Sovereign Gold Bond Scheme (SGB) 2021-22- Series I/II/III/IV/V/VI

Government of India has vide its Notification No F.No4.(4)-B (W&M)/2021 dated May 12, 2021 has announced the Sovereign Gold Bond Scheme 2020-21, Series I, II, III, IV, V and VI. Under the scheme there will be a distinct series (starting from Series I) for every tranche. The terms and conditions of the issuance of the Bonds shall be…

Loan Apps: RBI Panel in Favour of Banks Ensuring Best Biz Practices

The Reserve Bank of India (RBI) has reached out to Google, the Digital Lenders Association (DLAI), fintech association FACE and several non-bank lenders for inputs on ways to regulate digital lenders, three people aware of the development said. RBI’s working group on digital lending has sought details from Google on its criteria for onboarding fintech…

RBI not Keen to Pull Banks out of PCA Framework

The Reserve Bank of India (RBI) may delay regularising struggling state-run lenders that are under the prompt corrective action (PCA) framework as it has reservations over their capital adequacy levels. The sector regulator has raised questions over the government’s bank capital infusion programme through non-interest-bearing bonds, said people with knowledge of the matter.The RBI reasons…

Exclusion of “Lakshmi Vilas Bank Ltd” from the Second Schedule to the Reserve Bank of India Act, 1934

We advise that the “Lakshmi Vilas Bank Ltd” has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from November 27, 2020 vide Notification DOR.PSBD.No.1849/16.01.067/2020-21 dated December 17, 2020, which is published in the Gazette of India (Part III – Section 4) dated January 16 – January 22,…