The highlights of the current issue are:
- Exposure norm/other restrictions for Urban Cooperative Banks (UCBs)
- Re-appointment and appointment of statutory auditors of central and state co-operative banks
- Norms for credit and investment concentration and credit risk transfer
- Revision to the Master Direction on KYC
- Enhanced bulk deposit limit for Urban Co-op banks in T3 and T4
- Risk management and inter-bank transactions: Mitigating foreign exchange risks
- RBI revises guidelines on inactive accounts and unclaimed deposits in banks
- Dissenting creditor entitled to an amount equivalent to the security interest under Section 30(2)(b) of the Insolvency Bankruptcy Code, 2016.
- Bank has no jurisdiction to hold a foreign passport, OCI as security beyond 15 days.
- Banks cannot charge exorbitant interest rates without proper justification.
- Specimen signature stored by banks can be produced as evidence for dispute in genuineness of signature on cheque.