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Notifications
ਨਵੰ 03, 2003
Mid - term Review of Monetary and Credit Policy for the year 2003-04
Statement by Dr. Y. Venugopal Reddy, Governor,Reserve Bank of India on Mid-term Review ofMonetary and Credit Policy for the year 2003-04 The Statement on Mid-term Review of Monetary and Credit Policy consists of three parts: I. Mid-term Review of Macroeconomic and Monetary Developments in 2003-04; II. Stance of Monetary Policy for the Second Half of 2003-04; and III. Financial Sector Reforms and Monetary Policy Measures.2. This Statement follows the pattern already se
Statement by Dr. Y. Venugopal Reddy, Governor,Reserve Bank of India on Mid-term Review ofMonetary and Credit Policy for the year 2003-04 The Statement on Mid-term Review of Monetary and Credit Policy consists of three parts: I. Mid-term Review of Macroeconomic and Monetary Developments in 2003-04; II. Stance of Monetary Policy for the Second Half of 2003-04; and III. Financial Sector Reforms and Monetary Policy Measures.2. This Statement follows the pattern already se
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ਅਕਤੂ 31, 2003
Interest Rate Ceilings on Rupee Export Credit
Ref.No.MPD. 240 /07.01.279/2003-04October 31, 2003To,All Scheduled Commercial BanksDear Sir,Interest Rate Ceilings on Rupee Export CreditOn September 24, 2001, it was decided to effect reduction in the ceiling of interest rates charged by scheduled commercial banks on pre-shipment and post-shipment rupee export credit by one percentage point across the board with effect from September 26, 2001. This dispensation was earlier extended up to October 31, 2003.2. The valid
Ref.No.MPD. 240 /07.01.279/2003-04October 31, 2003To,All Scheduled Commercial BanksDear Sir,Interest Rate Ceilings on Rupee Export CreditOn September 24, 2001, it was decided to effect reduction in the ceiling of interest rates charged by scheduled commercial banks on pre-shipment and post-shipment rupee export credit by one percentage point across the board with effect from September 26, 2001. This dispensation was earlier extended up to October 31, 2003.2. The valid
ਅਕਤੂ 31, 2003
Rupee Export Credit Interest Rates
IECD No.5 /04.02.01/2003-04October 31, 2003The Chairmen/Chief Executives of all commercial banksDear Sir,Rupee Export Credit Interest Rates Please refer to our circular IECD.No.18/04.02.01/2002-03 dated April 30, 2003 on the captioned subject. 2. The validity of the interest rates on rupee export credit indicated in the above circular would now remain in force upto April 30, 2004. In this connection, you may please refer to circular No.MPD 240/O7.01.279/2003-04 dated
IECD No.5 /04.02.01/2003-04October 31, 2003The Chairmen/Chief Executives of all commercial banksDear Sir,Rupee Export Credit Interest Rates Please refer to our circular IECD.No.18/04.02.01/2002-03 dated April 30, 2003 on the captioned subject. 2. The validity of the interest rates on rupee export credit indicated in the above circular would now remain in force upto April 30, 2004. In this connection, you may please refer to circular No.MPD 240/O7.01.279/2003-04 dated
ਅਕਤੂ 30, 2003
Non-Banking Financial Companies, Miscellaneous Non-Banking Companies and Residuary Non-Banking Companies -Interest rate on NRI Deposits
DNBS. (PD) C.C. No.33 / 02.01 / 2003-04October 30, 2003ToAll Non-Banking Financial Companies, Miscellaneous Non-Banking Companies andResiduary Non-Banking CompaniesDear Sirs,Non-Banking Financial Companies,Miscellaneous Non-Banking Companies and Residuary Non-Banking Companies -Interest rate on NRI DepositsIn supersession of our circulars DNBS(PD) C.C. No.30, 31 and 32/02.01/2003-04 dated September 17, 19 and October 28, 2003 respectively on the above subject, it is c
DNBS. (PD) C.C. No.33 / 02.01 / 2003-04October 30, 2003ToAll Non-Banking Financial Companies, Miscellaneous Non-Banking Companies andResiduary Non-Banking CompaniesDear Sirs,Non-Banking Financial Companies,Miscellaneous Non-Banking Companies and Residuary Non-Banking Companies -Interest rate on NRI DepositsIn supersession of our circulars DNBS(PD) C.C. No.30, 31 and 32/02.01/2003-04 dated September 17, 19 and October 28, 2003 respectively on the above subject, it is c
ਅਕਤੂ 28, 2003
Non-Banking Financial Companies (NBFCs) Miscellaneous Non-Banking Companies (MNBCs) and Residuary Non-Banking Companies (RNBCs) - Interest rate on NRE Deposits
DNBS (PD) C.C. No.32 / 02.01 / 2003-04October 28, 2003ToAll Non-Banking Financial Companies, Miscellaneous Non-Banking Companies and Residuary Non-Banking Companies Dear Sirs,Non-Banking Financial Companies (NBFCs)Miscellaneous Non-Banking Companies (MNBCs) and Residuary Non-Banking Companies (RNBCs) – Interest rate on NRE DepositsPlease refer to our company circulars DNBS (PD) C.C. No.30 / 02.01 / 2003-04 dated September 17, 2003; and DNBS (PD) C.C. No.31 / 02.01 / 2
DNBS (PD) C.C. No.32 / 02.01 / 2003-04October 28, 2003ToAll Non-Banking Financial Companies, Miscellaneous Non-Banking Companies and Residuary Non-Banking Companies Dear Sirs,Non-Banking Financial Companies (NBFCs)Miscellaneous Non-Banking Companies (MNBCs) and Residuary Non-Banking Companies (RNBCs) – Interest rate on NRE DepositsPlease refer to our company circulars DNBS (PD) C.C. No.30 / 02.01 / 2003-04 dated September 17, 2003; and DNBS (PD) C.C. No.31 / 02.01 / 2
ਅਕਤੂ 27, 2003
Draft prudential guidelines on banks’ investment in non-SLR debt securities
DBOD.BP.711/21.04.141/2002-03October 27, 2003Addressed to the Chairman of allScheduled Commercial banks(excluding RRBs and LABs)Dear Sir,Draft prudential guidelines on banks’ investment in non-SLR debt securitiesIn terms of paragraph 68 of the Statement on Mid-Term Review of Monetary and Credit Policy for the year 2001-02, draft operating guidelines on management of non-SLR investment portfolio by banks was issued vide letter DBOD.BP.858/ 21.04.141/ 2001-02 dated Octo
DBOD.BP.711/21.04.141/2002-03October 27, 2003Addressed to the Chairman of allScheduled Commercial banks(excluding RRBs and LABs)Dear Sir,Draft prudential guidelines on banks’ investment in non-SLR debt securitiesIn terms of paragraph 68 of the Statement on Mid-Term Review of Monetary and Credit Policy for the year 2001-02, draft operating guidelines on management of non-SLR investment portfolio by banks was issued vide letter DBOD.BP.858/ 21.04.141/ 2001-02 dated Octo
ਅਕਤੂ 21, 2003
Interest Rates on Advances - Prime Lending Rate and Spreads
Ref No. DBOD. Dir. BC. 39/13.03.00/2003-04October 21, 2003All Scheduled Commercial Banks(excluding RRBs and LABs)Dear SirInterest Rates on Advances – Prime Lending Rate and SpreadsPlease refer to item 2 of Annexure I of our Master Circular DBOD. No. Dir. BC. 10/ 13.03.00/2003-04 dated August 14, 2003 regarding rate of interest on loans and advances (i) for purchase of consumer durables (ii) to individuals against shares and debentures/bonds and (iii) other non-priorit
Ref No. DBOD. Dir. BC. 39/13.03.00/2003-04October 21, 2003All Scheduled Commercial Banks(excluding RRBs and LABs)Dear SirInterest Rates on Advances – Prime Lending Rate and SpreadsPlease refer to item 2 of Annexure I of our Master Circular DBOD. No. Dir. BC. 10/ 13.03.00/2003-04 dated August 14, 2003 regarding rate of interest on loans and advances (i) for purchase of consumer durables (ii) to individuals against shares and debentures/bonds and (iii) other non-priorit
ਅਕਤੂ 21, 2003
Foreign Exchange Management (Foreign exchange derivative contracts) (Fourth Amendment) Regulations, 2003
The Gazette of India EXTRAORDINARY PART II - Section 3 - Sub-section (i) PUBLISHED BY AUTHORITY ================================================================ No.551 NEW DELHI, TUESDAY, NOVEMBER 11, 2003 ================================================================ MINISTRY OF FINANCE (Department of Economic Affairs) (RESERVE BANK OF INDIA) (Exchange Control Department) (Central Office) NOTIFICATION Mumbai, the 21st October 2003 No.FEMA.105/2003-RB Foreign Exchan
The Gazette of India EXTRAORDINARY PART II - Section 3 - Sub-section (i) PUBLISHED BY AUTHORITY ================================================================ No.551 NEW DELHI, TUESDAY, NOVEMBER 11, 2003 ================================================================ MINISTRY OF FINANCE (Department of Economic Affairs) (RESERVE BANK OF INDIA) (Exchange Control Department) (Central Office) NOTIFICATION Mumbai, the 21st October 2003 No.FEMA.105/2003-RB Foreign Exchan
ਅਕਤੂ 21, 2003
Export of Goods and Services
A.P. (DIR Series) Circular No.30 (October 21, 2003)
A.P. (DIR Series) Circular No.30 (October 21, 2003)
Reserve Bank of IndiaExchange Control DepartmentCentral OfficeMumbai 400 001A.P. (DIR Series) Circular No.30 October 21, 2003ToAll Authorised Dealers in Foreign ExchangeMadam/Sirs,Export of Goods and Services Attention of Authorised Dealers is invited to A.P. (DIR Series) Circulars No.6 dated September 24, 2001, No.2 dated July 4, 2002 and No.33 dated October 23, 2002, in terms of which manufacturer exporters/merchant exporters/traders of certain products and having e
Reserve Bank of IndiaExchange Control DepartmentCentral OfficeMumbai 400 001A.P. (DIR Series) Circular No.30 October 21, 2003ToAll Authorised Dealers in Foreign ExchangeMadam/Sirs,Export of Goods and Services Attention of Authorised Dealers is invited to A.P. (DIR Series) Circulars No.6 dated September 24, 2001, No.2 dated July 4, 2002 and No.33 dated October 23, 2002, in terms of which manufacturer exporters/merchant exporters/traders of certain products and having e
ਅਕਤੂ 20, 2003
Guidelines on netting off of old and
small value entries - Clearing Differences
small value entries - Clearing Differences
