प्रारूप अधिसूचनाएं - आरबीआई - Reserve Bank of India
प्रारूप अधिसूचनाएं
DRAFT CIRCULAR FOR COMMENTS RBI/2024-25/ DOR.STR.REC. /21.04.048/2024-25 August 05, 2024 All Commercial Banks (including Regional Rural Banks and Local Area Banks) All Primary (Urban) Co-operative Banks All State Cooperative Banks & Central Cooperative Banks All Non-Banking Financial Companies (including Housing Finance Companies) All All-India Financial Institutions Madam/Dear Sir, Regulatory Principles for Management of Model Risks in Credit
DRAFT CIRCULAR FOR COMMENTS RBI/2024-25/ DOR.STR.REC. /21.04.048/2024-25 August 05, 2024 All Commercial Banks (including Regional Rural Banks and Local Area Banks) All Primary (Urban) Co-operative Banks All State Cooperative Banks & Central Cooperative Banks All Non-Banking Financial Companies (including Housing Finance Companies) All All-India Financial Institutions Madam/Dear Sir, Regulatory Principles for Management of Model Risks in Credit
Please refer to circular DBOD.BP.BC.No.120/21.04.098/2013-14 dated June 09, 2014 on ‘Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards’ and associated guidelines.
Notification No. FEMA XX/2024-RB July XX, 2024 Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024 In exercise of the powers conferred by Section 7, Section 8, Section 10(6) and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in supersession of the Foreign Exchange Management (Export of Goods & Services) Regulations 2015 (Notification No. FEMA 23(R)/2015-RB dated January 12, 2016), except as respects things done or omitted to be done before such supersession, Reserve Bank of India makes the following Regulations
Notification No. FEMA XX/2024-RB July XX, 2024 Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024 In exercise of the powers conferred by Section 7, Section 8, Section 10(6) and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in supersession of the Foreign Exchange Management (Export of Goods & Services) Regulations 2015 (Notification No. FEMA 23(R)/2015-RB dated January 12, 2016), except as respects things done or omitted to be done before such supersession, Reserve Bank of India makes the following Regulations
RBI/2024-25/XX A.P. (DIR Series) Circular No. XX July XX, 2024 All Authorised Dealers - Category I banks Madam / Sir, Export and Import of Goods and Services Reserve Bank of India, in exercise of the powers conferred under Foreign Exchange Management Act 1999 (42 of 1999) and in supersession of Master Direction – Export of Goods and Services and Master Direction – Import of Goods and Services, hereby issues the directions on export and import of goods and services.
RBI/2024-25/XX A.P. (DIR Series) Circular No. XX July XX, 2024 All Authorised Dealers - Category I banks Madam / Sir, Export and Import of Goods and Services Reserve Bank of India, in exercise of the powers conferred under Foreign Exchange Management Act 1999 (42 of 1999) and in supersession of Master Direction – Export of Goods and Services and Master Direction – Import of Goods and Services, hereby issues the directions on export and import of goods and services.
