May-22

THE PROBE NEWSLETTER

A Little About
Companies In India
We present below facts about companies in India. The
information is based on Probe analysis and estimates.
This analysis is as of end May-22.

Number of Companies & LLP Incorporated

May-22,
81,966 Universe of Registered
240k
Companies and LLPs
200k
l There are 17,14,422 active companies (16,99,806
160k
companies as on last month) out of 26,16,425
120k companies ever registered.
80k
l 81.4% of the companies registered between 2014
40k and 2018 are active now.
k

Year # Active Co's # Inactive Co's

Source: Probe Data and analytics

Probe New Company and LLP Incorporations Index

Probe New Company & LLP Incoporation Index
800
May-22,
700 674 l The Probe New Company and LLP Incorporations
600
(PNCLI) Index was constructed using Dec-00 as the
base year.
500

400 l Probe index value in May-22, stood at 674 with

300
1,76,012 companies and 36,434 LLP registered in
the prior 12 months.
200

100 l In the month of May-22, 16,514 companies and 26

0 LLPs were registered with MCA.
Dec-00
Dec-01
Dec-02
Dec-03
Dec-04
Dec-05
Dec-06
Dec-07
Dec-08
Dec-09
Dec-10
Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Dec-16
Dec-17
Dec-18
Dec-19
Dec-20
Dec-21

Source: Probe Data and analytics

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PIN Code Spread (New Incorporations)

PIN Code Spread (New Incorporation)
No. of % of
PIN Code Area / District
Companies Total l 16,540 Companies got incorporated with MCA
201301 Gautam Buddha Nagar 197 1.2% under 4,409 PIN Codes in the last month.
122001 Gurugram 124 0.7%
110092 East - Delhi 134 0.8% l Top 10 PIN Codes counts for 5.5% of total new
110059 West - Delhi 75 0.5% incorporations with 910 companies.
110085 North West - Delhi 72 0.4%
431001 Aurangabad 58 0.4% l During the month, 3,002 companies got
500072 Medchal Malkajgiri 54 0.3% incorporated in North region of India covering 5
226010 Lucknow 70 0.4% States (Uttar Pradesh, Haryana, Punjab,
110034 North West - Delhi 66 0.4% Uttarakhand, Himachal Pradesh).
492001 Raipur 60 0.4%
Rest of India 15,630 94.5%
Total 16,540 100.0%
Source: Probe Data and analytics

PIN Code Spread (All Companies)

PIN Code Spread
No. of % of
PIN Code Area / District
Companies Total
700001 Kolkata 22,921 1.3%
110092 East - Delhi 19,732 1.2% l 17,14,422 companies were registered in 21,166 PIN
201301 Gautam Buddha Nagar 13,351 0.8% Codes.
122001 Gurugram 11,433 0.7%
110019 South East - Delhi 9,339 0.5% l Delhi area has maximum number of active
110085 North West - Delhi 8,762 0.5% companies with 2,53,878 count.
110034 North West - Delhi 8,565 0.5%
110001 New Delhi 8,530 0.5%
700007 Kolkata 8,332 0.5%
110017 South - Delhi 7,473 0.4%
Rest of India 15,95,984 93.1%
Total 17,14,422 100.0%
Source: Probe Data and analytics

New Company and LLP Incorporations

25
Company and LLP

20 l There is a 4.0% Month-on-Month increase in new

registration of companies in India.
15
l As compared to May-21, 15.9% more companies
were registered in India in May-22.
10

Public & Private (Numbers in '000)

Source: Probe Data and analytics

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Company and LLP Classification

Number of Active % of
Classification
Companies total
Private Ltd Indian Non Govt Co. 13,08,056 76.3%
Public Ltd Indian Non Govt Co. 59,398 3.5%
OPC 44,873 2.6% l Companies are classified under various categories
Not for Profit Co. 35,374 2.1% as shown.
Foreign Co. 13,126 0.8%
Public Nidhi Co. 6,554 0.4% l There are 80 Govt and 6,690 Non-Govt. listed
Govt. Co. 2,081 0.1% companies in India.
Guarantee & Association 717 0.0%
Unlimited Liabilities 261 0.0%
Limited Liability Partnership 2,43,982 14.2%
Total 17,14,422 100.0%
Source: Probe Data and analytics

