RBI publishes daily data of select payment systems

The payment system data is presently published monthly by the RBI in its bulletin. However now it has decided to publish the data on a daily basis. The data relating to transactions undertaken during the …

Interest subvention and Prompt Repayment Incentive for Agriculture, Animal Husbandry, Dairy, and Fisheries loans extended till 31st August

RBI has decided to continue the availability of 2% IS and 3% PRI to farmers for the extended period of repayment upto August 31, 2020 or date of repayment, whichever is earlier.

RBI Extended timeline for compliance with various payment system requirements

The Reserve Bank of India vide circular dated June 04, 2020, has extended timeline for compliance with various payment system requirements keeping in view the present pandemic situation.

IRDAI instructs insurers to cover disability, mental illness & HIV.

All insurers (Life, General, and Health Insurers) are hereby directed to formulate and publish on their respective websites the underwriting philosophy with regard to offering insurance coverage to all the persons suffering from disabilities and …

Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2020

The Board will prepare a common Panel of IPs for appointment as IRP, Liquidator, RP and BT and share the same with the AA (Hon’ble NCLT and Hon’ble DRT) in accordance with these Guidelines.

Penal interest calculation for delayed reporting of State Government transactions will be made as per the methodology issued by RBI.

The Reserve Bank of India vide its Notification dated 29th May 2020, has advised the agency banks to follow the penal interest calculation for delayed reporting of State Government transactions through the methodology issued by …

RBI to withdraw 7.75% savings (Taxable) Bond scheme from 28th May 2020

The Reserve Bank of India vide its press release dated 27th May announced 7.75% savings Bond Scheme from 28th May 2020.

Union Cabinet nods for modification in the existing “Partial Credit Guarantee Scheme (PCGS)”

The Union Cabinet vide 20th May 2020, approved the norms for modification of Partial Credit Guarantee Scheme (PCGS)

Filing Reference Number (FRN) for two new Cross Border Re-insurers

On the basis of the submissions made by Cross Border Re-insurer (CBR) and recommendations of the insurers, the Authority has granted approval to two CBR’s , who do not fulfill stipulated eligibility criteria.

RBI sets banks group exposure limit at 30% of the capital base.

In order to facilitate a greater flow of resources to corporates, RBI has been decided, as a one-time measure, to increase a bank’s exposure to a group of connected counter parties from 25% to 30% …

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