The Reserve Bank of India (RBI) on October 06, 2023, issued a Statement on Developmental and Regulatory Policies.
This Statement sets out various developmental and regulatory policy measures relating to (i) Regulation (ii) Payments Systems and (iii) Consumer Protection.
The following have been stated:
• Prudential Framework for Income Recognition, Asset Classification and Provisioning pertaining to Advances - Projects Under Implementation
• Credit Concentration Norms – Credit Risk Transfer
• Gold Loan – Bullet Repayment Scheme – UCBs
• Framework for recognition of SROs for Regulated Entities (REs) of Reserve Bank
• Payments Infrastructure Development Fund – Extension of Scheme and Inclusion of PM Vishwakarma Scheme beneficiaries
• Introducing new channels for Card-on-File Tokenisation
• Master Direction on Internal Ombudsman mechanism in Regulated Entities
[Press Release: 2023-2024/1053]
