RBI/2016-17/273 DBR.IBD.BC.59/23.13.004/2016-17 April 10, 2017 All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir/Madam, Setting up of IFSC Banking Units (IBUs) – Permissible activities Please refer to RBI circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015, as modified from time to time, setting out RBI directions relating to IFSC Banking Units (IBUs). We have received a… Read More »
Systems and Controls for conduct of government banking RBI/2016-17/271 DGBA.GAD.No.2646/31.02.007/2016-17 April 7, 2017 All Agency Banks Dear Sir/Madam, Systems and Controls for conduct of government banking Please refer to our Master Circulars DGBA.GAD.No.2/31.12.010/2015-16 dated July 1, 2015 on Conduct of Government Business by Agency Banks – Payment of Agency Commission and DGBA.GAD.No.H-1/31.05.001/2015-16 dated July 1,… Read More »
RBI/2016-17/270 DBR.No.Ret.BC.58/12.01.001/2016-17 April 06, 2017 The Chairperson / CEOs of all Scheduled and Non Scheduled Banks Dear Sir / Madam, Change in Bank Rate Please refer to our circular DBR.No.Ret.BC.19/12.01.001/2016-17 dated October 04, 2016 on the captioned subject. 2. As announced in the First Bi-Monthly Monetary Policy Statement 2017-18 dated April 06, 2017, the Bank… Read More »
RBI/2016-17/267 DGBA.GAD.2618/15.02.005/2016-17 April 6, 2017 The Chairman/Chief Executive Officer Agency Banks handling Public Provident Fund, Kisan Vikas Patra- 2014, Sukanya Samriddhi Account, Senior Citizen Savings Scheme-2004 Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GAD.2012/15.02.005/2016-17 dated February 9, 2017 on the above subject. The Government of India, had vide their… Read More »
Reserve Bank of India (RBI) to up a separate Enforcement Department; proposed to be opened on April 3, 2017 Reserve Bank of India (RBI) is setting up a separate Enforcement Department. The Enforcement Department (EFD) is proposed to be opened on April 3, 2017, to separate those who oversee the possible rule breaches and those… Read More »
Date : Mar 30, 2017 RBI seeks comments on draft Master Directions on Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India – Extension of timeline The Reserve Bank of India has extended the time for receipt of comments/ suggestions/ feedback on draft Master Directions on issuance and operation of pre-paid payment instruments (PPIs)… Read More »
Date : Mar 30, 2017 The Reserve Bank of India today placed on its website the Technical Guidance Note on XBRL Returns – Harmonization of Banking Statistics. Background The Reserve Bank collects data in the form of returns from banks as part of statutory, regulatory, supervisory, policy and research requirements. Since the data is used… Read More »
RBI/2016-17/262 FIDD.CO.LBS.BC. No. 26/02.01.001/2016-17 March 30, 2017 The Chairmen and Managing Directors SLBC Convenor Banks Dear Sir, Assignment of Lead Bank Responsibility As per the Gazette of India Notification dated February 22, 2017, the merger of Associate banks with State Bank of India has been notified. The Order comes into effect on April 1, 2017.… Read More »
RBI/2016-17/264 DPSS.CO.PD No.2737/02.14.003/2016-17 March 30, 2017 The Chairman and Managing Directors / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Payments Banks and Small Finance Banks / All Card Network Providers Dear Madam / Sir, Rationalisation of Merchant Discount Rate… Read More »
Date : Mar 30, 2017 It has been decided, in consultation with the Government of India, that the limit for Ways and Means Advances (WMA) for the first half of the financial year 2017-18 (April 2017 – September 2017) will be at ₹ 60,000 crore. The Reserve Bank may trigger fresh floatation of market loans… Read More »