Category: RBI News

Ajit Prasad
Director   

Press Release: 2021-2022/841

India is the current Chair of the BRICS. In the Second BRICS Finance Ministers’ and Central Bank Governors (FMCBG) Meeting held on August 26, 2021, the Reserve Bank of India tabled the Report on Digital Financial Inclusion in BRICS; the e-Booklet on BRICS Information Security Regulations; and the Compendium of BRICS Best Practices on Information Security Risks: Supervision and Control, which were prepared by the respective teams of the BRICS central banks. The BRICS FMCBG approved these documents during this meeting.

The Report on Digital Financial Inclusion in BRICS provides a glimpse of the initiatives, innovations and reforms undertaken in the BRICS countries in the area of financial inclusion by leveraging digital technology tools and by mapping them against select G-20 High-Level Policy Guidelines on digital financial inclusion.

The e-booklet on Information Security Regulations and the Compendium of BRICS Best Practices on Information Security Risks cover information security regulations and best practices across the BRICS jurisdictions, with an objective of strengthening the cyber incidents management systems.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/839

Ajit Prasad
Director   

Press Release: 2021-2022/836

In the underwriting auctions conducted on September 09, 2021 for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

Ajit Prasad
Director   

Press Release: 2021-2022/835

The performance of the UCO Bank, currently under the Prompt Corrective Action Framework (PCAF) of RBI, was reviewed by the Board for Financial Supervision. It was noted that as per its published results for the year ended March 31, 2021, the bank is not in the breach of the PCA parameters. The bank has provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, Net NPA and Leverage ratio on an ongoing basis and has apprised the RBI of the structural and systemic improvements that it has put in place which would help the bank in continuing to meet these commitments.

Taking all the above into consideration, it has been decided that UCO Bank is taken out of the PCA restrictions subject to certain conditions and continuous monitoring.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/833

The Reserve Bank of India issued Directions to The Adoor Co-operative Urban Bank Ltd, Adoor, Kerala under Section 35 A read with Section 56 of the BR Act 1949 (AACS), vide Directive DCBS.CO.PCC D-4/12.26.004/2018-19 dated November 02, 2018, from close of business on November 09, 2018 for a period of six months, which were extended from time to time, last being up to September 09, 2021 vide the Directive DOR.MON/ D-14/12.26.004/2021-22 dated June 08, 2021.

The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the aforesaid Directions. Accordingly, vide the Directive DOR.MON/D-33/12.26.004/2021-22 dated September 07, 2021 in exercise of powers vested in it under sub-section (1) of Section 35 A read with section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India hereby directs that the Directive DCBS.CO. PCC. D-4/12.26.004/2018-19 dated November 02, 2018, issued to The Adoor Co-operative Urban Bank Limited, Adoor, Kerala, the validity of which was last extended up to September 09, 2021 shall continue to apply to the bank for a further period of three months, from September 10, 2021 to December 09, 2021, subject to review. Other terms and conditions of the Directive under reference, as modified from time to time, shall remain unchanged.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/832