REGULATING COMMERCIAL BANKING

Banks are fundamental to the nation's financial system. The central bank has a critical role to play in ensuring the safety and soundness of the banking system-and in maintaining financial stability and public confidence in this system.

Information pertaining to Department of Regulation (For Commercial Banks and RRBs)


Sr. No. Query Reply Date of Reply
1 Which are the KYC documents required to open a bank account? Please refer to Master Direction on Know Your Customer (KYC), dated February 25, 2016, as amended on August 09, 2019, which is available on www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
2 Is Aadhaar mandatory for opening a bank account?
3 The address on my identity document is not the current address. What are the instructions regarding current address for bank accounts?
4 I have already undertaken KYC while opening bank account a few years ago. Why banks are still insisting for re-KYC?
5 What are the duties and responsibilities of a bank to maintain secrecy of customers bank accounts and its transactions?
6 If a person does not have an account in a bank, whether KYC is required for transactions amounting rupees 50,000 and above?
7 Which banks/ financial institutions come under the purview of KYC guidelines stipulated by Reserve Bank of India?
8 I want to open a joint account in a bank. Whether KYC is required to be done for the first account holder only or for all the account holders?
9 Which KYC documents are required to open a bank account in case of proprietorship firms, companies, partnership firms, trusts?
10 What is the time limit for payment of cheques / drafts /pay orders / banker’s cheques issued by the banks. Please refer to Master Direction on Know Your Customer (KYC), dated February 25, 2016, as amended on August 09, 2019, which is available on www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
11 Please inform whether RBI has appointed the Chairmen / Managing Directors of private sector as well as public sector banks in India. The names of Chairmen / Managing Directors of the banks may be furnished. (i) In terms of extant statutory provisions and guidelines, the part-time Chairman, and Managing Director & CEOs of public sector banks are appointed by the Central Government after consultation with the Reserve Bank. Thereafter, Government of India notifies these appointments on the Official Gazette of India.

(ii) As regards the private sector banks, the banks are appointing their part-time Chairman, and Managing Director with the previous approval of the Reserve Bank. Thereafter, banks notify their appointments.

Further, these appointments do not require any notification to be issued by the Reserve Bank.
Nov 05, 2019
12 Information on

(1) opening of bank branches, (2) branch opened by bank (3) procedures of identifying a centre and opening of branch there (4) copy of permission/ licence given by RBI
Please refer to guidelines regarding opening of new branches issued vide circular DBR.No.BAPD.BC.69/ 22.01.001/2016-17 dated May 18, 2017.

Regarding Small Finance Banks (SFBs) and Payments Banks (PBs), kindly refer to our above mentioned circular dated May 18, 2017, Licensing Guidelines for SFBs dated November 27, 2014, Operating Guidelines for SFBs dated October 06, 2016 and Operating Guidelines for PBs dated October 06, 2016.

The above circular, Licensing Guidelines and Operating Guidelines are available on our web site www.rbi.org.in under “Notification” menu.
Nov 05, 2019
13 Information on

(1) leasing of premises for bank branches/ATMs (2) rental rates/ specifications approved by RBI (3) payment or non-payment of rentals and other disputes thereon (4) copy of lease rental agreement (5) identifying and acquiring/leasing of premises for opening a bank branch
Please refer to Master Circular DBOD. No. BAPD.BC.7/22.01.001/2014-15 dated July 1, 2014 read with circular DBR.No.BAPD.BC.92/22.01.003/2014-15 dated April 30, 2015.