Revenue Range of Companies

Number of Active % Of
Revenue Range
Companies Total l 24,896 companies have revenue more than Rs 100
< Rs 1 cr 14,41,918 84.1% cr.
Rs 1 - 5 cr 1,08,770 6.3%
Rs 5 - 10 cr 44,830 2.6% l 16,89,526 companies have revenue up to Rs 100 cr.
Rs 10 - 50 cr 75,213 4.4%
Rs 50 - 100 cr 18,795 1.1%
Rs 100 - 1000 cr 21,979 1.3% l There are 43,126 companies in India having
Rs 1000 - 5000 cr 2,352 0.1% revenue between Rs 50 cr and Rs 5,000 cr.
> Rs 5000 cr 565 0.0%
Total 17,14,422 100.0%
Source: Probe Data and analytics

Nationwide Spread
Nationwide Spread
No. of Active % of
State
Companies Total l All active companies in India are classified as per
Maharashtra 3,62,588 21.2% different states as shown.
Delhi 2,51,911 14.7%
West Bengal 1,49,832 8.7% l During the month, 74.7% of new companies were
Uttar Pradesh 1,23,957 7.2% registered in major 9 States of India.
Karnataka 1,18,814 6.9%
Tamil Nadu 1,06,441 6.2% l There are 48,485 active companies in Central
Gujarat 1,00,825 5.9% region of India covering 2 States (Madhya Pradesh,
Telangana 95,780 5.6% Chattisgarh).
Haryana 58,680 3.4%
Rest of India 3,45,107 20.1%
Total 17,13,935 100.0%
Source: Probe Data and analytics

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Company wise Charge Details

1.80%
Number of Charges
2.06%
1.80%
l 2,92,584 (17.1%) active companies have secured
loan with a Bank or NBFC.
2.45% 1.60%
82.93% 17.07% l 46,345 companies have charges of more than Rs 25
cr.
1.10%

l There are 61,690 companies in India having charge

6.25% amount between Rs 5 cr and Rs 25 cr.

No Charge Upto 1 Cr 1 - 2.5 Cr 2.5 - 5 Cr

5 - 10 Cr 10 - 25 Cr 25 - 100 Cr More than 100 Cr

Source: Probe Data and analytics

120
Yearwise Charges 70
Year-wise Charges
60
100 l Rs. 38.8 cr is the average charge amount per
50
charge ID created / modified between the year
80 2019 and 2021.
40

60
30 l 42,734 charges were created / modified till date in
40
the current year 2022, with total charge amount of
20
Rs 28,26,658 cr.
20 10
l During the year 2019, average charge amount per
0 - charge was Rs 40.4 cr.

No. of Charges (In Thousands) Charge Amount (In Rs. Lacs Crore)

Source: Probe Data and analytics (Based on Probed Companies)

Charge Details (Last 12 Months)

Charge Amt No. of % of Last 12 month Charges
Charge Range
(Amt in Crores) Charges Total
Less Than 1 lakh 2.3 442 0.3% l Charges with amount more than Rs 500 cr. covered
1 lakh - 10 lakh 512.2 7,827 5.9% 65.3% portion of total charge amount.
10 lakh - 1 cr 15,034.4 37,807 28.3%
1 cr - 10 cr 1,75,128.8 46,482 34.8%
10 cr - 25 cr 2,55,406.5 16,395 12.3% l Rs 431.0 cr is the average charge amount per
25 cr - 50 cr 3,33,903.8 9,853 7.4% charge with charge amount more than Rs 50 cr.
50 cr - 100 cr 4,22,543.9 6,305 4.7%
100 cr - 500 cr 12,90,603.9 6,191 4.6%
more than 500 cr 46,84,139.4 2,348 1.8% l For charges between Rs 1 cr and Rs 25 cr, the
Total 71,77,275.3 1,33,650 100.0% average charge amount per charge ID was Rs 6.8
Source: Probe Data and analytics (Based on Probed Companies) cr.

