RBI releases 2020 list of Domestic Systemically Important Banks (D-SIBs)

The Reserve Bank of India on Tuesday released list of Domestic Systemcically Important Banks (D-SIBS) in India. State-owned SBI, along with private sector lenders ICICI Bank and HDFC Bank  are declared as Domestic Systemically Important Banks (D-SIBs) or institutions which are ‘too big to fail’ as on March 31, 2020. The Reserve Bank had announced…

RBI sets-up working group to evaluate digital lending

The Reserve Bank of India (RBI) on Wednesday announced the formation of a working group (WG) on digital lending, including through online platforms and mobile apps.  The recent surge and attractiveness of online lending platforms/ mobile lending apps (‘digital lending’) have raised certain serious concerns to Central Bank which have wider systemic implications. The newly…

FSDC reviews major impact on global/ domestic economy and financial markets

A meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC) was held today (January 13, 2021) in Mumbai through video conference. RBI Governor Shri Shaktikanta Das, chaired the meeting. In the meeting, topics of the major impact on global and domestic economy as well as financial financial stability were discussed. The following…

RBI announces guidelines for digital payment infra fund-PIDF

The Reserve Bank of India has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country The DPI comprises of 5 broad parameters that enable measurement of deepening and penetration of digital payments over different time periods. These parameters are – (i) Payment Enablers (weight 25%), (ii)…

Record-keeping of cash deals in gems & jewelry trade as well as Real Estate now a must

The Ministry of Finance (Department of Revenue) on the 28th December 2020 notifies (G.S.R.799(E) dealers in precious metals, precious stones, in the exercise of the powers conferred by sub-clause (iv) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-laundering Act, 2002 (15 of 2003), as “persons carrying on designated businesses…

RBI includes all 26 stressed sectors within the ambit of the ‘On Tap TLTRO scheme’

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…