RBI notifies the Statement on Developmental and Regulatory Policies.

RBI has extended the tap on Special Long-Term Repo Operations (SLTRO) for small finance banks (SFBs) till 31st December 2021.A three-year SLTRO facility of ₹10,000 crore at the repo rate was made available to SFBs in May 2021 to be deployed for fresh lending of up to ₹10 lakh per borrower.

Value Free Transfer (VFT) of Government Securities Guidelines

Eligible VFTs and permitted VFTs can be initiated through Core Banking System of RBI viz., e-Kuber. The VFTs so undertaken shall be subject to concurrent audit by SGL/CSGL holders on a 100% sampling basis. The auditor shall verify that the transactions comply with the guidelines and any deviations may be brought to notice of the Bank by the SGL/CSGL holders immediately.

RBI publishes master direction on Transfer of Loan Exposures.

The lenders must put in place a comprehensive Board-approved policy for transfer and acquisition of loan exposures under these guidelines. These guidelines must, inter alia, lay down the minimum quantitative and qualitative standards relating to due diligence, valuation, requisite IT systems for capture, storage and management of data, risk management, periodic Board level oversight, etc.