International Financial Services Centers Authority defines Qualified Financial Contracts
“Qualified financial contract” shall mean any privately negotiated bilateral financial contract executed outside a stock exchange, including any terms and conditions incorporated by reference in any such financial contract, pursuant to which payment or delivery obligations that have a market price are due to be performed at a certain time or within a certain period of time.
National Disaster Mitigation Fund
The central government has constituted the fund for aiding projects which are undertaken with the exclusive purpose of mitigation of disasters.
Medical Devices (Amendment) Rules, 2021
When no relevant Standard is laid down by Bureau of Indian Standards for any medical device, such device shall conform to the standard laid down by the International Organization for Standardization (ISO), the International Electro Technical Commission (IEC), American Standard Test Method (ASTM) or any other pharmacopoeia standards.
RBI defers implementation of Net Stable Funding Ratio guidelines by 6 months.
The objective of NSFR is to ensure that banks maintain a stable funding profile in relation to the composition of their assets and off-balance sheet activities.
RBI has allowed banks to continue with MSF relaxation for a further period of six months.
RBI in its earlier notification dated 27th march 2020 has allowed banks to avail funds under the marginal standing facility by dipping into the Statutory Liquidity Ratio (SLR) up to an additional one percent of net demand and time liabilities (NDTL), i.e., cumulatively up to 3 percent of NDTL and this facility was initially available up to June 30, 2020.
RBI directs banks to maintain the CRR at 3.50% of their NDTL.
Banks would now be required to maintain the CRR at 3.5 per cent of NDTL effective from the reporting fortnight beginning 27th March, 2021 and 4.0 per cent of NDTL effective from fortnight beginning 22nd May, 2021.
RBI decides to include NBFCs under long term operations.
The on-tap TLTRO scheme includes Rs 1-lakh-crore worth funds with a tenor of three years at a floating rate linked to the policy repo rate and the inclusion of NBFCs under on-tap TLTROs is likely to improve the credit flow to the NBFC sector in near term.
RBI issues Statement on Developmental and Regulatory Policies.
RBI has decided to set up an Expert Committee on UCBs involving all stakeholders in order to provide a medium-term road map to strengthen the sector, enable faster rehabilitation/resolution of UCBs, as well as to examine other critical aspects relating to these entities.
