The Reserve Bank of India (RBI), on Monday, decided five more circulars, in consultation with the Centre, on public sector banks.
According, it has advised the public sector banks to carefully go through the list of circulars in the enclosed statement sent to the latter. In case, the instructions in the circular are relevant the banks are advised to ensure that suitable Board approved policies or procedures are drawn up for substituting the same, the RBI said.  The five circulars being referred to are delegating suitable powers to Chairman & Managing Directors(CMDs) on advances, waiver, vigilance arrangement in banks, robberies and standing committee on settlement services.
Subject to ceiling
The first states Board may delegate suitable powers to CMD subject to a ceiling of Rs 15 crore in case of banks having advances up to Rs 5,000 crore and Rs 30 crore of banks having advances beyond Rs 5,000 crore. The other laid down that the Board may delegate suitable powers to CMD for write off/waiver, remission etc. upto Rs 10 lakh. It stipulated that ED may be delegated powers to the extent of 75 per cent of those delegated to the CMD. Two others dwelt on measures to strengthen and revitalize the internal control and vigilancel machinery, besides on reporting of cases of bank robberies or dacoities or burglaries.
The fifth  relating to payment of fraudulent instrument — in respect of dispute between two banks – and reimbursement to account holder once forgery established