Date : Jun 23, 2017 RBI amends Banking Ombudsman Scheme: Includes Complaints relating to Misselling and Mobile/ Electronic Banking The Reserve Bank of India has widened the scope of its Banking Ombudsman Scheme 2006, to include, inter alia, deficiencies arising out of sale of insurance/ mutual fund/ other third party investment products by banks. Under…

Date : Jun 23, 2017 RBI to conduct 7 day, 14 day and 28 day Variable rate Reverse Repo auctions under LAF on June 27, 2017 The Reserve Bank of India will conduct the following Variable rate Reverse Repo auctions on June 27, 2017, Tuesday, as per the revised guidelines on Term Repo Auctions issued…

Date : Jun 24, 2017 RBI releases Handbook of Statistics on Indian States 2016-17 Today, the Reserve Bank of India released the second edition of its statistical publication titled “Handbook of Statistics on Indian States 2016-17”. Through this publication, the Reserve Bank has been disseminating wide-ranging data on the regional economy of India. This publication…

Date: Jun 27, 2017 Money Market Operations as on June 23, 2017 (Amount in ₹ billion, Rate in Per cent) MONEY MARKETS @ Volume Wtd.Avg.Rate Range (One Leg) A. Overnight Segment (I+II+III+IV) 1,816.87 6.05 5.00-8.25      I. Call Money 234.58 6.08 5.00-6.25      II. CBLO 642.36 5.87 5.30-6.50      III. Market Repo 939.50 6.17 5.00-6.30      IV. Repo in…

The result of the RBI Fixed Rate Reverse Repo Operations held on June 23, 2017 is as under: Amount (face value in ₹ Billion) Items 4 day Reverse Repo Auction 6.00% Fixed Rate 1. Bids received (i) Number 86 (ii) Amount 392.23 2. Bids accepted (i) Number 86 (ii) Amount 392.23 Ajit Prasad Assistant Adviser…

RBI/2016-17/325 DBR.No.Ret.BC.75/12.07.150/2016-17 June 22, 2017 All Scheduled Commercial Banks Dear Sir, Exclusion of “The Royal Bank of Scotland N.V.” from the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the “The Royal Bank of Scotland N.V.” has been excluded from the Second Schedule to the Reserve Bank of India Act,…

RBI/2016-17/326 DBR.No.Leg.BC.76/09.07.005/2016-17 June 22, 2017 All Scheduled Commercial Banks (including RRBs) All Small Finance Banks and Payments Banks Dear Sir/ Madam, Recording of Details of Transactions in Passbook/ Statement of Account Please refer to instructions contained in Paragraphs 6 and 7 of our circular DBOD.No.Leg.BC.74/09.07.005/2003-04 dated April 10, 2004 on “Committee on Procedures and Performance…

RBI/2016-17/327 DGBA.GBD.No.3333/31.02.007/2016-17 June 22, 2017 All Agency Banks Dear Sir / Madam Payment of agency commission for government receipts Please refer to Circular No. DGBA.GAD.7575/31.12.011/2011-12 dated May 22, 2012 regarding the rationalisation and revision of agency commission payable to agency banks on government transactions undertaken by them. 2. As you are aware, the agency commission…

In exercise of the powers conferred by sub-section (1) of Section 11 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017), the Central Government hereby makes the following rules, namely:— Short title and commencement.—(1) These rules may be called the Specified Bank Notes (Deposit by Banks, Post Offices and District Central…

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 20th June, 2017 G.S.R. 611(E).—In exercise of the powers conferred by sub-section (1) of Section 11 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017), the Central Government hereby makes the following rules, namely:— Short title and commencement.—(1) These rules…

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