RBI extends timeline for relaxation on borrowing limit of scheduled banks till September 30, 2020

Jun 29, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Reserve Bank of India (RBI) on June 26, 2020 has decided to extend the timeline for the relaxation on borrowing limit of scheduled banks under the MSF scheme form June 30, 2020 to September 30, 2020. The borrowing limit of scheduled banks under the MSF scheme was increased from 2 % to 3% of their Net Demand and Time Liabilities (NDTL) outstanding at the end of the second preceding fortnight with immediate effect vide RBI Notification No.  DOR.No.Ret.BC.52/12.01.001/2019-20 dated March 27, 2020.

[RBI Notification No. DOR.No.Ret.BC.77/12.02.001/2019-20]

 


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