Reserve Bank of India (RBI) Recruitment 2016

Friends,

Reserve Bank of India (RBI) invites applications from eligible candidates for the posts as mentioned below. The interested candidates can apply for these posts. The candidates are advised to ensure their eligibility before applying for these posts. The breif details are as under : 

Educational Qualifications (as on 01/07/2016): A minimum of 60% marks (50% in case of SC/ST/PWD) or an equivalent grade in Bachelor’s degree as well as in 12th (or Diploma or equivalent) and 10th standard examinations. The minimum qualifying percentage or an equivalent grade for the Bachelor's Degree will be in aggregate for all semesters / years.

No. of Vacancy : 163 (GEN/UR-77, OBC-52, SC-26, ST-8)

Pay Scale: Selected Candidates will draw a starting basic pay of Rs. 35,150/- p.m. in the scale of Rs. 35150-1750(9)-50900-EB-1750(2)-54400-2000(4)-62400 applicable to Officers in Grade B and they will also be eligible for Dearness Allowance, Local allowance, House Rent Allowance, Family allowance, and Grade Allowance as per rules in force from time to time. At present, initial monthly Gross emoluments are approximately Rs. 65,789/-.

Age (as on 01/07/2016):  21 to 30 years (candidates must have been born not earlier than 02/07/1986 and not later than 01/07/1995)

Scheme of Selection : Selection will be through ON-LINE Examinations and interview. Examinations will be held in two phase

(I) Phase-I online Examination (Objective Type): This Paper for 200 marks will be held on September 4, 2016.

            The Paper consists tests of (i) General Awareness (ii) English Language (iii) Quantitative Aptitude and (iv) Reasoning, with composite time of 120 minutes. , Candidates who secure minimum marks separately for each Test, as prescribed, will be shortlisted for Phase-II of the examination based on the aggregate marks obtained in Phase-I.

(II) Phase-II online Examination:            

          The Phase-II online Examination will be conducted on September 19, 2016, only for the candidates who are shortlisted on the basis of results of Phase-I.The Phase-II examination will be in shifts. 

Paper-I:Economic and Social Issues : Objective Type : 100 Marks

Paper II: English (Writing Skills) : Descriptive, to be typed with the help of the keyboard : 100 Marks

Paper-III: Finance and Management : Objective type : 100 Marks

Application Fee :

SC/ST/PWD : Intimation Charges only : Rs.100/-

GEN/OBC : App. Fee including intimation charges : Rs.850/-

Pre-Examination Training For SC/ST/OBC/PWD Candidates: The Bank will arrange free of  cost combined pre-examination training for Phases I and II of the examination for SC/ST/OBC/PWD candidates, at some of the centres where the Bank has its offices. Candidates who desire to avail of the training may apply (by post or email) separately to the Regional Director/General Manager, Reserve Bank of India at any one of the centres marked below, whichever is convenient to them in the format furnished below on or before August 10, 2016. Candidates should not send their application for training to the Reserve Bank of India Services Board's Office (Board) as the Board will not entertain such applications. Form Of Application For Training :  The Regional Director/General Manager, Reserve Bank of India, Human Resource Management Department

Examination Centres:

The online Examination for Phase-I will be held at the following Centres.

Andaman & Nicobar : Port Blair

Andhra Pradesh & Telangana : Guntur, Narasaraopet, Hyderabad, Rangareddy-Kodada, Karimnagar, Warangal, Rajahmundry, Kakinada, Tirupati, Chittoor, Vijaywada, Kanchikacherla, Gudlavalleru, Eluru, Vishakhapatnam, Vizianagaram

Arunachal Pradesh : Itanagar,Naharlagun city

Assam : Dibrugarh, Guwahati, Jorhat, Silchar

Bihar : Bhagalpur, Muzaffarpur, Patna

Chandigarh : Chandigarh

Chattisgarh : Raipur, Bhilai

Daman & Diu : Jamnagar

Goa : Varna

Gujarat : Ahmedabad, Gandhi Nagar, Bhavnagar, Jamnagar, Rajkot, Surat, Vadodara

Haryana : Hissar, Karnal, Rohtak

Himachal Pradesh : Dharamsala, Shimla

Jammu & Kashmir : Jammu

Jharkhand : Bokaro, Dhanbad, Jamshedpur, Ranchi

Karnataka : Belgaum, Bagalkot, Bengaluru, Chikaballapur, Kolar, Tumkur, Gulbarga, Bidar, Hubli, Dharwad, Haliyal, Gadag, Mangalore, Mysore, Mandya, Udipi

Kerala : Kannur, Kasargod, Kochi, Alappuzha, Kottayam, Pathanamthitta, Kozhikode, Malappuram, Thrichur, Palakkad, Thiruvananthapuram, Kollam, Nagarcoil

Lakshwadweep : Kavarrati

Madhya Pradesh : Bhopal, Gwalior , Indore, Jabalpur

Maharashtra : Aurangabad, Kolhapur, Mumbai, Navi Mumbai, Thane, Nagpur, Nasik, Pune, Solapur

Manipur : Imphal

Meghalaya : Shillong

Mizoram : Aizawl

Nagaland : Kohima

New Delhi : Delhi –NCR

Orissa : Balasore, Berhampur (Ganjam), Bhubaneswar, Cuttack, Sambalpur

Puducherry : Puducherry, Cuddalore, Villupuram

Punjab : Amritsar, Bhatinda, Jalandhar, Ludhiana, Mohali, Patiala

Rajasthan : Ajmer, Jaipur, Jodhpur, Kota, Udaipur

Sikkim : Gangtok, Bardang City

Tamilnadu : Chennai, Vellore, Coimbatore, Erode, Thirupur, Madurai, Virudhunagar, Dindigul Salem, Namakkal, Thiruchirapalli, Perambalur, Pudukottai, Thanjavur, Tirunelvelli, Kanyakumari, Tuticorin

Tripura : Agartala

Uttar Pradesh : Agra, Allahabad, Bareilly, Gorakhpur, Kanpur, Lucknow, Meerut, Varanasi

Uttarakhand : Dehradun, Haldwani, Nainital, Roorkee City

West Bengal : Berhampore (WB), Durgapur, Kolkata, Greater Kolkata, Howrah, Hooghly, Kalyani,Siliguri

How to apply

Candidates have to apply only Online between 18/07/2016 to 09/08/2016

Important Dates :

Phase-I Online Examination :  September 4th, 2016

Phase-II Online Examination : September 19th, 2016

Roll No. of the candidates shortlisted for Phase-II examination will be published on RBI web-site, tentatively within a week after Phase-I examination.

For more information Click Here

Reserve Bank of India (RBI) Recruitment of Officers 2015

Friends,

Reserve Bank of India (RBI), the Central Bank of India invites applications from eligible candidates for the posts as mentioned below. The interested candidates can apply in ONLINE mode only through the link provided on the official website of RBI. No other means/mode of application will be accepted. The candidates are requested to ensure their eligibility before applying for these posts. The selection of candidates will be made on the basis of Online examinations & interview. The brief details are as under :

Name of the Posts: Officer in Grade-’B’ (General)

1. General: 67 Posts

2. SC: 15 Posts

3. ST: 13 Posts

4. OBC: 39 Posts

Total No.of Posts: 134

Age Limit: Candidates age should be between 21-30 years as on 01-10-2015 (candidates must have been born not earlier than 02-10-1985 and not later than 01-10-1994). For candidates possessing M.Phil. and Ph.D. qualification, upper age limit will be 32 and 34years respectively. Age relaxation is applicbale 3 years for OBC, 5 years for SC/ ST, 10 years for PwD (Gen), 13 years for PwD (OBC), 15 years for PwD(SC/ ST) candidates as per rules.

