Quick Summary
This Statement sets out various developmental and regulatory policy measures on (i) liquidity management and support to targeted sectors; (ii) regulation and supervision; (iii) debt management; (iv) payment and settlement systems; (v) financial Inclusion; and (vi) external commercial borrowings.
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The TLTRO on Tap Scheme, designed to provide liquidity to specific sectors with growth multiplier effects, was announced in October 2020. It has now been extended by six months, until September 30, 2021.
The limit for the maximum end-of-day balance per individual customer at Payments Banks has been increased from ₹1 lakh to ₹2 lakh. This aims to encourage financial inclusion and better serve customers, including MSMEs and small traders.
Yes, the permission for banks to classify lending to registered NBFCs (excluding MFIs) as Priority Sector Lending for on-lending to Agriculture/MSME/Housing has been extended for another six months, until September 30, 2021.
The RBI will now construct and periodically publish a 'Financial Inclusion Index' (FI Index). This index will be based on multiple parameters to reflect the broadening and deepening of financial inclusion in India and will initially be published annually in July.
Interoperability for full-KYC PPIs and all acceptance infrastructure will become mandatory. Additionally, the limit for outstanding balances in full-KYC PPIs will be increased from ₹1 lakh to ₹2 lakh to encourage migration to full-KYC.
Yes, as a one-time measure, unutilised ECB proceeds drawn down on or before March 1, 2020, can now be parked in term deposits with AD Category-I banks in India prospectively up to March 1, 2022, offering relief to borrowers facing utilisation difficulties.
CAclubindia