DRAFT FOR COMMENTS RBI/DOR/2024-25/ DOR.STR.REC. /21.04.048/2024-25 May 03, 2024 All Commercial Banks (including Small Finance Banks but excluding Payments Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies
DRAFT FOR COMMENTS RBI/DOR/2024-25/ DOR.STR.REC. /21.04.048/2024-25 May 03, 2024 All Commercial Banks (including Small Finance Banks but excluding Payments Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies
भारतीय रिज़र्व बैंक वित्तीय बाजार विनियमन विभाग 9वीं मंजिल, केन्द्रीय कार्यालय (मुख्य भवन), फोर्ट मुम्बई 400 001 मास्टर निदेश – भारतीय रिज़र्व बैंक (इलेक्ट्रॉनिक ट्रेडिंग प्लेटफार्म) निदेश, 2024 – मसौदा भारतीय रिज़र्व बैंक अधिनियम, 1934 (इसके बाद इसे ‘अधिनियम’ कहा गया है) की धारा
भारतीय रिज़र्व बैंक वित्तीय बाजार विनियमन विभाग 9वीं मंजिल, केन्द्रीय कार्यालय (मुख्य भवन), फोर्ट मुम्बई 400 001 मास्टर निदेश – भारतीय रिज़र्व बैंक (इलेक्ट्रॉनिक ट्रेडिंग प्लेटफार्म) निदेश, 2024 – मसौदा भारतीय रिज़र्व बैंक अधिनियम, 1934 (इसके बाद इसे ‘अधिनियम’ कहा गया है) की धारा
टिप्पणियों के लिए मसौदा परिपत्र सीओ.डीपीएसएस.पीओएलसी.सं.एस-*** / 02-14-008 / 2024-25 जारी करने की तिथि सभी भुगतान प्रणाली प्रदाता और भुगतान प्रणाली प्रतिभागी महोदया / प्रिय महोदय, भुगतान एग्रीगेटरों (पीए) का विनियमन – मसौदा कृपया भारतीय रिज़र्व बैंक (आरबीआई) के दिनांक 17 मार्च 2020 के परिपत्र डीपीएसएस.सीओ.पीडी.सं.1810 / 02.14.008 / 2019-20, दिनांक 31 मार्च 2021 को “भुगतान एग्रीगेटर और भुगतान गेटवे के विनियमन पर दिशानिर्देश” पर परिपत्र सीओ.डीपीएसएस.पीओएलसी.सं.एस 33 / 02-14-008 / 2020-2021 और दिनांक 28 जुलाई 2022 को “भुगतान एग्रीगेटर का विनियमन - प्राधिकरण के लिए आवेदन जमा करने की समय सीमा – समीक्षा” पर के परिपत्र सीओ.डीपीएसएस.पीओएलसी.सं.एस-761 / 02-14-008 / 2022-23 की ओर आपका ध्यान आमंत्रित किया जाता है। भुगतान पारिस्थितिकी तंत्र में भुगतान एग्रीगेटर्स (पीए) के महत्व को ध्यान में रखते हुए, इन परिपत्रों में, अन्य बातों के साथ-साथ, आरबीआई द्वारा ऑनलाइन बिक्री के केंद्र पर भुगतान की सुविधा प्रदान करने वाले पीए के प्रत्यक्ष विनियमन और प्राधिकरण का प्रावधान किया गया है।
टिप्पणियों के लिए मसौदा परिपत्र सीओ.डीपीएसएस.पीओएलसी.सं.एस-*** / 02-14-008 / 2024-25 जारी करने की तिथि सभी भुगतान प्रणाली प्रदाता और भुगतान प्रणाली प्रतिभागी महोदया / प्रिय महोदय, भुगतान एग्रीगेटरों (पीए) का विनियमन – मसौदा कृपया भारतीय रिज़र्व बैंक (आरबीआई) के दिनांक 17 मार्च 2020 के परिपत्र डीपीएसएस.सीओ.पीडी.सं.1810 / 02.14.008 / 2019-20, दिनांक 31 मार्च 2021 को “भुगतान एग्रीगेटर और भुगतान गेटवे के विनियमन पर दिशानिर्देश” पर परिपत्र सीओ.डीपीएसएस.पीओएलसी.सं.एस 33 / 02-14-008 / 2020-2021 और दिनांक 28 जुलाई 2022 को “भुगतान एग्रीगेटर का विनियमन - प्राधिकरण के लिए आवेदन जमा करने की समय सीमा – समीक्षा” पर के परिपत्र सीओ.डीपीएसएस.पीओएलसी.सं.एस-761 / 02-14-008 / 2022-23 की ओर आपका ध्यान आमंत्रित किया जाता है। भुगतान पारिस्थितिकी तंत्र में भुगतान एग्रीगेटर्स (पीए) के महत्व को ध्यान में रखते हुए, इन परिपत्रों में, अन्य बातों के साथ-साथ, आरबीआई द्वारा ऑनलाइन बिक्री के केंद्र पर भुगतान की सुविधा प्रदान करने वाले पीए के प्रत्यक्ष विनियमन और प्राधिकरण का प्रावधान किया गया है।
