Compliance Function and Role of Chief Compliance Officer (CCO)- Urban Co-operative Banks
As part of the overall structure for Corporate Governance, the Compliance Function serves a critical role. Therefore, it has been decided to introduce certain principles, standards and procedures for Compliance…
Rupee Drawing Arrangement – Enabling Bharat Bill Payment System (BBPS) to process cross border inbound Bill Payments
September 15, 2022 ToAll Category-I Authorised Dealer BanksMadam/Sir, Please refer to A.P. (DIR Series) Circular No. 120 dated April 10, 2014 on ‘Rupee DrawingArrangement – Direct to Account Facility’, in…
Review of Prudential Norms – Risk Weights for Exposures guaranteed by Credit Guarantee Schemes (CGS)
September 07, 2022 All Scheduled Commercial Banks (including Regional Rural Banks)All Primary (Urban) Co-operative BanksAll Non-Banking Financial Companies (including Housing Finance Companies)All All-India Financial Institutions Dear Sir/ Madam, Please refer…
Incentive for improving service to non-chest branches
September 06, 2022 The Chairman & Managing DirectorManaging Director/ Chief Executive OfficerAll Banks having Currency Chests Madam/ Sir, Please refer to circulars RBI/ 2015-16/ 293 DCM (NPD) No. 2564/ 09.40.02/…
Guidelines on Digital Lending
A reference is invited to para 7 of the RBI Press Release “Recommendations of the Working Group on Digital Lending – Implementation” dated August 10, 2022. Detailed guidelines on recommendations…
Section 23 of the Banking Regulation Act, 1949 – Branch Authorisation Policy – Left Wing Extremism affected districts – Revised List
August 22, 2022 All Domestic Scheduled Commercial Banks(excluding Regional Rural Banks, Payments Banks and Local Area Banks) Madam/Dear Sir, Please refer to our circular on ‘Rationalisation of Branch Authorisation Policy-Revision…
Foreign Exchange Management (Overseas Investment) Directions, 2022
August 22, 2022 All Category – I Authorised Dealer BanksMadam/Sir 1. Overseas investments by persons resident in India enhance the scale and scope of businessoperations of Indian entrepreneurs by providing…
Foreign Exchange Management (Overseas Investment) Regulations, 2022
August 22, 2022 In exercise of the powers conferred by sub-section (1) and clause (a) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of…
Outsourcing of Financial Services – Responsibilities of regulated entities employing Recovery Agents
August 12, 2022 Madam/ Sir, The Reserve Bank of India has from time to time advised regulated entities (REs) that the ultimate responsibility for their outsourced activities vests with them…
Master Circular on Credit Facilities to Minority Communities
August 2, 2022 The Chairman/Managing Director/Chief Executive OfficerAll Scheduled Commercial Banks (excluding RRBs and Foreign Banks with less than 20 branches) Madam/ Dear Sir, The Reserve Bank of India has…