Educational Qualification: Candidates should possess Bachelor’s Degree with minimum of 60% marks.

Application Fee: Candidates have to pay Rs. 850/- (Rs.100/- for SC/ ST/ PwD candidates) through online by using Debit Cards (RuPay/ Visa/ MasterCard/ Maestro), Credit Cards, Internet Banking, IMPS, Cash Cards/ Mobile Wallets. No fee for RBI Staff.

How to Apply: Eligible candidates may apply online through the website www.rbi.org.in from 05-10-2015 to 23-10-2015.

Instructions to Apply Online:

1. Before applying online candidates should have valid E-mail ID, scanned copies of photograph and signature.
2. Log on through the website www.rbi.org.in.
3. Click on “Opportunities@RBI” —> “Current Vacancies” —> “Vacancies”.
4. Click on “Recruitment of Officers in Grade ‘B’ (General) – DR – Batch Year 2015″ —> “Applications (App.)”.
5. Fill all the details carefully & Submit the form,
6. Now take printout of onl;ine appliction for future use.

Important Dates:

• Starting Date to Apply Online & for Payment of Fee: 05-10-2015.
• Last Date to Apply Online for & for Payment of Fee: 23-10-2015.
• Date of Phase-I Online Examination: 21 & 22-11-2015.
• Date of Phase-II Online Examination: 07-12-2015.

For more Information Click Here

Reserve Bank of India (RBI) Recruitment of Various Posts 2015-16

Friends,

Reserve Bank of India (RBI), India's Central Bank, invites applications from eligible candidates for the posts as mentioned below Advertisement No. 2 / 2014-15. The interested candidates can apply in ONLINE mode only through the link provided on the official website of . No other means/mode of application will be accepted. The candidates are requested to ensure their eligibility before applying for these posts. The brief details are as under :

Name and Number of Posts :

1. Assistant Manager (Rajbhasha) in Grade 'A' : 06 (UR – 03, SC – 01, OBC – 02)
2. Manager (Technical -Civil) in Grade 'B' : 02  (UR – 01, SC – 01)
3. Manager (Technical -Electrical) in Grade 'B' : 02 (UR)
4. Assistant Manager (Security) in Grade 'A' : 09 (UR – 04, SC – 02, ST – 01, OBC – 02)

For all other details such as Age, Qualification, Experience, Scheme of selection, Submission of Online application and other instructions, please refer to the detailed advertisement to be published on the RBI website on 9th March 2015 and in the Employment News / Rozgar Samachar issue dated 14th March 2015 / subsequent issue.

How To Apply: Eligible Candidates are required to Apply Online through RBI Website www.rbi.org.in between 09/03/2015 and 23/03/2015 [For Assistant Manager (Security) Post required to submit hard copy of application - Last Date is 30/03/2015 till 5 PM]

Important Dates:

Website Link Open - For On-Line Registration of Applications and Payment of On-Line Fees/ Intimation Charges -> 09/03/2015 to 23/03/215 

Only for the post of Assistant Manager (Security) in Grade 'A':- Closing date for receipt of system generated print out (hard copy) of the valid On-Line Application along with copies of certificates/ documents and Bio-data at RBI Services Board Office -> 30/03/2015 (Till 5.00 PM)

For more information Click Here

Reserve Bank of India Recruitment 2015-16

Friends,

Reserve Bank of India (RBI), India's Central Bank, invites applications from eligible candidates for the posts as mentioned below vide Advertisement No.   Dated. The interested candidates can apply on the prescribed application form which could be downloaded from the official website of RBI. No other means/mode of application will be accepted. The selection of the candidates will be done on the basis of the interview/exam conducted by the Bank. The brief details are as under :

Details of Post

Name of Post: Security Guard - 04 Posts

Pay Scale: Initial starting pay of Rs 6350/‐ per month, in the scale of Rs 6350‐220‐7230‐260‐8010‐ 300‐8910‐400‐9710‐500‐11710‐680‐13750 (20 years) + allowances as admissible from time‐to‐time. The total emoluments at the starting scale at the time of issue of advertisement works out to be Rs.16,215/‐ per month (approximately).  

Eligibility Criteria:

Education Qualifications : Minimum: Std 10th pass Maximum: Under‐ graduation

Age Limit: 18-25 Years

How to Apply : The interested and eligible candidates can apply on the prescribed application form which could be downloaded from the official website of Reserve Bank of India under Career Section on or before 09 March 2015.

Important Date

Last Date of Online Application: 09 March 2015

For more information Click Here

RBI Recruitment of Assistants 2014-15

Friends,

Reserve Bank of India, India's Central Bank, invites applications from eligible candidates for 506 posts of “Assistant” in various offices of the Bank. The interested candidates can apply in ONLINE mode only through the link provided on the official website of RBI. No other means/mode of application will be accepted. The candidates are advised to ensure their eligibility before applying for these posts. The selection for the post will be made through a country-wide competitive Online Examination and Interview. Candidates can apply for vacancies in one State only and will have to appear for online test from a centre of that particular State.Candidates are advised in their own interest to apply online much before the closing date and not to wait till the last date for depositing the fee to avoid the possibility of disconnection/ inability/failure to log on to the website on account of heavy load on internet or website jam. The brief details are as under : 

Name of the Posts: Assistants

Name of the Offices:

1. Ahmedabad: 10 Posts
2. Bangalore: 37 Posts
3. Bhopal: 37 Posts
4. Bhubaneswar: 25 Posts
5. Chandigarh: 40 Posts
6. Chennai: 30 Posts
7. Guwahati: 10 Posts
8. Hyderabad: 36 Posts
9. Jaipur: 26 Posts
10. Jammu: 10 Posts
11. Kanpur & Lucknow: 46 Posts
12. Kolkata: 30 Posts
13. Mumbai: 60 Posts
14. Nagpur: 20 Posts
15. New Delhi: 20 Posts
16. Patna: 39 Posts
17. Thiruvananthapuram & Kochi: 30 Posts

Total No of Posts: 506

Age Limit: Candidates age should be between 18 and 28 years i.e., he/ she must have been born not earlier than 02-07-1986 and not later than 01-07-1996 (both days including). Cutoff date for determining age limit is 01-07-2014. The upper age relaxation is 05 years for SC/ ST, 03 years for OBC, 10 years for PWD (GEN), 13 years for PWD (OBC) & 15 years for PWD (SC/ ST) candidates.

Educational Qualification: Candidates must possess Bachelor’s Degree in any discipline (Graduation or Passed in Matriculation or its equivalent examination of the Armed Forces with relevant defense service for Ex Servicemen category) with 50% marks (Pass Class for SC/ ST/ PWD candidates).

Selection Process: Candidates will be selected based on performance in Competitive Online Examination and Interview.

Application Fee: Candidates need to Pay Rs 450/- (Examination Fee + Intimation Charges) for OBC/ General candidates and Rs 50/- (Intimation Charges) for SC/ ST/ PWD/ EXS candidates, paid through online/ offline mode. Online Mode: Candidates can pay the fee in online mode by using Master/ Visa Debit or Credit cards or Internet Banking. Offline Mode: Candidates can pay the fee in offline mode through the CBS branches of the banks listed, from 2nd working day after registration and can be made within three working days. System generated fee payment challan will be used for depositing fee.

