RBI Update- Multiple NBFCs in a Group: Classification in Middle Layer dated 11th October, 2022
Reserve Bank of India, vide its Circular dated 11 th October, 2022, made a reference to para 1 of the Annex to the Circular on “Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs” issued on October 22…
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RBI Update: Reserve Bank of India (Unhedged Foreign Currency Exposure) Directions, 2022 dated 11 th October, 2022
Reserve Bank of India has received references from banks seeking clarification on various aspects including inter-alia clarity in the definition of ‘entities’ for which banks shall assess UFCE, exempted exposures / entit…
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RBI Update- Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021 - Disclosure of Divergence in Asset Classification and Provisioning dated 11 th October, 2022
Reserve Bank of India, vide its Circular dated 11 th October, 2022, requires Commercial banks (excluding Regional Rural Banks (RRBs) to disclose details of divergence in asset classification and provisioning where such d…
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RBI Update- Diversification of activities by SPDs – Review of permissible non-core activities dated 11th October, 2022
Reserve Bank of India, vide its Circular dated 11 th October, 2022, made a reference to circular DNBR (PD) CC.No.094/03.10.001/2018-19 dated July 27, 2018 in terms of which SPDs, as part of their non-core activities, are…
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RBI Update- Diversification of activities by SPDs – Review of permissible non-core activities dated 11th October, 2022
Reserve Bank of India, vide its Circular dated 11 th October, 2022, made a reference to circular DNBR (PD) CC.No.094/03.10.001/2018-19 dated July 27, 2018 in terms of which SPDs, as part of their non-core activities, are…
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Exim Bank’s GOI-supported Line of Credit of USD 448 million to the Government of Republic of Uzbekistan for Social Infrastructure and Other Development Projects
EXIM Bank has entered into an agreement dated December 10, 2020 with the Government of Republic of Uzbekistan to make available to it, Government of India supported Line of Credit (LoC) of USD 448 million (USD Four Hundr…
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Rupee Drawing Arrangement - Enabling Bharat Bill Payment System (BBPS) to process cross-border inbound Bill Payments
Government of India has decided to allow foreign inward remittances received under the Rupee Drawing Arrangement (RDA), to be transferred to the KYC compliant bank account of the biller (beneficiary) through Bharat Bill …
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RBI Update: Guidelines on Digital Lending
Government of India has made a reference in para 7 of the RBI Press Release “Recommendations of the Working Group on Digital Lending – Implementation” dated August 10, 2022. Further, Regulated Entities (REs) are advised …
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RBI Update: Foreign Exchange Management (Overseas Investment) Directions, 2022
Government of India has squash Notification No. FEMA 120/2004-RB dated July 07, 2004 (Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004) and Notification No. FEMA 7 (R)…
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RBI Update: Foreign Exchange Management (Overseas Investment) Regulations, 2022
Government of India has inserted new regulations which may be called the Foreign Exchange Management (Overseas Investment) Regulations, 2022. These Regulation Includes namely: Financial commitment by Indian entity by mod…
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