The above-mentioned circulars are available on our website www.rbi.org.in under “Notifications” link.
Nov 05, 2019
14 Information on

(1) engaging of Business Correspondents (BCs)/Bank Mitras by banks (2) terms of appointment/ retrenchment / renewal of appointment/ remuneration/commission rates, eligibility criteria, activities, etc. for BCs
Please refer to Master Circular on Branch Authorization, DBOD.No.BAPD.BC.7/22.01.001/2014-15 dated July 01, 2014, available on our web-site www.rbi.org.in by “Notification” link. Nov 05, 2019
15 What is the provision for installing/opening of ATM? Please refer to circular DBR.No.BAPD.BC.69/22.01.001/2016-17 dated May 18, 2017 (read with para 4 of our Master Circular DBOD.No.BAPD.BC.7/ 22.01.001/2014-15 dated July 1, 2014 and also our circular DBR.NO.BAPD.BC.72/22.01.001/2015-16 dated January 14, 2016).

The above circulars are available on our web site www.rbi.org.in under “Notification” menu.
Nov 05, 2019
16 Information related to security guards in ATMs Please refer to circular DBR.No. BAPD.BC.69/22.01.001/ 2016-17 dated May 18, 2017.

The above circular is available on our web site www.rbi.org.in under “Notification” menu.
Nov 05, 2019
17 I have taken Credit Information Report (CIR) from Credit Information Companies (CICs) viz: TUCIBIL/Experian/Equifax/ CRIF HIGH Mark as the case may be. It is observed that there are many errors appearing in my Credit Information Report (CIR). Please rectify the same/How can I rectify the same? Complaint Redressal does not come under the purview of RTI Act. We therefore, advise you to contact TUCIBIL/Experian/Equifax/ CRIF HIGH Mark as the case may be. The addresses are as under:

TransUnion CIBIL Limited
One Indiabulls, Tower 2A-2B,
Unit No 1901, 19th Floor,
Jupiter Mill Compound,
Senapati Bapat Marg,
Lower Parel,
Mumbai – 400 013
Tel:+91 - 22 - 6638 4600

Alternatively, you may raise your complaint by using the following link: https://www.cibil.com/consumer-dispute-resolution

Experian Credit Information Company of India Private Limited
Equinox Business Park
5th Floor, East Wing
Tower 3, LBS Marg,
Kurla (W)
Mumbai 400 070

Consumer may contact ECICI Consumer Support in one of the following ways:
Phone – 022-66419000 between 9.30 am to 6.30 pm from Monday to Friday
Email – Send an email to consumer.support@in.experian.com
Experian website – www.experian.in
Post – Letters can be sent to PO Box 9096, Goregaon (E), Mumbai – 400063

Please refer to the link below:
http://www.experian.in/addressing-your-queries-disputes
Equifax Credit Information Services Private Limited,
Unit No. 931, 3rd floor, Building no. 9,
Solitaire Corporate Park,
Andheri Ghatkopar Link Road,
Andheri East
Mumbai – 400093
Tel No: +91- 22- 6112 7999

Alternatively, you may raise your complaint by using the following link
https://www.equifax.co.in/consumer/forms/dispute_resolution/en_in

For online dispute, please use the below mentioned link
https://eport.equifax.co.in/eport/dispute.jsp

