Delay in Utilization of Advance Received for Exports — Circular — Dated 9–2‑2015 — FEMA RBI/2014–15/461 A. P. (DIR Series) Circular No. 74 February 09, 2015 To All Category‑I Authorised Dealer Banks Madam / Sir, Delay in Utilization of Advance Received for Exports Attention of…
Category: RBI
Display all information about credit cost to borrowers by Banks: RBI
RBI directs via notification No: RBI/2014–15/422 dated 22nd January, 2015 Banks to disclose following Information’s in their website as well as in a key statement/fact sheet to all individual borrower from April 2015. In order to further enhance transparency in pricing…
Bank Account cannot be classified as Inoperative if Dividend been credited to such account
RBI had clarified vide circular RBI /2014–15/200 DBOD.No. Leg. BC. 36/09.07.005/2014–15 dated September 1, 2014 that Bank Account cannot be classified as Inoperative if Dividend of his/ her shares been credited to such account Please refer to paragraph 2(iv) of…
RBI rate cut: Loan, deposit rates set to fall
Your wait for lower equated monthly instalments, or EMIs, is finally over. Banks are willing to pare their lending rates in the next few days, following the Reserve Bank of India (RBI)’s decision to cut its repo rate (at which it lends to them) by 25…
RBI asks bank auditors to have a stringent monitoring process
Pointing to the gaps in the auditors’ work, the Reserve Bank of India (RBI) has asked banks to adopt a more stringent auditing process to ensure that review of financial results and identification of fraud is done more promptly. RBI Deputy Governor S S Mundra said there…
Withdrawal date of Currency Notes Issued prior to 2005 has been extended
On a review of the matter, it has been decided to extend the date for exchanging the pre-2005 banknotes to June 30, 2015. These instructions have been included in a Press Release dated December 23, 2014. You are advised to facilitate…
Reporting Format for Representative Offices of Foreign Banks in India has been Revised
Representative Offices of foreign banks in India are currently required to submit information/documents on an annual basis to Reserve Bank of India as under: i) a certificate from the auditor to the effect that during the year no income was earned…
Implementation of CTS — Dispensation of the requirement of forwarding of government cheques in physical form to government
RBI had issued circular on September 2014 for Implementation of CTS — Dispensation of the requirement of forwarding of government cheques in physical form to government vide circular no: DGBA.GAD.No.H ‑1204/42.01.035/2014 ‑15 dated September 18, 2014. It is to be…
Extension of RTGS Time Window: RTGS Window will open from 8.00 am to 08.00 pm from December 29, 2014
It has been the endeavor of the Reserve Bank of India to keep enhancing the systems, procedures, etc. to meet the growing needs of the markets/ customers. The launch of the new RTGS system in October 2013 was one of…
Flexible Structuring of Existing Long Term Project Loans to Infrastructure and Core Industries
As per the 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 Industries. In terms of paragraph 9 of the said circular, flexible structuring of project loans with the option of periodic refinancing…