We at Finakon track the regulatory changes. We also use AI to create a summary. We are providing a quick overview of the RBI circulars on a weekly basis on our website. The summary is neither exhaustive nor comprehensive. For accurate information, users shall refer to the original circular of the regulator. Finakon shall not be responsible for inferences drawn based on the summary provided.
RBI Allows UCBs to Invest in IDPIC for Membership
The Reserve Bank of India (RBI) has amended the investment guidelines for Urban Co-operative Banks (UCBs) to permit investment in equity shares of the Indian Digital Payment Intelligence Corporation (IDPIC) for acquiring membership.
IDPIC is established as the central digital payment fraud intelligence platform.
The amendment is effective from the date of issue.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13691
RBI Introduces Half-Yearly CIMS Reporting for Natural Calamity Relief Measures
The Reserve Bank of India (RBI) has revised the reporting framework for relief measures provided by Regulated Entities (REs) in areas affected by natural calamities.
With effect from July 1, 2026, REs are required to submit details of relief measures through the Centralised Information Management System (CIMS) portal on a half-yearly basis, using the revised reporting format.
The return must be submitted within 30 days from the end of each half-year:
- By October 30 – for the half-year ending September 30.
- By April 30 – for the half-year ending March 31.
REs must ensure that the information submitted is accurate, complete and duly validated, with appropriate internal processes for timely collection, verification and submission.
The existing monthly return applicable to Scheduled Commercial Banks for reporting relief measures in natural calamity-affected areas has been discontinued from July 1, 2026.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13692
RBI Discontinues Reporting Requirements for Rupee Accounts of Non-Resident Banks
The Reserve Bank of India (RBI) has dispensed with two reporting requirements for Authorised Dealer (AD) banks, with immediate effect.
AD banks are no longer required to:
- Submit an annual list of their offices/branches maintaining Rupee accounts of non-resident banks to RBI.
- Report temporary overdrawals by overseas branches/correspondents beyond the permissible limit if such overdrawals are not adjusted within five days.
The revised directions have been issued under the Foreign Exchange Management Act, 1999 (FEMA) and are effective immediately.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13693