DBOD No. BP.BC. 37 /21.04.018/2003-04 October 20, 2003All Scheduled Commercial Banks(Excluding RRBs and LABs)Dear Sir,Guidelines on netting off of old and small value entries - Clearing DifferencesPlease refer to Para 3(e) of our circular DBOD No. BP.BC.4 /21.04.018 / 2003-04 dated July 19, 2003 on the captioned subject in terms of which banks should maintain a record of the clearing difference entries transferred to Head Office at the branches / Head Office for verif
DBOD No. BP.BC. 37 /21.04.018/2003-04 October 20, 2003All Scheduled Commercial Banks(Excluding RRBs and LABs)Dear Sir,Guidelines on netting off of old and small value entries - Clearing DifferencesPlease refer to Para 3(e) of our circular DBOD No. BP.BC.4 /21.04.018 / 2003-04 dated July 19, 2003 on the captioned subject in terms of which banks should maintain a record of the clearing difference entries transferred to Head Office at the branches / Head Office for verif
ਅਕਤੂ 18, 2003
Interest Rate on Deposits under Non-resident (External) Rupee Account (NRE Accounts)
DBOD. No. Dir. BC. 35/13.01.09/2003-04October 18, 2003Interest Rate on Deposits under Non-resident (External) Rupee Account (NRE Accounts)In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 and in modification of Directive DBOD. No. Dir. BC.25/ 13.01.09/ 2003-04 dated September 15, 2003 relating to interest rate on deposits accepted under Non-resident (External) Rupee Account Scheme, the Reserve Bank of India, being satisfied that it
DBOD. No. Dir. BC. 35/13.01.09/2003-04October 18, 2003Interest Rate on Deposits under Non-resident (External) Rupee Account (NRE Accounts)In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 and in modification of Directive DBOD. No. Dir. BC.25/ 13.01.09/ 2003-04 dated September 15, 2003 relating to interest rate on deposits accepted under Non-resident (External) Rupee Account Scheme, the Reserve Bank of India, being satisfied that it
ਅਕਤੂ 18, 2003
Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)
DBOD. No. Dir. BC. 36/13.01.09/2003-04October 18, 2003All Scheduled Commercial Banks(excluding RRBs and LABs)Dear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular DBOD No. Dir. BC. 26/13.01.09/2003-04 dated 15th September 2003 on the captioned subject. 2. On a review it has been decided that, until further notice, the interest rates on fresh repatriable Non Resident (External) Rupee (NRE) Deposits fo
DBOD. No. Dir. BC. 36/13.01.09/2003-04October 18, 2003All Scheduled Commercial Banks(excluding RRBs and LABs)Dear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular DBOD No. Dir. BC. 26/13.01.09/2003-04 dated 15th September 2003 on the captioned subject. 2. On a review it has been decided that, until further notice, the interest rates on fresh repatriable Non Resident (External) Rupee (NRE) Deposits fo
ਅਕਤੂ 18, 2003
Interest Rate on Deposits under Non-Resident
(External) Rupee Accounts (NRE Accounts)
(External) Rupee Accounts (NRE Accounts)
RPCD.CO.RF.BC.No.34/07.38.01/2003-04October 18, 2003Ashwina 26, 1925(Saka)ToAll State Co-operative Banks and DistrictCentral Co-operative BanksDear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular RPCD.RF.BC.No.25/07.38.01/2003-04 dated September 15, 2003 on the above subject. 2. On a review, it has been decided that, until further notice, the interest rates on fresh repatriable Non-Resident (Externa
RPCD.CO.RF.BC.No.34/07.38.01/2003-04October 18, 2003Ashwina 26, 1925(Saka)ToAll State Co-operative Banks and DistrictCentral Co-operative BanksDear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular RPCD.RF.BC.No.25/07.38.01/2003-04 dated September 15, 2003 on the above subject. 2. On a review, it has been decided that, until further notice, the interest rates on fresh repatriable Non-Resident (Externa
ਅਕਤੂ 18, 2003
Interest Rate on Deposits under Non-Resident
(External) Rupee Accounts (NRE Accounts)
(External) Rupee Accounts (NRE Accounts)
UBD.BPD.PCB. Cir 20/13.01.00/2003-04 October 18, 2003CEOs of all Primary (Urban) Co-operative BanksDear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular UBD.CO.BPD. /14/13.01.00/2003-04 dated September 17, 2003 on the captioned subject. 2. On a review it has been decided that, until further notice, the interest rates on fresh repatriable Non Resident (External) Rupee (NRE) Deposits for one to three y
UBD.BPD.PCB. Cir 20/13.01.00/2003-04 October 18, 2003CEOs of all Primary (Urban) Co-operative BanksDear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular UBD.CO.BPD. /14/13.01.00/2003-04 dated September 17, 2003 on the captioned subject. 2. On a review it has been decided that, until further notice, the interest rates on fresh repatriable Non Resident (External) Rupee (NRE) Deposits for one to three y
ਅਕਤੂ 15, 2003
Guidelines for bank finance for PSU Disinvestments
DBOD. BP. BC. 34 / 21.04.137/ 2003- 200415 October 2003All Scheduled Commercial Banks( excluding RRBs & LABs)Dear Sir,Guidelines for bank finance for PSU Disinvestments Please refer to paragraph 5 of Circular No. DBOD. BP. BC. 83/ 21.04.137/ 2002- 2003 dated 21 March 2003 advising banks that Special Purpose Vehicles (SPVs) complying with certain conditions would not be treated as investment companies and therefore would not be considered as NBFCs and hence would b
DBOD. BP. BC. 34 / 21.04.137/ 2003- 200415 October 2003All Scheduled Commercial Banks( excluding RRBs & LABs)Dear Sir,Guidelines for bank finance for PSU Disinvestments Please refer to paragraph 5 of Circular No. DBOD. BP. BC. 83/ 21.04.137/ 2002- 2003 dated 21 March 2003 advising banks that Special Purpose Vehicles (SPVs) complying with certain conditions would not be treated as investment companies and therefore would not be considered as NBFCs and hence would b
ਅਕਤੂ 14, 2003
Auction for Sale (Re-issue ) of ‘5.69 per cent Government Stock, 2018’
Government of indiaMinistry of finance(Department of Economic Affairs)(Budget Division)New Delhi, the October 14, 2003NOTIFICATIONAuction for Sale (Re-issue ) of ‘5.69 per cent Government Stock, 2018’No.4(8)-W&M/2003 : Government of India hereby notifies sale (reissue) of ‘5.69 per cent Government Stock, 2018’ for an aggregate amount of Rs. 5,000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific
Government of indiaMinistry of finance(Department of Economic Affairs)(Budget Division)New Delhi, the October 14, 2003NOTIFICATIONAuction for Sale (Re-issue ) of ‘5.69 per cent Government Stock, 2018’No.4(8)-W&M/2003 : Government of India hereby notifies sale (reissue) of ‘5.69 per cent Government Stock, 2018’ for an aggregate amount of Rs. 5,000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific
ਅਕਤੂ 14, 2003
Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities
Annexure II. Scope : With a view to encouraging wider participation and retail holding of Government securities it is proposed to allow participation on "non-competitive" basis in select auctions of dated Government of India securities. Accordingly, non-competitive bids up to 5 percent of the notified amount will be accepted in the auctions of dated securities. The reserved amount will be within the notified amount.II. Eligibility: Participation on a non-competitive b
Annexure II. Scope : With a view to encouraging wider participation and retail holding of Government securities it is proposed to allow participation on "non-competitive" basis in select auctions of dated Government of India securities. Accordingly, non-competitive bids up to 5 percent of the notified amount will be accepted in the auctions of dated securities. The reserved amount will be within the notified amount.II. Eligibility: Participation on a non-competitive b
ਅਕਤੂ 14, 2003
Auction of Government of India Dated Securities
Ref.No. IDMD. 1514 /08.02.31.01/2003-04October 14, 2003 All Scheduled Commercial Banks excluding RRBs/All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/All Primary Dealers Dear Sirs,Auction of Government of India Dated Securities Government of India have offered to sell (re-issue) of "5.69 percent Government Stock 2018" for a notified amount of Rs.5,000 crore (nominal) through a price based auction using multiple
Ref.No. IDMD. 1514 /08.02.31.01/2003-04October 14, 2003 All Scheduled Commercial Banks excluding RRBs/All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/All Primary Dealers Dear Sirs,Auction of Government of India Dated Securities Government of India have offered to sell (re-issue) of "5.69 percent Government Stock 2018" for a notified amount of Rs.5,000 crore (nominal) through a price based auction using multiple
ਅਕਤੂ 10, 2003
Offshore Banking Units (OBUs)
in Special Economic Zones (SEZs)
in Special Economic Zones (SEZs)
DBOD.IBS.BC.32/23.13.004/2003-04 October 10, 2003All scheduled commercial banks(excluding RRBs and LABs)Dear Sir,Offshore Banking Units (OBUs)in Special Economic Zones (SEZs)Please refer to paragraph 2.5 of the scheme for setting up of OBUs in SEZs enclosed to circular DBOD.IBS.BC. 42/23.13.004/2002-03 dated November 11, 2002. Banks are aware that the OBUs have been set up for the purpose of lending to units located in the SEZ and SEZ developers. Further, OBUs are als
DBOD.IBS.BC.32/23.13.004/2003-04 October 10, 2003All scheduled commercial banks(excluding RRBs and LABs)Dear Sir,Offshore Banking Units (OBUs)in Special Economic Zones (SEZs)Please refer to paragraph 2.5 of the scheme for setting up of OBUs in SEZs enclosed to circular DBOD.IBS.BC. 42/23.13.004/2002-03 dated November 11, 2002. Banks are aware that the OBUs have been set up for the purpose of lending to units located in the SEZ and SEZ developers. Further, OBUs are als
ਅਕਤੂ 06, 2003
Alteration in the name of bank in the Second Schedule to the Reserve Bank of India Act, 1934 - "Development Bank of Singapore Ltd. " to "DBS Bank Ltd".
