Page 50 - Banking Finance December 2016

RBI CIRCULAR

at the close of business on each day starting from Repo / Reverse Repo Transactions with
November 10, 2016 till the closure of the scheme on RBI
December 30, 2016 (or till any other date thereafter
as may be advised by RBI) by email or Fax to their RBI/2016-17/117
Controlling Office a statement as per Annex-6 showing FMOD.MAOG.No.116/01.01.001/2016-17
the details of Specified Bank Notes exchanged by it and
the respective Controlling Offices will aggregate these
Dear Sir/Madam,
as per Annex-6A and report to the Department of
1. Please refer to circular No. FMRD.DIRD.10/14.03.002/
Currency Management, RBI, Central Office by email on
2015-16 dated May 19, 2016, on the captioned subject.
a daily basis.
2. In this connection, it has been decided to start
5. Banks may issue detailed instructions to their branches reckoning the market value of collateral securities for
advising them to strictly adhere to the norms of the the purpose of RBI Repo (including MSF) and Reverse
scheme and procedures laid down above. The staff at Repo operations and to allow re-repoing of securities
the branch level, particularly the tellers, should be received under RBI Reverse Repo operations with
adequately sensitized. For this purpose, information as effect from November 26, 2016.
available at the website (www.rbi.org.in) and 3. The detailed operational guidelines for the above is
Government of India website may be used. Staff should furnished in Annex. Participants are advised to make
familiarise themselves with the FAQs (as per Annex-4). necessary operational arrangements to comply with
the same.
6. Banks should make copies of information material (As
available at Annex-2, Annex-3 and Annex-4) and 4. Participation in the RBI Repo (including MSF)/ Reverse
distribute these to the public. Repo would be construed as acceptance of the terms
and conditions mentioned in this circular.
7. Bank should issue instructions to BCs, ATM Switch
Operators and CIT Companies on various aspects of the
Yours sincerely,
above scheme relevant to them.
(M Subramaniam)
8. Banks should monitor the implementation of the General Manager-in-charge
scheme on a day to day basis through a monitoring cell
headed by an Officer not below the rank of a General List of banks live on UPI as on
Manager, who will act as a Nodal Officer. The Contact November 23, 2016 (NPCI)
details of the Nodal officer will be reported to the
concerned Regional Office of RBI, with a copy to RBI 1. Axis Bank 16. Karnataka Bank
Central Office, Mumbai through email as indicated 2. Andhra Bank 17. HDFC Bank
below. 3. Allahabad Bank 18. South Indian Bank
4. Bank of Baroda 19. HSBC
9. RBI has opened a Control Room at its Central Office
for monitoring the progress and providing guidance 5. Bank of Maharashtra 20. TJSB Bank
to banks and members of public. The email id 6. Canara Bank 21. OBC Bank
and telephone numbers of the Control room are as 7. Catholic Syrian Bank 22. Union Bank of India
under: 8. Central Bank of India 23. Punjab National Bank
Email id: bankquery@rbi.org.in 9. DCB Bank 24. United Bank of India
10.ICICI Bank 25. RBL Bank
Telephone No: 022 22602804 / 022 22602944
11.IDBI Bank 26. UCO Bank
Yours faithfully 12.IDFC Bank 27. Standard Chartered Bank
(P Vijaya Kumar) 13.Federal Bank 28. Vijaya Bank
Chief General Manager 14.IndusInd Bank 29. State Bank of India
15.Kotak Bank 30. YES Bank

50 | 2016 | DECEMBER | BANKING FINANCE

Copyright@ The Insurance Times. 09883398055 / 09883380339