CRIF High Mark
FOF B-04,05,06
4th floor, Art Guild House
Phoenix Market City, L.B.S. Marg
Kurla (West)
Mumbai- 400 070
Tel No - +91-22-71712900
Alternatively, you may raise your complaint by using the following link:
https://www.crifhighmark.com/support-desk/
Nov 05, 2019
18 What is the statute under which Credit Information Companies (CICs) including CIBIL (Credit Information Bureau Limited) are set up? Please refer to section 5 of the Credit Information Companies (Regulations) Act 2005 (CICRA) and the Rules and Regulations framed there under the Act, granted Certificate of Registration to four Credit Information Companies (CICs). Credit Information Companies (Regulations) Act 2005 (CICRA) is available in public domain. Nov 05, 2019
19 What are the duties and responsibilities of the Credit Information companies (CICs) as set forth by the RBI? The duties and responsibilities CICs are mentioned at Section 17, 19, 20 and 22 of Credit Information Companies (Regulations) Act 2005 (CICRA), Credit Information Companies Rules 24, 25, 26, 28 and 29 and Regulation 7, 10. Nov 05, 2019
20 Has RBI issued instructions to banks/FIs/NBFCs to access credit information reports for loan disbursals? Please refer to circular DBOD.No.CID.BC.127/20.16.056/2013-14 dated June 27, 2014, available on website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
21 What are the steps taken against wilful defaulters by RBI? Please refer to Master circular on Wilful Defaulters dated July 1, 2015, available on website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
22 Information about Deposit Education and Awareness Fund Scheme, 2014. Please refer to Depositor Education and Awareness Fund Scheme, 2014 (Scheme), dated March 21, 2014 available on website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
23 What is the arrangement to administer and manage the Depositor Education and awareness Fund? Please refer to Depositor Education and Awareness Fund Scheme, 2014 (Scheme), dated March 21, 2014 available on website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
24 How is the fund utilised? Nov 05, 2019
25 What are the interest rates as set by the Reserve Bank of India for various categories of loans? Please refer to Master Direction - Reserve Bank of India (Interest Rate on Advances) Directions, 2016 issued vide DBR.Dir.No.85/13.03.00/2015-16 dated March 3, 2016, which is available on our website www.rbi.org.in under the head ‘Notifications’. Nov 05, 2019
26 What are the interest rate on term deposits of various maturities as per the RBI Guidelines? Please refer to Master Direction on ‘Interest Rate on Deposits’ issued vide DBR.Dir.No.84/13.03.00/2015-16 dated March 3, 2016, which is available on our website www.rbi.org.in under the head ‘Notifications’. Nov 05, 2019
27 Whether there is any provision in the bank for giving more interest on the money deposited by senior citizen?
28 What is the eligibility criteria and documents required to get a loan from a public or private bank? What are the RBI guidelines for availing loan from a bank? Please refer to Master Circular on “Loans and Advances – Statutory and Other Restrictions” issued vide DBR.No.Dir.BC.10/13.03.00/2015-16 dated July 1, 2015, which is available on our website www.rbi.org.in under the head ‘Notifications’.

Further, banks have been advised to consider exposure limits to individual/ group borrowers, documentation standards, margin, security, sectoral exposure limits, delegation of powers, maturity and pricing policies, factors taken into consideration for deciding interest rates etc., while sanctioning advances.
Nov 05, 2019
29 Has RBI prescribed the charges for the various services provided by banks? Please refer to Master Circular on ‘Customer Service in Banks’ issued vide DBR.No.Leg.BC.21/ 09.07.006/2015-16 dated July 1, 2015, which is available on our website www.rbi.org.in under the head ‘Notifications’. Nov 05, 2019
30 Does the bank have the right to levy foreclosure charges/ pre-payment penalty on the individual borrowers? Please refer to Master Circular on ‘Customer Service in Banks’ issued vide DBR.No.Leg.BC.21/ 09.07.006/2015-16 dated July 1, 2015, which is available on our website www.rbi.org.in under the head ‘Notifications’.

Also, refer to circular on ‘Levy of Foreclosure Charges/ Prepayment penalty on Floating Rate Term Loans’ issued vide DBR.Dir.BC.No.08/13.03.00/2019-20 dated August 02, 2019, which is available on our website www.rbi.org.in under the head ‘Notifications’.
Nov 05, 2019
31 What is the definition of ‘individual’ as applicable to RBI instructions? Please refer to Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 issued vide DBR. Dir. No.84/13.03.00/2015-16 dated March 3, 2016, which is available on our website www.rbi.org.in under the head ‘Notifications’. Nov 05, 2019
32 Most of the banks ask their customers to maintain some amount as Minimum balance/ Average Minimum Balance. Please provide the instructions issued by RBI in this regard. Please refer to Master Circular on ‘Customer Service in Banks’ issued vide DBR.No.Leg.BC.21/09.07.006/2015-16 dated July 1, 2015, which is available on our website www.rbi.org.in under the head ‘Notifications’. Nov 05, 2019
33 As per the RBI rules, whether banks are supposed to deduct the charges for Non maintenance of minimum balance from Account holder. If yes, please provide a copy of the rules.
34 What are charges for SMS alert facility? Please refer to Master Circular on ‘Customer Service in Banks’ issued vide DBR. No. Leg.BC.21/09.07.006/2015-16 dated July 1, 2015, which is available on our website www.rbi.org.in under the head ‘Notifications’. Nov 05, 2019
35 Can I withdraw my fixed deposit prematurely? Please refer to Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 issued vide DBR.Dir.No.84/ 13.03.00/2015-16 dated March 3, 2016.

