RBI revives instructions on SLR maintenance for balance held under SDF and SLR holding in HTM category

In partial modification to notification DBR.Ret.BC No.11/12.02.001/2018-19 dated December 05, 2018, the Reserve Bank of India notified on Friday (08/04/2022) that the balances held by banks with the RBI under the SDF shall be an eligible Statutory Liquidity Ratio (SLR) asset and such balances shall form part of “Cash” for SLR maintenance. Banks shall report…

Banks will conduct special clearing ops on Mar 31 for closure of govt accounts

Banks will conduct special clearing operations for the annual closure of government accounts on March 31, to facilitate accounting of all government transactions for the current financial year (2021-22). The Reserve Bank said that the above direction of the Central bank is mandatory for all banks to participate in the proposed special clearing operations for…

NBFC-ICCs can do NBFC Factor business and TReDS have to assign receivables: RBI

In terms of the recently amended Factoring Regulation Act, 2011which widens the scope of companies that can undertake factoring business, permits Trade Receivables Discounting System (TReDS) to file the particulars of assignment of receivables transactions with the Central Registry on behalf of the Factors for operational efficiency. The Act empowers the Reserve Bank of India…