Lenders should disclose the aggregate amount to be refunded/adjusted as of March 31, 2021: RBI

Reserve Bank of India on Wednesday asked lending institutions to disclose the aggregate amount to be refunded/adjusted in respect of their borrowers based on the Asset Classification and Income Recognition following the expiry of the Covid-19 regulatory package in their financial statements for the year ending March 31, 2021. The above announcement of the central…

Bank Finance under Self Employment Program (SEP) component of DAY-NULM

The Government of India, Ministry of Housing and Urban Affairs (MoHUA), had restructured the erstwhile Swarna Jayanti Shahari Rozgar Yojana (SJSRY) and launched the National Urban Livelihoods Mission (NULM) in 2013. NULM has been implemented in all district headquarters (irrespective of population) and all the cities with population of 1 lakh or more. The Self…

What is the Prime Minister’s New 15-Point Programme for the Welfare of Minorities?

The “Prime Minister’s New 15-Point Programme for the Welfare of Minorities” is the revised guidelines of the earlier programme on Credit facilities to the minority community. The objective of the new programme is to ensure that the benefits of various government schemes for the underprivileged reach the disadvantaged sections of the minority communities which are…

New Capital Adequacy Framework (NCAF) on capital regulation – eligibility of CRISIL Ratings Limited

Today (January 27, 2021), RBI told the banks to use the ratings of the CRISIL Ratings Limited for the purpose of risk weighting their claims for New Capital Adequacy Framework (NCAF) on Basel III capital regulation purposes. The above decision taken by RBI is owing to rating business of CRISIL Limited has since been transferred…

Salient features of Co-lending Model (CLM) scheme announced by RBI for priority sector lending

The Reserve Bank on Thursday came out with a Co-Lending Model (CLM) scheme under which banks can provide loans along with NBFCs (including HFCs) to priority sector borrowers based on a prior agreement. The arrangement entailed joint contribution of credit at the facility level by both the lenders as also sharing of risks and rewards.…