RBI Update - CIMS Project implementation - Discontinuation of submission in legacy XBRL
AD Category-I banks were required to submit the following statements on XBRL site – (i) Statement on half yearly basis (end March/end September) showing the quantity and value of gold imported by the nominated banks…
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RBI Update - Liberalised Remittance Scheme (LRS) for Resident Individuals- Reporting of monthly return and daily transactions
It has now been decided that, with effect from December 26, 2023 , the submission of both the returns through the XBRL site will be discontinued and shifted to the Centralised Information Management System (CIMS), which …
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RBI Update - Reverse Repo transactions - Reporting in Form ‘A’ Return
The Reverse Repo transactions of a bank with non-banks (other institutions) should be reported as under: For original tenors up to and inclusive of 14 days - Not required to be reported in Form A. For origina…
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RBI Update - Card-on-File Tokenisation (CoFT) – Enabling Tokenisation through Card Issuing Banks
It has been decided to enable CoFT directly through card issuing banks / institutions also. This will provide cardholders with an additional choice to tokenise their cards for multiple merchant sites through a single pro…
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RBI Update -Investments in Alternative Investment Funds (AIFs)
In order to address concerns relating to possible evergreening through this route, it is advised as under: (i) REs shall not make investments in any scheme of AIFs which has downstream investments either directly or…
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RBI Update- Processing of e-mandates for recurring transactions
A reference is invited to our circular dated June 16, 2022, in terms of which relaxation in Additional Factor of Authentication (AFA) was permitted while processing e-mandates / standing instructions on cards, Prepaid Pa…
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RBI Update - Sovereign Gold Bond (SGB) Scheme 2023-24
Government of India, has announced Series III and IV of the Sovereign Gold Bond Scheme 2023-24. Under the Scheme, there will be a distinct series (Series III and IV) which will be indicated on the Bond issued to the inve…
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RBI Update- International Trade Settlement in Indian Rupees (INR) – Opening of additional Current Account for export proceeds
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the A.P. (DIR Series) Circular dated July 11, 2022, in terms of which an additional arrangement has been put in place for invoicing, payme…
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RBI Update - Regulatory measures towards consumer credit and bank credit to NBFCs
RBI has issued the circular on Regulatory measures towards consumer credit and bank credit to NBFCs which states the following Consumer credit exposure of commercial banks It has been decided to increase the risk weights…
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RBI Update - Fully Accessible Route’ for Investment by Non-residents in Government Securities – Inclusion of Sovereign Green Bonds
It is decided to designate all Sovereign Green Bonds issued by the Government in the fiscal year 2023-24 as ‘specified securities’ under the FAR. Link - https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12563&…
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