Primary role of NeSL

National E-Governance Services Limited (“NeSL”) is a Union government company and is governed by the provisions of the Insolvency and Bankruptcy Code, 2016 (“IBC”) and Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017. It is appointed by the Insolvency and Bankruptcy Board of India (“IBBI”) as an Information Utility (“IU”). As a regulated…

Modified Interest Subvention Scheme for Kisan Credit Card (KCC) for the years 2022-23, 2023-24

India’s Central Bank has approved the continuation of the Interest Subvention Scheme (ISS) Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial years 2022-23 and 2023-24. However, the scheme is modified with certain stipulations for the above period. According to RBI notification on Wednesday, all Public Sector…

RBI Governor cautions banks to remain watchful of the evolving macroeconomic situation and minimise risks

The Reserve Bank of India, Mr.Shaktikanta Das held meetings on Wednesday (November 16, 2022) with the MD & CEOs of Public Sector Banks and certain Private Sector Banks. RBI Deputy Governor M. K. Jain and some senior officials of the central bank also attended the meeting. In the meeting, the Governor asked the Chiefs of…

RBI report on Municipal Finances proposes ‘Alternative Sources of Financing’

On Thursday, the Reserve Bank of India (RBI) released the Report on Municipal Finances, which is the first-ever comprehensive analysis of Municipal finances. The rapid growth of urbanisation in India has not been accompanied by a corresponding increase in urban infrastructure, which is reflected in the performance of the urban local bodies, especially MCs, the…

RBI fixes premature redemption date and price for SGB 2017-18 Series I – Issue date May 12, 2017

The Reserve Bank of India (RBI) announced today the premature redemption date and price for SGB 2017–18 Series I. According to the RBI notification, the second due date of premature redemption under the above tranch of the Sovereign Gold Bond (SGB) Scheme shall be November 11, 2022 (November 12, 2022, being a second Saturday). The…