Page 60 - Banking Finance February 2025

RBI CIRCULAR

toring and prevention, the REs are further advised for Government transactions on March 30, 2025 so that
to develop Standard Operating Procedures (SOP) all the Government transactions through integration with
incorporating the required action to be taken in- e-Kuber processed on March 30, 2025 are accounted for
cluding, inter alia, updating the registered mobile and the cash balances of Central Government and State
number(RMN) after due verification; enhanced Governments are arrived as on March 30, 2025.
monitoring of accounts linked to these revoked 3. Also, the luggage files from banks for transferring the
mobile numbers for preventing the linked accounts data related to Government transactions to RBI would
from being operated as Money Mules and / or also be accepted by e-Kuber system on March 30, 2025
being involved in cyber frauds, etc. (Sunday) up to the stipulated cut-off time for account-
b. Provide the verified details of their customer care ing of the same on March 30, 2025 itself.
numbers to DIP for enabling DoT to publish them
on the “Sanchar Saathi” portal (https:// Participation of NaBFID as an AIFI in fi-
sancharsaathi.gov.in/). The details may be shared
on the DoT email adg.diu-dot@gov.in nancial markets
c. Undertake transactional / service calls only using January 01, 2025
‘1600xx’ numbering series, when operationalized;
undertake promotional voice calls only through 1. Please refer to the press release dated March 09, 2022
phone numbers using ‘140xx’ numbering series; fol- wherein it was communicated that the National Bank
low the “Important Guidelines for sending commer- for Financing Infrastructure and Development (NaBFID)
cial communication using telecom resources through shall be regulated and supervised as an All-India Finan-
Voice Calls or SMS” issued by Telecom Regulatory cial Institution (AIFI) by the Reserve Bank under Sections
Authority of India (TRAI) and annexed to this circu- 45L and 45N of the Reserve Bank of India Act, 1934 and
lar. REs are also advised to undertake awareness the Master Direction - Reserve Bank of India (Pruden-
measures in this regard through emails, SMS and tial Regulations on Basel III Capital Framework, Expo-
other modes, including in vernacular languages. sure Norms, Significant Investments, Classification, Valu-
ation and Operation of Investment Portfolio Norms and
3. All REs are advised to ensure compliance with the
Resource Raising Norms for All India Financial Institu-
above instructions expeditiously.
tions) Directions, 2023 dated September 21, 2023 which
specify that AIFIs can undertake credit default swap and
Status of March 30, 2025 for Government repo transactions, in terms of Master Direction – Re-
transactions through integration with e- serve Bank of India (Credit Derivatives) Directions, 2022
and the Repurchase Transactions (Repo) (Reserve Bank)
Kuber Directions, 2018, as amended from time to time.
January 03, 2025 2. In this regard, the following Directions have been up-
dated, as attached, to amply clarify that NaBFID is
1. The ‘e-Kuber’ which is the Core Banking Solution plat- permitted to participate as an AIFI in financial markets
form of RBI for Government and other payments does regulated by the Reserve Bank:
not process any Government transactions on Global i) Master Direction – Reserve Bank of India (Credit
holidays (which are 26th January, 15th August, 2nd Oc- Derivatives) Directions, 2022; and
tober, all 2nd and 4th Saturdays of a month and on all
Sundays). It is observed that March 30, 2025 falls on a ii) Repurchase Transactions (Repo) (Reserve Bank) Di-
rections, 2018 (Updated as on November 28, 2019).
Sunday. The Office of Controller General of Accounts,
Government of India has advised that in order to ac- 3. The Directions shall be applicable with immediate effect.
count for all the Government transactions relating to 4. The Directions contained in this circular have been is-
receipts and payments in the financial year 2024-25 sued in exercise of the powers conferred under section
itself, March 30, 2025 (Sunday) be marked as a work- 45W of the Reserve Bank of India Act, 1934 read with
ing day for the Government transactions. section 45U of the Act and of all the powers enabling
2. Accordingly, it has been decided that e-Kuber will be open it in this behalf.

54 | 2025 | FEBRUARY | BANKING FINANCE