Blog Archives

Priority Sector Lending – Classification

RBI/2013-14/379 RPCD.CO.Plan. BC 59/04.09.01/2013-14 November 25, 2013 The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks)] Dear Sir, Priority Sector Lending – Classification Please refer to the press release dated November 18, 2013 on the above subject. 2. In view of the reasons explained therein, it is decided to include incremental bank [...]

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A Profile of Banks: 2012-13

The Reserve Bank of India released on its website “A Profile of Banks: 2012-13”. The publication, ninth volume in the series, provides bank-wise and bank group-wise information on important performance indicators of all scheduled commercial banks excluding regional rural banks, for the period 2008-09 to 2012-13. The publication covers 21 important indicators, including return on [...]

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National Institute of Bank Management Conclave on Implications of New Bank Licences

(Inaugural address by Shri B. Mahapatra, Executive Director, Reserve Bank of India (RBI) at the PG Students’ Conclave on Implications of New Bank Licences at the National Institute of Bank Management, Pune on September 28, 2013) I have great pleasure and privilege in associating myself with the conclave of the Post Graduate Students of National [...]

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RBI Publishes FAQs on Basic Savings Bank Deposit Account

RBI/2013-14/264 RPCD.RRB.RCB.AML.BC.No. 36/07.51.018/2013-14 September 17, 2013 The Chairmen / CEOs of Regional Rural Banks / State and Central Co-operative Banks Dear Sir / Madam, Financial Inclusion- Access to Banking Services – Basic Savings Bank Deposit Account (BSBDA) – FAQs Please refer to Circular RPCD.CO.RRB.RCB.BC.No.24/07.38.01/2012-13 dated August 22, 2012 on Basic Savings Bank Deposit Account (BSBDA) wherein banks have [...]

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RBI Clarification w.r.t. KYC Procedure under PMLA – Recognising online Aadhaar authentication

RBI/2013-14/242 RPCD.RRB.RCB.AML.BC.No.32/07.51.018/2013-14 September 10, 2013 The Chairmen / CEOs of all Regional Rural Banks / State and Central Co-operative Banks Dear Sir, Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 – e-KYC Service of UIDAI – Recognising on-line [...]

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RBI Simplification of Procedure Settlement of Claims of Deceased Depositor

RBI/2013-14/245 RPCD.CO.RRB.BC.No. 33/03.05.33 /2013-14 September 10, 2013 The Chairmen All Regional Rural Banks Dear Sir/Madam, Settlement of Claims of Deceased Depositor – Simplification of Procedure – Placing of claim forms on bank’s website Please refer to circular RPCD.CO.RRB.BC.22/03.05.33/2005-06 dated July 19, 2005 and wherein simplified procedure has been specified for settlement of claims of deceased depositors. We [...]

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RBI releases Discussion Paper on ‘Banking Structure in India – The Way Forward’

The Reserve Bank of India today released on its website a Discussion Paper on ‘Banking Structure in India – The Way Forward’. The Discussion paper has identified certain building blocks for the reorientation of the banking structure with a view to addressing various issues such as enhancing competition, financing higher growth, providing specialised services and furthering [...]

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Cabinet Approves interest subvention scheme to provide short-term crop loans to farmers

Interest Subvention to Public Sector Banks (PSBs), Private Sector Banks, Cooperative Banks and Regional Rural Banks (RRBs) and to NABARD for refinance to RRBs and Cooperative Banks for providing short-term crop loan to farmers at interest rate of 7 per cent per annum The Union Cabinet today approved continuation of the interest subvention scheme to [...]

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Recommendations of Damodaran Committee on Customer Service in Banks- Uniformity in Intersol Charges

RBI/2013-14/166 RPCD.RRB.BC.No.17/03.05.33/2013-14 July 31, 2013 All Regional Rural Banks Dear Sir/ Madam Recommendations of Damodaran Committee on Customer Service in Banks- Uniformity in Intersol Charges Please refer to announcement made in Monetary Policy Statement 2013-14 on May 3, 2013 on ‘Recommendations of Damodaran Committee- Uniformity in Intersol Charges’. 2. With the introduction of Core Banking Solution (CBS), [...]

