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Press Releases
ਅਕਤੂ 15, 2012
RBI cautions Public Not to respond to Phishing Mail sent in its Name
It has come to the notice of the Reserve Bank of India that an email has been sent in its name from mail id: Reserve Bank Of India (no-reply@rbi.com) and signed by RBI, Security Team offering a 'new online security protection' called "Netsecured” to “reduce fraud and theft in various banking system…(and)… to enable all customer's online banking in all Indian Banks to get protected and Secured.” The Reserve Bank cautions members of public that it has not developed any
It has come to the notice of the Reserve Bank of India that an email has been sent in its name from mail id: Reserve Bank Of India (no-reply@rbi.com) and signed by RBI, Security Team offering a 'new online security protection' called "Netsecured” to “reduce fraud and theft in various banking system…(and)… to enable all customer's online banking in all Indian Banks to get protected and Secured.” The Reserve Bank cautions members of public that it has not developed any
ਜੂਨ 01, 2012
Foreign Exchange Department of the Reserve Bank of India, implements the Application Tracking System
The Application Tracking System (ATS) is a major e-Governance initiative of the Reserve Bank of India. Foreign Exchange Department, Central Office and its 17 Regional offices have since adopted the ATS, to facilitate the customers to apply and track the status of the applications online. Under the online Application Tracking System (ATS), customers can submit applications online and also track the status of an already filed / submitted application. The applicant would
The Application Tracking System (ATS) is a major e-Governance initiative of the Reserve Bank of India. Foreign Exchange Department, Central Office and its 17 Regional offices have since adopted the ATS, to facilitate the customers to apply and track the status of the applications online. Under the online Application Tracking System (ATS), customers can submit applications online and also track the status of an already filed / submitted application. The applicant would
ਮਈ 21, 2012
RBI warning on phishing mail
It has come to the notice of the Reserve Bank of India that an email has been sent in its name from mail id: alert@rbi.org and signed by RBI Online offering a 'new online security platform'. According to the mail, the 'new online security platform' offers to 'prevent online identity theft in internet banking by asking the customer to go through a two-way authentication factor before he/she properly logs into internet banking every time'. The email then asks the recipi
It has come to the notice of the Reserve Bank of India that an email has been sent in its name from mail id: alert@rbi.org and signed by RBI Online offering a 'new online security platform'. According to the mail, the 'new online security platform' offers to 'prevent online identity theft in internet banking by asking the customer to go through a two-way authentication factor before he/she properly logs into internet banking every time'. The email then asks the recipi
ਫ਼ਰ 06, 2012
RBI cautions Public Once Again against Fictitious Offers
The Reserve Bank of India has today reiterated that it never contacts the public via unsolicited phone calls or emails asking for money or any other type of personal information. The Reserve Bank does not maintain/give money/foreign currency or any other type of funds to individual or opens accounts for/in the name of individuals. The Reserve Bank has urged the public to remain alert and not to fall prey to frauds or scams perpetrated by individuals who impersonate to
The Reserve Bank of India has today reiterated that it never contacts the public via unsolicited phone calls or emails asking for money or any other type of personal information. The Reserve Bank does not maintain/give money/foreign currency or any other type of funds to individual or opens accounts for/in the name of individuals. The Reserve Bank has urged the public to remain alert and not to fall prey to frauds or scams perpetrated by individuals who impersonate to
ਸਤੰ 06, 2011
Banking Ombudsman Conference : Ten Action Points to improve Customer Service of Banks
1. Indian Banks’ Association (IBA) will standardise most important terms and conditions (MITC) for at least ten important banking transactions and circulate among banks for adaptation. 2. Banks would initiate the process of providing one view of all bank accounts of a customer including deposits, loans, etc., with the help of available technology, such as, core banking solution. Banks would be complete the process within one year. 3. Banks would convey to the Reserve
