Regulating Commercial Banking

RBI/2013-14/342 DBOD.AML.BC.No.63/14.01.001/2013-14 October 29, 2013 The Chairmen / Chief Executive Officers of All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir, Due diligence in correspondent banking relationship. Please refer to paragraph 2.16 of our Master Circular DBOD. AML.BC.24/14.01.001/2012-13 dated July 1, 2013 on ‘Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) / Obliga

RBI/2013-14/334 DBOD.NO.PSBD.BC.62/16.13.100/ 2013-14 October 23, 2013 All Private Sector Banks Dear Sir, Amendments to Banking Regulation Act 1949 -- Banking Laws (Amendment) Act 2012 - Applicability to private sector banks As you are aware, the Government of India, Ministry of Finance, notified the Banking Law Amendments Act, 2012, vide Gazette Notification dated January 17, 2013, (published in Part II- Section 3--sub-section (ii) of the Gazette of India No.177 date

RBI/2013-14/331 DBOD.No.Leg.BC. 61/09.07.005/2013-14 October 21, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Settlement of Claims in respect of Missing Persons in Uttarakhand Disaster In the aftermath of Uttarakhand Natural Disaster during June 14-20, 2013 the Office of the Registrar General of India, Ministry of Home Affairs, Government of India has devised a procedure for Registration of Death of Missing persons in Natural Calamities affecte

RBI/2013-14/330 DBOD.No.BAPD.BC. 60/22.01.001/2013-14 October 21, 2013 All Domestic Scheduled Commercial Banks (excluding RRBs) Madam / Dear Sir Section 23 of the Banking Regulation Act, 1949 – Relaxations in Branch Authorisation Policy Please refer to circular DBOD.No.BAPD.BC.54/22.01.001/2013-14 dated September 19, 2013, on the above subject, advising that domestic scheduled commercial banks (other than RRBs) are permitted to open branches in Tier 1 to Tier 6 centre

RBI/2013-14/326 DBOD.BP.BC.No.59/21.06.007/2013-14 October 17, 2013 The Chairman and Managing Director/The Chief Executive Officer All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Change of Name of SME Rating Agency of India Limited to SMERA Ratings Limited (SMERA) Please refer to the Master Circular No. DBOD.No.BP.BC.9/21.06.001/2012-13 dated July 1, 2013 on 'Prudential Guidelines on Capital Adequacy and Market Discipline

RBI/2013-14/315 Ref:DBOD.No.Ret.BC. 58/12.01.001/2013-14 October 07, 2013 All Scheduled Commercial Banks & Local Area Banks Dear Sir, Bank Rate As announced in the Press Release 2013-2014/728 dated October 07, 2013, the Bank Rate stands adjusted by 50 basis points from 9.5 per cent to 9.0 per cent with effect from October 07, 2013. 2. All penal interest rates on shortfall in reserve requirements, which are specifically linked to the Bank Rate, also stand revised a

RBI/2013-14/295 DBOD. AML.No.5719/14.06.001/2013-14 September 26, 2013 The Chairmen / CEOs of all Scheduled Commercial Banks (Excluding RRBs)/ Local Area Banks / All India Financial Institutions Dear Sir, Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1267(1999) / 1989(2011) Committee's Al Qaida Sanctions List Please refer to our circular DBOD. AML No. 3817/14.06.001/2013-14 dated September 10, 2013 on the captioned subject releasing 22nd update. W

RBI/2013-14/291 DBOD.Dir.BC.No. 57 /04.02.001/2013-14 September 25, 2013 All Scheduled Commercial Banks and Exim Bank (excluding RRBs) Dear Sir/ Madam, Export Credit in Foreign Currency Banks extend export credit in Indian Rupees as well as in foreign currency, such as Pre Shipment Credit in Foreign Currency (PCFC) and Post Shipment Credit in Foreign Currency (PSCFC), as per their own internal lending policies within the overall regulatory framework prescribed by the

RBI/2013-14/282 Ref:DBOD.No.Ret.BC. 56 /12.01.001/2013-14 September 20, 2013 All Scheduled Commercial Banks & Local Area Banks Dear Sir, Bank Rate Please refer to our Circular DBOD.No.Ret.BC.31/12.01.001/2013-14 dated July 15, 2013 on the captioned subject. As announced in the Press Release 2013-2014/604 dated September 20, 2013, the Bank Rate stands adjusted by 75 basis points from 10.25 per cent to 9.50 per cent with effect from September 20, 2013. 2. All penal

RBI/2013-14/280 DBOD. AML.No.4814/14.08.001/2013-14 September 20, 2013 The Chairmen / Chief Executive Officers All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Foreign Contribution (Regulation) Rule, 2011- Online Reporting of Receipt of Foreign Contribution by banks Under Rule 16 of the Foreign Contribution (Regulation) Rule, 2011, banks have to report to Central Government any transaction in respect of receipt of foreign contribution. Ministry of Home