RBI Update - Sovereign Gold Bond (SGB) Scheme 2023-24
Government of India, has announced Series III and IV of the Sovereign Gold Bond Scheme 2023-24. Under the Scheme, there will be a distinct series (Series III and IV) which will be indicated on the Bond issued to the inve…
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RBI Update- International Trade Settlement in Indian Rupees (INR) – Opening of additional Current Account for export proceeds
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the A.P. (DIR Series) Circular dated July 11, 2022, in terms of which an additional arrangement has been put in place for invoicing, payme…
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RBI Update - Regulatory measures towards consumer credit and bank credit to NBFCs
RBI has issued the circular on Regulatory measures towards consumer credit and bank credit to NBFCs which states the following Consumer credit exposure of commercial banks It has been decided to increase the risk weights…
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RBI Update - Fully Accessible Route’ for Investment by Non-residents in Government Securities – Inclusion of Sovereign Green Bonds
It is decided to designate all Sovereign Green Bonds issued by the Government in the fiscal year 2023-24 as ‘specified securities’ under the FAR. Link - https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12563&…
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RBI Update - Regulation of Payment Aggregator – Cross Border (PA - Cross Border)
The developments that have taken place in the area of cross-border payments, it has been decided to bring all entities facilitating cross-border payment transactions for the import and export of goods and services under …
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RBI Update -Clarification regarding Shifting of Branches/Offices/Extension Counters within the same city, town or village by District Central Co-operative Banks (DCCBs) and Guidelines on Closure of Branches and Extension Counters by DCCBs
RBI has been receiving references seeking clarifications on shifting of branches within the same locality and closure of un-remunerative branches by District Central Co-operative Banks (DCCBs). It has been decided t…
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RBI Update -Banking Regulation (Amendment) Act 2020 - Change in Name of Co-operative Banks
A cooperative bank desirous of change in its name shall approach the Department of Supervision (DoS) of the concerned Regional Office (DoS, Central Office in case of Co-operative Banks coming under the purview of Mumbai …
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RBI Update - Joining the Account Aggregator Ecosystem as a Financial Information User
It has been observed that certain entities, which are eligible to join Account Aggregator (AA) ecosystem as Financial Information Provider (FIP), have onboarded as Financial Information User (FI-U) only. Consequently, su…
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RBI Update - Review of Financial Information Provider (FIP) under Account Aggregator Framework
The paragraph 3(1)(xi) of Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 defining the term ‘Financial Information Provider’. As per National Pension System (NPS…
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RBI Update - Review of Instructions on Bulk Deposits for Regional Rural Banks (RRBs)
“Bulk Deposit” for Regional Rural Banks would now mean Single Rupee term deposits of Rupees one crore and above. Link - https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12556&Mode=0
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