RBI asks banks to allot Unique Customer Identification Code (UCIC) to existing individual customers by end-April, 2013. The unique number will help identify a single customer for various services in a bank.
RBI to issue detailed guidelines on the 'basic savings bank deposit account' with certain minimum common facilities without the requirement of minimum balance to all customers.
RBI forms committee chaired by KC Chakrabarty to study the increase in demand for coins, and supply and distribution bottlenecks to ensure regular and smooth availability of coins. The panel is expected to submit its report by end-May, 2012.
RBI proposes to set up a working group to assess feasibility of introducing more long-term fixed interest rate loan products by banks. Currently, banks offer fixed rates on deposits and mostly floating rates on home loans, which expose borrowers to uncertain rate movements.
RBI forms a working group under the chairmanship of deputy governor Anand Sinha to study the methodology of the determination of credit spreads and its components and suggest measures for appropriate pricing of floating rate loan products to improve transparency in pricing and loan documentations. The group is expected to submit its report by end-July, 2012.
RBI says policy on compensation for private and foreign banks will come into effect from FY13. The policy will cover effective governance of compensation, alignment of compensation with prudent risk-taking and disclosures.
RBI forms a working group under the chairmanship of R Gandhi to enhance liquidity in g-sec and interest rate derivatives markets. The panel will submit its draft report to RBI by end-May, 2012. RBI is developing web-based access to the NDS-order matching (OM) system for secondary market transaction, which may be implemented by end-June, 2012.
RBI forms a working group chaired by KUB Rao to study lending by NBFCs against gold. The committee is expected to submit its report by end-July, 2012. The panel will study practices of NBFCs involved in lending against gold, assess trends in demand for gold loans and study how it influences gold imports, among other things.
RBI says the working group chaired by Usha Thorat on regulatory framework for NBFCs to release draft guidelines by end-June, 2012. The group had submitted its report in August, 2011.
RBI says the working group chaired by B Mahapatra to study guidelines on restructuring of advances by banks and financial institutions and is expected to submit report by end-July, 2012. The group, formed in January 2012, will suggest revisions taking into account the best international practices and accounting standards.
RBI forms committee to study supervisory policies, procedures and processes. The panel, to be chaired by KC Chakrabarty, is expected to submit its report by end-July. The committee will look at devising rating methods to capture fair, transparent and non-discriminatory pricing.
RBI says it will issue guidelines on licensing to set up new urban co-operative banks (UCB) by end-June, 2012. In August 2011, an expert panel, chaired by YH Malegam, on granting new licences for setting up UCBs submitted its report.
RBI asks a state-level banking committee to prepare a roadmap for unbanked villages with a population of less than 2,000 and notionally allot these villages to banks to provide services in a time-bound manner.
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