RBI announces Daily Variable Rate Repo (VRR) Auction
Based on assessment of the liquidity conditions, it is decided that the notified amount for the daily Variable Rate Repo (VRR) auction to be conducted on January 17, 2025, Friday, will be ₹50,000 crore.
RBI publishes details of steps introduced to encourage use of Indian Rupee and local / national currencies for settlement of cross border transactions
The Reserve Bank has signed Memorandum of Understanding (MoU) with the central banks of the United Arab Emirates, Indonesia and Maldives, to encourage cross-border transactions in local currencies. Further, in December 2023 the Foreign Exchange Management (Manner of Receipt and Payment) Regulations were revised to enable cross border transactions in all foreign currencies (including local currencies of trading partner countries) and INR.
RBI releases list of NBFCs in the Upper Layer (NBFC-UL) under Scale Based Regulation for NBFCs
The Reserve Bank of India announced today the list of NBFCs in the Upper Layer under Scale Based Regulation for NBFCs for the year 2024-25. once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirement, at least for a period of five years from its classification in the layer, even in case it does not meet the parametric criteria in the subsequent year/s.
SEBI SMART 2025
A Symposium on India’s Securities Market Tech Stack was organized in Mumbai by SEBI along with market participants which showcased India’s tech journey in the Securities Market. Regulators, market participants from across the world participated in the Symposium.
DPIIT enters into strategic partnership with ITC to bolster India’s startup ecosystem and innovation
Under this partnership, ITC is looking to deploy startup solutions in key areas such as digital platforms for Manufacturing Execution Systems (MES), integrating renewable energy opportunities for manufacturing locations, energy storage systems, etc.
Government Boosts Chemical Safety with Training Program for Major Accident Hazard Units
As part of India’s “Viksit Bharat@2047” initiative, the Department of Chemicals and Petrochemicals recently conducted a two-day training program focused on “Chemical and Petrochemical Industrial Safety,” specifically targeting Major Accident Hazard (MAH) units. The program took place at CIPET: IPT-Bhubaneswar on January 10-11, 2025.
