RBI Update - Liberalised Remittance Scheme (LRS) for Resident Individuals- Discontinuation of Reporting of monthly return
It has now been decided to discontinue the requirement for submission of LRS monthly return by AD Category-I banks. Accordingly, from the reporting month of September 2024, AD Category-I banks shall not submit LRS monthl…
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RBI Update - Review of Extant Instructions – Withdrawal of Circulars
List of circulars withdrawn Sr. No. Circular No. Date Subject Rationale for withdrawal 1. RPCD.No.SP.BC.14/PS.160-87/88 July 31, 1987 Credit facilities to Minority Communities The reporting formats prescribed in the…
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RBI update - Scheme for Trading and Settlement of Sovereign Green Bonds in the International Financial Services Centre in India
The Scheme shall apply to investments in Sovereign Green Bonds issued by the Government of India by eligible investors in the IFSC in India. Eligible investors The following persons will be eligible to particip…
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RBI Update - Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit
Government of India, vide Trade Notice dated June 28, 2024 read with Trade Notice dated July 10, 2024 has allowed for an extension of the Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit ('Schem…
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RBI Update -Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/1989 ISIL (Da'esh) & Al-Qaida Sanctions List: Amendments in 01 Entry
Ministry of External Affairs (MEA), Government of India has informed about the UNSC press release SC/15800 dated August 23, 2024 wherein the Security Council Committee pursuant to resolutions 1267 (1999), 1989 (2011) and…
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RBI Update - Review of Master Direction - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017
It has been observed that some of these platforms have adopted certain practices which are violative of the said Directions. Such practices include, among others, violation of the prescribed funds transfer mechanism, pro…
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RBI Update - Review of Master Direction - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017
It has been observed that some of these platforms have adopted certain practices which are violative of the said Directions. Such practices include, among others, violation of the prescribed funds transfer mechanism, pro…
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RBI Update - Review of Risk Weights for Housing Finance Companies (HFCs)
It has been decided to carry out the following modifications: (i) Risk weighted assets for undisbursed amount of housing loans/other loans – In order to address a potential anomaly in computation of risk weighted as…
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RBI Update - Review of regulatory framework for HFCs and harmonisation of regulations applicable to HFCs and NBFCs
HFCs accepting public deposits are subject to more relaxed prudential parameters on deposit acceptance as compared to NBFCs. Since the regulatory concerns associated with deposit acceptance are same across all categories…
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RBI Update - Frequency of reporting of credit information by Credit Institutions to Credit Information Companies
It is directed that CICs and CIs shall keep the credit information collected/maintained by them updated regularly on a fortnightly basis (i.e., as on 15th and last day of the respective month) or at such shorter interval…
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