The Reserve Bank of India (RBI) on June 08, 2023, issued the Statement on Developmental and Regulatory Policies related to Financial Markets, Regulation, and Payment Systems.
The following has been stated:
• Financial Markets
o Borrowing in Call and Notice Money Markets by Scheduled Commercial Banks
• Regulation
o Widening of the Scope of Prudential Framework for Stressed Assets
o Default Loss Guarantee Arrangement in Digital Lending
o Priority Sector Lending (PSL) Targets for Primary (Urban) Cooperative Banks (UCBs)
o Rationalisation of Licensing Framework for Authorised Persons (Aps) under Foreign Exchange Management Act (FEMA), 1999
• Payments Systems
o Expanding the Scope and Reach of e-RUPI Vouchers
o Streamlining Bharat Bill Payment System Processes and membership criteria
o Internationalising Issuance and Acceptance of RuPay Cards
[Press Release: 2023-2024/365]
