Banks has to enter Aadhaar Number in Bank accounts opened for Direct Benefit Transfer (DBT) Scheme

Direct Benefit Transfer (DBT) Scheme – Implementation RBI/2019-20/40 FIDD.CO.LBS.BC.No.09/02.01.001/2019-20 August 13, 2019 The Chairmen / Managing Directors & CEOs Scheduled Commercial Banks (including Regional Rural Banks), Small Finance Banks and Payments Banks Madam / Dear Sir, Direct Benefit Transfer (DBT) Scheme – Implementation Please refer to Circular RPCD.CO.LBS.BC.No.Read More…

Processing of e-mandate on cards for recurring transactions by Banks : RBI Instructions

RBI/2019-20/47 DPSS.CO.PD.No.447/02.14.003/2019-20 August 21, 2019 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks, including Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Payments Banks / Small Finance Banks / Card Payment Networks / Prepaid Payment Instrument Issuers Madam / DRead More…

Usage of ATMs – Free ATM transactions – Clarifications

RBI/2019-20/41 DPSS.CO.PD No. 377/02.10.002/2019-20 August 14, 2019 All Scheduled Commercial Banks including Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Small Finance Banks / Payment Banks / White Label ATM Operators Madam / Sir, Usage of ATMs – Free ATM transactions – Clarifications Please refer to our circularRead More…

RTGS and NEFT Charges waived by RBI from 01.07.2019

RBI/2018-2019/208 DPSS (CO) RPPD No.2557/04.03.01/2018-19 June 11, 2019 The Chairman / Managing Director / Chief Executive Officer of member banks participating in RTGS and / or NEFT Madam / Sir National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems – Waiver of charges Please refer to paragraph No. 8 of the Second Bi-monthly Monetary Policy Statement onRead More…

RBI abolishes RTGS and NEFT charges. Banks to pass benefits to customers

The Reserve Bank levies minimum charges on banks for transactions routed through its Real Time Gross Settlement System (RTGS) meant for large-value instantaneous fund transfers and the National Electronic Funds Transfer (NEFT) System for other fund transfers. Banks, in turn, levy charges on their customers In order to provide an impetus to digital funds movement, it has been decided to doRead More…

RBI reduces repo rate by 25 basis points from 06.06.2019

On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 5.75 per cent from 6.0 per cent with immediate effect. Refer Second Bi-monthly Monetary Policy Statement, 2019-20 Resolution of the Monetary PolicRead More…

Sovereign Gold Bond Scheme 2019-20 Series-I – Issue Price

Date : May 31, 2019 In terms of GoI notification F.No.4(7)-B(W&M)/2019 and RBI circular IDMD.CDD.No.3392/14.04.050/2018-19 dated May 30, 2019, the Sovereign Gold Bond Scheme 2019-20 – Series I will be opened for subscription for the period from June 03 – June 07, 2019. The nominal value of the bond based on the simple average closing price [published by the India Bullion and JewellRead More…

Sovereign Gold Bond Scheme (SGB) 2019-20- Series I/II/III/IV

Sovereign Gold Bond Scheme (SGB) 2019-20- Series I/II/III/IV RBI/2018-19/192IDMD.CDD.No.3392/14.04.050/2018-19 May 30, 2019 The Chairman & Managing Director All Scheduled Commercial Banks,(Excluding RRBs)Designated Post OfficesStock Holding Corporation of India Ltd. (SHCIL)National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign GoldRead More…

Sovereign Gold Bond Scheme 2019-20 – Series I/II/III/IV – Operational Guidelines

RBI/2018-19/193IDMD.CDD.No.3391/14.04.050/2018-19 May 30, 2019 The Chairman & Managing DirectorAll Scheduled Commercial Banks(Excluding RRBs)Designated Post OfficesStock Holding Corporation of India ltd.(SHCIL)National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme 2019-20 – Series I/II/III/IV – Operational Guidelines ThRead More…