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may be provided packing credit under the extant guidelines for the purpose of
procuring and supplying inputs to the farmers so that quality inputs are available
to them which in turn will ensure that only good quality crops are raised. The
exporters will be able to purchase / import such inputs in bulk, which will h... |
(3) Advances against duty drawback receivable from Government.
C.3
Liquidation of Post-shipment Credit
267. Post-shipment credit is to be liquidated by the proceeds of export bills received
from abroad in respect of goods exported / services rendered. Further, subject to
mutual agreement between the exporter and ... |
272. Payment of undrawn balance is contingent in nature. The bank shall consider
granting advances against undrawn balances based on their commercial
judgement and the track record of the buyer.
C.6
Advances against Retention Money
273. In the case of turnkey projects / construction contracts, progressive payment... |
C.7
Export on Consignment Basis
280. Export on consignment basis lends scope for a lot of misuse in the matter of
repatriation of export proceeds. Therefore, export on consignment basis shall be
at par with exports on outright sale basis on cash terms in matters regarding the
rate of interest to be charged by ban... |
C.10 ECGC Post-shipment Guarantee Scheme
285. The bank shall, in the interest of export promotion and credit risk mitigation,
consider opting for export credit insurance products offered by ECGC Ltd. The
salient features of the scheme, Export Credit Insurance for Banks (ECIB), may be
obtained directly from ECGC Lt... |
for supply of goods specified as 'Deemed Exports' under the same Section of
Foreign Trade Policy from time to time.
E. Interest on Rupee Export Credit
291. The bank shall determine interest rate on rupee export credit (pre-shipment
credit and post-shipment credit) as per the policy approved by their Board, subject ... |
(3) to avail of pre-shipment credit in rupees and then convert drawal into PCFC at
the discretion of the bank.
297. Choice of currency
(1) The facility shall be extended in one of the convertible currencies viz. US
Dollars, Pound Sterling, Japanese Yen, Euro, etc.
(2) To enable the exporters to have operational fl... |
(3) The bank shall draw on the line of credit arranged only to the extent of loans
granted by them to the exporters under the PCFC. However, where the
overseas bank making available the line of credit stipulates a minimum amount
for drawals which shall not be very large, the small unutilised portion shall be
manage... |
F.5
Export Credit in Foreign Currency to Protect Exporters from Rupee
Fluctuations
306. Banks extend export credit in Indian Rupees as well as in foreign currency,
such as Pre-Shipment Credit in Foreign Currency (PCFC) and Post Shipment
Credit in Foreign Currency (PSCFC), as per their own internal lending policy ... |
of India (Commercial Banks – Financial Statements: Presentation and
Disclosures) Directions, 2025.
F.6
Disbursement of PCFC
312. In case full amount of PCFC or part thereof is utilised to finance domestic input,
the bank shall apply appropriate spot rate for the transaction.
313. As regards the minimum lots of t... |
far as possible, the substitution of contract shall be allowed if the exporter
maintains account with the same bank or it has the approval of the members of
the consortium, if any.
F.8
Cancellation / non-execution of export order
318. In case of cancellation of the export order for which the PCFC was availed of
... |
export purposes, the penal provisions stated above shall be made applicable and
the ‘Running Account’ facility shall be withdrawn for the concerned exporter.
323. The bank shall take any prepayment by the exporter under PCFC scheme
within their foreign exchange position and Aggregate Gap Limit (AGL) as indicated
in... |
total period of packing credit is limited to the actual cycle of production of the
exported goods.
329. The facility shall be extended where the banker or the leader of consortium of
banks is the same for both the export order holder and the manufacturer or, the
banks concerned agree to such an arrangement where th... |
authorities, whichever is earlier. PCFC shall also be repaid / prepaid out of
balances in EEFC A/c as also from rupee resources of the exporter to the extent
supplies have actually been made.
F.14 Other aspects
336. The applicable benefits such as credit of eligible percentage of export proceeds
to EEFC Account e... |
to rediscounting. The bank can rediscount export bills abroad at rates linked to
international interest rates at post- shipment stage.
