RBI Notifications - Page 20

Repo & Reverse Repo Rates revised downwards by 35 basis points

Notification No. DBR.No.Ret.BC.10/12.01.001/2019-20, DBR.No.Ret.BC.10/12.01.001/2019-20, FMOD.MAOG. No.135/01.18.001/2019-20, FMOD.MAOG. No.134/01.01.001/2019-20 (07/08/2019)

As announced in the Third Bi-monthly Monetary Policy Statement, 2019-20, today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 35 basis points from 5.75 per cent to 5.40 per cent with immediate effect....

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Statement on Developmental & Regulatory Policies: Third BI-monthly Monetary Policy, 2019-20

Press Release: 2019-2020/365 (07/08/2019)

Reserve Bank of India Date : Aug 07, 2019 Statement on Developmental and Regulatory Policies This Statement sets out various developmental and regulatory policy measures in the areas of Financial Markets; Payment and Settlement Systems; Banking Regulation, Financial Inclusion and Credit flow to NBFCs. I. Financial Markets 1. Introduction ...

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Bank should not charge Foreclosure Charges on Floating Rate Term Loans other than Business Loan

RBI/2019-20/29 DBR.Dir.BC.No.08/13.03.00/2019-20 (02/08/2019)

It is clarified that banks shall not charge foreclosure charges/ pre-payment penalties on any floating rate term loan sanctioned, for purposes other than business, to individual borrowers with or without co-obligant(s)....

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Restriction on Levy of foreclosure charges on Floating Rate Loans by NBFCs

RBI/2019-20/30 DNBR (PD) CC.No.101/03.10.001/2019-20 (02/08/2019)

It is clarified that NBFCs shall not charge foreclosure charges/ pre-payment penalties on any floating rate term loan sanctioned for purposes other than business to individual borrowers, with or without co-obligant(s)....

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Basic facilities to be offered in BSBD Account, free of charge by Banks

RBI/2019-20/31 DCBR.BPD (PCB/RCB).Cir.No.02/13.01.000/2019-20 (02/08/2019)

The Basic Savings Bank Deposit (BSBD) Account was designed as a savings account which would offer certain minimum facilities, free of charge, to the holders of such accounts. In the interest of better customer service, it has been decided to make certain changes in the facilities associated with the account. Banks are now advised to offer...

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Fit and Proper’ Criteria for Elected Directors on Boards of PSBs

Reserve Bank of India RBI/DBR/2019-20/71 Master Direction DBR.Appt.No: 9/29.67.001/2019-20 August 2, 2019 Master Direction – Reserve Bank of India (‘Fit and Proper’ Criteria for Elected Directors on the Boards of PSBs) Directions, 2019 In exercise of the powers conferred by sub-section (2) of Section 19A of the State Bank of Ind...

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RBI Master Circular on Payment of Agency Commission

Notification No. RBI/2019-20/28 DGBA.GBD.No.250/31.12.010/2019-20 (01/08/2019)

Reserve Bank of India RBI/2019-20/28 DGBA.GBD.No.250/31.12.010/2019-20 August 1, 2019 All Agency Banks Dear Sir / Madam Master Circular on Conduct of Government Business by Agency Banks – Payment of Agency Commission Please refer to our Master Circular RBI/2018-19/2 dated July 2, 2018 on the above subject. We have now revised and ...

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Agency Commission- Furnishing reconciliation certificate of CA

RBI/2019-20/21 DGBA.GBD.No. 5/31.02.007/2019-20 (31/07/2019)

It has now been decided in consultation with Government of India, that agency banks while claiming agency commission from RBI Central Accounts Section, Nagpur and at Regional offices of RBI (including Mumbai Regional Office for GST collections) are required to submit certificates by the bank official and by Chartered Accountant in this re...

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ECB Policy – Rationalisation of End-use Provisions

RBI/2019-20/20 A.P. (DIR Series) Circular No. 04 (30/07/2019)

It has been decided, in consultation with the Government of India, to relax the end-use restrictions. Accordingly, eligible borrowers will now be permitted to raise ECBs for the following purposes from recognised lenders, except foreign branches/ overseas subsidiaries of Indian banks, subject to paragraph 2.2 of the direction ibid:...

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RBI (Priority Sector Lending – Targets and Classification) Directions, 2019

RBI/FIDD/2019-20/70 Master Direction FIDD.CO.Plan.BC No.08/04.09.01/2019-20 (29/07/2019)

(a) These Directions shall be called the Reserve Bank of India (Priority Sector Lending – Targets and Classification) Directions, 2019. (b) These Directions shall come into effect on the day they are placed on the official website of the Reserve Bank of India....

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