Banks seek RBI nod to use new rules for old trade mismatches

Banks want RBI approval to apply new rules for closing old trade deals. These unsettled transactions have accumulated to nearly one lakh crore rupees over time. New regulations, effective October 1, 2026, will empower banks to resolve these cases. This move aims to prevent exporters from facing caution listing for past unsettled trades. RBI deputy governor Rohit Jain will meet bank CEOs this week to discuss the matter.

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9IyDKYE
via IFTTT

Comments

Post a Comment

Popular posts from this blog

India's Paytm Payments Bank granted status upgrade

Image
Paytm Payments Bank, a niche bank that cannot lend on its own, had more than 64 million savings accounts and over 52 billion Indian rupees ($688.5 million) deposits, including savings accounts, current accounts and fixed deposits with partner banks at the end of March this year. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3pJr1JN via IFTTT
Read more