“Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”

The Reserve Bank of India today released on its website, “Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”. In the Second Bi-monthly Monetary Policy Statement, 2019-20 dated June 06, 2019, it was announced that the Draft Guidelines for ‘on tap’ Licensing of such banks will be issued. Accordingly, the draft guidelines were published on the RBI website on September 13, 2019 inviting comments from the stakeholders and members of the public. Taking into consideration the responses received, the final guidelines have now been issued.

Fifth Bi-monthly Monetary Policy Statement, 2019-20 – Key Highlights

RBI Monetary Policy Highlights: Future repo rate cuts not being ruled out, says Shaktikanta Das. Despite an expectation of 25 bps repo rate cut, MPC maintained status quo on repo rate at 5.15 percent and accommodative stance.

On-tap authorisation: RBI issues guidelines for BBPOU, White Label ATMs

Reserve Bank issued instructions on ‘on tap’ authorisation to entities desirous to function / operate / provide platforms for Bharat Bill Payment Operating Unit (BBPOU); Trade Receivables Discounting System (TReDS); and White Label ATMs (WLAs).

RBI on alert after counterfeit notes resurface

The Reserve Bank of India (RBI) is on alert after the National Investigation Agency (NIA) found fake currency notes in circulation.

RBI stops printing Rs 2,000 denomination notes

RBI stops printing Rs 2,000 denomination notes

RBI Central Board discusses regulatory framework of co-op banks amid PMC Bank scam

The Reserve Bank’s central board on Friday discussed in detail the regulatory and supervisory architecture of commercial and cooperative banks against the backdrop of Rs 4,500 crore scam at the PMC Bank.

RBI overhauls cooperative banks’ old email based reporting system after PMC debacle

RBI has asked all cooperative banks to replace the existing system of email-based reporting.

State Finances: A Study of Budgets of 2019-20

Reserve Bank of India (RBI) released the report titled “State Finances: A Study of Budgets of 2019-20”, an annual publication that provides information, analysis and an assessment of the finances of state governments. With several states facing state elections this summer, presentation of their final budgets was delayed till July-September 2019. This year’s Report analyses the underlying dynamics of budget estimates (BE) for 2019-20 against the backdrop of actual for 2017-18 and revised (and provisional accounts) outcomes for 2018-19. The Report addresses the theme of “Debt: States’ Medium Term Fiscal Challenges”. A time-series data published in State Finance Reports from 1990-91 is also released along with this Report.

Statement on Developmental and Regulatory Policies

Statement on Developmental and Regulatory Policies released by RBI on 4th October sets out various developmental and regulatory policy measures for strengthening regulation and supervision; broadening and deepening financial markets; and improving the payment and settlement systems.

RBI policy: Highest cumulative repo rate cut in 10 years

The repo rate was cut by 135bps so far in CY19. The last time the repo rate saw such a large cumulative cut in a year, was in 2009.