टिप्पणियों के लिए मसौदा परिपत्र सीओ.डीपीएसएस.पीओएलसी.सं.एस-*** / 02-14-008 / 2023-24 जारी करने की तिथि सभी भुगतान प्रणाली प्रदाता और भुगतान प्रणाली प्रतिभागी महोदया / प्रिय महोदय, भुगतान एग्रीगेटर्स का विनियमन – बिक्री का भौतिक बिंदु - मसौदा कृपया भारतीय रिजर्व बैंक (आरबीआई) के “भुगतान एग्रीगेटर्स और भुगतान गेटवे के विनियमन पर दिशानिर्देश” पर दिनांक 17 मार्च, 2020 के डीपीएसएस.सीओ.पीडी.सं.1810/02.14.008/2019-20 और दिनांक 31 मार्च, 2021 के सीओ.डीपीएसएस.पीओएलसी.सं.एस 33/02-14-008/2020-2021 परिपत्रों और “भुगतान एग्रीगेटर्स का विनियमन – प्राधिकरण के लिए आवेदन जमा करने की समयसीमा – समीक्षा पर दिनांक 28 जुलाई, 2022 के परिपत्र सीओ.डीपीएसएस.पीओएलसी.सं.एस -761/02-14-008/2022-23 का संदर्भ लें। भुगतान पारिस्थितिकी तंत्र में भुगतान एग्रीगेटर्स (पीए) के महत्व को ध्यान में रखते हुए, इन परिपत्रों में, अन्य बातों के साथ-साथ, आरबीआई द्वारा ऑनलाइन/ई-कॉमर्स भुगतान लेनदेन की सुविधा प्रदान करने वाले पीए के प्रत्यक्ष विनियमन और प्राधिकरण का प्रावधान किया गया है।
टिप्पणियों के लिए मसौदा परिपत्र सीओ.डीपीएसएस.पीओएलसी.सं.एस-*** / 02-14-008 / 2023-24 जारी करने की तिथि सभी भुगतान प्रणाली प्रदाता और भुगतान प्रणाली प्रतिभागी महोदया / प्रिय महोदय, भुगतान एग्रीगेटर्स का विनियमन – बिक्री का भौतिक बिंदु - मसौदा कृपया भारतीय रिजर्व बैंक (आरबीआई) के “भुगतान एग्रीगेटर्स और भुगतान गेटवे के विनियमन पर दिशानिर्देश” पर दिनांक 17 मार्च, 2020 के डीपीएसएस.सीओ.पीडी.सं.1810/02.14.008/2019-20 और दिनांक 31 मार्च, 2021 के सीओ.डीपीएसएस.पीओएलसी.सं.एस 33/02-14-008/2020-2021 परिपत्रों और “भुगतान एग्रीगेटर्स का विनियमन – प्राधिकरण के लिए आवेदन जमा करने की समयसीमा – समीक्षा पर दिनांक 28 जुलाई, 2022 के परिपत्र सीओ.डीपीएसएस.पीओएलसी.सं.एस -761/02-14-008/2022-23 का संदर्भ लें। भुगतान पारिस्थितिकी तंत्र में भुगतान एग्रीगेटर्स (पीए) के महत्व को ध्यान में रखते हुए, इन परिपत्रों में, अन्य बातों के साथ-साथ, आरबीआई द्वारा ऑनलाइन/ई-कॉमर्स भुगतान लेनदेन की सुविधा प्रदान करने वाले पीए के प्रत्यक्ष विनियमन और प्राधिकरण का प्रावधान किया गया है।
आरबीआई/2023-24/ विवि.एसएफ़जी.आरईसी. /30.01.021/2023-24 28 फरवरी 2024 सभी अनुसूचित वाणिज्यिक बैंक (स्थानीय क्षेत्र बैंक, भुगतान बैंक और क्षेत्रीय ग्रामीण बैंकों को छोड़कर) सभी टियर-IV प्राथमिक (शहरी) सहकारी बैंक (यूसीबी) सभी अखिल भारतीय वित्तीय संस्थान (अर्थात एक्जिम बैंक, नाबार्ड, एनएबीएफआईडी, एनएचबी और सिडबी) सभी शीर्ष और उच्च स्तर की गैर-बैंकिंग वित्तीय कंपनियां (एनबीएफसी)
आरबीआई/2023-24/ विवि.एसएफ़जी.आरईसी. /30.01.021/2023-24 28 फरवरी 2024 सभी अनुसूचित वाणिज्यिक बैंक (स्थानीय क्षेत्र बैंक, भुगतान बैंक और क्षेत्रीय ग्रामीण बैंकों को छोड़कर) सभी टियर-IV प्राथमिक (शहरी) सहकारी बैंक (यूसीबी) सभी अखिल भारतीय वित्तीय संस्थान (अर्थात एक्जिम बैंक, नाबार्ड, एनएबीएफआईडी, एनएचबी और सिडबी) सभी शीर्ष और उच्च स्तर की गैर-बैंकिंग वित्तीय कंपनियां (एनबीएफसी)
