Category Archives: RBI

Opening of Current Accounts by Banks : Guidelines isued by RBI

By | September 25, 2021
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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 »

Category: RBI

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

By | August 23, 2019
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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.75/02.01.001/2012-13 dated May 10, 2013 and RPCD.CO.LBS.BC.No.11/02.01.001/2013-14 dated July 9, 2013regarding… Read More »

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

By | August 23, 2019
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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 / Dear Sir,… Read More »

Category: RBI

Usage of ATMs – Free ATM transactions – Clarifications

By | August 23, 2019
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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… Read More »

RTGS and NEFT Charges waived by RBI from 01.07.2019

By | June 14, 2019
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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
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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 »