RBI Update- Notification of Significant Benchmark dated 1 st December, 2022
Reserve Bank of India vide its Circular dated 1 st December, 2022 notified six financial benchmarks administered by Financial Benchmarks India Pvt. Ltd. (FBIL) as ‘significant benchmark’ with regard to the Circular on Fi…
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RBI Update: Basel III Framework on Liquidity Standards – Standing Deposit Facility dated 23rd November, 2022
Reserve Bank of India vide its Circular dated 23rd November, 2022, has advised that the overnight balances held by banks with RBI under SDF shall be eligible as ‘Level 1 High Quality Liquid Assets (HQLA)’ for computation…
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RBI Update: Inclusion of Goods and Service Tax Network (GSTN) as a Financial Information Provider under Account Aggregator Framework dated 23rd November, 2022
Reserve Bank of India vide its Circular dated 23 rd November, 2022 and, with a view to facilitate cash flow-based lending to MSMEs, has decided to include Goods and Services Tax Network (GSTN) as a Financial Information …
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RBI Update: Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial years 2022-23 and 2023-24 dated 23 rd November, 2022
Reserve Bank of India vide its Circular dated 23 rd November, 2022 having regard to the Circular FIDD.CO.FSD.BC.No.3/05.02.001/2022-23 dated April 28, 2022 , has advised that the Government of India has approved the cont…
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RBI Update: Agency Commission for Direct Tax collection under TIN 2.0 regime dated 14th November, 2022
Reserve Bank of India vide its Circular dated 14 th November, 2022 modified paragraph 21 of the ‘Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated April 1, 2022’ relat…
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RBI Update- Review of Regulatory Framework for Asset Reconstruction Companies (ARCs) dated 11th October 2022
Reserve Bank of India, vide its circular dated 11 th October, 2022, considering the critical role of Asset Reconstruction Companies (ARCs) in the management of distressed financial assets of banks and financial instituti…
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RBI Update- Multiple NBFCs in a Group: Classification in Middle Layer dated 11th October, 2022
Reserve Bank of India, vide its Circular dated 11 th October, 2022, made a reference to para 1 of the Annex to the Circular on “Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs” issued on October 22…
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RBI Update: Reserve Bank of India (Unhedged Foreign Currency Exposure) Directions, 2022 dated 11 th October, 2022
Reserve Bank of India has received references from banks seeking clarification on various aspects including inter-alia clarity in the definition of ‘entities’ for which banks shall assess UFCE, exempted exposures / entit…
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RBI Update- Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021 - Disclosure of Divergence in Asset Classification and Provisioning dated 11 th October, 2022
Reserve Bank of India, vide its Circular dated 11 th October, 2022, requires Commercial banks (excluding Regional Rural Banks (RRBs) to disclose details of divergence in asset classification and provisioning where such d…
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RBI Update- Diversification of activities by SPDs – Review of permissible non-core activities dated 11th October, 2022
Reserve Bank of India, vide its Circular dated 11 th October, 2022, made a reference to circular DNBR (PD) CC.No.094/03.10.001/2018-19 dated July 27, 2018 in terms of which SPDs, as part of their non-core activities, are…
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