RBI Master Circulars
We often end up with so much of questions that is not clear to arrive at a decision in Banking. Who else can answer those other than the Apex Bank.
But the problem is RBI issues so many circulars a year and it is difficult to find what we are looking for it. For simplify this RBI issues Master Circular on Major banking Subjects every year on July 1st and it is valid up to June 30th of the Succeeding year.
Most of the things described in the Master circulars remains unchanged for an year, However RBI periodically issues modifications to the Master Circulars if needed.
For example when India's Foreign reserves dips to the lowest level EEFC balances held up by the Export earners asked for Conversion into Indian Rupees to the tune of 50% necessarily where Master Circular briefs they can keep 100% of the amount in EEFC. When Foreign exchange reserves got bettered it was subsequently withdrawn and then Exchange earners allowed to retain 100% of the amount in EEFC.
Visit the Following Link to access the July 2012's master Circulars.
RBI Master Circulars Reviewed by Manohar Veera on 11:00:00 AM Rating: