Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: empanelment :: Central Excise rule to resale the machines to a new company :: VAT Audit :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: list of goods taxed at 4% :: VAT RATES
 
 
« Latest Circulars »
 Regulatory requirements for issue of Pre-paid Payment Instruments by Co-operative Banks
 Applications invited for the Post of Deputy Governor, Reserve Bank of India
 Auction of Government of India Dated Securities May 22, 2017
  Direct Recruitment of ‘Chief Financial Officer’ in the rank of Executive Director in Reserve Bank of India
 A Call for Enterprise in Economic Data Generation and Information Analytics - Dr. Viral V Acharya, Deputy Governor - May 19, 2017 - Presentation at the 9th Indian Chamber of Commerce Banking Summit, Kolkata
 Reserve Bank of India Outlines the action plan to implement the Banking Regulation (Amendment) Ordinance, 2017
 RBI to conduct 7 day, 14 day and 28 day Variable Rate Reverse Repo Auctions under LAF on May 18, 2017
 RBI to conduct 7 day, 14 day and 28 day Variable rate Reverse Repo auctions under LAF on May 17, 2017
 RBI-Direct Recruitment of ‘Chief Financial Officer’ in the rank of Executive Director in Reserve Bank of India
 Auction of Government of India Dated Securities May 15, 2017
 Direct Recruitment of ‘Chief Financial Officer’ in the rank of Executive Director in Reserve Bank of India

RBI-Acquisition of Accommodation on Lease/Rental basis by Commercial Banks for their use (i.e. for Office and Residence of Staff) Liberalization of guidelines
May, 01st 2015

RBI/2014-15/582
DBR.No.BAPD.BC.92/22.01.003/2014-15

April 30, 2015

All Commercial Banks (including RRBs)

Dear Sir/Madam,

Acquisition of Accommodation on Lease/Rental basis by Commercial Banks for their use (i.e. for Office and Residence of Staff) – Liberalization of guidelines

Please refer to Circulars DBOD.No.BL.BC.105/22.01.03/98 dated November 11, 1998, DBOD.No.BL.BC.32/22.01.003/2008-09 dated August 21, 2008 and DBOD. No.BAPD.BC.59/22.01.003/2012-13 dated November 20, 2012 on the above subject.

2. In terms of these circulars banks were advised to lay down and formulate detailed operational guidelines covering all areas in respect of acquisition of premises. These norms and procedures for acquisition of accommodation on lease / rental basis by commercial banks for their own use have been in operation for a number of years. Since then branch authorization has been liberalized and Domestic Scheduled Commercial Banks (excluding RRBs) have been given general permission to open branches at any place in India, without seeking prior approval of RBI in each case, subject to certain conditions in terms of circular Nos.DBOD.BAPD.BC.54 /22.01.001/2013-14 dated September 19, 2013 and DBOD.BAPD.BC. 60/22.01.001/2013-14 dated October 21, 2013. In keeping with the current liberalized environment with regard to opening of branches, it has been decided to do away with the periodic statements on disputed premises to the Regional Directors of RBI or to Department of Banking Regulation, Central Office.

3. In view of the above, it is reiterated and banks are advised that norms and procedures for acquisition of accommodation on lease / rental basis by commercial banks for their use are left to be determined by the banks themselves. Banks must ensure that their branches are not functioning from premises unauthorized in law. Further, banks are advised that the legitimate grievances of owners of property leased to the bank should be examined at appropriately senior level in the bank and expeditious action should be taken to redress such grievances.

4. All other instructions remain unchanged.

Yours faithfully,

(Lily Vadera)
Chief General Manager

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions