The Securities and Exchange Board of India canceled the Certificate of Registration (CoR) granted to Brickwork Ratings India Private Limited as a Credit Rating Agency (CRA), on October 6, 2022. In view of that RBI on October 9, 2022, advised Regulated Entities/ Market Participants that in respect of ratings/credit evaluations required in terms of any…
Condonation of delay by Registrar of Companies: If a company is unable to file the registration of charge within a period of thirty days of the date of creation of the charge/modification of charge, it may prepare an application in the form CHG-10 supported by a declaration from the company signed by the company secretary…
The Reserve Bank of India today (04.01.2023), released the Annual Report of the Ombudsman Schemes for the period April 01, 2021 – March 31, 2022. Some highlights from the Annual Report are as follows: *Reserve Bank – Integrated Ombudsman Scheme (RB-IOS) was launched on November 12, 2021. Under the RB-IOS, 2021, a CRPC was…
The Reserve Bank of India on Monday released the 2022 list of Domestic Systemically Important Banks (D-SIBs). State Bank of India (SBI), HDFC Bank and ICICI Bank continue to be domestic systematically important banks (D-SIBs), under the same bucketing structure as in the 2021 list of D-SIBs. Systemically Important Banks (SIBs) are perceived as banks…
The Reserve Bank of India on Thursday (December 29) released the 26th issue of the Financial Stability Report (FSR). The financial Stability Report (FSR) is a biannual report released by the Reserve Bank of India (RBI). The report reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks…
Effective from January 01, 2023, the Banks and non-bank PPI entities shall commence reporting payment frauds in DAKSH. According to RBI circular, this reporting was earlier facilitated through Electronic Data Submission Portal (EDSP) and is being migrated to DAKSH through which scheduled commercial banks and non-bank prepaid payment instrument (PPI) issuers report payment frauds, to…
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Wednesday (December, 7) hiked the repo rate by 35 basis points (bps) to 6.25 percent with immediate effect, RBI Governor Shaktikanta Das announced. The RBI governor further announced that the MPC decided to remain focused on the withdrawal of accommodation and added that the…
RBI on Thursday revised the regulatory framework for catogorisation of Urban Co-operative Banks (UCBs) based on net worth, CRAR, and reserve ratios and also a prescription for the declaration of Urban Cooperative Banks as Financially Sound and Well Managed (FSWM) category banks. Based on the recommendations of the Expert Committee on Urban Co-operative Banks, the…
The Reserve Bank of India (RBI) and the Financial Services Agency (FSA), Japan on Wednesday exchanged letters of cooperation in the field of Central Counter Parties (CCPs) with the objective of improving mutual cooperation. The exchange of letters takes place pursuant to the European and the UK regulators having derecognised various Indian clearing houses, including…
Today, the Reserve Bank announced the launch of the first pilot for retail digital Rupee (e₹-R) on December 01, 2022. The e₹-R would be in the form of a digital token that represents legal tender. It would be issued in the same denominations that paper currency and coins are currently issued. It would be distributed…