RBI/2024-25/73
CO.FIDD.PCD.BC.No.9/04-04-003/2024-25
September 02, 2024
All Scheduled Commercial Banks
Madam /Dear Sir,
Review of Extant Instructions – Withdrawal of Circulars
An internal review was carried out to identify and withdraw obsolete/ outdated/ superfluous instructions. Based on the same, the circulars listed in the Annex stand withdrawn with immediate effect in view of subsequent updated instructions issued on the subject matters.
Yours faithfully,
(Nisha Nambiar)
Chief General Manager-in-Charge
List of circulars withdrawn
Sr. No. Circular No. Date Subject Rationale for withdrawal 1. RPCD.No.SP.BC.14/PS.160-87/88 July 31, 1987 Credit facilities to Minority Communities The reporting formats prescribed in these circulars had been modified and the periodicity has been changed. The updated instructions are reflected in the Master Circular on Credit Facilities to Minority Communities dated April 01, 2023. 2. RPCD.No.SP.BC.45/PS.160-87/88 October 16, 1987 Credit facilities to Minority Communities 3. RPCD.No.SP.BC.46/PS.160/88-89 November 17, 1988 Credit facilities to Minority Communities 4. RPCD.CO.FID.BC.No.2433/12.01.012/2010-11 August 26, 2010 Opening of No-Frills accounts by students for availing various Government Scholarships The nomenclature “No frills account” has been discontinued, and the extant provisions of Basic Savings Bank Deposit Account (BSBDA) as normal banking service for all customers is in vogue. 5. RPCD.FID.BC.No.53/12.01.001/2010-11 February 14, 2011 Master Circular on Micro Credit The guidelines contained in the circular have been subsumed under Master Circular on SHG- Bank linkage dated April 1, 2024, Master Direction – Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 and Master Directions – Priority Sector Lending (PSL) – Targets and Classification