Category: Banking Sector

These Directions shall be applicable to the All India Financial Institutions (AIFIs) regulated by the Reserve Bank, viz. the Export-Import Bank of India (EXIM Bank), the National Bank for Agriculture and Rural Development (NABARD), the …

Read More "Master Direction – Reserve Bank of India (Prudential Regulations on Basel III Capital Framework, Exposure Norms, Significant Investments, Classification, Valuation and Operation of Investment Portfolio Norms and Resource Raising Norms for All India Financial Institutions) Directions, 2023"

RBI has mandated that CICs shall prepare Data Quality Indexes for Commercial and Microfinance segments. CICs shall provide the DQIs for Commercial and Microfinance segments to all CIs latest by March 31, 2024.

RBI vide circular dated September 13, 2023 has issued a guidelines for Responsible Lending Conduct – Release of Movable / Immovable Property Documents on Repayment/ Settlement of Personal Loans. These Directions shall be applicable to …

Read More "Guidelines for Responsible Lending Conduct – Release of Movable / Immovable Property Documents on Repayment/ Settlement of Personal Loans"

RBI has directed eligible lending institutions to comply with the Scheme guidelines issued by the Ministry of Micro, Small and Medium Enterprises, for appropriate action.

The revised Directions include principle-based classification of investment portfolio, tightening of regulations around transfers to/from held to maturity (HTM) category and sales out of HTM, inclusion of non-SLR securities in HTM subject to fulfilment of …

Read More "Reserve Bank of India (Classification, Valuation and Operation of Investment Portfolio of Commercial Banks) Directions, 2023"

In terms of the framework, 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 …

Read More "RBI issues list of NBFCs in the Upper Layer (NBFC-UL) for the year 2023-24"

On a review, it has been decided to discontinue the I-CRR in a phased manner. Based on an assessment of current and evolving liquidity conditions, it has been decided that the amounts impounded under the …

Read More "RBI has announced discontinuation of requirement for banks to maintain Incremental Cash Reserve Ratio"

Banks may, as per their Board approved policy, stipulate terms and conditions of use of such credit lines. The terms may include, among other items, credit limit, period of credit, rate of interest, etc.

93% of the ₹2000 banknotes in circulation as on May 19, 2023, have since been returned. Members of the public are requested to utilize the remaining period until September 30, 2023 to deposit and/or exchange …

Read More "RBI publishes status of withdrawal of ₹2000 denomination banknotes"

In a cross-border wire transfer where the amount to be transferred exceeds USD 1000, every bank which is an ordering institution shall include in the message or payment instruction that accompanies or relates to the …

Read More "IFSCA issues additional anti money laundering measures under IFSCA (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022"

An Indian Banking Unit may open an INR account, in the form of a Special Non-Resident Rupee Account (SNRRA), with an AD Bank in India to defray its administrative expenses.

As announced in the Statement on Development and Regulatory Policies dated August 10, 2023, the upper limit of an offline payment transaction is increased to ₹500.