Lending against Gold Jewellery
RBI/2013-14/453 DBOD.BP.BC.No.86 /21.01.023 /2013-14 January 20, 2014 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Lending against Gold Jewellery Please refer to our circular DBOD.No.BC.138/21.01.023/94 dated November 22, 1994 on ˜Advances against Gold Ornaments and Jewellery for the purpose of Medical Expenses and Meeting Unforeseen Liabilities™, wherein banks were advised that while granting advances against… Read More
Tags: Board of directors, Gold, India, Jewellery, Loan, Loan-to-value ratio, Mumbai, Rajesh Verma
Legal Guardianship Certificates Issued under the Mental Health Act, 1987and National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999
RBI/2013-14/444 DBOD.No.Leg.BC.84/09.07.005/2013-14 January 13, 2014 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Legal Guardianship Certificates Issued under the Mental Health Act, 1987and National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 Please refer to our Circular DBOD.No.Leg.BC.51/09.07.005/2007-08 dated November 19, 2007 wherein banks were advised, inter alia,… Read More
Tags: Autism, cerebralpalsy, Handicapped, Health, Local Level Committee, Mental Retardation, Neurological Disorders, Rajesh Verma
Charges Levied by Banks for Sending SMS Alerts
RBI/2013-14/381 DBOD. No. Dir. BC. 67/13.10.00/2013-14 November 26, 2013 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/ Madam Charges Levied by Banks for Sending SMS Alerts Please refer to paragraph 37 of the Second Quarter Review of Monetary Policy Statement 2013-14 announced on October 29, 2013 (extract enclosed) on ˜Customer Service- Charges Levied by Banks… Read More
Tags: Alert messaging, Banks, Commercial bank, Diode-pumped solid-state laser, Monetary policy, Rajesh Verma, Reserve Bank of India,
Timely Issue of TDS Certificate to Customers
RBI/2013-14/361 DBOD.No.Leg.BC.65/09.07.005/2013-14 November 6, 2013 All Scheduled Commercial Banks (excluding RRBs) 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 income-tax returns timely. 2. The matter… Read More
Tags: Banks, Fiscal year, Income tax, New Delhi, Rajesh Verma, Tax, Tax Deducted at Source, TDS Certificate
RBI directive on Unclaimed Deposits/Inoperative Accounts in banks w.r.t. credit of Scholarships and DBT
RBI/2013-14/262 DBOD.No. Leg. BC. 53/09.07.005/2013-14 September 17, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Unclaimed Deposits/Inoperative Accounts in banks Treatment of certain savings bank accounts opened for credit of Scholarship amounts and credit of Direct Benefit Transfer under Government Schemes Please refer to Circular DBOD. No. Leg.BC.34/09.07.005/2008-09 dated August 22, 2008 on unclaimed deposits/inoperative accounts wherein… Read More
Tags: Bank, Bank account, Business, CBS, Commercial bank, Direct Benefit Transfer, Financial services, Rajesh Verma
RBI Publishes FAQs on Basic Savings Bank Deposit Account
RBI /2013-14/246 DBOD.No. Leg.52 / 09.07.005/2013-14 September 11, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Financial Inclusion- Access to Banking Services Basic Savings Bank Deposit Account (BSBDA) - FAQs Please refer to Circular DBOD.No. Leg.BC.35 / 09.07.005/2012-13 dated August 10, 2012 on the above subject wherein banks have been advised to offer ˜Basic Savings Bank… Read More
Tags: Bank, Business, Commercial bank, FAQ, Financial inclusion, Financial services, Rajesh Verma, Run batted in
RBI observation on Disclosure of customer complaints and unreconciled balances on account of ATM transactions
RBI/2013-14/218 DBOD.BP.BC.No. 49/21.04.018/2013-14 September 3, 2013 The Chairman and Managing Director/Chief Executive Officer of all Commercial Banks (Excluding Regional Rural Banks) Dear Sir Disclosure of customer complaints and unreconciled balances on account of ATM transactions Please refer to our circular DBOD.No.Leg BC.60/09.07.005/2006-07 dated February 22, 2007 on Analysis and Disclosure- Disclosure of Complaints / Unimplemented Awards of… Read More
