Long Term Repo Operations (LTROs)

RBI has announced conduct of LTRO’s for one-year and three-year tenors for up to a total amount of ₹ 1,00,000 crores at the policy repo rate wef 17th February 2020

Statement on Developmental and Regulatory Policies

Statement on Developmental and Regulatory Policies sets out various developmental and regulatory policy measures for improving credit flows to certain sectors; reinforcing monetary transmission; strengthening regulation and supervision; broadening and deepening financial markets; and improving payment and settlement systems.

Sixth Bi-Monthly Monetary Policy Review – RBI keeps repo rate unchanged at 5.15%

RBI released the Sixth Bi-Monthly Monetary Policy leaving the Rates unchanged and giving booster dose for the growth of Economy.

RBI issues new debit and credit card rules to improve convenience and security

The central bank has asked the banks to no longer issue contactless cards by default; and has also allowed the card users to enable, disable cards for online use. RBI believes the move will improve user convenience and increase the security of card transactions.

Amendment to Master Direction (MD) on KYC

RBI introduces video-based identification process for KYC. RBI approves Aadhaar-based video authentication as alternative to e-KYC. Video KYC will have to be verified through Aadhaar.

Supervisory Action Framework for Primary (Urban) Co-operative Banks (UCBs)

RBI decided to further rationalize the SAF to make it more effective in bringing about the desired improvement in the UCBs as also expeditious resolution of UCBs experiencing financial stress. Reserve Bank will continue to monitor asset quality, profitability and capital / net worth of UCBs under the revised SAF. The revised SAF envisages initiation of corrective action by the UCB and/or supervisory action by the Reserve Bank on breach of the specified thresholds (triggers) in respect of the specified financial parameters/indicators.

India’s International Investment Position (IIP), September 2019

India’s International Investment Position (IIP), September 2019..

Cyber Security controls for Third party ATM Switch Application Service Providers

A number of RBI Regulated Entities (RREs) manage their ATM Switch ecosystem through shared services of third party ATM Switch Application Service Providers (ASPs). Since these service providers also have exposure to the payment system landscape, it is felt that some cyber security controls are required to be put in place by them.

Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) – A Graded Approach

The RBI has also decided to prescribe a comprehensive cyber security framework for UCBs, as a graded approach, based on their digital depth and inter- connectedness with the payment systems landscape, digital products offered by them and assessment of cyber security risk. A comprehensive Cyber Security Framework for UCBs has been formulated based on a graded approach. The UCBs have been categorised into four levels based on their digital depth and interconnectedness to the payment systems landscape.

Launch of Mobile Aided Note Identifier (MANI) by RBI

RBI launches ‘MANI’ app to help visually challenged to identify denomination of notes. The app is capable of identifying the denominations of Mahatma Gandhi, (New) Series banknotes by checking front or reverse side at various holding angles and a broad range of light conditions.