Tag: RBI Master Direction

RBI releases Financial Benchmark Administrators (Reserve Bank) Directions, 2019 under section 45 W of the RBI Act, 1934

The Reserve Bank of India released the Financial Benchmark Administrators (Reserve Bank) Directions, 2019 on 26th June  2019. These directions shall apply to Financial Benchmark Administrators(FBA) administering ‘significant benchmarks’ in the markets for financial instruments regulated by the Reserve Bank. The identification of a benchmark as a ‘significant benchmark’ shall be based on use, efficiency…

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Minimum Standards for a Currency Chest

1.  The Bank had constituted a Committee on Currency Movement (CCM) [Chair: Shri D.K. Mohanty, Executive Director]. The Committee, inter-alia, recommended that the Reserve Bank should encourage banks to open large Currency Chests (CCs) with modern facilities and Chest Balance Limit (CBL) of at least ₹ 10 billion. Accordingly, RBI decided to have the following…

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