Sr No

Date

Circular No

Description

1

25.10.2023

RBI/2023-24/70
DOR.HGG.GOV.REC.46/29.67.001/2023-24

Appointment of Whole-Time Director(s)- Banks are advised to have at least two WTDs, including MD&CEO, on their boards. Those not meeting the minimum requirement should submit proposals within 4 months from the date of issuance of this circular. Those banks which do not already have the enabling provisions regarding appointment of WTDs in their Articles of Association may first seek necessary approvals under Section 35B(1)(a).

2

25.10.2023

RBI/2023-24/71
DOR.ACC.47/21.04.018/2023-24

Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021: Presentation of unclaimed liabilities transferred to Depositor Education and Awareness (DEA) Fund
Co-operative banks are advised to present all unclaimed liabilities under “Contingent Liabilities – Others” or “Schedule 12 - Contingent Liabilities - Other items for which the bank is contingently liable”, applicable from FY ending 31.03.2024

3

26.10.2023

RBI/2023-24/73
DoR.FIN.REC.49/20.16.003/2023-24

Strengthening of customer service rendered by Credit Information Companies (CIC) and Credit Institutions (CI)- Directions issued by RBI which shall come into effect within 6 months from the date of this circular which includes-Intimation of access to Credit Information Report and updation of credit information with Credit Information Companies, Setting up of Nodal points/ officials by CIs, Root Cause Analysis of the Complaints by CIs, Reasoning of rejection, Periodic review of match logic algorithm, Data Ingestion and disclosures.

4

26.10.2023

RBI/2023-24/72
DoR.FIN.REC.48/20.16.003/2023-24

Framework for compensation to customers for delayed updation/ rectification of credit information- Compensation of Rs. 100 per calendar day for unresolved complaints within 30 days of filing from the date of the initial filing of the complaint by the complainant with a CI/ CIC. If CIs or CICs fail to update data or respond within 21 and 30 days, complainants can approach RBI Ombudsman in case of wrongful denial of compensation by CIs or CICs.

5

26.10.2023

RBI/2023-24/74
DOR.SPE. REC. No 51/13.03.000/2023-24

Amendment in Non-Callable Deposits - Master Direction on Interest Rate on Deposits
(i) the minimum amount for offering non-callable TDs increased from Rs. 50 Lakhs to Rs. 1 crores i.e., all domestic term deposits accepted from individuals for amount of Rs. 1 crs & below shall have premature-withdrawal-facility & these instructions shall also be applicable for Non-Resident (External) Rupee (NRE) Deposit / Ordinary Non-Resident (NRO) Deposits.

6

26.10.2023

RBI/2023-24/75
DoR.SPE.REC.50/13.03.00/2023-2024

Review of Instructions on Bulk Deposits for Regional Rural Banks (RRBs)
RBI has enhanced the bulk deposit limit for RRBs, “Bulk Deposit” would now mean Single Rupee term deposits of Rupees 1 crore & above.

7

26.10.2023

RBI/2023-24/76
DoR.FIN.REC.52/03.10.123/2023-24

Review of Financial Information Provider (FIP) under Account Aggregator Framework
Modification in Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016. It has been decided to replace ‘Pension Fund’ with ‘Central Recordkeeping Agency’ as the financial information provider in the AA ecosystem.

8

30.10.2023

RBI/2023-24/78
DoR.REG/LIC.No.54/19.51.052/2023-24

Clarification regarding Shifting of Branches/Offices/Extension Counters within the same city, town or village by District Central Co-operative Banks (DCCBs) includes- decision shall be taken by board, approval from Registrar of societies, intimation to customer 2 month advance and submission of report & branch license to RBI.
Guidelines on Closure of Branches and Extension Counters by DCCBs- decision by board, approval from Registrar of societies, press release in newspaper in advance, return of original license and reporting to NABARD & RCS.

9

30.10.2023

RBI/2023-24/79
DoR.REG/LIC.No.55/07.01.000/2023-24

Banking Regulation (Amendment) Act 2020 - Change in Name of Co-operative Banks

10

31.10.2023

RBI/2023-24/80
CO.DPSS.POLC.No.S-786/02-14-008/2023-24

Regulation of Payment Aggregator – Cross Border (PA - Cross Border)

11

07.11.2023

RBI/2023-24/107
DoS.CO.CSITEG/SEC.7/31.01.015/2023-24

Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices

12

08.11.2023

RBI/2023-24/81
FMRD.FMID.No. 04/14.01.006/2023-24

‘Fully Accessible Route’ for Investment by Non-residents in Government Securities – Inclusion of Sovereign Green Bonds

13

10.11.2023

RBI/2023-24/82
FIDD.CO.LBS.BC. No.11/02.08.001/2023-24

Formation of 19 new districts in the State of Rajasthan – Assignment of Lead Bank Responsibility vide Gazette Notifications No.9 (18) Raj-1/2022 (1-14) dated August 5, 2023 (effective from August 7, 2023).

14

10.11.2023

RBI/2023-2024/83
A.P. (DIR Series) Circular No. 07

Guidelines on import of silver by Qualified Jewellers as notified by – The International Financial Services Centres Authority (IFSCA). AD Category-I banks may allow Qualified Jewellers to remit advance payment for 11 days for import of silver through IIBX.

15

15.11.2023

RBI/2023-2024/84
DOR.AML.REC.56/14.06.001/2023-24

Implementation of Section 51A of UAPA,1967: Updates to UNSC’s 1267/1989 ISIL (Da’esh) & Al-Qaida Sanctions List: Amendments in 05 Entries- 4 Individual namely 147 - Mohamed Amin Mostafa; 289 - Said Jan ‘Abd Al-Salam; 316 - Iyad Ag Ghali ; &317 - Abu Mohammed Al-Jawlan and 1 Entity namely 12 - Makhtab Al-Khidamat.

16

16.11.2023

RBI/2023-24/85
DOR.STR.REC.57/21.06.001/2023-24

Regulatory measures towards consumer credit and bank credit to NBFCs Increase the risk weights in respect of consumer credit exposure of commercial banks and NBFC (outstanding as well as new), including personal loans, but excluding housing, education, vehicle and secured by gold and gold jewellery loans, by 25% points to 125%. Increase risk weights on credit card receivables by 25% points to 150% and 125% for SCBs and NBFCs respectively. Increase the risk weights on such exposures of SCBs by 25 percentage points in all cases where the extant risk weight as per external rating of NBFCs is below 100%.

17

17.11.2023

RBI/2023-2024/86
FED Circular No.08

International Trade Settlement in Indian Rupees (INR) – Opening of additional Current Account for exports proceeds
AD Category-I banks maintaining Special Rupee Vostro Account as per the provisions of the Reserve Bank circular dated July 11, 2022 referred above are permitted to open an additional special current account for its exporter constituent exclusively for settlement of their export transactions.