Reserve Bank of India – Press Releases
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Category: RBI News
Reserve Bank of India – Press Releases
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April 14, 2015
Dear All
Welcome to the refurbished site of the Reserve Bank of India.
The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.
With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.
The site can be accessed through most browsers and devices; it also meets accessibility standards.
Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.
Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.
Thank you for your continued support.
Department of Communication
Reserve Bank of India
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Reserve Bank of India – Press Releases
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April 14, 2015
Dear All
Welcome to the refurbished site of the Reserve Bank of India.
The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.
With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.
The site can be accessed through most browsers and devices; it also meets accessibility standards.
Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.
Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.
Thank you for your continued support.
Department of Communication
Reserve Bank of India
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Reserve Bank of India – Tenders
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Please refer the tender notice for the captioned RFP published on the Bank’s website www.rbi.org.in on December 11, 2020, inviting Request for proposal (RFP) from firms/ companies to provide comprehensive consultancy services for the proposed work.
2. The following sections of the RFP have been revised and the modified provisions are as under:
| Section | Existing Provision | Revised Provision |
| 4.44.3 Insurance | The consultant shall indemnify and keep the Bank indemnified against all risks during the entire period of implementation of the project against any claims, demands, actions for proceedings that may be made or initiated against the Bank or that may be suffered by the Bank by reason of anything done by the consultant pursuant to any work done by them towards the project.
Before commencing establishment of ABPC and on-site support, it shall be obligatory to the consultant to obtain at his cost, all necessary and relevant insurance cover for appropriate value and which shall remain valid till end of stabilisation period and on-site support respectively, for the requirements, such as, but not limited to: a. Accident/s to staff, engineers, consultants, supervisors and others b. Professional Liability Insurance for all professionals like Architects, Structural Consultants, Electrical Consultants, automation consultants etc. who shall be engaged by the Consultant for designing the ABPC. The insurance cover shall be a minimum of 100% of the consultancy charges. The above mentioned policies shall be in joint names mentioning the Bank’s name first and a copy of the same shall be submitted to the Bank before commencement of execution of work. Alternatively, an endorsement on the policy in favour of the Bank may be provided in the Performance Liability Insurance policy where the ABPC project and all the consortium partners are covered. No adjustments in the consultancy charges or on-site support charges shall be made for providing insurance. |
The consultant shall indemnify the RBI and keep the Bank indemnified during the entire period of implementation of the project against any damage, expense, liability, loss or claim which the RBI might incur, sustain or be subjected to, which is attributable to any defect in the design of the ABPC facility (including technical and automation design), or any other work done towards this project by the Consultant and/or any person acting on behalf of the consultant including its employees or sub-consultants.
At the time of signing of the contract and commencement of on-site support, as applicable, it shall be obligatory to the consultant to obtain at his cost, all necessary and relevant insurance cover for appropriate value issued only from an insurance company operating in India and which shall remain valid till end of stabilisation period/ on-site support, as applicable for the requirements but not limited to: a. Accident/s of staff, engineers, consultants, sub-consultants, supervisors and others b. Professional Liability Insurance (PLI) for designing and execution of the ABPC project. The insurance cover shall be a minimum of 100% of the consultancy charges excluding on-site support and shall be valid till stabilization period. c. Commercial General Liability for any injury / property damage sustained during execution and stabilization of the project. The above mentioned policies shall be in joint names mentioning the Bank’s name first and a copy of the same shall be submitted to the Bank before commencement of work. In case of PLI, where such joint policy cannot be provided, an endorsement on the policy in favour of the Bank may be provided in the Professional Liability Insurance policy where the ABPC project and all the consortium partners are covered. No adjustments in the consultancy charges or on-site support charges shall be made for providing insurance. |
| 4.44.4 Professional Indemnity Bond | The consultant shall, at the time of signing the contract, submit a signed Professional Indemnity Bond covering the design of the ABPC for a value equal to 100% of the Consultancy charges. This Bond shall be valid up to the service life of the facility. A format of the bond is provided in Form M. | The consultant shall, at the time of signing the contract, submit a signed Professional Indemnity Bond covering the design of the ABPC for a value equal to 100% of the Consultancy charges This Bond shall be valid up to 10 years after stabilization of the facility. A format of the bond is provided in Form M. |
| Draft Contact Clause 2.10 Standard of Care |
The consultant shall observe the highest standard of care and considering the significance, exclusive and unique scope of work, the standard of duty shall be special. | Considering the significance, exclusive and unique scope of work, the Consultant shall observe the highest standard of skill and care. |
3. The following provision has been added in the RFP at Section V: Conditions of Contract at para 5.34 as follows and, accordingly, existing para 5.34 is now revised as para 5.35.
