Clarification regarding the Standing Liquidity Facility for Standalone Primary Dealers
On a review of current and evolving liquidity conditions, the Reserve Bank of India has decided that an additional amount of ₹5,000 crore will be made available under the Standing Liquidity Facility for standalone primary dealers on March 31, 2023 at the prevailing repo rate.
RBI lays the Foundation Stone of a ‘New Greenfield Data Centre’ and ‘Enterprise Computing & Cybersecurity Training Institute’
On this occasion the Governor highlighted the need for augmenting the existing computing infrastructure of the RBI supported by cutting edge facilities for research and capacity building in emerging areas straddling central banking, technology and cybersecurity for a future ready RBI.
IRDAI amends Master Guidelines on AML/CFT
The Master Circular now defines “Politically Exposed Persons (PEPs)” and assigns them the meaning as per the Prevention of Money Laundering (Maintenance of Records) Rules, 2005. Further, the present Circular directs the insurers to take note of the amendments notified to PML Rules and take necessary steps to implement the same.
NSE Revises list of Approved Securities and Approved Banks in Futures and Options Segment
The Circular, inter alia, stipulates for market wide applicable limit, member security specific limits and applicable haircut rates for each of the securities.
NSE Revises list of Approved Securities and Approved Banks in Commodity Derivatives Segment
The revised list of approved securities, GOI securities, open ended mutual funds, corporate bonds and list of approved banks for issuance of bank guarantees (BG)/fixed deposit receipts (FDR) comprises 7 annexures enumerated in the Circular.
Schemes for implementing Pradhan Mantri Awas Yojana – Urban (PMAY-U)
The Primary Lending Institutes (PLIs) were supposed to upload all eligible claims for interest subsidy loan for housing by 31.03.2022. Following request received from Central Nodal Agency, the deadline for uploading the claims on the CNA portal was extended till 30.06.2022 so that no eligible beneficiary is denied interest subsidy.
Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2023
The amendment provides that every Banking Company or Financial Institution or intermediary, as the case may be, shall register the details of a client, in case of client being a non-profit organization, on the DARPAN Portal of NITI Aayog, if not already registered, and maintain such registration records for a period of five years after the business relationship between a client and a reporting entity has ended or the account has been closed, whichever is later.
RBI launches the Mission ‘Har Payment Digital’
Under this programme, Payment System Operators (PSOs) will adopt 75 villages across the country and convert them into digital payment enabled villages.
Mandatory Brand Guidelines for BHIM UPI
Member Banks, PSPs, and TPAPs are requested to ensure compliance before March 31, 2023.
IFSC issues Guidelines for execution of block deals on the Bullion Exchange
The IFSC has deemed it necessary to enable a mechanism for execution of large trades in gold in a single transaction without putting either the buyer or the seller in a disadvantageous position. In order to facilitate execution of such large trades, the Bullion Exchange is being permitted to provide a separate trading window for this purpose.
