Category Archives: RBI

RTGS and NEFT Charges waived by RBI from 01.07.2019

By | June 14, 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… Read More »

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

By | June 7, 2019

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… Read More »

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

By | June 1, 2019

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… Read More »

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

By | June 1, 2019

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 Gold Bond Scheme (SGB) 2019-20- Series I/II/III/IV Government of India has vide its… Read More »

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

By | June 1, 2019

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 This has reference to the GoI notification F.No.4(7)-W&M/2019 dated May 30, 2019 and RBI circular… Read More »

RTGS Timing Extended by RBI

By | May 29, 2019

RBI/2018-19/189DPSS (CO) RTGS No. 2488/04.04.016/2018-19 May 28, 2019 The Chairman / Managing Director / Chief Executive Officerof member banks participating in RTGS Madam / Dear Sir, Real Time Gross Settlement (RTGS) System – Extension of Timings for Customer Transactions A reference is invited to circular DPSS (CO) RTGS No.492/04.04.002/2015-16 dated September 1, 2015 on ‘Changes in RTGS… Read More »

Incentive for improving service to non-chest branches : RBI

By | May 24, 2019

RBI/2018-19/186DCM (Plg.) No.2845/10.25.007/2018-19 May 23, 2019 The Chairman & Managing DirectorManaging Director/ Chief Executive OfficerAll Banks having Currency Chests Dear Sir/Madam, Incentive for improving service to non-chest branches Please refer to our circular RBI/2015-16/293 DCM (NPD) No.2564/09.40.02/2015-16 dated January 21, 2016 on the captioned subject. It has been decided to allow the large modern Currency Chests to… Read More »

Payment and Settlement Systems in India: Vision 2019 – 2021’ by RBI

By | May 17, 2019

RBI publishes ‘Payment and Settlement Systems in India: Vision 2019 – 2021’ Date : May 15, 2019 The Reserve Bank of India has today placed on its website the “Payment and Settlement Systems in India: Vision 2019 – 2021”. The Payment Systems Vision 2021 with its core theme of ‘Empowering Exceptional (E)payment Experience’ aims at empowering every… Read More »

Category: RBI

Outsourcing of Cash Management – Reconciliation of Transactions by Banks

By | May 16, 2019

Outsourcing of Cash Management – Reconciliation of Transactions RBI/2018-19/183DCM (Plg) No.2746/10.25.07/2018-19 May 14, 2019 The Chairman / Managing Director /Chief Executive OfficerAll Banks Madam / Dear Sir, Outsourcing of Cash Management – Reconciliation of Transactions As stated in para 15 of the monetary policy statement dated October 04, 2016, the Bank had constituted a Committee on… Read More »

Category: RBI