5.34 LIMITATION OF LIABILITY
(A) Consultant’s Liability –
(i) In case of any damage or loss to the property of any person, directly or indirectly attributable to negligence or misconduct on the part of the Consultant or on the part of any person or firm acting on behalf of the Consultant, the Consultant would be liable to make good the damage/ loss irrespective of the amount.
(ii) In all other cases, the Consultant’s liability would not exceed, the total contract value or the proceeds the Consultants may be entitled to receive from any insurance maintained by the Consultant to cover such a liability, whichever is higher.
(B) Bank’s liability
The liability of the Bank (whether in contract, tort, negligence, strict liability in tort, by statute or otherwise) for any claim in any manner related to the consultancy services shall be limited to the amount of fees remaining to be paid to the Consultant.
5.35 All decisions taken by the Bank regarding this Tender (as mentioned in this Tender Document) shall be final & irrevocable.
4. The existing Form M has been modified and the revised form is given in Annex.
5. It is further advised that Consultant is expected to both plan and supervise the execution of the project and obtaining all statutory approvals and NOCs are part of the scope of work of the consultant. It is reiterated that, Price Adjustment in the costs shall be made only for the milestones and addition / deletion / modification/ deferrals derived from the milestones, carried out during the ‘contract period’. The ‘contract period’ shall mean ‘original scheduled completion period till completion of stabilisation period’ (as in the Project Report approved by the Bank) and/or authorised extension/s granted to cover the period/s of hindrance/s on account of force majeure conditions taken together under reckoning / delays beyond the control of the consultant.
6. It is clarified that all other terms and conditions of the RFP shall remain unchanged. This shall also be part of the RFP document.
Chief General Manager-in-Charge,
Department of Currency Management,
Central Office,
Reserve Bank of India,
Mumbai 400 001.
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Reserve Bank of India – Press Releases
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The above information can be accessed on Internet at https://wss.rbi.org.in/ The concepts and methodologies for WSS are available in Handbook on WSS (https://rbi.org.in/scripts/PublicationsView.aspx?id=15762). Time series data are available at https://dbie.rbi.org.in Ajit Prasad Press Release: 2021-2022/396 |
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Reserve Bank of India – Tenders
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(Only through e-procurement)
RBI/Mumbai/Others/32/20-21/807
1. Reserve Bank of India, Protocol & Security Establishment, Mumbai Regional Office, Mumbai (RBI/Bank) invites E-tenders in two parts (Part I- Pre-Qualification Criteria & Part II- Price Bid) from FMS Companies Firms/Pest Control Agencies/Firms “E-TENDER FOR c”. The interested vendors must register themselves on the MSTC portal for participating through e-tendering. The period of contract will be from date of award of work (issue of the work order) up to March 31, 2022 as per laid down contractual obligations (The Tender along with the prices shall remain valid initially for a period of 3 months from the date of opening of Pre-Qualification Criteria). The work is estimated to cost Rs. 2,00,00,000/- (Rupees Two Crore only) inclusive of all applicable taxes, cess and any other statutory levy (inclusive of GST).
