Category: Banking Sector

To enable the linking of credit cards on UPI, the ecosystem will have to enhance its tech platforms. While the issuers will enable the linking of credit card accounts at the customer’s end, the acquirers …

Read More "NPCI circular on RuPay Credit Cards linked to UPI"

The premature redemption of a Gold Bond may be permitted after the 5th year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the first due …

Read More "Redemption Price for premature redemption of SGB due on December 09, 2022"

The scope of BBPS shall be expanded to include all categories of payments and collections, both recurring and non-recurring in nature. This will make the platform accessible to a wider set of individuals and businesses …

Read More "RBI Statement on Developmental and Regulatory Policies"

Revised Master Direction – Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021 shall be applicable to Scheduled Commercial Banks, Regional Rural Banks, Primary (Urban) Co-operative Banks/State Co-operative Banks/ Central Co-operative Banks, All India …

Read More "Revised Master Direction – Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021"

The foreign branches/foreign subsidiaries of Indian banks/AIFIs can deal in financial products, including structured financial products, which are not available or are not permitted by the Reserve Bank in the domestic market without prior approval …

Read More "Operations of subsidiaries and branches of Indian banks and All India Financial Institutions (AIFIs) in foreign jurisdictions and in International Financial Services Centers (IFSCs)"

The consultation paper details CCIL’s proposed conversion process, feedback to CCIL’s consultation paper, proposed cash compensation methodology, operational aspects of transition, etc. Members are requested to send their comments and feedback on the proposal, specifically …

Read More "CCIL issues consultation paper: ‘ Transitioning Outstanding MIFOR Swaps Post Index Cessation – Proposed Cash Computation Methodology and Operational Aspects of Transition’"

The present Circular extends the timeline for compliance by existing TPAPs who exceed the volume cap. The extension is for a period of two years, i.e. up to 31st December 2024. Thereafter the TPAPs will …

Read More "NPCI Clarifies on the Implementation of Its Guidelines on volume cap for TPAPs in UPI"

Premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the first due date of premature …

Read More "RBI clarification regarding Redemption Price for premature redemption under Sovereign Gold Bond (SGB) Scheme"

The Central Government has clarified that a person engaged in providing services in relation to sale or purchase of real estate and having annual turnover of Rupees twenty lakhs and above, shall qualify as a …

Read More "Central government expands the scope of Prevention of Money-laundering Act, 2002"

Revised lending and deposit rates of scheduled commercial banks – November 2022.