Governance must be priority for banks, financial entities: Das financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
New LCR guidelines soon: RBI financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
The central bank modified the norms to standardise the filing of supervisory returns by banks and NBFCs to bring clarity, brevity and harmonisation to the instructions issued to various supervised entities for return submission.
The Master Direction provides a broader framework to understand the purpose of the returns and harmonises the timelines for their submission, RBI said in a release.
The move will help reduce the burden of compliance on the regulated entities based on the recommendations of the Regulations Review Authority (RRA 2.0) and an Internal Working Group of RBI.