Please refer to paragraph 91.7 of Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023 dated October 19, 2023 as per which Government owned NBFCs set up to serve specific sectors are permitted to approach the Reserve Bank for exemptions, if any, from credit/investment concentration norms.
Please refer to paragraph 91.7 of Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023 dated October 19, 2023 as per which Government owned NBFCs set up to serve specific sectors are permitted to approach the Reserve Bank for exemptions, if any, from credit/investment concentration norms.
Technological innovations are reshaping the financial services landscape, with FinTechs emerging as disruptors and facilitators. FinTechs encompass diverse entities in terms of constitution, size, activities, domains, etc., all subject to constant flux and evolution. FinTechs play a pivotal role in redefining financial services by saving time, enhancing access, and lowering costs. At the same time, the sector raises concerns relating to customer protection, data privacy, cyber security, grievance handling, internal governance, financial system integrity, and the like. While the innovation and dynamism of FinTechs needs to be harnessed, the emerging risks require to be appropriately managed. In such a context, approach to regulation should be imaginative, adaptive, flexible, and proportionate to the perceived risks. In particular, an effective regulatory approach should maintain the balance between maximising the creative potential of FinTechs, while minimising the idiosyncratic risks they pose to the financial system.
Technological innovations are reshaping the financial services landscape, with FinTechs emerging as disruptors and facilitators. FinTechs encompass diverse entities in terms of constitution, size, activities, domains, etc., all subject to constant flux and evolution. FinTechs play a pivotal role in redefining financial services by saving time, enhancing access, and lowering costs. At the same time, the sector raises concerns relating to customer protection, data privacy, cyber security, grievance handling, internal governance, financial system integrity, and the like. While the innovation and dynamism of FinTechs needs to be harnessed, the emerging risks require to be appropriately managed. In such a context, approach to regulation should be imaginative, adaptive, flexible, and proportionate to the perceived risks. In particular, an effective regulatory approach should maintain the balance between maximising the creative potential of FinTechs, while minimising the idiosyncratic risks they pose to the financial system.
