RBI Notifications - Page 20

Comprehensive Cyber Security Framework for Primary UCBs – A Graded Approach

Notification No. RBI/2019-20/129 DoS.CO/CSITE/BC.4083/31.01.052/2019-20 (31/12/2019)

On further examination, a comprehensive Cyber Security Framework for UCBs has been formulated based on a graded approach. The UCBs have been categorised into four levels based on their digital depth and interconnectedness to the payment systems landscape. The levels are defined as below:...

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Cyber Security controls for Third party ATM Switch Application Service Providers

Notification No. RBI/2019-20/130 DoS.CO/CSITE/BC.4084/31.01.015/2019-20 (31/12/2019)

Reserve Bank of India RBI/2019-20/130 DoS.CO/CSITE/BC.4084/31.01.015/2019-20 December 31, 2019 To The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) All Small Finance Banks and Payments Banks All Primary (Urban) Co-operative Banks All Local Area Banks and White-Label ...

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Extension of relaxation on guidelines to NBFCs on securitisation transactions

Notification No. RBI/2019-20/131 DOR. NBFC(PD) CC.No.107/03.10.001/2019-20 (31/12/2019)

Relaxation on the guidelines to NBFCs on securitisation transactions and the circular DNBR (PD)CC.No.100/03.10.001/2018-19 dated May 29, 2019 extending the dispensation till June 30, 2020....

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RBI Guidelines on constituting Board of Management in Primary UCBs

Circular No. RBI/2019-20/128 DoR (PCB).BPD.Cir.No.8/12.05.002/2019-20- Press Release: 2019-2020/1565 (31/12/2019)

UCBs with deposit size of ₹100 crore and above shall constitute BoM which will also be a mandatory requirement for allowing such banks to expand their area of operation and open new branches. UCBs with a deposit size less than ₹100 crore and Salary Earners’ Banks are exempted from constituting BoM. However, for having good governanc...

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All Authorised Payment Systems & Instruments permitted for linking with Fastags

RBI/2019-20/126 DPSS.CO.PD No.1227/02.31.001/2019-20 (30/12/2019)

The transactions in the NETC system can be performed without any Additional Factor of Authentication (AFA) and / or pre-transaction notification / alert....

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New Proposed Lending Norms For Urban-Cooperative Banks

Press Release: 2019-2020/1541 (30/12/2019)

RBI releases draft circular on Limits on Exposure to Single and Group Borrowers/Parties and Large Exposures and Revision in Priority Sector Lending Targets for UCBs...

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UCBs to report Large Exposures to CRILC: RBI

Notification No. RBI/2019-20/125 DOR (PCB).BPD.Cir.No.7/13.05.000/2019-20 (27/12/2019)

It has been decided that Primary (Urban) Co-operative Banks (UCBs) having total assets of ₹500 crore and above as on 31st March of the previous financial year shall report credit information, including classification of an account as Special Mention Account (SMA), on all borrowers having aggregate exposures of ₹5 crore and above with ...

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RBI introduces semi-closed PPIs upto ₹ 10000 with loading from bank A/c

Notification No. RBI/2019-20/123 DPSS.CO.PD.No.1198/02.14.006/2019-20 (24/12/2019)

Introduction of a new type of semi-closed Prepaid Payment Instrument (PPI) – PPIs upto ₹ 10,000/- with loading only from bank account Reserve Bank of India RBI/2019-20/123 DPSS.CO.PD.No.1198/02.14.006/2019-20 December 24, 2019 All Prepaid Payment Instrument Issuers Madam / Dear Sir, Introduction of a new type of semi-closed Prepaid Pa...

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RBI amends Master Directions-NBFC – Peer to Peer Lending Platform

RBI/2019-20/121 DOR.NBFC(PD) CC.No.106/03.10.124/2019-20 (23/12/2019)

On a review, it has been decided that (i) The aggregate exposure of a lender to all borrowers at any point of time, across all P2P platforms, shall be subject to a cap of ₹ 50,00,000 provided that such investments of the lenders on P2P platforms are consistent with their net-worth....

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Setting up of IFSC Banking Units – Permissible Activities amended

RBI/2019-20/122 DOR.IBD.BC.26/23.13.004/2019-20 (23/12/2019)

IBUs are not allowed to open savings accounts. They can open foreign currency current accounts of units operating in IFSC and of non-resident institutional investors to facilitate their investment transactions. They can also open foreign currency current accounts (including escrow accounts) of their corporate borrowers subject to the prov...

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October 2020