On April 17th 2020 RBI Governor Shri Shakti Kanta Das announced the second series of measures to give boost to ailing economy by providing relief to various sectors and financial institutions including NBFC. The measures were aimed to (i) maintain adequate liquidity in the system and its constituents in the face of COVID-19 related dislocations; (ii) facilitate and incentivise bank credit flows; (iii) ease financial stress; and (iv) enable the normal functioning of markets.
Reserve Bank of India has issued a new framework on 7th June 2019 for resolution of bad loans, replacing the previous norms quashed by the Supreme Court in April, offering a 30-day gap for stress recognition instead of the one-day default earlier. The apex court had on April 2 struck down the stringent RBI circular, issued…
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…