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Statewise Charge Details

No. of Charge Amount % of State-wise Charges
State
Charges (In Lacs Crore) Total
Maharashtra 1,87,127 137.0 41.0%
Delhi 1,23,759 49.9 14.9% l Union Territories of India (9 UTs), have 1,36,016
Gujarat 59,799 23.8 7.1% charges in total amounting to Rs 52,20,241.7 cr.
Telangana 47,411 22.5 6.7%
West Bengal 62,371 19.8 5.9%
Tamil Nadu 68,752 17.4 5.2% l North East Region in India, have 7,531 charges
Karnataka 42,315 13.2 4.0% covering 7 States (Assam, Manipur, Tripura,
Uttar Pradesh 34,266 10.2 3.1% Meghalaya, Arunachal Pradesh, Nagaland,
Andhra Pradesh 16,856 8.7 2.6% Mizoram) with total charges of Rs 1,04,461.8 cr.
Haryana 20,302 8.4 2.5%
Rest of India 1,60,106 23.6 7.1%
Total 8,23,064 334 100.0%
Source: Probe Data and analytics (Based on Probed Companies)

Company wise Paid Up Capital

a) 0 - 1 lakh
9.9%
13.1%

7.6%
b) 1 - 5 lakh Paid Up Capital
c) 5 - 15 lakh
2.6%
l 88,008 (5.1%) companies have paid up capital of
6.1%
d) 15 - 50 lakh more than Rs 2 cr.
5.1% e) 50 lac - 2 cr
1.0% l 6,068 private companies have paid up capital of
1.5% f) 2 - 5 cr more than Rs 25 cr.
g) 5 - 10 cr
l There are 1,48,904 companies in India, having paid
h) More than up capital ranging between Rs 50 lakh and Rs 5 cr.
58.2% 10 cr

Source: Probe Data and analytics

State Director (No.)

% of
Total
Directorship Overview
Maharashtra 5,17,577 20.4% l Presently, there are 25,34,896 active Directors in
Delhi 2,57,304 10.2% India.
Uttar Pradesh 2,46,832 9.7%
Gujarat 1,69,994 6.7% l 65,162 of these Directors have foreign citizenship.
Karnataka 1,68,140 6.6%
Tamil Nadu 1,57,676 6.2%
West Bengal 1,50,222 5.9% l As of May-22, there are 24,972 active direcotrs in
Telangana 1,15,863 4.6% North East region of India covering 7 States
Haryana 1,13,764 4.5% (Assam, Manipur, Tripura, Meghalaya, Arunachal
Rest of India 6,37,524 25.1% Pradesh, Nagaland, Mizoram).
Total 25,34,896 100.0%
Source: Probe Data and analytics

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 RELEVANT RBI & MCA CIRCULARS

D Circ
at ula Particulars / Subject Description
e r
RBI issued a circular on Guidelines on Compensation of Key Managerial Personnel (KMP)
and Senior Management in NBFCs directed to All Non-Banking Financial Companies. While
drawing attention to the circular dated October 22, 2021, through which RBI in order to
Guidelines on
address issues arising out of excessive risk taking caused by misaligned compensation
Compensation of Key
29-Apr

packages, NBFCs were required to put in place a Board approved compensation policy .It
RBI Managerial Personnel
was also decided that the Board of NBFCs should delineate the role of various committees,
(KMP) and Senior
including Nomination and Remuneration Committee (NRC). RBI has now issued detailed
Management in NBFCs
guidelines through an annexure to this circular. The annexure contains details on
Nomination and Remuneration Committee, Principles for compensation, Guaranteed
bonus, Malus / Clawback etc.

RBI issued a circular on Review of Minimum Investment Grade Credit Ratings for Deposits
of NBFCs directed to All Deposit taking NBFCs (including deposit taking HFCs), while drawing
Review of Minimum
attention to the circular dated August 25, 2016. Through circular dated August 25, 2016, RBI
2-May

Investment Grade
RBI had advised names of approved credit rating agencies and their respective minimum
Credit Ratings for
investment grade credit rating for the purpose of accepting public deposits by NBFCs have
Deposits of NBFCs
been listed. RBI has now decided that the minimum investment grade credit rating for
deposits of NBFCs shall be ‘BBB–’ from any of the SEBI-registered Credit Rating Agencies.
Regulations Review
RBI issued a circular regarding Withdrawal of Circulars-Regulations Review Authority (RRA
Authority (RRA 2.0) –
2.0) – Interim Recommendations directed to The Registrar of Cooperative Societies (All
2-May

Interim
RBI states/ Union Territories) All Primary (Urban) Cooperative Banks, while drawing attention
Recommendations –
to the press release dated May 02, 2022. RBI has now decided to withdraw circulars listed
Withdrawal of
in the annexure.
Circulars
Regulations Review RBI issued a circular regarding Withdrawal of Circulars- Regulations Review Authority (RRA
Authority (RRA 2.0) – 2.0) – Interim Recommendations directed to All Scheduled Commercial Banks (including
2-May

