RBI Notifications - Page 5

Restructuring of MSME Advances without downgrade in asset classification

RBI/2020-21/17 DOR.No.BP.BC/4/21.04.048/2020-21 (06/08/2020)

Existing loans to MSMEs classified as 'standard' may be restructured without a downgrade in the asset classification, subject to the following conditions: i. The aggregate exposure, including non-fund based facilities, of banks and NBFCs to the borrower does not exceed ₹25 crore as on March 1, 2020....

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Resolution Framework for COVID-19-related Stress

RBI/2020-21/16 DOR.No.BP.BC/3/21.04.048/2020-21 (06/08/2020)

The economic fallout on account of the Covid-19 pandemic has led to significant financial stress for borrowers across the board. The resultant stress can potentially impact the long-term viability of many firms, otherwise having a good track record under the existing promoters, due to their debt burden becoming disproportionate relative t...

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Pilot scheme for Offline Retail Payments using Cards/ Wallets/Mobile Devices

RBI/2020-21/22 DPSS.CO.PD.No.115/02.14.003/2020-21 (06/08/2020)

Under the pilot scheme, payment system operators (PSO) – banks and non-banks – may offer digital payments offline, i.e., payments that do not require internet connectivity to take effect. The payment solutions provided to users shall be subject to the following terms and conditions :-...

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RBI: Online Dispute Resolution (ODR) System for Digital Payments

RBI/2020-21/21 DPSS.CO.PD No.116/02.12.004/2020-21 (06/08/2020)

The Payment System Vision-2021 of Reserve Bank highlights the need for technology-driven, rule-based, customer-friendly and transparent dispute redressal systems. As a step in this direction, authorised Payment System Operators (PSOs) – banks and non-banks – and their participants are hereby advised to put in place system/s for ODR fo...

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RBI Responsible for Monitoring Compliance of Loan Moratorium Circular: HC

Velankani Information Systems Limited Vs Secretary, Ministry of Home Affairs (Karnataka High Court)

The contentions of the RBI that the dispute is between the Petitioner and Respondents is not acceptable since the dispute arises out of the implementation or not of a Circular issued by the RBI. RBI is therefore directed to monitor the implementation of the Circular, including verification of whether there are Board-approved policies form...

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RBI releases Financial Stability Report, July 2020- Highlights

Press Release: 2020-2021/96 (24/07/2020)

Reserve Bank released the 21st Issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, and the resilience of the financial system in the context of contemporaneous issues relating to development a...

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RBI on Treatment of Unrealised gain/loss on a derivative transaction

RBI/2020-21/15 DOR (NBFC).CC.PD.No.116/22.10.106/2020-21 (24/07/2020)

On a review, it has been decided that the unrealised gain/loss on a derivative transaction undertaken for hedging may be offset against the unrealised loss/gain recognized in the capital (either through Profit or Loss or through Other Comprehensive Income) on the corresponding underlying hedged instrument....

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RBI Fair Practices Code for Asset Reconstruction Companies

RBI/2020-21/13 DOR.NBFC(ARC) CC. No. 9/26.03.001/2020-21 (16/07/2020)

Asset Reconstruction Companies (ARCs) are advised to put in place Fair Practices Code (FPC) duly approved by their Board. In the matter of recovery of loans, ARCs shall not resort to harassment of the debtor. ARCs shall ensure that the staff are adequately trained to deal with customers in an appropriate manner....

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RBI substitute the word ‘VCF Companies’ with ‘AIF Companies’

RBI/2020-21/12 DOR (NBFC).CC.PD.No.115/03.10.001/2020-21 (10/07/2020)

RBI decided to substitute the word 'Venture Capital Fund Companies' with 'Alternative Investment Fund Companies' in exercise of the powers conferred under section 45NC of RBI Act, 1934....

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RBI extends timeline for finalization of audited accounts by NBFC

RBI/2020-21/11 DoR (NBFC) (PD) CC. No. 114/03.10.001/2020-21 (06/07/2020)

RBI decided that every applicable NBFC shall finalise its balance sheet within a period of 3 months from the date to which it pertains or any date as notified by SEBI for submission of financial results by listed entities....

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October 2020