The Reserve Bank on Tuesday deferred applicability of limits on non-centrally cleared derivatives exposures for banks till September-end.
The central bank announced the changes in a notification to banks as part of the large exposures framework.
“On a review it has been decided that non-centrally cleared derivatives exposures will continue to be outside the purview of exposure limits till September 30, 2021,” the RBI said. The RBI had come out with the large exposures framework a year ago.
Meanwhile, the RBI also amended its master directions on know your customer (KYC) guidelines for banks, dealing with the procedure on implementation of Section 51(A) of the Unlawful Activities Prevention Act (UAPA).
The RBI said the Ministry of Home Affairs (MHA) issued a revised order dated February 2 in supersession of the earlier order dated March 14, 2019.
“In line with the revised order dated February 2, 2021, issued by the MHA, Sections 52 and 54 of the Master Direction on KYC dated February 25, 2016, are amended,” the RBI said.
Section 54 of the master direction has been amended to say that the “list of nodal officers for UAPA is available on the website of Ministry of Home Affairs”, the RBI said.
All the changes in the master direction are applicable with immediate effect, it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
