD.BL(PCB)MC.No.14/07.01.000/2009-10 dated July 1, 2009 and circular UBD.CO.LS.Cir.No.52/07.01.000/2009-10 dated June 16, 2008 have been reviewed and it has been decided that approvals for opening off site ATMs in respect of such UCBs will henceforth be considered outside Annual Business Plans, subject to:
In this connection, we advise that apart from Credit Information Bureau of India Ltd., (existing credit information company in operation since January 2001) DBOD has recently issued certificate of registration to Experian Credit Information Company of India Pvt. Ltd. and Equifax Credit Information Services Pvt. Ltd. on February 17, 2010 and March 26, 2010 respectively to commence the business of credit information. The addresses and other details of the companies are given below.
Please refer to our circular RPCD.CO.RRB.BC.No. 20/03.05.33/2007-08 dated August 22,2007 on lending to priority sector, in terms of which finance granted by banks to micro and small enterprises as defined under the Micro, Small and Medium Enterprises Development (MSMED) Act,2006,is eligible for classification under priority sector.
The Securitisation Company or Reconstruction Company shall take the measures specified in sections 9(a) of the Act, in accordance with instructions contained in Circular DNBS/PD (SC/RC) No. 17/26.03.001/2009-10, dated April 21, 2010 as amended from time to time.
A reference is invited to Para 3 of the guidelines on ‘Know Your Customer’ norms and anti-money laundering measures enclosed to our circular RPCD.RRB.BC.No.81/03.05.33(E)/2004-05 dated February 18,2005. It has been advised to RRBs that internal guidelines for customer identification procedure of legal entities may be framed by them based on their experience of dealing with such entities, normal bankers’ prudence and the legal requirements as per established practices.
On a review of the issue it has been decided that the exemption granted to RRBs up to the financial year 2008-09 from ‘mark to market’ norms in respect of their investments in SLR securities be extended by one more year i.e. for the financial year 2009-10. Accordingly, RRBs will have the freedom to classify their entire investment portfolio of SLR securities under ‘Held to Maturity’ for the financial year 2009-10 with valuation on book value basis and amortisation of premium, if any, over the remaining life of securities.
