RBI Update : Change in Bank Rate
The Bank Rate is revised upwards by 50 basis points from 4.65 per cent to 5.15 per cent with immediate effect. Penal Interest Rates which are linked to the Bank Rate Item Existing Rate Revised Rate (With immedi…
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RBI Update: Standing Liquidity Facility for Primary Dealers
The policy repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 50 basis points from 4.40 per cent to 4.90 per cent with immediate effect. The Standing Liquidity Facility provided to Primary…
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RBI Update: 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 50 basis points from 4.40 per cent to 4.90 per cent with immediate effect. …
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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 …
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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…
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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…
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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…
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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…
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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…
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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; …
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