RBI proposes lending/borrowing in government securities to increase participation
- Blog|FEMA & Banking|News|
- < 1 minute
- By Taxmann
- Last Updated on 9 February, 2023
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).
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied