RBI Notifications - Page 4

Exclusion of ‘Westpac Banking Corporation’ from Second Schedule to RBI Act, 1934

RBI/2020-21/30 DOR.No.Ret.BC.10/12.07.150/2020-21 (03/09/2020)

We advise that the Westpac Banking Corporation has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DOR.IBD.No.99/23.13.138/2020-21 dated July 18, 2020,...

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RBI Announces Measures to Foster Orderly Market Conditions

Press Release: 2020-2021/263 (31/08/2020)

While announcing special open market operations on August 25, 2020 the Reserve Bank stated that it would continue to monitor evolving liquidity and market conditions and take measures as appropriate to ensure orderly functioning of financial markets....

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Debts Recovery Tribunal (Procedure) Amendment Rules, 2020

Notification No. G.S.R. 537(E) (26/08/2020)

(1) These rules may be called the Debts Recovery Tribunal (Procedure) Amendment Rules, 2020 (2) They shall come into force on the date of their publication in the Official Gazette....

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UCBs to submit returns under section with RBI by 30.09.2020

RBI/2020-21/28 DoR (PCB).BPD.Cir.No.2/12.05.001/2020-21 (26/08/2020)

Reserve Bank hereby extends the said period of three months for the furnishing of the returns under Section 31 of the Act for the financial year ended on March 31, 2020 by a further period of three months. Accordingly, all UCBs shall ensure submission of the aforesaid returns to Reserve Bank on or before September 30, 2020....

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New Definition of Micro, Small & Medium Enterprises- clarifications

RBI/2020-2021/26 FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 (21/08/2020)

(i) Classification / re-classification of MSMEs is the statutory responsibility of the GoI, Ministry of MSME, as per the provisions of the MSMED Act, 2006. (ii) As per para 2 of the said Gazette notification all enterprises are required to register online and obtain ‘Udyam Registration Certificate’. All lenders may, therefore, obta...

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Ad-hoc/Short Review/Renewal of Credit Facilities- RBI instruction

RBI/2020-21/27 DoS.CO.PPG.BC.1/11.01.005/2020-21 (21/08/2020)

Banks are, therefore, expected to have a detailed Board approved policy on methodology and periodicity for review/renewal of credit facilities within the overall regulatory guidelines, and adhere to the same strictly....

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Draft framework for recognition of a Self-Regulatory Organisation for Payment System Operators

Press Release: 2020-2021/207-RBI (18/08/2020)

Reserve Bank hereby places a draft framework for grant of recognition to an industry association as a Self-Regulatory Organisation (SRO) for Payment System Operators (PSOs)....

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RBI releases framework for authorisation of pan-India Umbrella Entity for Retail Payments

Press Release: 2020-2021/206 (18/08/2020)

Reserve Bank has today placed on its website, the ‘framework for authorisation of pan-India Umbrella Entity for Retail Payments’. The framework has been released after due deliberations on the comments / feedback received on the ‘draft framework for authorisation of a pan-India New Umbrella Entity for Retail Payment Systems’ whic...

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RBI revises guidelines applicable for Core Investment Companies

RBI/2020-21/24 DoR (NBFC) (PD) CC. No.117/03.10.001/2020-21 (13/08/2020)

Based on the recommendations of the WG and inputs received from stakeholders, it has been decided to revise the guidelines applicable for Core Investment Companies....

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RBI decides to implement system-based asset classification in UCBs

RBI/2020-21/23 DoR (PCB). BPD. Cir. No.1/13.05.001/2020-21 (12/08/2020)

In order to improve the efficiency, transparency and integrity of the asset classification process, it has been decided to implement system-based asset classification in urban co-operative banks (UCBs)....

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