Fema / RBI : Discover the revised timelines and requirements outlined in the Master Direction – Reserve Bank of India (Filing of Supervisory ...
Fema / RBI : Master the latest RBI Directions on filing supervisory returns for NBFCs, ensuring compliance with updated reporting requirements ...
Fema / RBI : RBI's Master Directions 2024 mandates guidelines for issuing Commercial Papers and NCDs up to one year, focusing on eligibility, i...
Fema / RBI : Regulations for software export depend upon the medium used. Learn how the export of software through data communication links fro...
Fema / RBI : WITH the Prevention of Money Laundering (Amendment) Act, 2009 (No 21 of 2009) coming into force from June 1, the RBI has advised a...
Fema / RBI : The eighth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act...
Fema / RBI : On a review, it has been decided to include the National Payments Corporation of India. (NPCI) and United Stock Exchange of India ...
Fema / RBI : WITH the Prevention of Money Laundering (Amendment) Act, 2009 (No 21 of 2009) coming into force from June 1, the RBI has advised a...
Fema / RBI : The contentions of the RBI that the dispute is between the Petitioner and Respondents is not acceptable since the dispute arises o...
Fema / RBI : RBI has withdrawn the requirement for prior approval of tie-ups between AD banks and non-bank remittance platforms. The new framew...
Fema / RBI : The issue was fragmented regulations on NRI debt investments. RBI consolidated and updated directions to streamline compliance und...
Fema / RBI : The direction requires entities to obtain LEI codes for participating in RBI-regulated financial markets. Non-compliance results i...
SEBI : The regulator has consolidated all operative circulars under the LODR framework into a single master reference. The update simplif...
Fema / RBI : The RBI has released the Master Direction for Rupee IRDs effective March 2026, setting rules for OTC and exchange-traded derivativ...
It is, therefore, advised that all AIFIs should also follow extant guidelines on `Prudential Norms on Creation and Utilization of Floating Provisions’ issued to banks. Accordingly, we advise that guidelines issued to banks vide our circular No. DBOD.BP.BC.89/ 21.04.048/ 2005-06 dated June 22, 2006 and circular No. DBOD.BP.BC.68/ 21.04.048 / 2006-07 March 13, 2007 (copy enclosed) shall mutatis mutandis apply to AIFIs.
Transaction limit: In amendment of provisions of paragraph 8.1 of the above guidelines, banks are now permitted to offer this service to their customers subject to a daily cap of Rs 50,000/- per customer for both funds transfer and transactions involving purchase of goods/services. Presently, such transactions are subject to separate caps of Rs 5000/- and Rs 10000/ -respectively.
In partial modification of paragraph 3 (ii) thereof, it is advised that apart from the documents mentioned therein, any certificate / registration document issued by Sales Tax / Service Tax / Professional Tax authorities may also be considered for verification of the proof of name, address and activity of the Proprietary concern.
As regards the settlement mechanism for the IRF contracts, it has been decided that all entities having short (sold) position in the IRF contracts and required to deliver securities on the appointed date will move these securities from their respective Subsidiary General Ledger/Constituents ‘ Subsidiary General Ledger (SGL/CSGL) accounts with the RBI to a special “Settlement” SGL account of the respective Clearing Corporations of the Exchanges [Exchange Clearing House (ECH) / Exchange Clearing Corporation (ECC)] authorised to deal in IRF.
On a review of RTGS timings and the volume of business handled by RTGS on Saturdays, the RTGS Standing Committee has decided to extend RTGS timings for customer and inter-bank transactions on Saturdays. Accordingly, the revised time window for customer and interbank transactions in RTGS would be as follows:
Please refer to paragraph 7.5 of our Master Circular dated July 1, 2009 on Lending to Priority Sector, in terms of which loans granted to Housing Finance Companies (HFCs), approved by National Housing Bank for the purpose of refinance, for on-lending to individuals for purchase/construction of dwelling units, provided the housing loans granted by HFCs do not exceed Rs.20 lakh per dwelling unit per family, are eligible to be classified under priority sector. However, the eligibility under this measure is restricted to five per cent of the individual bank’s total priority sector lending, on an ongoing basis. The above special dispensation is applicable to loans granted by banks to HFCs up to March 31, 2010.
2. With a view to disseminating information on the SLR status of a Government security, it has been decided that: (i) the SLR status of securities issued by the Government of India and the State Governments will be indicated in the Press Release issued by the Reserve Bank of India at the time of issuance of the securities; and (ii) an updated and current list of the SLR securities will be posted on the Reserve Bank’s website (www.rbi.org. in) under the link ” Database on Indian Economy”.
Please refer to our circular UBD (PCB) CO.BPD. Cir. No. 15 / 14.01.062 / 2009-10 dated October 22, 2009 on the above subject. We have since received from Government of India (Ministry of External Affairs) copies of notes dated September 3, 2009; September 23, 2009 and October 22, 2009 from the Chairman of UN Security Council’s 1267 Committee regarding changes made in the Consolidated List of Individuals and entities linked to Al-Qaida and Taliban as specified below:
As per the extant instructions, provisions made for NPAs as per prudential norms are deducted from the amount of Gross NPAs to arrive at the amount of Net NPAs. In cases where banks make specific provision for NPAs in excess of what is prescribed under the prudential norms, the total specific provision may be deducted from the amount of Gross NPAs while reporting the amount of Net NPAs. The additional specific provision made by the bank will not be reckoned as Tier II capital.
State and Central Co-operative Banks are required to update the consolidated list of individuals/entities as circulated by Reserve Bank and before opening any new account, it should be ensured that the name/s of the proposed customer does not appear in the list. Further, banks should scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the list.
