RBI Released Recommendations of Expert Committee on UCBs; RBI to Launch GAAR Regulations for Round Tripping

RBI tripping In August 2021, the Reserve Bank of India (RBI) released the recommendation Report of the Expert Committee on Primary (Urban) Co-operative Banks (UCBs) under the chairmanship of N. S.Vishwanathan, which was constituted by RBI to review the issues of UCBs and to Provide a road map for strengthening the

Sector. Committee’s Recommendation:

Sector.

Committee’s Recommendation:

To ease the regulatory process, the

Committee has recommended a 4-tier

Structure for the UCBs, based on their

Capital availability and other factors.

.Tier 1– All unit UCBs and salary

Earner’s UCBs (irrespective of deposit

Size), and all other UCBs having

Deposits up to Rs 100 crore

.Tier 2-UCBs with deposits between

Rs 100 crore Rs 1000 crore

Tier 3 UCBs with deposits between

Rs 1000 crore Rs 10,000 crore

Tier 4- UCBs with deposits more than

Rs 10,000  crore

 RBI issued Draft Regulations for Round Tripping

RBI has made changes in the existing

Regulation of foreign investment and

Released the draft rule to discourage

Round-tripping.

•As per the draft, the investment made

In an entity outside India, which in turn

Invests in India to avoid tax will be

Treated as ‘round-tripping’.

About Reserve Bank of India (RBI):

Establishment 1st April 1935

Headquarters Mumbai, Maharashtra

Governor – Shaktikanta Das

Deputy Governors- Mahesh Kumar Jain,

Michael Debabrata Patra, and M

Rajeshwar Rao, T. Rabi Sankar

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