RBI Update - Government Debt Relief Schemes (DRS)
Prudential treatment in respect of Government Debt Relief Schemes (DRS) Participation in the DRS REs may decide on participating in a particular DRS notified by a Government, based on its Board approved policy,…
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RBI Update - Introduction of beneficiary bank account name look-up facility for Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) Systems
Banks which are participants of RTGS and NEFT Systems, shall make this facility available to their customers through Internet banking and Mobile banking. The facility shall also be available to remitters visiting branche…
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RBI Update - Reporting Platform for transactions undertaken to hedge price risk of gold
It has been decided to mandate reporting of transactions in gold derivatives undertaken by banks and their customers / constituents as under: Banks shall report all over-the-counter (OTC) transactions in gold deri…
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RBI Update - Unified Payments Interface (UPI) access for Prepaid Payment Instruments (PPIs) through third-party applications
Currently, UPI payments from / to a bank account can be carried out using the UPI application of that bank or of any third-party application provider. However, UPI payments from / to a PPI can only be carried out using t…
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RBI Update - Credit Flow to Agriculture – Collateral free agricultural loans
It has been decided to raise the limit for collateral free agricultural loans including loans for allied activities from the existing level of ₹1.6 lakh to ₹2 lakh per borrower. Accordingly, banks are advised to waive co…
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RBI Update - Maintenance of Cash Reserve Ratio (CRR)
Banks are required to maintain the CRR at 4.25 per cent of their NDTL effective from the reporting fortnight beginning December 14, 2024 and 4.00 per cent of their NDTL effective from fortnight beginning December 28, 202…
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RBI Update - Interest Rates on Foreign Currency (Non-resident) Accounts (Banks) [FCNR(B)] Deposits
It has been decided to increase the interest rates ceiling on fresh FCNR(B) deposits raised by the banks with effect from December 06, 2024 as under: Period of Deposit Ceiling Rate 1 year to less than 3 years Overni…
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RBI Update - Amendment to Framework for Facilitating Small Value Digital Payments in Offline Mode
RBI circular dated January 03, 2022 (updated as on August 24, 2023) which enabled small value digital payments in offline mode (Offline Framework). The framework, inter-alia, prescribes an upper limit of ₹500 for offline…
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RBI Update - Inoperative Accounts / Unclaimed Deposits in banks
The banks are, advised to take necessary steps urgently to bring down the number of inoperative/ frozen accounts and make the process of activation of such accounts smoother and hassle free, including by enabling seamles…
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RBI Update - Fully Accessible Route’ for Investment by Non-residents in Government Securities – Inclusion of Sovereign Green Bonds
The Government Securities that are eligible for investment under the FAR (‘specified securities’) were notified by the Bank vide the following circulars: FMRD.dated March 30, 2020; FMRD.dated July 07, 2022; …
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