G.1
Scheme
341. It will be comparatively easier to have a facility against bills portfolio (covering
all eligible bills) than to have rediscounting facility abroad on bill-by-bill... |
any). There is, however, no bar to include demand bills, if overseas institution has
no objection to it.
347. In case borrower is eligible to draw usance bills for periods exceeding 180 days
as per the extant instructions of Foreign Exchange Department, Post-shipment
Credit under the EBR shall be provided beyond 18... |
of rediscounting of Export Bills Abroad (EBR) subject to adherence to Aggregate
Gap Limit (AGL) in terms of Master Direction - Risk Management and Inter-Bank
Dealings.
G.4
Facility of Rediscounting 'with recourse' and 'without recourse'
355. It is recognized that it will be difficult to get ‘without recourse’ fac... |
G.7
ECGC cover
362. In the case of export bills rediscounted ‘with recourse’, there shall not be any
change in the existing system of coverage provided by ECGC Ltd as the liability of
the exporter continues till the relative bill is retired / paid. In other cases, where the
bills are rediscounted ‘without recours... |
370. The bank shall clearly specify the benefits it shall be offering to Gold Card
holders.
371. The charges schedule and fee-structure in respect of services provided by the
bank to exporters under the Scheme shall be relatively lower than those provided
to other exporters.
372. The sanction and renewal of the li... |
rates possible to Gold Card holders on the basis of their rating and past
performance.
381. Gold Card holders, on the basis of their track record of timely realization of
export bills, shall be considered for issuance of foreign currency credit cards for
meeting urgent payment obligations, etc.
382. The bank shall... |
389. Assessment of export credit limits shall be 'need based' and not directly linked
to the availability of collateral security. As long as the requirement of credit limit is
justified on the basis of the exporter's performance and track record, the credit
shall not be denied merely on the grounds of non-availabili... |
393. Consortium Finance – Sanction of Credit
In the case of consortium finance, once the consortium has approved the
assessment, member banks shall simultaneously initiate their respective sanction
processes.
394. Credit Monitoring Arrangement - Export Credit
(1) The bank shall ensure that the credit requirement... |
Chapter XVI - Non-Fund Based (NFB) Credit Facilities
Background: Non-fund based (NFB) facilities like guarantees, letters of credit, co-
acceptances etc. facilitate effective credit intermediation and smooth business
transactions. In order to harmonize and consolidate guidelines covering these
facilities and to bro... |
(3) NFB facilities issued based on the counter guarantee of another RE, as
permitted under this Chapter.
(4) NFB facilities on behalf of an obligor who has not availed any fund based
facility from any RE in India.
(5) NFB facilities extended by the bank against No Objection Certificate issued by
the RE / REs which... |
407. A bank shall honour the guarantee issued by it as and when invoked in
accordance with the terms and conditions of the guarantee deed unless there is a
court order restraining the same.
C. Usage of electronic-Guarantee
408. Wherever a bank issues an electronic Guarantee, it shall frame a standard
operating pro... |
(1) The bank shall have an efficient system of ‘Maker, Checker and Authorizer’ for
issuance and monitoring of electronic Guarantees, while ensuring strict access
control and an effective segregation of the role and accountability.
(2) No role involved in electronic Guarantee issuance lifecycle shall violate
princip... |
(5) Business Continuity Measures and contingency plans for system failures, shall
be put in place by the bank.
D. Guarantee favouring another RE
414. The bank shall not provide a guarantee favouring another RE to enable it to
provide any fund based credit facility to an obligor, unless specifically permitted by
... |
420. AD banks are also permitted to issue guarantee to or on behalf of a foreign
entity, or any of its step-down subsidiary in which an Indian entity has acquired
control through the foreign entity, which is backed by a counter-guarantee or
collateral by the Indian entity or its group company.
Provided that such gu... |
The contingent facility may, at the discretion of the PCE providing bank, be made
available as a revolving facility.
