Others Notification & Circulars
No Objection to Banks to Use BF & BC
No Objection to Banks to Use BF & BC RBI/2007-2008/295DBOD.No.BL.BC.74 /22.01.009/2007-2008 Please refer to our circulars DBOD. No.BL.BC.58/22.01.001/2005-2006 dated January 25, 2006 and DBOD.No.BL.BC.72/22.01.009/2005-2006 dated March 22, 2006 on the above sub..
No Fear He is only Recovery Agents
Specific Considerations Recovery Agents engaged by Banks RBI/2007-2008/296DBOD.No.Leg.BC.75 /09.07.005/2007-08 Please refer to the paragraph 172 and 173 of the mid-term review of the Annual Policy for the year 2007-08, a copy of which is enclosed. In view of the rise in th..
Non-Resident Ordinary Rupee Account
Non-Resident Ordinary Rupee (NRO) Account Master Circular No. 03 /2007- 08 , The acceptance of deposits by an authorised dealer / authorised bank from persons resident outside India are regulated by the provisions of subsections (1) and (2) of section 6 of the Foreign Exc..
Miscellaneous Remittances Facilities for Residents
Miscellaneous Remittances Facilities for Residents Master Circular No. 05 /2007-08 Miscellaneous remittance facilities for residents are allowed in terms of section 5 of the Foreign Exchange Management Act, 1999, read with Government of India Notification No. G.S.R 381(E) dated May 3, 2000, ..
Remittance Facilities for NRIs /PIO/Foreign Nationals
Remittance Facilities for Non-Resident Indians / Persons of Indian Origin / Foreign Nationals Master Circular No. 04 /2007- 08 Remittance facilities for Non-Residents/Persons of Indian Origin/Foreign Nationals are being governed by sub-section (1) and (2) o..
No Charge for Balance Enquiry through ATM
No Charge for Balance Enquiry through ATM Reserve Bank of India has announced a good news for all the users of ATM. Automated Teller Machines (ATMs) have gained prominence as a delivery channel for banking transactions in India. Banks have been deployi..
Adopt electronic Medium for Bulk Payments to ensure Safety
Adopt electronic Medium for Bulk Payments to ensure Safety Recognising the importance of ensuring the safety and security of the payment systems, Reserve Bank of India (RBI) has put in place three modes of electronic payments, namely:- ..
New approach towards monitoring of frauds in NBFCs
RBI-2007-2008/257 DNBS.PD.CC. No.112 /03.10.42/2007-08 With Referance to Circular No. 106 dated September 04, 2007 on the captioned subject which has now been revised as under: Para 2.2- Cases of 'negligence and cash shortages' and 'irregularities in foreign exchange transactions' referred t..
Revised Norms of UCBs for Regulatory Purposes
Revised Norms of UCBs for Regulatory Purposes Cir.No.35 /09.20.001/07-08 Banks are being categorized for regulatory purposes as under: (a) Tier I Banks: Unit banks i.e. banks having a single branch / HO with deposits up to Rs. 100 crore and banks having multiple branches within a single dis..
NOTIFICATION NO. S.O. 44(E),
Section 17 of the Foreign Exchange Management Act, 1999 - Appeal to Special Director (Appeals) – Notified Special Directors NOTIFICATION NO. S.O. 44(E), DATED 8-1-2008 In exercise of the powers conferred by sub-section (1) of section 17 of the Foreign Exchange Management Act, 1999 (42 of..
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