RBI Updates : Interoperable Card-less Cash Withdrawal (ICCW) at ATMs
All banks, ATM networks and WLAOs may provide the option of ICCW at their ATMs. NPCI has been advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks. While UPI would be used fo…
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RBI Updates: Government of India guaranteed term loan extended by SBI to the Government of Sri Lanka- Settlement in INR
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to Regulations 3 and 5 of Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 in terms of which export / import trans…
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RBI Updates: New Definition of Micro, Small and Medium Enterprises - Clarification
It is clarified that the existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAM) of the MSMEs obtained till June 30, 2020 shall remain valid till June 30, 2022 for classification as MSMEs; …
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RBI Updates: Kisan Credit Card Scheme - Eligibility criteria for farmers engaged in fisheries/ aquaculture
Please refer to Para 3.1.1.2 of our circular dated February 04, 2019 on Kisan Credit Card (KCC) Scheme: Working Capital for Animal Husbandry and Fisheries. It has been brought to our notice that licensing/authorisation r…
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RBI Updates: Lending by Commercial Banks to NBFCs and Small Finance Banks (SFBs) to NBFC-MFIs, for the purpose of on-lending to priority sectors
The lending by commercial banks to NBFCs and lending by Small Finance Banks (SFBs) to NBFC-MFIs, for the purpose of on-lending to certain priority sectors, was permitted up to March 31, 2022. To ensure continuation …
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RBI Updates : Liquidity Adjustment Facility- Change in rates
It has been decided by the Monetary Policy Committee (MPC) to increase the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 40 basis points from 4.00 per cent to 4.40 per cent with immediate effect. …
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RBI Updates : Standing Liquidity Facility for Primary Dealers
The policy repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 40 basis points to 4.40 per cent from 4.00 per cent with immediate effect. The Standing Liquidity Facility provided to Primary…
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RBI Updates : Change in Bank Rate
The Bank Rate is revised upwards by 40 basis points from 4 .25 per cent to 4.65 per cent with immediate effect. Penal Interest Rates which are linked to the Bank Rate Item Existing Rate Revised Rate (With immed…
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RBI Updates : Maintenance of Cash Reserve Ratio (CRR)
It has been decided to increase the Cash Reserve Ratio (CRR) of all banks by 50 basis points from 4.00 percent to 4.50 percent of their Net Demand and Time Liabilities (NDTL), effective from the reporting fortnight begin…
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RBI Updates: Review of Minimum Investment Grade Credit Ratings for Deposits of NBFCs
It has been decided that the minimum investment grade credit rating for deposits of NBFCs shall be ‘BBB –’ from any of the SEBI-registered Credit Rating Agencies.
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