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 ...
UBD.CO.BPD(PCB) Cir.No.42 /09.73.000/2010-11- In partial modification of the above circular, we advise that the coins of 25 Paise and below will be exchanged at the branches of the specified banks as also the offices of the Reserve Bank of India till the close of business on June 29, 2011 (instead of June 30, 2011 as advised earlier). These coins shall cease to be legal tender thereafter. The UCBs may take note of the above instructions.
It has been brought to our notice that since co-operative credit societies are not even sub-members of clearing houses, members of such co-operative credit societies who do not have bank accounts face difficulties in collection of account payee cheques drawn in their name. With a view to mitigating the difficulties faced by the members of co-operative credit societies in collection of account payee cheques, it is clarified that collecting banks may consider collecting account payee cheques drawn for an amount not exceeding Rs.50,000/- to the account of their customers who are co-operative credit societies, if the payees of such cheques are the constituents of such co-operative credit societies. While collecting the cheques as aforesaid, banks should obtain a clear undertaking in writing from the co-operative credit societies concerned that, upon realization, the proceeds of the cheques will be credited only to the account of the member of the co-operative credit society who is the payee named in the cheque. This shall, however, be subject to the fulfillment of the requirements of the provisions of Negotiable Instruments Act, 1881, including Section 131 thereof.
we further advise that the RRBs eligible to open branches in Tier 3 to Tier 6 centres may do so without prior approval of RBI and approach the Regional Office of RBI for, post-facto automatic, issue of the licence/s. The licence should be displayed in the premise of the branch so opened for information of its customers/ public to instill confidence in them that the bank branch is authorized to conduct banking business.
Recently, incidents of unauthorized /fraudulent withdrawals at ATMs have come to the notice of RBI. It is important to arrest the incidents of such frauds in order to further encourage card based transactions in the country where the use of credit/debit cards plays an important role. It is therefore decided that banks make take steps to put in place a system of online alerts for all types of transactions irrespective of the amount, involving usage of cards at various channels. This measure is expected to encourage further usage of cards at various delivery channels. Banks may implement this measure latest by June 30, 2011.
RPCD.CO.RCB.BC.No.57/07.02.03/2010-11- We advise that in a meeting of ‘Committee on Investors Education and Protection Fund’ held by the Government of India, Ministry of Corporate Affairs, New Delhi, it has, inter-alia, been decided that banks should make ‘investor awareness’ as one of the agenda items in their periodical meetings with their customers at semi urban/rural branches so that more people are covered under the programme.
Please refer to Circular No. IMD/FII&C/32/2008 dated October 16, 2008 read with Circular No. IMD/FII&C/34/2008 dated October 20, 2008 and Circular No. IMD/FII&C/4/2010 dated June 29, 2010 related to reporting of information pertaining to securities lent by the FIIs to entities abroad. Based on these circulars, FIIs have been submitting weekly reports based on which disclosures have been made available for public dissemination at http://203. 199.12.5 1/SecuritiesLentMain.html every Tuesday. The reports filed by the FIIs have been reviewed and it is noted that as on March 04, 2011 there are no outstanding short positions reported by the FIIs. While the prohibition on the activity of synthetic short continues, the FIIs are no longer required to file these reports, with effect from the date of this circular, as there are no outstanding short positions.
Binod Kumar Versus State of Jharkhand & Others- In the impugned judgment, it is mentioned that the basic allegation is amassing of illicit wealth by various former Ministers, including a former Chief Minister of the State. The money alleged to have been so earned is of unprecedented amounts. However, there is no clear allegation so far about its laundering in the sense mentioned above, but there is an allegation of its investment in property, shares etc. not only in India but also abroad.
In terms of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, Indian companies are required to report the details of Foreign Direct Investment (FDI) in Form FC-GPR to the Regional Office of RBI within whose jurisdiction the Registered Office of the Company operates, within 30 days of issue of shares.
With a view to facilitating accounting of all the Government transactions of the current financial year (2010-11) by March 31, 2011, the National Clearing Cells functioning under the Regional Offices of Reserve Bank of India have been advised to conduct “Special Clearings” with same day return clearing in the evening / night of March 30 and 31, 2011. They have also been advised to ensure that the Clearing Houses under their jurisdiction conduct these clearings, keeping in view the operational convenience at the local centres, so that instruments relating to Government revenue received from members of the public are realised and the proceeds are credited to Government account by March 31, 2011.
With a view to facilitating accounting of all the Government transactions of the current financial year (2010-11) by March 31, 2011 and meeting the probable rush of tax-payers towards the end of the year, it has been decided in consultation with the Controller General of Accounts, Government of India that all Regional Offices of Reserve Bank of India (RBI) and branches of Agency banks conducting Government business will suitably extend the banking hours to conduct Government business by keeping their counters open for the purpose on March 30 and 31, 2011 to facilitate receipt of Government revenue from members of public even at late hours.
