Regional Rural Bank | Corporate Law Reporter

Priority Sector Lending Classification

RBI/2013-14/379 RPCD.CO.Plan. BC 59/04.09.01/2013-14 November 25, 2013 The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks)] Dear Sir, Priority Sector Lending Classification Please refer to the press release dated November 18, 2013 on the above subject. 2. In view of the reasons explained therein, it is decided to include incremental bank loans… Read More

Tags: Airline, Loan, March 31 2014, November 13 2013, Priority Sector Lending, Regional Rural Bank, Reserve Bank of India, Run batted in

˜At par™ cheque facility extended to Cooperative Banks/RRBs by Scheduled Commercial Banks

RBI/2013-14/344 RPCD.CO.RRB.RCB.BC.No. Cir.No. 48/07.51.010//2013-14 October 29, 2013 The Chairman All Regional Rural Banks (RRBs) All State and Central Co-operative Banks (StCBs and CCBs) Dear Sir, Know Your Customer (KYC)/Anti Money Laundering (AML) Standards/Combating Financing of Terrorism (CFT)/ Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 ˜At par™ cheque facility extended to Cooperative… Read More

Tags: Bank, cheque, Indian Settlement Systems, Know Your Customer, Modern Language Association, money laundering, Prevention of Money Laundering Act 2002, Regional Rural Bank

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

A Profile of Banks: 2012-13

The Reserve Bank of India released on its website A Profile of Banks: 2012-13. The publication, ninth volume in the series, provides bank-wise and bank group-wise information on important performance indicators of all scheduled commercial banks excluding regional rural banks, for the period 2008-09 to 2012-13. The publication covers 21 important indicators, including return on… Read More

Tags: Airline, Bank, Capital adequacy ratio, India, Mumbai, Regional Rural Bank, Reserve Bank of India, Return on assets

National Institute of Bank Management Conclave on Implications of New Bank Licences

(Inaugural address by Shri B. Mahapatra, Executive Director, Reserve Bank of India (RBI) at the PG Students™ Conclave on Implications of New Bank Licences at the National Institute of Bank Management, Pune on September 28, 2013) I have great pleasure and privilege in associating myself with the conclave of the Post Graduate Students of National… Read More

Tags: Banking in India, Basel III, Government of India, India, National Institute of Bank Management, Pune, Regional Rural Bank, Reserve Bank of India

RBI releases ‘Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: March 2013’

The Reserve Bank of India today released on its website ˜Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks, March 2013™. The publication contains data on spatial distribution of aggregate deposits and gross bank credit of scheduled commercial banks including regional rural banks (RRBs) based on Basic Statistical Return (BSR)-7 as on March 31,… Read More

Tags: Commercial bank, Credit (finance), Deposit account, India, Regional Rural Bank, Reserve Bank of India, Run batted in, State Bank of India

RBI Publishes FAQs on Basic Savings Bank Deposit Account

RBI/2013-14/264 RPCD.RRB.RCB.AML.BC.No. 36/07.51.018/2013-14 September 17, 2013 The Chairmen / CEOs of Regional Rural Banks / State and Central Co-operative Banks Dear Sir / Madam, Financial Inclusion- Access to Banking Services Basic Savings Bank Deposit Account (BSBDA) FAQs Please refer to Circular RPCD.CO.RRB.RCB.BC.No.24/07.38.01/2012-13 dated August 22, 2012 on Basic Savings Bank Deposit Account (BSBDA) wherein banks have been… Read More

Tags: Bank, Central bank, FAQ, Financial inclusion, Financial services, General manager, Regional Rural Bank, Reserve Bank of India

RBI Clarification w.r.t. KYC Procedure under PMLA – Recognising online Aadhaar authentication

RBI/2013-14/242 RPCD.RRB.RCB.AML.BC.No.32/07.51.018/2013-14 September 10, 2013 The Chairmen / CEOs of all Regional Rural Banks / State and Central Co-operative Banks Dear Sir, Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 e-KYC Service of UIDAI Recognising on-line Aadhaar authentication… Read More

Tags: Aadhaar, Bank, Biometrics, KYC, Regional Rural Bank, Terrorism financing, UIDAI, Unique Identification Authority of India

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 Services, Banks and Institutions, Business, Death, Financial services, General manager, Regional Office, Regional Rural Bank

RBI Clarification on Swap Window for Attracting FCNR (B) Dollar Funds

RBI/2013-2014/234 FMD.MOAG. No.84 /01.06.016/2013-14 September 6, 2013 To All Scheduled Banks [excluding Regional Rural Banks (RRBs)] Dear Sir/ Madam, Swap Window for Attracting FCNR (B) Dollar Funds Please refer to the RBI Press Release 2013-2014/494 dated September 04, 2013 on the captioned subject. 2. It has been decided to introduce a US Dollar-Rupee swap window for fresh… Read More

Tags: Bank, Deposit account, FCNR, Mumbai, Regional Rural Bank, Reserve Bank of India, Run batted in, Swap rate

RBI releases Discussion Paper on ˜Banking Structure in India – The Way Forward™

The Reserve Bank of India today released on its website a Discussion Paper on ˜Banking Structure in India The Way Forward™. The Discussion paper has identified certain building blocks for the reorientation of the banking structure with a view to addressing various issues such as enhancing competition, financing higher growth, providing specialised services and furthering financial… Read More

Tags: Banking in India, Business, finance, Financial services, India, Regional Rural Bank, Reserve Bank of India, Run batted in

Cabinet Approves interest subvention scheme to provide short-term crop loans to farmers

Interest Subvention to Public Sector Banks (PSBs), Private Sector Banks, Cooperative Banks and Regional Rural Banks (RRBs) and to NABARD for refinance to RRBs and Cooperative Banks for providing short-term crop loan to farmers at interest rate of 7 per cent per annum The Union Cabinet today approved continuation of the interest subvention scheme to… Read More

Tags: Bank, Government, Interest, Kisan Credit Card, Loan, National Bank for Agriculture and Rural Development, Regional Rural Bank, Subsidy

Recommendations of Damodaran Committee on Customer Service in Banks- Uniformity in Intersol Charges

RBI/2013-14/166 RPCD.RRB.BC.No.17/03.05.33/2013-14 July 31, 2013 All Regional Rural Banks Dear Sir/ Madam Recommendations of Damodaran Committee on Customer Service in Banks- Uniformity in Intersol Charges Please refer to announcement made in Monetary Policy Statement 2013-14 on May 3, 2013 on ˜Recommendations of Damodaran Committee- Uniformity in Intersol Charges™. 2. With the introduction of Core Banking Solution (CBS),… Read More

Tags: Branch (banking), CBS, Core banking, Customer, Customer service, Discrimination, Monetary policy, Regional Rural Bank