425. A clear agreement documenting all aspects of this arrangement shall be signed
between the promoter (bond issuer), the PCE providing bank, the bondholders
(through the Trustee) and all other lend... |
433. The PCE shall be available only for servicing the bond and not for any other
purpose (such as funding acquisition of additional assets by the corporate, meeting
part of the project cost or meeting recurring expenses of the corporate or servicing
other lenders / creditors to the project etc.), irrespective of th... |
J. Other Aspects of PCE
440. The effect of the PCE on the bond rating shall be disclosed in the bond offer
document i.e., the rating of the bond without and with the PCE shall be disclosed.
441. The bank shall ensure that the project assets, created out of the bond issue for
which PCE has been provided by them, and... |
Chapter XVII - Miscellaneous Provisions
A. Bank finance to Government owned entities
448. While extending finance to Government owned entities, banks shall specifically
ensure adherence with paragraphs 96, 134, 138 and 450 of these Directions, and
ensure that bank finance is not in lieu of or a substitute for budge... |
Chapter XVIII - Repeal and other provisions
A. Repeal and saving
451. With the issue of these Directions, the existing Directions, instructions, and
guidelines relating to Credit Facilities as applicable to commercial banks stand
repealed, as communicated vide circular DOR.RRC.REC.302/33-01-010/2025-26
dated Novem... |
In exercise of the powers conferred by Section 35A of the Banking Regulation Act,
1949, and all other provisions / laws enabling the Reserve Bank of India (‘RBI’) in this regard,
RBI being satisfied that it is necessary and expedient in the public interest so to do, hereby,
issues the Directions hereinafter specifie... |
(2) Annual Percentage Rate is the annual cost of credit to the cardholder which includes
interest rate and all other charges associated with the credit card under different
scenarios based on card features.
(3) Billing Cycle / Billing Period is the regular length of time between closing dates of
two consecutive bi... |
(13) Credit Limit is the maximum amount of revolving credit determined and notified to
the cardholder to transact in the credit card account.
(14) Debit Card is a physical or virtual payment instrument containing a means of
identification, linked to a Savings Bank / Current Account which can be used to
withdraw ca... |
lieu of the change in the underlying account relationship, upgradation due to new
technology or systems or re-issuance of cards that have been lost, blocked or
suspended temporarily, but does not include the opening of a new account after a
previous account was closed.
(23) Upgradation of Credit Card means enhance... |
Chapter II – Conduct of Credit Card Business
A. Eligibility
7. Banks with net worth of ₹100 crore and above are permitted to undertake credit card
business either independently or in tie-up arrangement with other card issuing banks /
NBFCs with the approval of their Boards. Banks desirous of setting up separate ... |
include, inter-alia, customer service, frauds, complaints and grievance redressal, card
usage analysis including cards not used for long durations and the inherent risks therein.
C. Issue of Credit Cards
11. Customer Acquisition:
(1) Card-issuers shall provide a one-page Key Fact Statement along with the credit ... |
Explanation: In case a customer receives an unsolicited card, he / she should refrain
from activating or providing consent for activation of card through OTP or any other
means. If no consent is received for activating the card, the card-issuer is required to
close the credit card account without any cost to the cus... |
Provided that, for blocking of business or retail credit cards, either the actual cardholder
or the principal cardholder can initiate the request.
(7) A card-issuer shall not report any credit information relating to a new credit card account
to Credit Information Companies prior to activation of the card. Any credi... |
(3) Card-issuers shall ensure complete transparency in the conversion of credit card
transactions to Equated Monthly Instalments (EMIs) by clearly indicating the principal,
interest and upfront discount provided by the merchant/card-issuer (to make it no cost),
prior to the conversion. The same shall also be separat... |
15. Card-issuers may issue business credit cards to business entities / individuals for
business expenses. The business credit cards may also be issued as charge cards,
corporate credit cards or by linking a credit facility such as overdraft / cash credit provided
for business purpose as per the terms and conditions... |
delay payable to the cardholder, till the closure of the account provided there is no
outstanding in the account.
