RBI Notifications includes Notifications, Circulars, Guidelines, Press release issued by Reserve Bank of India & GOI Related to Banking and Fema Law.
Fema / RBI : Explore the Coordinated Portfolio Investment Survey (CPIS) in India, its purpose, eligibility, survey launch, reporting details, a...
Fema / RBI : Explore the analysis of RBI's draft regulations on Electronic Trading Platforms (ETPs). Learn about eligibility criteria, operatio...
Fema / RBI : Discover the revised timelines and requirements outlined in the Master Direction – Reserve Bank of India (Filing of Supervisory ...
Fema / RBI : Explore RBI's updated Master Directions on KYC for individuals: Strengthening compliance, combating fraud, and enhancing financial...
Fema / RBI : Master the latest RBI Directions on filing supervisory returns for NBFCs, ensuring compliance with updated reporting requirements ...
Fema / RBI : Explore the comprehensive regulatory insights shared by Shri M. Rajeshwar Rao, Deputy Governor of the Reserve Bank of India, focus...
Fema / RBI : Explore how the Reserve Bank of India is fostering self-regulation through SROs, setting industry standards, and enhancing complia...
Fema / RBI : Explore the UDGAM portal by RBI, a centralized tool for searching unclaimed deposits. Learn about registration, search inputs, and...
Fema / RBI : Dive into the Depositor Education and Awareness (DEA) Fund Scheme, 2014 by RBI. Learn about unclaimed deposits, transfer process, ...
Fema / RBI : As per data shared by the Union Minister of State for Finance, Shri Pankaj Chaudhary, the majority (89%) of these notes were issue...
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 : Harsh Nitin Gokhale Vs Reserve Bank of India & Ors (Supreme Court) In the present case, writ petition file seeking relief to e...
Fema / RBI : Directorate of Enforcement Vs. Subhash Muljimal Gandhi ( Delhi HC)- that interest at the rate of 6% per annum under Rule 8 could ...
Fema / RBI : Ketan V. Parekh Vs. Special Director, Directorate of Enforcement and another (Supreme Court)- Ketan Parikh, Kartik Parikh and M/s....
Fema / RBI : Binod Kumar Versus State of Jharkhand & Others- In the impugned judgment, it is mentioned that the basic allegation is amassing of...
Fema / RBI : Discover the 2024 Master Directions from RBI detailing fraud risk management guidelines for NBFCs. Learn about governance, early w...
Fema / RBI : Explore RBI latest Master Directions on Fraud Risk Management in Urban Cooperative Banks (UCBs), State Cooperative Banks (StCBs), ...
Fema / RBI : Explore RBI's latest Master Directions on Fraud Risk Management for Banks & AIFIs. Learn about governance, early detection framewo...
Fema / RBI : The RBI has withdrawn several outdated circulars to streamline and simplify banking guidelines. Learn about the changes and their ...
Fema / RBI : Read about RBI's latest circular on Liberalised Remittance Scheme (LRS) allowing expanded remittances to IFSCs, implications, and ...
Please refer to our Circular DBOD. No. Leg BC. 91 /09.07.005/2007-08 dated June 4, 2008 on the captioned subject advising that all banking facilities such as cheque book facility including third party cheques, ATM facility, Net banking facility, locker facility, retail loans, credit cards etc., are invariably offered to visually challenged persons without any discrimination as they are legally competent to contract
The Reserve Bank of India (RBI) has asked regional rural and co-operative banks to modify Fixed Deposit account opening forms to allow premature withdrawal of FD on death of one of the joint account holders without any penalty. Under the modified norms, it will be easier for the surviving joint account holders to go for premature withdrawal of FD in the event of death of the other.
Holders of ‘Basic Savings Bank Deposit Account’ will not be eligible for opening any other savings bank deposit account in that bank. If a customer has any other existing savings bank deposit account in that bank, he/she will be required to close it within 30 days from the date of opening a ‘Basic Savings Bank Deposit Account’.
In order to prevent unhealthy practices surrounding securitization viz; origination of loans for the sole purpose of securitization and in order to align the interest of the originator with that of the investors and with a view to redistribute credit risk to a wide spectrum of investors, it was felt necessary that originators should retain a portion of each securitization originated and ensure more effective screening of loans
Urban Co-operative Banks are advised to offer a ‘Basic Savings Bank Deposit Account’ which will offer following minimum common facilities to all their customers: The ‘Basic Savings Bank Deposit Account’ should be considered a normal banking service available to all. This account shall not have the requirement of any minimum balance.
It is reiterated that in case of term deposits with Either or Survivor or Former or Survivor mandate, banks are permitted to allow premature withdrawal of the deposit by the surviving joint depositor on the death of the other, only if, there is a joint mandate from the joint depositors to this effect.
As you may be aware, banks are required to specify the time line for realisation of local and outstation cheques in their Cheque Collection Policies (CCP) including the compensation payable for delayed credit, if any. However, on perusal of the Cheque Collection Policies (CCPs) and Compensation Policies of various banks, it is observed that there is no mention about the compensation in respect of the delay in realisation of local cheques. Instances of delayed credit to customers’ accounts without any compensation for the delayed period beyond the time line indicated in the CCPs, in respect of local cheques, have been brought to our notice.
Banks are advised to offer a ‘Basic Savings Bank Deposit Account’ which will offer following minimum common facilities to all their customers: i. The ‘Basic Savings Bank Deposit Account’ should be considered a normal banking service available to all. ii. This account shall not have the requirement of any minimum balance.
It has now been decided to restore the erstwhile stipulation of allowing credit of 100% foreign exchange earnings to the EEFC account subject to the condition that the sum total of the accruals in the account during a calendar month should be converted into Rupees on or before the last day of the succeeding calendar month after adjusting for utilization of the balances for approved purposes or forward commitments. Accordingly, balances outstanding in an EEFC account as on July 31, 2012 and those balances that would accrue in the account with effect from August 1, 2012 shall get converted to Rupee balances on or before close of business on September 30, 2012. Similar procedure may be followed for accruals during the subsequent months.
On a review, it has now been decided that RRBs should not allow the benefit of additional interest rate on any type of deposits of non-residents. Accordingly, the discretion given to RRBs to allow the benefit of additional interest rate of one per cent per annum as available to bank’s own staff on deposits under FCNR (B) accounts stands withdrawn.
