RBI Announces Rate of Interest on Floating Rate Savings Bond, 2020 (Taxable) – FRSB 2020 (T) for the Period July 01 – December 31, 2022

Accordingly, the coupon rate on FRSB 2020 (T) for period July 1, 2022 to December 31, 2022 and payable on January 1, 2023 remains at 7.15% (6.80% +0.35%), unchanged from the previous half-year.

RBI directs strict compliance with provisioning Requirement for Investment in Security Receipts (SRs) under Transfer of Loan Exposures Directions

All lending institutions shall put in place a board approved plan to ensure that the provisioning made in each of the financial years is not less than one fifth of the required provisioning on this …

RBI clarification on Tokenisation of Card Transactions: Permitting Card-on-File Tokenisation (CoFT) Services

It has been decided to extend the timeline for storing of CoF data by three months, i.e., till September 30, 2022, after which such data shall be purged.

Master Direction on Outsourcing of IT Services

Comments / feedback from REs and other stakeholders may be submitted by July 22, 2022 through email with the subject line ‘Feedback on Master Direction on Outsourcing of IT Services’. The final Master Direction shall …

RBI extends the timeline for implementing certain provisions related to credit and debit cards.

Card-issuers shall seek One Time Password (OTP) based consent from the cardholder for activating a credit card, if the same has not been activated by the customer for more than 30 days from the date …

Ministry of Finance notifies discount on the Sovereign Gold Bond Scheme 2022-23.

The Gold Bonds issued under this Scheme can be invested by a Trust, HUFs, Charitable Institutions, Universities, or an individual resident in India, individual, or on behalf of a minor child, or jointly with any …

RBI publishes Draft Reserve Bank of India (Margining for Non-Centrally Cleared OTC Derivatives) Directions, 2022.

The Initial margin shall be calculated at the outset of a transaction and thereafter on a regular and consistent basis upon changes in the potential future exposure including, but not limited to, when trades are …

RBI issues notification on processing of e-mandates for recurring transactions.

The e-mandate framework prescribed an Additional Factor of Authentication (AFA), inter alia, while processing the first transaction in case of e-mandates / standing instructions on cards, prepaid payment instruments and Unified Payments Interface. For subsequent …

RBI publishes the report of Regulations Review Authority (RRA 2.0).

The report, inter alia, contains recommendations on ease of compliance and reduction in regulatory burden, streamlining of reporting mechanism and dissemination and ease of accessibility of regulatory instructions.

Discontinuation of requirement to file Statement for reporting of non-resident guarantees

It is clarified that ‘Statement for reporting of non-resident guarantees issued and invoked in respect of fund and non-fund based facilities between two persons resident in India has now been decided to be discontinued with …

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