RBI Update - Gold Monetization Scheme (GMS), 2015 - Amendment
RBI has issued the notification regarding the Gold Monetization Scheme (GMS), 2015 - Amendment The following has been stated Reference Update – The amended provisions include an additional reference to a press release da…
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RBI Update - Master Directions - Reserve Bank of India (Priority Sector Lending – Targets and Classification) Directions, 2025
The Reserve Bank of India (RBI) has unveiled its revised guidelines on Priority Sector Lending (PSL), which will come into effect on April 1, 2025. The revised guidelines come with several important changes, each ai…
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RBI Update - Review of Priority Sector Lending (PSL) Target – Urban Co-operative Banks (UCBs)
Revised PSL Target for Urban Co-operative Banks (UCBs) The guidelines also revise the overall PSL target for Urban Co-operative Banks (UCBs). The new target mandates that UCBs must ensure that 60 percent of their Ad…
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RBI Update - Currency Chest operations on March 31, 2025
All branches of the banks dealing with Government receipts and payments are to be kept open for transactions on March 31, 2025 (Monday-Public Holiday), so as to account for the Government transactions in FY 2024-25 itsel…
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RBI Update - Treatment of Right-of-Use (ROU) Asset for Regulatory Capital Purposes
RBI has issued notification regarding treatment of Right-of-Use (ROU) Asset for Regulatory Capital Purposes The following has been stated The Reserve Bank of India clarifies that for regulatory capital purpose …
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RBI Update - Amortisation of additional pension liability - Implementation of Pension Scheme in Regional Rural Banks with effect from November 1, 1993 - Prudential Regulatory Treatment
In terms of NABARD circular NB.DoS.Pol.HO/2533/J-1/2019-20 dated December 12, 2019, Regional Rural Banks (RRBs) were earlier permitted to amortise their pension liability on account of RRB (Employee) Pension Scheme 2018 …
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RBI Update - Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021: Clarifications
The Reserve Bank has received queries and suggestions from banks and Indian Banks’ Association (IBA) on certain aspects of disclosures in the notes to accounts to the financial statements as well as on the notes and inst…
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RBI Update - Asian Clearing Union (ACU) Mechanism – Indo-Maldives trade
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to Subclause (a)(ii) of Clause (I) of Sub regulation 2 of Regulations 3 of Foreign Exchange Management (Manner of Receipt and Payment) Regulati…
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RBI Update - Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2024-25)
All Government transactions done by agency banks for the Financial Year 2024-25 must be accounted for within the same financial year. Accordingly, the following arrangements are put in place to report and account fo…
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RBI Update - Reporting and Accounting of Central Government transactions for March 2025
RBI has issued notification regarding Reporting and Accounting of Central Government transactions for March 2025 The following has been stated The Government of India has decided that the date of closure of res…
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