General Manager | Corporate Law Reporter

RBI releases Report of the Committee on Financial Benchmarks

The Reserve Bank of India has, today, placed on its website, the Report of the Committee on Financial Benchmarks. It may be recalled that the Reserve Bank had announced the constitution of the Committee on Financial Benchmarks (Chairman: Shri P. Vijaya Bhaskar, Executive Director) on June 28, 2013 with a mandate to study various issues… Read More

Tags: Committee, Executive director, General manager, India, Press Release, Reserve Bank of India, Run batted in, Vijaya Bhaskar

Withdrawal of all old series of Banknotes issued prior to 2005

RBI/2013-2014/467 DCM(Plg) No.G-17/3231/10.27.00/2013-14 January 23, 2014 The Chairman / Managing Director/ Chief Executive Officer All Scheduled Commercial Banks Primary(Urban) Co-operative Banks/RRBs Dear Sir /Madam Withdrawal of all old series of Banknotes issued prior to 2005 As you are aware, RBI has been following a policy of phasing out of certain series of banknotes from time… Read More

Tags: Banknote, Branch (banking), General manager, Legal tender, March 31 2014, Reserve Bank of India, Run batted in, Sanjeev Sharma

Prepaid Payment Instruments issued by Non-Banking Institutions

RBI/2013-14/461 DNBS(PD).CC. No 368 /03.10.01 /2013-14 January 24 , 2014 All Non Banking Financial Companies Dear Sirs, Prepaid Payment Instruments issued by Non-Banking Institutions Nonbanking institutions (NBIs) are allowed to issue prepaid payment instruments (PPIs) and collect money in this behalf from the customers, subject to authorisation under the Payment and Settlement Systems Act (PSS… Read More

Tags: Cuffe Parade, Financial institution, General manager, Mumbai, NSV machine gun, Reserve Bank of India, Run batted in, Settlement Systems Act

Monitoring of Foreign Investment by NRIs/PIOs under PIS in Indian Companies

The Reserve Bank of India has today notified that the aggregate net purchases of equity shares in M/s Kama Holdings Limited by Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) in the primary/secondary markets under Portfolio Investment Scheme (PIS) have reached the trigger limit. Accordingly, no further purchases of this company would be allowed through stock… Read More

Tags: foreign direct investment, General manager, India, Indian Origin, Non-resident Indian and person of Indian origin, Persons, Reserve Bank of India, Stock exchange

Liquidity Adjustment Facility- Reverse Repo

RBI/2013-14/451 FMD.MOAG. No.95/01.01.001/2013-14 January 17, 2014 All Scheduled Commercial Banks (excluding RRBs) and Standalone Primary Dealers Madam / Sir, Liquidity Adjustment Facility- Reverse Repo Based on the feedback received from the market participants, it has been decided to revise the timings of Reverse Repo window under Liquidity Adjustment Facility (LAF). The Reverse Repo window will now… Read More

Tags: General manager, January 20 2014 Monday, LAF, Liquidity Adjustment Facility, Monetary policy, Repurchase agreement, Reverse Repo, Run batted in

Distribution of Banknotes & Coins Review of Incentives & Penalties

RBI/2013-14/450 DCM (CC) No.G-16/03.39.01/2013-14 January 13, 2014 The Chairman & Managing Directors/ Chief Executive Officers All Scheduled Commercial Banks (Including RRBs, UCBs, State Cooperative Bank & District Central Cooperative Banks) Dear Sir / Madam, Distribution of Banknotes & Coins Review of Incentives & Penalties Please refer to Sl No.4 of our Circular DCM (CC) No.G-10/03.39.01/2013-14 dated… Read More

Tags: Bank, Business, Commercial bank, Distinguished Conduct Medal, General manager, Jpmorgan Chase, Madam, Reserve Bank India

Risk Management and Inter Bank Dealings

RBI/2013-2014/446 A.P. (DIR Series) Circular No. 92 January 13, 2014 All Category - I Authorised Dealer banks Madam/Sir, Risk Management and Inter Bank Dealings Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA/25/RB-2000 dated May 3,… Read More

