RBI consultation with major stakeholders in UPI ecosystem
The various suggestions received will be examined and suitable action will be initiated in due course by the Reserve Bank.
RBI Working Paper titled “Assessing the Impact of Macroprudential Policies on Housing Credit Dynamics: Evidence from India”
This paper evaluates the efficacy of macroprudential (MaP) policy in modulating bank credit to the housing sector and its impact on the asset quality of banks in the Indian context.
RBI revised Master Direction on Risk Management and Inter-Bank Dealings
Standalone Primary Dealers may borrow in foreign currency from their parent or correspondent outside India or any other entity as permitted by Reserve Bank of India and avail overdraft in nostro accounts (not adjusted within five days), only for operational reasons. Such borrowings shall be within the limit for foreign currency borrowings prescribed in the Master Direction – Standalone Primary Dealers (Reserve Bank) Directions, 2016 dated August 2016.
RBI directions for issue of Irrevocable Payment Commitments
Only those custodian banks will be permitted to issue IPCs, who have a clause in the Agreement with clients giving the banks an inalienable right over the securities to be received as pay out in any settlement. However, this clause will not be insisted upon if the transactions are pre-funded i.e., either clear INR funds are available in the customer’s account or, in case of FX deals, the bank’s nostro account has been credited before the issuance of the IPC.
RBI releases draft guidelines on ‘Prudential Framework for Income Recognition, Asset Classification and Provisioning pertaining to Advances – Projects Under Implementation’
The Comments on the draft Direction are invited from public/stakeholders by June 15, 2024 by email.
Guidance Note on Operational Risk Management and Operational Resilience
The existing “Guidance Note on Management of Operational Risk” dated October 14, 2005, stands repealed with the issuance of this Guidance Note.
Draft Master Direction – Reserve Bank of India (Electronic Trading Platforms) Directions, 2024
These Directions are issued to the entities operating Electronic Trading Platforms (ETPs) on which transactions in eligible instruments, as defined under these Directions, are contracted. These Directions shall not apply to electronic systems operated by scheduled commercial banks and standalone primary dealers for transactions in eligible instruments wherein the bank or the primary dealer operating the electronic system is the sole quote/price provider and invariably a party to all transactions contracted on the system.
RBI mandates strict compliance of Fair Practices Code for Lenders
In the interest of fairness and transparency, all REs are directed to review their practices regarding mode of disbursal of loans, application of interest and other charges and take corrective action, including system level changes.
RBI framework for Voluntary transition of Small Finance Banks to Universal Banks
The eligible SFB may submit its application for transition to Universal Bank, in the prescribed form (Form III) in terms of Rule 11 of the Banking Regulation (Companies) Rules, 1949, along with other requisite documents, to Department of Regulation, Reserve Bank of India, Central Office, 12th Floor, Central Office Building, Shahid Bhagat Singh Road, Mumbai – 400001.
RBI has issued the limits for investment in debt and sale of credit default swaps by Foreign Portfolio Investors (FPIs)
The limits for FPI investment in government securities (g-secs), state government securities (SGSs) and corporate bonds shall remain unchanged at 6 per cent, 2 per cent and 15 per cent respectively, of the outstanding stocks of securities for 2024-25.