DBOD.No.BC29/12.06.096/2003-04 October 6, 2003All Scheduled Commercial BanksDear Sirs,Alteration in the name of bank in the Second Schedule to the Reserve Bankof India Act, 1934 - "DevelopmentBank of Singapore Ltd. " to "DBS Bank Ltd".We advise that the name of "Development Bank of Singapore Ltd." has been changed to "DBS Bank Ltd." in the second schedule to Reserve Bank of India Act, 1934 with effect from 9th August 2003, i.e. the date on which the relative notificat
DBOD.No.BC29/12.06.096/2003-04 October 6, 2003All Scheduled Commercial BanksDear Sirs,Alteration in the name of bank in the Second Schedule to the Reserve Bankof India Act, 1934 - "DevelopmentBank of Singapore Ltd. " to "DBS Bank Ltd".We advise that the name of "Development Bank of Singapore Ltd." has been changed to "DBS Bank Ltd." in the second schedule to Reserve Bank of India Act, 1934 with effect from 9th August 2003, i.e. the date on which the relative notificat
ਅਕਤੂ 03, 2003
Foreign Exchange Management [Withdrawal of General Permission to Overseas Corporate Bodies (OCBs)] Regulations, 2003
Reserve Bank of India Exchange Control Department Central Office Mumbai-400 001Notification No. FEMA@@NBSP@@ 101@@NBSP@@ /2003-RB Dated October@@NBSP@@ 3rd@@NBSP@@ ,2003 Foreign Exchange Management [Withdrawal of General Permission to Overseas Corporate Bodies (OCBs)] Regulations, 2003 In exercise of the powers conferred by clauses (b), (d), (e) and (f) of sub-section (3) of Section 6 read with Section 47 of the FEMA, 1999 (42 of 1999) and all other powers available t
Reserve Bank of India Exchange Control Department Central Office Mumbai-400 001Notification No. FEMA@@NBSP@@ 101@@NBSP@@ /2003-RB Dated October@@NBSP@@ 3rd@@NBSP@@ ,2003 Foreign Exchange Management [Withdrawal of General Permission to Overseas Corporate Bodies (OCBs)] Regulations, 2003 In exercise of the powers conferred by clauses (b), (d), (e) and (f) of sub-section (3) of Section 6 read with Section 47 of the FEMA, 1999 (42 of 1999) and all other powers available t
ਸਤੰ 26, 2003
Swarojgar Credit Card (SCC) Scheme
RPCD.PLNFS.BC.29/06.06.22/2003-04September 26, 2003The Chairman/Managing DirectorAll Scheduled Commercial BanksDear Sir,Swarojgar Credit Card (SCC) Scheme As announced by the Hon'ble Prime Minister in his address to the Nation on the Independence Day, it has been decided to introduce a new Credit facility for Fishermen, Rickshaw Owners, Self employed persons etc. A Model Scheme has since been prepared by NABARD and approved by Ministry of Finance, under the nomenclatu
RPCD.PLNFS.BC.29/06.06.22/2003-04September 26, 2003The Chairman/Managing DirectorAll Scheduled Commercial BanksDear Sir,Swarojgar Credit Card (SCC) Scheme As announced by the Hon'ble Prime Minister in his address to the Nation on the Independence Day, it has been decided to introduce a new Credit facility for Fishermen, Rickshaw Owners, Self employed persons etc. A Model Scheme has since been prepared by NABARD and approved by Ministry of Finance, under the nomenclatu
ਸਤੰ 22, 2003
Entry of banks into Insurance business
DBOD.No.FSC.BC.27 /24.01.018/2003-2004September 22, 2003All Scheduled Commercial Banks (excluding RRBs and LABs)Dear Sir, Entry of banks into Insurance businessPlease refer to our Circular DBOD.No.FSC.BC/16/24.01.018/2000-2001 dated August 9, 2000 which, inter alia, permitted banks to set up insurance joint ventures on risk participation basis and also to undertake insurance business as agents of insurance companies on fee basis, without any risk participation by bank
DBOD.No.FSC.BC.27 /24.01.018/2003-2004September 22, 2003All Scheduled Commercial Banks (excluding RRBs and LABs)Dear Sir, Entry of banks into Insurance businessPlease refer to our Circular DBOD.No.FSC.BC/16/24.01.018/2000-2001 dated August 9, 2000 which, inter alia, permitted banks to set up insurance joint ventures on risk participation basis and also to undertake insurance business as agents of insurance companies on fee basis, without any risk participation by bank
ਸਤੰ 19, 2003
Guidelines on netting off of old and
small value entries - Clearing differences
small value entries - Clearing differences
BPD 13 /09. 11. 00/2003-04September 19, 2003All Primary (Urban) Co-operative BanksDear Sir,Guidelines on netting off of old and small value entries - Clearing differencesAs you are aware, persistence of a large number of outstanding entries in the Clearing Adjustment Account has been a matter of concern to banks and the Reserve Bank of India. Banks have been advised, from time to time, to take corrective action for early adjustment of the pending entries in the Cleari
BPD 13 /09. 11. 00/2003-04September 19, 2003All Primary (Urban) Co-operative BanksDear Sir,Guidelines on netting off of old and small value entries - Clearing differencesAs you are aware, persistence of a large number of outstanding entries in the Clearing Adjustment Account has been a matter of concern to banks and the Reserve Bank of India. Banks have been advised, from time to time, to take corrective action for early adjustment of the pending entries in the Cleari
ਸਤੰ 19, 2003
Declaration of dividend by primary (urban) co-operative banks
BSD.IP.PCB. 16 /12.05.03/2003-0419 September 2003The Chief Executive Officers of all Primary (Urban) Co-operative BanksDear Sir,Declaration of dividend by primary (urban) co-operative banks As you are aware, urban co-operative banks (UCBs) are set up with the objective of promoting thrift among the members, provision of credit to members who are persons of limited means and extension of banking services to the customers. Several Expert Committees which have studied th
BSD.IP.PCB. 16 /12.05.03/2003-0419 September 2003The Chief Executive Officers of all Primary (Urban) Co-operative BanksDear Sir,Declaration of dividend by primary (urban) co-operative banks As you are aware, urban co-operative banks (UCBs) are set up with the objective of promoting thrift among the members, provision of credit to members who are persons of limited means and extension of banking services to the customers. Several Expert Committees which have studied th
ਸਤੰ 19, 2003
Residuary Non-Banking Companies (RNBCs) - Interest rate on NRE Deposits
DNBS (PD) C.C. No.31 / 02.01 / 2003-04September 19, 2003ToAll Residuary Non-Banking Companies Dear Sirs,Residuary Non-Banking Companies (RNBCs) - Interest rate on NRE DepositsIt has been decided that, keeping in view the prevailing interest rates on fresh repatriable deposits accepted from non resident Indians in the entire financial system, the rate of interest which the RNBCs can pay on such deposits should also be the same as is payable by the scheduled commercial
DNBS (PD) C.C. No.31 / 02.01 / 2003-04September 19, 2003ToAll Residuary Non-Banking Companies Dear Sirs,Residuary Non-Banking Companies (RNBCs) - Interest rate on NRE DepositsIt has been decided that, keeping in view the prevailing interest rates on fresh repatriable deposits accepted from non resident Indians in the entire financial system, the rate of interest which the RNBCs can pay on such deposits should also be the same as is payable by the scheduled commercial
ਸਤੰ 17, 2003
Interest Rate on Deposits under Non-Resident
(External) Rupee Accounts (NRE Accounts)
(External) Rupee Accounts (NRE Accounts)
UBD.CO.BPD/ 14 /13.01.00/2003-0417 September 2003All Urban Cooperative BanksDear Sir,Interest Rate on Deposits under Non-Resident(External) Rupee Accounts (NRE Accounts)Please refer to our Circular No.UBD.BPD.PCB.Cir.4/13.01.00/2002-03 dated July 17, 2003 on the captioned subject.2. On a review, it has been decided that, until further notice, the interest rates on fresh repatriable NRE deposits for one to three years contracted (effective close of business in India on
