RBI defers limits on non-centrally cleared derivative exposures for banks

The Reserve Financial institution on Tuesday deferred applicability of limits on non-centrally cleared derivatives exposures for banks until September-end.

The central financial institution introduced the modifications in a notification to banks as a part of the big exposures framework.

“On a evaluate it has been determined that non-centrally cleared derivatives exposures will proceed to be outdoors the purview of publicity limits until September 30, 2021,” the RBI mentioned. The RBI had come out with the big exposures framework a yr in the past.

In the meantime, the RBI additionally amended its grasp instructions on know your buyer (KYC) tips for banks, coping with the process on implementation of Part 51(A) of the Illegal Actions Prevention Act (UAPA).

The RBI mentioned the Ministry of Residence Affairs (MHA) issued a revised order dated February 2 in supersession of the sooner order dated March 14, 2019.

“According to the revised order dated February 2, 2021, issued by the MHA, Sections 52 and 54 of the Grasp Course on KYC dated February 25, 2016, are amended,” the RBI mentioned.

Part 54 of the grasp path has been amended to say that the “checklist of nodal officers for UAPA is on the market on the web site of Ministry of Residence Affairs”, the RBI mentioned.

All of the modifications within the grasp path are relevant with speedy impact, it mentioned.(Solely the headline and film of this report could have been reworked by the Enterprise Normal workers; the remainder of the content material is auto-generated from a syndicated feed.)

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