Penalties on loans: RBI proposals for responsible lending
Comments/feedback by the stakeholders and members of public on the draft circular may be submitted by March 21, 2025 through e-mail. Final circular shall be issued after considering the stakeholder/ public comments.
Reserve Bank of India (Forward Contracts in Government Securities) Directions, 2025
Based on the feedback received from the market participants, the draft Directions have been finalised and the Reserve Bank of India (Forward Contracts in Government Securities) Directions is issued.
PFRDA Updates Service Charge Structure for NPS and NPS-Lite
The PFRDA’s updated Master Circular outlines new service charges for NPS and NPS-Lite, effective from January 31, 2025, ensuring transparency and fair practices
Meghalaya Declares Feb 21 as Public Holiday for Elections
Meghalaya announces a public holiday on Feb 21 for smooth elections in Khasi & Jaintia Hills, with special leave for workers.
EPFO Issues MACP Guidelines for Social Security Assistants
EPFO withdraws the 2015 circular and clarifies MACP benefits for Social Security Assistants, ensuring correct financial upgradation from Level-5 to Level-6.
ESIC Offers 100% Coverage for Cochlear Implant Repairs
ESIC announces full financial support, up to ₹5,35,000, for cochlear implant repairs or replacements, offering cashless benefits to eligible beneficiaries.
EPFO Extends UAN Activation and Aadhaar Seeding Deadline
EPFO extends the deadline for UAN activation and Aadhaar seeding to February 15, 2025, ensuring smooth processing of Employees’ Linked Insurance benefits.
RBIDATA: Launch of new Mobile App by RBI
The Reserve Bank of India launched RBIDATA, a Mobile App, that offers macroeconomic and financial statistics relating to the Indian economy in a user-friendly and visually engaging format.
New name for Ombudsman Scheme
It is hereby brought to the notice of all concerned that the Reserve Bank of India has now replaced the word ‘लोकपाल’ with the word ‘ओम्बड्समैन’ in the Hindi version of ‘Reserve Bank-Integrated Ombudsman Scheme (RB-IOS), 2021’.
Fair treatment of customers: RBI directions to NBFCs
Highlighting the collaborative efforts required between the Reserve Bank and the NBFCs, the Governor stressed upon balancing growth aspirations with sound practices for ensuring inclusive development, customer protection and financial stability. He also underscored the significance of ensuring fair treatment to customers and putting in place a prompt grievance redress mechanism. Urging the NBFCs to further their contribution towards financial inclusion, the Governor requested them to become part of Unified Lending Interface (ULI) being put in place by the Reserve Bank.