Tags: Anno Domini, Capital account, Categories of New Testament manuscripts, Contract, Foreign Exchange Management Act, Forward contract, General manager, Risk management

Alteration in the name of “Development Credit Bank Limited” to “DCB Bank Limited” in the Second Schedule to the Reserve Bank of India Act, 1934

RBI/2013-14/442 Ref.DBOD.No.Ret.BC /83/12.06.097/2013-14 January 10, 2014 All Scheduled Commercial Banks Dear Sir Alteration in the name of "Development Credit Bank Limited" to "DCB Bank Limited " in the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the name of "Development Credit Bank Limited has been changed to "DCB Bank Limited"… Read More

Tags: Business, Caesarean section, Commercial bank, Financial services, Gazette of India, General manager, Reserve Bank of India, Reserve Bank of India Act

RBI sets up Committee on Data and Information Management in the Reserve Bank of India

The information requirement for monetary and macro financial policies as well as supervision has become more demanding with the increasing integration of the Indian economy and markets with the global economy. Periodic assessment of the institutional process of data capture and management, therefore, becomes important to strengthen the information base of policy making. However, for… Read More

Tags: Chief Information Officer, Committee, Deepak Mohanty, General manager, India, Reserve Bank, Reserve Bank of India, Run batted in

Timely Issue of TDS Certificate to Customers

RBI/2013-14/401 UBD.CO.BPD.(PCB).Cir.No. 41/12.05.001/2013-14 December 5, 2013 To, The Chief Executive Officer All Urban Co-operative Banks Dear Sir / Madam, Timely Issue of TDS Certificate to Customers It has been brought to our notice that some banks are not providing TDS Certificate in Form 16A to their customers in time, causing inconvenience to customers in filing… Read More

Tags: Banking Regulation Act, Customer, Customer service, General manager, Income tax, Tax return (United States), TDS Certificate, Timely Issue of TDS Certificate

Unsecured Exposure Norms for UCBs

RBI/2013-14/321 UBD CO BPD (PCB) Cir. No.29/13.05.000/2013-14 October 10, 2013 The Chief Executive Officers All Primary (Urban) Co-operative Banks Dear Sir / Madam, Unsecured Exposure Norms for UCBs Please refer to our circular UBD BPD (PCB) Cir. No.45/13.05.000/2012-13 dated April 03, 2013 on the captioned subject exempting UCBs fulfilling certain conditions from the extant ceiling of 10%… Read More

Tags: Balance sheet, Diodeâ€“transistor logic, Fiscal year, General manager, Printed circuit board, Reserve Bank of India, Urban, Urban area

RBI Clarification on Unclaimed Scholarship deposits

RRBs - Unclaimed Deposits/Inoperative Accounts in Regional Rural Banks - Treatment of certain savings bank accounts opened for credit of Scholarship amounts and credit of Direct Benefit Transfer under Government Schemes --------------------------------------- RBI/2013-14/312 RPCD.CO.RRB.BC.No.41/03.05.33/2013-14 October 4, 2013 The Chairmen Regional Rural Banks Dear Sir/Madam, Unclaimed Deposits/Inoperative Accounts in Regional Rural Banks - Treatment of certain… Read More

Tags: Bank, Bank account, CBS, Credit (finance), Current account, Direct Benefit Transfer, General manager, Regional Rural Bank

Review of Norms for Classification of Financially Sound and Well Managed UCBs

RBI/2013-14/308 UBD.CO.LS.(PCB).Cir.No.24/07.01.000/2013-14 October 1, 2013 Chief Executive Officers of all Primary (Urban) Co-operative Banks Dear Sir/ Madam, Review of norms for classification of Financially Sound and Well Managed (FSWM) Urban Co-operative Banks (UCBs) Please refer to para 1 of our circular ref: UBD.CO.LS.Cir.No.25/07.01.000/2010-11 dated November 16, 2010 wherein the eligibility criteria regarding FSWM UCBs were laid down.… Read More

Tags: Bank, General manager, Printed circuit board, Reserve Bank of India, Run batted in, Statutory Liquidity Ratio, Urban, Urban area