On Thursday (11.12.2020) RBI announced that in addition to the five sectors, twenty-six stressed sectors brought under On Tap TLTRO Scheme. On October 21, 2020, Th Reserve Bank of India had announced the five stressed sectors under the ambit of On Tap TLTRO scheme in synergy with the credit guarantee under the Emergency Credit Line…
In the Statement on Development and Regulatory Policies dated December 4, 2020, RBI announced greater flexibility to AD banks in the areas like Direct Dispatch of Shipping Documents, /“Write-off” of unrealized export bills, /Set-off of Export receivables against Import payables/ as well as ‘Refund of Export Proceeds of goods from India’. In terms of RBI…
Bank holidays in India are declared as public holidays under explanation to section 25 of the Negotiable Instrument Act 1881. The holiday declared under NI Act is applicable exclusively to the banks located within the administration area of specific State and Union Territory. In other States and Union territories where it is not a holiday,…