SC gives November 2 deadline to Centre for an action plan to implement waiver of compound interest
Directing the government to implement the decision to waive “interest on interest” without delay, yesterday the Supreme Court directed the Centre to come back “with an appropriate action plan” on November 2. The above direction came from Apex court when solicitor general Tushar Mehta, representing the Centre, said the waiver would come into effect by…
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RBI clarifies various queries on COVID 19 related resolution framework scheme
RBI today released FAQs on the resolution framework for Covid-19 related stress, clarifying to borrowers as well as lenders that a loan account that was due for more than 30 days as of March 1, 2020, but subsequently got regularised, will not be ineligible for resolution under the COVID-19 resolution framework. The above clarification was…
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Basel III Regulatory capital for Retail Portfolio: Revised Limit for Risk Weight
In the Statement on Developmental and Regulatory Policies dated October 9, 2020, broadcasted by RBI on the limit for regulatory retail portfolio, it was decided to revise the risk weight for individual exposures to reduce the cost of credit to this segment. updated on November 17, 2023: RBI on Thursday (November 17, 2023)increases risk weights…
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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…
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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