The Reserve Bank has received 13 applications to set up bank under the Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks. The names of these applicants were given in the press releases on April 15, August 30, December 31, 2021, January 04, 2023 and January 08, 2024. The decision on nine of these applications was announced vide press releases on May 17, 2022 and July 04, 2023.

(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS  (Including RRBs,SFBs and PBs) ALL SCHEDULED BANKS 24-Mar-23 08-MAR-2024 * 22-MAR-2024 * 24-Mar-23 08-MAR-2024 * I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from banks 26119.31 293601.62 294470.85 228516.6 297404.13 

Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of March 2024 are set out in Tables 1 to 7.

Pursuant to the announcement made in the Statement on Developmental and Regulatory Policies of the Reserve Bank, as part of its Monetary Policy Statement – 2023-24 (dated October 06, 2023), a draft framework titled ‘Draft Omnibus Framework for recognising Self-Regulatory Organisations for its Regulated Entities’ was issued for public comments on December 21, 2023. Based on the examination of the inputs received, the Reserve Bank has now finalised the Omnibus Framework for recognising Self-Regulatory Organisations (SRO) for its Regulated Entities, which is given in the Annex.

(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs,SFBs and PBs) ALL SCHEDULED BANKS 10-Mar-23 23-FEB-2024 * 08-MAR-2024 * 10-Mar-23 23-FEB-2024 * 08-MAR-2024 * I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from banks 218699.94 266228.42 293601.62 220990.08 269753.71 297404.13 **  b) Borrowings from banks 81541.3 178118.67 182369.52 81963.31 178124.17 183015.74  c) Other demand & time liabilities 59183.75 71817.98 71907.6 59827.09 72457.75 72556.82

Scheduled Banks’ Statement of Position in India as on Friday, February 23, 2024

The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) today in Mumbai for establishing a framework to promote the use of local currencies viz., the Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border transactions. The MoU was signed by the Governor, Reserve Bank of India, Shri Shaktikanta Das and the Governor, Bank Indonesia, Mr. Perry Warjiyo.

The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Fincare Small Finance Bank Ltd. (Transferor Bank) with AU Small Finance Bank Ltd. (Transferee Bank). The Scheme has been sanctioned in exercise of the powers contained in sub-section (4) of Section 44A of the Banking Regulation Act, 1949. The effective date of the amalgamation shall be April 01, 2024. All the branches of Fincare Small Finance Bank Ltd. will function as branches of AU Small Finance Bank Ltd. with effect from April 01, 2024.

NEFT system has achieved a milestone on February 29, 2024, by processing 4,10,61,337 transactions, the highest number of transactions processed in a day so far.

The Financial Action Task Force (FATF) vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ – February 2024, has called on its members and other jurisdictions to refer to the statement on Democratic People’s Republic of Korea (DPRK) and Iran adopted in February 2020 which remains in effect. Further, Myanmar was added to the list of High-Risk Jurisdictions subject to a Call for Action in the October 2022 FATF plenary and FATF has called on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risk arising from Myanmar. When applying enhanced due diligence measures, countries have been advised to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted. The status of Myanmar in the list of countries subject to a call for action, remains unchanged.