Reserve Bank of India (RBI) on Wednesday announced that it will issue draft guidelines on penal charges on advances. Reading the Statement on Developmental and Regulatory Policies, RBI Governor Shaktikanta Das said the move is aimed at transparency in the system.
The guidelines will be issued on three areas: Broad framework for acceptance of green deposits, disclosure framework on climate related financial risks and guidance on climate scenario analysis and stress testing.
The Governor also announced that the scope of TReDS platform will be expanded to provide insurance facility for invoice financing.
Das announced the central bank’s decision to extend the UPI facilities to inbound travellers to India
Also, QR-code based coin vending machines will be launched in 12 cities on a pilot basis.