IBA to advise banks on benchmark prime lending rate.
Measures to improve credit delivery to agriculture and SSI sectors.
Banks to ensure hedging of foreign currency loans to corporates above $10 million except for exporters and forex expenditures.
Flexibility to exporters in realisation of export proceeds and write-off of overdue up to 10 per cent of their export proceeds in a calendar year.
Roadmap for financial institutions to adopt the 90-day norm for recognition of loan impairment.
Payment of tax refunds through electronic clearing services.
Entire export credit refinance made available at the reverse repo rate.
A gold card scheme for creditworthy exporters drawn up.
Banks allowed to raise long-term bonds to finance infrastructure.
The extant limit on unsecured exposures for banks withdrawn.
Exposures on all public financial institutions to attract a risk weight of 100 per cent.
Banks required to maintain capital charge for market risk in a phased manner.
STANCE
The stance of the monetary policy continues to be the provision of liquidity to meet credit growth and support investment demand with a vigil on the price level and a preference for a soft and flexible interest rate environment.
Continuance of measures with an accent on implementation with the objective of facilitating easy transactions by common people.
Support economic growth consistent with stability by the strengthening of institutional capacity through a consultative process in the medium-term.