The above circular is available on our website www.rbi.org.in under the head ‘Notifications’.
Nov 05, 2019
36 What all entities are eligible to open a Savings Bank Account?
37 What is the rate of interest to which a depositor is entitled for such intervening periods after date of maturity till the date of renewal?
38 Whether there is any provision which allows bank to give more interest on the money deposited by its own employees?
39 What is the penal rate of interest prescribed by RBI? Please refer to Master Direction - Reserve Bank of India (Interest Rate on Advances) Directions, 2016 issued vide DBR.Dir.No.85/13.03.00/2015-16 dated March 3, 2016, which is available on our website www.rbi.org.in under the head ‘Notifications’. Nov 05, 2019
40 How is the Savings Bank account interest calculated? Please refer to Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 issued vide DBR.Dir.No.84/13.03.00/2015-16 dated March 3, 2016 which is available on our website www.rbi.org.in under the head ‘Notifications’. Nov 05, 2019
41 What is the procedure of the disbursal of a housing loan? Please refer to Master Circular on “Housing Finance” issued vide DBR.No.Dir.BC.13/08.12.001/2015-16 dated July 1, 2015, which is available on our website www.rbi.org.in under the head ‘Notifications’.

Also, refer to circular DBR.BP.BC.No. 44/08.12.015/2015-16 dated October 8, 2015 on ‘Individual Housing Loans: Rationalisation of Risk-Weights and LTV Ratios’ which is available on our website www.rbi.org.in under the head ‘Notifications’
Nov 05, 2019
42 What are the current guidelines for the issue of a Bank Guarantee? Please refer to Master Circular – ‘Guarantees and Co-acceptances’ issued vide DBR.No.Dir.BC.11/13.03.00/2015-16 dated July 1, 2015 which is available on our website www.rbi.org.in under the head ‘Notifications’. Nov 05, 2019
43 Whether the Banking Regulation Act, 1949 is applicable to AIFIs? No. AlFIs are regulated by RBI in terms of powers conferred by Section 45L of RBI Act, 1934. The activities of AIFIs are mainly governed by their respective statutes. Nov 05, 2019
44 Name of the Regulatory body regulating Financial Institutions. RBI, DBR, FID regulates four All India Financial Institutions (AIFIs), viz. Small Industries Development Bank of India (SIDBI), National Housing Bank (NHB), Export-Import Bank of India (EXIM Bank) and National Bank for Agriculture and Rural Development (NABARD). Nov 05, 2019
45 Total number of All India Financial Institutions (AIFIs).
In India and Sector wise
At present, RBI, Department of Regulation (DoR) regulates four All India Financial Institutions, viz. National Bank for Agriculture and Rural Development (NABARD), Export Import Bank of India (EXIM Bank), Small Industries Development Bank of India (SIDBI), National Housing Bank (NHB). Further, Industrial Investment Bank of India (IIBI) Ltd., which was also being regulated by RBI, DBR has been under the process of Voluntary Winding up since September 2012. Nov 05, 2019
46 Name and Date of Establishment of the All India Financial Institutions (AIFIs).
Name of AIFI Date of Establishment
National Bank for Agriculture and Rural Development (NABARD)- July 12, 1982
Export Import Bank of India (EXIM Bank) January 1, 1982
Small Industries Development Bank of India (SIDBI) March 7, 1990
National Housing Bank (NHB) July 9, 1988
Nov 05, 2019
47 Is it mandatory to take insurance while availing any loan product from a bank? Please refer to Master Circular on “Loans and Advances – Statutory and Other Restrictions” issued vide DBR.No.Dir.BC.10/13.03.00/2015-16 dated July 1, 2015, and our “Master Direction- Reserve Bank of India (Financial Services provided by Banks) Directions, 2016” dated May 26, 2016.

