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  RBI & EXCHANGE CONTROL IN INDIA
Posted by: pradeep_iob - 06-08-2015, 08:16 PM - Forum: CAIIB-- Bank Financial Management - No Replies

REPORTING TO RBI -STATEMENTS AND RETURNS,
For the purpose of monitoring, RBI calls for certain returns 8.‘ statements from ADs. Some important statements are:
 Return — Fortnightly data for the purpose of compiling litalanceof .payments/monitoring transactions.
Authorized Dealers should report all transactions. made by them through. their Nostro Accounts abroad and
Vostro Accounts maintained with them inappropriate R Return, i.e. R Return (NOSTRO) and R Return (VOSTRO)
respectively, as laid down in the Guide to Authorized
Dealers for compilation of R Returns twice a month, at the close of business on 15th and the last day of calendar
month so as to reach Reserve Bank within seven calendar days from –the close .of reporting period to which they
relate.

AD Category - I Banks have to submit Bank-wise R-Retumpow (from the first fortnight of January 2009)

BAL STATEMENT - Statement showing balances in Nostro, Vostro accounts

NRDCSR-Consolidated _data on Non-resident deposits

INTERNATIONAL BANKING STATISTICS (IBS)-Quarterly data on all International Assets &Liabilities
XOS-Half yearly statement of Overdue Export RBI is empowered under statute to control and regulate the Foreign
exchange transactions, Forex reserves and policies related to inflows & outflows of Foreign exchange in the
country. It maintains the external value of the rupee both through policy measures and active intervention in the
markets when felt necessary. All transactions of Foreign exchange are governed by FEMA 1999', As per Se.c11
(1) of FEMA 1999, RE empowered to give directions in regard to Foreign Exchange transactions. Under Sec 11(3)
of FEMA 1999, RBI may after giving reasonable opportunities for hearing, impose on the authorized person, a
penalty which may extend to Rs.10,000/- (Rs. Ten thousand) for contravention of any direction given under FEMA
or failure to file any return under this act. In case of continuing contravention, an additional penalty which may
extend up to Rs.2,000/- per day for which such contravention continues may be imposed.
bills of US$ 25,000 and above

BEF-Half yearly Statement showing details of Import transactions where remittances have been effected but
evidence of Import not received (USD 100,000 & above).

FEMIS: Daily data on Forex dealing room operations

EBW: Half yearly statement showing Export Bills Written off (30 June & 31 December)

STAT-5: Statement of FCNR deposits (total inflow, outflow and outstanding under FCNR accounts)

STAT-8: Statement showing inflow/outflow of deposits under non-resident (external) rupee (NRE) accounts
scheme and NRO accounts scheme for the specified month

LRS- Liberalized Remittance Scheme of USD 2,50,000 for resident individuals: Monthly

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  INTERNATIONAL COMMUNICATIONS PAYMENT SYSTEMS
Posted by: priya_idbi - 06-08-2015, 08:07 PM - Forum: CAIIB-- Bank Financial Management - No Replies

INTERNATIONAL COMMUNICATIONS PAYMENT SYSTEMS

SOCIETY FOR WORLD WIDE INTER BANK FINANCIAL TELECOMMUNICATIONS (SWIFT):SWIFT an acronym for Society
for world wide inter-bank financial telecommunications is a joint, being exchanged physically. All foreign currency,
third country commercial payments are settled electronically.

FEDWIRE (USA): System of inter bank settlement operated by Federal Reserve Bank of USA. The facility is
available to member banks throughout USA. The .facility is available for paper instruments like cheques, demand
drafts also apart from online transactions. It is therefore available in both on-line and off-line formats. However, it
is restricted to US Dollar instruments only. It is not a general Inter-bank System but is restricted to Federal
Reserve Bank and Banks having their accounts with Federal Bank. It is meant for domestic settlements within
USA.
CHAPS (UK): Clearing House Automated Payments System (CHAPS) is the British equivalent to CHIPS, handling
receipts and payments in LONDON. This system also works on the net settlement system. non—profit cooperative
society owned by about 250 banks. Most of these are European and North American banks with
headquarter at Brussels. SWIFT is a world wide, computer based secure net work system and each member has
access to all the other members. It operates on a secure network. It is a large network of interconnected banks
and financial institutes facilitating secure international dealings. It eliminates the need to maintain multiple coding
systems with various correspondents and totally removes the risk of theft of code books, errors creeping as a
result of not updating of code books etc. Messages are delivered in uniform perform or formats. This reduces the
chances of misinterpretation or confusion. Besides being confidential, safe, self authenticated and swift in real
sense, the system reduces the cost of the transaction too.

