Banking Sector September 22, 2023
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 …
Banking Sector September 20, 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.
Guidelines for Responsible Lending Conduct – Release of Movable / Immovable Property Documents on Repayment/ Settlement of Personal Loans
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 …
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.
Reserve Bank of India (Classification, Valuation and Operation of Investment Portfolio of Commercial Banks) Directions, 2023
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 …
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 …
Banking Sector September 10, 2023
RBI has announced discontinuation of requirement for banks to maintain Incremental Cash Reserve Ratio
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 …
Banking Sector September 4, 2023
RBI clarification regarding Operation of Pre-Sanctioned Credit Lines at Banks through Unified Payments Interface
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.
Banking Sector September 2, 2023
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 …
IFSCA issues additional anti money laundering measures under IFSCA (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022
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 …
Banking Sector August 30, 2023
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.
Banking Sector August 24, 2023
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.