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RBI Archives - Page 2 of 3 - All About Finance

Date of exchange of currency notes prior to 2005 extended up to 30th June 2015 – RBI press releases

Soliciting cooperation from the public in withdrawing these notes from circulation, the Reserve Bank of India has urged them to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them. The Reserve Bank of India has stated that the public can do so till June 30, … Read more

Classification of non-cooperative borrowers – RBI Circular

RBI/2014-15/362DBR.No.CID.BC.54/20.16.064/2014-15 December 22, 2014 All Scheduled Commercial Banks(Excluding RRBs)All-India Term-Lending and Refinancing Institutions(Exim Bank, NABARD, NHB and SIDBI) Dear Sir / Madam Non-Cooperative Borrowers Please refer to our circular DBOD.BP.BC.No.97/21.04.132/2013-14 dated February 26, 2014 on ‘Framework for Revitalising Distressed Assets in the Economy – Guidelines on Joint Lenders’ Forum (JLF) and Corrective Action Plan (CAP)’ which inter-alia, … Read more

RBI imposes monetary penalty on ICICI Bank and Bank of Baroda for violating KYC/AML Instructions

The Reserve Bank of India has imposed monetary penalty on the following two banks for violation of its instructions, among other things, on know your customer/anti money laundering Know Your Customer(KYC)/Anti Money Laundering (AML). The details of the penalty are: Sl. No. Name of the bank Penalty Amount (in Rs.) 1 ICICI Bank Ltd. 5.00 … Read more

Underwriting Auctions for Government Securities for Rs. 14,000 crore on December 19, 2014

The Government of India have announced the sale (re-issue) of the Government Stock through auctions to be held on December 19, 2014. As per revised scheme of underwriting, dated November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auctions, per Primary … Read more

RBI extended the RTGS hours from 8:00 am to 8:00 pm, effective from 29th December 2014

RBI/2014–15/352DPSS (CO) RTGS No. 1064 / 04.04.002 / 2014-15 December 15, 2014 The Chairman / Managing Director / ChiefExecutive Officer of participants of RTGS Madam / Sir, Extension of RTGS time window It has been the endeavour of the Reserve Bank of India to keep enhancing the systems, procedures, etc. to meet the growing needs … Read more

Government of India has offered to sell (re-issue) four dated securities for notified amount of Rs.14,000 crore

RBI/2014–15/353Ref.No.IDMD/1260/08.02.032/2014-15 December 15, 2014 All Scheduled Commercial BanksAll State Co-operative Banks/All Scheduled Primary(Urban) Co-operative Banks /All Financial Institutions/All Primary Dealers. Dear Sir/Madam, Auction of Government of India Dated Securities Government of India has offered to sell (re-issue) four dated securities for notified amount of ` 14,000 crore as per the following details: Sr No Security Notified Amount(in ` crore) … Read more

Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1267(1999) / 1989(2011) Committee’s Al Qaida Sanctions List – RBI Circular

RBI/2014–15/355DBR.AML.No.8888/14.06.001/2014-15 December 15, 2014 The Chairpersons / CEOs of all Scheduled Commercial Banks, Regional Rural Banks /Local Area Banks / All India Financial Institutions Madam/Dear Sir, Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1267(1999) / 1989(2011) Committee’s Al Qaida Sanctions List Please refer to our circular DBR.AML No.7820/14.06.001/2014-15 dated November 26, 2014 on … Read more

Flexible Structuring of Existing Long Term Project Loans to Infrastructure and Core Industries – RBI Circular

RBI/2014-15/354DBR.No.BP.BC.53/21.04.132/2014-15 December 15, 2014 The Chairman and Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks(Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Flexible Structuring of Existing Long Term Project Loans toInfrastructure and Core Industries Please refer to our circular DBOD.No.BP.BC.24/21.04.132/2014-15 dated July 15, 2014 on Flexible Structuring of Long Term Project Loans to Infrastructure and Core … Read more

RBI imposes penalty of Rupees One lakh on CRIF High Mark Credit Information Services Private Limited

The Reserve Bank of India has imposed a monetary penalty of Rs.1 lakh (Rupees One lakh) on CRIF High Mark Credit Information Services Private Limited; a Credit Information Company (CIC), for violation of Sections 9(1) and 9(2) of the CICRA as it did not have a whole time Managing Director/Director to manage the whole of … Read more

RBI Introduced “Jeevan Pramaan”, a Digital Life Certificate for Pensioners

RBI/2014-15/343DGBA.GAD.H- 2529/45.01.001/2014-15 December 9, 2014 The Chairman/Chief Executive OfficerAll agency banks Dear Sir Introduction of Digital Life Certificates for Pensioners As per the present scheme for payment of government pension, pensioners are required to furnish a life certificate in November every year to the bank concerned for continued receipt of pension without interruption. Even though … Read more