CHIPS (USA): CHIPS stand for Clearing House Inter bank Payment System. It is an electronic payment system
and is jointly owned by New York house clearing association members. It processes more than a million
instruments daily without

TARGET (EURO): Trans-European Automated Real-Time Gross Settlement Express Transfer system is a EURO.
payment system comprising 15 national RTGS systems working in EUROPE.

RTGS-PLUS AND EBA (EURO): These are other Euro clearing system. RTGS plus, is a German hybrid clearing
system operating as a European oriented real time gross settlement and payment system with over 60
participants. The EBA-EURO-1, with a membership of over 70 banks, in all EU member countries, works as,a
netting system with focus on cross border Euro payments. For retail payments, EBA has another system, called
STE01, Wit* over 200 members across EU zone. STEP 2 is also in use in EU zone, which facilitates straight
through processing (STP) to Member banks, using industry standards.

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  FOREIGN EXCHANGE MARKET
Posted by: anupma - 06-08-2015, 08:00 PM - Forum: CAIIB-- Bank Financial Management - No Replies

FOREIGN EXCHANGE MARKET
Foreign Exchange as defined in FEMA means foreign currency and includes: I) All deposits, credits, balances
payable in any foreign currency and any drafts, travelers cheques, letters of credit and bills of exchange
expressed or drawn in Indian currency and payable in foreign currency; ii) Any instruments payable at the option
of the drawee or holder, thereof or any other party thereto, either in Indian currency or in foreign currency or
partly in one and partly in ttie other. In short, the term 'Foreign Exchange' means the process of converting one
national currency into another national currency and transferring money. In such conversions, the foreign
currency is always treated as a commodity and the home currency as the medium of purchasing power.

Foreign Exchange Market and its Participants

Banks and Customers who have to buy or sell foreign exchange.Inter-Bank dealings where sale and purchase
business is transacted between the banks themselves within the country. Dealings between domestic banks and
foreign banks.

TYPES OF FOREIGN EXCHANGE TRANSACTIONS

Inter-Bank Transactions: Sale or Purchase of FX between Banks and other Financial Institutions (Market
Participants).

Merchant Transactions: Sale or Purchase transactions with the customers are called merchant transaction.

FACTORS AFFECTING EXCHANGE RATES: Exchange rates in the market are the outcome of the combined
effect of a multiple of factors. They can be classified as Fundamental, Technical and Speculative factors. The
factors are:

BoP: Surplus BOP in a country strengthens its currency.

Economic growth rate: High growth rate fuels imports and weakens the local currency.

Fiscal Policy: An expansionary policy, normally leads to a higher economic growth which in turn fuels imports.

Monetary Policy: Central banks determine monetary measures to influence and control interest and money supply.

Interest Rates: Domestic interest rates if high, attracts overseas capital (FDI, FII) leading to an excess supply of
foreign currencies resulting into appreciation of domestic currency in the short term. However if high interest
rates continue for a long term, economy will slow down, weakening the currency.

Political Issues: Without Political stability, there can be no economic stability (detrimental to the value of the
currency).
Technical reasons in Exchange Rate determination: Government controls, which determine the inflow and
outflow of capital, are considered technical reasons.
Speculation - a major factor in Exchange Rate determination: Speculative trading is a reality in Forex
markets. It is estimated that the speculative trade to daily forex turnover is above 90%.

CORRESPONDENTS OF ACCOUNTS

Banks dealing in international trade and foreign exchange maintain accounts in various foreign countries for the
purposes of settlements. They also enter into drawing arrangements such as overnight or regular overdrafts
limits, agency arrangements for international remittances, collection of cheques / bills etc. The international
banks involved are termed as foreign correspondents and the concept of providing such services is called as
Correspondent Banking. In a Correspondent banking relation, it is not always necessary that an account
relationship should exist. Some of the services can be rendered without an account. However, for arrangements
like Cheque clearing, OD arrangements, accounts are needed. The accounts when maintained by
banks in a Correspondent Relationship are classified as follows:

NOSTRO ACCOUNTS: NOSTRO Account means "OUR ACCOUNT WITH YOU". It is a foreign currency account
maintained by a bank in domestic country with a bank in foreign country.

