Keeping in view of ongoing hardships faced by banks in terms of social distancing of staff and consequent strains on reporting requirements, RBI has decided to extend the relaxation of the minimum daily maintenance of the Cash Reserve Ratio of 80 per cent for a further period of three months, i.e., up to September 25,…
Emergency Credit Line Guarantee Scheme (ECLGS) which is also known as Guaranteed Emergency Credit Line (GECL) scheme is a 100% collateral free fund-based working capital term loan extended by the banks, NBFCs and Financial Institutions (FIs) to Business entities /MSMEs including borrowers of MUDRA loans constituted as Proprietorship, Partnership, a registered company, trusts, and Limited…
While issuing guidelines, on digital lending platforms on Wednesday (June 24, 2020) the Reserve Bank of India directed banks, NBFCs and digital lending platforms to disclose full information upfront on their websites to customers. The direction comes against the backdrop of several complaints relating to exorbitant interest rates and harsh recovery measures, among others, against…
Reserve Bank in its press release today (June 22, 2020) said that the bank has set up many digital awareness campaigns for the users of digital transactions. The initiation in this regard has been continuously and actively undertaken in the print and Audio-Visual media, including through Central Bank’s flagship programme RBI Kehta Hai, it said.…
(Many people have a confusion over why do officials ask for the left thumb impression(LTI) in the case of males and the right thumb (RTI) impression in the case of female while offering consent upon the matter written upon the paper. This article clarifies on law and practice on this topic.) The purpose behind getting…
The treasury management (or treasury operations) can be explained as the management of the best possible use of surplus funds, maintain liquidity, reduce the overall cost of funds, and mitigate operational and financial risk. Traditionally, banks used to have two separate departments for treasury operations of a bank namely the domestic treasury/investment operations of a…
Reserve Bank of India today placed a draft of the changes proposed to be prescribed for HFCs. These are as follows: Classifying HFCs as systemically important (asset size of ₹500 crore & above) and non-systemically important (asset size less than ₹500 crore); Reserve Bank’s directions on Liquidity Risk framework &, LCR, securitisation, etc., for NBFCs,…
Updated till December 1, 2023. The Securities and Exchange Board of India (SEBI) was established as the regulator for the Stock and Security market in India under the Securities and Exchange Board of India Act 1992. The main object of SEBI is to protect the interests of investors in securities and promote the development of…
Limited companies are of two kinds. They can be classified as (i) Private Limited companies (ii) Public Limited companies. A private limited company is a form of privately held business governed under the provisions of the Indian Companies Act, 2013. The minimum number of members required to form q private limited company is two and…
Reserve bank of India proposes revision in definition of securitisation and lowered the stake the originating bank or non-banking finance company has to keep in the securitised asset. The Banking Regulator has placed on its website two draft documents for public comments – the ‘Draft Framework for Securitisation of Standard Assets’ and ‘the Draft Comprehensive…