The above mentioned master direction/circular is available on our official website https://www.rbi.org.in under the ‘Notifications’ tab.
Nov 05, 2019
48 If bank staff force customer to purchase insurance products and/or threaten to deny the loan then what should be course of action/grievance redressal mechanism. In case of grievance against particular bank, a complaint may be lodged with the branch of concerned bank or its controlling office. If the complaint is not redressed within 30 days, then a fresh complaint can be made to Banking Ombudsman, under the Banking Ombudsman Scheme, 2006. The details of the Banking Ombudsman Scheme are available on RBI’s website www.rbi.org.in. Nov 05, 2019
49 Whether the ATM card gives an insurance cover to the account holder in case of accidental death? Department of Regulation has not issued any specific instructions in this regard and hence, do not have the requisite information.

However, please refer to Master Circular on Credit Card, Debit Card and Rupee Denominated Co-branded Pre-paid Card Operations of Banks and Credit Card issuing NBFCs – 2015 dated July 1, 2015.

The circular is available on our official website https://www.rbi.org.in under the ‘Notifications’ tab.
Nov 05, 2019
50 What are the measures taken by RBI to control credit card frauds? Please refer to Master Circular dated July 1, 2015 on “Credit Card, Debit Card and Rupee Denominated Co-branded Pre-paid Card Operations of Banks and Credit Card issuing NBFCs”.

The circular is available on our official website https://www.rbi.org.in under the ‘Notifications’ tab.
Nov 05, 2019
51 What are the guidelines on interest rate and other charges pertain to credit card? Please refer to Master Circular dated July 1, 2015 on “Credit Card, Debit Card and Rupee Denominated Co-branded Pre-paid Card Operations of Banks and Credit Card issuing NBFCs”.

The above cited circular is available on website www.rbi.org.in under “Notifications” tab.
Nov 05, 2019
52 Is bank staff are allowed to sell insurance products in branches? What are the guidelines issued in this regard? Please refer to Master Direction on “Financial Services provided by Banks” dated May 26, 2016 (Updated as on September 25, 2017),

The above cited Direction is available on our website www.rbi.org.in under the tab “Notifications”.
Nov 05, 2019
53 Can a bank issue credit card or increase the credit limit of a credit card, without customer consent? Please refer to “Master Circular on Credit Card, Debit Card and Rupee Denominated Co-branded Pre-paid Card Operations of Banks and Credit Card issuing NBFCs – 2015” dated July 1, 2015.

The above cited circular is available on website www.rbi.org.in under “Notifications” tab.
Nov 05, 2019
54 Is it compulsory to obtain debit card from banks? Please refer to “Master Circular on Credit Card, Debit Card and Rupee Denominated Co-branded Pre-paid Card Operations of Banks and Credit Card issuing NBFCs – 2015” dated July 1, 2015.

