Execution of Loan Documents: The manager must remember these 29 important points
The main concern of a bank is that security available to it should be good enough to fall back upon, in the event of adverse circumstances. The role of loan documentation in the bank is to establish a legal relationship between the lender and the borrower when the dispute goes to a court of law.…
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Soon, QR Code based Coin Vending Machines
In the statement on Developmental and Regulatory Policies dated February 8, 2023, the Reserve Bank of India (RBI) announced today that the central bank will start a pilot project to launch QR code based coin vending machines. Unlike cash-based traditional Coin Vending Machines, the QCVM is a coin dispensation machine that would eliminate the need…
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RBI hikes repo rate by 25 bps, monetary policy will remain agile and alert to inflation says Governor
The six-member Monetary Policy Committee (MPC) headed by RBI Governor on Wednesday (February 8, 2023) announced the hike in the repo rate by 25 basis points to 6.50%. The RBI also projected India’s GDP growth at 6.4 per cent for 2023-24 and projected retail inflation at 6.5 per cent for 2022-23 and 5.3 per cent…
Read article Provisions to be made on an expected credit loss (ECL)
The Reserve Bank of India on Monday released the draft guidelines for banks to make provisions on an expected credit loss (ECL) basis as against the current framework of incurred loss method. It means banks have to shift away from the current method – where loan loss provisions are made after a default – to…
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List of eligible credit rating agencies in India for the risk weighting banks’ claims for capital adequacy purposes
The Securities and Exchange Board of India canceled the Certificate of Registration (CoR) granted to Brickwork Ratings India Private Limited as a Credit Rating Agency (CRA), on October 6, 2022. In view of that RBI on October 9, 2022, advised Regulated Entities/ Market Participants that in respect of ratings/credit evaluations required in terms of any…
The complaints under Ombudsman Schemes rise to 4.18 lakh in 2021-22: RBI
The Reserve Bank of India today (04.01.2023), released the Annual Report of the Ombudsman Schemes for the period April 01, 2021 – March 31, 2022. Some highlights from the Annual Report are as follows: *Reserve Bank – Integrated Ombudsman Scheme (RB-IOS) was launched on November 12, 2021. Under the RB-IOS, 2021, a CRPC was…
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