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Credit Information Companies (Regulation) Act, 2005 – Compliance

RBI/2013-14/157 RPCD.CO.RRB.BC.No.14/03.05.33/2013-14 July 23, 2013 The Chairman All Regional Rural Banks (RRBs) Dear Sir, Credit Information Companies (Regulation) Act, 2005 – Compliance Please refer to our Circular RPCD.CO.RRB.No.32-03.05.33-2009-10 dated October 20, 2009 advising RRBs, that in terms of Section 15(1) of Credit Information Companies (Regulation) Act 2005, every credit institution has to become a member of [...]

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RRBs – Bank Rate increased

RBI/2013-14/146 RPCD.CO.RRB.RCB.BC. No.13/03.05.33/2013-14 July 15 , 2013 The Chairmen/Chief Executive Officers, All Regional Rural Banks / State and Central Co-operative Banks Dear Sir/Madam, Bank Rate As announced in the Press Release 2013-14/100 dated July 15, 2013, the Bank Rate stands adjusted by 200 basis points from 8.25 per cent to 10.25 per cent with effect from [...]

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Conference of Principal Code Compliance Officers

Conference of Principal Code Compliance Officers (PCCOs) / Chairmen of Regional Rural Banks organised by BCSBI at Mumbai, on July 15, 2013 (Inaugural Address by Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India) It is a privilege to be here this morning and I would like to thank Shri A.C. Mahajan, Chairman, BCSBI, [...]

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Master Circular – Lending to Micro, Small & Medium Enterprises (MSME) Sector

RBI/2013-14/96 RPCD.MSME & NFS.BC.No.5/06.02.31/2013-14 July 1, 2013 The Chairman/Managing Director/Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir / Madam Master Circular – Lending to Micro, Small & Medium Enterprises (MSME) Sector As you are aware, the Reserve Bank of India has, from time to time, issued a number of guidelines/instructions/directives [...]

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Master Circular – Guidelines for Relief Measures by Banks in Areas Affected by Natural Calamities

RBI/2013-14/95 RPCD. No. PLFS. BC 6/05.04.02/2013-14 July 1, 2013 The Chairman/Managing Director/Chief Executive Officer All scheduled commercial banks (excluding Regional Rural Banks) Madam / Dear Sir, MASTER CIRCULAR – GUIDELINES FOR RELIEF MEASURES BY BANKS IN AREAS AFFECTED BY NATURAL CALAMITIES Please refer to our Master Circular RPCD.No.PLFS.BC.3/05.04.02/2012-13 dated July 2, 2012, incorporating guidelines issued to [...]

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Master Circular of instructions relating to deposits held in FCNR(B) Accounts

RBI/2013-14/74 DBOD.No.Dir.BC. 11 /13.03.00/2013-14 July 1 , 2013 Ashadha 10, 1935 (Saka) All Scheduled Commercial Banks (excluding RRBs) Dear Sir / Madam Master Circular of instructions relating to deposits held in FCNR(B) Accounts Please refer to the Master Circular DBOD No. Dir. BC.8/ 13.03.00/2012-13 dated July 2, 2012 consolidating the instructions/guidelines issued to banks till June 30, 2012 [...]

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Master Circular – Interest Rates on Advances

RBI/2013-14/73 DBOD.No.Dir.BC.  15 /13.03.00/2013-14 July 1, 2013 Ashadha  10, 1935 (Saka) All Scheduled Commercial Banks (excluding RRBs) Dear Sir / Madam Master Circular – Interest Rates on Advances Please refer to the Master Circular DBOD.No.Dir.BC.5/13.03.00/2012-13 dated July 2, 2012 consolidating instructions / guidelines issued to banks till June 30, 2012 on matters relating to Interest Rates on [...]

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