Tuesday 21 August 2012

Bank Should Not Engage Telemarketers

RBI DBOD Circular No.DBOD. No. FSD.BC.45/24.01.011/2008-09 Dated 17.09.2008 - Unsolicited Commercial Communications - National Do Not Call (NDNC) Registry
In pursuance of the direction issued by the Hon'ble Supreme Court in the case of Harsh Pathak vs. Union of India & others passed on July 31, 2008, wherein telemarketers not registered with Department of Telecommunication are not permitted to operate the telemarketing services, banks are directed to ensure that only DMAs/DSAs registered as telemarketer with DoT are engaged by them and any employment not in consonance of these direction would be deemed to be a violation of Hon'ble Supreme Court's above direction
RBI DBOD Circular No. DBOD.No.Ret.BC.43/ 12.02.001/2008-09 Dated 16.09.2008- Additional Liquidity support under Liquidity Adjustment Facility (LAF) under Section 24 of the Banking Regulation Act, 1949 due to Shortfall in Maintenance of Statutory Liquidity Ratio (SLR)
It has been decided by the RBI that scheduled banks may avail additional liquidity support under the LAF to the extent of up to one per cent of their net demand and time liabilities. Banks are advised to apply to the Reserve Bank in writing with a request not to demand payment of the penal interest thereon, in case of any shortfall in maintenance of SLR arising out of availment of this additional liquidity support under LAF and for any shortfall.
This measure of avail additional liquidity support is temporary in nature and will be subject to review on a continuous basis in consonance of the evolving liquidity conditions and will be accessible with effect from the LAF/SLAF auctions of September 17, 2008.
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