Banking Services

RBI Simplification of Procedure Settlement of Claims of Deceased Depositor

RBI/2013-14/245 RPCD.CO.RRB.BC.No. 33/03.05.33 /2013-14 September 10, 2013 The Chairmen All Regional Rural Banks Dear Sir/Madam, Settlement of Claims of Deceased Depositor Simplification of Procedure Placing of claim forms on bank™s website Please refer to circular RPCD.CO.RRB.BC.22/03.05.33/2005-06 dated July 19, 2005 and wherein simplified procedure has been specified for settlement of claims of deceased depositors. We have been… Read More

Tags: Banking ServicesBanks and InstitutionsBusinessDeathFinancial servicesGeneral managerRegional OfficeRegional Rural Bank

RBI Notification on Clean Note Policy

RBI/2013-14/183 DCM (NPD) No. G-11 /09.39.000 /2013-14 August 14, 2013 The Chairman and Managing Director / The Chief Executive Officer All Banks (including Co-operative banks and RRBs) Madam / Dear Sir, Clean Note Policy Please refer Bank™s directive vide DBOD No. Dir. BC. 43/13.03.00/2001-02 dated November 07, 2001 and circular DCM (NPD) No. 5133/09.39.000/2012-13 dated May 10, 2013 on… Read More

Tags: BankBank of EnglandBanking ServicesBanknoteBusinessFinancial servicesJane AustenMark Carney

Priority Sector Lending-Targets and Classification-Bank loans to MFIs for on-lending-Amendment in income generation criteria

RBI/2012-13/558 RPCD.CO.Plan.BC 80/04.09.01/2012-13 June 27, 2013 The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks)] Madam/Dear Sir, Priority Sector Lending-Targets and Classification-Bank loans to MFIs for on-lending- Amendment in income generation criteria Please refer to Paragraph VIII (a) of circular No. RPCD.CO.Plan. BC.13/04.09.01/2012-13 dated July 20, 2012 on Priority Sector Lending-Targets… Read More

Tags: Banking ServicesBanks and InstitutionsBusinessFinancial servicesGeneral managerList of Latin phrases (I)LoanMicrofinance

RBI Rationalisation of Returns

RBI/2012-2013/556 MPD.PMD .BC.365/07.01.279/2012-13 June 27, 2012 Ashadha 6, 1935 (S) To, All Scheduled Commercial Banks Dear Sir / Madam, Rationalisation of Returns Please refer to our circular MPD.BC.218/07.01.279/2002-03 dated July 24, 2002 on the captioned subject. 2. At present, banks are submitting following SFR Returns/Statements. SFR II SFR III SFR VIII Statement on daily maintenance of SLR… Read More

Tags: Banking ServicesBanks and InstitutionsBusinessChief executive officerCommercial bankFinancial servicesIndiaReserve Bank of India

RBI Notification on NBFC-MFIs Directions Modifications in Pricing of Credit & Margin cap

RBI/2012-13/517 DNBS (PD) CC.No.327/03.10.038/2012-13 May 31, 2013 All NBFCs Dear Sir, ˜Non Banking Financial Company-Micro Finance Institutions™ (NBFC-MFIs) Directions Modifications in Pricing of Credit - Margin cap Attention is invited to para 6 of DNBS.(PD)CC.No.300/03.10.38/2011-12 dated August 3, 2012 modifying inter alia the pricing of credit as given in DNBS.CC.PD.No.250/03.10.01/2011-12 dated December 2, 2011.  On a review, it… Read More

Tags: Banking ServicesBusinessFinancial institutionFinancial servicesIndiaNon-banking financial companyReserve Bank of India

Frauds Classification and Reporting

RBI/2012-13/505 DBS.FrMC.BC.No. 6/23.04.001/2012-13 May 23, 2013 The Chairmen & Chief Executive Officers of all Scheduled Commercial Banks (excluding RRBs) and All India Select Financial Institutions Dear Sir, Frauds Classification and Reporting Please refer to Para 3.1.3 of circular DBS. FrMC. BC. No. 1/23.04.001/2012-13 dated July 02, 2012 i.e. the Master Circular on 'Frauds Classification and Reporting' which… Read More

Tags: Banking ServicesBusinessFinancial institutionFinancial servicesGeneral managerIndiaReserve Bank of IndiaRun batted in

Delay in re-presentation of technical return cheques and levy of charges for such returns

RBI/2012-13/493 DPSS.CO.CHD.No. 2030/03.06.01/2012-2013 May 7, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs /Local Area Banks Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Madam / Dear Sir, Delay in re-presentation of technical return cheques and levy of charges for such returns As… Read More

Tags: BankBanking ServicesBusinesschequeClearing (finance)Financial servicesNegotiable Instrument

RBI proposes New Capital Adequacy Framework

RBI/2012-13/467 DBOD.No.BP.BC.89.21.04.009/2012-13 April 02, 2013 All Scheduled Commercial Banks (Excluding Local Area Banks & Regional Rural Banks) Dear Sir/ Madam, New Capital Adequacy Framework- Non-market related Off Balance Sheet Items - Bank Guarantees Please refer to the Master Circular DBOD.No.BP.BC.16/21.06.001/2012-13 dated July 2, 2012 on ˜Prudential Guidelines on Capital Adequacy and Market Discipline- New Capital Adequacy Framework (NCAF)™.… Read More

Tags: Balance sheetBankBanking ServicesBusinessFinancial servicesLoanNew Capital Adequacy FrameworkSurety

Reserve Bank of India penalizes Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad

The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47 A (1) (b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad for violation of the… Read More

Tags: AhmedabadBankBanking Regulation ActBanking ServicesBusinessFinancial servicesReserve Bank of IndiaRun batted in

Inclusion of Westpac Banking Corporation in the Second Schedule to the RBI Act 1934

RBI/2012-13/457 Ref: DBOD. No.Ret. BC.86/12.07.136/2012-13 March 22, 2013 All Scheduled Commercial Banks Dear Sir, Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 Westpac Banking Corporation We advise that the name of Westpac Banking Corporation" has been included in the Second Schedule to the Reserve Bank of India Act, 1934 by… Read More

Tags: Banking ServicesBusinessFinancial servicesGazette of IndianotificationReserve Bank of IndiaReserve Bank of India ActRun batted in

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates