RBI proposes lending/borrowing in government securities to increase participation
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- By Chetan Kulasri
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- Last Updated on 9 February, 2023
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Press Release 2022-2023/1681, Dated 08.02.2023
The RBI has proposed to permit the lending & borrowing of Govt. securities to facilitate wider participation in the securities lending market by providing investors with an avenue to deploy idle securities and enhance portfolio returns.
Further, RBI has decided that any penalty for delay/default in servicing of the loan or any other non-compliance of material terms and conditions of the loan contract by the borrower shall be in the form of ‘penal charges’ in a reasonable and transparent manner and shall not be levied in the form of ‘penal interest’.
RBI extends UPI for inbound travellers to India. An enhancement has recently been made to provide UPI access to non-resident Indians who have international mobile numbers linked to their NRE/NRO accounts. Also, QR Code based Coin Vending Machine (QCVM) is to be introduced. The QCVM is a cashless coin dispensation machine which would dispense coins against debit to the customer’s bank account using Unified Payments Interface (UPI).
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