RBI Update - Voluntary transition of Small Finance Banks to Universal Banks
This circular is applicable to all Small Finance Banks. Provisions With the objective of bringing better clarity, the eligibility criteria for an SFB to transition into a Universal bank will now be as follows: scheduled …
Read more
RBI Update - Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2024
These Regulations may be called the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2024 Amendment to Regulation 5 of the Principal Regulations In sub-regula…
Read more
RBI Update - Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) (Amendment) Regulations, 2024
These Regulations may be called the Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) (Amendment) Regulations, 2024. Amendment to Regulation 3.1 of the Principal Regulations In Regul…
Read more
RBI Update - Master Direction – Reserve Bank of India (Asset Reconstruction Companies) Directions, 2024
ARCs play a critical role in the resolution of stressed financial assets of banks and financial institutions, thereby enhancing the overall health of the financial system. To ensure prudent and efficient functioning of A…
Read more
RBI Update - Master Circular - Bank Finance to Non-Banking Financial Companies (NBFCs)
Bank Finance to NBFCs registered with RBI The ceiling on bank credit linked to Net Owned Fund (NOF) of NBFCs has been withdrawn in respect of all NBFCs which are statutorily registered with RBI and are engaged in princ…
Read more
RBI Update - Unauthorised foreign exchange transactions
The Reserve Bank of India (RBI) has come across instances of unauthorised entities offering foreign exchange (forex) trading facilities to Indian residents with promises of disproportionate/exorbitant returns. In th…
Read more
RBI Update: Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2023-24)
All Government transactions done by agency banks for the Financial Year 2023-24 must be accounted for within the same financial year. Accordingly, the following arrangements are put in place to report and account for Gov…
Read more
RBI Update: Reassignment of Lead Bank Responsibility
RBI has decided to reassign the lead bank responsibility in the certain districts as mentioned in the circular. The changes will be effective from April 01, 2024. Link of the Circular: https://www.rbi.org.…
Read more
RBI Update: All Agency Banks to remain open for public on March 31, 2024 (Sunday)
1. The Government of India has made a request to keep all branches of the banks dealing with Government receipts and payments open for transactions on March 31, 2024 (Sunday) so as to account for all the Government trans…
Read more
RBI Update: Cut-off time for uploading of GST, ICEGATE and TIN 2.0 luggage files
1. RBI has advised to refer para 10 on ‘Reporting of transactions by agency banks to RBI’ of ‘Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission’ dated April 1, 2023. 2.…
Read moreShowing 261–270 of 501 updates