Reserve Bank of India advises members of public to remain cautious and not to fall prey to elements using the name of Reserve Bank of India to extract money through such fictitious/ fraudulent offers.
RBI has issued Guidelines for Implementation of the circular on Opening of Current Accounts by Banks and extended the timeline upto 31st October 2021 for implementing the provisions of the circular
Reserve Bank released the 23rd issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the financial system in the context of contemporaneous issues relating to development and regulation of the financial sector.
The Reserve Bank of India today released the July 2021 issue of its monthly Bulletin. The Bulletin includes three Articles and Current Statistics.
The three articles are: I. State of the Economy; II. Monetary Policy Transmission in India: Recent Developments; and III. Drivers of Indian Pharmaceutical Exports.
Reserve Bank of India (RBI) today announced its bi-monthly monetary policy review as RBI Governor Shaktikanta Das read out Monetary Policy statement. RBI has projected India’s GDP growth at 9.5 per cent for the ongoing Financial Year of 2021-2022. RBI has kept repo rate unchanged at 4 per cent, sixth time in a row. The RBI reverse repo rate or RBI’s borrowing rate also remains unchanged at 3.35 percent. RBI has also maintained accommodative monetary policy stance to support growth and kept inflation at targeted level.
The Reserve Bank of India has set up a Regulations Review Authority (RRA 2.0), initially for a period of one year from May 01, 2021, vide press release dated April 15, 2021. The RRA will review the regulatory prescriptions internally as well as by seeking suggestions from the RBI regulated entities and other stakeholders on their simplification and ease of implementation.
Keeping in view the current COVID-19 related restrictions in various parts of the country, REs are advised that in respect of the customer accounts where periodic updation of KYC is due and pending as on date, no restrictions on operations of such account shall be imposed till December 31, 2021,
In view of the uncertainties created by the resurgence of the Covid-19 pandemic in India in the recent weeks, it has been decided to extend the Resolution Framework 2.0 – Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs) facility for restructuring existing loans without a downgrade in the asset classification subject to the following conditions:
The resurgence of Covid-19 pandemic in India in the recent weeks and the consequent containment measures to check the spread of the pandemic may impact the recovery process and create new uncertainties. With the objective of alleviating the potential stress to individual borrowers and small businesses, a set of measures are being announced by RBI. These set of measures are broadly in line with the contours of the Resolution Framework – 1.0, with suitable modifications.
RBI Dy. Governor’s portfolios consequent to posting of Shri Rabi Shankar as Dy Governor