RBI Update - Non-Callable Deposits - Master Direction on Interest Rate on Deposits
It has been decided that the minimum amount for offering non-callable TDs may be increased from Rupees fifteen lakh to Rupees one crore i.e., all domestic term deposits accepted from individuals for amount of Rupees one …
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RBI Update -Framework for compensation to customers for delayed updation/ rectification of credit information
The Reserve Bank of India (RBI) on October 26 released the framework for compensation to customers for delayed updation or rectification of credit information by credit institutions (CIs) and credit information companies…
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RBI Update - Strengthening of customer service rendered by Credit Information Companies and Credit Institutions
It was announced that a comprehensive framework will be put in place for strengthening and improving the efficacy of the grievance redress mechanism and customer service provided by the Credit Institutions (CIs) and Cred…
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RBI Update - Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021: Presentation of unclaimed liabilities transferred to Depositor Education and Awareness (DEA) Fund
The ‘Notes and Instructions for compilation’ given in Annex II to the Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021 (Master Direction) require commercial banks to present al…
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RBI Update- Appointment of Whole-Time Director(s)
‘Corporate Governance in Banks - Appointment of Directors and Constitution of Committees of the Board’. Banks are advised to ensure the presence of at least two Whole Time Directors (WTDs), including the MD&CEO, on …
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RBI Update - Reserve Bank of India (Non-Banking Financial Company– Scale Based Regulation) Directions, 2023
The Reserve Bank of India, having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Reserve Bank to regulate the financial system to the advantage of the country an…
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RBI Update - Amendment to the Master Direction (MD) on KYC
It has been decided to amend the MD on KYC to: (a) Update certain instructions considering amendments to the PML Rules vide Government notifications dated September 4, 2023 and October 17, 2023; (b) Update Anne…
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RBI Update - Reverse Repo transactions - Reporting in Form ‘A’ Return
To bring uniformity in reporting of Reverse Repo transactions in the Form A Return by various banks, it is clarified that the banks should adhere to the following practice for presentation of Reverse Repo transactions in…
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RBI Update - Prompt Corrective Action (PCA) Framework for Non-Banking Financial Companies (NBFCs) – Extension to Government NBFCs
Reserve Bank of India introduced the PCA Framework for NBFCs on December 14, 2021. The Framework has since been reviewed and has been decided to extend the same to Government NBFCs (except those in Base Layer) with effec…
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RBI Update - Gold Loan – Bullet Repayment – Primary (Urban) Co-operative Banks (UCBs)
It has been decided to increase the monetary ceiling of gold loans that can be granted under the bullet repayment scheme, from ₹2.00 lakh to ₹4.00 lakh for those UCBs who have met the overall PSL target and sub-targets a…
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