1. Indian Banks’ Association (IBA) will standardise most important terms and conditions (MITC) for at least ten important banking transactions and circulate among banks for adaptation. 2. Banks would initiate the process of providing one view of all bank accounts of a customer including deposits, loans, etc., with the help of available technology, such as, core banking solution. Banks would be complete the process within one year. 3. Banks would convey to the Reserve
ਜੂਨ 16, 2010
Committee on Customer Service in Banks - Inviting Suggestions from Public
The Reserve Bank of India has constituted a Committee under the chairmanship of Shri M. Damodaran, former Chairman, SEBI to interalia : Review the existing system of attending to customer service in banks - approach, attitude and fair treatment to customers from retail, small and pensioners segment. Evaluate the existing system of grievance redressal mechanism prevalent in banks, its structure and efficacy and recommend measures for expeditious resolution of complaint
The Reserve Bank of India has constituted a Committee under the chairmanship of Shri M. Damodaran, former Chairman, SEBI to interalia : Review the existing system of attending to customer service in banks - approach, attitude and fair treatment to customers from retail, small and pensioners segment. Evaluate the existing system of grievance redressal mechanism prevalent in banks, its structure and efficacy and recommend measures for expeditious resolution of complaint
ਜੂਨ 03, 2010
Applications made to RBI can now be tracked on-line
Applications made to various departments of the Reserve Bank of India (RBI) can now be tracked on-line through the Application Tracking System (ATS). The Reserve Bank launched the Application Tracking System on its website for convenience of the public. The ATS, cannot be used for tracking complaints made under the Banking Ombudsman Scheme or any other complaints. For tracking the above applications made, the applicants will have to register on the RBI website (ATS li
Applications made to various departments of the Reserve Bank of India (RBI) can now be tracked on-line through the Application Tracking System (ATS). The Reserve Bank launched the Application Tracking System on its website for convenience of the public. The ATS, cannot be used for tracking complaints made under the Banking Ombudsman Scheme or any other complaints. For tracking the above applications made, the applicants will have to register on the RBI website (ATS li
ਜੂਨ 03, 2010
Reserve Bank constitutes Committee on Customer Service in banks
The Reserve Bank of India has constituted a Committee under the chairmanship of Shri M. Damodaran, former Chairman, Securities and Exchange Board of India, to look into banking services rendered to retail and small customers, including pensioners. The Committee will also look into the system of grievance redressal mechanism prevalent in banks, its structure and efficacy and suggest measures for expeditious resolution of complaints. The other members of the committee a
The Reserve Bank of India has constituted a Committee under the chairmanship of Shri M. Damodaran, former Chairman, Securities and Exchange Board of India, to look into banking services rendered to retail and small customers, including pensioners. The Committee will also look into the system of grievance redressal mechanism prevalent in banks, its structure and efficacy and suggest measures for expeditious resolution of complaints. The other members of the committee a
ਜੁਲਾ 30, 2009
Beware of Fictitious Offers/Lottery Winnings/Cheap Fund Offers: RBI
The Reserve Bank of India has, today once again clarified that remittance in any form towards participation in lottery schemes is prohibited under the Foreign Exchange Management Act, 1999. Further, these restrictions are applicable also to remittances for participation in lottery-like schemes functioning under different names, such as, money circulation scheme or remittances for the purpose of securing prize money / awards, etc. The Reserve Bank has clarified that it
The Reserve Bank of India has, today once again clarified that remittance in any form towards participation in lottery schemes is prohibited under the Foreign Exchange Management Act, 1999. Further, these restrictions are applicable also to remittances for participation in lottery-like schemes functioning under different names, such as, money circulation scheme or remittances for the purpose of securing prize money / awards, etc. The Reserve Bank has clarified that it
ਫ਼ਰ 05, 2009
RBI amends Banking Ombudsman Scheme: includes complaints relating to Internet Banking and Non-adherence to BCSBI Code
The Reserve Bank of India has widened the scope of its Banking Ombudsman Scheme 2006, to include deficiencies arising out of internet banking. Under the amended Scheme, a customer would also be able to lodge a complaint against the bank for its non-adherence to the provisions of the fair practices code for lenders or the Code of Bank's Commitment to Customers issued by the Banking Codes and Standards Board of India (BCSBI). The BCSBI is an independent and autonomous w
