Consumer Education and Protection

Ref. DBOD.BC.Leg. No.113 / 09.12.001/ 2002-03 June 26, 2003All Scheduled Commercial Banks(Excluding RRBs and LABs)Dear Sir,Dishonour of cheques – Procedure thereofAs you are aware, in January 1992, banks were advised to implement the recommendation of the Goiporia Committee that dishonoured instruments are returned / despatched to the customer promptly without delay, in any case within 24 hours (Ref.No.3.36 – our circular DBOD.No.BC.74/09.07.001/91-92 dated 28th Janua

DBOD. Leg. No.BC. 104 /09.07.007/2002-03 May 5, 2003All Scheduled Commercial Banks / All India Financial Institutions(Excluding RRBs and LABs)Dear Sir,Guidelines on Fair Practices Code for LendersOn the basis of the recommendations of the Working Group on Lenders’ Liability Laws constituted by the Government of India, we have examined, in consultation with Government, select banks and financial institutions, the feasibility of introducing the Fair Practices Code for L

Ref No. DBOD. Dir. BC. 53/13.10.00/2002-03December 26, 2002All Commercial Banks (excluding RRBs and LABs)Dear Sir,Minimum balance in savings bank accountsReserve Bank of India has not issued any guidelines regarding the minimum balance to be maintained in savings bank accounts. The banks have been prescribing the minimum balance to be maintained taking into consideration the cost involved in maintaining and servicing such accounts and also levying specific charges, if

December 14, 2002Ref No. DBOD. Dir. BC. 51/13.03.00/2002-03All Commercial Banks(excluding RRBs and LABs)Dear Sir,Opening of saving bank accounts inthe name of certain bodies / organizationsPlease refer to paragraph 2 of our Circular DBOD No. Dir. BC. 35/13.03.00/2000-01 dated October 17, 2000, permitting banks to open savings bank accounts in the name of Government departments/bodies/agencies in respect of grants/ subsidies released for implementation of various progr

Reserve Bank of IndiaExchange Control DepartmentCentral OfficeMumbai 400 001A.P.(DIR Series) Circular No.51A.P. (FL/RL Series) Circular No.2 November 18 , 2002ToAll Authorised Persons in Foreign Exchange Madam/Sirs,Increase in release of foreign exchange for private visits abroad In terms of Item No.2 of Schedule III to the Government of India's Notification No.G.S.R.381(E) dated May 3, 2000, Authorised Persons (APs) are required to obtain prior permission of the Rese

DBOD.No.BP.BC. 40 /21.05.004/2002-03November 6, 2002 All Scheduled Commercial Banks(excluding RRBs and LABs)Dear Sir,Special One-Time Settlement (OTS) Scheme for Small and Marginal farmers Please refer to our circular DBOD.No. BP.BC. 80/21.04.117/2001-02 dated March 22, 2002 setting out guidelines for special One Time Settlement Scheme for loans up to Rs.50, 000 to small and marginal farmers by public sector banks. In terms of paragraph 2(i) (d) thereof, the guideline

Reserve Bank of IndiaCentral OfficeDepartment of Banking Operations and DevelopmentCentre - 1, World Trade CentreCuffe Parade, Colaba, Mumbai - 400 005Ref.DBOD.No.Leg.BC. 21 / 09.07.007 / 2002-03August 23, 2002.All scheduled commercial banks (excluding RRBs and LABs)Dear Sir,Customer Service - Immediate credit for outstation and local cheques - enhancement of ceilingPlease refer to our circular DBOD No.BC.181 / 09.07.007 / 99-2000 dated May 29, 2000 advising banks to

DBOD.AML.BC.18/14.01.001/2002-03August 16, 2002ToThe Chief Executives ofAll Commercial banks.Dear Sir,Guidelines on "Know Your Customer" norms and "Cash transactions"As part of ‘Know Your Customer’ (KYC) principle, RBI has issued several guidelines relating to identification of depositors and advised the banks to put in place systems and procedures to help control financial frauds, identify money laundering and suspicious activities, and for scrutiny/monitoring of lar

UBD.CO.POT.PCB.Cir./ 02 /09.11.00/2002-0318 July 2002 27 Aashadha 1924(S)The Chief Executive Officers ofAll Primary Urban Co-operative BanksDear Sir/Madam, Updating Passbooks of customers maintainingSavings Bank/Current Accounts---------------------------------------------------------------It has been brought to the notice of the Reserve Bank that in some of the banks where the entries in the Passbooks are made through computers while updating Passbooks, the entries d

Ref.No. CO. DT.13.01.272/ @@NBSP@@ @@NBSP@@ @@NBSP@@ /2002-03July 17, 2002The RDs, All Regional OfficesState Bank of India & Associates, 18 Nationalised Banks,4 Private Sector Banks and SCHILDear Sir,Transferability of Relief Bonds of earlier seriesWe advise that the secondary market purchases of bonds of earlier series, issued prior to March 1, 2002 and not matured, are not to be treated as fresh investments and included in the per investor annual limit of Rs. 2