2. The Pre-Qualification papers super scribed as “ANNUAL MAINTENANCE CONTARCT OF PEST CONTROL & SANITIZATION SERVICES AT BANKS RESIDENTIAL COLONIES AND OFFICES OF RESERVE BANK OF INDIA, MUMBAI.” addressed by name to Shri. Ajay Michyari, Regional Director, Reserve Bank of India, shall be submitted to AGM (Admin) P & SE, Fort Office Mumbai latest by 12.07.2021 till 02:00 PM for Bank’s examination. Alternatively, the scanned copy of all the PQ document may be forwarded to mail id: ssdhongade@rbi.org.in, ugmundhe@rbi.org.in and sumitandure@rbi.org.in latest by 12.07.2021 till 02:00 PM. However those firms who have forwarded the scanned copies through mail has to submit the original copies of PQ documents personally/by courier on or before 12.07.2021 by 02:00 PM.
3. The Earnest Money Deposit (EMD) of Rs. 4,00,000/- (Rupees Four lakh only) may be remitted through NEFT or furnish the Bank Guarantee in respect of the said amount. The Bank Guarantee (from Scheduled Commercial Bank) submitted towards Earnest Money deposit has to be valid for the validity period of the tender plus additional 45 days. Documentary evidence in support of remittance shall be submitted in sealed cover addressed to The Regional Director, Reserve Bank of India, Protocol and Security Establishment, Mumbai-400 001 so as to reach P&SE Office up to 2:00 PM on 26/07/2021 super scribing as “EMD for ANNUAL MAINTENANCE CONTARCT OF PEST CONTROL & SANITIZATION SERVICES AT BANKS RESIDENTIAL COLONIES AND OFFICES OF RESERVE BANK OF INDIA, MUMBAI”.
4. Online tenders will be available for viewing /download from 11.00 AM on 21/06/2021 from the website www.mstcecommerce.com.
5. A pre-bid meeting (off-line mode) of the intending Tenderers will be held on 19/07/2021 at 11.00 AM.
6. Place of Pre-Bid meeting:
Protocol & Security Establishment, Reserve Bank of India, Mumbai Regional Office, First Floor, Main Building, SBS Road, Fort, Mumbai- 400001.
7. Place, Time and date before which written queries for Pre-bid meeting must be received:
Protocol & Security Establishment, Reserve Bank of India, Mumbai Regional Office, First Floor, Main Building, SBS Road, Fort, Mumbai- 400001 by 05:00 PM on or before 18/07/2021.
8. The duly filled in tender documents shall be uploaded on MSTC site. (Date of Starting of online submission Part- II of e-tender from 19/07/2021 at 11:00 AM and Date of closing of online submission Part-II of e-tender is 26/07/2021 up to 03:00 PM)
9. Part II of the tenders will be opened on-line at 4.00 PM on 26/07/2021. The authorised representative, if desire, may be present at the opening of tender.
10. RBI is not bound to accept the lowest tender and reserves the right to accept either in full or in part any tender. The Bank also reserves the right to reject any or all the tenders without assigning any reason thereof.
Regional Director
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Reserve Bank of India – Press Releases
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The Reserve Bank of India (RBI) has imposed, by an order dated June 17, 2021 a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on The Manjeri Co-operative (Urban) Bank Ltd. No.1726, Manjeri, Malappuram District, Kerala (the bank) for contravention of / non-compliance of certain provisions of the directions issued by RBI contained in the Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs dated July 1, 2015 and the circular on Management of Advances – UCBs dated July 1, 2015. The penalty has been imposed on the bank in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949 (AACS) taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI. This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Background The statutory inspection of the bank was conducted by RBI based on its financial position as on March 31, 2020. The Inspection Report, revealed, inter alia, contravention of / non-compliance with the directions issued by Reserve Bank of India (RBI) on “Income Recognition, Asset Classification, Provisioning and Other related matters” and on “Management of Advances – UCBs”. Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the directions. After considering the bank’s written reply and the oral submissions made during the personal hearing, RBI came to the conclusion that the aforesaid charges of non-compliance with the extant RBI directions were substantiated and warranted imposition of monetary penalty. (Yogesh Dayal) Press Release: 2021-2022/395 |
