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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Exim Bank’s GOI-supported Line of Credit of USD 448 million to the Government of Republic of Uzbekistan for Social Infrastructure and Other Development Projects
EXIM Bank has entered into an agreement dated December 10, 2020 with the Government of Republic of Uzbekistan to make available to it, Government of India supported Line of Credit (LoC) of USD 448 million (USD Four Hundr…
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Rupee Drawing Arrangement - Enabling Bharat Bill Payment System (BBPS) to process cross-border inbound Bill Payments
Government of India has decided to allow foreign inward remittances received under the Rupee Drawing Arrangement (RDA), to be transferred to the KYC compliant bank account of the biller (beneficiary) through Bharat Bill …
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RBI Update: Guidelines on Digital Lending
Government of India has made a reference in para 7 of the RBI Press Release “Recommendations of the Working Group on Digital Lending – Implementation” dated August 10, 2022. Further, Regulated Entities (REs) are advised …
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RBI Update: Foreign Exchange Management (Overseas Investment) Directions, 2022
Government of India has squash Notification No. FEMA 120/2004-RB dated July 07, 2004 (Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004) and Notification No. FEMA 7 (R)…
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RBI Update: Foreign Exchange Management (Overseas Investment) Regulations, 2022
Government of India has inserted new regulations which may be called the Foreign Exchange Management (Overseas Investment) Regulations, 2022. These Regulation Includes namely: Financial commitment by Indian entity by mod…
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RBI Update: Section 23 of the Banking Regulation Act, 1949 – Branch Authorisation Policy – Left Wing Extremism affected districts – Revised List
Please refer to the paragraph 4.2 (c) of the circular DBR.No.BAPD.BC.111/22.01.001/2017- 18 dated June 14, 2022, where a list of 90 Left Wing Extremism (LWE) affected districts in the country, based on the government of …
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RBI Update : Outsourcing of Financial Services - Responsibilities of regulated entities employing Recovery Agents
It has been observed that the agents employed by REs have been deviating from the extant instructions governing the outsourcing of financial services. In view of concerns arising from the activities of these agents, it i…
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RBI Update : Bilateral Netting of Qualified Financial Contracts - Amendments to Prudential Guidelines
It is clarified that: the exemption for foreign exchange (except gold) contracts which have an original maturity of 14 calendar days or less shall be applicable to entities calculating the counterparty credit risk u…
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RBI Update : Authorised Dealer Category-I License eligibility for Small Finance Banks
It has been decided that all the scheduled SFBs, after completion of at least two years of operations as Authorised Dealer Category-II, will be eligible for Authorised Dealer Category-I license, subject to compliance wit…
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