RBI Scholarship Scheme for Faculty Members from Academic Institutions 2023
The broad objectives of the scheme are to increase awareness about the activities of the Bank among faculty members and student community; and to provide exposure to faculty members teaching economics and/ or finance in different areas/ activities of operations in the Reserve Bank.
Onboarding of more banks on UDGAM portal
Reserve Bank of India launched a Centralized Web Portal UDGAM (Unclaimed Deposits – Gateway to Access inforMation) on August 17, 2023 for the public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks at one place. The search facility was initially made available on the portal for seven banks and it was intimated to public that the search facility for remaining banks on the portal would be made available in a phased manner by October 15, 2023.
RBI reviews measures for withdrawal of 2000 denomination notes from Circulation
As the period specified for the withdrawal has come to an end, and based on a review, it has been decided to extend the current arrangement for deposit / exchange of ₹2000 banknotes until October 07, 2023.
RBI directs secured creditors to display information about borrowers in their website
REs shall upload this information on their website in the prescribed format. The first such list shall be displayed on the website of REs within six (6) months from the date of this circular, and the list shall be updated on monthly basis.
Standards of accessibility for person’s with disabilities for banking sector
The Rights of Persons with Disabilities Act, 2016, mandates the Central Government to formulate rules and standards for accessibility in various sectors, including banking. RBI and IBA have issued guidelines ensuring that banking services, including ATM facilities, are available to all, including visually impaired and differently-abled individuals.
Master Direction – Reserve Bank of India (Prudential Regulations on Basel III Capital Framework, Exposure Norms, Significant Investments, Classification, Valuation and Operation of Investment Portfolio Norms and Resource Raising Norms for All India Financial Institutions) Directions, 2023
These Directions shall be applicable to the All India Financial Institutions (AIFIs) regulated by the Reserve Bank, viz. the Export-Import Bank of India (EXIM Bank), the National Bank for Agriculture and Rural Development (NABARD), the National Bank for Financing Infrastructure and Development (NaBFID), the National Housing Bank (NHB) and the Small Industries Development Bank of India (SIDBI).
RBI mandates CICs to prepare Data Quality Indexes for Commercial and Microfinance segments
RBI has mandated that CICs shall prepare Data Quality Indexes for Commercial and Microfinance segments. CICs shall provide the DQIs for Commercial and Microfinance segments to all CIs latest by March 31, 2024.
Guidelines for Responsible Lending Conduct – Release of Movable / Immovable Property Documents on Repayment/ Settlement of Personal Loans
RBI vide circular dated September 13, 2023 has issued a guidelines for Responsible Lending Conduct – Release of Movable / Immovable Property Documents on Repayment/ Settlement of Personal Loans. These Directions shall be applicable to all cases where release of original movable / immovable property documents falls due on or after December 1, 2023.
PM Vishwakarma Scheme guidelines for lending institutions
RBI has directed eligible lending institutions to comply with the Scheme guidelines issued by the Ministry of Micro, Small and Medium Enterprises, for appropriate action.
Reserve Bank of India (Classification, Valuation and Operation of Investment Portfolio of Commercial Banks) Directions, 2023
The revised Directions include principle-based classification of investment portfolio, tightening of regulations around transfers to/from held to maturity (HTM) category and sales out of HTM, inclusion of non-SLR securities in HTM subject to fulfilment of certain conditions and symmetric recognition of gains and losses.