UBD.CO.BPD/ 14 /13.01.00/2003-0417 September 2003All Urban Cooperative BanksDear Sir,Interest Rate on Deposits under Non-Resident(External) Rupee Accounts (NRE Accounts)Please refer to our Circular No.UBD.BPD.PCB.Cir.4/13.01.00/2002-03 dated July 17, 2003 on the captioned subject.2. On a review, it has been decided that, until further notice, the interest rates on fresh repatriable NRE deposits for one to three years contracted (effective close of business in India on
ਸਤੰ 17, 2003
Non-Banking Financial Companies Miscellaneous Non-Banking Companies
- Interest rate on NRI Deposits
- Interest rate on NRI Deposits
DNBS (PD) C.C. No.30 / 02.01 / 2003-04September 17, 2003ToAll Non-Banking Financial Companies and Miscellaneous Non-Banking CompaniesDear Sirs,Non-Banking Financial Companies Miscellaneous Non-Banking Companies – Interest rate on NRI DepositsIt has been decided that, keeping in view the prevailing interest rates on fresh repatriable deposits accepted from non resident Indians in the entire financial system, the rate of interest which the Non Banking Financial Companie
DNBS (PD) C.C. No.30 / 02.01 / 2003-04September 17, 2003ToAll Non-Banking Financial Companies and Miscellaneous Non-Banking CompaniesDear Sirs,Non-Banking Financial Companies Miscellaneous Non-Banking Companies – Interest rate on NRI DepositsIt has been decided that, keeping in view the prevailing interest rates on fresh repatriable deposits accepted from non resident Indians in the entire financial system, the rate of interest which the Non Banking Financial Companie
ਸਤੰ 16, 2003
Derecognition of Overseas Corporate Bodies as an Investor Class
A.P.(DIR Series ) Circular No.14 (Sep 16, 2003)
A.P.(DIR Series ) Circular No.14 (Sep 16, 2003)
Reserve Bank of IndiaExchange Control DepartmentCentral OfficeMumbai-400 001A.P.(DIR Series ) Circular No.14September 16, 2003ToAll Authorised Dealers in Foreign ExchangeDear Sirs / MadamDerecognition of Overseas Corporate Bodies as an Investor Class It has been decided in consultation with the Government, to derecognise Overseas Corporate Bodies (OCBs) in India as an eligible 'class of investor' under various routes/schemes available under extant Foreign Exchange Man
Reserve Bank of IndiaExchange Control DepartmentCentral OfficeMumbai-400 001A.P.(DIR Series ) Circular No.14September 16, 2003ToAll Authorised Dealers in Foreign ExchangeDear Sirs / MadamDerecognition of Overseas Corporate Bodies as an Investor Class It has been decided in consultation with the Government, to derecognise Overseas Corporate Bodies (OCBs) in India as an eligible 'class of investor' under various routes/schemes available under extant Foreign Exchange Man
ਸਤੰ 15, 2003
Interest Rate on Deposits under Non-resident
(External) Rupee Account (NRE Accounts)
(External) Rupee Account (NRE Accounts)
RPCD.RF.DIR.26/07.38.01/2003-04September 15, 2003Interest Rate on Deposits under Non-resident (External) Rupee Account (NRE Accounts)In exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949 and in modification of our Directive RPCD.RF.Dir.BC10/07.38.01/2002-03 dated July 17, 2003 relating to interest rate on deposits accepted under Non-resident (External) Rupee Accounts Scheme, the Reserve Bank of India, being satisfied that it is
RPCD.RF.DIR.26/07.38.01/2003-04September 15, 2003Interest Rate on Deposits under Non-resident (External) Rupee Account (NRE Accounts)In exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949 and in modification of our Directive RPCD.RF.Dir.BC10/07.38.01/2002-03 dated July 17, 2003 relating to interest rate on deposits accepted under Non-resident (External) Rupee Accounts Scheme, the Reserve Bank of India, being satisfied that it is
ਸਤੰ 15, 2003
Interest Rate on Deposits under Non-Resident
(External) Rupee Accounts (NRE Accounts)
(External) Rupee Accounts (NRE Accounts)
Ref.No.MPD.BC.238/07.01.279/2003-04September 15, 2003Bhadra 24, 1925(S)ToAll Scheduled Commercial Banks(excluding RRBs and LABs)Dear Sirs, Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular No.MPD.BC.237/07.01.279/2003-04 dated July 17, 2003 on the captioned subject. 2. On a review, it has been decided that, until further notice, the interest rates on fresh repatriable NRE deposits for one to three years c
Ref.No.MPD.BC.238/07.01.279/2003-04September 15, 2003Bhadra 24, 1925(S)ToAll Scheduled Commercial Banks(excluding RRBs and LABs)Dear Sirs, Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular No.MPD.BC.237/07.01.279/2003-04 dated July 17, 2003 on the captioned subject. 2. On a review, it has been decided that, until further notice, the interest rates on fresh repatriable NRE deposits for one to three years c
ਸਤੰ 15, 2003
Interest Rate on Deposits under Non-Resident
(External) Rupee Accounts (NRE Accounts)
(External) Rupee Accounts (NRE Accounts)
RPCD.CO.RF.BC.No.25/07.38.01/2003-04September 15, 2003Bhadra 24, 1925(Saka) ToAll State Co-operative Banks and DistrictCentral Co-operative BanksDear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular RPCD.RF.BC.No.9/07.38.01/2003-04 dated July 17, 2003 on the above subject. 2. On a review, it has been decided that, until further notice, the interest rates on fresh repatriable NRE deposits for one to t
RPCD.CO.RF.BC.No.25/07.38.01/2003-04September 15, 2003Bhadra 24, 1925(Saka) ToAll State Co-operative Banks and DistrictCentral Co-operative BanksDear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular RPCD.RF.BC.No.9/07.38.01/2003-04 dated July 17, 2003 on the above subject. 2. On a review, it has been decided that, until further notice, the interest rates on fresh repatriable NRE deposits for one to t
ਸਤੰ 15, 2003
Interest Rate on Deposits under Non-resident
(External) Rupee Account (NRE Accounts)
(External) Rupee Account (NRE Accounts)
DBOD. No. Dir. BC. 25/13.01.09/2003-04September 15, 2003Interest Rate on Deposits under Non-resident (External) Rupee Account (NRE Accounts)In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 and in modification of Directive DBOD. No. Dir. BC.1/ 13.01.09/ 2003-04 dated July 17, 2003 relating to interest rate on deposits accepted under Non-resident (External) Rupee Account Scheme, the Reserve Bank of India, being satisfied that it is
DBOD. No. Dir. BC. 25/13.01.09/2003-04September 15, 2003Interest Rate on Deposits under Non-resident (External) Rupee Account (NRE Accounts)In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 and in modification of Directive DBOD. No. Dir. BC.1/ 13.01.09/ 2003-04 dated July 17, 2003 relating to interest rate on deposits accepted under Non-resident (External) Rupee Account Scheme, the Reserve Bank of India, being satisfied that it is
ਸਤੰ 13, 2003
Accounting treatment of legal expenses incurred by banks in suit filed accounts
DBOD. BP. BC. 24 / 21.04.018/ 2003- 200413 September 2003All Commercial Banks(except RRBs & LABs)Dear Sir,Accounting treatment of legal expenses incurred by banks in suit filed accountsIt has been observed that banks follow divergent practices in respect of accounting of legal expenses incurred in case of suit filed accounts. The issue was examined in consultation with Institute of Chartered Accountants of India and it has been decided that banks should adopt the
DBOD. BP. BC. 24 / 21.04.018/ 2003- 200413 September 2003All Commercial Banks(except RRBs & LABs)Dear Sir,Accounting treatment of legal expenses incurred by banks in suit filed accountsIt has been observed that banks follow divergent practices in respect of accounting of legal expenses incurred in case of suit filed accounts. The issue was examined in consultation with Institute of Chartered Accountants of India and it has been decided that banks should adopt the
ਸਤੰ 11, 2003
Section 23 of Banking Regulation Act, 1949 -
Providing Depository Services at Extension Counters.
Providing Depository Services at Extension Counters.
