RBI releases Consultative Document on Regulation of Microfinance

The Reserve Bank of India (RBI) has proposed a slew of measures to protect micro-finance borrowers from over-indebtedness and enable competitive forces to bring down the interest rates. In a consultative document released on Monday, RBI has proposed to remove the ceiling on interest rates for micro-finance lenders, among other key measures. In the Statement…

RBI Governor Statement: The situation has reversed from being on foothills of strong economic recovery to facing a fresh crisis

Reserve Bank of India (RBI) Governor Shaktikanta Das today made an unscheduled speech as the second wave of coronavirus continues to devastate the country. “As the financial year 2020-21 – the year of the pandemic – was drawing to a close, the Indian economy was advantageously poised, relative to peers. India was at the foothills…

RBI caps tenure of bank MD/ CEO and issues direction on composition of the board

The Reserve Bank of India on Monday issued certain instructions on the governance for banks, including private banks, Small Finance Banks (SFBs), Wholly Owned Subsidiaries of Foreign Banks (not applicable to foreign banks operating as branches in India). In respect of the State Bank of India and Nationalised Banks, these guidelines would apply to the…

Checklist of guidance for Security Arrangement in banks

In view of prevailing law and order situation and other subversive activities carried out by antisocial/extremist organizations in the country mainly targeting the banks, the Reserve Bank of India and Indian Bank Association had prepared check lists of guidelines for stringent security arrangements for implementation in banks. The “Report of the Working Group to review…