RBI revives instructions on SLR maintenance for balance held under SDF and SLR holding in HTM category
In partial modification to notification DBR.Ret.BC No.11/12.02.001/2018-19 dated December 05, 2018, the Reserve Bank of India notified on Friday (08/04/2022) that the balances held by banks with the RBI under the SDF shall be an eligible Statutory Liquidity Ratio (SLR) asset and such balances shall form part of “Cash” for SLR maintenance. Banks shall report…
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RBI to operationalise Standing Deposit facility (SDF)
RBI in its circular dated April 8, 2022, announced that a Standing Deposit Facility (SDF) is being operationalised with immediate effect, i.e., from April 8, 2022. The existing Fixed Rate Reverse Repo (FRRR) henceforth be replaced by SDF as the floor of the LAF corridor. So far, RBI used three policy rates under the LAF…
Read article MPC Meeting Apr 2022: SDF to be the new floor for policy rates, Repo rate unchanged
The six-member Monetary Policy Committee (MPC) meeting headed by Reserve Bank of India (RBI) Governor Shaktikanta Das kept the repo rate unchanged at 4 per cent, while the newly introduced SDF rate has been set at 3.75%, higher than the 3.35% fixed reverse repo rate, which is the rate at which banks park their excess…
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Scheduled commercial banks can now establish separate Digital Banking Units (DBU): RBI
The Reserve Bank of India today (April 7, 2022) released the guidelines on the “Establishment of Digital Banking Units (DBUs)”. These guidelines are applicable to all Domestic Scheduled Commercial Banks (excluding Regional Rural Banks, Payments Banks, and Local Area Banks). As per the guidelines, scheduled commercial banks with past digital banking experience are permitted to…
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All ATMs shall achieve cassette swap by March 31, 2023: RBI
The Reserve Bank of India (RBI) on Thursday has extended the timeline for banks to use lockable cassettes, which could be swapped at the time of cash replenishment, in their ATMs by a year to March 31, 2023. The RBI had come out with the circular in 2018 advising banks to consider using lockable Cassette…
Banks will conduct special clearing ops on Mar 31 for closure of govt accounts
Banks will conduct special clearing operations for the annual closure of government accounts on March 31, to facilitate accounting of all government transactions for the current financial year (2021-22). The Reserve Bank said that the above direction of the Central bank is mandatory for all banks to participate in the proposed special clearing operations for…
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