RBI Update - Reserve Bank of India (Government Securities Lending) Directions, 2023
RBI issued the Reserve Bank of India (Government Securities Lending) Directions, 2023 The following has been stated namely These Directions shall be applicable to all Government securities lending transactions,…
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RBI Update - Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023
These regulations shall be called the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023. Manner of receipt and payment. – Save as otherwise in a manner as provided in the Act or the rules…
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RBI Update - Trade Credit for imports into India – Submission of return on issuance of bank guarantees for Trade Credits on the Centralised Information Management System (CIMS)
It has been decided to shift the arrangement for reporting of quarterly data on issuance of guarantees for trade credits by AD banks, from XBRL platform to CIMS. The statement has been assigned return code- ‘R131’ on CIM…
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RBI Update - Rupee Drawing Arrangement - Submission of statement/return on CIMS Portal
It has now been decided that with effect from December 26, 2023, submission of the statement E through the XBRL site will be discontinued and shifted to the Centralized Information Management System (CIMS), which is Bank…
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RBI Update - CIMS Project implementation - Discontinuation of submission in legacy XBRL
AD Category-I banks were required to submit the following statements on XBRL site – (i) Statement on half yearly basis (end March/end September) showing the quantity and value of gold imported by the nominated banks…
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RBI Update - Liberalised Remittance Scheme (LRS) for Resident Individuals- Reporting of monthly return and daily transactions
It has now been decided that, with effect from December 26, 2023 , the submission of both the returns through the XBRL site will be discontinued and shifted to the Centralised Information Management System (CIMS), which …
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RBI Update - Reverse Repo transactions - Reporting in Form ‘A’ Return
The Reverse Repo transactions of a bank with non-banks (other institutions) should be reported as under: For original tenors up to and inclusive of 14 days - Not required to be reported in Form A. For origina…
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RBI Update - Card-on-File Tokenisation (CoFT) – Enabling Tokenisation through Card Issuing Banks
It has been decided to enable CoFT directly through card issuing banks / institutions also. This will provide cardholders with an additional choice to tokenise their cards for multiple merchant sites through a single pro…
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RBI Update -Investments in Alternative Investment Funds (AIFs)
In order to address concerns relating to possible evergreening through this route, it is advised as under: (i) REs shall not make investments in any scheme of AIFs which has downstream investments either directly or…
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RBI Update- Processing of e-mandates for recurring transactions
A reference is invited to our circular dated June 16, 2022, in terms of which relaxation in Additional Factor of Authentication (AFA) was permitted while processing e-mandates / standing instructions on cards, Prepaid Pa…
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