One-day bad loan recognition norms
Despite incessant demand from a section in the finance ministry, corporates, as well as banks for some leniency in the February 12, 2018, circular that radically changed the bad loan recognition norms, the Das ruled out any changes. "At the moment, there is no proposal to modify the February 12 circular," Das said.
The RBI on Thursday decided to raise the criteria for 'bulk deposits' for banks to Rs 2 crore from the current Rs 1 crore, to provide more operational freedom to lenders to raise funds. Banks have been given discretion to offer differential rate of interest on the bulk deposits as per their requirements and asset-liability management projections.
In its first comments on the Chanda Kochhar affair involving allegations impropriety while heading ICICI Bank, the Reserve Bank said it is for the law enforcement agencies to take an action in the case. The role of the regulator is limited to looking at the violations of its regulations by individuals or groups, and act on the same, governor Shaktikanta Das said. "If there are certain things which require investigation, that is in the domain of the investigating agencies and it's for them to take further action," he told reporters.