Regulating Co-operative Banking

RBI/2011-12/582 UBD.BPD (PCB) Cir.No.35/14.01.062/2011-12 May 30, 2012 The Chief Executive Officer of All Primary (Urban) Co-operative Banks Madam/Dear Sir, Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1988 (2011) Sanctions List – Primary (Urban) Co-operative Banks Please refer to our circular UBD.CO.BPD (PCB) Cir. No.20/14.01.062/2011-12 dated March 01, 2012. We have since received from Government of India, Ministry of External Affairs, UNP Divi

RBI/2011-12/567 UBD.BPD. (PCB) CIR No.33/09.09.001/2011-12 May 18, 2012 The Chief Executive Officers All Primary (Urban) Co-operative Banks Madam / Dear Sir, Priority Sector Lending – Indirect Finance to Housing Sector Please refer to our Circular UBD.PCB.Cir.No.11/09.09.01/2007-08 dated August 30, 2007 forwarding the guidelines for UCBs on lending to priority sector. In terms of para 7.4 of section I of Annex of the above Circular, assistance given to a non-governmen

RBI/2011-12/565 UBD.BPD.AD.CIR.No.7/13.01.000/2011-12 May 17, 2012 The Chief Executive Officers All AD Cateogry -1 UCBs Dear Sir/Madam, Interest Rates on FCNR(B) Deposits Please refer to our circular No. UBD.BPD.AD.CIR.No. 4/13.01.000/2011-12 dated November 24, 2011 on Interest Rates on Deposits held in FCNR(B) Accounts. In view of the prevailing market conditions, it has been decided that until further notice and with effect from the close of business in India as on

RBI/2011-12/552 UBD. CO. BPD. (PCB). No. 34/12.05.001/2011-12 May 11 , 2012 The Chief Executive Officers of All Primary (Urban) Co-operative Banks Dear Sir, Know Your Customer (KYC) guidelines – Accounts of Proprietary Concerns Please refer to our circulars UBD. BPD. CO. / NSB I /11/12.03.000/2009-10 dated September 29, 2009 and UBD. BPD. CO. NSB I /38 / 12.03.000/ 2009-10 dated December 23, 2009 regarding the procedure for customer identification while opening accoun

RBI/2011-12/476 UBD.BPD.(PCB). Cir.No. 29/13.05.000/ 2011-12 March 30, 2012 The Chief Executive Officers of All Primary (Urban) Co-operative Banks Madam / Dear Sir, Discounting of Bills by UCBs – Restricted Letters of Credit (LC) Please refer to our Circular UBD.No.BPD.PCB.Cir.37/13.05.00/2003-2004 dated March 16, 2004 wherein UCBs were advised, inter alia, that they should purchase / discount / negotiate bills under LCs only for their borrower constituents who have b

RBI/2011-12/435 UBD.BPD. (SCB). Cir.No.3/12.03.000/ 2011-12 March 9, 2012 The Chief Executive Officers of All Scheduled Primary (Urban) Co-operative Banks Madam / Dear Sir, Section 42(1) of the Reserve Bank of India Act, 1934 - Maintenance of CRR Please refer to our Circular UBD (PCB).CIR.No.2/12.03.000/2011-12 dated January 25, 2012 on the captioned subject. 2.@@NBSP@@ On review of the current and evolving liquidity conditions as set out in the Reserve Bank's Press R

RBI/2011-12/432 UBD.BPD. (PCB).Cir. No. 26 /16.11.00/2011-12 March 7, 2012 The Chief Executive Officer, All Primary (Urban) Co-operative Banks. Madam/Dear Sir, Bank Rate Section 49 of the Reserve Bank of India Act, 1934 requires the Reserve Bank to make public (from time to time) the standard rate at which it is prepared to buy or re-discount bills of exchange or other commercial paper eligible for purchase under that Act. 2. Being the discount rate, the Bank Rate sho

RBI/2011-12/431 UBD.CO.BPD. No. 25/12.05.001/ 2011-12 March@@NBSP@@6, 2012 Chief Executive Officers of All Primary (Urban) Co-operative Banks Dear Sir / Madam, Convergence of Indian Accounting Standards with International Financial Reporting Standards – Urban Co-operative Banks The Core Group constituted by the Ministry of Corporate Affairs, Government of India had approved in March 2010, a road map for convergence of Indian Accounting Standards (IAS) with Internation

RBI/2011-12/419 UBD.CO.BPD (PCB) Cir. No. 21/14.01.062/2011-12 March 1, 2012 The Chief Executive Officer of All Primary (Urban) Co-operative Banks Madam/Dear Sir, Implementation of Section 51-A of UAPA, 1967 - Updates of the UNSCR 1267 (1999) and 1989 (2011) Committee's Al Qaida Sanctions List Please refer to our circular UBD.CO.BPD (PCB) Cir. No.20/14.01.062/2011-12 dated March 1, 2012. We have since received from Government of India, Ministry of External Affairs, UN

RBI/2011-12/420 UBD.BPD. (PCB). Cir.No. 22/12.05.001/2011-12 March 1, 2012 The Chief Executive Officer, All Primary (Urban) Co-operative Banks. Madam / Dear Sir, Supervisory Action Framework for Urban Cooperative Banks (UCBs) You are aware, that the Reserve Bank of India (the Bank) conducts inspection of UCBs under the provisions of the Banking Regulation Act, 1949 (AACS) (the Act), to assess the financial position of a bank and its adherence to the various provisions