RBI Update - Amendment to the Master Direction - Know Your Customer (KYC) Direction, 2016
The Master Direction on KYC has been amended to (a) align the instructions with the recent amendments carried out in the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 vide Gazette Notification …
Read more
RBI Update - Directions for Central Counterparties (CCPs)
Based on a periodic review of the Directions for CCPs, the updated directions governing the functioning of CCPs are below Applicability The provisions of these directions shall apply to a domestic central count…
Read more
RBI Update - Reserve Bank of India (Access Criteria for NDS-OM) Directions, 2024
These Directions shall be called the Reserve Bank of India (Access Criteria for NDS-OM) Directions, 2024. These Directions shall come into force with effect from October 18, 2024. Eligible Entities The fol…
Read more
RBI Update - Submission of information to Credit Information Companies (CICs) by ARCs
Submission of information to Credit Information Companies’ 1 , ARCs had been advised to become a member of at least one CIC. In order to align these guidelines with the guidelines applicable to banks and NBFCs and with a…
Read more
RBI Update - Implementation of Credit Information Reporting Mechanism subsequent to cancellation of licence or Certificate of Registration
All CIs, whose licence or CoR has been cancelled by the Reserve Bank of India shall be categorised as \"Credit Institutions\" under Section 2(f)(vii) of CICRA. These CIs shall continue to report credit information o…
Read more
RBI Update - Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit
Government of India, vide Trade Notice dated September 30, 2024, has allowed for an extension of the Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit ('Scheme') for three months up to December 3…
Read more
RBI Update - Due diligence in relation to non-resident guarantees availed by persons resident in India
The Reserve Bank of India (RBI) has come across instances of guarantees (including Standby Letters of Credit [SBLCs] and / or performance guarantees) issued by persons resident outside India, favouring persons resident i…
Read more
RBI Update - Directions - Compounding of Contraventions under FEMA, 1999
Section 15 of the FEMA, 1999, any contravention under section 13 of FEMA 1999 {except that of Section 3(a) of the Act} may, on an application made by the person committing such contravention (hereafter referred as ‘appli…
Read more
RBI Update - Gold loans - Irregular practices observed in grant of loans against pledge of gold ornaments and jewellery
The Reserve Bank has recently carried out a review of the adherence to prudential guidelines as well as practices being followed by SEs with regard to loans against pledge of gold ornaments and jewellery. The review…
Read more
RBI Update - Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit
Government of India (Gol), vide Trade Notice dated August 31, 2024, read with Trade Notice dated September 17, 2024, has allowed for an extension of the Interest Equalization Scheme for Pre and Post Shipment Rupee Export…
Read moreShowing 211–220 of 501 updates