RBI to operationalise Standing Deposit facility (SDF) with effect from 8th April 2022.
Under the SDF, the eligible entities can place deposits with the RBI on an overnight basis. The RBI, however, retains the flexibility to absorb liquidity for longer tenors under the SDF with appropriate pricing, as and when the need arises.
RBI issues statement on Developmental and Regulatory Policies.
To encourage card-less cash withdrawal facility across all banks and all ATM networks / operators, it is proposed to enable customer authorisation through the use of Unified Payments Interface (UPI) while settlement of such transactions would happen through the ATM networks.
Master Circular to Urban Co-operative Banks on Management of Advances
CICs are directed to formulate appropriate policies with the approval of their Boards to share the credit information relating to SHGs or SHG members, on an aggregate basis with the Government agencies, NABARD, banks and MFIs for the purpose of credit planning and research.
RBI notifies Draft guidelines on ‘Processing and Settlement of small value Export and Import related payments’ facilitated by Online Export-Import Facilitators (OEIF).
The Authorised dealer banks have been permitted to offer the facility of processing and settlement of import and export related remittances by entering into standing contract with Online Payment Gateway Service Providers (OPGSPs) in respect of export of goods and services as well as import of goods and software.
RBI releases Guidelines on Establishment of Digital Banking Units (DBUs).
The Scheduled Commercial Banks (other than RRBs, PBs and LABs) with past digital banking experience are permitted to open DBUs in Tier 1 to Tier 6 centres, unless otherwise specifically restricted, without having the need to take permission from Reserve Bank of India in each case.
Master Circular for consolidating prudential guidelines on Basel III capital adequacy issued to banks
Basel III reforms are the response of Basel Committee on Banking Supervision (BCBS) to improve the banking sector’s ability to absorb shocks arising from financial and economic stress, whatever the source, thus reducing the risk of spill over from the financial sector to the real economy.
RBI revises Master Direction on Classification, Valuation and Operation of Investment Portfolio of Commercial Banks (Directions), 2021
It is provided that the investment in Category I and Category II Alternate lnvestment Funds, which includes Venture Capital Funds, shall receive the same prudential treatment as applicable for investment in Venture Capital Funds.
Arrangements to report and account for Government transactions for March 31, 2022
All agency banks should keep their designated branches open for over the counter transactions related to government transactions upto the normal working hours on March 31, 2022.
Framework for Geo-tagging of Payment System Touch Points
Geo-tagging information in respect of the following shall be submitted to the Reserve Bank: PoS terminals (Mobile PoS, Soft PoS, Tablet PoS, Desktop PoS, Self-service Kiosk PoS, Android-based PoS terminals, Non-Android-based PoS terminals with GPRS SIM Card-embedded, Non-Android-based PoS terminals with PSTN Line Connectivity, etc.); and Paper-based / Soft QR Codes (Bharat QR, UPI QR, etc.).
RBI notifies amendments to Payment and Settlement Systems Regulations, 2008.
Regulation 6 deals with submission of returns, documents etc in which every system provider shall be bound to submit to the Bank such returns, documents and other information as may be required by the Bank from time to time.