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The Reserve Bank of India (RBl) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹6.00 lakh (Rupees Six Lakh only) on the Parwanoo Urban Co-operative Bank Limited, Parwanoo (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD.(PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and the Master Circular DCBR.CO.BPD.(PCB) MC No.13/13.05.000/2015-16 dated July 01, 2015 on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Background The inspection report of the bank based on its financial position as on March 31, 2019, revealed, inter alia, non-adherence with/violation of the aforesaid directions, viz., non-identification of NPAs, wrong classification of assets, inadequate provisions made due to wrong classification of assets and non-adherence to exposure norms in case of individual borrowers and group of borrowers. Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for violation of the said directions. After considering the bank’s reply and oral submissions made during the personal hearing, RBI came to the conclusion that the aforesaid charges of non-adherence with /violation of RBI directions were substantiated and warranted imposition of monetary penalty. (Yogesh Dayal) Press Release: 2021-2022/394 |
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Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List: Amendment of one entry
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RBI/2021-22/57 June 18, 2021 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da’esh) & Al-Qaida Sanctions List: Amendment of one entry Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on May 10, 2021, in terms of which “Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlawful Activities (Prevention) (UAPA) Act, 1967, they do not have any account in the name of individuals/entities appearing in the lists of individuals and entities, suspected of having terrorist links, which are approved by and periodically circulated by the United Nations Security Council (UNSC).” 2. In this regard, Ministry of External Affairs (MEA) has now forwarded the following Press Release issued by the United Nations Security Council (UNSC) Committee established pursuant to Resolutions 1267 (1999), 1989 (2011) and 2253 (2015) concerning ISIL (Da’esh), Al-Qaida, and associated individuals, groups, undertakings and entities regarding changes in the List of individuals and entities subject to the assets freeze, travel ban and arms embargo set out in paragraph 1 of UNSC resolution 2368 (2017), and adopted under Chapter VII of the Charter of the United Nations. Note SC/14555 dated 17 June 2021 regarding addition of one individual QDi.429 Name: 1: MOHAMMAD 2: ALI 3: AL HABBO] in UNSC’s 1267/ 1989 ISIL (Da’esh) & Al-Qaida Sanctions List. The UNSC press release concerning amendments to the list is available at 3. Updated lists of individuals and entities linked to ISIL (Da’esh), Al-Qaida and Taliban are available at: 4. The details of the sanctions measures and exemptions are available at the following 5. As per the instructions from the Ministry of Home Affairs (MHA), any request for delisting received by any Regulated Entity (RE) is to be forwarded electronically to Joint Secretary (CTCR), MHA for consideration. Individuals, groups, undertakings or entities seeking to be removed from the Security Council’s ISIL (Da’esh) and Al-Qaida Sanctions List can submit their request for delisting to an independent and impartial Ombudsperson who has been appointed by the United Nations Secretary-General. More details are available at the following 6. In view of the above, REs are advised to take note of the aforementioned UNSC communication and ensure meticulous compliance. Yours faithfully, (Vivek Srivastava) |
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Reserve Bank of India – Tenders
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Reserve Bank of India, Kanpur invites E-Tender for AMC of Direct telephone lines (including Hot lines) and Intercom Lines provided in Bank Main Office Premises and all Residential Colonies (CLOQ, TNOQ & KNSQ). The tendering would be done through the e-tendering portal of MSTC Ltd (http://mstcecommerce.com/eprochome/rbi). All interested and eligible (all empaneled for electrical works costing Rs. 5 Lakh and above) companies/agencies/firms must register themselves with MSTC Ltd through the above-mentioned website to participate in the tendering process. The Schedule of the e-tender is as follows:
EMD @ 2% of the total contract amount will be collected from successful bidder through NEFT/ Demand Draft/Banker’s Cheque issued by a Scheduled Bank drawn in favor of Reserve Bank of India, Kanpur. Applicants intending to apply will have to satisfy the Bank by furnishing documentary evidence in support of their possessing required eligibility and in the event of their failure to do so, the Bank reserves the right to reject their bids. Tenders without EMD will not be accepted under any circumstances. The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part any tender. The Bank also reserves the right to reject all the tenders without assigning any reason thereof. Any amendments / corrigendum to the tender, if any, issued in future will only be notified on the RBI Website and MSTC Website as given above and will not be published in the newspaper. Regional Director |
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