Page-2 of Banking Current Affairs

RBI Eases Closure Rules for District Central Co-operative Banks

October 31, 2023

The Reserve Bank of India (RBI) has announced a significant change in its regulations, allowing District Central Co-operative Banks (DCCBs) to close un-remunerative branches without seeking prior permission from the central bank. However, DCCBs will need approval from the Registrar ..

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RBI Mandates Minimum Two Whole-Time Directors for Indian Banks

October 26, 2023

The Reserve Bank of India (RBI) has introduced a crucial requirement for Indian banks, stating that they must now have a minimum of two whole-time directors (WTDs) on their boards. This mandate extends to the Managing Director and Chief Executive ..

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G20 Expert Panel’s Recommendations on Reforming MDBs

October 20, 2023

A G20 expert panel dedicated to strengthening Multilateral Development Banks (MDBs) has urged these institutions to pivot from financing individual projects to prioritizing sectoral programs aligned with long-term transformation plans proposed by national governments. This strategic shift aims to enhance ..

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RBI Forms Working Group for Credit Loss-Based Provisioning Transition

October 5, 2023

The Reserve Bank of India (RBI) has established a nine-member working group to propose a framework for a smoother transition to the expected credit loss-based provisioning system (ECL). The group, led by R. Narayanaswamy, a former professor of IIM Bangalore, ..

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SEBI to Implement Centralized KYC Reporting for Deceased Investors

October 4, 2023

The Securities and Exchange Board of India (Sebi) has unveiled a new framework aimed at streamlining the process of reporting and verification in the event of an investor’s demise. This initiative introduces a centralized mechanism managed by the KYC Registration ..

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RBI’s Monetary Policy: Repo Rate Unlikely to be Changed

October 3, 2023

The Reserve Bank of India’s (RBI) upcoming Monetary Policy Committee (MPC) meeting, scheduled from October 4 to 6, is expected to maintain the repo rate at 6.5 percent for the fourth consecutive time. The decision is driven by concerns about ..

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Sebi Enhances Transparency in Listing Rules for Non-Convertible Debt Securities

September 22, 2023

The Securities and Exchange Board of India (Sebi) has made significant amendments to the rules governing the listing of non-convertible debt securities issued by listed entities. These changes, which come into effect on January 1, 2024, are designed to bolster ..

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RBI Proposes Transparent Mechanism for Declaring Wilful Defaulters

September 22, 2023

The Reserve Bank of India (RBI) has introduced a robust and transparent mechanism for the classification of wilful defaulters, aimed at strengthening accountability and making it more challenging for defaulters to secure funding for future endeavors. This pivotal move comes ..

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RBI Directs Regulated Entities to Release Property Documents Promptly

September 15, 2023

The Reserve Bank of India (RBI) has issued directives to all Regulated Entities (REs), including banks and non-banking financial companies (NBFCs), to release original movable or immovable property documents within 30 days of full loan repayment. Lenders must also remove ..

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Global Debt as a Share of Economic Output Declined in 2022

September 14, 2023

The International Monetary Fund (IMF) reported that global debt as a share of economic output decreased for the second consecutive year in 2022, but this trend may be ending as the post-COVID growth surge wanes. According to the IMF’s Global ..

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