RESERVE BANK OF INDIA FINANCIAL MARKETS REGULATION DEPARTMENT 9TH FLOOR, CENTRAL OFFICE BUILDING, FORT MUMBAI 400 001 Variation Margin (Reserve Bank) Directions, 2020 - 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. A reference is also invited to the Fo

1. Introduction 1.1. The Reserve Bank of India (RBI), as the regulator of payment and settlement systems in the country, sets the necessary regulatory framework, generally through a consultative process, to ensure that different types of payment systems operate in the country to meet the various payment needs in the economy. Over a period of time, a bouquet of payment instruments has evolved to meet the needs of different segments of users. 1.2. As the payment ecosyst

A. Objective To set up new pan-India umbrella entity / entities focussing on retail payment systems. Such an entity shall be a Company incorporated in India under the Companies Act, 2013. The Company may be a ‘for-profit’ or a Section 8 Company as may be decided by it. B. Authorisation under the Payment and Settlement Systems Act, 2007 (PSS Act) The NUE shall be a Company authorised by Reserve Bank of India (RBI) under Section 4 of the PSS Act, 2007. It shall be gover

All Primary (Urban) Co-operative Banks Dear Sir / Madam, Limits on exposure to single and group borrowers/parties and large exposures and Revision in the target for priority sector lending – UCBs Please refer to our circular UBD.DS. Cir.No.44/13.05.00/2004-05 dated April 15, 2005, in terms of which primary (urban) co-operative banks (UCBs) were permitted to have exposures up to 15% and 40% of their capital funds to a single borrower and a group of borrowers, respectiv

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

I. Introduction The Reserve Bank had issued the Guidelines for Licensing of “Small Finance Banks” in the Private Sector on November 27, 2014. The process of licensing culminated in granting in-principle approval to ten applicants and they have since established the banks. It was notified in these Guidelines that after gaining experience in dealing with these banks, the Reserve Bank will consider ‘on tap’ licensing of these banks. After a review of the performance of t

1. Background (i) Pursuant to The Banking Laws (Amendment) Act, 2012, Section 26A has been inserted in the Banking Regulation Act, 1949 that empowers the Reserve Bank to establish a fund called Depositor Education and Awareness Fund (Fund). RBI has notified the Depositor Education and Awareness Fund Scheme, 2014 (Scheme) in the Official Gazette on May 24, 2014. (ii) The Fund has been created and all banks have been advised to transfer the balances in inoperative depos

I. Introduction The Reserve Bank had issued the Guidelines for Licensing of “Small Finance Banks” in the Private Sector on November 27, 2014. The process of licensing culminated in granting in-principle approval to ten applicants and they have since established the banks. It was notified in these Guidelines that after gaining experience in dealing with these banks, the Reserve Bank will consider ‘on tap’ licensing of these banks. After a review of the performance of t

Draft Guidelines All Non-Banking Financial Companies (NBFCs) including Core Investment Companies (CICs) Madam/ Sir, Liquidity Risk Management Framework for Non-Banking Financial companies and Core Investment Companies – Draft Guidelines for public comments Please refer to paragraph 107 and paragraph 94 of Master Direction - Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016, and

FINANCIAL MARKETS REGULATION DEPARTMENT Notification No. FMRD.DIRD.XX /2019 dated April XX, 2019 Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019 The Reserve Bank of India (hereinafter called the Reserve Bank) having considered it necessary in public interest and to regulate the financial system of the country to its advantage, in exercise of the powers conferred under section 45W of the Reserve Bank of India Act, 1934 (RBI Act) and of all the pow