कृपया हमारा परिपत्र वि.वि.गै.बैं.वि.क.(आ.वि.कं).कं.परि.सं.118/03.10.136/2020-21 दिनांक 22 अक्टूबर 2020 देखें, जिसे 17 जून, 2020 को सार्वजनिक डोमेन में रखे गए एचएफसी के लिए विनियामक ढांचे के मसौदे पर प्राप्त इनपुट की जांच के बाद जारी किया गया था।
कृपया हमारा परिपत्र वि.वि.गै.बैं.वि.क.(आ.वि.कं).कं.परि.सं.118/03.10.136/2020-21 दिनांक 22 अक्टूबर 2020 देखें, जिसे 17 जून, 2020 को सार्वजनिक डोमेन में रखे गए एचएफसी के लिए विनियामक ढांचे के मसौदे पर प्राप्त इनपुट की जांच के बाद जारी किया गया था।
Draft Circular for comments DOR.ACC.REC.No.##/21.02.067/2023-24 January 2, 2024 Madam/ Dear Sir, Declaration of dividend by banks and remittance of profits to Head Office by foreign bank branches in India The Reserve Bank has granted general permission to all scheduled commercial banks [excluding regional rural banks (RRBs)] to declare dividends vide circular reference DBOD.NO.BP.BC.88/21.02.067/2004-05 dated May 4, 2005 on ‘Declaration of dividends by banks’. Similarly, foreign banks operating in India in the branch mode are permitted to remit profits to their head office without prior approval from the Reserve Bank pursuant to circular reference DBOD.No.IBS.BC.46/16.13.100/2003-04 dated November 6, 2003.
Draft Circular for comments DOR.ACC.REC.No.##/21.02.067/2023-24 January 2, 2024 Madam/ Dear Sir, Declaration of dividend by banks and remittance of profits to Head Office by foreign bank branches in India The Reserve Bank has granted general permission to all scheduled commercial banks [excluding regional rural banks (RRBs)] to declare dividends vide circular reference DBOD.NO.BP.BC.88/21.02.067/2004-05 dated May 4, 2005 on ‘Declaration of dividends by banks’. Similarly, foreign banks operating in India in the branch mode are permitted to remit profits to their head office without prior approval from the Reserve Bank pursuant to circular reference DBOD.No.IBS.BC.46/16.13.100/2003-04 dated November 6, 2003.
घरेलू प्रणालीगत रूप से महत्वपूर्ण बैंकों (डी-एसआईबी) के निपटान से संबन्धित ढांचा (28 दिसंबर 2023 तक संशोधित[1]) परिचय कुछ बैंक, अपने आकार, अंतर-क्षेत्राधिकार गतिविधियों, जटिलता, प्रतिस्थापन क्षमता की कमी और परस्पर जुड़ाव के कारण, प्रणालीगत रूप से महत्वपूर्ण हो जाते हैं। इन बैंकों की अव्यवस्थित विफलता से बैंकिंग प्रणाली को प्रदान की जाने वाली आवश्यक सेवाओं और परिणामस्वरूप, समग्र आर्थिक गतिविधि में महत्वपूर्ण व्यवधान उत्पन्न होने की संभावना है। इसलिए, वास्तविक अर्थव्यवस्था के लिए आवश्यक बैंकिंग सेवाओं की निर्बाध उपलब्धता के लिए प्रणालीगत रूप से महत्वपूर्ण बैंकों (एसआईबी) का निरंतर कामकाज महत्वपूर्ण है।
घरेलू प्रणालीगत रूप से महत्वपूर्ण बैंकों (डी-एसआईबी) के निपटान से संबन्धित ढांचा (28 दिसंबर 2023 तक संशोधित[1]) परिचय कुछ बैंक, अपने आकार, अंतर-क्षेत्राधिकार गतिविधियों, जटिलता, प्रतिस्थापन क्षमता की कमी और परस्पर जुड़ाव के कारण, प्रणालीगत रूप से महत्वपूर्ण हो जाते हैं। इन बैंकों की अव्यवस्थित विफलता से बैंकिंग प्रणाली को प्रदान की जाने वाली आवश्यक सेवाओं और परिणामस्वरूप, समग्र आर्थिक गतिविधि में महत्वपूर्ण व्यवधान उत्पन्न होने की संभावना है। इसलिए, वास्तविक अर्थव्यवस्था के लिए आवश्यक बैंकिंग सेवाओं की निर्बाध उपलब्धता के लिए प्रणालीगत रूप से महत्वपूर्ण बैंकों (एसआईबी) का निरंतर कामकाज महत्वपूर्ण है।
Reserve Bank of India (Bond Forwards) Directions, 2023 - Draft In exercise of the powers conferred under section 45W of the Reserve Bank of India Act, 1934 (hereinafter called the Act) read with section 45U of the Act, the Reserve Bank of India (hereinafter called the Reserve Bank) hereby issues the following Directions.