DBOD.No.BL.BC 23 /22.01.001/2003September 11, 2003.Bhadra 20,1925(Saka)All Scheduled Commercial Banks (excluding RRBs and LABs)Dear SirSection 23 of Banking Regulation Act, 1949 – Providing Depository Services at Extension Counters. Please refer to Para 10.1 of our master circular No. DBOD. BL.BC. 5/22.01.001/ 2002 dated July 18, 2002 on the types of business that may be provided at Extension Counters (ECs). 2. Based on requests received from banks, it has been decide
DBOD.No.BL.BC 23 /22.01.001/2003September 11, 2003.Bhadra 20,1925(Saka)All Scheduled Commercial Banks (excluding RRBs and LABs)Dear SirSection 23 of Banking Regulation Act, 1949 – Providing Depository Services at Extension Counters. Please refer to Para 10.1 of our master circular No. DBOD. BL.BC. 5/22.01.001/ 2002 dated July 18, 2002 on the types of business that may be provided at Extension Counters (ECs). 2. Based on requests received from banks, it has been decide
ਸਤੰ 05, 2003
Exposure Draft on Modified Off-Site Surveillance Returns
Urban Banks Department Central Office System for Off-site surveillance (OSS) for scheduled (Primary) Urban Cooperative banks was introduced vide UBD circular BD.No.BSD.I/SCB.4/12.05.01/2000-01, April 10, 2001. In terms of the circular a set of 10 OSS returns was introduced to supplement on-site supervision of large urban cooperative banks. It is now proposed to revise the content and structure of the OSS returns with the objective of reducing the volume of data requir
Urban Banks Department Central Office System for Off-site surveillance (OSS) for scheduled (Primary) Urban Cooperative banks was introduced vide UBD circular BD.No.BSD.I/SCB.4/12.05.01/2000-01, April 10, 2001. In terms of the circular a set of 10 OSS returns was introduced to supplement on-site supervision of large urban cooperative banks. It is now proposed to revise the content and structure of the OSS returns with the objective of reducing the volume of data requir
ਸਤੰ 01, 2003
Auction of Government of India Dated Securities
Ref.No. IDMD. 878 /08.02.31.01/2003-04September 1, 2003 All Scheduled Commercial Banks excluding RRBs/All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/All Primary Dealers Dear Sirs,Auction of Government of India Dated SecuritiesGovernment of India have offered to sale (re-issue) of "6.17 percent Government Stock 2023" for a notified amount of Rs.6,000 crore (nominal) through a price based auction using multiple
Ref.No. IDMD. 878 /08.02.31.01/2003-04September 1, 2003 All Scheduled Commercial Banks excluding RRBs/All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/All Primary Dealers Dear Sirs,Auction of Government of India Dated SecuritiesGovernment of India have offered to sale (re-issue) of "6.17 percent Government Stock 2023" for a notified amount of Rs.6,000 crore (nominal) through a price based auction using multiple
ਸਤੰ 01, 2003
Auction for Sale (Re-issue) of ‘6.17 per cent Government Stock, 2023’
Government of IndiaMinistry of Finance(Department of Economic Affairs)(Budget Division)New Delhi, the September 1, 2003NOTIFICATIONAuction for Sale (Re-issue) of ‘6.17 per cent Government Stock, 2023’No.4(8)-W&M/2003: Government of India hereby notifies sale (reissue) of ‘6.17 per cent Government Stock, 2023’ for an aggregate amount of Rs. 6,000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific N
Government of IndiaMinistry of Finance(Department of Economic Affairs)(Budget Division)New Delhi, the September 1, 2003NOTIFICATIONAuction for Sale (Re-issue) of ‘6.17 per cent Government Stock, 2023’No.4(8)-W&M/2003: Government of India hereby notifies sale (reissue) of ‘6.17 per cent Government Stock, 2023’ for an aggregate amount of Rs. 6,000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific N
ਸਤੰ 01, 2003
Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities
ANNEX I. Scope: With a view to encouraging wider participation and retail holding of Government securities it is proposed to allow participation on "non-competitive" basis in select auctions of dated Government of India securities. Accordingly, non-competitive bids up to 5 percent of the notified amount will be accepted in the auctions of dated securities. The reserved amount will be within the notified amount.II. Eligibility: Participation on a non-competitive basis
ANNEX I. Scope: With a view to encouraging wider participation and retail holding of Government securities it is proposed to allow participation on "non-competitive" basis in select auctions of dated Government of India securities. Accordingly, non-competitive bids up to 5 percent of the notified amount will be accepted in the auctions of dated securities. The reserved amount will be within the notified amount.II. Eligibility: Participation on a non-competitive basis
ਅਗ 28, 2003
Exemption to Securitisation or Reconstruction Companies from RBI Act
(Notification No.DNBS.3/CGM (OPA)- 2003 dated August 28, 2003)
(Notification No.DNBS.3/CGM (OPA)- 2003 dated August 28, 2003)
Reserve Bank of IndiaDepartment of Non-Banking SupervisionCentral Office, Centre 1World Trade CentreCuffe Parade, ColabaMumbai - 400 005Notification No.DNBS.3/CGM (OPA)- 2003 dated August 28, 2003Exemption to Securitisation or Reconstruction Companies from RBI ActThe Reserve Bank of India, on being satisfied that it is necessary so to do, in exercise of its powers conferred under Section 45NC of the Reserve Bank of India Act, 1934 (2 of 1934) hereby declares that the
Reserve Bank of IndiaDepartment of Non-Banking SupervisionCentral Office, Centre 1World Trade CentreCuffe Parade, ColabaMumbai - 400 005Notification No.DNBS.3/CGM (OPA)- 2003 dated August 28, 2003Exemption to Securitisation or Reconstruction Companies from RBI ActThe Reserve Bank of India, on being satisfied that it is necessary so to do, in exercise of its powers conferred under Section 45NC of the Reserve Bank of India Act, 1934 (2 of 1934) hereby declares that the
ਅਗ 26, 2003
New Policy on the working of Local Area Banks
Rural Planning and Credit DepartmentLocal Area Bank SectionNew Policy on the working of Local Area BanksThe Local Area Bank Scheme was introduced in August 1996 pursuant to the announcement of the then Finance Minister in his budget speech. Following this, guidelines for setting up of Local Area Banks (LABs) in the private sector were announced by the Reserve Bank on 24th August 1996. 2.As no comprehensive review of the LAB scheme had been made since the issuance of g
Rural Planning and Credit DepartmentLocal Area Bank SectionNew Policy on the working of Local Area BanksThe Local Area Bank Scheme was introduced in August 1996 pursuant to the announcement of the then Finance Minister in his budget speech. Following this, guidelines for setting up of Local Area Banks (LABs) in the private sector were announced by the Reserve Bank on 24th August 1996. 2.As no comprehensive review of the LAB scheme had been made since the issuance of g
ਅਗ 21, 2003
Computation of Net Demand and Time Liabilities (NDTL)
for the purpose of maintenance of CRR/SLR
for the purpose of maintenance of CRR/SLR
DBOD. No. Ret. BC. 14/12.01.001/2003-04August 21 , 2003To all Scheduled Commercial Banks(Excluding RRBs and LABs)Dear Sir,Computation of Net Demand and Time Liabilities (NDTL) for the purpose of maintenance of CRR/SLRIt has been observed that the scheduled commercial banks are not following a uniform practice in reckoning their liability in respect of arrangements with correspondent banks for remittance facilities and disbursement of interest/dividend warrants. Under
DBOD. No. Ret. BC. 14/12.01.001/2003-04August 21 , 2003To all Scheduled Commercial Banks(Excluding RRBs and LABs)Dear Sir,Computation of Net Demand and Time Liabilities (NDTL) for the purpose of maintenance of CRR/SLRIt has been observed that the scheduled commercial banks are not following a uniform practice in reckoning their liability in respect of arrangements with correspondent banks for remittance facilities and disbursement of interest/dividend warrants. Under
ਅਗ 19, 2003
Guidelines for issue of Commercial Paper (CP)
Defaults in Commercial Paper market
Defaults in Commercial Paper market
IECD No. /08.15.01/2003-04August 19, 2003The Chairman and Managing Directors/Chief Executives ofall Scheduled Commercial BanksDear Sir,Guidelines for issue of Commercial Paper (CP)Defaults in Commercial Paper marketPlease refer to our guidelines for issue of CP issued vide Circular No.IECD/2/ 08.15.01/2001-02 dated July 23, 2001. It has been decided to put in place in Reserve Bank of India a mechanism to monitor defaults in redemption of Commercial Paper. Banks which
IECD No. /08.15.01/2003-04August 19, 2003The Chairman and Managing Directors/Chief Executives ofall Scheduled Commercial BanksDear Sir,Guidelines for issue of Commercial Paper (CP)Defaults in Commercial Paper marketPlease refer to our guidelines for issue of CP issued vide Circular No.IECD/2/ 08.15.01/2001-02 dated July 23, 2001. It has been decided to put in place in Reserve Bank of India a mechanism to monitor defaults in redemption of Commercial Paper. Banks which
ਅਗ 18, 2003
Section 23 of Banking Regulation Act, 1949 - Take over of bank branches
DBOD.No.BL.BC 13/22.01.001/2003August 18, 2003.Shravana 27,1925(Saka)All Scheduled Commercial Banks (excluding RRBs and LABs)Dear Sir, Section 23 of Banking Regulation Act, 1949 – Take over of bank branches. Please refer to paragraph 7 of our Master Circular DBOD.No.BL.BC.5/ 22.01.001/ 2002 dated 18th July 2002 on Branch Licensing regarding swapping of branches as well as the announcement made in the Monetary and Credit Policy for the year 2003 - 2004 regarding transf
DBOD.No.BL.BC 13/22.01.001/2003August 18, 2003.Shravana 27,1925(Saka)All Scheduled Commercial Banks (excluding RRBs and LABs)Dear Sir, Section 23 of Banking Regulation Act, 1949 – Take over of bank branches. Please refer to paragraph 7 of our Master Circular DBOD.No.BL.BC.5/ 22.01.001/ 2002 dated 18th July 2002 on Branch Licensing regarding swapping of branches as well as the announcement made in the Monetary and Credit Policy for the year 2003 - 2004 regarding transf
ਅਗ 14, 2003
Review of Non-Public Business Working Day (NPBWD)
observed by rural branches of commercial banks.
observed by rural branches of commercial banks.