How to Apply: Eligible candidates may apply online through the website http://www.rbi.org.in/ from 16-07-2014 to 06-08-2014. After applying online, take print out of e-receipt and online application form for future use.

Instructions for Applying Online:

1. Candidates must scan their photograph, signature and have valid e-mail id.
2. Log on to the website http://www.rbi.org.in/.
3. Click on “Recruitment for the post of Assistant” —> “Click here for New Registration”.
4. Fill all the mandatory details and Submit.
5. A Provisional Registration number and Password will be generated, note it.
6. An Email & SMS indicating the Provisional Registration number and Password will also be sent.
7. Login yourself and upload their photograph & signature.
8. Make the fee payment by using online/ offline mode.
9. Take print out of e-receipt and online application form for future use.

Important Dates:

• Starting Date for Online Registration: 16-07-2014.
• Last Date for Online Registration & Edit of Applications: 06-08-2014.
• Last Date for Reprint of Applications: 21-08-2014.
• Online Fee Payment: 16-07-2014 to 06-08-2014 (both dates inclusive).
• Offline Fee Payment: 18-07-2014 to 11-08-2014 (both dates inclusive).
• Tentative Date of Online Test: Around Fourth Week of September 2014.
• Tentative Date to Download Call Letters: 16-09-2014.

For more information Click Here

Recruitment Portal of RBI

RBI Recruitment of Assistant/Office Attendant 2014-15

Friends,

Reserve Bank of India, India's Central Bank invites applications from eligible candidates for the posts of Assistants and Office Attendants. The Bank has issued a notification in this regard. The office-wise break-up of the posts is available on the Bank's website. Candidates possessing requisite qualifications will be called for selection trials. Candidates who qualify in selection trials for the discipline applied for will be called for interview at respective centres. Since the recruitment will be mainly on the basis of sports qualifications suitable weightage would be given to this factor as well as the age of the candidates. Selection will be made strictly on the basis of merit. Selection trials and interviews will be conducted at respective offices. The Bank reserves the right to restrict number of candidates to be called for interview. Mere fulfillment of requisite qualifications will not confer any right on a candidate to be called for interview. Candidates found suitable will be waitlisted. Final selection will depend, inter-alia, on verification of character & antecedents, medical fitness and verification of genuineness of sports certificates to the Bank’s satisfaction. The brief details are as under : 

Name of the Post: Assistant/Office Attendant (Sportspersons)

Total no. of Posts: 53 Posts

Pay scale:

• Assistant: Rs.22,732 per month
• Office Attendant: Rs.15,631 per month

Educational qualification

• Assistant: Candidate should have Bachelor Degree in any discipline and it should be from the University within the Recruitment Zone.
• Office Attendant: Candidate should be minimum 10th passed and it should be within the Recruitment Zone.

Age Limit :  Candidate’s age must be between 18 to 26 years as on 1 July 2014.

(Relaxation in Age  is applicable as per rules.)

Application Fee : Candidates must pay the fee of Rs.100/‐ in the form of Account Payee Demand Draft (DD) drawn in favour of “Reserve Bank of India” and payable at respective centre where the application is submitted. SC/ST candidates are exempted from payment of fee.

Selection Process : Candidates will be selected on the basis of Selection trials and interviews. Final selection will depend, inter‐alia, on verification of character & antecedents, medical fitness and verification of genuineness of sports certificates to the Bank’s satisfaction.

How to apply :  Eligible candidates may apply through prescribed application format. Application Form, duly complete in all respect, along with DD, Latest passport size photograph, Xerox copies of relevant certificates with regards to qualifications acquired and Copies of certificates relating to efficiency/merit in games/sports from authorities like District/State Sports associations etc. should be sent by ordinary post to the Regional Director, Reserve Bank of India, Recruitment Section, at respective centre where the application is submitted as given in notification before 21 July 2014.  Applications may also be deposited in a special box kept at the Bank’s Building from 10.00 A.M. to 5.00 P.M. on weekdays except on Saturdays, Sundays and holidays.  The cover containing application form should be superscribed “For recruitment of Sportspersons”. 

Important Date

Last Date of Receipt of Application forms: 21 July 2014

For more details Click Here

Reserve Bank of India Recruitment of Officers in Grade 'B' (General) – (Direct Recruitment - DR) 2014-15

Friends,

Reserve Bank of India, India's Central Bank invites applications from eligible candidates for the posts of Officers in Grade 'B' (General) through Direct Recruitment. The interested candidates can apply in ONLINE mode only through the link provided on the official website of RBI. No other means/mode of application will be accepted. Before applying, candidates should ensure that they fulfill the eligibility criteria for the post. Candidates need not submit /send at any address, application printouts or any certificates or copies thereof at the time of ON-LINE application (No OFFLINE / hard copy of applications will be accepted). If at any stage, it is found that any information furnished in the ON-LINE application is false/ incorrect or if according to the Board, the candidate does not satisfy the eligibility criteria for the post, his/ her candidature will be cancelled and he will not be allowed to appear for interview. The brief details are as under : 

Name of Post : Officers in Grade 'B' (General) – (Direct Recruitment - DR)

No. of Posts : 98 Posts (General = 49, SC= 15, ST= 07, OBC=27)

Candidates belonging to OBC category but coming in the 'Creamy Layer' are not entitled to OBC reservation. They should indicate their category as 'General (GEN)'.

Out of 98 vacancies mentioned above, 3 vacancies are reserved for candidates belonging to Persons with Disability (PWD) category - one vacancy each for Orthopedically Handicapped (OH), Hearing Impaired (HI) and Visually Handicapped (VH). Persons with Disability may belong to any category - GEN/SC/ST/OBC.

Age Limit (as on 01/06/2013): Between 21 and 30 years (candidates must have been born not earlier than 02/06/1983 and not later than 01/06/1992). For candidates possessing M.Phil. and Ph.D. qualification, upper age limit will be 31 and 33 years respectively. For candidates having experience as an officer in Commercial Bank/Financial Institution in Public Sector, upper age limit is relaxed to the extent of number of years of such experience subject to a maximum of three years. For such candidates, upper age limit should not exceed 33 years including experience. For experience, probationary period will not be reckoned. Refer item 5 below for relaxation in upper age limit for specified categories.

Educational Qualifications (as on 01/06/2013):

• A First Class Bachelor's Degree with a minimum of 60% marks or an equivalent grade, in aggregate of all semesters / years ; 
• OR A Second Class Master's Degree with minimum of 55% marks or an equivalent grade, in aggregate of all semesters / years; 
• OR A Doctorate Degree; with minimum of 50% marks or an equivalent grade, in aggregate of all semesters / years in Master's Degree; 
• OR  A Chartered/Cost Accountant/Company Secretary (ACS) with a Bachelor's Degree; 
• OR A Post Graduate Diploma in Management / MBA qualification from institutions recognized by Government of India / University Grants Commission, with Graduation / Bachelor's Degree.

Application Fees : Rs. 400/- (Rupees four hundred only).

No fee is payable by SC/ST/PWD candidates. Fees are required to be paid only in the manner prescribed in this advertisement (item 8 below). Fees once paid will not be refunded under any circumstances.

Pay Scale:  Selected Candidates will draw a starting basic pay of Rs.21,000/- p.m. in the scale of Rs.21000-1000-30000-EB-1000-32000-1100-36400 applicable to Officers in Grade B and they will also be eligible for Dearness Allowance, Local Allowance, House Rent Allowance, Family Allowance, and Grade Allowance as per rules in force from time to time. At present, initial monthly Gross emoluments are approximately Rs.47,855/-.