Reserve Bank of India (Bond Forwards) Directions, 2023 - Draft In exercise of the powers conferred under section 45W of the Reserve Bank of India Act, 1934 (hereinafter called the Act) read with section 45U of the Act, the Reserve Bank of India (hereinafter called the Reserve Bank) hereby issues the following Directions.
Section 3(a) of Foreign Exchange Management Act, 1999 (‘’FEMA’’) stipulates:
‘Save as otherwise provided in this Act, rules or regulations made thereunder, or with the general or special permission of the Reserve Bank, no person shall deal in or transfer any foreign exchange or foreign security to any person not being an authorised person.’
Further, section 10(1) of FEMA, 1999 stipulates:
‘The Reserve Bank may, on an application made to it in this behalf, authorise any person to be known as authorised person to deal in foreign exchange or in foreign securities, as an authorised dealer, money changer or off-shore banking unit or in any other manner as it deems fit.’
2. The Reserve Bank issues authorisation in the form of a licence to Authorised Persons (APs), which includes authorised dealers and Full-Fledged Money Changers (FFMCs). Authorisation is also granted to select institutions to carry out specific foreign exchange transactions related to their business activities.
Section 3(a) of Foreign Exchange Management Act, 1999 (‘’FEMA’’) stipulates:
‘Save as otherwise provided in this Act, rules or regulations made thereunder, or with the general or special permission of the Reserve Bank, no person shall deal in or transfer any foreign exchange or foreign security to any person not being an authorised person.’
Further, section 10(1) of FEMA, 1999 stipulates:
‘The Reserve Bank may, on an application made to it in this behalf, authorise any person to be known as authorised person to deal in foreign exchange or in foreign securities, as an authorised dealer, money changer or off-shore banking unit or in any other manner as it deems fit.’
2. The Reserve Bank issues authorisation in the form of a licence to Authorised Persons (APs), which includes authorised dealers and Full-Fledged Money Changers (FFMCs). Authorisation is also granted to select institutions to carry out specific foreign exchange transactions related to their business activities.
Draft Master Direction for Comments All Commercial Banks (including Local Area Banks, Regional Rural Banks, Payments Banks, and Small Finance Banks) All-India Financial Institutions (viz. Exim Bank, NABARD, NHB, SIDBI, and NaBFID) All Non-Banking Financial Companies including Housing Finance Companies (HFCs) All Urban Co-operative Banks, State Co-operative Banks, and Central Co-operative Banks All Credit Information Companies
Draft Master Direction for Comments All Commercial Banks (including Local Area Banks, Regional Rural Banks, Payments Banks, and Small Finance Banks) All-India Financial Institutions (viz. Exim Bank, NABARD, NHB, SIDBI, and NaBFID) All Non-Banking Financial Companies including Housing Finance Companies (HFCs) All Urban Co-operative Banks, State Co-operative Banks, and Central Co-operative Banks All Credit Information Companies
DoR.SIG.FIN.REC.xx/20.16.003/2023-24
September 21, 2023
Reserve Bank of India
(Treatment of Wilful Defaulters and Large Defaulters) Directions, 2023
In exercise of the powers conferred under Chapter III-A of the Reserve Bank of India Act, 1934, Section 21, Section 35-A read with Section 56 of the Banking Regulation Act, 1949 and Section 11 of the Credit Information Companies (Regulation) Act, 2005, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest to do so, hereby, issues the Directions hereinafter specified:
Objective
The primary objective of these Directions is to provide for a non-discriminatory and transparent procedure, while complying with the principles of natural justice for classifying a borrower as a wilful defaulter by the lenders. The directions also aim to put in place a system to disseminate credit information about wilful defaulters for cautioning lenders to ensure that further institutional finance is not made available to them.
