Category Archives: RBI

RBI asked Banks to carry Technical Audit of Prepaid Payment Instrument issuers

By | December 10, 2016
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RBI/2016-17/178 DPSS.CO.OSD.No.1485/06.08.005/2016-17 December 09, 2016 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all other Prospective Prepaid Payment Instrument Issuers Dear Sir, Security and Risk Mitigation measure – Technical Audit of Prepaid Payment Instrument issuers With the withdrawal of legal tender characteristics of existing ₹ 500/- and ₹ 1000/- Bank Notes (Specified Bank… Read More »

RBI Amendmded Master Direction on KYC

By | December 10, 2016
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RBI/2016-17/176 DBR.AML.BC. No. 18/14.01.001/2016-17 December 8, 2016 All Regulated Entities (REs) Dear Sir/Madam, Amendment to Master Direction (MD) on KYC In exercise of the powers conferred under Section 35A of the Banking Regulation Act, 1949 and section 35A read with section 56 of that Act, Rule 9 (14) of the Prevention of Money Laundering (Maintenance… Read More »

Category: RBI

RBI Amended Master Direction on Know Your Customer

By | December 10, 2016
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Amendment to Master Direction on Know Your Customer RBI/2016-17/177 DBR.AML.BC.47/14.01.01/2016-17 December 8, 2016 All Regulated Entities Dear Sir/Madam, Amendment to Master Direction on Know Your Customer In exercise of the powers conferred under Section 35A of the Banking Regulation Act, 1949, it has been decided to make certain amendments to the Master Direction on Know… Read More »

Cash withdrawal from Bank and use of RS 500 old note : RBI updated FAQ 04.12.2016

By | December 5, 2016
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Withdrawal of Legal Tender Character of the old Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on December 05, 2016) 1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even… Read More »

New Rs 50 bank Notes to be issued by RBI

By | December 4, 2016
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Issuance of Rs 50 banknotes without inset letter, with numerals in ascending size in number panels, and without intaglio printing The Reserve Bank of India will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number panels, bearing signature of Dr. Urjit R Patel, Governor, Reserve Bank… Read More »

RBI extend time for deployment of Aadhaar-enabled devices till June 30, 2017 for processing payment transactions

By | December 3, 2016
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RBI/2016-17/170 DPSS.CO.PD No.1421/02.14.003/2016-17 December 02, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/ Authorised Card Payment Networks / White Label ATM Operators / Payments Banks / Small Finance Banks Dear Madam / Sir, Aadhaar-based… Read More »

External Commercial Borrowings (ECB) -FAQ’s

By | December 2, 2016
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External Commercial Borrowings Source : Reserve Bank of India These FAQs attempt to put in place the common queries that users have on the subject in easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued thereunder may be referred to. The… Read More »

Market Stabilisation Scheme (MSS) – Revision of ceiling for 2016-17

By | December 2, 2016
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Market Stabilisation Scheme (MSS) – Revision of ceiling for 2016-17 Date : Dec 02, 2016 Please refer to the Press Release dated June 22, 2016 on fixation of ceiling for MSS for 2016-17. After the withdrawal of the legal tender character of the ₹ 500 and ₹ 1000 denomination notes with effect from November 9,… Read More »

Issuance of 28 days Cash Management Bills under Market Stabilisation Scheme (MSS)

By | December 2, 2016
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Date : Dec 02, 2016 The Reserve Bank of India has announced the auction of the 28 days Government of India Cash Management Bills for a notified amount of ₹ 20,000 crore today, December 02, 2016 using “Multiple Price Auction” method. The bids for the auction should be submitted in electronic format on the Reserve… Read More »