The above cited circular is available on website www.rbi.org.in under “Notifications” tab.
Nov 05, 2019
55 Name and Number of nominated banks permitted by RBI to import gold for this financial year The list of nominated banks permitted by RBI to import gold is available at :
https://rbi.org.in/commonman/english/Scripts/Content.aspx?id=336
Nov 05, 2019
56 List of Foreign Banks which are permitted by RBI to do banking services in India with their addresses. The list of foreign banks operating in India (as branches and Representative offices), is available at:
https://www.rbi.org.in/commonman/Upload/English/Content/PDFs/71207.pdf

The correspondence addresses of foreign banks carrying on banking business in India are available at:
https://rbi.org.in/commonman/english/scripts/banksinindia.aspx
Nov 05, 2019
57 What is RBI`s policy regarding safety of lockers in banks? Please refer to Master Circular DBR.No.Leg.BC.21/09.07.006/2015-16 dated July 1, 2015 on ‘Customer Service in Banks’ which is available on our website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
58 Please provide RBI guidelines on fair practice code. RBI, Department of Regulation has issued following circulars to banks:-

(i) DBOD. Leg. No.BC.104/09.07.007/2002-03 dated May 5, 2003 on ‘Guidelines on Fair Practices Code for Lenders’.

(ii) DBOD.No.Leg.BC.65/09.07.005/2006-07 dated March 6, 2007 on ‘Guidelines on Fair Practices Code for Lenders’.

(iii) DBOD.No.Leg.BC.28/09.07.005/2007-08 dated August 22, 2007 on ‘Guidelines on Fair Practices Code for Lenders- Furnishing Copy of Loan Agreement’.

(iv) DBOD.No.Leg.BC.86 /09.07.005/2008-09 dated November 25, 2008 on ‘Guidelines on Fair Practices Code for Lenders- Disclosing all information relating to Processing Fees /Charges’.

(v) DBOD.Leg.No.BC.61/09.07.005/2010-11 dated November 12, 2010 on ‘Guidelines on Fair Practices Code for Lenders- Disclosing all information relating to processing fees /charges’.

Also, you may refer to circular DBR.Leg.No.BC.64/09.07.005/2014-15 dated January 22, 2015 on ‘Display of Information by Banks’. (The aforementioned circulars are available on our website www.rbi.org.in under the link ‘Notifications’)

Nov 05, 2019
59 Please provide RBI guidelines to banks on collecting information from customers for cross-selling purposes Please refer to Master Circular DBR No.Leg.BC.21/09.07.006/2015-16 dated July 1, 2015 on ‘Customer Service in Banks’ which is available on our website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
60 What are RBI guidelines regarding banking hours, extended business hours and extended business hours for non-cash banking transactions? Please refer to Master Circular DBR.No.Leg.BC.21/09.07.006/ 2015-16 dated July 1, 2015. on ‘Customer Service in Banks’ which is available on our website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
61 What are RBI guidelines on liability of customers and banks in an unauthorized electronic banking transaction? Please refer to circular DBR.No.Leg.BC.78/09.07.005/2017-18 dated July 6, 2017 on ‘Customer Protection - Limiting Liability of Customers in Unauthorized Electronic Banking Transactions’ which is available on our website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
62 Please provide guidelines issued in respect of Senior citizen and differently abled persons. Please refer to circular DBR.No.Leg.BC.96/09.07.005/2017-18 dated November 9, 2017 on ‘Statement on Developmental and Regulatory Policies - October 4, 2017- Banking Facility for Senior Citizens and Differently abled Persons’, which is available on our website www.rbi.org.in under the link ‘Notifications’.

