RBI Update: Master Circular – Basel III Capital Regulations
Master Circular dated April 1, 2022, consolidating therein the prudential guidelines on Basel III capital adequacy issued to banks till that date. The instructions contained in the aforesaid Master Circular have bee…
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RBI Update: Formalisation of Informal Micro Enterprises on Udyam Assist Platform
New Definition of Micro, Small and Medium Enterprises – clarifications’ wherein all lenders were advised to obtain ‘Udyam Registration Certificate’ for classification of entities as MSME. The Ministry of Micro, Smal…
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RBI Update - Levy of charges on forex prepaid cards/store value cards/travel cards, etc
The use of International Debit Cards/Store Value Cards/Charge Cards/Smart Cards or any other instrument that can be used to create a financial liability, as 'currency'. A few Authroised Persons are levying certain f…
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RBI Update: Master Circular - Income Recognition, Asset Classification, Provisioningand Other Related Matters - UCBs
RBI vide its Notification dated 08 th May, 2023 issued to The Chief Executive Officers All Primary (Urban) Co-operative Banks The Master Circular dated April 1, 2022 on the captioned subject. The enclosed Master Circular…
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RBI Update: Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List: Addition of two entries.
RBI vide its Notification dated 27th April, 2023 issued to The Chairpersons/CEOs of all the Regulated Entities. The notification state: Section 51 of our Master Direction on Know Your Customer dated February 25…
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RBI Update : Amendment to the Master Direction (MD) on KYC – Instructions on Wire Transfer
It has been decided to amend the MD on KYC to update the instructions on Wire Transfer (Section 64 of the MD), also aligning the same with the relevant FATF Recommendation. The amended instructions of Section 64 of the M…
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RBI Update: General Credit Card (GCC) Facility – Review.
RBI vide its Notification dated 25 th April, 2023 issued to Scheduled Commercial Banks (excluding Payments Banks) and Scheduled Urban Co-operative Banks. Circular dated December 02, 2013 Revised General Credit Card …
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RBI Update: Provisioning for standard assets by primary (Urban) co- operative banks – revised norms under four-tiered regulatory framework.
RBI vide its Notification dated 24th April 2023 to, All Primary (Urban) Co-operative Banks. Circular dated December 01, 2022, in which Urban Co-operative Banks (UCBs) have been categorized into four Tiers for regula…
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RBI Update: Authorised Dealers Category-II - Online submission of Form A2.
RBI vide its Notification dated 12 th April, 2023 issued to all Authorised Dealers in Foreign Exchange The Notification states: AD Category-I banks and AD Category-II entities are invited to read A.P. (DIR Seri…
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RBI Update: Framework for acceptance of Green Deposits.
RBI vide its Notification dated 11 th April, 2023 issued to all Scheduled Commercial Banks including Small Finance Banks (excluding Regional Rural Banks, Local Area Banks and Payments Banks), All Deposit taking Non-Banki…
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