RBI Updates

Concurrent Audit System CoverageThe scope of work to be entrusted to concurrent auditors, coverage of

Large Exposures Framework “Large Exposures Framework (LEF)”, banks’ exposures to a single NBFC is restricted

External Benchmark Based Lending RBI instructions contained in Master Direction on Interest Rate on Advances

Usage of ATMs – Free ATM transactions – Clarifications The transactions that have failed due

Direct Benefit Transfer (DBT) Scheme – Implementation The use of Aadhaar to facilitate delivery of social

Change in Bank RateThe Bank Rate is revised downwards by 35 basis points from 6.00

Levy of foreclosure charges/pre-payment penalty on Floating Rate Loans by NBFCs Non-Banking Financial Company –

External Commercial Borrowings (ECB) Policy – Rationalisation of End-use ProvisionsECB proceeds cannot be utilised for

Exim Bank’s Government of India supported Line of Credit of USD 24.50 million to the

Permission to acquire financial asset from other Asset Reconstruction Companies (ARCs) It has been decided