Interim Regional Rural Banks), All Payments Banks, All Small Finance Banks, All Local Area Banks
RBI
Recommendations – All Authorized Dealers, All Primary (Urban) Co-operative Banks, while drawing attention
Withdrawal of to the press release dated May 02, 2022. RBI has now decided to withdraw circulars listed
Circulars in the annexure.
Regulations Review
Authority (RRA 2.0) – RBI issued a circular regarding Withdrawal of Circulars- Regulations Review Authority (RRA
2-May

Interim 2.0) – Interim Recommendations directed to All Banks having Currency Chests, while
RBI
Recommendations – drawing attention to the press release dated May 02, 2022. RBI has now decided to
Withdrawal of withdraw circulars listed in the annexure.
Circulars
Regulations Review
Authority (RRA 2.0) – RBI issued a circular regarding Withdrawal of Circulars- Regulations Review Authority (RRA
2-May

Interim 2.0) – Interim Recommendations directed to All Eligible Market Participants, while drawing
RBI
Recommendations – attention to the press release dated May 02, 2022. RBI has now decided to withdraw
Withdrawal of circulars listed in the annexure.
Circulars
RBI issued a circular on Liquidity Adjustment Facility- Change in rates directed to All
Liquidity Adjustment Facility (LAF) participants, while drawing attention to the Monetary
Liquidity Adjustment policy Statements 2022-23. RBI has now decided to increase the policy Repo rate under the
4-May

RBI Facility- Change in Liquidity Adjustment Facility (LAF) by 40 basis points from 4.00 per cent to 4.40 per cent with
rates immediate effect. Further the standing deposit facility (SDF) rate and marginal standing
facility (MSF) rate stand adjusted from 3.75 per cent to 4.15 per cent and from 4.25 per cent
to 4.65 per cent respectively, with immediate effect.

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ASBA designated RBI issued a circular on ASBA designated branches to remain open for public on May 8,
branches to remain 2022 (Sunday) to facilitate processing of applications for LIC IPO directed to All Scheduled
open for public on Commercial Banks, while drawing attention to the circular. In order to facilitate bidding for
4-May

RBI May 8, 2022 (Sunday) LIC IPO, Government of India has requested that all bank branches designated to process
to facilitate processing ASBA (Application Supported by Blocked Amount) applications. Accordingly, RBI has now
of applications for LIC decided that banks may keep all their ASBA designated branches open on May 8, 2022
IPO (Sunday) for the above purpose.

RBI issued a circular on Standing Liquidity Facility for Primary Dealers directed to All
Primary Dealers, while drawing attention to the Monetary policy Statements 2022-23 dated
Standing Liquidity May 4, 2022. In terms of the monetary policy, RBI repo rate under the Liquidity Adjustment
4-May

RBI Facility for Primary Facility (LAF) has been increased by 40 basis points to 4.40 per cent from 4.00 per cent with
Dealers immediate effect. Accordingly, the Standing Liquidity Facility provided to Primary Dealers
(PDs) (collateralised liquidity support) from the Reserve Bank would be available at the
revised repo rate of 4.40 per cent with effect from May 4, 2022.

RBI issued a circular on Change in Bank Rate directed to All Banks, while drawing attention
to the circular dated May 22, 2020. In terms of the monetary policy dated May 22, 2020, RBI
4-May

RBI Change in Bank Rate has revised the Bank Rate downwards by 40 basis points from 4.65 per cent to 4.25 per cent
with immediate effect. All penal interest rates on shortfall in reserve requirements, which
are specifically linked to the Bank Rate, also stand revised as indicated in the Annex.

RBI issued a circular on Maintenance of Cash Reserve Ratio (CRR) directed to All Banks,
while drawing attention to the circular dated May 22, 2020. In terms of the Governor’s
4-May

Maintenance of Cash
RBI Statement dated May 04, 2022, RBI has decided to increase the Cash Reserve Ratio (CRR) of
Reserve Ratio (CRR)
all banks by 50 basis points from 4.00 percent to 4.50 percent of their Net Demand and Time
Liabilities (NDTL), effective from the reporting fortnight beginning May 21, 2022.

