RBI Updates: Legal Entity Identifier (LEI) for Borrowers
It has been decided that the guidelines on LEI stand extended to Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Financial Companies (NBFCs). It is further advised that non-individual borrowers enjoying aggrega…
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RBI Updates: Large Exposures Framework for Non-Banking Financial Company - Upper Layer (NBFC-UL)
The guidelines shall be applicable to NBFC-UL, both at the solo level and at the consolidated (group) level. Exposure shall comprise both on and off-balance sheet exposures by the NBFC-UL. NBFC-UL’s exposure to all …
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RBI Updates: Scale Based Regulation (SBR) for NBFCs: Capital requirements for Non-Banking Finance Companies – Upper Layer (NBFC-UL)
A Revised Regulatory Framework for NBFCs. This is applicable to all NBFCs identified as NBFC-UL, except Core Investment Companies (CICs). NBFC-UL shall maintain Common Equity Tier 1 capital of at least 9 per ce…
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RBI Updates: Loans and Advances – Regulatory Restrictions - NBFCs RBI/2022-23/29
Guidelines applicable to NBFC - Middle Layer (ML) and NBFC - Upper Layer (UL) - Regulatory Restrictions on Loans and Advances These guidelines shall be effective from October 01, 2022. Loans and advances to Director…
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RBI Updates : Consolidated Circular on Opening of Current Accounts and CC/OD Accounts by Banks
RBI issued a consolidated circular for opening and operation of current accounts and CC/OD accounts by banks with a view to enforce credit discipline amongst the borrowers as well as to facilitate better monitoring by th…
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RBI Updates: Disclosures in Financial Statements- Notes to Accounts of NBFCs
This is applicable to all NBFCs. The Annex specifies the applicability of specific disclosure requirements to specific NBFC layers as per Scale Based Regulation. It may be noted that disclosure requirements app…
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RBI Updates: Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR)
This circular is applicable to all Commercial Banks other than Regional Rural Banks, Local Area Banks and Payments Banks. In terms of the circular ibid, the assets allowed as Level 1 High Quality Liquid Assets (HQLA…
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RBI Updates: Compliance Function and Role of Chief Compliance Officer (CCO) - NBFCs
NBFC-UL and NBFC-ML shall put in place a Board approved policy and a Compliance Function, including the appointment of a Chief Compliance Officer (CCO), based on the Framework given latest by April 1, 2023 and October 1,…
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RBI Updates : Section 24 and Section 56 of the Banking Regulation Act, 1949 – Maintenance of Statutory Liquidity Ratio (SLR)
As announced in the Statement on Developmental and Regulatory Policies on April 08, 2022, it has been decided to institute the Standing Deposit Facility (SDF) with immediate effect. Accordingly, it is decided that t…
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RBI Updates : Individual Housing Loans – Rationalisation of Risk Weights
On rationalization of risk weights on Individual Housing Loans in terms of which risk weights were rationalised irrespective of the amount, for all new housing loans sanctioned from October 16, 2020 and up to March 31, 2…
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