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…

RBI tells UCBs to report Large Exposures to Central Repository of Information on Large Credits (CRILC)

To bring cooperative banks closer to the reporting standards of commercial banks, the RBI on December 27, 2019, mandated Urban Co-operative Banks to report credit information, including classification of an account as a special mention account (SMA) to the central repository of information on large credits (CRILC). The CRILC database is used by banks and…

2017 Holidays list for Central Government offices & Post Offices

The public holidays for the Central Government offices are divided into two parts. The administrative offices of Central Government situated outside Delhi and New Delhi observes 14 public holidays enumerated in Chart ‘A’. Besides 14 days compulsory public holidays listed in chart A, Delhi and New Delhi offices observe additional 3 compulsory public holidays enumerated…