1 / 7The Reserve Bank of India (RBI) announced a slew of new measures in its bi-monthly monetary policy review on August 10, 2023. According to RBI Governor Shaktikanta Das, these measures aim to enhance the regulatory framework and are in line with the RBI's vision of fostering inclusive and sustainable growth in the country. (Image PTI)
2 / 7IDF-NBFCs Framework: The regulatory framework for NBFC – Infrastructure Debt Funds (IDF-NBFCs) has been revised to remove the sponsor requirement, allow financing ToT projects, enable access to ECBs, and make tri-partite agreement optional for PPP projects. (Image: Shutterstock)
3 / 7Interest Rate Reset Transparency: A conduct framework has been proposed for all REs to address the issues of borrowers regarding the resetting of tenor and/or EMI of floating interest loans. The framework requires lenders to communicate clearly with the borrowers about the changes. (Image: Shutterstock)
4 / 7Supervisory Data Submission: A single Master Direction has been proposed to consolidate and harmonise all the existing instructions on the submission of data by supervised entities. This will be a single point of reference for all supervised entities.
5 / 7Conversational Payments in UPI: A new feature has been proposed to launch on UPI, which will allow users to interact with an AI-powered system to initiate and complete transactions in a safe and secure environment. This feature will be available on both smartphones and feature phones and will support Hindi and English languages initially. (Image: Shutterstock)
6 / 7Offline Payments in UPI: A new facility has been proposed to enable offline transactions using NFC technology on UPI. The transaction limits for small-value digital payments have been increased from Rs 200 to Rs 500 for offline UPI. (Image: Pixabay)
7 / 7Public Tech Platform for Credit: A digital Public Tech Platform is being developed by the RBIH, which will facilitate the seamless flow of digital information to lenders and enable the delivery of frictionless credit. The platform will be rolled out as a pilot project in a calibrated manner. (Image: rbihub.in)
