Sun Jun 26 2022
🛑RBI IN NEWS MAY 2022🛑
❇️RBI issues guidelines on compensation of Key Managerial Personnel (KMPs) & Senior
Management in NBFC and modifies norms for Lending Institutions (LIs) on Short Term Crop Loan
Scheme.
❇️As per the RBI’s Report on Currency and Finance (RCF) for the year 2021-22, stated that India’s
feasible range for the medium-term steady state GDP (Gross Domestic Product) growth is 6.5-8.5%.
❇️Highlights of RBI’s Monetary Policy Committee Off-Cycle Meeting
• The meeting saw the rise in policy repo rate under the liquidity adjustment facility (LAF) by
40 basis points to 4.40%.
❇️RBI issued a No-Objection Certificate (NoC) with conditions to the proposal for the voluntary merger
of Equitas Holdings Limited (EHL) and Equitas Small Finance Bank (ESFBL), a subsidiary of Equitas
Holdings Limited.
❇️RBI extended the validity of its Directions for two co-operative banks: The Laxmi Co-operative
Bank Limited in Solapur, Maharashtra for three months and Sri Guru Raghavendra Sahakara Bank
Niyamitha in Bengaluru, Karnataka for six months.
❇️RBI permitted commercial banks to continue providing credit facility to NBFCs (Non-Banking
Financial Companies) for the purpose of on-lending to certain priority sectors.