The NABARD vide circular dated 23 November, 2021 has directed that regional rural banks may initiate urgent and definite steps to reconcile all outstanding entries pending for more than 6 months. Further, the amounts to the
credit of any account which has not been operated upon for ten years or any deposits or any amount remaining
unclaimed for ten years or more may be credited to the DEA Fund strictly in line with RBI’s Circular dated 21
March 2014.
RBI to conduct Daily Variable Rate Repo (VRR) Auctions
RBI has decided to conduct Variable Rate Repo (VRR) auctions on all working days in Mumbai with reversal taking place on the next working day,