How to Apply : Candidates have to apply only ON-LINE through the Bank's website i.e. www.rbi.org.in from 12/06/2013 to 11/07/2013. Detailed instructions for applying ON-LINE are available on the website. Candidates need not submit the system generated print out (hard copy) of the ON-LINE application to the Board's office.

Pre-Requisites for Applying ON-LINE: Before applying online, candidates should:

• Scan their photograph and signature as detailed under guidelines for scanning the photograph and signature in item 10 of the advertisement.
• Keep the necessary details/documents ready if desired to make ON-LINE

Payment of the requisite application fee (In case of OFF-LINE Payment i.e. CBS, candidates have to apply ON-LINE, obtain a fee payment challan and then remit the necessary application fees).

Candidates should have a valid E-mail ID which should be kept active till the declaration of final result. This is essential for him/her in getting Admission Letter (AL) / Interview advice, etc. by E-mail. No change in E-mail ID will be entertained during the entire process of recruitment.

Application Fees are payable from 12/06/2013 to 11/07/2013 (ON-LINE Payment) and 14/06/2013 to 15/07/2013 (OFF-LINE Payment) both dates inclusive.

• No fees for SC/ST/PWD candidates.
• Rs. 400/- for all others

Bank Transaction charges for OFF-LINE/ ON-LINE Payment of application fees will have to be borne by the candidate

Important Dates : 

• Commencement of ON-LINE application : 12/06/2013
• Last date of Payment of Fees - ON-LINE : On the date of application but not later than 11/07/2013
• Last date of Payment of Fees - OFF-LINE : Within three working days of application but not later than 15/07/2013
• Last date for filing ON-LINE application : 11/07/2013

For More Information Click Here

RBI Recruitment of Grade B Officers 2014-15

Friends,

Reserve Bank of India (RBI), India's Central Bank invites applications from eligible candidates for the posts of Grade 'B' Officers. The notification in this regard has been posted in the Employment News/ Rozgar Samachar. The interested candidates can apply in ONLINE mode only through the link provided on the official website of RBI. No other means/mode of application will be accepted. The candidates are advised to ensure their eligibility before applying for these posts. The selection of candidates will be made on the basis of their performance in written examination Preliminary and Descriptive) and Interview.The brief details are as under : 

Name of the Post: Grade “B” Officers (POs)

Number of Posts: 117 Posts (SC: 13 Posts, ST: 08 Posts, OBC: 38 Posts, General: 58 Posts)

Age Limit: Candidates age should be between 21 years to 30 years as on 01-04-2014. In other words candidates must have been born not earlier than 02-04-1984 to 01-04-1993 (Both days inclusive). Age relaxation is applicable as per the rules and it will be considered as on 01-07-2014.

Educational Qualifications: Candidates must possess the following qualification.

A First Class Bachelor's Degree with a minimum of 60% marks or an equivalent grade OR
A Second Class Master's Degree with a minimum of 55% marks or an equivalent grade OR
A Doctorate Degree with 50% marks in Master's Degree or equivalent grade OR
Chartered/Cost Accountant/Company Secretary (ACS) with a Bachelor's Degree OR
A Post Graduate Diploma in Management /MBA qualification from institutions recognized by Government of India/ University Grants Commission, with Graduation / Bachelor's Degree.

Application Fee: The detail will be updated soon.

                                                                                   

How to Apply : The interested candidates who wish to apply for RBI Grade B Officers 2014 for Grade “B” Officers posts in Reserve Bank of India, are required to apply through online mode on RBI’s official website at www.rbi.org.in. After submission of online application candidates are required to take print out of the system generated online application form for further use. Before start filling online application, make sure candidates have scanned copies of Photograph and Signature.

Important Instructions 

• Log on to RBIs official website at www.rbi.org.in.
• Navigate to Recruitment Section.
• Now Click on “Recruitment of Grade “B” Officers”.
• Now fill all marked details and click on submit button.
• Upload Photograph and Signature.
• Now make payment as mentioned above.
• Once you are done with everything in the application form, click on submit button.
• At last, take print out of application form for future references.

Important Dates:

• Opening Date for Submission of Online Applications: 03-06-2014
• Last Date for Submission of Online Application: 23-06-2014
• Last Date for Payment of Application Form (Online): 23-06-2014
• Last Date for Payment of Application Form (Offline): 25-06-2014
• Date of Downloading Call Letter: 2014
• Date of Written Examination: 2014

RBI Says - No Minimum Balance Charges in Inoperative Bank Accounts

Friends,

Reserve Bank of India (RBI), India's Central Bank has issued a notification that no minimum balance charges will be charged by the Banks on Inoperative Bank Accounts. RBI in his First Bi-monthly Monetary Policy Statement, 2014-15 report mention that  Consumer protection is an integral aspect of financial inclusion. The Reserve Bank proposes to frame comprehensive consumer protection regulations based on domestic experience and global best practices. Banks should also not take undue advantage of customer difficulty or inattention. Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit services available on such accounts to those available to Basic Savings Bank Deposit Accounts and restore the services when the balances improve to the minimum required level. Banks should not levy penal charges for non-maintenance of minimum balances in any inoperative account.

Now RBI has released a notification dated 06.05.2014 and directed all banks not to levy penal charges on non maintenance of minimum balance in inoperative accounts .Though this rule is applicable on all type of saving bank account holders including person having single saving bank account  however this a major relief to all account holders ,who generally have multiple accounts and not able to operate /maintain minimum balance in each account.

The complete notification is given as under.

RBI/2013-14/580

DBOD. Dir.BC.No. 109 /13.03.00/2013-14

May 6, 2014

All Scheduled Commercial Banks

(Excluding RRBs)

Dear Sir/Madam

Levy of penal charges on non-maintenance of minimum balances in inoperative Accounts

Please refer to Part B of the First Bi-monthly Monetary Policy Statement 2014-15 announced on April 1, 2014, proposing certain measures towards consumer protection such as non-levy of penal charges for non-maintenance of minimum balance in any inoperative accounts.

2. In this connection, a reference is invited to our Circular DBOD. Dir. BC. 53/ 13.10.00/ 2002-03 dated December 26, 2002 on ‘Minimum Balance in Savings Bank Accounts’ advising banks to inform customers regarding the requirement of minimum balance in savings bank account and levy of penal charges for non-maintenance of the same at the time of opening the account in a transparent manner.

3. Further, in terms of para 3 of our Circular DBOD. No. Leg. BC.35/09.07.005/2012-13 dated August 10, 2012 on ‘Financial Inclusion- Access to Banking Services - Basic Savings Bank Deposit Accounts’ it was advised to banks that no charge should be levied for non-operation/activation of Basic Savings Bank Deposit Accounts (BSBDAs).

4. It is advised that henceforth banks are not permitted to levy penal charges for non-maintenance of minimum balances in any inoperative account. 

