• AK & Partners

AKP Banking & Finance Digest- January 17, 2022

Updated: Sep 22

Read this week in our update- RBI releases Discussion Paper on Prudential Norms for Classification, Valuation and Operations of Investment Portfolio of Commercial Banks; 28th Meeting of the FSDC Sub-Committee and multiple NFBCs and HFCs surrender license

Highlights of the Week:
Nine Non-Banking Financial Companies (including one Housing Finance Company) surrender their Certificate of Registration
RBI releases Discussion Paper on Prudential Norms for Classification, Valuation and Operations of Investment Portfolio of Commercial Banks
28th Meeting of the FSDC Sub-Committee over Video Conference
RBI releases Annual Report of Ombudsman Schemes, 2020-21

1.1 RBI releases Annual Report of Ombudsman Schemes, 2020-21

The Reserve Bank of India (RBI) has released the Annual Report of the Ombudsman Schemes (Annual Report) for the year 2020-21, for a period of nine-month, i.e., July 1, 2020 to March 31, 2021. The Annual Report covers the activities under the Banking Ombudsman Scheme, 2006 (BOS), the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (OSNBFC), Ombudsman Scheme for Digital Transactions, 2019 (OSDT), major developments and the way forward in the area of consumer protection.[1]


1.2 28th Meeting of the FSDC Sub-Committee over Video Conference

RBI has held a virtual meeting of the Financial Stability and Development Council (FSDC) Sub Committee (FSDC-SC) on January 13, 2022. Shri Shaktikanta Das, Governor, RBI was chairman of the meeting. FSDC-SC reviewed the major developments in the global and domestic economy as well as in various segments of the financial system and discussed the assessments of members about the scenario emerging from the third wave of the COVID-19 pandemic.[2]


1.3 RBI releases Discussion Paper on Prudential Norms for Classification, Valuation and Operations of Investment Portfolio of Commercial Banks

RBI has released the Discussion Paper on Review of Prudential Norms for Classification, Valuation and Operations of Investment Portfolio of Commercial Banks (Discussion Paper). Banks, market participants and other stakeholders have been invited to send comments on the Discussion Paper by February 15, 2022.[3]


1.4 Nine Non-Banking Financial Companies (including one Housing Finance Company) surrender their Certificate of Registration

RBI has accepted the surrender of the certificate of registration (CoR) of eight non-banking financial companies (NBFCs) and have stopped transacting business of a non-banking financial institution.[4]

Further, Indie Homefin Private Limited housing finance company has surrendered the CoR granted by National Housing Bank (NHB) and shall neither transact the business of a housing finance institution nor of a non-banking financial institution with effect from November 23, 2021.


1.5 RBI penalizes Gayatri Co-operative Urban Bank Ltd., Jagtial, Telangana

RBI has imposed INR 1 (one) lakh monetary penalty on Gayatri Co-operative Urban Bank Ltd., Jagtial, Telangana[1] for contravention of/ non-compliance with provisions of Section 9 read with Section 56 Banking Regulation Act, 1949 and certain provisions of the directions issued by RBI contained in the Master Circular on Exposure Norms and Statutory / Other Restrictions – UCBs.


1.6 RBI extends directions to banks

RBI has extended the directions issued to:

Name of the Bank

Extension from

Extension till

Independence Co-operative Bank Ltd., Nashik, Maharashtra[6]

January 11, 2022

March 10, 2022

Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka[7]

January 11, 2022

March 10, 2022

City Co-operative Bank Limited, Mumbai[8]

January 17, 2022

April 16, 2022

[1] Press Release: 2021-2022/1533, Reserve Bank of India, January 12, 2022 [2] Press Release: 2021-2022/1538, Reserve Bank of India, January 13, 2022 [3] Press Release: 2021-2022/1548, Reserve Bank of India, January 14, 2022 [4] Press Release: 2021-2022/1539, Reserve Bank of India, January 13, 2022

[5] Press Release: 2021-2022/1520, Reserve Bank of India, January 10, 2022

[6] Press Release: 2021-2022/1519, Reserve Bank of India, January 10, 2022

[7] Press Release: 2021-2022/1524, Reserve Bank of India, January 11, 2022

[8] Press Release: 2021-2022/1553, Reserve Bank of India, January 17, 2022

30 views0 comments

Recent Posts

See All

1. INDIA 1.1 RBI releases Statement on Developmental and Regulatory Policies The Reserve Bank of India (RBI) has released the Statement on Developmental and Regulatory Policies. Under the policy measu

INDIA 1.1. RBI announces rate of interest on Government of India Floating Rate Bond 2033 RBI has announced the rate of interest on Government of India Floating Rate Bond 2033 (“GOI FRB 2033”) which sh