Fema / RBI notification

Directions for Central Counterparties- Age limit increased for appointment of Directors

RBI/2018-2019/209 DPSS.CO.OD No.2565/06.08.005/2018-2019 (12/06/2019)

In the Section A - Directions on Governance of domestic CCPs authorised to operate in India by the RBI, the upper age limit for appointment of Managing Director, Director, Nominee Director, Independent Director and Chairperson was stipulated as 65 years....

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RBI forms Committee to Review ATM charges and fees

Press Release: 2018-2019/2914 (11/06/2019)

Reserve Bank of India Date : Jun 11, 2019 It was announced in the Part ‘B’ of the Second Bi-Monthly Monetary Policy for the year 2019-20 on June 6, 2019 that the Reserve Bank of India will constitute a Committee to Review the ATM Interchange Fee Structure with a view to give a fillip to the ATM deployment […]...

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RBI waives NEFT & RTGS charges; Instruct banks to pass on benefit to Customers

RBI/2018-2019/208 DPSS (CO) RPPD No.2557/04.03.01/2018-19 (11/06/2019)

The banks are advised to pass on the benefits to their customers for undertaking transactions using the RTGS and NEFT systems with effect from July 1, 2019....

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RBI direction to banks on minimum facilities in BSBD Account

Notification No. RBI/2018-19/206 DBR.LEG.BC.No.47/09.07.005/2018-19 (10/06/2019)

Banks are now advised to offer the following basic minimum facilities in the BSBD Account, free of charge, without any requirement of minimum balance. i. The deposit of cash at bank branch as well as ATMs/CDMs ii. Receipt/ credit of money through any electronic channel or by means of deposit /collection of cheques drawn by Central/State G...

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RBI releases Prudential Framework for Resolution of Stressed Assets

Press Release: 2018-2019/2886 & Circular No. RBI/2018-19/203 DBR.No.BP.BC.45/21.04.048/2018-19 (07/06/2019)

Accordingly, the Reserve Bank has today placed on its website the prudential framework for resolution of stressed assets by banks in the wake of the judgement of the Hon’ble Supreme Court of India....

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RBI reduces policy repo rate by 25 basis points wef June 06, 2019

RBI/2018-19/200 - REF.No.MPD.BC.387/07.01.279/2018-19, RBI/2018-19/199- DBR.No.Ret.BC.44/12.01.001/2018-19, RBI/2018-2019/198- FMOD.MAOG. No.133/01.18.001/2018-19 and RBI/2018-2019/197-FMOD.MAOG.No.132/01.01.001/2018-19 (06/06/2019)

RBI in its Second Bi-Monthly Monetary Policy, 2019-20 has decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 5.75 per cent from 6.0 per cent with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 5.50 per cent, and the marginal standing […]...

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RBI Second Bi-Monthly Monetary Policy, 2019-20 with Statement

Press Release : 2018-2019/2868 and 2018-2019/2867 (06/06/2019)

During June 3rd and 4th, 2019 the Monetary Policy Committee (MPC) assessed recent macroeconomic developments and the outlook. In its meeting today, it voted unanimously to reduce the policy repo rate by 25 basis points, and to change the stance of monetary policy from neutral to accommodative. The unanimous vote reflects the resolve of th...

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RBI releases report on Benchmarking India’s Payment Systems

Press Release: 2018-2019/2864 (04/06/2019)

Date : Jun 04, 2019 RBI releases report on Benchmarking India’s Payment Systems The Reserve Bank of India today released a report on “Benchmarking India’s Payment Systems” which provides a comparative position of the payment system ecosystem in India relative to comparable payment systems and usage trends in other major countries...

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RBI ban S. R. Batliboi from carrying out statutory audit of Banks for one Year

Press Release: 2018-2019/2848 (03/06/2019)

On account of the lapses identified in a statutory audit assignment carried out by M/s S.R. Batliboi & Co. LLP, Chartered Accountants , it has been decided that RBI will not approve the said firm for carrying out statutory audit assignments in commercial banks for one year starting from April 1, 2019. Reserve Bank of […]...

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RBI revises Large Exposures Framework

RBI/2018-19/196  DBR.No.BP.BC.43/21.01.003/2018-19 (03/06/2019)

A bank’s exposures to its counterparties may result in concentration of its assets to a single counterparty or a group of connected counterparties. As a first step to address the concentration risk, the Reserve Bank, in March 1989, fixed limits on bank exposures to an individual business concern and to business concerns of a group....

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