RBI declares that Card Network that enables businesses to make card payments through certain intermediaries to entities that do not accept card payments qualifies as payment system

Under this arrangement, the intermediary accepts card payments from corporates for their commercial payments and then remits the funds via IMPS/RTGS/NEFT to non-card accepting recipients. On closer scrutiny, it was observed that this arrangement qualified …

National Savings Time Deposit (Amendment) Scheme, 2024

By giving retrospective effect to the National Savings Time Deposit (Amendment) Scheme, 2024, no one shall be adversely affected as a result of retrospective effect being given to this amendment.

Review of Fixed Remuneration granted to Non-Executive Directors of private banks

Considering the crucial role of NEDs in efficient functioning of bank Boards and its various Committees and in order to further enable the banks to sufficiently attract qualified competent individuals on their Boards, it has …

RBI Statement on Developmental and Regulatory Policies

In conclusion, the Statement on Developmental and Regulatory Policies reflects the RBI’s proactive approach towards fostering a resilient, inclusive, and innovative financial ecosystem. By prioritizing transparency, consumer protection, and technological innovation, these policy measures aim …

RBI relaxes restrictions for participation of Indian Banks on India International Bullion Exchange IFSC Limited (IIBX)

RBI has allowed Branch/subsidiary/joint venture of an Indian bank in GIFT-IFSC to act as a Trading Member (TM)/Trading and Clearing Member (TCM) of IIBX, and Indian banks authorized to import gold/silver to act as Special …

Reserve Bank has cautioned members of public against frauds in the name of KYC updation

RBI once again urges the members of public to exercise caution and due care to prevent loss and safeguard themselves from malicious practices.

RBI directs banks to Streamline Internal Compliance monitoring function

The RE, based on the size and complexity of its operations, may decide on the tools/ mechanism it would prefer to deploy for monitoring of compliance and development of the unified dashboard. Accordingly, REs are …

Conference of Directors of select UCBs of Southern Zone

Discussions during the conference revolved around approaches to strengthen cybersecurity, inculcating a culture of cyber awareness and implementing measures to protect and respond to cyber-attacks effectively.

Finance (Ways and Means-II) Department

The Government of Tamil Nadu has announced the auction of securities totaling 3000 crore, comprising 7-year securities (1000 crore), 10-year securities (1000 crore), and 30-year securities (1000 crore). The auction will be conducted by the …

Report titled “Finances of Panchayati Raj Institutions”

This report has been prepared in the Division of Local Finances in the Department of Economic and Policy Research. It is available on the Reserve Bank’s website (www.rbi.org.in). Comments and suggestions on the Report may …

RBI convenes Conference of Internal Ombudsmen of select Regulated Entities

The Conference included a presentation on the context, challenges and coordinated approach for an empowered Internal Ombudsman and experience sharing sessions by Managing Directors, Executive Directors and Internal Ombudsmen of regulated entities.

RBI issues Credit/Investment Concentration Norms

NBFC-BL shall put in place an internal Board approved policy for credit/investment concentration limits for both single borrower/party and single group of borrowers/parties. In case of NBFC UL, to be eligible as a credit risk …

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