Reserve Bank of India (Prudential Norms on Capital Adequacy for Local Area Banks) Directions, 2021.
This Master Direction covers instructions regarding the components of capital and the capital required to be provided for by banks for credit and market risks. These Directions serve to specify the prudential norms from the point of view of capital adequacy.
The Labour Ministry extends the public utility service status on banking industry for another 6 months.
Due to the opinion that public interest requires the extension of the public utility service status to the Banking industry, it is extended for a further period of six months with effect from 21st October 2021.
RBI issues revised framework for scale based regulation of NBFC.
As the SBR framework encompasses different facets of regulation of NBFCs covering capital requirements, governance standards, prudential regulation, etc., it has been decided to first issue an integrated regulatory framework for NBFCs under SBR providing a holistic view of the SBR structure, set of fresh regulations being introduced and respective timelines.
RBI releases draft Master Direction on Prudential Regulation for AIFIs – 2021.
The AIFIs shall implement all the three Pillars of Basel III capital regulations. Under Pillar 1, the AIFIs shall adopt the standardized approaches for measurement of capital charge for credit risk and market risk. For operational risk, AIFIs shall adopt the Basic Indicator Approach. The AIFIs will implement other approaches as envisaged under Basel III as and when banks will adopt these approaches.
The International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2021.
Regulations envisage registered capital market intermediaries to undertake cross-border business in capital markets in India and foreign jurisdictions, subject to certain conditions such as ring fencing of operations, appropriate risk management and internal controls, maintenance of records etc.
Foreign Exchange Management (Debt Instruments) (First Amendment) Regulations, 2021.
As per the definition, the “Infrastructure Investment Trust” or “InvIT/ “REIT” means a business trust as defined in sub-clause (i) of clause 13A of section 2 of the Income-tax Act, 1961.”
The International Financial Services Centres Authority (Insurance Intermediary) Regulations, 2021.
An applicant registered as an intermediary or insurance intermediary with IRDAI and desirous of setting up branch office in an unincorporated form in an IFSC, shall hold a valid certificate of registration issued by IRDAI, which is not withdrawn, cancelled or suspended and should have obtained a “No-objection Certificate” from IRDAI to establish branch office in IFSC.
Data Format for Credit Institutions(CI) to Furnish Credit Information to Credit Information Companies(CIC)
The reporting of Relationship Segment data by CIs to CICs would henceforth be mandatory in respect of new loan accounts opened after July 1, 2022.
RBI extends the On Tap Special Long-Term Repo Operations facility for banks till 31st December 2021.
All Small Finance Banks (SFBs) eligible under the Liquidity Adjustment Facility (LAF) can participate in the Scheme. There is no tenor restriction regarding lending by SFBs under the scheme. However, the SFBs will have to ensure that the amount borrowed from the RBI should at all times be backed by lending to the specified segments till maturity of the SLTRO.
RBI updates Enabling Framework for Regulatory Sandbox
RBI updates ‘Enabling Framework for Regulatory Sandbox’ to include ‘On Tap’ application facility for themes of closed cohorts.
