Category: RBI
Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months period to borrowers in specified loan accounts The Government of India has announced the Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months …
Revised risk weights for new housing loans sanctioned from 16.10.2020 to 31.03.2022. RBI rationalises Risk Weights for Individual Housing Loans As per the RBI regulations on capital charge for credit risk of individual housing loans by banks, differential risk weights were applicable based on the size of the …
Sovereign Gold Bond Scheme 2020-21. Terms & Procedure for making application Sovereign Gold Bond Scheme 2020-21 What is Sovereign Gold Bond Schemes ? The Sovereign Gold Bond Schemes (SGBs) are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay …
Government constitutes Monetary Policy Committee of the Reserve Bank of India MINISTRY OF FINANCE(Department of Economic Affairs) NOTIFICATION New Delhi, the 5th October, 2020 S.O. 3467(E).—In exercise of the powers conferred by section 45ZB of the Reserve Bank of India Act, 1934(2 of 1934), the Central Government hereby …
RBI allows Kotak Mahindra Bank Managing Director and CEO Uday Kotak to remain on Board of ILFSL as NED up to 02.10.2021 MINISTRY OF FINANCE(Department of Financial Services) NOTIFICATION New Delhi, the 23rd September 2020 S.O. 3238(E).—Whereas, sub-clause (i) of clause (c) of sub-section …
Banks to automate Income Recognition, Asset Classification & Provisioning processes Reserve Bank of India (RBI), in order to ensure the completeness and integrity of the automated Asset Classification (classification of advances/ investments as NPA/NPI and their upgradation), Provisioning calculation and Income Recognition processes, has advised banks to put …
RBI Guidelines for Compliance functions in banks and Role of Chief Compliance Officer (CCO) RBI in April 2017 had issued Guidelines for Compliance function in banks. The Guideline provided that each bank, will formulate a Compliance Function for their bank and it shall be the responsibility of bank’s …
RBI revises Long Form Audit Report (LFAR) – New formats applicable for audit period covering FY 2020-21 & onwards Keeping in view the large scale changes in the size, complexities, business model and risks in the banking operations, RBI had made a review of the LFAR formats, in …
RBI Releases Revised Priority Sector Lending Guidelines Reserve Bank of India has comprehensively reviewed the Priority Sector Lending (PSL) Guidelines to align it with emerging national priorities and bring sharper focus on inclusive development, after having wide ranging discussions with all stakeholders. Reserve Bank of India (Priority Sector Lending – …
RBI extends time for Submission of annual returns by UCBs to 30.09.2020 As per section 31 of the Banking Regulation Act, 1949 read with Section 56 , accounts and balance-sheet together with the auditor’s report are required to be published and furnished as returns to the Reserve Bank …
