RBI Update: Reporting and Accounting of Central Government transactions for March 2024
1. RBI has advised to refer to Circular DGBA.GBD.No.S1469/42-01-029/2022-2023 dated March 16, 2023 advising the procedure to be followed for reporting and accounting of Central Government transactions (including CBDT, CB…
Read more
RBI Update: Implementation of Section 12A of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005: Designated List (Amendments)
1. RBI has advised to refer to Section 52 of Master Direction on Know Your Customer dated February 25, 2016 as amended on January 04, 2024 (MD on KYC), in terms of which, inter alia \"Regulated Entities (REs) shall ensur…
Read more
RBI Update: Amendment to Master Direction on Prepaid Payment Instruments
1. This has reference to the Master Directions CO.DPSS.POLC.No.S-479/02.14.006/2021-22 dated August 27, 2021, on Prepaid Payment Instruments (MD-PPIs) (as amended from time to time), which prescribes, inter alia, the var…
Read more
RBI Update: Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit
Kindly refer to the instructions issued vide DOR.STR.REC.93/04.0 2.001/2021-22 dated March 8, 2022 and DOR.STR.REC.39/04.02.001/2022-23 dated May 31, 2022. 1. The government of India has allowed for the extension of…
Read more
RBI Update: Inclusion of Clearing Corporation of India Limited as a Financial Information Provider under Account Aggregator Framework
1. RBI launched the Retail Direct Scheme (‘Scheme’) on November 12, 2021, to facilitate retail investors to invest in Government Securities. The Scheme enables individuals to open Retail Direct Gilt Accounts with the Ban…
Read more
RBI Update: Formation of a new district in the State of Assam – Assignment of Lead Bank Responsibility
The Government of Assam has notified the formation of a new district, viz., Hojai in the state of Assam vide Gazette Notification ECF.No.367433/28 dated September 07, 2023. Accordingly, it has been decided to designate t…
Read more
RBI Update: Exclusion of “Rupee Co-operative Bank Limited” from the Second Schedule to the Reserve Bank of India Act, 1934
It is advised that “Rupee Co-operative Bank Limited” has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DoR.REG/LIC.No.S4847/07.12.000/2023-24 dated November 29, 2023, whi…
Read more
RBI Update: Participation of Indian Banks on India International Bullion Exchange IFSC Limited (IIBX)
It has been decided to allow: a) Branch/subsidiary/joint venture of an Indian bank in GIFT-IFSC to act as a Trading Member (TM)/Trading and Clearing Member (TCM) of IIBX, and b) Indian banks authorized to impor…
Read more
RBI Update: Review of Fixed Remuneration granted to Non-Executive Directors (NEDs)
Banks are advised to revise the ceiling limit of remuneration of NEDs from Rs. 20 lakh per annum to Rs. 30 lakhs per annum in order to further enable the banks to sufficiently attract qualified competent individuals on t…
Read more
RBI Update: Participation of Indian Banks on India International Bullion Exchange IFSC Limited (IIBX)
It has been decided to allow: a) Branch/subsidiary/joint venture of an Indian bank in GIFT-IFSC to act as a Trading Member (TM)/Trading and Clearing Member (TCM) of IIBX, and b) Indian banks authorized to impor…
Read moreShowing 271–280 of 501 updates