Explanation: In case payment towards dues is outstanding, the card-issuer shall provide
details regarding such outstanding dues to the cardholder upon receipt of the closure
request without waiting for... |
transparency in levying such differential interest rates. The interest rates as prescribed in
the board approved policy and the rationale for the same shall be auditable. The card-
issuers shall publicise through their website and other means, the interest rates charged
to various categories of customers. Card-issuer... |
payment every month would result in the repayment stretching over months / years with
consequential compounded interest payment on your outstanding balance" shall be
prominently displayed in all the billing statements to caution the cardholders about the
pitfalls in paying only the minimum amount due. The MITC shall... |
levying any extra charge for such closure, subject to payment of all dues by the
cardholder.
(8) There shall not be any hidden charges while issuing credit cards free of charge.
G. Billing
24. Card-issuers shall ensure that there is no delay in sending / dispatching / emailing bills /
statements and the cust... |
mail-id, Interactive Voice Response (IVR), internet banking, mobile-application and any
other mode.
30. Any credit amount arising out of refund / failed / reversed transactions or similar
transactions before the due date of payment for which payment has not been made by
the cardholder, shall be immediately adjusted... |
o Purchase transaction date -
October 29, 2023
o Refund on November 04, 2023 - For
cancellation of purchase dated October
29, 2023
The bill is generated on October 30, 2023,
however, the payment towards the dues has not
been made till the date of refund. Therefore, the
refund amount received on November ... |
Note: The card-issuers may put in place a suitable mechanism to prevent evergreening of
the credit facility.
32. For business credit cards wherein the liability rests fully with the corporate or business
entity (principal account holder), timeframe provided for payment of dues and adjustment
of refunds may be as ... |
J. Customer Conduct
37. In the matter of recovery of dues, card-issuers shall ensure that they, as also their agents,
adhere to the extant instructions on Fair Practices Code for lenders.
38. In particular, with regard to appointment of third-party agencies for debt collection, the
card-issuers shall ensure that... |
hours for calling, privacy of customer information, conveying the correct terms and
conditions of the product on offer.
44. Card-issuers shall ensure that their employees / agents do not indulge in mis-selling of
credit cards by providing incomplete or incorrect information to the customers, prior to the
issuance ... |
Chapter III – Issue of Debit Card by Banks
A. Issue of Debit Card
45. Banks shall formulate a comprehensive debit cards issuance policy with the approval of
their Boards and issue debit cards to their customers in accordance with this policy. Prior
approval of the Reserve Bank is not necessary for banks desirous ... |
Chapter IV – Form Factor
A. Issue of Form Factor
51. Card-issuers may issue other form factors in place of / in addition to a plastic debit / credit
card such as wearables, after obtaining explicit consent from the customer.
52. Form factors shall be subject to all the specific and general guidelines applicable... |
Chapter V – Co-branding Arrangement
A. Issue of Co-branded Cards
54. Prior approval of the Reserve Bank is not necessary for the issuance of co-branded debit
cards, co-branded prepaid cards and co-branded credit cards subject to conditions
stipulated under this chapter. In addition to the conditions listed herein,... |
in Outsourcing) Directions, 2025, as amended from time to time. Card-issuers shall ensure
that cash backs, discounts and other offers advertised by a co-branding partner are
delivered to the cardholder on time. Card-issuers shall be liable for any delay or non-
delivery of the same to the cardholders.
E. Role of co... |
Chapter VI – General Guidelines for Credit and Debit Cards
A. General Conditions
64. Card-issuers shall keep internal records to enable operations to be traced and errors to
be rectified (taking into account the law of limitation for the time barred cases) as
prescribed under Reserve Bank of India (Commercial Bank... |
well as the SMS numbers, shall be adequately publicized and included in the billing
statements.
70. Card-issuers shall immediately send a confirmation to the cardholder subsequent to the
blocking of a card.
