RBI Update - Reserve Bank of India Act, 1934 - Section 42(1A) - Requirement for maintaining additional CRR
It has been decided to issue a directive under Section 42(1A) of the Reserve Bank of India Act, 1934 requiring all Scheduled Commercial Banks / Regional Rural Banks / All Scheduled Primary (Urban) Co-operative Banks / Al…
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RBI Update -Inclusion of “NongHyup Bank” in the Second Schedule of the Reserve Bank of India Act, 1934
It is advised that “NongHyup Bank” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification dated June 20, 2023 and published in the Gazette of India ( Part III - Section 4 ) date…
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RBI Update: Sovereign Gold Bond (SGB) Scheme 2023-24
Government of India, vide its Notification dated June 14, 2023, has announced Sovereign Gold Bond Scheme 2023-24. Under the Scheme, there will be a distinct series (starting from series I) which will be indicated on the …
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RBI Update: Priority Sector Lending (PSL) targets / sub-targets and contribution against shortfall in achievement of PSL targets – Primary (Urban) Co-operative Banks (UCBs) - Extension of time
In order to address implementational challenges faced by the UCBs and to make the transition non-disruptive, it has been decided to extend the glide path for these PSL targets by an additional period of two years as unde…
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RBI Update: Guidelines on Default Loss Guarantee (DLG) in Digital Lending
The Reserve Bank came out with guidelines on default loss guarantee (DLG) in digital lending, a move aimed at ensuring the orderly development of the credit delivery system. DLG is a contractual arrangement between …
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RBI Update: Framework for Compromise Settlements and Technical Write-offs
It has been decided to issue a comprehensive regulatory framework governing compromise settlements and technical write-offs covering all the REs The provisions of this framework shall be applicable to all REs to whi…
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RBI Update: Rationalization of Branch Authorisation Policy for Urban Co-operative Banks (UCBs)
In order to rationalise the process of branch opening and to enable the UCBs to tap growth opportunities in the sector, it has been decided to grant general permission for branch expansion in the approved area of operati…
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RBI Update: Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2021-Review
It has been decided that henceforth, Scheduled Commercial Banks (excluding small finance banks and payment banks) may set their own limits for borrowing in Call and Notice Money Markets. As in the case of Term Money Mark…
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RBI Update: Expanding the Scope of Trade Receivables Discounting System
The Reserve Bank on Wednesday expanded the trade receivables discounting system (TReDS) by permitting insurance companies to function as participants, a move aimed at improving the cash flows of MSMEs. The RBI issued gui…
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RBI Update : LIBOR Transition
The Reserve Bank of India on 12 th May 2023 states that banks financial institutions to ensure that new transactions undertaken by them or their customers do not rely on or are priced using the US$ LIBOR (London Interban…
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