RBI Cautions against unauthorised campaigns on Loan waiver
There are reports of such entities charging a service/legal fee for issuing ‘debt waiver certificates’ without any authority. Members of the public are cautioned not to fall prey to such false and misleading campaigns and report such incidents to law enforcement agencies.
RBI lists reporting entities permitted to perform authentication under the Aadhaar Act for the purposes of the Money laundering Act
Central Government, in consultation with the Unique Identification Authority of India and the Reserve Bank of India, has listed reporting entities permitted to perform authentication under the Aadhaar Act for the purposes of the Money laundering Act.
Reserve Bank of India and Bank of England sign a Memorandum of Understanding on cooperation and exchange of information related to Clearing Corporation of India Limited
This MoU confirms the interests of both the authorities in enhancing cooperation in line with their respective laws and regulations. It will also enable the BoE to assess the application of CCIL for recognition as a third country Central Counterparty (CCP) which is a pre-requisite for UK based banks to clear transactions through CCIL.
Revised Lending and Deposit Rates of Scheduled Commercial Banks – November 2023
RBI on November 30, 2023 has issued Revised Lending and Deposit Rates of Scheduled Commercial Banks – November 2023. Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of November 2023 are also published.
Withdrawal of ₹2000 Denomination Banknotes- status update
The ₹2000 banknotes continue to be legal tender. The facility for exchange of the ₹2000 banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices)1 from May 19, 2023. From October 09, 2023, RBI Issue Offices, in addition to exchanging ₹2000 denomination banknotes across the counters, are also accepting ₹2000 banknotes from individuals / entities for deposit to their bank accounts. Further, members of the public from within the country can send ₹2000 banknotes through India Post from any post office in the country, to any of the RBI Issue Offices for credit to their bank accounts in India.
Revised alert list of entities/platforms/websites recognised as unauthorized forex trading platforms
The Alert List also contains names of entities/platforms/websites which appear to be promoting unauthorised entities/ETPs, including through advertisements of such unauthorised entities or claiming to be providing training/advisory services. This list is not exhaustive. An entity not appearing in the list should not be assumed to be authorised by the RBI. The authorisation status of any person/ETP can be ascertained from the list of authorised persons and authorised ETPs.
RBI Occasional Papers Volume 43 released
The Reserve Bank of India on November 28, 2023 has released Volume 43, No.2, 2022 of its Occasional Papers, a research journal containing contributions from its staff. This issue contains three articles and two book reviews.
RBI Regulatory measures towards consumer credit and bank credit to NBFCs
The commercial banks and NBFCs shall review their extant sectoral exposure limits for consumer credit and put in place, if not already there, Board approved limits in respect of various sub-segments under consumer credit as may be considered necessary by the Boards as part of prudent risk management. In particular, limits shall be prescribed for all unsecured consumer credit exposures. The limits so fixed shall be strictly adhered to and monitored on an ongoing basis by the Risk Management Committee. All top-up loans extended by REs against movable assets which are inherently depreciating in nature, such as vehicles, shall be treated as unsecured loans for credit appraisal, prudential limits and exposure purposes.
Reserve Bank of India (Information Technology Governance, Risk, Controls and Assurance Practices) Directions, 2023
The Reserve Bank of India (Information Technology Governance, Risk, Controls and Assurance Practices) Directions, 2023 is issued to incorporate, consolidate and update the guidelines, instructions and circulars on IT Governance, Risk, Controls, Assurance Practices and Business Continuity/ Disaster Recovery Management.
Release of the India Finance Report of the Centre for Advanced Financial Research and Learning (CAFRAL)
The first flagship publication of the Centre for Advanced Financial Research and Learning (CAFRAL) with the title “India Finance Report 2023” (IFR 2023) was released by Shri Shaktikanta Das, Governor, Reserve Bank of India (RBI).
