RBI extends the implementation of NSFR guidelines by six months.

The NSFR guidelines will ensure reduction in funding risk over a longer time horizon by requiring banks to fund their activities with sufficiently stable sources of funding in order to mitigate the risk of future …

RBI defers the implementation of Capital Conservation Buffer to1st April 2021.

RBI has decided to defer the implementation of the last tranche of 0.625 percent of the Capital Conservation Buffer (CCB) from 30th September 2020 to 1st April, 2021.

RBI extends relaxation in marginal standing facility till March 2021.

RBI has extended the marginal standing facility relaxation for a further period of six months up to 31st March, 2021.

RBI to introduce Positive Pay System for Cheque Truncation System from 1st January 2021.

The National Payments Corporation of India will develop the facility of positive pay in CTS and make it available to participant banks.

RBI publishes “’Technology Vision for Cyber Security’ for Urban Co-operative Banks – 2020-2023”.

The document has been formalized based on inputs from various stakeholders and it envisages to achieve its objective through a five-pillared strategic approach GUARD.

The Income-tax (21st Amendment) Rules, 2020

The amendment has made the procedure for application by a banking company or insurer for a certificate under section 195(3) of the Income – tax Act, 1961, for receipt of interest and other sums without …

IBBI publishes the Insolvency and Bankruptcy Board of India (Annual Report) Amendment Rules, 2020.

The issue of the final Separate Audit Report (SAR) in English with Audit Certificate to Insolvency and Bankruptcy Board of India shall be 31st October and the submission of the annual report and audited accounts …

RBI Publishes Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2020.

These Directions shall apply to all Rupee IRD transactions entered into from the date the Directions come into effect. Existing Directions will continue to be applicable to Rupee IRD transactions undertaken in accordance with the …

RBI to automate income recognition Asset Classification & Provisioning processes in banks.

To ensure the completeness and integrity of the automated asset classification (classification of advances/investments as NPA/NPI and their upgradation), provisioning calculation, and income recognition processes, banks are advised to put in place/upgrade their systems to …

NABARD advices banks to upload five returns on steps taken by banks to Anti-Money Laundering and Counter Financing of Terrorism

Banks are now required to upload five returns focusing on the steps taken by banks with regard to Anti-Money Laundering and Counter Financing of Terrorism.

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