National Automated Clearing House to be available on all days from August 1: RBI
“In the interest of customer convenience, and to take advantage of the availability of RTGS on all days of the year, it is proposed to make available NACH on all days of the week throughout the year, effective August 1, 2021,” RBI Governor Shaktikanta Das said while announcing the bi-monthly monetary policy review on June…
Read article
RBI creates a special liquidity facility for SIDBI, NABARD, and NHB
RBI has decided to extend a special liquidity facility of Rs16,000 crore to SIDBI for on-lending/ refinancing through novel models and structures, including double intermediation, pooled bond / loan issuances, etc. The facility will be available at the prevailing policy repo rate for a period of up to one year. The special liquidity facility is…
Read article
RBI provides more credit for intensive sectors like restaurants, hotels, tourism travels, and others
The Reserve Bank of India (RBI) has decided to open an “On-tap Liquidity Window for Contact-intensive Sectors” aggregating Rs15000 crores till March 31, 2022. These sectors include hotels and restaurants, tourism, rent-a-car service providers. In the Statement on Developmental and Regulatory Policies announced by RBI on 04.06.2021, RBI Governor Shaktikanta Das announced that “In order…
Read article
Reserve Bank of India has decided to maintain the status quo on key policy rates
In today’s (4.06.2021) second bimonthly MPC meeting, the Reserve Bank of India decided to maintain the policy repo rate under the liquidity adjustment facility (LAF) on hold at 4.0 per cent. The Monetary Policy Committee of the Reserve Bank of India has decided to maintain status quo on key policy rates. Based on its assessment,…
Read article
RBI clears air on crypto-currency trading to ask banks to carry out customer due diligence
The Reserve Bank of India (RBI) on Monday clarified that its circular dated April 6, 2018 on Crypto currency transactions is no longer valid from the date of the Supreme Court judgement, in March 2020 and therefore cannot be cited or quoted from. RBI in its notification said, “It has come to our attention through…
Pension equivalent to 90% of wage extended to dependents of COVID-19 victims under ESIC scheme: Govt
The Ministry of Labour and Employment on Sunday announced additional benefits for workers through social securities schemes run by the EPFO and the ESIC amid the COVID-19 pandemic. “The Ministry of Labour and Employment has announced additional benefits for workers through ESIC and EPFO schemes to address the fear and anxiety of workers about well…
Read article