Category - FEMA

Discontinuation of over the Counters Exchange of SBN

RBI/2016-17/155 DCM (Plg) No.1391/10.27.00/2016-17 November 24, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir, Discontinuation of over the Counters Exchange of SBN Please refer to our circular DCM (Plg) No.1302/10.27.00/2016-17 dated November 17,… Read More

RBI’s Path towards Liberalisation.

The Reserve Bank of India (RBI) lies at the apex of the banking and financial structure of the country. Recently, it published various notifications that loosened certain restrictions and espoused a smooth-running of its policies. The predominant features are discussed hereunder. 1. FDI norms liberalized for NBFC’S: During the Budget Speech of 2016, the Esteemed… Read More

Tags: Central bankIndian Corporate LawReserve Bank of India

Withdrawal of Legal Tender Character of Specified Bank Notes – Compliance with provisions of 114B of the Income Tax Rules, 1962

RBI/2016-17/135 DCM (Plg) No.1287/10.27.00/2016-17 November 16, 2016 The Chairman / Managing Director/Chief Executive Officer Public Sector Banks / Private Sector Banks/ Foreign Banks Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks Dear Sir, Withdrawal of Legal Tender Character of Specified Bank Notes – Compliance with provisions of 114B of the Income Tax… Read More

Section 23 of the Banking Regulation Act, 1949 – Master Circular on Branch Licensing – Census data 2011

RBI/2016-17/134 DBR.RRB.BC.No.36/31.01.002/2016-17 November 16 , 2016 All Regional Rural Banks Dear Sir / Madam, Section 23 of the Banking Regulation Act, 1949 - Master Circular on Branch Licensing - Census data 2011 Please refer to our Master circular on Branch Licensing DBR.CO.RRB.BL.BC.No.17/31.01.002/2015-16 dated July 1, 2015. As the Census data for 2011 are available in public… Read More

Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Daily Reporting

RBI/2016-17/136 DCM (Plg) No.1291/10.27.00/2016-17 November 16, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Daily Reporting Please refer… Read More

Usage of ATMs – Waiver of customer charges

RBI/2016-17/132 DPSS.CO.PD.No.1240/02.10.004/2016-2017 November 14, 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 White Label ATM Operators Dear Madam/ Sir, Usage of ATMs – Waiver of customer charges A reference is invited to the circular… Read More

Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Daily Reporting

RBI/2016-17/136 DCM (Plg) No.1291/10.27.00/2016-17 November 16, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Daily Reporting Please refer… Read More

Standard Operating Procedure (SOP) for putting indelible ink on the finger of the customers coming to a bank branch for SBNs

RBI/2016-17/133 DCM (Plg) No.1280/10.27.00/2016-17 November 15, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks/ Foreign Banks Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks Dear Sir Standard Operating Procedure (SOP) for putting indelible ink on the finger of the customers coming to a bank branch… Read More

Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Applicability of the Scheme to DCCBs

RBI/2016-17/130 DCM (Plg) No.1273/10.27.00/2016-17 November 14, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks/ Foreign Banks/Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks/ District Central Cooperative Banks Dear Sir, Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Applicability… Read More

Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes –Limit for Withdrawal of Cash

RBI/2016-17/123 DCM (Plg) No.1251/10.27.00/2016-17 November 10, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes –Limit for Withdrawal of Cash… Read More

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