To improve risk-management practices, RBI tells NBFCs to post ‘chief risk officer’

To improve risk-management practices, RBI tells NBFCs to post ‘chief risk officer’

RBI to hold ‘structured meetings’ with bank auditors to deal with divergences

On May 1 We have posted an article “RBI cracks the whip on auditors, wants them to keep eye on five key areas” wherein its was mentioned that The Reserve Bank of India (RBI) has asked bank auditors to keep a close watch on five key parameters and is to reassign its senior supervisory authority…

Priority Sector Lending – Targets and Classification

With reference to First Bi-Monthly Monetary Policy Statement on Development and Regulatory Policies RBI has prescribed eligibility criteria of housing loans for classification under priority sector for RRB’s & Small Finance Banks as under: In terms of the Master Direction for RRBs, loans to individuals up to ₹ 20 lakh for purchase/construction of a dwelling unit…

Banks must turn towards global trade-finance instruments: RBI

Banks need to expand their global banking relationship and shift towards globally accepted trade finance instruments instead of indigenous instruments (such as letter of undertaking/ letter of credit), according to a Reserve Bank of India paper.

RBI cracks the whip on auditors, wants them to keep eye on five key areas

RBI cracks the whip on auditors, wants them to keep eye on five key areas : The Reserve Bank of India (RBI) has asked bank auditors to keep a close watch on five key parameters and is to reassign its senior supervisory authority in charge of the inspection of specific banks. The twin changes have…

RBI’s revised guidelines for resolution of stressed assets likely before May 23

RBI’s revised guidelines for resolution of stressed assets likely before May 23

The Reserve Bank Extends Ombudsman Scheme for Non-Banking Financial Companies to eligible Non-Deposit Taking Non-Banking Financial Companies

As announced in Para 11 of the Statement on Developmental and Regulatory Policies of the Monetary Policy Statement dated April 04, 2019, the Reserve Bank of India (RBI) today has extended wef 26th April 2019 the coverage of Ombudsman Scheme for Non-Banking Financial Companies (NBFCs), 2018 (the Scheme) to eligible Non Deposit Taking Non Banking Financial…

RBI gets SC ultimatum on RTI Act disclosures

Central bank told to share information on annual bank inspection reports.The RBI is ‘duty bound under the law’ to disclose information sought under the RTI Act, said the Supreme Court