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Daily Archives: July 20, 2022

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Four-tier differentiated regulatory prescription for Urban Cooperative Banks

Bank NewsBy Surendra NaikJuly 20, 2022

The Reserve Bank of India (RBI) on Tuesday issued final guidelines for urban cooperative banks (UCBs), accepting the NS Vishwanathan committee’s recommendation to implement a four-tiered regulatory framework, among others. The four-tiered regulatory framework is based on the size of deposits of the banks and their area of operations. The major recommendations which have been…

RBI renews the Statement of Commitment (SoC) to the FX Global Code (“Code”).

Foreign ExchangeBy Surendra NaikJuly 20, 2022

The Reserve Bank of India (RBI) on Wednesday has signed its renewed Statement of Commitment (SoC) to the FX Global Code (“Code”). The FX Global Code (Code) is a compilation of best market practices, formulated by Central Banks and market participants, developed under the auspices of Bank for International Settlements (BIS), Basel. The Code sets…

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