DBOD.No.Leg. BC.9 / 09.05.001/2003-04August 14, 2003All Scheduled Commercial Banks (Excluding RRBs and LABs)Dear Sir,Review of Non-Public Business Working Day (NPBWD)observed by rural branches of commercial banks.Please refer to our circular DBOD.No.Leg.BC.84/C-672 /86 dated August 8, 1986 advising all commercial banks to declare one day in a week as Non-Public Business Working Day (NPBWD) for their rural branches i.e on that day no public transactions should be handl
DBOD.No.Leg. BC.9 / 09.05.001/2003-04August 14, 2003All Scheduled Commercial Banks (Excluding RRBs and LABs)Dear Sir,Review of Non-Public Business Working Day (NPBWD)observed by rural branches of commercial banks.Please refer to our circular DBOD.No.Leg.BC.84/C-672 /86 dated August 8, 1986 advising all commercial banks to declare one day in a week as Non-Public Business Working Day (NPBWD) for their rural branches i.e on that day no public transactions should be handl
ਅਗ 14, 2003
Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949
RPCD.CO.No.RF.BC.No.18/07.02.05/2003-0414 August 2003ALL REGIONAL RURAL BANKSSponsor Banks of RRBsDear Sirs,Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949Please refer to our circulars RPCD.RF.No.87/07.02.05/2001-02 dated 29 April 2002 and RPCD.No.RF.BC.37/07.02.05/2002-03 dated 29 October 2002 advising Regional Rural Banks to maintain their entire SLR holdings in Government Securities by converting existing deposits with sponsor b
RPCD.CO.No.RF.BC.No.18/07.02.05/2003-0414 August 2003ALL REGIONAL RURAL BANKSSponsor Banks of RRBsDear Sirs,Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949Please refer to our circulars RPCD.RF.No.87/07.02.05/2001-02 dated 29 April 2002 and RPCD.No.RF.BC.37/07.02.05/2002-03 dated 29 October 2002 advising Regional Rural Banks to maintain their entire SLR holdings in Government Securities by converting existing deposits with sponsor b
ਅਗ 07, 2003
Priority Sector Lending- Special Programmes
Swarna Jayanti Shahari Rozgar Yojana (SJSRY)
Swarna Jayanti Shahari Rozgar Yojana (SJSRY)
Reserve Bank of IndiaRural Planning & Credit DepartmentCentral office, MumbaiRPCD.NO.SP.BC. 16/09.16.01/2003-04August 7, 2003The Chairman / Managing Director,All Scheduled Commercial Banks(Excluding RRBs)Dear Sir,Master CircularPriority Sector Lending- Special ProgrammesSwarna Jayanti Shahari Rozgar Yojana (SJSRY)Reserve Bank of India has, periodically, issued instructions/directives to banks with regard to operationalisation of the Swarna Jayanti Shahari Rozgar Y
Reserve Bank of IndiaRural Planning & Credit DepartmentCentral office, MumbaiRPCD.NO.SP.BC. 16/09.16.01/2003-04August 7, 2003The Chairman / Managing Director,All Scheduled Commercial Banks(Excluding RRBs)Dear Sir,Master CircularPriority Sector Lending- Special ProgrammesSwarna Jayanti Shahari Rozgar Yojana (SJSRY)Reserve Bank of India has, periodically, issued instructions/directives to banks with regard to operationalisation of the Swarna Jayanti Shahari Rozgar Y
ਅਗ 06, 2003
Guidelines for issuance of Commercial Paper (CP)
Ref. DBS.FID No. C-6/ 01.02.00/2003-2004August 6, 2003The CEOs of all India Term Lending & Refinancing Institutions.Dear Sir,Guidelines for issuance of Commercial Paper (CP)As you are aware, the detailed guidelines for issuance of Commercial Paper (CP) by, inter alia, the banks and all-India financial institutions have been issued vide RBI Circular No. IECD.2/08.15.01/2001-2002 dated July 23, 2001. In terms of para 18 of Annexure II to the circular, credit enhance
Ref. DBS.FID No. C-6/ 01.02.00/2003-2004August 6, 2003The CEOs of all India Term Lending & Refinancing Institutions.Dear Sir,Guidelines for issuance of Commercial Paper (CP)As you are aware, the detailed guidelines for issuance of Commercial Paper (CP) by, inter alia, the banks and all-India financial institutions have been issued vide RBI Circular No. IECD.2/08.15.01/2001-2002 dated July 23, 2001. In terms of para 18 of Annexure II to the circular, credit enhance
ਅਗ 01, 2003
Auction for Sale of Government Stock of 25 Years
Government of IndiaMinistry of Finance(Department of Economic Affairs)(Budget Division)New Delhi, the August 1, 2003 NOTIFICATIONAuction for Sale of Government Stock of 25 YearsF. No. 4(8)-W&M/2003(i): Government of India hereby notifies sale of Government Stock (securities) of 25-Year tenure for an aggregate amount of Rs. 3,000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’) as
Government of IndiaMinistry of Finance(Department of Economic Affairs)(Budget Division)New Delhi, the August 1, 2003 NOTIFICATIONAuction for Sale of Government Stock of 25 YearsF. No. 4(8)-W&M/2003(i): Government of India hereby notifies sale of Government Stock (securities) of 25-Year tenure for an aggregate amount of Rs. 3,000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’) as
ਅਗ 01, 2003
Auction for Sale of Government of India Floating Rate Bonds 2011
Government of IndiaMinistry of Finance(Department of Economic Affairs)(Budget Division)New Delhi, the August 1, 2003NOTIFICATIONAuction for Sale of Government of India Floating Rate Bonds 2011F.No.4(8) – W&M/2003: Government of India hereby notifies sale of Floating Rate Bonds ( hereinafter called 'the Bonds') of 8 year tenure for an aggregate amount of Rs 6,000 crore. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Spe
Government of IndiaMinistry of Finance(Department of Economic Affairs)(Budget Division)New Delhi, the August 1, 2003NOTIFICATIONAuction for Sale of Government of India Floating Rate Bonds 2011F.No.4(8) – W&M/2003: Government of India hereby notifies sale of Floating Rate Bonds ( hereinafter called 'the Bonds') of 8 year tenure for an aggregate amount of Rs 6,000 crore. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Spe
ਅਗ 01, 2003
Scheme for Non-competitive Bidding Facility in
the Auctions of Government Securities
the Auctions of Government Securities
Annexure II. Scope : With a view to encouraging wider participation and retail holding of Government securities it is proposed to allow participation on "non-competitive" basis in select auctions of dated Government of India securities. Accordingly, non-competitive bids up to 5 percent of the notified amount will be accepted in the auctions of dated securities. The reserved amount will be within the notified amount.II. Eligibility: Participation on a non-competitive b
Annexure II. Scope : With a view to encouraging wider participation and retail holding of Government securities it is proposed to allow participation on "non-competitive" basis in select auctions of dated Government of India securities. Accordingly, non-competitive bids up to 5 percent of the notified amount will be accepted in the auctions of dated securities. The reserved amount will be within the notified amount.II. Eligibility: Participation on a non-competitive b
ਅਗ 01, 2003
Amendments to NBFC Regulations -
Exposure to infrastructure facility
Exposure to infrastructure facility
Ref. DNBS. (PD). CC. No. 29 /02.01/2003-04August 1, 2003 To All Non-Banking Financial Companies including Residuary Non-Banking Companies Dear Sirs,Amendments to NBFC Regulations – Exposure to infrastructure facility There have been certain developments in the recent past in the prudential standards for the banking system pertaining to the period for which a non-performing asset remains a sub-standard asset or period after which a sub-standard asset would become a dou
Ref. DNBS. (PD). CC. No. 29 /02.01/2003-04August 1, 2003 To All Non-Banking Financial Companies including Residuary Non-Banking Companies Dear Sirs,Amendments to NBFC Regulations – Exposure to infrastructure facility There have been certain developments in the recent past in the prudential standards for the banking system pertaining to the period for which a non-performing asset remains a sub-standard asset or period after which a sub-standard asset would become a dou
ਅਗ 01, 2003
Auction for sale of Floating Rate Bonds, 2011 and Government Stock of 25 years
Ref.No.IDMD.482 /08.02.30.01/2003-04August 1, 2003All Scheduled Commercial Banks excluding RRBs/All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/All Primary Dealers in Government Securities Market.Dear Sirs,Auction for sale of Floating Rate Bonds, 2011 and Government Stock of 25 yearsGovernment of India have offered to sell "Floating Rate Bonds, 2011" vide Notification F.No.4 (8)-W&M/2003 dated August 1, 200
Ref.No.IDMD.482 /08.02.30.01/2003-04August 1, 2003All Scheduled Commercial Banks excluding RRBs/All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/All Primary Dealers in Government Securities Market.Dear Sirs,Auction for sale of Floating Rate Bonds, 2011 and Government Stock of 25 yearsGovernment of India have offered to sell "Floating Rate Bonds, 2011" vide Notification F.No.4 (8)-W&M/2003 dated August 1, 200
ਅਗ 01, 2003
Guidelines for Consolidated Accounting and Consolidated Supervision
Ref DBS.FID No. C-5 / 01.02.00/2002-03August 1, 2003The CEOs of the all-India term lending and refinancing institutionsDear Sir,Guidelines for Consolidated Accounting and Consolidated SupervisionPlease refer to our Circular DBS.FID No. C-7 / 01.02.00/2002-03 dated September 2, 2002 forwarding the draft guidelines for Consolidated Accounting and Consolidated Supervision of the FIs. In the light of the comments received, and the views expressed at the meeting held with
Ref DBS.FID No. C-5 / 01.02.00/2002-03August 1, 2003The CEOs of the all-India term lending and refinancing institutionsDear Sir,Guidelines for Consolidated Accounting and Consolidated SupervisionPlease refer to our Circular DBS.FID No. C-7 / 01.02.00/2002-03 dated September 2, 2002 forwarding the draft guidelines for Consolidated Accounting and Consolidated Supervision of the FIs. In the light of the comments received, and the views expressed at the meeting held with
ਜੁਲਾ 31, 2003
Amendment to RBI Regulations for NBFCs
Safe custody of liquid asset securities in an
exclusive demat account
Safe custody of liquid asset securities in an
exclusive demat account
DNBS (PD) C.C. No. 28 / 02.02 / 2002-03July 31 , 2003ToAll Non-Banking Financial Companies (including Residuary Non-Banking Companies)Dear Sirs,Amendment to RBI Regulations for NBFCsSafe custody of liquid asset securities in an exclusive demat accountKeeping in view certain developments and changes in market conditions, the Bank has decided to amend the regulatory framework for NBFCs relating to Non- Banking Financial Companies Acceptance of Public Deposits (Reserve B