Yours faithfully,

(Prakash Chandra Sahoo)

Chief General Manager

Download Notification

Reserve Bank of India Recruitment of Junior Engineers 2014-15

Friends,

Reserve Bank of India, India's Central Bank,  invites applications from eligible candidates for the posts of Junior Engineers (Civil and Electrical). The interested candidates can apply in ONLINE mode only through the link provided on the official website of RBI. Candidates should carefully fill in the details in the On-Line Application at the appropriate places very carefully and click on the “SUBMIT” button at the end of the On-Line Application format. Before pressing the “SUBMIT” button, candidates are advised to verify every field filled in the application. An online application which is incomplete in any respect such as without photograph and signature uploaded in the online application form will not be considered as valid. Before applying, Candidates should ensure that they fulfill the eligibility criteria for the post. Candidates are requested to apply online through Bank’s website www.rbi.org.in. The selection of the candidates  will be made on the basis of performance online examination and Interview. The brief details are as under : 

Name and Number of Posts:

• Junior Engineer (Civil): 09 Posts
• Junior Engineer (Electrical): 14 Posts

Total Number of Posts: 23 Posts 

Educational Qualifications (as on 01-02-2014):

Junior Engineer (Civil): Minimum three years Diploma in Civil Engineering from a recognized Institute or University or Board with minimum 65% of marks (55% for SC/ST/PWD) or Degree in Civil Engineering from a recognized University with 55% marks (45% for SC/ST/PWD).

Junior Engineer (Electrical): Minimum three years Diploma in Electrical or Electrical and Electronic Engineering from a recognized Institute or University or Board with minimum 65% of marks (55% for SC/ST/PWD) or Degree in Electrical or Electrical and Electronic Engineering from a recognized University with 55% marks (45% for SC/ST/PWD).

Experience Required:

Junior Engineer (Civil): At least 2 years experience for Diploma holder or at least 1 year experience for Degree holders in execution and supervision of civil construction work and/ or civil maintenance of office buildings/ commercial buildings/ residential complexes with basic knowledge of RCC design and other civil works, working knowledge of computers, experience in preparation of tenders for civil works, etc.

Junior Engineer (Electrical): At least 2 years experience for Diploma holder or at least 1 year experience for Degree holders in execution and supervision of electrical installations in large buildings/ commercial buildings having HT/ LT substations, central AC plants, lifts, UPS, DG sets, CCTV, Fire alarm system, etc.

Job Description:

Junior Engineer (Civil): Handling and supervision of civil construction/ maintenance/ interior works, etc. of building related infrastructural system and other related jobs in office buildings and residential colonies.

Junior Engineer (Electrical): Handling and supervision of electrical/ electro-mechanical/ electrical and electronics installations/ systems and other related jobs in office building and residential colonies.

Age Limit: Candidates age should be between 20 years and maximum 30 years as on date mentioned in notification. age relaxation will be given as per central govt rules for reserved category candidates only.

Application Fee: Rs.550/-+50/- for General & OBC and Rs.50/- only for SC/ PWD / ST category candidates have to pay through offline / online mode (Net banking/Credit card/ Debit card).

How to Apply: All Eligible candidates can apply through RBI Official portal at www.rbi.or.in. first log on to online application link, then fill all required details and enter your valid Email-Id, recent photograph while going to online fill application and finally take system generated application.

Important Dates:

• Last date for submission of online application form: 20.02.2014
• Date of Payment of Examination fee: 01.02.2014 to 25.02.2014
• Date of Online Test: 30.03.2014

For more details Download Advertisement

Recruitment Portal of RBI

Reserve Bank of India (RBI) Recruitment for various posts 2014-15

Friends,

Reserve Bank of India (RBI), India's Central Bank,  invites applications from eligible candidates for the 24 Posts of Assistant manager & Research Officer. The interested candidates can apply in ONLINE mode only through the link provided on the official website of RBI. No other means/mode of application will be accpted. The candidates are advised in their own interest to ensure their eligibility before applying for these posts. The selection of the candidates will be made on the basis of written test and interview. The brief details are as under : 

Name and Number of the Posts :

• Research Officer in Economics & Policy investigation Department: 10 Posts
• Research officers in Statistics & Information Management Department: 05 Posts
• Assistant Manager (Rajbhasha): 07 Posts
• Manager (Technical/ Civil): 02 Posts

Total Number of Posts: 24 Posts

Educational Qualifications: The detailed information regarding Educational Qualification will be published on the official website of RBI which could be downloaded from the link provided at the end of this post in few days. 

Age Limit: Candidates age should be between 21  and 30 years .

(Relaxation in Age will be given as per Government Rules.)

Application Fee : Candidates have to pay Rs. 400/- through online mode or offline mode. No fee for SC / ST / PWD candidates.

How to Apply: Eligible candidates can apply online through the website www.rbi.org.in from 21st January 2014 to 17th February 2014. Candidates should take the print out of the system generated application form and retain it for further assistance.

Important Dates:

• Starting Date of Online Application:21.01.2014
• Last Date of Online Application: 17.02.2014
• Date of deposition of Bank Challan in Bank: 23.01.2014
• Last date of bank challan deposit: 21.02.2014

Complete details will shortly be published on the official website for details check the mentioned link.

Detailed Advertisement

Reserve Bank of India (RBI) Recruitment 2013-14

Friends,

Reserve Bank of India (RBI) invites applications from eligible candidates for the posts of Assistant Manager (Security) in Grade 'A'. The interested candidates can apply on prescribed application form which could be downloaded from the official website of RBI and also from the link provided at the end of this post. No other means.mode of application will be accepted. The candidates are advised in their own interest to ensure their eligibility before applying for these posts. The selection of the candidates will be made on the basis of performance in Written Test and Interview. The brief details are as under : 

• Name of the Post : Assistant Manager
• Number of Posts: 34 Posts

Educational Qualifications: Candidates should be possess a bachelor degree or its equivalent. The complete advertisement will be published on the official website of RBI in due course of time. Candidates are advised to visit the site regularly for latest updates.  

Age Limit : The details will be updated shortly. 

(Relaxation in Age will be applicable as per Government rules.)

How to Apply : Candidates are required to submit applications through online mode only from official website of RBI at www.rbi.org.in . After completion of application process, take printout and should be reach to below address along with all relevant documents.

The General Manager, 

Reserve Bank of India Services Board, 

Post Bag No. 4618, 

Mumbai Central Post Office, 

Mumbai - 400008 

Important Dates:

• Opening date for online registration : 18 Nov 2013
• Closing date for submission of online application : 17 December 2013
• Last date for receipt of applications : 24.12.2013

For more details and Application Form Click Here

Reserve Bank of India (RBI) Recruitment of Officers

Friends,

Reserve Bank of India (RBI) invites applications from eligible candidates for the 98 posts of Officer Grade-B (General). The interested candidates can apply in ONLINE mode only through the link provided on the official website of Reserve Bank of India (RBI). No other means/mode of application will be accepted by RBI. Candidates are advised to ensure their eligibility before applying for these posts. There are a Total 98 Posts of Officer Grade-B (General) in Department of Economic and Policy Research. The bifurcation of these posts is (UR-49, OBC-27, SC-15, ST-7)(PWD-3). For further details along with submission of ONLINE Application Form, please visit the Offical website of RBI http://www.rbi.org.in. The link will be available on the website w.e.f. 12/06/2013 to 11/07/2013.  

B.Ed. Regular Course Admission for the Session 2013-14

Reserve Bank of India (RBI) - 525 Posts of Assistants for Graduates

Friends,

Reserve Bank of India (RBI) has issued a notification for Recruitment of 525 Posts of Assistants. The interested and eligible candidates having Indian Citizenship can apply for these posts. The candidate should have a Degree in Graduation from a recognized University/Board/Institute.  The candidates can apply in ONLINE mode only through the link provided on the official website of RBI. No other means/mode of Application will be accepted. The link for ONLINE Application will be activated between 30.05.2013 to 20.06.2013. The candidates are advised to ensure their eligibility before applying for these posts. The brief details are as under : 

• Name of Post : Assistant
• Number of Posts : 525 Posts 

Age Limit : The age of the candidates should be not below 18 years or above 28 years. A candidate belonging to SC or ST category can have age relaxation up to five years. This is allowed up to 31 years. OBC class is allowed three years relaxation. Such candidates should not be above twenty nine years. 

