Category: RBI
RBI issues revised Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including Housing Finance Companies) for Financial Year 2021-22 and onwards. RBI has issued a Circular on ‘Guidelines for Appointment of Statutory Central Auditors (SCAs)/ Statutory Auditors (SAs) …
RBI takes supervisory action on Card Networks – American Express Banking Corp. and Diners Club International Ltd The Reserve Bank of India (RBI) has imposed restrictions on American Express Banking Corp. and Diners Club International Ltd. from on-boarding new domestic customers onto their card networks from May 1, …
RBI allows declaration and payment of dividends by banks for financial year ended March 31 2021. Declaration / Payment of dividends by banks allowed by RBI Earlier, In December 2020 RBI had forbidden banks to make dividend payment for financial year ended March 31 2020. However, RBI has …
RBI releases names of applicants under Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks The Reserve Bank of India today released the names of applicants under the Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks. As on date, applications for …
Asset Classification and Income Recognition following the expiry of Covid-19 regulatory package – RBI Circular In view of the The Hon’ble Supreme Court judgement RBI has revised norms for Asset Classification and Income Recognition following the expiry of Covid-19 regulatory package as under: Refund/adjustment of ‘interest on interest’ …
Issue of security by raising of receipts/funds by Asset Reconstruction Company – RBI notifies AIFs as qualified buyers RESERVE BANK OF INDIA NOTIFICATION Mumbai, the 10th March, 2021 NOTIFICATION UNDER CLAUSE (U) OF SUB-SECTION (1) OF SECTION 2 OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT …
Reserve Bank of India extends timeline for processing of recurring online transactions Date: 31.03.2021 RESERVE BANK OF INDIA PRESS RELEASE In August 2019, the Reserve Bank of India (RBI) had issued a framework for processing of e-mandates on recurring online transactions. Initially applicable to cards and wallets, the …
RBI notifies Qualified Financial Contract and entities qualified as financial market participants to deal in qualified Financial Contracts RESERVE BANK OF INDIA(Financial Markets Regulation Department)(CENTRAL OFFICE) NOTIFICATION Mumbai, the 9th March, 2021 No. FMRD.DIRD. 2/14.03.043/2020-21.—In exercise of the powers conferred by clause (a) of Section …
Reporting and Accounting of Central Government transactions including CBDT, CBIC etc. of March 2021 for passing on challans/scrolls etc. RBI has issued circulars from time to time advising the procedure to be followed for reporting and accounting of Central Government transactions (including CBDT, CBIC, Departmentalized Ministries and Non-Civil …
RBI modifies Data Format for Furnishing of Credit Information to Credit Information Companies RBI in 2014 prescribed Data Format for Furnishing of Credit Information to Credit Information Companies. (CICs) With a view to streamlining the process of data submission by banks/FIs to CICs, it standardised the formats for …
