Category: Banking Sector

On this occasion the Governor highlighted the need for augmenting the existing computing infrastructure of the RBI supported by cutting edge facilities for research and capacity building in emerging areas straddling central banking, technology and …

Read More "RBI lays the Foundation Stone of a ‘New Greenfield Data Centre’ and ‘Enterprise Computing & Cybersecurity Training Institute’"

The Master Circular now defines “Politically Exposed Persons (PEPs)” and assigns them the meaning as per the Prevention of Money Laundering (Maintenance of Records) Rules, 2005. Further, the present Circular directs the insurers to take …

Read More "IRDAI amends Master Guidelines on AML/CFT"

The Circular, inter alia, stipulates for market wide applicable limit, member security specific limits and applicable haircut rates for each of the securities.

The revised list of approved securities, GOI securities, open ended mutual funds, corporate bonds and list of approved banks for issuance of bank guarantees (BG)/fixed deposit receipts (FDR) comprises 7 annexures enumerated in the Circular.

The Primary Lending Institutes (PLIs) were supposed to upload all eligible claims for interest subsidy loan for housing by 31.03.2022. Following request received from Central Nodal Agency, the deadline for uploading the claims on the …

Read More "Schemes for implementing Pradhan Mantri Awas Yojana – Urban (PMAY-U)"

The amendment provides that every Banking Company or Financial Institution or intermediary, as the case may be, shall register the details of a client, in case of client being a non-profit organization, on the DARPAN …

Read More "Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2023"

Under this programme, Payment System Operators (PSOs) will adopt 75 villages across the country and convert them into digital payment enabled villages.

Member Banks, PSPs, and TPAPs are requested to ensure compliance before March 31, 2023.

The IFSC has deemed it necessary to enable a mechanism for execution of large trades in gold in a single transaction without putting either the buyer or the seller in a disadvantageous position. In order …

Read More "IFSC issues Guidelines for execution of block deals on the Bullion Exchange"

The dates of reversal of LTRO and TLTRO have been modified to March 08, 2023 (Wednesday) and April 10, 2023 (Monday) respectively.