insurance August 12, 2020
The decision to dispense with physical signature requirement for acceptance of proposal forms is being allowed on an experimental basis with immediate effect till December 31, 2020, and is limited to pure risk products.
The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2020
The Amendment is brought under Regulation 16A where the authorized representative shall circulate the agenda to creditors in a class, and may seek their preliminary views on any item in the agenda to enable him …
MOHFW extends the insurance scheme for health workers fighting COVID-19 for a further period of 90 days
Insurance under the Pradan Mantra Garib Kalyan scheme for health workers fighting COVID-19 is extended for a period of 90 days starting from 30th July 2020.
No bank shall open current accounts for customers who have availed credit facilities in the form of cash credit (CC)/ overdraft (OD) from the banking system.
under the pilot scheme, authorized Payment System Operators will be able to provide offline payment solutions using cards, wallets or mobile devices for remote or proximity payments.
RBI has directed the payment System Operators (PSOs) and their participants to implement an ODR system for disputes and grievances related to failed transactions in their respective payment systems by 1st January 2021.
The Prudential Framework provides a window for lenders to implement a viable resolution plan in respect of eligible corporate exposures and personal loans. Lending institutions must ensure that the resolution is provided only to the …
Existing ‘standard’ loans to MSMEs must be restructured without a downgrade in the asset classification, subject to specified conditions.
Banks can set a specific amount or range to maintain as balances at the end of the day, in their current accounts with the RBI. Based on this set amount, MSF and Reverse Repo Bids …