DNBS (PD) C.C. No. 28 / 02.02 / 2002-03July 31 , 2003ToAll Non-Banking Financial Companies (including Residuary Non-Banking Companies)Dear Sirs,Amendment to RBI Regulations for NBFCsSafe custody of liquid asset securities in an exclusive demat accountKeeping in view certain developments and changes in market conditions, the Bank has decided to amend the regulatory framework for NBFCs relating to Non- Banking Financial Companies Acceptance of Public Deposits (Reserve B
ਜੁਲਾ 31, 2003
Notification No.DNBS.170/CGM (OPA)-2003 Dated July 31, 2003
Reserve Bank of IndiaDepartment of Non-Banking SupervisionCentral OfficeCentre 1, World Trade CentreCuffe Parade, ColabaMumbai 400 005NOTIFICATION NO.DNBS.170/CGM (OPA)-2003 dated July 31, 2003The Reserve Bank of India, having considered it necessary in the public interest and being satisfied that for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary so to do, in exercise of the powers conferred by Sections
Reserve Bank of IndiaDepartment of Non-Banking SupervisionCentral OfficeCentre 1, World Trade CentreCuffe Parade, ColabaMumbai 400 005NOTIFICATION NO.DNBS.170/CGM (OPA)-2003 dated July 31, 2003The Reserve Bank of India, having considered it necessary in the public interest and being satisfied that for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary so to do, in exercise of the powers conferred by Sections
ਜੁਲਾ 29, 2003
Wilful Defaulters and action thereagainst
DBOD. No. BC.DL. 7 /20.16.003/2003-04July 29, 2003All Scheduled Commercial BanksAll Notified All-India Financial Institutions Dear Sir,Wilful Defaulters and action thereagainstPlease refer to our Circulars DBOD.No.BC.DL(W) 12/20.16.002(1)/98-99 dated February 20, 1999 and DBOD.No.DL(W).BC 110/20.16.003/ 2001-02 dated May 30, 2002 on the above subject. It has been brought to our notice that banks/FIs do not have grievance redressal mechanism in respect of borrowers cla
DBOD. No. BC.DL. 7 /20.16.003/2003-04July 29, 2003All Scheduled Commercial BanksAll Notified All-India Financial Institutions Dear Sir,Wilful Defaulters and action thereagainstPlease refer to our Circulars DBOD.No.BC.DL(W) 12/20.16.002(1)/98-99 dated February 20, 1999 and DBOD.No.DL(W).BC 110/20.16.003/ 2001-02 dated May 30, 2002 on the above subject. It has been brought to our notice that banks/FIs do not have grievance redressal mechanism in respect of borrowers cla
ਜੁਲਾ 29, 2003
Asset Liability Management System - Submission of Reports to the RBI
Ref. DBS.FID No.C-4/ 01.02.00 / 2003- 04July 29, 2003The CEOs of all-India Term Lending and Refinancing InstitutionsDear Sir, Asset Liability Management System – Submission of Reports to the RBIPlease refer to our circular DBS.FID.No. C-11/01.02.00/1999-2000 dated December 31, 1999 in terms of which the ALM Guidelines for the FIs have been prescribed. In paragraph 6 of the circular it had been stated that in regard to furnishing of the data to RBI on an ongoing basis,
Ref. DBS.FID No.C-4/ 01.02.00 / 2003- 04July 29, 2003The CEOs of all-India Term Lending and Refinancing InstitutionsDear Sir, Asset Liability Management System – Submission of Reports to the RBIPlease refer to our circular DBS.FID.No. C-11/01.02.00/1999-2000 dated December 31, 1999 in terms of which the ALM Guidelines for the FIs have been prescribed. In paragraph 6 of the circular it had been stated that in regard to furnishing of the data to RBI on an ongoing basis,
ਜੁਲਾ 28, 2003
Nomination rules under Section 45QB of RBI Act for NBFC deposits
DNBS(PD)C.C.No. 27 /02.05/2003-04July 28, 2003ToAll Non-Banking Financial Companies(including Residuary Non-Banking Companies)Dear Sirs,Nomination rules under Section 45QB of RBI Act for NBFC depositsIn terms of Section 45QB of the RBI Act, the depositor/s of NBFCs may nominate, in the manner prescribed under the rules made by the Central Government under Section 45ZA of the Banking Regulation Act, 1949 (B.R.Act). one person to whom, in the event of death of the depos
DNBS(PD)C.C.No. 27 /02.05/2003-04July 28, 2003ToAll Non-Banking Financial Companies(including Residuary Non-Banking Companies)Dear Sirs,Nomination rules under Section 45QB of RBI Act for NBFC depositsIn terms of Section 45QB of the RBI Act, the depositor/s of NBFCs may nominate, in the manner prescribed under the rules made by the Central Government under Section 45ZA of the Banking Regulation Act, 1949 (B.R.Act). one person to whom, in the event of death of the depos
ਜੁਲਾ 23, 2003
Section 23 of Banking Regulation Act, 1949 -
Third party transfer of funds through ATMs
Third party transfer of funds through ATMs
DBOD.No.BL.BC 5/22.01.001/2003July 23, 2003.Shravana 01,1925(Saka)All Scheduled Commercial Banks (excluding RRBs and LABs)Dear SirSection 23 of Banking Regulation Act, 1949 – Third party transfer of funds through ATMs.Please refer to Para 12.3 of our master circular No. DBOD. BL.BC. 5/22.01.001/ 2002 dated July 18, 2002 on the functions that may be provided at Automated Teller Machines (ATMs) wherein it has been specified that inter account transfers should be restric
DBOD.No.BL.BC 5/22.01.001/2003July 23, 2003.Shravana 01,1925(Saka)All Scheduled Commercial Banks (excluding RRBs and LABs)Dear SirSection 23 of Banking Regulation Act, 1949 – Third party transfer of funds through ATMs.Please refer to Para 12.3 of our master circular No. DBOD. BL.BC. 5/22.01.001/ 2002 dated July 18, 2002 on the functions that may be provided at Automated Teller Machines (ATMs) wherein it has been specified that inter account transfers should be restric
ਜੁਲਾ 22, 2003
Opening of Extension Counters by Primary (Urban) Co-operative Banks
BL. NO. 5 /07.01.00/2003-0422 July 2003 All Primary (Urban) Co-operative BanksDear Sirs,Opening of Extension Counters by Primary (Urban) Co-operative BanksPlease refer to our circular BL.PCB.46/07.01.00/2000-01 dated April 26, 2001 and subsequent circulars issued on the above subject. The norms for opening of extension counters (ECs) by primary (urban) cooperative banks (UCBs) have been reviewed, in the light of representations received in this regard. Accordingly, th
BL. NO. 5 /07.01.00/2003-0422 July 2003 All Primary (Urban) Co-operative BanksDear Sirs,Opening of Extension Counters by Primary (Urban) Co-operative BanksPlease refer to our circular BL.PCB.46/07.01.00/2000-01 dated April 26, 2001 and subsequent circulars issued on the above subject. The norms for opening of extension counters (ECs) by primary (urban) cooperative banks (UCBs) have been reviewed, in the light of representations received in this regard. Accordingly, th
ਜੁਲਾ 19, 2003
Guidelines on netting off of old and small value entries - Clearing Differences
DBOD No. BP.BC. 4 /21.04.018/2003-04July 19, 2003All Scheduled Commercial Banks(Excluding RRBs and LABs)Dear Sir,Guidelines on netting off of old and small value entries - Clearing DifferencesAs you are aware, persistence of a large number of outstanding entries in the Clearing Adjustment Account has been a matter of concern to banks and the Reserve Bank of India. Banks have been advised, from time to time, to take corrective action for early adjustment of the pending
DBOD No. BP.BC. 4 /21.04.018/2003-04July 19, 2003All Scheduled Commercial Banks(Excluding RRBs and LABs)Dear Sir,Guidelines on netting off of old and small value entries - Clearing DifferencesAs you are aware, persistence of a large number of outstanding entries in the Clearing Adjustment Account has been a matter of concern to banks and the Reserve Bank of India. Banks have been advised, from time to time, to take corrective action for early adjustment of the pending
ਜੁਲਾ 17, 2003
Directive on Interest Rate on Deposits under Non-resident
(External) Rupee Account (NRE Accounts)
(External) Rupee Account (NRE Accounts)
RPCD.RF.DIR.BC.No.10/07.38.01/2003-04July 17, 2003Interest Rate on Deposits under Non-resident (External) Rupee Account (NRE Accounts)In exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949 and in modification of our Directive RPCD.RF.Dir. BC91A/07.38.01/2002-03 dated April 29, 2003 relating to interest rate on deposits accepted under Non-resident (External) Rupee Account Scheme, the Reserve Bank of India, being satisfied that it
RPCD.RF.DIR.BC.No.10/07.38.01/2003-04July 17, 2003Interest Rate on Deposits under Non-resident (External) Rupee Account (NRE Accounts)In exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949 and in modification of our Directive RPCD.RF.Dir. BC91A/07.38.01/2002-03 dated April 29, 2003 relating to interest rate on deposits accepted under Non-resident (External) Rupee Account Scheme, the Reserve Bank of India, being satisfied that it
ਜੁਲਾ 17, 2003
Circular on Interest Rate on Deposits under Non-Resident
(External) Rupee Accounts (NRE Accounts)
(External) Rupee Accounts (NRE Accounts)
DBOD. No. Dir. BC. 2/13.01.09/2003-04 July 17, 2003Aashadha 26, 1925(S)All Scheduled Commercial Banks(excluding RRBs and LABs)Dear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Monetary Policy Department’s Circular No.MPD.BC.237/ 07.01.279/2003-04 dated July 17, 2003 (copy attached) on the captioned subject. 2. An amending directive DBOD. No. Dir. BC.1/13.01.09/2003-04 dated July 17, 2003 is enclosed. It m
DBOD. No. Dir. BC. 2/13.01.09/2003-04 July 17, 2003Aashadha 26, 1925(S)All Scheduled Commercial Banks(excluding RRBs and LABs)Dear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Monetary Policy Department’s Circular No.MPD.BC.237/ 07.01.279/2003-04 dated July 17, 2003 (copy attached) on the captioned subject. 2. An amending directive DBOD. No. Dir. BC.1/13.01.09/2003-04 dated July 17, 2003 is enclosed. It m
ਜੁਲਾ 17, 2003
Directive on Interest Rate on Deposits under Non-resident
(External) Rupee Account (NRE Accounts)
(External) Rupee Account (NRE Accounts)
DBOD. No. Dir. BC. 1/13.01.09/2003-04July 17, 2003Interest Rate on Deposits under Non-resident (External) Rupee Account (NRE Accounts)In exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949 and in modification of Master Circular DBOD. No. Dir. BC.12/13.03.00/2002-03 dated July 31, 2002 relating to interest rate on deposits accepted under Non-resident (External) Rupee Account Scheme, the Reserve Bank of India, being satisfied that
