RBI - Corporate Law Reporter

RBI to ramp up supply of Rupees 200 notes

The Reserve Bank of India introduced the Rs. 200 denomination notes today. Introduction of this denomination is expected to facilitate exchange transactions for the common man and provide complete series of denomination for transactions at the lower end. These notes are available only through select RBI offices and banks as is normal when a new… Read More

RBI notifies Credit Information Companies (Amendment) Regulations, 2017

RESERVE BANK OF INDIA NOTIFICATION Mumbai, the 11th August, 2017 THE CREDIT INFORMATION COMPANIES (AMENDMENT) REGULATIONS, 2017 No. BBR.CID. No. 786/20.16.050/2017-18.—In exercise of the powers conferred by section 37 of the Credit Information Companies (Regulation) Act, 2005 (Act 30 of 2005), the Reserve Bank of India hereby makes the following regulations, to amend the Credit… Read More

Reserve Bank of India to issue Rs.200 note soon

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 23rd August, 2017 S.O.2740 (E).—In exercise of the powers conferred by sub-section (1) of section 24 of the Reserve Bank of India Act, 1934 and on the recommendations of the Central Board of Directors of the Reserve Bank of India, the Central Government hereby… Read More

RBI Introduces 50 banknote in Mahatma Gandhi (New) Series

RBI Introduces 50 banknote in Mahatma Gandhi (New) Series The Reserve Bank of India will shortly issue ₹ 50 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Hampi with Chariot on the reverse, depicting the country’s cultural heritage. The… Read More

RBI assists IDRBT in dealing with Core Banking Solution requirements in UCB’s

RBI/2017-18/47 DCBR.BPD.PCB.Cir.No.03/09.18.300/2017-18 August 16, 2017 Chief Executive Officers All Primary (Urban) Co-operative Banks Madam / Dear Sir, Core Banking Solution (CBS) Requirements for Urban Co-operative Banks (UCBs) Please refer to our circular DCBR.CO.PCB.Cir.No.14/09.18.300/2015-16 dated April 13, 2016 announcing the Scheme for providing financial assistance to urban co-operative banks for implementation of Core Banking Solution (CBS). 2. As… Read More

NBFC’s to rate Fixed Deposits portfolios with Eligible Credit Rating Agencies

RBI/2017-18/45 DNBR (PD).CC.No.89/03.10.001/2017-18 August 14, 2017 All Deposit Taking NBFCs (except Residuary Non-Banking Companies) Madam/Sir, Eligible Credit Rating Agencies- Rating of Fixed Deposits by Infomerics Valuation and Rating Private Limited (IVRPL) A reference is invited to para 9 of the Master Direction DNBR. PD.002/03.10.119/2016-17 dated August 25, 2016 on Non-Banking Financial Companies Acceptance of Public Deposits (Reserve… Read More

RBI releases Tri-Party Repo (Reserve Bank) Directions, 2017

RBI/2017-18/42 FMRD.DIRD.4/14.03.024/2017-18 August 10, 2017 To All market participants Dear Sir/Madam Tri-Party Repo (Reserve Bank) Directions, 2017 Please refer to Paragraph 6 of the statement on Developmental and Regulatory Policies, Reserve Bank of India issued as part of the third Bi-monthly Monetary Policy Statement for 2017-18 dated August 2, 2017 regarding introduction of tri-party repos. 2. The draft… Read More

RBI issues Reserve Bank Commercial Paper Directions ,2017

RBI/2017-18/43 FMRD.DIRD.2/14.01.002/2017-18 August 10, 2017 To All market participants Dear Sir/Madam Reserve Bank Commercial Paper Directions, 2017 Reserve Bank had issued draft directions on Commercial Paper for public comments on February 02, 2017. Taking into account the comments received, The Reserve Bank Commercial Paper Directions, 2017 have been finalised and enclosed herewith. Yours faithfully (T. Rabi Sankar)… Read More

RBI corrects circular on Marginal Standing Facility

Marginal Standing Facility (Corrected) RBI/2017-2018/31 FMOD.MAOG. No. 122/01.18.001/2017-18 August 2, 2017 All Scheduled Commercial Banks (excluding RRBs) Madam / Sir, Marginal Standing Facility As announced in the Third Bi-monthly Monetary Policy Statement, 2017-18, today, it has been decided by the Monetary Policy Committee (MPC) to reduce the Repo rate under the Liquidity Adjustment Facility (LAF) by… Read More

RBI decides not to issue LC/BG on behalf of Govt. departments

RBI/2017-18/39 DGBA.GBD.No.279/31.02.007/2017-18 August 3, 2017 All Agency Banks Dear Sir / Madam Government Banking - Issue of Letters of Credit and Bank Guarantee Please refer to Circular No. DGBA.GAD.No.H.6254/31.03.002/2011-12 dated March 28, 2012 regarding procedure relating to Letter of Credit (LC) enclosing a copy of letter dated November 30, 2011 issued by the Office of… Read More

RBI issues Statement on Developmental and Regulatory Policies

Measures to Improve Monetary Policy Transmission The experience with the Marginal Cost of Funds Based Lending Rate (MCLR) system introduced in April 2016 for improving the monetary transmission has not been entirely satisfactory, even though it has been an advance over the Base Rate system. An internal Study Group has been constituted by the Reserve… Read More

Repo rate under Marginal Standing Facility reduced to 6.25%

RBI/2017-2018/31 FMOD.MAOG. No. 122/01.18.001/2017-18 August 2, 2017 All Scheduled Commercial Banks (excluding RRBs) Scheduled UCBs & PDs Madam / Sir, Marginal Standing Facility As announced in the Third Bi-monthly Monetary Policy Statement, 2017-18, today, it has been decided by the Monetary Policy Committee (MPC) to reduce the Repo rate under the Liquidity Adjustment Facility (LAF) by… Read More

RBI reduces Repo and Reverse Repo rate under Liquidity Adjustment Facility

RBI/2017-2018/32 FMOD.MAOG. No 121/01.01.001/2017-18 August 2, 2017 All Scheduled Commercial Banks (excluding RRBs), Scheduled Urban Co-operative Banks and Standalone Primary Dealers Madam / Sir, Liquidity Adjustment Facility – Repo and Reverse Repo Rates As announced in the Third Bi-monthly Monetary Policy Statement, 2017-18, today, it has been decided by the Monetary Policy Committee (MPC) to reduce… Read More