Securitisation of stressed assets: RBI releases paper on regulatory purview

As per the current guidelines, Securitisation is allowed only in the case of standard assets while lenders have to largely rely on Asset Reconstruction Companies (ARCs) for bad assets. Based on market feedback, stakeholder consultations, and the recommendations of the Task Force on Development of Secondary Market for Corporate Loans, RBI decided to introduce a…

Bank holidays 2022 under NI act : ODISHA State

Calendar of Public Holidays in Odisha (Orissa) State under sec 25 of NI Acts 1881. Sr.No Date Day Occasion/Festival Date 1 26.01.2022 Wednesday REPUBLIC DAY 2 05.02.2022 Saturday BASANTA PANCHAMI 3 01.03.2022 Tuesday MAHA SHIVARATRI 4 19.03.2022 Saturday HOLI 5 01.04.2022 Friday Annual closing of Bank accounts /UTKAL DIVAS 6 14.04.2022 Thursday Dr. B.R.AMBEDKAR JAYANTI…

RBI relaxes bad loans provisioning rules for banks, permits 100% utilization of floating provisions

The Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday announced that banks are allowed to utilise100 per cent of floating provisions/counter-cyclical provisioning buffer for making specific provisions for non-performing assets. RBI in its circular dated May 5, 2021 stated that “In order to mitigate the adverse impact of COVID 19 related stress on…

Important measures are taken by RBI in the recent past to preserve the financial stability of the country

In the Statement of Development and Regulatory Policies released on March 27, 2020, RBI released several regulatory measures to mitigate the burden of debt servicing brought about by disruptions on account of COVID-19 pandemic and to safeguard the continuity of viable businesses. The package includes Rescheduling of Term Loans and Working Capital payments, recalculate the…