No sooner political hurdles were out and consensus amongst the political party reach in the Rajya Sabha, 122nd Constitutional Amendment Bill,16 states have immediately ratified 122nd Constitutional Amendment Bill and thereafter subsequent steps and actions, which has been taken by the Central Govt.
Cash withdrawal from a bank account over the counter shall be restricted to Rs. 10,000/- per day subject to an overall limit of Rs. 20,000/- a week from the date of the notification until the end of business hours on 24th November, 2016
Changes in the Schemes for Stressed Assets have been carried out with the objectives of harmonisation of stand-still clause as applicable in case of Strategic Debt Restructuring Scheme with other guidelines;
Scheme for Sustainable Structuring of Stressed Assets has been partially modified as indicated in the Annex. All other provisions of the Scheme remain unchanged.
Please refer to the paragraph 4 of Statement on Developmental and Regulatory Policies issued by RBI on October 4, 2016. It was indicated therein that RBI will issue final guidelines on capital requirements for bank exposures to central counterparties. Accordingly, final guidelines are annexed. These guidelines will become effective from April 1, 2018.
Please refer to the paragraph 4 of the Statement on Developmental and Regulatory Policies issued by RBI on October 4, 2016. It was indicated therein that RBI will issue final guidelines on Standardised Approach for computing exposure for counter party credit risk arising from derivative transactions. Accordingly, the final guidelines are annexed.
Please refer to our circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015 setting out RBI directions relating to IFSC Banking Units (IBUs). We have received a few suggestions and queries during the last few months reflecting practical issues faced by banks in implementing these regulations. These issues have been examined
It has been decided to start reckoning the market value of collateral securities for the purpose of RBI Repo (including MSF) and Reverse Repo operations and to allow re-repoing of securities received under RBI Reverse Repo operations with effect from November 26, 2016.
Payment Systems (RTGS, NEFT, Cheque Clearing, Repo, CBLO and Call markets) shall remain open on Saturday, November 12 and Sunday, November 13, 2016.
The action of demonetization of Rs. 500, 1000 currency notes has been a bold one, impacting one and all across the nation, widely applauded and apparently sounds in the interest of nation.
