RBI clarification on PRAVAAH
Regulated Entities are advised to use PRAVAAH for submitting applications for regulatory authorisations.
Assam Declares New Public Holidays for Elections
Assam govt declares holidays on May 2 & 7 for Panchayat polls. Offices, schools, banks, and tea gardens in polling areas will remain closed.
RBI amends Master Directions on compounding of contraventions
The amendment provides that Subject to satisfaction of the compounding authority, based on the nature of contravention, exceptional circumstances/ facts involved in case, and in wider public interest, the maximum compounding amount imposed may be capped at INR 2,00,000/- for contravention of each regulation/ rule .
RBI Circular – Migration to ‘.bank.in’ domain
All banks are advised to commence the migration of their existing domains to the ‘.bank.in’ domain and complete the process at the earliest and in any case, not later than October 31, 2025.
RBI clarification on deposit accounts of minors
Minors of any age may be allowed to open and operate savings and term deposit accounts through his/ her natural or legal guardian. They may also be allowed to open such accounts with mother as guardian..
Amendments to Liquidity Coverage Ratio (LCR) Framework
Final guidelines also rationalise the composition of wholesale funding from ‘other legal entities’.
Coaching centres to strictly adhere to Consumer Protection Act
Guidelines prohibit coaching centres from making false or misleading claims/advertisements to promote their services and from engaging in deceptive or unfair practices.
Master Direction – Deposits and Accounts
The present amendment in this Master Direction is aimed at consolidating the directions pertaining to Vostro accounts of non-resident banks.
Banking Laws Amendment Act 2025
The amendment provides that the State Bank shall transfer to the Investor Education and Protection Fund any money which remains unpaid or unclaimed for a period of seven years from the date of its transfer in the Unpaid Dividend Account
Guidelines for Implementation of Countercyclical Capital Buffer (CCCB)
Introduced under the Basel III framework, CCCB aims to protect the banking sector and the broader economy from systemic risks arising due to cyclical economic trends.