DBOD. No. Dir. BC. 1/13.01.09/2003-04July 17, 2003Interest Rate on Deposits under Non-resident (External) Rupee Account (NRE Accounts)In exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949 and in modification of Master Circular DBOD. No. Dir. BC.12/13.03.00/2002-03 dated July 31, 2002 relating to interest rate on deposits accepted under Non-resident (External) Rupee Account Scheme, the Reserve Bank of India, being satisfied that
ਜੁਲਾ 17, 2003
Slippage of Non-performing assets - Preventive measures
Ref. DBS.FID No.C-3/ 01.02.00 / 2003- 04July 17, 2003The CEOs of the All-India Term-Lending and Refinancing InstitutionsDear Sir,Slippage of Non-performing assets – Preventive measuresPursuant to the directions of the Board for Financial Supervision, the RBI had constituted an In-House Group to identify and recommend the measures that could be instituted by the banks to prevent the slippage of the accounts in the ‘sub-standard category to the ‘doubtful’ category. Base
Ref. DBS.FID No.C-3/ 01.02.00 / 2003- 04July 17, 2003The CEOs of the All-India Term-Lending and Refinancing InstitutionsDear Sir,Slippage of Non-performing assets – Preventive measuresPursuant to the directions of the Board for Financial Supervision, the RBI had constituted an In-House Group to identify and recommend the measures that could be instituted by the banks to prevent the slippage of the accounts in the ‘sub-standard category to the ‘doubtful’ category. Base
ਜੁਲਾ 17, 2003
Circular on Interest Rate on Deposits under Non-Resident
(External) Rupee Accounts (NRE Accounts)
(External) Rupee Accounts (NRE Accounts)
RPCD.CO.RF.BC.No.9/07.38.01/2003-04July 17, 2003Aashadha 26, 1925(Saka) ToAll State Co-operative Banks and DistrictCentral Co-operative BanksDear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular RPCD.RF.BC.No.91B/07.38.01/2002-03 dated April 29, 2003 advising, inter alia, uniformity in the maturity structure for all types of repatriable deposits whether in foreign currency or in rupees. 2. At present
RPCD.CO.RF.BC.No.9/07.38.01/2003-04July 17, 2003Aashadha 26, 1925(Saka) ToAll State Co-operative Banks and DistrictCentral Co-operative BanksDear Sir,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular RPCD.RF.BC.No.91B/07.38.01/2002-03 dated April 29, 2003 advising, inter alia, uniformity in the maturity structure for all types of repatriable deposits whether in foreign currency or in rupees. 2. At present
ਜੁਲਾ 17, 2003
Prudential norms for classification, valuation and operation of investment portfolio by banks
DBOD. BP.BC. 3 / 21.04.141/ 2003- 200417 July 2003All Scheduled Commercial Banks (excluding RRBs & LABs)Dear Sir/ Madam, Prudential norms for classification, valuation andoperation of investment portfolio by banksAs you are aware, the Government of India had announced the proposal to offer buyback of illiquid securities from banks on a voluntary basis, in its budget proposals for 2003-2004. It was also indicated that if the banks declare the premium received under
DBOD. BP.BC. 3 / 21.04.141/ 2003- 200417 July 2003All Scheduled Commercial Banks (excluding RRBs & LABs)Dear Sir/ Madam, Prudential norms for classification, valuation andoperation of investment portfolio by banksAs you are aware, the Government of India had announced the proposal to offer buyback of illiquid securities from banks on a voluntary basis, in its budget proposals for 2003-2004. It was also indicated that if the banks declare the premium received under
ਜੁਲਾ 17, 2003
Interest Rate on Deposits under Non-Resident
(External) Rupee Accounts (NRE Accounts)
(External) Rupee Accounts (NRE Accounts)
Ref.No.MPD.BC.237/07.01.279/2003-04July 17, 2003Aashadha 26, 1925(S)ToAll Scheduled Commercial Banks(excluding RRBs and LABs)Dear Sirs,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular DBOD.No.Dir.BC.102/13.01.09/2002-03 dated April 29, 2003 on the captioned subject. 2. At present, banks can offer FCNR(B) deposits in foreign currency and non-resident external (NRE) deposits in domestic currency to non-res
Ref.No.MPD.BC.237/07.01.279/2003-04July 17, 2003Aashadha 26, 1925(S)ToAll Scheduled Commercial Banks(excluding RRBs and LABs)Dear Sirs,Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)Please refer to our Circular DBOD.No.Dir.BC.102/13.01.09/2002-03 dated April 29, 2003 on the captioned subject. 2. At present, banks can offer FCNR(B) deposits in foreign currency and non-resident external (NRE) deposits in domestic currency to non-res
ਜੁਲਾ 08, 2003
Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities
ANNEX I. Scope : With a view to encouraging wider participation and retail holding of Government securities it is proposed to allow participation on "non-competitive" basis in select auctions of dated Government of India securities. Accordingly, non-competitive bids up to 5 percent of the notified amount will be accepted in the auctions of dated securities. The reserved amount will be within the notified amount.II. Eligibility: Participation on a non-competitive basis
ANNEX I. Scope : With a view to encouraging wider participation and retail holding of Government securities it is proposed to allow participation on "non-competitive" basis in select auctions of dated Government of India securities. Accordingly, non-competitive bids up to 5 percent of the notified amount will be accepted in the auctions of dated securities. The reserved amount will be within the notified amount.II. Eligibility: Participation on a non-competitive basis
ਜੁਲਾ 08, 2003
Auction for Sale (Re-issue ) of ‘7.95 per cent Government Stock, 2032’
GOVERNMENT OF INDIAMINISTRY OF FINANCE(Department of Economic Affairs)(Budget Division)New Delhi, the July 8, 2003NOTIFICATIONAuction for Sale (Re-issue ) of ‘7.95 per cent Government Stock, 2032’No.4(8)-W&M/2003(i) : Government of India hereby notifies sale (reissue) of ‘7.95 per cent Government Stock, 2032’ for an aggregate amount of Rs. 3,000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific N
GOVERNMENT OF INDIAMINISTRY OF FINANCE(Department of Economic Affairs)(Budget Division)New Delhi, the July 8, 2003NOTIFICATIONAuction for Sale (Re-issue ) of ‘7.95 per cent Government Stock, 2032’No.4(8)-W&M/2003(i) : Government of India hereby notifies sale (reissue) of ‘7.95 per cent Government Stock, 2032’ for an aggregate amount of Rs. 3,000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific N
ਜੁਲਾ 08, 2003
Swarnjayanti Gram Swarozgar Yojana (SGSY) - Quick Study on Gap Between Sanction and Disbursement of Loans Under SGSY
RPCD.SP.BC. 06 /09.01.01/2003-04July 8, 2003The Chairman and Managing DirectorAll Scheduled Commercial Banks(Except RRBs)Dear Sir,Swarnjayanti Gram Swarozgar Yojana (SGSY) - Quick study on gap between sanction and disbursement of loans under SGSYIn the meeting on credit related issues under SGSY held under the Chairmanship of Secretary, Banking, at the Banking Division, Ministry of Finance, Government of India, New Delhi on February 21, 2003, the issue of inordinate d
RPCD.SP.BC. 06 /09.01.01/2003-04July 8, 2003The Chairman and Managing DirectorAll Scheduled Commercial Banks(Except RRBs)Dear Sir,Swarnjayanti Gram Swarozgar Yojana (SGSY) - Quick study on gap between sanction and disbursement of loans under SGSYIn the meeting on credit related issues under SGSY held under the Chairmanship of Secretary, Banking, at the Banking Division, Ministry of Finance, Government of India, New Delhi on February 21, 2003, the issue of inordinate d
ਜੁਲਾ 08, 2003
Auction of Government of India Dated Securities
Ref.No. IDMD. 139 /08.02.31.01/2003-04July 8,, 2003All Scheduled Commercial Banks excluding RRBs/All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/All Primary Dealers Dear Sirs,Auction of Government of India Dated Securities Government of India have offered to sale (re-issue) of "6.35 percent Government Stock 2020" for a notified amount of Rs.6,000 crore (nominal) through a price based auction using multiple pric
Ref.No. IDMD. 139 /08.02.31.01/2003-04July 8,, 2003All Scheduled Commercial Banks excluding RRBs/All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/All Primary Dealers Dear Sirs,Auction of Government of India Dated Securities Government of India have offered to sale (re-issue) of "6.35 percent Government Stock 2020" for a notified amount of Rs.6,000 crore (nominal) through a price based auction using multiple pric
ਜੁਲਾ 08, 2003
Auction for Sale (Re-issue ) of ‘6.35 per cent Government Stock, 2020’
Government of IndiaMinistry of Finance(Department of Economic Affairs)(Budget Division)New Delhi, the July 8, 2003NOTIFICATIONAuction for Sale (Re-issue ) of ‘6.35 per cent Government Stock, 2020’No.4(8)-W&M/2003 : Government of India hereby notifies sale (reissue) of ‘6.35 per cent Government Stock, 2020’ for an aggregate amount of Rs. 6,000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Noti
Government of IndiaMinistry of Finance(Department of Economic Affairs)(Budget Division)New Delhi, the July 8, 2003NOTIFICATIONAuction for Sale (Re-issue ) of ‘6.35 per cent Government Stock, 2020’No.4(8)-W&M/2003 : Government of India hereby notifies sale (reissue) of ‘6.35 per cent Government Stock, 2020’ for an aggregate amount of Rs. 6,000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Noti
ਜੁਲਾ 08, 2003
Foreign Exchange Management (Remittance of Assets) (Second Amendment) Regulations, 2003
RESERVE BANK OF INDIA EXCHANGE CONTROL DEPARTMENT CENTRAL OFFICE MUMBAI- 400 001. Notification No. FEMA. 97 /2003-RB dated July 8, 2003 Foreign Exchange Management (Remittance of Assets) (Second Amendment) Regulations, 2003 In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of Notification No. FEMA.13/2000-RB dated 3rd May 2000 and Notification No. FEMA 62/2002-RB dated 13th May 2002,
RESERVE BANK OF INDIA EXCHANGE CONTROL DEPARTMENT CENTRAL OFFICE MUMBAI- 400 001. Notification No. FEMA. 97 /2003-RB dated July 8, 2003 Foreign Exchange Management (Remittance of Assets) (Second Amendment) Regulations, 2003 In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of Notification No. FEMA.13/2000-RB dated 3rd May 2000 and Notification No. FEMA 62/2002-RB dated 13th May 2002,
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