Banking

Rate of interest on various small savings schemes for the financial year 2015-16

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RBI/2014-15/536IDMD(DGBA).CDD.No.4521/15.02.001/2014-15 April 01, 2015 The Chairman and Managing Director/Managing DirectorHead Office, Government Accounts DepartmentState Bank of India/State Bank of Patiala/State Bank of Bikaner & Jaipur/State Bank of Travancore/ State Bank of Hyderabad/State Bank of Mysore/ Andhra Bank/ Allahabad Bank/Bank of Baroda/Bank of India/Punjab & Sind Bank/Bank of Maharashtra/Canara Bank/Central Bank of India/Corporation Bank/Dena Bank/Indian Bank/Indian Overseas Bank/Punjab … Read more

Know Your Customer (KYC) Guidelines for Proprietary Concern

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RBI/2014-15/532DCBR.BPD(PCB/RCB)Cir.No.24/14.01.062/2014-15 April 1, 2015 The Chief Executive OfficerAll Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (StCBs / CCBs) Madam / Dear Sir, Know Your Customer (KYC) Guidelines – Accounts of Proprietary Concerns Please refer to paragraph 2.5(ii) of our Master Circular no. UBD.BPD.(PCB) MC.No.16/12.05.001/2014-15 dated July 1, 2014 and paragraph 2.5 (vi) of Master Circular RPCD. … Read more

All the branches of ING Vysya Bank Ltd. will function as branches of Kotak Mahindra Bank Ltd. with effect from April 1, 2015

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RBI approves ING Vysya Bank Ltd.- Kotak Mahindra Bank Ltd. Amalgamation  April 01, 2015 The Reserve Bank of India has sanctioned the Scheme of Amalgamation of ING Vysya Bank Ltd. with Kotak Mahindra Bank Ltd. The Scheme has been sanctioned in exercise of the powers contained in Sub-section (4) of Section 44A of the Banking … Read more

Pioneer Urban Co-operative Bank Ltd., Lucknow placed under Directions of RBI for a period of six months

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March 26, 2015 Pioneer Urban Co-operative Bank Ltd., Lucknow placed under Directions The Reserve Bank of India has, after satisfying itself that it is necessary in public interest to do so, issued certain directions to Pioneer Urban Co-operative Bank Ltd., Lucknow. The instructions will remain in force for a period of six months, subject to … Read more

RBI has imposed a monetary penalty of Rs 5.00 lakh each on 16 Central Co-operative Banks

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The Reserve Bank of India has imposed a monetary penalty of Rs 5.00 lakh (Rupees five lakh only) each on 16 Central Co-operative Banks listed below. Penalties have been imposed in exercise of powers vested in it under the provisions of Section 47(A) read with Section 46 of the Banking Regulation Act, 1949 (As applicable to … Read more

RTGS, NEFT and government business counters of banks will remain operational on 30th and 31st March 2015

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Annual Closing of Government Accounts — Transactions of Central / State Governments — Special Measures for the Current Financial Year (2014-15) With a view to providing greater convenience to tax payers, it has been decided that all designated branches of agency banks and Reserve Bank Offices conducting government business will keep their counters open for … Read more

Special Clearing operations on March 30 and 31, 2015

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RBI/2014-15/517 DPSS.CO.CHD.No./1776/03.01.02/2014-2015 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including Regional Rural Banks/ Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear Sir, Special Clearing operations on March 30 and 31, 2015   A reference is invited to the circular issued … Read more

PM will launch MUDRA Bank on 8th April, 2015 in New Delhi

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New Delhi, March 25, 2015 Chaitra 4, 1937 Prime Minister of India Shri Narendra Modi will launch MUDRA (Micro Units Development and Refinance Agency) Bank on 8th April, 2015 at 9.15 AM at Vigyan Bhawan, New Delhi in the presence of Hon’ble Finance Minister Shri Arun Jaitley. The Union Finance Minister in his Budget Speech … Read more

Dowload application form for Sukanya Samriddhi Account

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RBI/2014-15/494IDMD(DGBA).CDD.No.4052/15.02.006/2014-15 March 11, 2015 The Chairman and Managing Director/Managing DirectorHead Office, Government Accounts DepartmentState Bank of India/State Bank of Patiala/State Bank of Bikaner & Jaipur/State Bank of Travancore/ State Bank of Hyderabad/State Bank of Mysore/Andhra Bank/ Allahabad Bank/Bank of Baroda/Bank of India/Punjab & Sind Bank/Bank of Maharashtra/Canara Bank/Central Bank of India/ Corporation Bank/Dena Bank/Indian Bank/Indian Overseas Bank/ … Read more