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click here to return to main page of Mid-term Review of Annual Policy for the year 2004-05
Highlights of Mid-term Review of Annual Policy for the year 2004-05
Financial Sector Reforms and Monetary Policy Measures
Dissemination of credit information by CIBIL for improving asset quality of banks.
To constitute a Working Group on conflicts of interest in the Indian financial services sector.
A vision document for the future role of UCBs is being evolved.
The Standing Advisory Committee on UCBs chaired by Deputy Governor, RBI would meet on a quarterly basis in future.
Detailed guidelines on road map for RNBCs would be issued.
Non-banking Finance Companies encouraged to consider phasing out their public deposits consistent with international practice.
Enhancement of Capital Base for Asset Reconstruction Companies to 15 per cent of assets acquired or Rs. 100 crore, whichever is less.
The Report of the Technical Group on Refinancing Institutions is expected by December 2004.
The first lot of the data series under CDBMS to be released on November 1, 2004.
The draft vision document on Payment and Settlement System be placed in the public domain for feedback and discussions.
The draft regulation to set up the Board for Payment and Settlement Systems submitted to the Government for notification in the Gazette.
The national settlement system is expected to be operationalised in early 2005.
To constitute a Working Group on risk mitigation for Indian retail payment system to submit its Report by November 2004.
Existing per transaction limits for ECS and EFT being dispensed with effective November 1, 2004.
Working Group for regulatory mechanism for cards to be constituted.
CBDT to grant refunds up to Rs.25,000 through Electronic Clearing System (ECS) facility at select centres.
A High Powered Committee constituted for streamlining the systems and procedures for transmission of data on excise duty and service tax.
A revised draft report on International Financial Standards and Codes is being placed in the public domain.
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