The Reserve Bank of India has widened the scope of its Banking Ombudsman Scheme 2006, to include deficiencies arising out of internet banking. Under the amended Scheme, a customer would also be able to lodge a complaint against the bank for its non-adherence to the provisions of the fair practices code for lenders or the Code of Bank's Commitment to Customers issued by the Banking Codes and Standards Board of India (BCSBI). The BCSBI is an independent and autonomous w
ਦਸੰ 07, 2007
RBI cautions Public against Fictitious Offers of Remitting Cheap Funds from Abroad
The Reserve Bank of India has advised members of public not to fall prey to fictitious offers for release of cheap funds claimed to have been remitted by overseas entities to banks in India / Reserve Bank of India. Members of public should also not make any remittance towards participation in such schemes/offers from unknown entities. Describing the typical modality of such offers, the Reserve Bank of India stated that certain foreign entities / individuals, including
The Reserve Bank of India has advised members of public not to fall prey to fictitious offers for release of cheap funds claimed to have been remitted by overseas entities to banks in India / Reserve Bank of India. Members of public should also not make any remittance towards participation in such schemes/offers from unknown entities. Describing the typical modality of such offers, the Reserve Bank of India stated that certain foreign entities / individuals, including
ਅਕਤੂ 18, 2007
RBI Sets Up Committee on Customer Services
The Reserve Bank of India has set up a Committee on Customer Services with effect from September 24, 2007 to look into customer services provided by Reserve Bank of India directly or through banks / institutions with a view to maximize satisfaction to the general public. The Committee is headed by Shri H. Prabhakar Rao, former Controller General of Accounts, Government of India and includes Smt. Vani J. Sharma, former Regional Director, Reserve Bank of India and Shri
The Reserve Bank of India has set up a Committee on Customer Services with effect from September 24, 2007 to look into customer services provided by Reserve Bank of India directly or through banks / institutions with a view to maximize satisfaction to the general public. The Committee is headed by Shri H. Prabhakar Rao, former Controller General of Accounts, Government of India and includes Smt. Vani J. Sharma, former Regional Director, Reserve Bank of India and Shri
ਸਤੰ 25, 2007
Business As Usual in RBI on September 29, 2007
All the departments of the Reserve Bank of India in Mumbai and Navi Mumbai which normally function on Saturdays will conduct business as usual on Saturday, September 29, 2007. Ajit Prasad Manager Press Release :2007-2008/416
All the departments of the Reserve Bank of India in Mumbai and Navi Mumbai which normally function on Saturdays will conduct business as usual on Saturday, September 29, 2007. Ajit Prasad Manager Press Release :2007-2008/416
ਜੂਨ 18, 2007
RBI launches Multi-lingual Site for the Common Person
The Reserve Bank of India today launched a multi-lingual site for the common person. The multi-lingual site gives to the common person the information that they can use in 13 languages. The site includes recent instructions of the Reserve Bank relating to customer service, Frequently Asked Questions, lending rates of banks, Banking Ombudsman Scheme, Right to Information Act and links to commercial banks' websites. There is also a section on the role and functions of t
The Reserve Bank of India today launched a multi-lingual site for the common person. The multi-lingual site gives to the common person the information that they can use in 13 languages. The site includes recent instructions of the Reserve Bank relating to customer service, Frequently Asked Questions, lending rates of banks, Banking Ombudsman Scheme, Right to Information Act and links to commercial banks' websites. There is also a section on the role and functions of t
ਮਈ 24, 2007
Customers can now appeal against the Banking Ombudsman's Decision
Bank customers can now appeal against the decision of the Banking Ombudsman where he has rejected the customer's complaint relating to matters falling within the grounds of complaints specified under the scheme. The Reserve Bank of India has amended the Banking Ombudsman Scheme, 2006 to enable the customers to appeal against the Banking Ombudsman's decision. The amendments are available on the RBI website. Before the scheme was amended, the bank customers could appeal
Bank customers can now appeal against the decision of the Banking Ombudsman where he has rejected the customer's complaint relating to matters falling within the grounds of complaints specified under the scheme. The Reserve Bank of India has amended the Banking Ombudsman Scheme, 2006 to enable the customers to appeal against the Banking Ombudsman's decision. The amendments are available on the RBI website. Before the scheme was amended, the bank customers could appeal
