Master Circular for Investments by Primary (Urban) Co-operative Banks

The Master Circular provides that the total investments of a co-operative bank in the shares of co- operative institutions shall not exceed 2 per cent of its owned funds (paid-up share capital and reserves). The investment of a bank in the shares of any one co-operative institution shall not exceed 5 per cent of the subscribed capital of that institution.

RBI notifies Application form for Aadhar e-KYC Authentication License

In terms of Section 11A of the Prevention of Money Laundering Act (PMLA), 2002, the government through a notification may permit entities other than banking firms to authenticate client’s Aadhaar number using the e-KYC facility provided by the Unique Identification Authority of India (UIDAI). However, the notification shall be issued only after consulting with the UIDAI and the appropriate regulator.

RBI revises the Large Exposures Framework.

Through this revised framework it has been decided to permit foreign banks to exclude derivative contracts executed prior to April 1, 2019 while computing the derivative exposures on their Head Office (including overseas branches).