RBI Update : Branches of Indian Banks operating in GIFT-IFSC – acting as Professional Clearing Member (PCM) of India International Bullion Exchange IFSC Limited (IIBX)
The Reserve Bank of India (RBI) on June 7, 2022 has issued Notification regarding Branches of Indian Banks operating in GIFT-IFSC to act as Professional Clearing Member (PCM) of India International Bullion Exchange IFSC …
Read more
RBI Update: Provisioning for Standard assets by Non-Banking Financial Company – Upper Layer
The Reserve Bank of India on June 06, 2022, issued guidelines on differential provisioning to be held by NBFCs classified as NBFC-Upper Layer (NBFC-UL) towards different classes of standard assets. Accordingly, it h…
Read more
RBI Updates: Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit - Extension
Please refer to paragraph 2.4 of the circular dated March 8, 2022, wherein it was stated that the extended IES would not be available to those beneficiaries who were availing of the benefit under any Production Linked In…
Read more
RBI Updates : Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021 - Reporting of reverse repos with Reserve Bank on the bank’s balance sheet
In order to bring more clarity on the presentation of reverse repo on the balance sheet, it has now been decided as under: (a) All type of reverse repos with the Reserve Bank including those under Liquidity Adjustme…
Read more
RBI Updates : Interoperable Card-less Cash Withdrawal (ICCW) at ATMs
All banks, ATM networks and WLAOs may provide the option of ICCW at their ATMs. NPCI has been advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks. While UPI would be used fo…
Read more
RBI Updates: Government of India guaranteed term loan extended by SBI to the Government of Sri Lanka- Settlement in INR
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to Regulations 3 and 5 of Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 in terms of which export / import trans…
Read more
RBI Updates: New Definition of Micro, Small and Medium Enterprises - Clarification
It is clarified that the existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAM) of the MSMEs obtained till June 30, 2020 shall remain valid till June 30, 2022 for classification as MSMEs; …
Read more
RBI Updates: Kisan Credit Card Scheme - Eligibility criteria for farmers engaged in fisheries/ aquaculture
Please refer to Para 3.1.1.2 of our circular dated February 04, 2019 on Kisan Credit Card (KCC) Scheme: Working Capital for Animal Husbandry and Fisheries. It has been brought to our notice that licensing/authorisation r…
Read more
RBI Updates: Lending by Commercial Banks to NBFCs and Small Finance Banks (SFBs) to NBFC-MFIs, for the purpose of on-lending to priority sectors
The lending by commercial banks to NBFCs and lending by Small Finance Banks (SFBs) to NBFC-MFIs, for the purpose of on-lending to certain priority sectors, was permitted up to March 31, 2022. To ensure continuation …
Read more
RBI Updates : Liquidity Adjustment Facility- Change in rates
It has been decided by the Monetary Policy Committee (MPC) to increase the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 40 basis points from 4.00 per cent to 4.40 per cent with immediate effect. …
Read moreShowing 471–480 of 506 updates