RBI Update: Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List: Addition of two entries.
RBI vide its Notification dated 27th April, 2023 issued to The Chairpersons/CEOs of all the Regulated Entities. The notification state: Section 51 of our Master Direction on Know Your Customer dated February 25…
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RBI Update : Amendment to the Master Direction (MD) on KYC – Instructions on Wire Transfer
It has been decided to amend the MD on KYC to update the instructions on Wire Transfer (Section 64 of the MD), also aligning the same with the relevant FATF Recommendation. The amended instructions of Section 64 of the M…
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RBI Update: General Credit Card (GCC) Facility – Review.
RBI vide its Notification dated 25 th April, 2023 issued to Scheduled Commercial Banks (excluding Payments Banks) and Scheduled Urban Co-operative Banks. Circular dated December 02, 2013 Revised General Credit Card …
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RBI Update: Provisioning for standard assets by primary (Urban) co- operative banks – revised norms under four-tiered regulatory framework.
RBI vide its Notification dated 24th April 2023 to, All Primary (Urban) Co-operative Banks. Circular dated December 01, 2022, in which Urban Co-operative Banks (UCBs) have been categorized into four Tiers for regula…
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RBI Update: Authorised Dealers Category-II - Online submission of Form A2.
RBI vide its Notification dated 12 th April, 2023 issued to all Authorised Dealers in Foreign Exchange The Notification states: AD Category-I banks and AD Category-II entities are invited to read A.P. (DIR Seri…
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RBI Update: Framework for acceptance of Green Deposits.
RBI vide its Notification dated 11 th April, 2023 issued to all Scheduled Commercial Banks including Small Finance Banks (excluding Regional Rural Banks, Local Area Banks and Payments Banks), All Deposit taking Non-Banki…
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RBI Update: Master Circular - Housing Finance for UCBs.
RBI vide its Notification dated 11 th April, 2023 issued to All Primary (Urban) Co-operative Banks. The Notification States: The Master Circular dated on 23 rd June, 2022 regarding housing finance for UCBs has …
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RBI Update: Master Direction on Outsourcing of Information Technology Services.
RBI vide its notification dated on 10th April, 2023 issued to all Scheduled Commercial Banks (excluding Regional Rural Banks); Local Area Banks; Small Finance Banks; Payments Banks; Primary (Urban) Co-operative Banks; No…
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RBI Update: APConnect - Online application for Full Fledged Money Changers and non-bank Authorised Dealers Category-II.
RBI vide its Notification dated 6 th April, 2023 to Full Fledged Money Changers, non-bank Authorized Dealers Category II. The Notification States: A software application called ‘APConnect’ has been developed fo…
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RBI Update: Master Direction – Facility for Exchange of Notes and Coins
RBI vide its notification dated on 3 rd April, 2023 to all banks. The notification states: In exercise of the powers conferred under Section 35A of the Banking Regulation Act, 1949, refer with sections 28, 38, 39, 5…
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