RBI extends the guidelines on legal entity identifier (LEI) to Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Financial Companies (NBFCs).
Borrowers who fail to obtain LEI codes from an authorized Local Operating Unit (LOU) shall not be sanctioned any new exposure nor shall they be granted renewal/enhancement of any existing exposure.
RBI notifies Large Exposure Framework (LEF) for NBFCs in the Upper Layer.
An upper-layer NBFC must not have an exposure higher than 20 percent of its capital base to any entity, and its board can approve an additional 5 percent exposure limit to take it to 25 percent.
RBI mandates NBFC to make additional disclosure in their financial statements.
The additional disclosure requirements are in accordance with the Scale Based Regulation and the disclosure requirements applicable to lower layers of NBFCs will be applicable to NBFCs in higher layers. These guidelines shall be effective for annual financial statements for year ending March 31, 2023, and onwards.
RBI notifies regulatory restriction on loans and advances in respect of NBFCs.
The proposals for credit facilities of an amount less than Rupees five crore to these borrowers may be sanctioned by the appropriate authority in the NBFC under powers vested in such authority, but the matter should be reported to the Board.
RBI revises Base III Framework on Liquidity Standards.
RBI has decided to permit banks to reckon Government securities as Level 1 High Quality Liquid Assets (HQLA) under Facility to Avail Liquidity for Liquidity Coverage Ratio (FALLCR) within the mandatory Statutory Liquidity Ratio (SLR) requirement up to 16 per cent of their NDTL.
RBI increases market trading hours.
The trading hours for Commercial paper and Certificates of Deposit, Repo in Corporate Bonds, Government Securities (Central Government Securities, State Development Loans and Treasury Bills) Foreign Currency (FCY)/Indian Rupee (INR) Trades including Forex Derivatives and Call/notice/term money will be 10.am to 3.30 pm.
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.
