RBI issues clarification/FAQ on Long Term Repo Operations – Operational guidelines

The Reserve Bank of India on 13th February has listed frequently-asked questions on the Long Term Repo Operations (LTRO) – Operational guidelines, giving clarifications about the LTRO facility. Details regarding interest, collateral and margin requirements …

CBDT notifies Income tax 5th Amendment Rules to make PAN inoperative if it is not linked with Aadhaar.

The Central Board of Direct Taxes in its notification dated 13th February 2020, has published the Income-tax (5th Amendment) Rules, 2020 to fix the final deadline for linking PAN with Aadhaar. The PAN of a …

Ministry of Finance Notifies rules for Banning of unregulated Deposit scheme.

The Ministry of Finance vide notification dated 12th February 2020, has published the Banning of Unregulated Deposit Schemes Rules, 2020 which provides for a comprehensive mechanism to tackle illicit deposit taking activities and various provisions …

RBI Provides Cash Reserve Ratio relief to banks for 5 years

The Reserve Bank of India(RBI) vide its notification dated 10th February 2020 has announced a special lending window with Cash Reserve Ratio (CRR) exemption which shall commence from February 14 and all incremental loans disbursed …

RBI Proposes a new umbrella entity for retail payment system.

The Reserve Bank of India vide its notification dated 10th February 2020 has issued a draft framework for authorization of a pan-India new umbrella entity (NUE) for retail payment systems. The NUE will operate clearing …

Restructuring of advances for Projects under Implementation not to be classified as NPA.

The Reserve Bank of India vide its notification dated 7th February 2020 has revised the guidelines for Deferment of Commencement of Commercial Operations (DCCO) in non-infrastructure and Commercial Real Estate (CRE) projects. If the projects …

Ministry of finance discloses steps taken to ease the liquidity position of Non-Banking Financial Companies (NBFCs) and increase credit flow

The press information bureau in its press release dated 4th February 2020, has enumerated various steps that have been taken by the ministry o finance since 2018 to increase credit flow in the country. This …

RBI Allows Regional Rural Banks (RRB) to act as merchant Acquiring banks.

RBI has decided to allow all Regional Rural Banks to act as merchant acquiring bank using Aadhar Pay –BHIM app and POS terminals.

MCA directs NBFCs complying with Ind AS to file financial statements with New forms

Ministry of Corporate Affairs has issued Companies (Accounts) Amendment Rules, 2020, which mandates the Non-Banking Financial Companies (NBFC) to file financial statements with the Registrar. The amendment also provides the forms to be filed along …

RBI Revises guidelines relating to Merchanting Trade Transactions

The Reserve Bank of India vide notification dated 23rd January 2020 has reviewed the guidelines of the Merchanting Trade Transactions(MTT) issued on 28th March 2014 and issued revised guidelines With a view to further facilitate …