All Commercial Banks

Dear Sir / Madam,

Master Circular of Payment Systems’ Statements

It may be recalled that a basic Payment Systems oversight framework is in place and banks are submitting information pertaining to e-banking and payments of paper based instruments every quarter. A number of circulars and circular letters on the subject had been issued from time to time (attached as Annexures A). In order to improve accuracy, avoid repeated errors, ensure timely submission and add new variables, this “Master Circular” is being issued by consolidating all the previous instructions/circulars and incorporating new instructions where the same have been considered expedient. The information on the revised format will henceforth be submitted on one date of submission.

Accordingly the banks and switch operators are required to submit quarterly statements as per annexure I to IX (details attached as Annexure C) positively by 15th of the month following the quarter to which it pertains. The requisite statements for the first quarter i.e. July-September 2005 may be forwarded duly compiled as per this circular latest by 15th October 2005 complying with the following instructions:

(i) The statements may be electronically submitted to [email protected] before close of business hours on the date of submission.

(ii) The reports on Annexure “I” must be approved by officers not below the rank of head of operations, while those in Annexure “II to VI” must be approved by the head of e-banking/e-business respectively before submitting the same by e-mail.

(iii) Banks are advised to send the particulars viz names, designations, direct phone nos., fax numbers and e-mails of officers authorized to approve the statements latest by 15th September, 2005. The change of authorized officers must be timely communicated.

(iv) Banks are advised to ensure that information is supplied strictly on the original format (Excel Sheet Templates) attached with this circular without any amendment, addition, alteration.

(v) Standard Definitions and Clarifications explained in Annexure D shall be applicable for variables incorporated in this circular.

If you have any queries regarding this circular, please feel free to contact:

E-Banking Officer or Monitoring Officer on telephone numbers 021-2453416 or 021-2453444.