RBI issued a circular directed to All Category – I Authorised Dealer Banks regarding the
agreement between EXIM Bank and the SBM (Mauritius) Infrastructure Development
Exim Bank's Company Ltd (SBMIDCL) for making available to the latter a Line of Credit (LoC) of USD 190
Government of India million supported by the Government of India. The LoC is for the purpose of financing its
supported additional participation through Redeemable Preference Shares in public sector entities for
Line of Credit (LoC) of implementing the ongoing Metro Express Project and other infrastructure projects in
5-May

RBI USD 190 million to the Mauritius. The Credit facility is an additional tranche to the existing Credit of USD 500 million
SBM (Mauritius) (USD Five Hundred Million) which has been extended to SBMIDCL on the terms and
Infrastructure conditions contained in the Dollar Credit Line Agreement dated May 27, 2017. The circular
Development also outlines that the agreement will be effective from April 18, 2022, and the terminal
Company Ltd utilization period is 60 months after the scheduled completion date of the project. The
circular also mentioned that no agency commission shall be payable for export under this
LoC.

RBI issued a circular on Withdrawal of Circulars based on Recommendations from

Regulations Review
Regulations Review Authority (RRA 2.0) directed to All Scheduled Commercial Banks
Authority (RRA 2.0) –
13-May

(including Regional Rural Banks), All Payments Banks, All Small Finance Banks, All Local Area
RBI Recommendations for
Banks, All Authorized Dealers, All Primary (Urban) Co-operative Banks, while drawing
Withdrawal of
attention to the Press Release dated May 13, 2022. RBI has now decided to withdraw the
Circulars
circulars as indicated in the annexure.
Regulations Review
RBI issued a circular on Withdrawal of Circulars based on Recommendations from
Authority (RRA 2.0) –
13-May

Regulations Review Authority (RRA 2.0) directed to All Scheduled Commercial Banks, All
RBI Recommendations for
Small Finance Banks All Local Area Banks, while drawing attention to the Press Release dated
Withdrawal of
May 13, 2022. RBI has now decided to withdraw the circulars as indicated in the annexure.
Circulars

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RBI issued a circular on Lending by Commercial Banks to NBFCs and Small Finance Banks
(SFBs) to NBFC-MFIs, for the purpose of on-lending to priority sectors directed to All
Scheduled Commercial Banks (Including Small Finance Banks)
(Excluding Regional Rural Banks, Urban Co-operative Banks and Local Area Banks). While
drawing attention to Master Directions on Priority Sector Lending dated September 4, 2020,
along with notifications FIDD.CO.Plan. BC.No.15/04.09.01/2021-22 dated October 8,
2021 and FIDD.CO.Plan.BC.No.10/04.09.01/2021-22 dated May 5, 2021, through which
lending by commercial banks to NBFCs and lending by Small Finance Banks (SFBs) to NBFC-
Lending by
MFIs, for the purpose of on-lending to certain priority sectors, was permitted up to March
Commercial Banks to
31, 2022. RBI has now decided to allow the above facility on an on-going basis. Accordingly,
NBFCs and Small
13-May

Bank credit to NBFCs (including Housing Finance Companies-HFC) for on-lending will be
RBI Finance Banks (SFBs)
allowed up to an overall limit of 5 percent of an individual bank’s total priority sector lending
to NBFC-MFIs, for the
in case of commercial banks. In case of SFBs (Small Finance Banks), credit to NBFC-MFIs
purpose of on-lending
(Micro Finance Institutions) and other MFIs (Societies, Trusts, etc.) which are members of
to priority sectors
RBI recognized ‘Self-Regulatory Organisation’ of the sector, will be allowed up to an overall
limit of 10 percent of an individual bank’s total priority sector lending. Further SFBs are
allowed to lend to registered NBFC-MFIs and other MFIs which have a ‘gross loan portfolio’
(GLP) of up to ₹500 crore as on March 31 of the previous financial year, for the purpose of
on-lending to priority sector. In case the GLP of the NBFC-MFIs/other MFIs exceeds the
stipulated limit at a later date, all priority sector loans created prior to exceeding the GLP
limit will continue to be classified by the SFBs as PSL till repayment/maturity, whichever is
earlier.