Educational Qualification : The minimum educational qualification as required by an applicant for the post of an Assistant is at least a Bachelor’s Degree. The degree should be from a recognized university or board which is recognized and  A certificate of having passed class X Board is required by an applicant applying for the post of Office Assistant. For detailed information read Reserve Bank of India Recruitment 2013 - 2014 advertisement, link given below of this post.

Selection Process:-

All candidates who pass the eligibility test are called for written examination and interview.. Qualifying candidates will be eligible for qualifying interview. The whole of selection procedure will only be conducted at the above mentioned offices which fall under the recruitment zone. Final word from selection Board of RBI will decide the name of the selected candidate. Selected candidates will be included in the waiting list. Character, medical fitness, sports certificates and other verification are deciding factors for the final candidate list for the posts.

How to Apply : Applications should file online application form for RBI Assistant Recruitment project at www.rbi.org.in between 30th May 2013 to 20th June, 2013

Important Dates : 

• Start of ONLINE Registration          : May  30, 2013
• Last Date for ONLINE Registration : June 20, 2013

For mor information and details Download Advertisement

Having Problem to Open an Account in Bank - No Introduction Required Says RBI

Friends,

No Introduction From Existing Account Holder Required–There is general problem to prospective customers to open a Bank account at new place as they have minimum documents and further they have no person to provide introduction .RBI has recently issued a notification and relaxed the condition of introduction by other another customer and now no need to provided introduction by other customer any more. The RBI has, hence, completely done away with this requirement and has specified that banks should not insist on introduction for opening bank accounts of customers.

Single Document Submission For Identity And Address Proof– As of now, banks have been insisting on two separate sets as documents for identity and address proof as per the RBI guidelines despite the fact that documents for identity proof (Passport, PAN Card, Drivers’ Licence etc.) also carry the address of the individual concerned.

This is set to change. As per the latest RBI notification, if the address on the document submitted for identity proof by the prospective customer is same as that declared by him/her in the account opening form, the document may be accepted as a valid proof of both identity and address.

SSC Recruitment of Inspectors I.Tax/Central Excise/ Assistants/ Auditors/ Jr. Accountants/ Accountants/ Tax Assistants etc. - Combined Graduate Level (Tier-I) Examination-2013

RBI/2012-13/342

UBD.BPD (PCB) Cir. No. 28/14.01.062/2012-13

December 19, 2012

The Chief Executive Officer of

All Primary (Urban) Co-operative Banks

Madam/Dear Sir,

Know Your Customer (KYC) norms /Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002

Please refer to our Master Circular UBD.BPD. (PCB) MC.No.16/12.05.001/2012-13 dated July 2, 2012 on Know Your Customer (KYC) norms / Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligations of banks under PMLA, 2002. The KYC guidelines were formulated to protect the financial system against threat of money laundering/terror financing and frauds. However, it has been brought to the notice of Reserve Bank that some of the provisions made in this regard or their implementation by banks have led to avoidable inconvenience to public and also hindered the efforts at financial inclusion.

2. In this connection, we invite your attention to paragraph 101 (extract enclosed) of the Second Quarter Review of Monetary Policy 2012-13 announced on October 30, 2012, proposing to review the existing KYC norms for simplifying them within the provisions of PML Act/Rules and international standards. Accordingly, it has been decided to effect the following modifications in the existing provisions:

Municipal Corporation of Delhi Recruitment 2013

(i) Opening of new accounts – Proof of identity and address

An indicative list of the nature and type of documents/ information that may be relied upon for customer identification is given in Annex I of the aforesaid Master Circular. Paragraphs 2.4 (d) and (e) of the Master Circular clearly state that the said list is only indicative and not exhaustive. For accounts of individuals, separate sets of indicative documents have been listed for identity and for address verification in Annex I. Consequently, banks have been calling for separate documents for verification of identity and address even though the documents for identity proof (Passport, Drivers’ Licence etc.) also carry the address of the individual concerned. In view of this, customers frequently complain about the requirement of producing two sets of documents, one each for identity and address proof.

To ease the burden on the prospective customers in complying with KYC requirements for opening new accounts, it has now been decided that:

If the address on the document submitted for identity proof by the prospective customer is same as that declared by him/her in the account opening form, the document may be accepted as a valid proof of both identity and address.

If the address indicated on the document submitted for identity proof differs from the current address mentioned in the account opening form, a separate proof of address should be obtained. For this purpose, apart from the indicative documents listed in Annex I of the Master Circular, a rent agreement indicating the address of the customer duly registered with State Government or similar registration authority may also be accepted as a proof of address.

Intelligence Bureau Recruitment of ACIO -2013

(ii) Introduction not Mandatory for opening accounts

Before implementation of the system of document-based verification of identity, as laid down in PML Act/Rules, introduction from an existing customer of the bank was considered necessary for opening of bank accounts. In many banks, obtaining of introduction for opening of accounts is still a mandatory part of customer acceptance policy even though documents of identity and address as required under our instructions are provided. This poses difficulties for prospective customers in opening accounts as they find it difficult to obtain introduction from an existing account holder.

Since introduction is not necessary for opening of accounts under PML Act and Rules or Reserve Bank’s extant KYC instructions, banks should not insist on introduction for opening bank accounts of customers.

(iii) Acceptance of Aadhaar letter for KYC purposes

Unique Identification Authority of India (UIDAI) has advised Reserve Bank that banks are accepting Aadhaar letter issued by it as a proof of identity but not of address, for opening accounts. As indicated at paragraph 2 (i) above, if the address provided by the account holder is the same as that on Aadhaar letter, it may be accepted as a proof of both identity and address.

(iv) Acceptance of NREGA Job Card as KYC for normal accounts

In terms of paragraph 2.7 (B) (b) of the Master Circular, accounts opened only on the basis of NREGA Job Card are subject to limitation applicable to ‘Small Accounts’ as prescribed in our circular UBD.BPD.(PCB) No.38/12.05.001/2010-11 dated March 15, 2011. This has caused inconvenience to customers, who are mostly from rural areas.

In modification of instructions quoted above, banks are advised that they may now accept NREGA Job Card as an ‘officially valid document’ for opening of bank accounts without the limitations applicable to ‘Small Accounts’.

Delhi Police Recruitment- 2013

(v) Accounts with Introduction

The provisions for opening of bank accounts with restrictions on total credits and outstanding balance, with introduction from an existing account holder or other evidence of identity and address to the satisfaction of the bank, were made to help persons who were not able to provide ‘officially valid documents’ for opening accounts. In view of provisions for 'Small Accounts' being included in the PML Rules, the extant instructions for opening of 'Accounts with Introduction' as prescribed in our circular UBD.BPD.PCB.Cir.11/09.16.100/2005-06 dated August 23, 2005 and in paragraph 2.6 of the Master Circular stand withdrawn.

It has been brought to our notice that banks are not promoting opening of ‘Small Accounts’ for greater financial inclusion. Banks are, therefore, advised to open ‘Small Accounts’ for all persons who so desire. It is reiterated that all limitations applicable to ‘Small Accounts’ should be strictly observed.

