Monday, June 23, 2014

Citizen Charter by RBI


Reserve Bank has prepared Citizens’ Charter for delivery of services by its departments which have public interface.

Citizens’ Charter
I. Public Accounts Department
Sr. No.
Description of Service
Time taken for providing Service
1.
Delivery of receipted challans tendered with cashWithin 20 minutes (depending upon volume and cash tendered)
2.
Delivery of receipted challans tendered with cheques issued by Government departments maintaining accounts with Reserve Bank of IndiaWithin 30 minutes
3.
Delivery of receipted challans tendered with local cheques drawn on other banksAfter 3 clear working days
4.
Delivery of receipted challans tendered with outstation cheques7 days (for the four Metros)
15 days for other centers
5.
Submission of scrolls to Government departmentsOn next working day
6.
Submission of monthly statements to Government departmentsOn second working day of the following month
7.
Cash withdrawal by Government through cheques20 minutes (Depending upon volume of withdrawal)
8.
Receipt of debit/credit scrolls from agency banks and reimbursement of claims/settlementDay to day basis

II. Public Debt Office
Sr. No.Description of ServiceTime taken for providing Service
1.
Issue of Duplicate Securities
(a) Government Promissory (G.P.)Notes
3 months from the date of publication in the Government Gazette

(b) Duplicate ReceiptWithin two days of admission of claim
2.
Payment of Interest Warrant

(a) Stock CertificateOn due date

(b) Subsidiary General Ledger (SGL)On due date

(c) Savings BondsOn due date
3.
(a)Transfer
4 days

(b)Change of enfacement2 days from the date of receipt of special cancellation advice from the parent PDO

(c) Conversion
4 days
4.
Credit to SGL account
3 days
5.
Issue of scrip by debit to SGL
2 days
6.
Receipt of Securities for repayment
5 days
7.
SGL Transfer
1 day
8.
Registration of Power of Attorney and Certification
1 day
9.
Other Services

(a) Examination
1 day

(b) Certificate of Registry of sale power
1 day

(c) Renewal
6 days

(d) Withdrawal from safe custody
1 day
10.
Revalidation of Interest Warrant
1 day
11.
Registration of Nomination
1 day

III. Deposit Accounts Department
Sr. No.
Description of Service
Time taken for providing Service
1.
Transfer (of funds from one bank’s current account to another bank’s current account in RBI)Immediately once the instrument is received.
2.
Clearing
3 days
3.
Receipt of Cash15 minutes (depending on the volume of tender)
4.
Withdrawal of Cash20 minutes (depending on the volume of tender)
5.
Issue of Demand Draft
1 hour
6.
Issue of cheque books
20 minutes
7.
Furnishing of daily statement of accountsThe statements are available instantly for the account holders at their end online either in CBS-E-kuber portal or through Telebanking
8.
Refinance facility and disbursement of loans
Same day
The time frame indicates clear working days.

IV. Foreign Exchange Department
Sr. No.
Description of Service
Time taken for providing Service
1.
External Commercial Borrowing (ECB) /
Foreign Currency Convertible Bonds (FCCB)

Trade Credit under approval route
7 days

Post servicing of automatic cases
15 days

ECB/FCCB under approval route
30 days
2.
Foreign Investment

Transfer of Shares (requiring prior RBI approval)
40 days
Pledge of Shares
40 days
Issue of licence for Branch/ Liaison Office
40 days
Refund of advance remittance
7 days
Foreign Collaboration – General Permission Route (FC-GPR) to be taken on record
40 days
3.
Indian Investment Abroad

Investment in Overseas Joint Ventures and Wholly Owned Subsidiaries (not covered by automatic route)
40 days
Disinvestment of shares in Overseas Joint Ventures/ Subsidiaries
40 days
Other Overseas Investment under approval route
40 days
Allotment of Unique Identification Number (UIN)Instantly auto generated by the online reporting system
4.
Exports

Permission for waiving GR Form formalities for exports
7 days
Set Off / Write Off
7 days
Export receivables / payables outside ACU mechanism
7 days
Refund / retention of advance
7 days
Imports
Direct imports
7 days
Third country / Merchanting trade / Warehousing
7 days
Import receivables / payables outside ACU mechanism
7 days
Items under Schedule III of Current Account Transaction (CAT) Rules - release of exchange beyond the stipulated limits

(i) Travel related purposes
7 days
(ii) Non-travel related purposes
7 days
5.
Others
Issue / Renewal of Money Changer’s licence
40 days
Compounding of contraventions of FEMA
180 days

V. Issue Department
The availability and modes of services relating to banknotes and coins will undergo changes on account of implementation of the policy for shifting of retail functions pertaining to currency management services from RBI to the commercial banks. The Citizens’ Charter is being appropriately modified to incorporate the above.
Notes:
These timelines are indicative and exclude the date of submission of the application and are subject to the application being complete in all respects.
If departments are likely to exceed the timeline, they will revert to the applicant.
In case an applicant does not get a response within the indicated timeline, they can approach the head of the concerned department. The department head will respond with the status of the application, the reason for delay, request for additional information, if any, as well as the likely time for disposal of the application.

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