What is restructuring of loan?

A restructured or rescheduled account is practically a new loan replacing the older account. The purpose of restructuring of a loan is to accommodate the borrower who is in financial difficulty and unable to repay the loan as per repayment schedule. Restructuring of loans involve modification of terms and conditions of the loan usually with…

What is Taylor rule?

The Taylor rule was first proposed by economist John B. Taylor in 1993 to provide guidance to the U.S. Federal Reserve* and other central banks for setting short-term interest rates based on economic conditions. John Taylor proposes how Central Banks should alter interest rates in response to changes in economic conditions mainly inflation and economic…

Opening of Foreign Currency Accounts by Re-insurance and Composite Insurance brokers

In terms of notification No. FEMA 10(R)(2)/2019-RB dated February 27, 2019, the Reserve Bankof India  on April 2019 advised all ategory – I Authorised Dealers and Authorised Banks that they may open interest free foreign currency accounts for reinsurance brokers. A According to the notification, re-insurance and composite insurance brokers registered with IRDA may open…