3. Banks should review their KYC policy in the light of the above instructions and ensure strict adherence to the same.

Yours faithfully,

(A. Udgata)

Chief General Manager-in-Charge

Encl: As above

NEW CTS CHEQUE BOOK DATE EXTENDED TO 01.04.2013

Friends,

The Reserve Bank of India (RBI) has extended the deadline for implementing the Cheque Truncation System 2010 ( CTS- 2010) by another three months. This is the second such extension. Banks have now been asked to ensure all cheques are compliant with CTS- 2010 standards by April 1, 2013. The earlier deadline was December 31, extended from October 1. In a circular(Given below)to banks, RBI also said, “ Residual non- CTS2010 Standard cheques that get presented in the clearing system beyond this extended period ( March 2013) will continue to be accepted for clearing but will be cleared at less frequent intervals.” It, however, indicated it might impose some fee for such cheques after March and how to do so was being discussed

Standardisation and Enhancement of Security Features in Cheque Forms-Migrating to CTS 2010 standards

A reference is invited to our circular DPSS.CO.CHD.No. 399/04.07.05/2012-13 dated September 3, 2012 advising all banks to arrange to issue only multi-city/payable at par CTS-2010 standard cheques not later than September 30, 2012 and to withdraw the non-CTS-2010 Standard cheques in circulation before December 31, 2012 by creating customer awareness. Further, banks holding post-dated EMI cheques (received either on their own behalf or on behalf of their NBFC clients) were advised to ensure the replacement of non-CTS-2010 Standard cheques with CTS-2010 standard cheques before December 31, 2012.

2. While most of the banks have confirmed that they are issuing only multi-city/payable at par CTS-2010 standard cheques at present, representations have been received from various stakeholders requesting for extension of the time beyond December 31, 2012 for withdrawal / replacement of non-CTS-2010 Standard cheques / post-dated EMI cheques with CTS-2010 standard cheques.

3. Taking into consideration these representations, it has been decided to extend the time up to March 31, 2013 for banks to ensure withdrawal of non-CTS 2010 Standard cheques and replace them with CTS-2010 Standard cheques. However, it may be noted that the residual non-CTS-2010 Standard cheques that get presented in the clearing system beyond this extended period will continue to be accepted for the clearing but will be cleared at less frequent intervals. The modalities, charges applicable if any, etc. are being discussed with stakeholders and a separate communication will follow in this regard.

4. The above instructions are issued under section 18 of the Payment and Settlement Systems Act 2007 (Act 51 of 2007).

5. Please acknowledge receipt and ensure withdrawal of non-CTS-2010 Standard cheques within the extended target date indicated above.

Yours faithfully,

(Vijay Chugh)

Chief General Manager

Validity of Your Cheque Books is up to 31.12.2012 - Says RBI

Friends,

Reserve Bank of India (RBI) has issued a circular to start CTS-2010 Standard based cheque system for Standardization and enhancement of Security Features in Cheque Forms. RBI has issued instructions to all Nationalised Banks to implement this system w.e.f. 01.12.2013. As per RBI guidelines, there have been certain changes made to the cheques issued by the Bank. However, these changes are available only in cheque books issued after August 2011. If you have obtained the cheque book prior to this, the cheques will not be valid after December 31, 2012. After this date the old cheques will not be accepted by Banks and your transactions may be held up. So replace your old cheques with new ones from the concerned Bank where you have your Account. The new CTS-2010 Standard cheques will have a standardized watermark, with the words “CTS-INDIA” which can be seen when held against any light source. This would make it difficult for any fraudster to photocopy or print an instrument since this paper would be available only to security printers handling cheque printing. The cheques should have a VOID panto-graph (At Printing Stage) which means Panto-graph with hidden / embedded “COPY” or “VOID” feature shall be included in the cheques. This feature should not be visible on the scanned image at the resolution specified in CTS but should be clearly visible in photocopies and scanned colour images as resolution used in such cases would be above the prescribed CTS standards. This would act as a deterrent against colour photocopy or scanned colour images of a cheque and a Bank’s logo printed with invisible ink (ultra-violet ink). There are some other features of CTS-2010 Standard Cheque which could be read in the notification issued by RBI and also Download the same from the link given below. 

Meanwhile , State Bank of India has published an advertisement in news papers as on 05.11.2012 .The advertisement  as given in HT (Hindustan Times Page -3 Chandigarh Edition ) is reproduced here under.

So go to your Bank and get issued the New CTS-2010 Standard base Cheque Book to avoid further difficulties.  

Download RBI guidelines in this regard. 

Issue multicity / payable cheques by CBS enabled banks branches :RBI

Friends,

RBI has advised banks to issue only  multi city /Payable at par cheque books to their customers where Bank branches are CBS (core Banking solution). These are not mandatory instructions but being a nodal agency RBI recommendations are generally followed with great respect.Moreover RBI has also clarified that being the payable at par cheques are treated as Local cheques ,Charges should also not be levied for collection of such cheques also.Further Nodal bank has also directed the Banks to publish their policies about the payable at par cheques on Bank website also.

Instruction issued in this regard has been reproduced here under.

As you are aware, various Core Banking Solutions (CBS) implemented in banks marked a paradigm shift in Customer Services. Customers of a branch are now the bank's customers as they can access their accounts from any branch for defined purposes. The new opportunities offered by CBS have enhanced customer service by way of offering various payment products and channels resulting in speedy movement of funds across the country. Leveraging the CBS, banks have started issuing “payable at par” / “multi-city” cheques to select customers with separate transaction codes (29, 30 and 31) by putting in place infrastructure for processing such cheques at all CBS enabled branches.

2. In this regard, Reserve Bank of India had suggested vide its circular DPSS. CO. No. 644 / 03.01.02 / 2007-08 dated October 31, 2007, that the facility of “payable at par” / “multi-city” cheques should be made available by all the CBS enabled banks to all the eligible and requesting customers taking into consideration the availability of CBS in more than 35, 000 bank branches at that time.

3. On a review of the practice followed by banks in this regard, it has been observed that banks are issuing these types of cheques differently. While a few banks are issuing “payable at par” / “multi-city” cheques with value cap, some other banks issue these cheques as per category of account (High Net-worth Customers). Instances of levying intersol charges when such cheques are cleared at other than the base branch city have also come to our notice.

4. Taking into consideration the availability of processing infrastructure for clearing outstation cheques at all clearing locations across the country and to bring about further efficiency in cheque clearing, all CBS enabled banks are hereby advised to issue only “payable at par” / “multi-city” CTS 2010 Standard cheques to all eligible customers. Appropriate Board approved risk management procedures based on risk categorization of accounts may also be put in place. Since such cheques (payable at par) are cleared as local cheques in clearing houses, customers should not be levied extra charges. The updated Board approved policy of banks in this regard may be placed on the web-site of banks, customers notified and a copy thereof forwarded to us.

5. The above instructions are issued under Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007).

RBI Prohibits Cutting-Alteration-Correction on Cheque

Friends,

CUTTING-ALTERATION-CORRECTION ON CHEQUE NOT ALLOWED-RBI

Recently RBI (Reserve Bank of India) has issued a notification .In this Notification RBI has released some new features to be added in Cheque leafs in 2010.Further RBI has also directed that there should be no cutting/correction/alteration in amount in Figures ,Amount in words ,or in Payee name or any where else on the cheque except on date and that is only for date validation(extension of cheque date) purpose.And if there is cutting /alteration in cheque other than date extension then cheque will be of no use.Customer has to issue fresh cheque if there is cutting in figure,words,payee name or bank account.

