The Reserve Bank of India (RBI), announced the extension of the existing limit in Ways and Means Advances (WMA) limits and OD regulations for a further period of 6 months till March 31, 2021. The extension is available for all States/UTs to enable them to tide over the situation arising from the outbreak of the…
September 28, 2020 (Mumbai): The meeting of the Monetary Policy Committee (MPC) during September 29, 30 and October 1, 2020 as announced by RBI vide Press Release 2019-2020/2248 dated April 20, 2020 is being rescheduled. The Central Bank communication said that the dates of the MPC’s meeting will be announced shortly. Marginal Standing Facility (MSF)…
Reserve Bank of India today asked all the banks that they should ensure that the asset classification status is updated as part of day end process. Banks should also be able to generate classification status report at any given point of time with actual date of classification of assets as NPAs/NPIs. In any exceptional circumstance…
Today, RBI in its notification said that an independent compliance function is required to be headed by a designated Chief Compliance Officer (CCO) of banks, selected through a suitable process with an appropriate ‘fit and proper’ evaluation/selection criteria to manage compliance risk effectively.The Central Bank also directed all the banks to lay down a board-approved…
Based on the report of the Expert Committee (K.V.Kamath Committee) on Resolution Framework for Covid-19 related Stress the Reserve Bank of India (RBI) on Monday announced the financial parameters for the resolution plans under the scheme. The Committee has recommended financial parameters that, inter alia, include aspects related to leverage, liquidity, and debt serviceability. The…
RBI on Saturday announced the revised long format audit report (LFAR) norms with the scope of the mandate of an audit covering areas of ‘Credit risk’, ‘market risk’, assurance functions and operational risk areas’, ‘capital adequacy’ and ‘going concern and liquidity risk assessment’, among others. This may also involve commenting on various risks to which…
The Statutory Liquidity Ratio (SLR) is the liquid reserve to be maintained by the commercial banks at the rate fixed by RBI. At present, banks are permitted to exceed the limit of 25 per cent of the total investments under Held to Maturity (HTM) category, provided the excess comprises only of SLR securities and total…
Reserve bank of India on Monday (August 31) announced conducting of additional special open market operation involving the simultaneous purchase and sale of Government securities for an aggregate amount of Rs.20,000 crore in two tranches of Rs.10,000 crore each. The auctions would be conducted on September 10, 2020 and September 17, 2020. “The RBI remains…
In the second bi-monthly monetary policy statement announced on Thursday (dated 06.08.2020), MPC decided to keep policy REPO rate under the liquidity adjustment facility (LAF) unchanged at 4.25 per cent. The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within…
In the second bi-monthly monetary policy statement announced on Thursday (dated 06.08.2020), The RBI Governor said that while he is outlining the following main measures, the Statement on Developmental and Regulatory Measures which addresses them in greater detail. 1. Additional Special Liquidity Facility (ASLF) Governor announced additional special liquidity facility of ₹10,000 crore will be…