Reserve Bank of India RBI/2018-19/184 DNBR (PD) CC. No.099/03.10.001/2018-19 May 16, 2019 Non-Banking Financial Company– Investment and Credit Companies, Infrastructure Finance Companies, Micro Finance Institutions, Factors and Infrastructure Debt Funds Madam / Dear Sir, Risk Management System – Appointment of Chief Risk Officer (CRO) for NBFCs With the increasing role of NBFCs in direct credit […]
it has now been decided to enhance the housing loan limits for eligibility under priority sector lending. Accordingly, in respect of RRBs and SFBs, housing loans to individuals up to ₹ 35 lakh in metropolitan centres (with population of ten lakh and above) and ₹ 25 lakh in other centres, provided the overall cost of the dwelling unit in the metropolitan centres and at other centres does not exceed ₹ 45 lakh and ₹ 30 lakh, respectively will be eligible for classification under Priority Sector Lending.
Date : May 03, 2019 RBI clarifies on safe custody of its gold reserves We have come across reports in certain sections of the print and social media regarding RBI shifting abroad a part of its gold holding in 2014. It is a normal practice for Central Banks world over, to keep their gold reserves overseas […]
Reserve Bank Extends Ombudsman Scheme for Non-Banking Financial Companies to eligible Non-Deposit Taking Non-Banking Financial Companies with effect from April 26, 2019.
As a measure to broaden access of non–resident investors to debt instruments in India, Foreign Portfolio Investors (FPI) are now permitted to invest in municipal bonds.. FPI investment in municipal bonds shall be reckoned within the limits set for FPI investment in State Development Loans (SDLs).
No financial institution will declare the accounts of ‘Infrastructure Leasing & Financial Services Limited’ or its entities as ‘NPA’ without prior permission of this Appellate Tribunal”.
Currently, branches of commercial banks observe holiday only on second and fourth Saturday of a month apart from Sunday. It has been reported in certain sections of media that commercial banks would have a 5-day week on RBI instructions. This information is not factually correct. RBI has not issued any such directions. Relevant RBI Press […]
Re-insurance and composite insurance brokers registered with IRDA may open and maintain non-interest bearing foreign currency accounts with an AD bank in India for the purpose of undertaking transactions in the ordinary course of their business.
Reserve Bank of India (RBI) has learnt through media reports that Lakshmi Vilas Bank (LVB) and Indiabulls Housing Finance Limited (IBHFL) have made a merger announcement on April 5, 2019 with approval of their respective Boards.
Date : Apr 03, 2019 RBI releases Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019 under section 45 W of the RBI Act, 1934 The Reserve Bank of India today released Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions 2019. Comments on the draft directions are invited from banks, market participants and other interested parties by […]
Reserve Bank of India will take necessary steps, including issuance of a revised circular, as may be necessary, for expeditious and effective resolution of stressed assets.
Reserve Bank of India Date : Apr 04, 2019 First Bi-monthly Monetary Policy Statement, 2019-20 Resolution of the Monetary Policy Committee (MPC) Reserve Bank of India On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today decided to: reduce the policy repo rate under […]
Reserve Bank of India Date : Apr 01, 2019 RBI to inject Rupee liquidity through long term USD/INR Buy/Sell Swap auction In order to meet the durable liquidity needs of the system, the Reserve Bank has decided to inject Rupee liquidity for longer duration through long-term foreign exchange Buy/Sell swap in terms of its extant […]
Banks should disclose divergences, if either or both of the following conditions are satisfied:a. the additional provisioning for NPAs assessed by RBI exceeds 10 per cent of the reported profit before provisions and contingencies for the reference period, andb. the additional Gross NPAs identified by RBI exceed 15 per cent of the published incremental Gross NPAs for the reference period.
All branches of Vijaya Bank and Dena Bank will function as branches of Bank of Baroda from April 1, 2019. Customers, including depositors of Vijaya Bank and Dena Bank will be treated as customers of Bank of Baroda with effect from April 1, 2019.
Foreign Exchange Management (Deposit) Regulations, 2016 - Opening of NRO Accounts by Long Term Visa (LTV) holders, changes related to Special Non-Resident Rupee (SNRR) Account and Escrow Account
For opening of a Branch Office (BO) / Liaison Office (LO) / Project Office (PO) or any other place of business in India, where the principal business of the applicant falls in the Defence, Telecom, Private Security and Information and Broadcasting sector, have since been reviewed in consultation with the Government of India and the amendments have been notified by Government vide Notification No. FEMA 22(R)(2)/2019-RB dated January 21, 2019.
With a view to facilitate accounting of all the Government transactions for the current financial year (2018-19) by March 31, 2019, it has been decided to conduct Special Clearing at all clearing houses across the country on March 30 and 31, 2019 as detailed below:
RESERVE BANK OF INDIA RBI/2018-19/150 DBR.No.Leg.BC.30/09.07.005/2018-19 March 26, 2019 All Agency Banks Dear Sir/ Madam All Agency Banks to remain open for public on March 31, 2019 (Sunday) The Government of India has advised that all Pay and Account Offices will remain open on March 31, 2019 (Sunday) to facilitate government receipt and payment transactions. […]
The Government of India has desired that all government transactions done by agency banks for Financial Year 2018-19 must be accounted for within the same financial year and has requested that, as in previous years, certain special arrangements be made for this purpose.