VOSTRO ACCOUNT: VOSTRO Account means, "YOUR ACCOUNT WITH US". It is an account of a foreign bank
being maintained in our country and with our bank. When. Vostro accounts are opened, KYC norms are compulsory in
India. Vostro accounts are to be operated in line with RBI guidelines.

LORO ACCOUNT: LORO Account means "THEIR ACCOUNT WITH THEM" This is an account of a third bank being
maintained by another or our bank.

MIRROR ACCOUNTS: These are dummy accounts maintained by banks to know actual position of their accounts
with the foreign correspondent banks. We may call it a pass-book of our accounts maintained with the
correspondents.

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  CAIIB COMPLETE BOOK PDF/WORD FILE REQUIREMENT
Posted by: yogeshvandra - 06-08-2015, 01:46 PM - Forum: CAIIB-- Advanced Bank Management - No Replies

Dear All friends,

Kindly upload/provide CAIIB complete material (PDF File/Word File from Macmillan Publications) for ABM, BFM and Elective paper from your side if you have. If anybody have the soft copy of complete book of all these subjects of CAIIB, request to provide/upload it here. You may call me on my mobile no 8123299495 and reach me at - yogesh143@yahoo.com

Regards

Yogesh H Vandra

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  Payment In Due COURSE (Sec. 10)
Posted by: manisha_sbi - 06-04-2015, 12:08 AM - Forum: MODULE A- REGULATIONS AND COMPLIANCE - No Replies

Payment In Due COURSE (Sec. 10)

a) in accordance with the apparent tenor of the instrument
b) in good faith and without negligence
c) to the person in possession of the instrument
d) under circumstances which do not afford a reasonable ground for believing that he is not entitled to receive payment of the amount mentioned therein

WHEN BANK SHOULD NOT PAY


1. Death of the drawer
2. Company in liquidation
3. Insane customers
4. Insolvent  drawers
5. Countermanding : on receipt of valid stop payment instructions from the drawer 

DISHONOUR OF CHEQUES (Sec. 138-147)

1. the cheque should have been issued for discharge of lawful liability 
2. cheque should be returned with the reason ' insufficient balance' but due to different judgments of supreme court  reason like refer to drawer , A/c closed , exceeds arrangement, payment stopped by drawer and effects not clear are treated equal to insufficient balance

3. the payee or holder in due course should give notice to drawer withing 30 days of return of cheque with the reason ' insufficient balance ' and demanding payment within 15 days of his receiving information of dishonour 

4. summery proceedings: Fine upto rs 5000 or imprisonment upto 1 year or both
5. regular proceedings : Punishment is fine upto double the amount of cheque or imprisonment upto 2  years or both

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  Crossing in cheques
Posted by: admin - 06-02-2015, 10:00 PM - Forum: MODULE B- FUNCTIONS OF BANKS - No Replies

GENERAL CROSSING (SEC 123) :  two parallel transverse lines on the face of the instrument with or without the words 'not negotiable'. A general crossing, as per Sec 126, is a direction to the paying bank not to pay a cheque across the counter.

SPECIAL CROSSING (SEC 124) :  where a cheque bears across its face, an addition of the name of a bank either with or without the words ' not negotiable', the cheque shall be deemed to be crossed specially, and to be crossed to that banker. in simple words, a special crossing is a direction to the paying bank for paying to that bank whose name is there on the face of the cheque

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  Corrections in JAIIB Books
Posted by: admin - 06-02-2015, 12:53 AM - Forum: MODULE A- INDIAN FINANCIAL SYSTEM - No Replies

The following corrections in JAIIB Books are being notified herewith to the students.

download the file.



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  Sample Questions-PRINCIPLES & PRACTICES OF BANKING
Posted by: admin - 06-01-2015, 08:05 PM - Forum: MODULE B- FUNCTIONS OF BANKS - No Replies

Quiz-PRINCIPLES & PRACTICES OF BANKING-1

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  Latest Sample Papper Legal
Posted by: aparna - 06-01-2015, 07:42 PM - Forum: MODULE A- REGULATIONS AND COMPLIANCE - No Replies

i m uploading Latest Sample Papper Legal.



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  KYC/AML/CFT/OBLIGATION OF BANKS UNDER PMLA 2002
Posted by: harpreet_kour - 05-29-2015, 10:36 PM - Forum: CAIIB-- Advanced Bank Management - No Replies

KYC/AML/CFT/OBLIGATION OF BANKS UNDER PMLA 2002



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