RBI Update - Master Direction - Reserve Bank of India (Internal Ombudsman for Regulated Entities) Directions, 2023
The RBI issued the Master Direction - Reserve Bank of India (Internal Ombudsman for Regulated Entities) Directions, 2023. Applicability (1) These Directions shall apply to (a) Banks as defined under clause…
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RBI Update - Fair Lending Practice - Penal Charges in Loan Accounts: Extension of Timeline for Implementation of Instructions
It has been decided to extend the timeline for implementation of the instructions by three months. Accordingly, Regulated entities (REs) shall ensure that the instructions are implemented in respect of all the fresh loan…
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RBI Update - Payments Infrastructure Development Fund – Extension of Scheme and Enhancements
To provide impetus to deployment of acceptance infrastructure, the following enhancements are being made to the Scheme: The beneficiaries identified as part of the PM Vishwakarma Scheme, across the country, shall …
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RBI Update - Classification of MSMEs
The Master Direction- Lending to Micro, Small & Medium Enterprises (MSME) Sector: Existing para Revised para Para 2.2: All the above enterprises are required to register online on the Udyam Registration portal and o…
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RBI Update - MHP Exemption for Transfer of Receivables
It has been decided that transfer of such receivables by eligible transferors will be exempted from Minimum Holding Period (MHP) requirement, subject to fulfilment of the following conditions The residual maturity o…
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RBI Update - Reserve Bank of India (Financial Benchmark Administrators) Directions, 2023
These Directions shall be called the Reserve Bank of India (Financial Benchmark Administrators) Directions, 2023 ‘Financial Benchmark Administrator’ (FBA) means a person who controls the creation, operation and administr…
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RBI Update - Reserve Bank of India (Government Securities Lending) Directions, 2023
RBI issued the Reserve Bank of India (Government Securities Lending) Directions, 2023 The following has been stated namely These Directions shall be applicable to all Government securities lending transactions,…
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RBI Update - Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023
These regulations shall be called the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023. Manner of receipt and payment. – Save as otherwise in a manner as provided in the Act or the rules…
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RBI Update - Trade Credit for imports into India – Submission of return on issuance of bank guarantees for Trade Credits on the Centralised Information Management System (CIMS)
It has been decided to shift the arrangement for reporting of quarterly data on issuance of guarantees for trade credits by AD banks, from XBRL platform to CIMS. The statement has been assigned return code- ‘R131’ on CIM…
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RBI Update - Rupee Drawing Arrangement - Submission of statement/return on CIMS Portal
It has now been decided that with effect from December 26, 2023, submission of the statement E through the XBRL site will be discontinued and shifted to the Centralized Information Management System (CIMS), which is Bank…
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