RBI new Web portal for Unclaimed Deposits The RBI has launched the Centralised Web Portal “UDGAM” (Unclaimed Deposits Gateway to access information). This portal has been developed for use by members of public to facilitate and simplify the process of searching for their unclaimed deposits across multiple banks at one place. Further, the launch of… Read More »
Rs 2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender RBI/2023-24/32 DCM(Plg) No.S-236/10.27.00/2023-24 May 19, 2023 The Chairman / Managing Director/ Chief Executive Officer All Banks Dear Sir /Madam ₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender ₹2000 denomination banknote was introduced in November 2016 under Section 24(1)… Read More »
Reserve Bank of India launches (a) UPI for Feature Phones (UPI123pay) and (b) 24×7 Helpline for Digital Payments (DigiSaathi) The Reserve Bank has launched two key initiatives today – (1) UPI123Pay – Option to make Unified Interface Payments (UPI) payments for feature phone users, and (2) DigiSaathi – a 24×7 Helpline to address the queries… Read More »
Date : Jan 03, 2022 RBI releases Framework for Facilitating Small Value Digital Payments in Offline Mode The Reserve Bank has today placed on its website the ‘Framework for facilitating small value digital payments in offline mode’. The framework incorporates the feedback received from the pilot experiments on offline transactions conducted in different parts of the… Read More »
RBI Integrated Ombudsman Scheme 2021 Date : Nov 12, 2021 The Reserve Bank – Integrated Ombudsman Scheme, 2021 (the Scheme) was launched today in virtual mode by Hon’ble Prime Minister Shri Narendra Modi. 2. The Scheme integrates the existing three Ombudsman schemes of RBI namely, (i) the Banking Ombudsman Scheme, 2006; (ii) the Ombudsman Scheme for Non-Banking Financial… Read More »
Retail Direct Scheme: Allowing Retail Investors to Open Gilt Accounts with RBI Date : Jul 12, 2021 As part of continuing efforts to increase retail participation in government securities, ‘the RBI Retail Direct’ facility was announced in the Statement of Developmental and Regulatory Policies dated February 05, 2021 for improving ease of access by retail investors through online… Read More »
RBI Retail Direct Scheme The Reserve Bank announces the activation of the RBI Retail Direct Scheme with effect from today. The Scheme was launched today in virtual mode by the Hon’ble Prime Minister, Shri Narendra Modi. A significant milestone in the development of the Government securities (G-sec) market, the Reserve Bank of India-Retail Direct (RBI-RD) Scheme will… Read More »
Guidelines for Implementation of the circular on Opening of Current Accounts by Banks RBI/2021-22/77 DOR.CRE.REC.35/21.04.048/2021-22 August 04, 2021 To, All Scheduled Commercial Banks All Payments Banks Madam / Dear Sir, Guidelines for Implementation of the circular on Opening of Current Accounts by Banks Please refer to circulars DOR.No.BP.BC/7/21.04.048/2020-21 dated August 6, 2020, DOR.No.BP.BC.27/21.04.048/2020-21 dated November 2, 2020 and DOR.No.BP.BC.30/21.04.048/2020-21… Read More »
Monitoring of Availability of Cash in ATMs RBI/2021-22/84 DCM (RMMT) No.S153/11.01.01/2021-22 August 10, 2021 The Chairman / Managing Director & CEO All Banks Dear Sir / Madam, Monitoring of Availability of Cash in ATMs As you are aware, the Reserve Bank of India has a mandate to issue banknotes and the banks are fulfilling… Read More »
RBI announces further measures for dealing with the COVID-19 pandemic Date : Apr 01, 2020 1. Extension of realisation period of export proceeds Presently value of the goods or software exports made by the exporters is required to be realized fully and repatriated to the country within a period of 9 months from the date of… Read More »