Ministry of Finance 27-May, 2016 Clarification on implementation of Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) An Inter-Governmental Agreement between India and USA was signed for implementation of Foreign Account Tax Compliance Act (FATCA). The Government of India has also joined the Multilateral Competent Authority Agreement (MCAA) for Automatic Exchange of… Read More »
RBI/2015-16/409 DCBR.BPD.Cir.No.17/16.74.000/2015-16 Jyeshtha 5, 1938 (saka) May 26, 2016 The Chief Executive Officers All Primary (Urban) Co-operative Banks, State / Central Co-operative Banks Dear Sir/Madam Credit information reporting in respect of Self Help Group (SHG) members Please refer to the instructions contained in paragraph (v) of the Annex II/III to our circulars UBD.CO.BPD.PCB.Cir.No.4/16.74.000/2014-15 and RPCD.RRB.RCB.… Read More »
RBI/2015-2016/410 DPSS.CO.PD.No./2894/02.14.003/2015-2016 May 26, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Madam / Sir, Merchant Acquisition for Card transactions Please refer to our circular RBI/2011-12/194.DPSS.PD.CO No 513/02.14.003/2011-2012 dated September 22, 2011 wherein various… Read More »
RBI/2015-16/411 A.P. (DIR Series) Circular No.72 May 26, 2016 To All Authorised Dealer Category-I Banks Madam / Sir, Memorandum of Procedure for channeling transactions through Asian Clearing Union (ACU) Attention of Authorised Dealer Category-I Banks is invited to the Memorandum containing detailed procedural instructions for channeling transactions through the Asian Clearing Union (ACU) (Memorandum ACM)… Read More »
RBI/2015-2016/407 DCBR.CO.BPD.BC.No.16/16.05.000/2015-16 Jyeshtha 5, 1938 May 26, 2016 All Banks Dear Sir/Madam Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – ‘The Jalgaon Peoples Co-op Bank Ltd., Jalgaon’ We advise that the name of ‘The Jalgaon Peoples Co-op Bank Ltd., Jalgaon’ has been included in the Second Schedule to the… Read More »
RBI/2015-2016/413 DPSS.CO.PD.No./2895/02.10.002/2015-2016 May 26, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/ Authorised ATM Network Operators / Card Payment Network Operators/White Label ATM Operators Madam / Sir, ATMs – Security and Risk Mitigation Measures… Read More »
RBI/2015-16/408 DNBR.CC.PD.No.081/03.10.01/2015-16 May 26, 2016 To All Non-Banking Financial Companies (NBFCs) Madam/Sir, Review of Framework for Revitalising Distressed Assets in the Economy and Strategic Debt Restructuring Mechanism The Reserve Bank of India (the Bank) has issued various guidelines aimed at revitalising the stressed assets in the economy. The measures taken by the Bank include Strategic… Read More »
RBI/2015-16/414 A.P. (DIR Series) Circular No.74 May 26, 2016 To All Category – I Authorised Dealer Banks Madam / Sir, Export Data Processing and Monitoring System (EDPMS) – Additional modules for caution listing of exporters, reporting of advance remittance for exports and migration of old XOS data Attention of AD Category – I banks is… Read More »
RBI/2015-16/412 A.P. (DIR Series) Circular No.73 May 26, 2016 To All Category – I Authorised Dealer Banks Madam / Sir, Foreign Exchange Management Act, 1999 (FEMA) Foreign Exchange (Compounding Proceedings) Rules, 2000 (the Rules) – Compounding of Contraventions under FEMA, 1999 Attention of Authorised Dealers is invited to paragraph number 7 and 8 of the… Read More »
RBI/DBR/2015-16/25 Master Direction/DBR.FSD.No.101/24.01.041/2015-16 May 26, 2016 Master Direction- Reserve Bank of India (Financial Services provided by Banks) Directions, 2016 In exercise of the powers conferred by Sections 35 A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest so to do,… Read More »