1. Liquidity Adjustment Facility – Repo and Reverse Repo Rates
It has been decided to reduce the Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 7.50 per cent to 7.25 per cent with immediate effect. Consequent to the change in the Repo rate, the Reverse Repo rate under the LAF will stand adjusted to 6.25 per cent with immediate effect. All other terms and conditions of the current LAF Scheme will remain unchanged.
Reserve Bank of India has issued a Master Circular through its Notification -RBI/2015-16/12 DNBR (PD) CC.No.053/03.10.119/2015-16 dated July 01, 2015 with regards to the following:
- Extent of the Directions
- Constitution of Committees of the Board – Audit Committee, Nomination Committee & Risk Management Committee
- Fit and Proper Criteria
- Disclosure and transparency
- Rotation of partners of the Statutory Auditors Audit Firm
- Framing of Internal Guidelines