71. A card-issuer shall not dispatch a card to a customer unsolicited. In case of renewal of an
existing ... |
75. The terms and conditions for the issue and usage of a card shall be mentioned in clear
and simple language (preferably in English, Hindi and the local language) comprehensible
to the cardholder.
76. Card-issuers shall not levy any charge that was not explicitly indicated to the cardholders
at the time of issue... |
Foreign Exchange Department, Reserve Bank of India under Foreign Exchange
Management Act, 1999, as amended from time to time.
D. Redressal of grievances
83. Card-issuers shall put in place a Grievance Redressal Mechanism within the card issuing
entity and give wide publicity about it through electronic and print ... |
E. Confidentiality of customer information
86. Card-issuers shall not reveal any information relating to customers obtained at the time of
opening the account or issuing the card to any other person or organization without
obtaining their explicit consent, with regard to the purpose/s for which the information will... |
G. Compliance with Know Your Customer (KYC) Norms / Anti-Money Laundering (AML)
Standards / Combating of Financing of Terrorism (CFT) / Obligation under the PMLA,
2002
90. The instructions / Directions on KYC / AML / CFT issued by RBI from time to time, shall
be strictly adhered to in respect of all cards issued, ... |
Chapter VII – Miscellaneous
A. Contents of the Most Important Terms and Conditions
91. Card-issuers shall provide to the cardholder the term-sheet containing the MITC. The
document should contain the following details:
(1) Fees and Charges
(i) Joining fees for primary cardholder and for add-on cardholder/s
(... |
(iv)
Recovery of dues in case of death / permanent in capacitance of cardholder
(v)
Available insurance cover, if any, for cardholder and date of activation of policy
including nomination details
(5) Termination / Revocation of Card Membership
(i) Procedure for surrender / closure of card by cardholder
(ii)... |
B. Disclosure of the MITC
92. Items to be disclosed in stages:
(1) During marketing - Item no: 91 (1)
(2) At application - Key fact statement containing items from 91 (1) to (3) and any additional
information that the customer may desire.
(3) Welcome kit - Item nos: all items from 91 (1) to (8)
(4) On billin... |
Chapter VIII – Repeal and Other Provisions
A. Repeal and saving
93. With the issue of these Directions, the existing Directions, instructions, and guidelines
relating to Credit Card and Debit Card: Issuance and Conduct as applicable for
Commercial
Banks
stand
repealed,
as
communicated
vide
circular
DOR.RRC.... |
D. Exemptions
97. The RBI may, if it considers necessary for avoiding any hardship or for any other just and
sufficient reason, grant extension of time to comply with or exempt any bank, from any of
the provisions of these Directions either generally or for any specified period, subject to
such conditions as the R... |
Introduction
These directions aim to establish a standardised framework for reporting and
dissemination of credit information; safeguard the confidentiality and security of
sensitive credit data; provide mechanisms for consumers to access their credit
information and grievance redressal on matters related to credit... |
granted a certificate of registration under section 5 of the CICRA. The CICs
registered with RBI under Section 5 of the CICRA are:
Sl. No.
List of the CICs registered with RBI
Date of issue of Certificate
of Registration
1.
CRIF High Mark Credit Information
Services Private Limited
November 25, 2010
2.
Equif... |
Chapter-II Membership of CICs
6.
A CI shall become member of all the CICs registered with the RBI.
7.
One-time membership fee charged by the CICs from a CI to become their
members shall not exceed ₹10,000 each.
8.
The annual fees charged by the CICs from a CI shall not exceed ₹5,000 each. |
Chapter-III Credit Information Reporting and Dissemination
A. Data formats
9.
The reporting of credit information by a CI to the CICs, shall be undertaken in
standardised data formats as prescribed in Annex I. These standardised data
formats would be a non-proprietary reporting format and shall be known as
‘Unifo... |
the above-mentioned dates. Incremental accounts for this purpose shall include details
in respect of the following accounts:
(a) Accounts opened since the last reporting reference date;
(b) Accounts wherein the relationship between the borrower and the CI has ended
since the last reporting reference date;
(c) Acc... |
reported.
