Category Archives: RBI

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

By | June 1, 2019
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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
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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
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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
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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
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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

Ombudsman Scheme for NBFC 2018

By | April 27, 2019
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Ombudsman Scheme for Non-Banking Financial Companies, 2018 Ref. CEPD. PRS. No.4535/13.01.004/2018-19 April 26, 2019 The Reserve Bank of India (RBI) had vide Notification Ref.CEPD.PRS.No.3590/13.01.004/2017-18 dated February 23, 2018, implemented the Ombudsman Scheme for Non-Banking Financial Companies (NBFCs) as defined in Section 45-I(f) of the Reserve Bank of India Act, 1934 and registered with the RBI under… Read More »

Minimum Standards for a Currency Chest : RBI

By | April 10, 2019
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RBI/2018-19/166DCM (CC) No.2482/03.39.01/2018-19 April 08, 2019 Chairman/Managing Director/Chief Executive DirectorAll banks Madam/Sir, Minimum Standards for a Currency Chest As stated in para 15 of the monetary policy statement dated October 04, 2016, the Bank had constituted a Committee on Currency Movement (CCM) [Chair: Shri D.K. Mohanty, Executive Director]. The Committee, inter-alia, recommended that the Reserve Bank… Read More »

Exchange Rates of Foreign Currencies for Imported and Export Goods from 05th April 2019

By | April 4, 2019
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Exchange Rates of conversion of Foreign Currencies notified for Imported and Export Goods Posted On: 04 APR 2019 In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super-session of the notification of the Central Board of Indirect Taxes and Customs (CBIC) No.24/2019-CUSTOMS (N.T.), dated 20th March,… Read More »

Deferral of Implementation of Indian Accounting Standards (Ind AS) by RBI

By | March 26, 2019
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Deferral of Implementation of Indian Accounting Standards (Ind AS) RBI/2018-2019/146DBR.BP.BC.No.29/21.07.001/2018-19 March 22, 2019 All Scheduled Commercial Banks(excluding Regional Rural Banks) Madam / Dear Sir, Deferral of Implementation of Indian Accounting Standards (Ind AS) Please refer to paragraph 3 of the Statement on Developmental and Regulatory Policies issued with the First Bi-monthly Monetary Policy 2018-19 on April 5,… Read More »

Trade Credit Policy – Revised framework by RBI

By | March 13, 2019
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RBI/2018-2019/140A.P. (DIR Series) Circular No. 23 March 13, 2019 To All Category-I Authorised Dealer Banks Madam / Sir, Trade Credit Policy – Revised framework Attention of Authorised Dealers is invited to the rationalised principal regulation governing the External Commercial Borrowings (ECB) and Trade Credits already notified on December 17, 2018 through the Foreign Exchange Management… Read More »