RBI issued a circular on Kisan Credit Card Scheme - Eligibility criteria for farmers engaged
in fisheries/ aquaculture directed to All Scheduled Commercial Banks (including Small
Finance Banks and excluding Regional Rural Banks), while drawing attention to the circular
Kisan Credit Card
dated February 04, 2019 on Kisan Credit Card (KCC) Scheme. RBI has now decided to modify
Scheme - Eligibility
18-May

the eligibility criteria for inland fisheries and aquaculture under Para 3.1.1.2 of the circular.
RBI criteria for farmers
Accordingly, the beneficiaries must own or lease any fisheries related assets such as ponds,
engaged in fisheries/
tanks, open water bodies, raceways, hatcheries, rearing units, boats, nets and such other
aquaculture
fishing gear as the case may be and possess necessary authorisation/certification as may be
applicable in respective states for fish farming and fishing related activities and for any other
state specific fisheries and allied activities.

RBI issued a circular regarding clarification on New Definition of Micro, Small and Medium
Enterprises directed to All Commercial Banks (including Small Finance Banks, Local Area
Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks, State Co-operative
Banks, District Central Co-operative Banks, All-India Financial Institutions, All Non-Banking
Financial Companies. While drawing attention to circulars FIDD.MSME &
NFS.BC.No.3/06.02.31/2020-21 dated July 2, 2020, FIDD.MSME &
New Definition of NFS.BC.No.4/06.02.31/2020-21 dated August 21, 2020 and FIDD.MSME &
19-May

Micro, Small and NFS.BC.No.16/06.02.31/2021-22 dated February 18, 2022, through which revised criteria for
RBI
Medium Enterprises - classification of Micro, Small and Medium Enterprises was advised. However, Government
Clarification of India, vide Gazette Notification S.O. 2134(E) dated May 06, 2022, has notified
amendments in the above notification on June 26, 2020. Accordingly, RBI has now clarified
that the existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar
Memorandum (UAM) of the MSMEs obtained till June 30, 2020, shall remain valid till June
30, 2022 for classification as MSMEs and the validity of documents obtained in terms of O.M.
No.12(4)/ 2017-SME dated March 8, 2017 for classification of MSMEs has been extended
upto June 30, 2022(from June 30,2020).
Government of India
19-May

guaranteed term loan RBI issued a circular on Settlement of (in INR) Government of India guaranteed term loan
RBI extended by SBI to the Government of Sri Lanka directed to All Category-I Authorised
extended by SBI to the
Government of Sri Dealer Banks. While drawing attention to Regulations 3 and 5 of Foreign Exchange

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 RELEVANT RBI & MCA CIRCULARS

Lanka- Settlement in Management (Manner of Receipt and Payment) Regulations, 2016 in terms of which export
INR / import transactions between ACU (Asian Clearing Union) member countries are to be
routed through the ACU mechanism. As per State Bank of India’s credit facility agreement
dated March 17, 2022 wherein the Government of Sri Lanka was sanctioned of USD 1000
million term loan (Government of India guaranteed) for financing purchase of essential
goods by Sri Lanka from India. RBI has now decided that such trade transactions with Sri
Lanka, falling under the said arrangement, may be settled in INR outside the ACU
mechanism. Under the arrangement, financing of export of eligible goods and services from
India, as defined under the agreement, would be allowed subject to their being eligible for
export under the Foreign Trade Policy of the Government of India and whose purchase may
be agreed to be financed by SBI under this agreement.

RBI issued a circular on Interoperable Card-less Cash Withdrawal (ICCW) at ATMs directed
to Scheduled Commercial Banks including RRBs, Urban Co-operative Banks, State Co-
operative Banks, District Central Co-operative Banks, Payment Banks, Small Finance Banks,
National Payments Corporation of India (NPCI), ATM Networks, White Label ATM Operators
(WLAOs). While drawing attention to the Statement on Development and Regulatory
Policies dated April 08, 2022, RBI has now advised that all banks, ATM networks and WLAOs
Interoperable Card-
19-May

may provide the option of ICCW at their ATMs. National Payments Corporation of India
RBI less Cash Withdrawal
(NPCI) has been advised to facilitate Unified Payments Interface (UPI) integration with all
(ICCW) at ATMs
banks and ATM networks. While UPI would be used for customer authorisation in such
transactions, settlement would be through the National Financial Switch (NFS) / ATM
networks. The on-us / off-us ICCW transactions shall be processed without levy of any
charges other than those prescribed under the circular on Interchange Fee and Customer
Charges. Further withdrawal limits for ICCW transactions shall be in-line with the limits for
regular on-us / off-us ATM withdrawals.