(2)
A CI shall report cases where compromise settlements have taken place and
the reason for such compromise settlement, in the prescribed data formats to CICs.
(3)
With respect to part instalment overdue, a CI shall submit data as it is, while
qualitative information on what filters to apply based on a... |
Explanations:
(a) The reporting of shareholders’ information under the ‘relationship’ field of the RS
in the Commercial data format should be done only for those shareholders who are
‘Beneficial Owners’ as defined under the Reserve Bank of India (Commercial Banks
– Know Your Customer) Directions, 2025, as amended ... |
2
Information to be collected by a CI from individual SHG
members where the total amount of loan to be attributed to or to
be availed by the SHG member is upto ₹30,000/-
Table 2
3
Information on all individual SHG members to be reported by a
CI to CICs [included under the Uniform Credit Reporting (MFI)
format] ... |
various sub-segments of the SHG members and designing suitable credit
penetration strategies keeping in view the socio-economic profile of the sub-
segments. The information shall be reported by CIs to the CICs in a manner
that allows the CICs to identify all members associated with a particular SHG
and a particular... |
will not be covered. However, in order to know the overall indebtedness of
a SHG member it may be necessary to know their exposures to the SHGs
with regard to inter-loaning as well. As part of the continued endeavour to
improve the quality of information of a SHG member, the need for capturing
the inter-loaning wou... |
the economic viability of their activities and the Groups’ capacity to service
the loan proposed to be taken by considering their loan applications.
(vii) The credit information relating to individual SHG members shall be
collected, reported, and disseminated as per the provisions of the CICRA
and the extant RBI di... |
D. Rectification of rejected data and review of Data Quality Index (DQI)
15.
3A CI shall rectify the rejected data shared by CICs and re-submit the same to
CICs before/ along with submission of data of subsequent reporting reference
date.
16. CICs shall prepare and provide Data Quality Index (DQI) for Consumer,
C... |
G. Display of information
21. A CI which is a secured creditor as per the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, shall
display, on its website, information in respect of the borrowers whose secured assets
have been t... |
(vi) The ‘outstanding amount’ to be displayed on the website of a CI shall be
as per definition provided under Section 13 (9) (b) of the SARFAESI Act,
2002 i.e. it shall include principal, interest and any other dues payable by
the borrower to the secured creditor in respect of secured asset as per the
books of acc... |
Operation of Investment Portfolio) Directions, 2025, as amended from time to time.
(3)
Reserve Bank of India (Commercial Banks – Credit Facilities) Directions, 2025
(4)
Reserve Bank of India (Commercial Banks – Transfer and Distribution of Credit
Risk) Directions, 2025
(5)
Reserve Bank of India (Commercial Ban... |
Chapter-IV Technical Working Group
A.
Instructions on Technical Working Group
23. In order to institutionalize a continuing mechanism for reviewing and making
changes where necessary in the data formats, a Technical Working Group
(TWG) shall be formed. The TWG shall carry out the following functions:
(1)
Review... |
27. The Sub-Group of TWG would consist of representatives from Public-Sector
Banks, Private Sector Banks, Foreign Banks, Small Finance Banks, Regional
Rural Banks, Urban Cooperative Banks, Non-Banking Financial Companies,
Asset Reconstruction Companies, Self-Regulating Organizations (SROs), viz.,
MFIN and Sa-Dhan, ... |
(i)
A CI shall send alerts through SMS / email to customers while submitting
information to CICs regarding default / days past due (DPD) in existing
credit facilities, wherever the mobile number/email ID details are available.
(ii)
To enable sending of alerts through SMS / email, the Uniform Credit
Reporting Form... |
B. Framework for compensation to customers
35. A CI shall implement the following compensation mechanism for delayed
updation/ rectification of credit information:
(1)
Complainants shall be entitled to a compensation of ₹100 per calendar day in
case their complaint is not resolved within a period of thirty calend... |
among the CIs / CICs concerned proportionately.
