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Monetary policy: UCB gold loan limit, CoF tokenisation facility, and more

RBI has allowed NBFCs in the middle and base layer to offset their exposures with eligible credit risk transfer instruments

Photo: Bloomberg

Photo: Bloomberg

Abhijit Lele Mumbai

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UCB gold loan: RBI doubles limit to Rs 4 lakh

The Reserve Bank of India (RBI) on Friday announced an increase in the monetary ceiling of gold loans that can be granted under the bullet repayment scheme from Rs 2 lakh to Rs 4 lakh for urban co-operative banks (UCB) who have met the overall PSL target and sub-targets as of March 31.

NBFCs in middle, base layer can offset risks

The Reserve Bank of India has allowed non-banking financial companies (NBFCs) in the middle and base layer to offset their exposures with eligible credit risk transfer instruments. Earlier, only NBFCs in the upper layer were allowed to make such offsets.
 

CoF tokenisation facility at issuer bank level  

The Reserve Bank of India has proposed to introduce card-on-file (CoF) token creation facilities directly at the issuer bank level. At present, CoF tokens can only be created through merchant’s applications or on their web page. The measure will enhance convenience for cardholders.

PM Vishwakarma beneficiaries under PIDF scheme

The RBI has proposed to extend the Payments Infrastructure Development Fund (PIDF) scheme by two years up to December 31, 2025 and has proposed to include beneficiaries of PM Vishwakarma Scheme in all centres under it.

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First Published: Oct 06 2023 | 11:41 PM IST

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