Statement on Developmental and Regulatory Policies

Here is a summary of the document:

Summary:

The Reserve Bank of India has announced various developmental and regulatory policy measures in three areas: Regulation, Payments Systems, and Consumer Protection.

Regulation:

A comprehensive regulatory framework is proposed for project finance, allowing regulated entities to offset exposures with credit risk transfer instruments.
Credit concentration norms for Non-Banking Financial Companies (NBFCs) will be harmonized to permit offsetting of exposures with eligible credit risk transfer instruments.
The monetary ceiling of gold loans under the bullet repayment scheme will be increased to u20b94.00 lakh for UCBs that have met Priority Sector Lending targets.
A framework is proposed for recognizing Self-Regulatory Organisations (SROs) for regulated entities of the Reserve Bank.

Payments Systems:

The Payments Infrastructure Development Fund (PIDF) Scheme will be extended by two years, and beneficiaries of PM Vishwakarma Scheme will be included in the Scheme.
New channels will be introduced for Card-on-File Tokenisation, allowing token creation facilities directly at the issuer bank level.

Consumer Protection:

* A Master Direction will be issued to harmonize the Internal Ombudsman mechanism in regulated entities, introducing uniformity in operational matters and strengthening the grievance redress system.

Overall, these measures aim to promote digital transactions, strengthen the regulatory framework, and improve consumer protection.