CHAPTER I
PRELIMINARY
1. Short Title and Commencement
(1) These Directions shall be called the Reserve Bank of India (Treatment of Wilful Defaulters and Large Defaulters) Directions, 2023.
(2) These Directions shall come into force after 90 days from placing it on the website of the Reserve Bank.
2. Applicability
(1) The provisions regarding wilful defaulters contained in these Directions shall apply to the ‘lenders’ as defined in these Directions.
(2) Asset Reconstruction Companies (ARCs), and Credit Information Companies (CICs) shall be bound by these Directions only with regard to the reporting requirements contained in Chapter III.
(3) The restrictions on further financial accommodation to wilful defaulters shall apply to all entities regulated by the Reserve Bank, irrespective of whether they fall within the definition of ‘lender’ as provided in these Directions or not.
(4) The provisions regarding large defaulters contained in these Directions shall apply to all entities regulated by the Reserve Bank, irrespective of whether they fall within the definition of ‘lender’ as provided in these Directions or not.
3. Definitions
(1) In these Directions, unless the context or subject otherwise requires, -
(a) “All India Financial Institution (AIFI)”1 means -
-
Export Import Bank of India (EXIM Bank);
-
National Bank for Agriculture and Rural Development (NABARD);
-
National Housing Bank (NHB);
-
Small Industries Development Bank of India (SIDBI); and
-
National Bank for Financing Infrastructure and Development (NaBFID).
(b) “bank” means -
DoR.SIG.FIN.REC.xx/20.16.003/2023-24
September 21, 2023
Reserve Bank of India
(Treatment of Wilful Defaulters and Large Defaulters) Directions, 2023
In exercise of the powers conferred under Chapter III-A of the Reserve Bank of India Act, 1934, Section 21, Section 35-A read with Section 56 of the Banking Regulation Act, 1949 and Section 11 of the Credit Information Companies (Regulation) Act, 2005, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest to do so, hereby, issues the Directions hereinafter specified:
Objective
The primary objective of these Directions is to provide for a non-discriminatory and transparent procedure, while complying with the principles of natural justice for classifying a borrower as a wilful defaulter by the lenders. The directions also aim to put in place a system to disseminate credit information about wilful defaulters for cautioning lenders to ensure that further institutional finance is not made available to them.
CHAPTER I
PRELIMINARY
1. Short Title and Commencement
(1) These Directions shall be called the Reserve Bank of India (Treatment of Wilful Defaulters and Large Defaulters) Directions, 2023.
(2) These Directions shall come into force after 90 days from placing it on the website of the Reserve Bank.
2. Applicability
(1) The provisions regarding wilful defaulters contained in these Directions shall apply to the ‘lenders’ as defined in these Directions.
(2) Asset Reconstruction Companies (ARCs), and Credit Information Companies (CICs) shall be bound by these Directions only with regard to the reporting requirements contained in Chapter III.
(3) The restrictions on further financial accommodation to wilful defaulters shall apply to all entities regulated by the Reserve Bank, irrespective of whether they fall within the definition of ‘lender’ as provided in these Directions or not.
(4) The provisions regarding large defaulters contained in these Directions shall apply to all entities regulated by the Reserve Bank, irrespective of whether they fall within the definition of ‘lender’ as provided in these Directions or not.
3. Definitions
(1) In these Directions, unless the context or subject otherwise requires, -
(a) “All India Financial Institution (AIFI)”1 means -
-
Export Import Bank of India (EXIM Bank);
-
National Bank for Agriculture and Rural Development (NABARD);
-
National Housing Bank (NHB);
-
Small Industries Development Bank of India (SIDBI); and
-
National Bank for Financing Infrastructure and Development (NaBFID).
(b) “bank” means -
पृष्ठ अंतिम बार अपडेट किया गया: नवंबर 23, 2022
पृष्ठ अंतिम बार अपडेट किया गया: सितंबर 05, 2024