RBI issued a circular on Reporting of reverse repos with Reserve Bank on the bank’s
balance sheet under Reserve Bank of India (Financial Statements - Presentation and
Disclosures) Directions, 2021 directed to all commercial banks. While drawing attention
to the Reserve Bank of India (Financial Statements - Presentation and Disclosures)
Directions, 2021 regarding the reporting of reverse repo transactions by the banks on their
balance sheet, RBI has now decided to bring more clarity on the presentation of reverse
repo on the balance sheet as under:
Reserve Bank of India
(Financial Statements - • All type of reverse repos with the Reserve Bank including those under Liquidity
Presentation and Adjustment Facility shall be presented under sub-item (ii) ‘In Other Accounts’ of item (II)
Disclosures) ‘Balances with Reserve Bank of India’ under Schedule 6 ‘Cash and balances with Reserve
19-May

RBI Directions, 2021 - Bank of India’.

Reporting of reverse • Reverse repos with banks and other institutions having original tenors up to and inclusive
repos with Reserve of 14 days shall be classified under item (ii) ‘Money at call and short notice’ under
Bank on the bank’s Schedule 7 ‘Balances with banks and money at call and short notice’.
balance sheet • Reverse repos with banks and other institutions having original tenors more than 14 days
shall be classified under Schedule 9 – ‘Advances’ under the following heads:
➢ (ii) ‘Cash credits, overdrafts and loans repayable on demand’
➢ (i) ‘Secured by tangible assets’
➢ (I) (iii) Banks (iv) ‘Others’ (as the case may be)

Further certain sections in the said Directions are being updated for editorial corrections as
indicated in the annexure.

Housing Finance – RBI issued a circular on Housing Finance – Loans for repairs/additions/alterations -
Loans for
24-May

Enhancement of limits directed to All Primary (Urban) Co-operative Banks. While drawing
RBI repairs/additions/alter attention to the circular UBD.CO.BPD.(PCB).Cir.No.13/09.22.010/2013-14 dated September
ations -Enhancement 10, 2013 through which the ceiling on loans to individuals for carrying out
of limits repairs/additions/alterations to their dwelling units was revised by RBI upwards to ₹2 lakh
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in rural and semi-urban areas and ₹5 lakh in urban areas. RBI has now revised the ceiling to
₹10 lakh in metropolitan centres (those centres with population of 10 lakh and above) and
₹6 lakh in other centres.

RBI issued a circular on Guidelines on import of gold by Qualified Jewellers as notified by

– The International Financial Services Centres Authority (IFSCA) directed to All Category-I
Authorised Dealer Banks. While drawing attention to the Notification No. 49/2015-2020
dated January 5, 2022 through which Qualified Jewellers (QJ) as notified by International
Financial Services Centres Authority (IFSCA) will be permitted to import gold under specific
ITC(HS) Codes through India International Bullion Exchange IFSC Ltd. (IIBX), Master Direction
– Import of Goods and Services and regulations issued by the International Financial
Bharat Bill Payment Services Centres Authority (IFSCA) under International Financial Services Centres Authority
25-May

RBI System – Amendment Act, 2019. RBI has now issued circular in order to enable resident Qualified Jewellers to
to guidelines import gold through IIBX or any other exchange approved by IFSCA and the DGFT,
Government of India under FEMA. The said arrangement is for the sole purpose of
facilitating physical import of gold through IIBX or any similar exchange authorised by IFSCA,
by Qualified Jewellers in India. The circular outlines that IFSC Authority (IFSCA) will conduct
all required due diligence on the exchange - IIBX including all other entities involved in
enabling import of Gold by QJs in terms of the IFSCA regulations. Further, the circular also
outlines the procedure to be followed by AD banks along with reporting requirements by AD
banks.

RBI issued a circular on Amendment to Bharat Bill Payment System(BBPS) guidelines

directed to NPCI Bharat BillPay Ltd. / Bharat Bill Payment System Providers /Participants and
Bharat Bill Payment prospective Bharat Bill Payment Operating Units, while drawing attention to the circular
26-May

RBI System – Amendment DPSS.CO.PD.No.940/02.27.020/2014-2015 dated November 28, 2014. As per Statement on
to guidelines Development and Regulatory Policies dated April 08, 2022, RBI has now reduced the
minimum net-worth requirement for non-bank Bharat Bill Payment Operating Units
(BBPOUs) to ₹25 crore. Accordingly, the BBPS guidelines have been suitably amended.

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