RBI: Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List: Amendments in 85 Entries
Section 51 of Master Direction on Know Your Customer dated February 25, 2016, as amended on January 04, 2024 (MD on KYC), in terms of which “Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlaw…
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RBI Update - Guidelines on import of gold by Tariff Rate Quota (TRQ) holders under the India-UAE CEPA as notified by–The International Financial Services Centres Authority (IFSCA)
It has been decided that , AD Category-I banks may allow valid Tariff Rate Quota (TRQ) holders under the India-UAE CEPA to remit advance payment for eleven days for import of gold through IIBX against the TRQ. Link …
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RBI Update - Streamlining of Internal Compliance monitoring function – leveraging the use of technology
RBI had recently carried out an assessment in select Supervised Entities (SEs) of the prevailing system in place for internal monitoring of compliance with regulatory instructions and the extent of usage of technological…
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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)
Please refer to Section 52 of our 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 ensure meticulous…
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RBI Update - Risk Management and Inter-Bank Dealings – Hedging of foreign exchange risk
The Foreign Exchange Management (Foreign Exchange Derivative Contracts) (First Amendment) Regulations, 2020 (Notification dated February 18, 2020) and A. P. (DIR Series) circular dated April 07, 2020 (which came into eff…
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RBI Update - Amendment to the Master Direction (MD) on KYC
The Master Direction (MD) on KYC dated February 25, 2016, as amended from time to time, in terms of which Regulated Entities (REs) have to undertake Customer Due Diligence (CDD), as per the process laid out therein, for …
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RBI Update - Master Direction – Reserve Bank of India (Commercial Paper and Non-Convertible Debentures of original or initial maturity up to one year) Directions, 2024
RBI on January 03, 2024 has issued revised Master Direction – Reserve Bank of India (Commercial Paper and Non-Convertible Debentures of original or initial maturity upto one year) Directions, 2024. The master directions …
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RBI Update - Inoperative Accounts /Unclaimed Deposits in Banks- Revised Instructions
It has been decided to issue comprehensive guidelines on the measures to be put in place by the banks covering various aspects of classifying accounts and deposits as inoperative accounts and unclaimed deposits, as the c…
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RBI Update - Review of Instructions on Bulk Deposits for Urban Co-operative Banks (UCBs)
It has been decided to enhance the bulk deposit limit for Scheduled Primary (Urban) Co-operative Banks, in Tier 3 and 4, to Rupees one crore and above. Accordingly, “Bulk Deposit” for Primary (Urban) Co-operative Banks w…
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RBI Update - Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Review of National Development Banks
It has been decided that the other All India Financial Institutions (AIFIs) i.e. EXIM Bank and National Bank for Financing Infrastructure and Development (NaBFID) shall also be considered as National Development Banks (N…
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