ਸਤੰ 26, 2006
Business As Usual in RBI on September 30, 2006
All the departments of the Reserve Bank of India in Mumbai and Navi Mumbai which normally function on Saturdays will conduct business as usual on Saturday, September 30, 2006. P.V.Sadanandan Manager Press Release : 2006-2007/431
All the departments of the Reserve Bank of India in Mumbai and Navi Mumbai which normally function on Saturdays will conduct business as usual on Saturday, September 30, 2006. P.V.Sadanandan Manager Press Release : 2006-2007/431
ਮਈ 18, 2006
RBI constitutes Working Group to formulate a scheme for ensuring reasonableness of the bank charges
The Reserve Bank of India today constituted a Working Group to formulate a scheme for ensuring reasonableness of bank charges and to incorporate them in the Fair Practices Code. The compliance of Fair Practices Code would be monitored by the Banking Codes and Standards Board of India. The members of the Working Group will be: 1. Shri N. Sadasivan, Banking Ombudsman, Mumbai – Chairman 2. Shri S. Diwakara, All India Depositors' Association 3. Shri H.N. Sinor, Chief Exec
The Reserve Bank of India today constituted a Working Group to formulate a scheme for ensuring reasonableness of bank charges and to incorporate them in the Fair Practices Code. The compliance of Fair Practices Code would be monitored by the Banking Codes and Standards Board of India. The members of the Working Group will be: 1. Shri N. Sadasivan, Banking Ombudsman, Mumbai – Chairman 2. Shri S. Diwakara, All India Depositors' Association 3. Shri H.N. Sinor, Chief Exec
ਦਸੰ 26, 2005
RBI expands Scope of Banking Ombudsman Scheme; Includes Fair Banking Practices
The Reserve Bank of India today announced the revised Banking Ombudsman Scheme with enlarged scope to include customer complaints on certain new areas, such as, credit card complaints, deficiencies in providing the promised services even by banks' sales agents, levying service charges without prior notice to the customer and non adherence to the fair practices code as adopted by individual banks. Applicable to all commercial banks, regional rural banks and scheduled p
The Reserve Bank of India today announced the revised Banking Ombudsman Scheme with enlarged scope to include customer complaints on certain new areas, such as, credit card complaints, deficiencies in providing the promised services even by banks' sales agents, levying service charges without prior notice to the customer and non adherence to the fair practices code as adopted by individual banks. Applicable to all commercial banks, regional rural banks and scheduled p
ਜੂਨ 30, 2005
Reserve Bank proposes changes in Banking Ombudsman Scheme to include customer complaints relating to credit cards
The Reserve Bank has today released a draft Banking Ombudsman Scheme 2002 (as amended upto June 2005) for public comments. The Reserve Bank has proposed to amend the Banking Ombudsman Scheme to widen its scope to reflect the present needs of the bank customers. With this in view, it has proposed to cover under the Banking Ombudsman Scheme the customer complaints relating to banks' credit card operations even when they are offered by their subsidiaries. The proposed am
The Reserve Bank has today released a draft Banking Ombudsman Scheme 2002 (as amended upto June 2005) for public comments. The Reserve Bank has proposed to amend the Banking Ombudsman Scheme to widen its scope to reflect the present needs of the bank customers. With this in view, it has proposed to cover under the Banking Ombudsman Scheme the customer complaints relating to banks' credit card operations even when they are offered by their subsidiaries. The proposed am
ਜਨ 06, 2005
Donations to PMNRF can be online free of charge
The Reserve Bank of India today placed in its public domain the names, account numbers and MICR codes of branches, which are authorised to collect funds for the Prime Minister’s National Relief Fund (PMNRF), to enable people to contribute to this fund through electronic fund transfer (EFT) or special electronic fund transfer (SEFT). The Reserve Bank had earlier asked banks offering online remittance services to offer this facility free of charge for remitting donation
The Reserve Bank of India today placed in its public domain the names, account numbers and MICR codes of branches, which are authorised to collect funds for the Prime Minister’s National Relief Fund (PMNRF), to enable people to contribute to this fund through electronic fund transfer (EFT) or special electronic fund transfer (SEFT). The Reserve Bank had earlier asked banks offering online remittance services to offer this facility free of charge for remitting donation
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