Delhi High Court: Assets From Illegal Cricket Betting are Proceeds of Crime Attachable by ED  ||  Delhi HC: Extension to Issue SCN U/S 110 of The Customs Act Must be Granted Before Six Months Expire  ||  Delhi HC: Statements to Customs under Section 108 During Goods Seizure Aren't Admissible As Evidence  ||  Delhi HC: Oral Waiver of a Show-Cause Notice is Invalid And Continued Detention of Goods is Unlawful  ||  Supreme Court: Letter of Intent is a 'Promise in Embryo', Rights Arise Only After Conditions Met  ||  SC Auction Sale under Order XXI Rule 90 CPC Cannot Be Challenged on Pre-Proclamation Grounds  ||  NCLT Kochi: CoC May Invite Fresh Bids, Regulations Only Restrict Alteration of Existing Bids  ||  Chhattisgarh HC: Father Must Provide Maintenance and Marriage Expenses to Unmarried Adult Daughter  ||  Delhi HC Rules That ‘Hermès’ and the 3D Shape of its ‘Birkin’ Bag are Well-Known Trademarks in India  ||  Kerala HC: Arrest is Illegal if Accused isn’t Produced in 24 Hours and Rearrest From Prison is Barred    

Statement on Developmental and Regulatory Policies- (Reserve Bank of India) (06 Dec 2017)

MANU/RPRL/0189/2017

Banking

Rationalisation of Merchant Discount Rate

1. In recent times, debit card transactions at 'Point of Sales' have shown significant growth. With a view to giving further fillip to acceptance of debit card payments for purchase of goods and services across a wider network of merchants, it has been decided to rationalise the framework for Merchant Discount Rate (MDR) applicable on debit card transactions based on the category of merchants. A differentiated MDR for asset-light acceptance infrastructure and a cap on absolute amount of MDR per transaction will also be prescribed. The revised MDR aims at achieving the twin objectives of increased usage of debit cards and ensuring sustainability of the business for the entities involved. The revised instructions for MDR on debit card transactions will be issued today. Allowing Overseas Branches/Subsidiaries of Indian Banks to Refinance ECBs.

2. Currently Indian corporates are permitted to refinance their existing External Commercial Borrowings (ECBs) at a lower all-in-cost. The overseas branches/subsidiaries of Indian banks are, however, not permitted to extend such refinance. In order to provide a level playing field, it has been decided, in consultation with the Government, to permit the overseas branches/subsidiaries of Indian banks to refinance ECBs of AAA rated corporates as well as Navratna and Maharatna PSUs, by raising fresh ECBs. In this regard, the revised guidelines will be issued within a week.

Report of the Working Group on Hedging of Commodity Price Risk by Residents - Implementation

3. The report of the Working Group on Hedging of Commodity Price Risk by Residents (Chairman: Shri Chandan Sinha) was placed on the Reserve Bank's website for public comments on November 16, 2017. The major recommendations of the Group include the creation of a 'Positive List' of commodities that can be hedged, and enabling inventory hedging, price fix hedging as well as hedging of the currency risk resulting from overseas commodity derivatives. The Reserve Bank shall examine the Group's recommendations and the public feedback. A circular with revised directions will be issued by January 15, 2018.

Tags : STATEMENT   REGULATORY POLICIES   DISCOUNT RATE  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved