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RBI directs the banks for automation of NPA recognition system

RBI latest directions to banks for putting in place system for automation of NPA recognition latest by 30th June 2021. Highlights of the circulars :- 1. RBI referring its earlier circular DBS.CO.PPD.No.1950/101.005/2011-12 dated 4th August 2011 in which it had advised banks to have appropriate IT system in place for identification of NPA (Non performing Asset) but it has been observed that bank has still not developed such instructed system. 2...

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RBI Guidelines- Opening of Current Accounts of Borrowers by Banks

Fund diversion has always been a major problem in our banking system. It has been observed in all major cases of wilful default or fraud that the funds borrowed from banks have been diverted elsewhere and the banks had no control over utilization of funds. This situation is caused due to the fact that there is no discipline in our banking system on the opening and running of current and CC/OD accounts. Borrowers have simultaneous current and CC/OD accounts with many banks.  To ..

Posted in articles |   6 comments |   6918 Views

RBI Payment and Settlement Systems

The Reserve Bank of India (RBI) has released Statement on Developmental and Regulatory Policies dated 06th August, 2020 on account of various developmental and regulatory policy measures to enhance liquidity support for financial markets and other stakeholders; further easing of financial stress caused by COVID-19 disruptions. Payment and Settlement Systems 1. Scheme of Offline Retail Payments Using Cards and Mobile Devices To resolve issues of Lack of intern..

Posted in articles |   209 Views

Onetime restructuring announced by RBI on 6th August 2020

  The Reserve Bank of India released a bi-monthly monetary policy yesterday because of the ongoing pandemic COVID-19. Here are the key points that were announced by the RBI Governor : Central Bank will form an expert committee headed by former ICICI Bank CEO KV Kamath to suggest ways in which the restructuring will be implemented Personal loans have also been included March 1 has been set..

Posted in articles |   1459 Views

Addressing delayed payments for MSMEs through TReDS

A large number of MSMEs are ancillary units catering to the needs of large industries, both in the public and private sector. They often face the problem of delayed payments, affecting their cash flow and working capital availability. Most of the time, delay in realisation of such receivables increases their operating cycle and reduces their ability to procure new orders or fulfil the existing ones. Although Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 contains provisions..

Posted in articles |   857 Views

Whether RBI should extend moratorium?

INTRODUCTION The Reserve Bank of India (RBI) keeping in the mind the intensification of COVID-19 disruptions has imparted priority to relaxing repayment pressures and improving access to working capital by mitigating the burden of debt servicing, prevent the transmission of financial stress to the real economy, and ensure the continuity of viable businesses and households announced an extension of the moratorium on term loa..

Posted in articles |   677 Views

RBI releases Financial Stability Report for July 2020

Today, the 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 and regulation of the financia..

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RBI special liquidity scheme for NBFCS and HFCS

Smt. Nirmala Sitharaman, Union Minister for Finance & Corporate Affairs had announced and launched a Special Liquidity Scheme of Rs. 30,000 crore on 13th March, 2020 with a view to improving the liquidity position of NBFCs as well as HFCs. Key Highlights: • RBI will provide funds for the Scheme by subscribing to government guaranteed special securities issued by the Trust. • The total amount of such securities issued outstanding shall not exceed R..

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Company secretary for banks - RBI discussion paper released

RBI has released a discussion paper today i.e. 12th June 2020, on &lsquo;Governance in Commercial Banks in India&rsquo; for public comments. &bull; Objective: To align the current regulatory framework with global best practices while being mindful of the context of domestic financial system. &bull; Last date to forward suggestions: <..

Posted in articles |   1429 Views

RBI extends timeline for compliance with various payment system requirements

RBI/2019-20/251 DPSS.CO.PD.No.1897/02.14.003/2019-20 June 04, 2020 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks, including Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Payments Banks / Small Finance Banks / Local Area Banks / Non-Bank PPI issuers / Authorised Payment System Participants / Operators..

Posted in news |   1104 Views

Key takeaways from RBI Relief Package

RBI has taken to further measures to ease the financial stress caused by COVID-19 disruptions by providing relief on debt servicing and improving access to working capital; and steps to ease financial constraints faced by state governments...

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11 Key Highlights of RBIs Press Conference dt. 22nd May 2020

The moratorium on term loans has been further extended by three months by the RBI Governor in the wake of COVID-19...

Posted in articles |   1132 Views

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