RBI- Integrated Ombudsman Scheme, 2021
Updated on 08.08.2022 originally posted on 12.11.2021 RBI vide notification dated August 5, 2022, made a partial modification to the notification to CEPD.PRD.No.S873/13.01.001/2021-22 dated November 12, 2021. According to the above modification modification ‘Credit Information Company’ as defined in the Credit Information Companies (Regulation) Act, 2005, shall also be treated as a ‘Regulated Entity’ for…
Read article
RBI extends timelines to companies for compliance of debt recast
The corporate borrowers, whose loans were restructured under the first recast resolution plans under the RBI’s circular of 6 August 2020, can take another six months to achieve financial parameters laid down by the Reserve Bank of India. RBI on Friday notified to defer the target date for companies by six months to October 1,…
Read article RBI announces Statement on Developmental and Regulatory Policies
The Developmental and Regulatory Policies announced today by RBI sets out various developmental measures including liquidity and regulatory measures. The highlights of the statements are as under. Liquidity Measures: Extension of Deadline for On Tap TLTRO Scheme: RBI has announced the extension of the On Tap TLTRO scheme further by a period of three months,…
Read article
RBI monetary policy announced: Repo rate unchanged
The MPC of RBI today (August 6, 2021) voted unanimously to keep the policy repo rate unchanged at 4 percent. The MPC also decided on a 5 to 1 majority to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact…
Read article
RBI extends the deadline for shifting the current account till October
New rules regarding Changes in opening and operating current Account and CC/OD facilities do not apply to borrowers who have availed agricultural/ personal Overdraft (OD) or OD against deposits” RBI said. The Reserve Bank on Wednesday allowed time to banks till October 31 to implement changes on the current account front, following reports of small…
RBI cautions the public against fraudulent buy or sale of old banknotes and coins
On Wednesday (August 4, 2021) Reserve Bank cautioned the members of the public to remain alert and not to fall prey to elements using the name of Reserve Bank of India to extract money through such fictitious/ fraudulent offers. “It has come to the notice of Reserve Bank of India that certain elements are fraudulently…
Read article