The Reserve Bank of India vide circular dated January 06, 2022 has revised the definition of Small Business Customers for prior circulars. The amendment has directed Commercial Banks other than Regional Rural Banks, Local Area Banks and Payments Banks shall refer to RBI Master Circular on Basel III Capital Regulations dated July 1, 2015, for the definition of Small Business Customers.
Consultation paper on Maintenance of Record of Mandatory Communication by Regulated Entities
It is proposed that the regulated entities maybe mandated to maintain the record of all such communication, which are mandated to be communicated under the