Sr No

Date

Circular No

Description

1

07-06-2024

RBI/2024-25/40
DoR.SPE.REC.No.24/13.03.00/2024-2025

Amendment to Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016
The Reserve Bank of India has revised the definition of ""Bulk Deposits"" for all Scheduled Commercial Banks, Small Finance Banks, and Local Area Banks. The new definition includes single Rupee term deposits of Rupees three crore and above for these banks, and one crore and above for Local Area Banks, as applicable for Regional Rural Banks. The changes will come into effect immediately.

2

07-06-2024

RBI/2024-25/41
A.P. (DIR Series) Circular No. 09

Foreign Exchange Management (Overseas Investment) Directions, 2022 - Investments in Overseas Funds
Category-I Authorised Dealer Banks are advised to refer to Paragraph 1(ix)(e) of Foreign Exchange Management (Overseas Investment) Directions, 2022, issued by A.P. (DIR Series) Circular No.12 dated August 22, 2022. The directive states that investment in units of an investment fund overseas, regulated by the financial sector regulator in the host jurisdiction, is considered an Overseas Portfolio Investment. The directive also amends Paragraph 24(1), allowing an Indian entity or resident individual to make investments in units or other instruments issued by an investment fund or vehicle set up in an IFSC, subject to limits. The directives are issued under Section 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and are without prejudice to any other law.

3

11-06-2024

RBI/2024-2025/43
FED Circular No. 11

International Trade Settlement in Indian Rupees (INR) – Opening of additional Current Account for settlement of trade transactions
AD Category-I banks are invited to FED Circular No. 08 dated November 17, 2023, which permits them to open an additional special current account for export transactions. The facility may be extended for both export and import transactions. The circular will be made available to constituents.

4

11-06-2024

RBI/2024-2025/42
A.P. (DIR Series) Circular No. 10

Export-Import Bank of India (Exim Bank)’s Government of India-supported Line of Credit of USD 23.37 mn to the Government of the Co-operative Republic of Guyana (GO-GUY), for procurement of two Hindustan 228-201 aircraft from Hindustan Aeronautics Ltd.
The Export-Import Bank of India (Exim Bank) has agreed to provide a Government of India-supported Line of Credit of USD 23.37 million to the Government of the Co-operative Republic of Guyana (GO-GUY) for the procurement of two Hindustan 228-201 aircraft from Hindustan Aeronautics Ltd. The agreement, effective from April 8, 2024, allows export of eligible goods and services from India, subject to eligibility under the Government of India's Foreign Trade Policy. The Exim Bank will finance the purchase of goods, works, and services from India, with the remaining 25% procured from outside India. The agreement is effective from April 8, 2024, and the last disbursement date is 48 months after the project's completion date.

5

21-06-2024

RBI/2024-25/44
FIDD.CO.PSD.BC.No.7/04.09.01/2024-25

Priority Sector Lending – Amendments to the Master Directions
The Master Directions on Priority Sector Lending (PSL) have been updated to reflect changes in the credit flow in districts. The lists of districts with high and low PSL credit have been updated, with a higher weight assigned to incremental priority sector credit in districts with lower credit flow. The definition of Micro, Small & Medium Enterprises (MSMEs) has been re-evaluated. The monitoring of priority sector lending targets has been revised to include quarterly and annual reporting of PSL data by Central Banks (UCBs) to the Reserve Bank of India (RBI). The relevant amendments are detailed in the Annex and the Master Directions and FAQs on the Bank's website have been updated accordingly.