LTC cash voucher scheme announced: All you need to know about how the scheme beneficial to you
The Finance Minister of India Mrs.Nirmala Sitharaman, in a press conference today, announced a scheme offering tax-exempt payment of leave travel concession/allowance to encourage government and private sector employees to spend more and generate demand. FM also announced that the Govt to give Rs 10,000 special festivals advance to all its employees as a one-time…
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New Co-lending model and rationalisation of Risk Weights for Housing loans
The Statement on Developmental and Regulatory Policies of RBI on its 4th quarterly review has taken two key decisions. One, the the rationalization of risk weights for banks and secondly, the co-origination of loans for NBFCs and HFCs has been allowed. Rationalisation of risk weight: In terms of the extant regulations on capital charge for…
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RBI discontinues Automatic Caution Listing of Exporters
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has decided to discontinue the system-based automatic caution-listing of exporters in view of the impact of the COVID-19 pandemic. While reading the Statement on Developmental and Regulatory Policies dated 09.10.2020, RBI Governor Shaktikant Das said that “Exports have been adversely impacted by the…
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Enhancement of SLR Holdings in Held to Maturity (HTM) category
In the Statement on Developmental and Regulatory Policies dated 09.10.2020, RBI said that the limits under Held to Maturity (HTM) category is increased to 22 percent of NDTL, in respect of SLR securities acquired on or after September 1, 2020, up to March 31, 2021. RBI on September 1, 2020, increased the limits under Held…
Read article Repo rate and other key policy rates remain unchanged: RBI
The Reserve Bank of India (RBI), in its fourth bi-monthly monetary meet held on October 9, 2020, has decided to keep the repo rate unchanged and continues with its accommodative stance. This is the second time in a row the apex bank has kept the key rates unchanged. The existing key policy rates are as…
SEBI tightens the norms relating to inter-scheme transfers of Mutual Funds
In continuation of the ongoing exercise of streamlining and structural reforms of debt funds, on Thursday (October 8, 2020) SEBI has issued a circular that seeks to tighten the norms relating to inter-scheme transfers. Inter scheme transfers (ISTs) involve shifting of debt papers from one mutual fund scheme to another scheme. As per existing rules…
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