Reserve Bank of India and Bank for International Settlements launch G20 TechSprint 2023
The G20 TechSprint 2023 is open to developers from around the world. Participants may access the page https://hackolosseum.apixplatform.com/h1/g20techsprint2023 for registrations and further steps including submission of solutions.
Revised norms under four-tiered regulatory framework for provisioning for standard assets by primary (Urban) co-operative banks
It has been decided to harmonize the provisioning norms for standard assets applicable to all categories of UCBs, irrespective of their Tier in the revised framework.
Framework for General Credit Card (GCC) Facility
The terms and conditions of the credit facilities extended in the form of GCC shall be as per the Board approved policies of the banks, within the overall framework laid down by Reserve Bank.
Clarification regarding Procedure for remitting the interest earned from the funds of Centrally Sponsored Schemes
Release of funds under Centrally Sponsored Schemes (Css), monitoring utilization of funds released and Procedure for remitting the
interest earned from the funds released shall be done through the single nodal account of Single Nodal Agencies (SNAs).
RBI reviews requirement of Counter-Cyclical Capital Buffer
RBI on April 20, 2023 has notified that it is not necessary to activate CCyB at this point in time.
Minutes of 42nd Meeting of the Monetary Policy Committee
The Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent. The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth.
Draft Circular on Fair Lending Practice – Penal Charges in Loan Accounts
Comments by the stakeholders on the ‘Draft Circular’ may be submitted by May 15, 2023 to the Chief General Manager, Department of Regulation, Central Office, Reserve Bank of India, 12th Floor, Central Office Building, Shahid Bhagat Singh Marg, Fort, Mumbai – 400001 or by e-mail with the subject line “Draft Circular on Fair Lending Practice – Penal Charges in Loan Accounts”.
Framework for acceptance of Green Deposits
REs shall put in place a comprehensive Board-approved policy on green deposits laying down therein, all aspects in detail for the issuance and allocation of green deposits. A copy of the above policy on ‘Green Deposits’ shall be made available on the website of the RE.
Master Direction on Outsourcing of Information Technology Services
The underlying principle of these directions is to ensure that outsourcing arrangements neither diminish Regulated Entities (REs) ability to fulfil its obligations to customers nor impede effective supervision by the RBI.
Simplified Registration of Core Investment Companies
the RBI has revamped the application form for for registration as Core Investment Companies to make it structured and aligned with the extant CIC regulations. The RBI has provided the revised application form together with an indicative list of documents/information to be furnished along with the application.
