RBI issued instructions to all the Financial Institutions including Banks, Cooperative Banks, NBFC’s and other FI’s to initiate necessary action for reclassification of enterprises as per the new definition w.e.f July 1, 2020 and issue necessary instructions to your branches/controlling offices in this regard,
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.
Small finance banks’ capital rules on RBI radar again. The review of the norms may immediately benefit Equitas Small Finance Bank and Ujjivan Small Finance Bank, which are desperately trying to abide by the listing rule by way of share-transfer schemes.
With reference to First Bi-Monthly Monetary Policy Statement on Development and Regulatory Policies RBI has prescribed eligibility criteria of housing loans for classification under priority sector for RRB’s & Small Finance Banks as under: In terms of the Master Direction for RRBs, loans to individuals up to ₹ 20 lakh for purchase/construction of a dwelling unit…
Small finance banks look to tap Odisha market for growth. Entities with a small finance bank licence can provide basic banking services of accepting deposits and lending
These talks were part of the ‘PSB Manthan’ – the conclave of state-run banks – where PSBs were told that the Rs 2.11lakh crore recapitalisation the government has announced would depend on the reforms they undertake to clean up their books and increase lending to medium and small enterprises.
What is Negative Interest Rate?DEFINITION of ‘Negative Interest Rate Policy (NIRP)’ A negative interest rate policy (NIRP) is an unconventional monetary policy tool whereby nominal target interest rates are set with a negative value, below the theoretical lower bound of zero percent.A negative interest rate means the Central Bank and perhaps private banks will charge…