The benchmark prescriptions shall be known as "CTS-2010 standard", specifications of which are annexed. Effective date of implementation of the standard will be advised to you in due course. It is our intention that the revised cheque standard is implemented by banks before the roll-out of CTS at Chennai. IBA and NPCI will be co-ordinating and advising banks on introduction of additional security features on cheques as also other aspects relating to implementation of the standard across the country

Features that is to be included in New cheque issue and processing instructions are given below:-

Mandatory features

Prohibiting alterations / corrections on cheques : No changes / corrections should be carried out on the cheques (other than for date validation purposes, if required). For any change in the payee’s name, courtesy amount (amount in figures) or legal amount (amount in words), etc., fresh cheque forms should be used by customers. This would help banks to identify and control fraudulent alterations. 

Printing of account field : All cheques should, as far as possible, be issued with the account number field pre-printed. This should be considered must for current account holders and corporate customers.

VOID pantograph (At Printing Stage): Photograph with hidden / embedded “COPY”or “VOID” feature shall be included in the cheques. This feature should not be visible on the scanned image at the resolution specified in CTS but should be clearly visible in photocopies and scanned colour images as resolution used in such cases would be above the prescribed CTS standards. This would act as a deterrent against colour photocopy or scanned colour images of a cheque.

Paper (At Manufacturing Stage) : Status quo shall be maintained in relation to paper specifications as it exists currently. Details of current specifications are contained in the document 'Mechanised cheque processing using MICR technology - Procedural Guidelines', available at - http://www.rbi.org.in/scripts/Publication. Additionally, paper should be image friendly and have protection against alterations by having chemical sensitivity to acids, alkalis, bleaches and solvents giving a visible result after a fraudulent attack. CTS-2010 Standard paper should not glow under Ultra-Violet (UV) light i.e.,it should be UV dull. This shall ensure that the feel of cheques is uniform across banks.

Watermark (At Manufacturing Stage) : All cheques shall carry a standardized watermark, with the words “CTS-INDIA” which can be seen when held against any light source. This would make it difficult for any fraudster to photocopy or print an instrument since this paper would be available only to security printers handling cheque printing. The watermark should be oval in shape and diameter could be 2.6 to 3.0 cms. Each cheque must hold at-least one full watermark. Sample watermarks that would be used in CTS will be finalized in consultation with Indian Banks’ Association (IBA) / National Payments Corporation of India (NPCI) and could (illustratively) appear as under -

Bank’s logo printed with invisible ink (ultra-violet ink) (At Printing Stage) :Bank’s logo shall be printed in ultra-violet (UV) ink. The logo will be captured by / visible in UV-enabled scanners / lamps. It will establish genuineness of a cheque. 

Field placements of a cheque : Placement of significant fields on the cheque forms shall be mandated. However, placement of additional fields shall be left to banks. This will enable data capturing by Optical / Image Character Recognition (OCR / ICR) engines in offline mode and help banks in automating their payment processes. A sample cheque with recommended field placements is placed at  below.

Mandating colours and background : Light / Pastel colours shall be mandated for cheques so that Print / Dynamic Contrast Ratio (PCR / DCR) is more than 60% for ensuring better quality and content of images. The colours will be finalized in consultation with IBA / NPCI.

Clutter free background : Background of cheques shall be kept as clutter free as possible for improving quality and clarity of images. 

Use of UV feature on cheque images : Though bank’s logo in UV ink is a strong deterrent for forgery and duplicate cheques, there are challenges in terms of increased image size, stabilization of UV technology in CTS environment, availability of UV-enabled scanners, etc., in implementing this feature. However, the benefits outweigh the limitations and hence this feature shall be incorporated. Presenting banks can subject instruments beyond a threshold value to UV verification using the UV lamps currently available for currency note verification. In case UV technology stabilises in future, the UV image view could be incorporated in CTS as an additional image view or by dropping one of the existing image views.

MICR Code and IFSC Code on Passbook/Statement of Account

Friends,

The technology is growing very fast in India. The Banks situated in India are also growing very fast in this field. The facilities like as MICR Code, IFSC Code are increasing day by day which are used for RTGS, NEFT and NECS services by banks. But sometime the user does not know about the MICR Code or IFSC Code of the Branch in which he has the account. For this, the Reserve Bank of India has made it compulsory for all Banks to print MICR Code and IFSC Code on Passbook/Statement of Account. The circular regarding this is as under :-

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RBI/2011-12/516

DPSS (CO) RTGS No. 1934/04.04.002/2011-12

April 20, 2012

The Chairman and Managing Director /

Chief Executive Officer of all banks participating in RTGS, NEFT and NECS

Dear Sir/Madam,

Printing of MICR Code and IFSC Code on Passbook/Statement of Account

As you are aware, the MICR code is necessary for all Electronic Clearing Service (ECS – Credit and Debit) transactions. Similarly, the IFSC code is a pre-requisite for NEFT and RTGS transactions.

2. Currently, the MICR code is available on the cheque leaf along with the IFSC code of the branch. On a review it has been decided that this information should also be made available in the passbook / statement of account of the account holders.

3. Banks are accordingly advised to take necessary steps to provide this information as indicated above in all passbook / statement of account to their account holders.

4. Please acknowledge receipt and furnish an action taken report within 15 days of receipt of the circular.

Yours faithfully,

Chief General Manager

(Vijay Chugh)

WHAT IS MICR CODE : MAGNETIC INK CHARACTER RECOGNITION (MICR)

In MICR technology the information is printed on the instrument with a special type of ink which is made up of magnetic material. On insertion of the instrument in the machine, the printed information is read by the machine. MICR system is beneficial as it minimizes chances of error, clearing of cheques becomes easy and transfer of funds becomes faster in order to facilitate operations.

MICR code consist of 9 digit

First three digit (1-3) denotes city and are same/identical first three digit of your pin code

for example first three digit of Pin code of  New Delhi =110 so first three digit of MICR code of all the bank branches located in New Delhi must be 110.

4-6 digit denotes for Bank

each bank has given a three digit code,4-6 digit is= bank code eg. SBI code is "002"so 4-6 digit of MICR code all the the branches of SBI is "002" irrespective of location in the India.

(7-9) Last three digit denotes branch code,it is in serial wise ,means if Delhi has only one branch of SBI and its MICR code will be

110 (FOR CITY)

002 (FOR BANK)

001 (FOR BRANCH)

"110002001"

so if you are located in Delhi and your client has given you a MICR Code of the bank located in New Delhi , doesn't begin with "110",you can easily tell him your MICR Code is wrong.

What is IFSC Code

IFSC Code is Indian Financial System Code, which is an eleven character code assigned by RBI to identify every bank branches uniquely, that are participating in NEFT system in India. This code is used by electronic payment system applications such as RTGS, ,National Electronic Fund Transfer and CFMS.

The code is of 11 characters. The first part is the first 4 alphabet characters representing the Bank. Next character is 0(zero), this is reserved for future use. The branch code is the last six characters. To know what is IFSC Code deeply, go through the article fully. Otherwise, if you need IFSC Code of any branch, just follow the instructions below.

How to find IFSC code?

Normally, this 11 digit code will be printed on cheque book for NEFT enabled banks. Also, you can find bank IFSC code, bank details, branch address for all banks in India by following link. By using 4 steps you can easily find this code and branch location.