Illustrations:
(i)
Complaints registered with CIC by the complainant
CIs have maximum 21 days’ time and CICs have the remaining period, within the
overall time period of 30 days from the date of receipt of the complaint for its
resolution. Compensation payable by t... |
Case 3
•
Complaint registered with a CIC on January 1, 2022
•
The CIC seeks confirmation from Bank A on January 5, 2022.
•
Bank A provides confirmation to the CIC on January 28, 2022 (21st day would
be January 26, 2022) – 2 days delay by Bank A
•
If CIC resolves and provides rectified CIR to the complainant on... |
Explanation: The delay of six days shall be apportioned by the CIs/CICs on
weighted average of the extent of delay by each CIs/CICs. In the above case, the
overall delay is 6 days and therefore the complainant shall be entitled for total
compensation of ₹600. This needs to be apportioned between all the defaulting
... |
on a weighted average basis as under, for the delay of 15 days beyond the
permissible period of 30 days (i.e. in this case by January 31, 2022):
Bank A = No compensation
Bank B = (5*1500)/36 = ₹208.34
Bank C = (7*1500)/36 = ₹291.66
Bank D = (9*1500)/36 = ₹375.00
Bank E = (11*1500)/36 = ₹458.34
C... |
• If the CIC resolves and provides rectified CIR to Bank A on January 31, 2022 and
Bank A provides the rectified CIR to the complainant on February 1, 2022 – A
compensation of ₹100 shall be provided by the Bank A to the complainant for delay
of 1 days beyond the permissible period of 30 days (i.e. in this case by Ja... |
• If the CIC resolves and provides rectified CIR to Bank A on February 3, 2022 and
Bank A provides rectified CIR to the complainant on February 4, 2022 – A
compensation of ₹400 shall be provided by Bank A to the complainant for delay of
4 days beyond the permissible period of 30 days (i.e. in this case by January 31... |
lie with the complainant and the CIs will not be held responsible for any incorrect
information provided by the complainant.
(9) The compensation amount shall be credited to the bank account of the
complainant within five working days of the resolution of the complaint.
(10) The complainant can approach RBI Ombudsm... |
Ombudsman) Directions, 2023 dated December 29, 2023 (as amended from
time to time). |
Chapter-VI Best Practices
38. A CI shall take into account the best practices as detailed below, while
formulating or reviewing its policies and procedures under the CICRA with the
approval of their Board of Directors:
(1)
Instances of non-updation of repayment information could be avoided by
centralising the iss... |
Chapter-VII Repeal and Other Provisions
A. Repeal and saving
39. With the issue of these Directions, the existing Directions, instructions, and
guidelines relating to credit information reporting as applicable to Commercial
Banks stand repealed, as communicated vide circular DOR.RRC.REC.302/33-
01-010/2025-26 da... |
C. Interpretations
42. For the purpose of giving effect to the provisions of these Directions or in order
to remove any difficulties in the application or interpretation of the provisions of
these Directions, the RBI may, if it considers necessary, issue necessary
clarifications in respect of any matter covered her... |
Annex I
Uniform Credit Reporting Format
Form 1: Uniform Credit Reporting Format (Consumer)
Segments
Fields
Header
Reporting
Member /
Processor
User ID
Reporting Member
/ Processor Short
Name
Cycle
Identification
Date
Reported
and
Certified
Reporting
Password
Authentication
Method
Member Data ... |
Credit Facility Status
Inclusion of additional catalogue values:
•
Restructured due to COVID-19
•
Post Write Off Closed
•
Restructured and Closed
•
Auctioned and Settled
•
Repossessed and Settled
•
Guarantee Invoked
Ownership Indicator
Inclusion of additional catalogue value:
•
Deceased
Type of Collat... |
Form 2: Uniform Credit Reporting Format (Commercial)
Segments
Fields
Header
Member ID
Previous
Member ID
Date of Creation
& Certification of
Input File
Reporting /
Cycle Date
Information Type Filler
Borrower
Member
Branch Code
Previous
Member
Branch Code
Borrower s Name
Borrower Short
Name
Compa... |
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