Tags: ATM, Automated teller machine, Bank, Business, Commercial bank, Complaint, Financial services, Rajesh Verma
RBI observation on Innovative Housing Loan Products – Advises banks on risks
RBI/2013-14/217 DBOD.BP.BC.No. 51/08.12.015/2013-14 September 3, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Housing Sector: Innovative Housing Loan Products Upfront disbursal of housing loans It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, e.g. upfront disbursal of sanctioned individual housing loans to the builders without… Read More
Tags: Bank, Construction, Loan, Lump sum, Mortgage loan, Public housing, Rajesh Verma, Upfront
RBI :: Simplification of Procedure Settlement of Claims of Deceased Depositor & Placing claim forms on bank™s website
RBI/2013-14/214 DBOD.No.Leg.BC.48/09.07.005/2013-14 September 03, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Settlement of Claims of Deceased Depositor Simplification of Procedure Placing of claim forms on bank™s website Please refer to circular DBOD.No.Leg.BC.95 /09.07.005/2004-05 dated June 09, 2005 wherein simplified procedure has been specified for settlement of claims of deceased depositors. We have been receiving feedback… Read More
Tags: Bank, Business, Commercial bank, Financial services, General manager, Government of India, India, Rajesh Verma
RBI Circular w.r.t. Investment portfolio of banks Classification, Valuation and Provisioning
RBI/2013-14/198 DBOD.BP.BC.No. 41/21.04.141/2013-14 August 23, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Investment portfolio of banks Classification, Valuation and Provisioning Please refer to our Circular DBOD.No.BP.BC.92/21.04.141/2012-13 dated May 15, 2013 on ˜SLR Holdings under Held to Maturity Category™ in terms of which banks are permitted to exceed the limit of 25 per cent of total… Read More
Tags: Bank, HTM, HTM Personenvervoer, Mark-to-market accounting, NDTL, Rajesh Verma, Statutory Liquidity Ratio, Valuation
Master Circular – Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by FIs
RBI/2013-14/79 DBOD.No.FID.FIC.3/01.02.00/2013-14 July 1, 2013 The CEOs of the All-India Term Lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Dear Sir, Master Circular - Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by FIs Please refer to Master Circular DBOD.No.FID.FIC.3/01.02.00/2012-13 dated July 02, 2012 on the captioned subject. The enclosed Master Circular consolidates and updates… Read More
Tags: EXIM bank, India, Master Circular, National Bank for Agriculture and Rural Development, Rajesh Verma, Reserve Bank of India, Small Industries Development Bank of India, Valuation
Master Circular on Customer Service in Banks
RBI/2013-14/69 DBOD No.Leg.BC. 22 /09.07.006/2013-14 July 1, 2013 Ashadha 10, 1935 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir, Master Circular on Customer Service in Banks Please refer to the Master Circular DBOD.No.Leg.BC. 21/09.07.006/2012-13 dated July 02, 2012 consolidating many of the important instructions issued by us in the area of customer service up to June 30,… Read More
Tags: Bank, Commercial bank, Customer service, General manager, June 30 2013, Master Circular, Rajesh Verma, Reserve Bank of India
Master Circular on Wilful Defaulters
RBI/2013-14/63 DBOD No. CID.BC. 3 /20.16.003/2013-14 July 1, 2013 i) All scheduled commercial banks (excluding RRBs and LABs) and ii) All India Notified Financial Institutions Dear Sir, Master Circular on Wilful Defaulters As you are aware, the Reserve Bank of India has, from time to time, issued a number of circulars to banks and financial… Read More
Tags: finance, Financial institution, Foreign Exchange Management Act, India, Master Circular, Rajesh Verma, Reserve Bank of India
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