Also refer to Master Circular DBR.No.Leg.BC.21/09.07.006/2015-16 dated July 1, 2015 on “Customer Service in Banks”, which is available on our website www.rbi.org.in under the link ‘Notifications’.
Nov 05, 2019
63 What are the latest guidelines of RBI on entries in Passbook and Statement of Accounts? Please refer to circular DBR.No.Leg.BC.76/09.07.005/16-17 dated June 22, 2017 and Master Circular DBR.No.Leg.BC.21/09.07.006/2015-16 on ‘Customer Service in Banks’ dated July 1, 2015. The circulars are available on our website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
64 If a customer has any grievance/complaint against a bank/branch then what shall be the course of action? In case of grievance against a specific bank, the applicant may lodge a complaint with the concerned bank branch. If not satisfied with their reply, you may lodge a complaint with Nodal Officers / Principal Nodal Officers at Controlling Office / Head Office of the bank branch, appointed under the Banking Ombudsman Scheme, 2006, for redressal of complaint. If complaint is not redressed within one month, a complaint can be made to Banking Ombudsman, under the Banking Ombudsman Scheme, 2006. The details of the Banking Ombudsman Scheme are available on RBI’s website www.rbi.org.in . The name and contact details of the Nodal Officers of the banks are available in their respective official website. You may also refer to RBI Press Release, 2018-2019/542 -The Reserve Bank introduces Internal Ombudsman Scheme, 2018 for Scheduled Commercial Banks dated September 03, 2018 (available on our website www.rbi.org.in under the link ‘Press Releases’). Nov 05, 2019
65 When is a savings bank/current bank account treated as inoperative/dormant. Please refer to Master Circular DBR.No.Leg.BC.21 /09.07.006/ 2015-16 dated July 1, 2015. on ‘Customer Service in Banks’ which is available on our website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
66 What are RBI guidelines regarding settlement of claims of deceased depositors.
67 What are RBI guidelines on Nomination facility.
68 Guidelines regarding Basic Savings Bank Deposit Account (BSBDA)/Zero balance accounts issued by RBI. Please refer to circular DBR.Leg.BC.No 47/09.07.005/2018-19 dated June 10, 2019 which is available on our website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
69 What are RBI guidelines on ATM failed transactions. Please refer to Master Circular DBR.No.Leg.BC.21 /09.07.006/ 2015-16 dated July 1, 2015. on ‘Customer Service in Banks’ which is available on our website www.rbi.org.in under the link ‘Notifications’. Nov 05, 2019
70 Information about Regional Rural Banks (RRBs) The list of all RRBs can be accessed by RBI website using the following path:
www.rbi.org.in>> Home>>Consumer Education & Protection>>For common person>>useful information >>Financial agents>>Banks in India
Nov 05, 2019
71 Whether any bank can obtain revival letter/acknowledgement of debt after the loan account become NPA? Any circular/notification of RBI regarding the above matter may be also furnished. Reserve Bank of India has not issued any specific instructions in this regard. However, please refer to Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances dated July 1, 2015.

The above-mentioned circular is available on website www.rbi.org.in under the link ‘Notifications’.
Nov 05, 2019
72 Define the meaning of NPA with rule provision to ascertain its nature. Please refer to Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances dated July 1, 2015.

This circular is available at website www.rbi.org.in under the link ‘Notifications’.
Nov 05, 2019
73 Provide the steps would follow to recover the amount from NPA account.
Provide the steps for process for recovery of NPA loan account
As per circular DBOD. NO. BP.BC.81/21.01.040/95 dated July 21, 1995, each bank is required to have a loan recovery policy which sets down the manner of recovery of dues, targeted level of reduction (period-wise), norms for permitted sacrifice/waiver, factors to be taken into account before considering waivers, decision levels, reporting to higher authorities and monitoring of write-off/waiver cases. Nov 05, 2019
74 I want to know that in the matter of working capital assessment, is there any guidelines/rules requiring banks to re-assess/appraise the working capital of the borrower each year. Please refer to Master Circular on ‘Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances’.

The aforesaid Master Circular is available on website www.rbi.org.in under the link ‘Notifications’.
Nov 05, 2019
75 List of Banks in India. The list of Banks in India is available in public domain on the following link:
https://rbi.org.in/commonman/english/scripts/banksinindia.aspx
Nov 05, 2019
76 What are the guidelines and documents that are required for opening of a Universal Bank in the Private Sector? Please refer to Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector, dated August 1, 2016, as issued by RBI vide press release 2016-2017/281. The same can be accessed through the web link
https://rbidocs.rbi.org.in/rdocs/Content/PDFs/GOTL01082016BB321081EF5A45A489080187CA4CA690.PDF
Nov 05, 2019
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