Master Direction – Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023
The Reserve Bank of India (RBI) notified Master Direction – Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023. The Directions were issued on 16th January, 2023 and come into immediate effect.
NSE notifies on API for daily submissions of Holding Statements and Bank Balances
The National Stock Exchange (NSE) has issued a notification regarding the Application Programming Interface (API) for daily submissions of Holding Statements and Bank Balances. The notification, inter alia, extends the date of implementation of the functionality for API for daily submission of Holding Statement and Bank Balances. The new date of implementation is 30th January, 2023.
International Financial Services Centres Authority (Investment by International Financial Service Centre Insurance Office) Regulations, 2022
The International Financial Services Centres Authority (IFSCA) has issued the International Financial Services Centres Authority (Investment by International Financial Service Centre Insurance Office) Regulations, 2022. The regulations aim to create a regulatory framework and formulate processes related to investment of assets by an International Financial Service Centre Insurance Office (IIO).
RBI issues Press Release on Periodic Updation of KYC details of Customers
The Reserve Bank (RBI) has taken several measures to rationalise the KYC related instructions taking into account the available technological options for enhancing customers’ convenience). The process for the periodic updation of KYC (re-KYC) was simplified in May 2021. The RBI has now issued a press release dated 6th June 2022 encouraging individual customers get more information on the different options available to them from their bank for completing re-KYC or fresh KYC.
Incentive scheme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions
Under the said scheme, acquiring banks will be provided financial incentives, for promoting Point-of-Sale (PoS) and e-commerce transactions using RuPay Debit Cards and low-value BHIM-UPI transactions (P2M) for the current financial year FY 2022-23.
RBI issues notice of selection of six applications for the Fourth Cohort on Prevention and Mitigation of Financial Frauds
The Reserve Bank of India (RBI) had announced the opening of the Fourth Cohort on Prevention and Mitigation of Financial Frauds under Regulatory Sandbox. It had invited applications to this Cohort by a press release dated 6th June 2022. RBI has now issued a press release announcing its receipt of applications for the said Cohort. The present press release was issued on 5th January, 2023.
Revised list of domestic credit rating agencies (arranged in alphabetical order) for risk weighting their claims for capital adequacy purposes
RBI issues revised list of domestic credit rating agencies (arranged in alphabetical order) for risk weighting their claims for capital adequacy purposes.
RBI Rationalizes reporting Foreign Investment in Single Master Form (SMF) on FIRMS Portal
In cases of delayed reporting, the AD banks shall either advise the Late Submission Fee (LSF) to the applicants, which will be computed by the system or advise for compounding of contravention, as the case may be.
Master Directions – Mortgage Guarantee Companies (Reserve Bank) Directions, 2016
The amendment has provided the guidelines the Mortgage Guarantee Companies shall comply with while declaring dividends.
NSE issues a notification on Tri-Party Repo Market (TRM) Platform – Settlement Calendar for January 2023
Members are requested to transfer securities for Tri-Party Repo Market (TRM) Platform settlement using Settlement mode as ‘On-market’. The settlement calendar for CBRICS for the Month of January 2023 for the NSDL transfer is attached to this notification.
