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…
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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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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…
Read article 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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How do you lodge complaint to RBI-Integrated Ombudsman ?
RBI today clarified that the Central Bank does not have arrangements with third parties to redress grievances against RBI-regulated entities. The above clarification was given in view of instances of misinformation being spread through certain sections of the social media about the Reserve Bank – Integrated Ombudsman Scheme 2021 (RB-IOS) has come to the notice…
Purchaser’s presence not required to be present before sub-registrar: Supreme Court
Supreme Court of India: Civil AppeaI NO. 3975 OF 2010: H.P.Puttaswamy Vs Thimmamma & Ors This suit was originally instituted on 31st March 1989 and was registered as Suit No.132 of 1989 in the Court of Civil Judge (Junior Division) Malavalli, Karnataka. The property in question comprises approximately 4500 square ft. of land in a…
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